The Jersey-based company’s initial public offering on the ASX was oversubscribed by about A$25 million.

New Gold aims to produce 410,000 to 460,000 ounces in 2026 by boosting output at current mines and completing growth projects.

Macquarie says January's full set of PMIs looks like a potential turning point for the global industrial cycle.

The company left its 2024 copper output guidance at 730,000-790,000 tons.

Proceeds will go towards the Mantoverde optimized project and Santo Domingo detailed engineering.

Activists allege that the LME allowed sales on its platform of copper produced at the Grasberg mine, which they claim is polluting local rivers.

The state-owned mineral-resources holding company plans to use the proceeds partly to repay existing debt.

The United States will provide more funds for the construction of the Lobito Corridor.