ASX Market Close: BHP and Rio Tinto Decline as Singapore Iron Ore Prices Slip | 17 June 2024

The Market Herald06-17

The ASX200 closed down about a third of a per cent. The IT and Energy sectors suffered the most, each down about 1.5%, while Telecommunications was the best performer, managing a rise of nearly 0.7%. ...

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This downturn had a knock-on effect on shares of major players like BHP and Rio Tinto.China’s ongoing struggle to stimulate its property sector was underscored by the latest house price data, reflecting broader economic challenges.Tabcorp Holdings  ended the day upthree quarters of a per cent,onformer AFL boss Gillon McLachlanbeing appointed asManaging Director and CEO effectivefromearly August.Mr McLachlanwasCEO of the AFLfor about a decade.Lithium Plus Minerals surgednearly 15% after lodging a Mining Lease Application for its wholly owned Lei Lithium Deposit in the Northern Territory.The deposit boasts a Mineral Resource Estimate  ofover4 million tonnes at 1.43% Lithium oxide.Emmerson Resources shot upmore than25%on newsits joint venture partner, Tennant Consolidated Mining Group,hascommenced construction of the Nobles gold processing facility in Tennant Creek.A","collect":0,"end_time":0,"defaultTopTitle":"themarketonline.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","RIO.AU":"力拓","TAH.AU":"TABCORP HOLDINGS LTD","BK7504":"锂钴概念","BK7078":"赌场与赌博","BK4168":"多种金属与采矿","PLS.AU":"PILBARA MINERALS LTD","ERM.AU":"EMMERSON RESOURCES LTD","LPM.AU":"LITHIUM PLUS MINERALS LTD","WR1.AU":"WINSOME RESOURCES LTD","BK7104":"黄金","BK7507":"资源股","BHP.AU":"BHP GROUP LTD","BK4588":"碎股","BK7511":"ESG概念","BK7095":"多种金属与采矿","BHP":"必和必拓公司","AGC.AU":"AUSTRALIAN GOLD & COPPER LTD"},"translate_title":"澳大利亚证券交易所收盘：随着新加坡铁矿石价格下滑，必和必拓和力拓股价下跌2024年6月17日","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHP":1,"WR1.AU":1,"TAH.AU":1,"RIO.AU":1,"LPM.AU":1,"ERM.AU":1,"BHP.AU":1,"AGC.AU":1,"PLS.AU":0.65},"content_text":"The ASX200 closed down about a third of a per cent.\nThe IT and Energy sectors suffered the most, each down about 1.5%, while Telecommunications was the best performer, managing a rise of nearly 0.7%.\nIron ore prices in Singapore slipped below the US$105 per tonne mark, influenced by disappointing economic data from China. This downturn had a knock-on effect on shares of major players like BHP and Rio Tinto.\nChina’s ongoing struggle to stimulate its property sector was underscored by the latest house price data, reflecting broader economic challenges.\nIn the Green\nTabcorp Holdings (ASX:TAH) ended the day up three quarters of a per cent, on former AFL boss Gillon McLachlan being appointed as Managing Director and CEO effective from early August.\nMr McLachlan was CEO of the AFL for about a decade.\nTAH closed at 66 cents.\nLithium Plus Minerals (ASX:LPM) surged nearly 15% after lodging a Mining Lease Application for its wholly owned Lei Lithium Deposit in the Northern Territory. \nThe deposit boasts a Mineral Resource Estimate (MRE) of over 4 million tonnes at 1.43% Lithium oxide.\nLPM closed the day at 15.5 cents.\nEmmerson Resources (ASX:ERM) shot up more than 25% on news its joint venture partner, Tennant Consolidated Mining Group, has commenced construction of the Nobles gold processing facility in Tennant Creek. \nConstruction and commissioning are expected to be completed in the second quarter next year. \nERM closed the day at 5.4 cents.\nIn the Red\nAs mentioned BHP (ASX:BHP) fell today on that iron ore pricing news out of Singapore. \nBHP lost nearly 1.3% to close at $42.54. \nLithium exploration and development company, Winsome Resources (ASX:WR1) dropped 16% after capital raising.\nIt’s raised A$25 million to advance the Adina Lithium Project.\nWR1 closed the day at 81 cents.\nAnd, Australian Gold and Copper (ASX:AGC) dropped nearly 25% on the results from the final six holes of a recent nine-hole drilling program at the Achilles project in NSW. \nAGC the day at 30 cents.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2444134575"}