Ken MacKenzie defended CEO after attacks from activist investor Elliott Advisors prompted speculation that the end of Andrew Mackenzie's tenure was imminent.
The combination of spread stress and large flows of metal in the LME system suggests we've just witnessed a big bear-bull battle among physical players.
"[W]e expect growth in China to ease modestly over the short-term, as monetary policy tightens and housing and automotive markets soften," Mackenzie said.
It will sell its newest mine to Harmony Gold for $300 million and another mine for 100 million rand ($7.4 million) to China's Heaven-Sent SA Sunshine Investment Company.
It expects an average global copper price of $2.95 per pound in 2018, a sharp upward revision from its mid-year estimate of $2.68, due to greater demand in China.
India's Multi Commodity Exchange (MCX) has launched the country's first gold options contract in New Delhi to coincide with the gold-buying festival of Dhanteras.
