The combined market value of Australia’s mid-tier miners has powered ahead for the second consecutive year (reports MiningNews).
PwC's 12th annual Aussie Mine report, which analyses the 50 largest ASX-listed miners valued at less than A$5 billion, found that the value of the group jumped 28% to $58.7 billion.
All but three of the group - AngloGold Ashanti, OceanaGold Corp and Tribune Mining - saw their market capitalisations grow over the 2018 financial year.
Shifting global economic leadership back to the US has started to play a role in commodity prices, with base metals and oil leading the way up this week while Australian resource stocks also benefited from a continued slide in the A-dollar.
While it is far too early to declare the US the winner in its trade war with China, the early signs point that way with the US central bank head, Jay Powell, predicting that economic expansion could “continue for quite some time”.
The big miners may be the new superstars of the dividend scene, but this has failed to translate through to any big appetite for their shares over recent months (reports The Australian Financial Review).
A 15% fall in the nickel price from $US7 a pound to $US6/lb over the past two months has not endeared the metal to every investor but there is a gathering of the rich and famous in the nickel sector that is becoming hard, and perhaps unwise, to ignore as big bets are placed on its revival.