Gold price continues ascent to new highs, nears $2,150/oz

While equity investors gave the demerger plan a thumbs up, Vedanta’s dollar bonds have tumbled.

Investors on both sides of the Atlantic have been shifting positions in response to a potential downside break of a range that has defined the price action this year.

Ganfeng Lithium and Tianqi Lithium have plunged 51% and 32% respectively since January.

The company announced two mineral property purchase agreements near its North Nevada Lithium Project.

UBS lowered its year-end gold price forecast by $100 to $1,850.

The mining giant has begun at Kumba Iron Ore, where 181 workers got notices and 141 jobs are expected to be cut.

Chief executive Peter Rockandel is stepping down at the end of the year, and will be succeeded by Jack Lundin.

Hancock Prospecting now owns 14.67% of the lithium producer, according to an ASX filing late Tuesday.

Copper’s slump has also coincided with a sharp decline in manufacturing activity in major industrial economies.