Despite gold's price slump, strong copper and iron ore prices lifted MINING.COM's ranking of the world's 50 most valuable miners to a new record high of $1.35 trillion.

Petra plans to cut operating costs by $30 million a year from the fiscal year ending June 30, 2025, while reducing spending to $100 million.

Provisional figure is less than the $383 million fetched in the previous sales cycle and the $456 million sold at this time last year.