Many miners have raised their unit cost guidance during their June-quarter financial reporting, signalling an intensification of a trend picked up on during the first quarter.

Pure Gold said output fell during the second quarter due in part to cash-preservation measures taken by the company while negotiating financing agreements.

The aggregate purchase price for the outstanding shares of Loncan will be equal to C$16 million.

Annual copper demand is set to expand 53% to 2040, mainly driven by the electrification of transport and infrastructure, BNEF analysts said.

Budel smelter in the Netherlands will be put on care and maintenance from September 1 until further notice.

Large producers that exceed their goals will receive 80% of the payment for the additional output in foreign currency.

The world's largest miner by market value said coal and copper prices have risen in the recent months due to tight supply and geopolitical tensions.