Gemfields warns of $2.8 million loss on write-down
Weak PGMs prices forced Gemfields to cut the value of its Sedibelo investment, which will result in a write-down ranging between $4 million and $28 million.
Either inventory rebuilds over the seasonal summer soft spot for northern hemisphere demand, or the market is going to have to rethink just how much copper is really out there, writes Andy Homes.