Foran reports wide copper intervals from McIlvenna Bay

Early reports claimed that Tanzania had asked foreign workers of the gold miner to leave the country, but a spokesperson for the company denied that story.

South Africa intends to suspend the granting of applications for prospecting and mining rights as well as any renewals pending a court case to review new mining laws, the Mineral Resources Minister Mosebenzi Zwane said on Thursday.

As steel production reaches all-time high Chinese miners pump out most iron ore since 2015 while refined copper output jumps 12% to highest in 18 months.

The smelter, one of the largest in the Southern Hemisphere, has been hampered by insufficient power supplies and maintenance work since a major power outage last year shut operations for two weeks.

The indefinite labour action involves 56 unions, which are protesting a government’s proposed reform they see as "anti-workers".

World number one miner's Pilbara mines produce 268m tonnes for the year, but strike at Escondida sees copper output slide 16%.

JP Morgan: "We think the second-half 2017 fundamental outlook for zinc looks less supportive, easing supply constraints and questionable demand strength."

Big winners will be aluminum, copper, lead, lithium, manganese, nickel, silver, steel, and zinc and rare earth minerals such as indium, molybdenum, and neodymium.

It also revised down its expected share of hard coking coal for the year to between 7.2 to 7.8 million tonnes from 7.8 to 8.4 million tonnes.