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Metals and Mining Companies Were Mixed on November 1

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Nov. 2 2016, Published 7:45 a.m. ET

Base metal miners were weaker 

On November 1, the stocks related to base metals were weaker, while precious metal miners moved higher. The PowerShares DB Base Metals (DBB) remained unchanged and the SPDR S&P Metals & Mining ETF (XME) fell 0.2%. The SPDR Gold Shares (GLD) rose 0.65%.

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Glencore will restart the Integra coal mine

Glencore (GLNCY), the commodity mining and trading giant, announced its plan to restart its Australian coal asset. The Integra mine is located in the southeastern part of Australia. The operations at the coking coal mine have been closed since July 2014. Glencore plans to restart the operations due to improved coal prices. It’s targeting to produce 1.3 million metric tons of semi-hard coal from the Integra mine and maintain the operations until 2018. Since the beginning of 2016, Glencore rose ~127%. On November 1, it fell 1.6% to $5.96.

Top five performers in the gold industry

Below are the top five companies in the gold industry on November 1.

  • International Tower Hill Mines (THM) rose ~7.6%.
  • New Gold (NGD) rose ~6.3%.
  • Exeter Resource (XRA) rose ~6.1%.
  • Timmins Gold (TGD) rose ~5.9%.
  • Vista Gold (VGZ) rose ~5%.

Bottom five performers in the gold industry

Below are the bottom five companies in the gold industry on November 1.

  • Yamana Gold (AUY) rose ~1.1%.
  • B2Gold (BTG) rose ~0.87%.
  • DRDGOLD Limited (DRD) rose ~0.58%.
  • Richmont Mines (RIC) rose ~0.53%.
  • Minco Gold (MGH) fell ~1.3%.
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