Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
The copper price rose on Tuesday due to a softer dollar, although data from top consumer China signaling weak activity capped gains as the market looked ahead to the US inflation data that could yield clues to US interest rates.
Copper for delivery in May on the Comex market in New York touched $4.05 per pound ($8,910 per tonne), up 2% compared to Monday’s closing.
[Click here for an interactive chart of copper prices]
US consumer price inflation data is due on Wednesday, while the US Federal Reserve’s decision on interest rates will be made at its meeting on May 3.
Read More: Western Copper confirms $1.7 million investment by Rio to maintain stake
