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Metals and Mining Sector Were Mixed on November 17

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Nov. 18 2016, Published 8:20 a.m. ET

Performance of base metals and precious metal miners

On November 17, the stocks related to base metals were mixed, while precious metal miners were lower. The PowerShares DB Base Metals (DBB) rose 0.34% and the SPDR S&P Metals & Mining ETF (XME) fell 0.74%. The SPDR Gold Shares (GLD) fell 0.53%.

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Anglo American suspends operations at the Los Bronces Mine

Anglo American, the multinational miner, announced on November 17 that it’s suspending operations at the Los Bronces mine. According to the statement released by Anglo American, it’s evacuating 1,500 workers from the Los Bronces mine. Contract workers took over the installation illegally. The Los Bronces mine is in central Chile. It’s one of the world’s biggest copper mines. It produced ~400,000 tons of copper in 2015.

Top five performers in the gold industry

Below are the top five companies in the gold industry on November 17.

  • Richmont Mines (RIC) rose ~2.6%.
  • Gold Standard Ventures (GSV) rose ~2.2%.
  • Seabridge Gold (SA) rose ~0.81%.
  • Entree Gold (EGI) rose ~0.03%.
  • Primero Mining (PPP) fell ~1.9%.

Bottom five performers in the gold industry

Below are the bottom five companies in the gold industry on November 17.

  • Solitario Exploration & Royalty (XPL) fell ~3.0%.
  • Tanzanian Royalty Exploration (TRX) fell ~5.5%.
  • Minco Gold (MGH) fell ~6.8%.
  • Banro (BAA) fell ~9.0%.
  • International Tower Hill Mines (THM) fell ~12.1%.
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