Aussie mining stocks rise on higher iron ore prices

Leo Lithium

29/05/2023 05:20

** The Australian mining sub-index  .AXMM  climbs as much as
2.4%, on track to post its biggest intra-day percentage gain
since April 11
    ** Iron ore futures extended gains on Monday as investor
sentiment was bolstered by expectations of fresh stimulus
policies in China following the release of weak industrial
profit data on Saturday  IRONORE/ 
    ** Behemoths BHP Group  BHP.AX  and Rio Tinto  RIO.AX  rise
2.6% and 2.5%, respectively
    ** Fortescue Metals Group  FMG.AX  jumps 3.9%, on track to
post its best day since March 31
    ** Lithium miner Leo Lithium  LLL.AX  jumps 17.2% to a
record high after deal with a unit of China's Ganfeng Lithium
Group Co Ltd  002460.SZ  to raise A$106.1 mln ($71.97 mln)
    ** Leo Lithium is also the biggest gainer on the sub-index
    ** AXMM down 2.1% YTD, as of last close
    



($1 = 1.4743 Australian dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))