EY’s Canadian Mining Eye index — which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies — dropped 12 percent in the third quarter of the year when compared to the previous three-month period.
Capital expenditure among the 10 largest metals and mining companies is forecast to advance to about $35 billion this year, the first annual rise since 2013.
The world's no.1 heavy machinery maker reported third-quarter earnings that topped analysts’ estimates, but said the ongoing trade dispute resulted in $40 million in extra costs for materials in the period.
Two major shareholders of Brazilian mining company Vale SA are likely to reach an agreement on Wednesday to pay 2.82 billion reais ($692 million) to Eletron to settle a dispute over Vale shares.
Miner announced a share swap Monday, handing over £27m of stock for a 30 per cent stake in Cibra, Brazil's sixth largest distributor and a subsidiary of the privately held Omimex Group, a Texan oil and gas company.