Hello everyone, great to have your company on Kalkine TV. I'm Sage and
you’re watching Buzzing Trends Show.
The S&P/ASX200 was up today morning, gaining 56.00 points or 0.84% and crossing above its 20-day
moving average. Eight of eleven sectors were higher along with the S&P/ASX 200 Index. Energy
was the best performing sector, gaining 2.82%. The S&P/ASX 300 Metals and Mining Index also traded
in the green territory and was 0.87% in the morning. With commodity space in positive side,
Copper was trading at USD 3.58 per pound-mass on July 8. Australia owns around 13% of copper
resources, while Chile has about 25% of the world's copper reserves. On that note,
let's take a look at three ASX-listed copper stocks and their year-to-date performance.
First on the list is Rio Tinto.
It is a mining and metals company which operates through four segments, including iron ore,
aluminium, copper and minerals. Rio announced on 15 June 2022 that it
delivered the first ore from the Gudai-Darri iron ore mine. This will help future production of
Rio's flagship product Pilbara Blend. Its shares traded at AU$99.07, up by 1.94%
today morning. The current market capitalisation of Rio Tinto is AU$36.07 billion. The company has
recorded negative growth of around 0.62% on a year-to-date basis as of July 8.
Next on the list is Sandfire Resources.
Australia-based Sandfire Resources is a mining and exploration firm. DeGrussa Operations,
Doolgunna Exploration, Australia Regional Exploration, Motheo Copper Mine, Kalahari Copper
Belt Exploration, and the Black Butte Copper Project are the main business endeavours of the
company. Sandfire Resources' shares were spotted trading at AU$4.36 apiece, an increase of 4.06%
from its previous closing price on July 8. The company stands with a market capitalisation of
1.71 billion. Its shares have recorded negative growth of around 35% on a year-to-date basis.
Last on the list is OZ Minerals.
It is an Australia-based company involved in mining and processing ore that contains copper,
gold, and silver, and engaging in exploration and project development. OZ
Minerals' shares traded at AU$17.93, up by 3.34% per share on the ASX today
morning. The company has a market capitalisation of 5.80 billion. OZ
Minerals shares have fallen more than 37% on a year-to-date basis as of July 8.
The world’s largest copper producer Chile reported a fall in its production in April. State-owned
miner Codelco registered a 6.1% decline in copper production in April while Glencore’s JV Collahousi
posted a decline of 26.5% in its April production. The figures are on a year-over-year basis. Chile’s
production may fall further in the coming months as the government has initiated a sanction process
against Antofagasta Minerals’ Los Pelambres copper mine for violating environmental regulations.
The sanctions could lead to a loss of the permit, closure, or hefty fines on the company.
Another factor impacting copper production is the ongoing violent protests against mining companies
in the world’s no. two producer Peru. The supply side seems to lag behind the demand in coming
days. This demand and supply dynamics could see the price of copper surging in the near term.
In view of these global developments, we will keep a track of Australian copper players.
With that, we come to an end of this Buzzing trend show. Will be back again tomorrow with
the show. Till then, stay tuned to Kalkine TV for the latest insights
and updates from the market. I'm Sage, signing off.