BUZZ-Aussie miners gain in Q4, on eight-year winning streak amid M&A wave

Reuters2023-12-28

** Australian miners set to close 2023 about 8.3% higher, on track for their eighth straight year of gains

** AXMM set to gain 12.3% in Q4, after posting losses in Q2 and Q3, in a year marked with high-profile mergers and acquisitions among miners

** Iron-ore imports to top steelmaker China are expected to hit record high this year on strong demand due to low inventories at the country's mills and ports, driving prices

up

** China demand and Panama mine closures helped lift copper prices, with benchmark set to end the year 2.7% higher

** Mining-giant BHP up 10.1% this year, Rio Tinto

and Fortescue added about 16.1% and 39.2%

** BHP sold coal mines to Whitehaven in a $4.1 bln deal this year

** Gold explorers on track to record biggest yearly gain since 2016 as bullion prices thrive on weaker dollar

** Lithium stocks set to record yearly losses with miners IGO and Mineral Resources declining around 32% and 9.9%

** Liontown Resources up 22% this year after a $4.2 bln takeover bid by Albemarle crashed

** Sector majors OZ Minerals and Newcrest were acquired in multi-billion dollar deals, while Allkem merged during the year

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(Reporting by Aaditya Govind Rao in Bengaluru)

((aaditya.govindrao@thomsonreuters.com))

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