Blowout profits seen boosting miners trading at multi-year highs

Faced with declining domestic production, China's top copper company — Minmetals — said earlier this year that the "only solution” was going overseas, and many are following its steps.

It produced 86.82 million tonnes of iron ore in the April-to-June period, down 2.8% from a year earlier.

Industrial metals are now all trading above their 100-day moving averages and most are no longer in backwardation.

World's number two gold producer's second quarter results ticks all the boxes as it throws off $486 million in free cash in its second quarter.

Shares plunged after miner revealed that output fell almost across the board in the April – June period.

World's top miner expects to produce 1.7 million tonnes in 2017 as output at giant Escondida mine jumps 9%.

Trevali stock is up 44% in two weeks as Canadian mine enters commercial production and record output at flagship Peru operation is topped by high-grade find.

Overall, Canadian deal-making in the first half of the year fell in line with the global cooling down trend that has followed the record valuations of 2015.

Recovering commodity prices and investors' veto on deals have frustrated Davis and his team in their search for mining and metals bargains.