Metals and Mining Sector Companies Rose on November 3

On November 3, the stocks related to base metals and precious metal miners moved higher. The PowerShares DB Base Metals (DBB) and the SPDR S&P Metals & Mining ETF (XME) rose 1.5% and 2.7%. The SPDR Gold Shares (GLD) rose 0.52%.

According to the latest reports, Rio Tinto (RIO), the British-Australian multinational miner, is selling its stake in the Simandou iron ore mine to Chinalco. Rio Tinto has 46.6% ownership in Simandou, while Chinaco owns 41.3%. The Guinea government owns the rest of the stake. After the deal is complete, Chinalco will own 87.9% of the mine. Even though Rio Tinto spent $3 billion on the Simandou iron ore project, the political instability and lawsuit pushed the company to divest from the asset. The deal is worth between $1.1 billion and ~1.3 billion.

Since the beginning of 2016, Rio Tinto rose~13.7%. At 10:40 AM EST on November 3, Rio Tinto was trading at $34.81—a gain of ~1%.

Below are the top five companies in the gold industry on November 3.

• Kinross Gold (KGC) rose ~8.2%.
• Vista Gold (VGZ) rose ~8.2%.
• Solitario Exploration & Royalty (XPL) rose ~7.9%.
• Iamgold (IAG) rose ~5.8%.
• International Tower Hill Mines (THM) rose ~5.8%.

Below are the bottom five companies in the gold industry on November 3.

• Banro (BAA) fell ~0.04%.
• Goldcorp (GG) fell ~0.65%.
• Entree Gold (EGI) fell ~1.3%.
• Tanzanian Royalty Exploration (TRX) fell ~5%.
• Comstock Mining (LODE) fell ~6.7%.