Shares in small nickel and cobalt explorer GME Resources also jumped as much as 53%, apparently driven by the similarity of its stock ticker code to the US videogame retailer.

The company has named a new chief operating officer and a chief executive for its Australia business, as the miner works to rebuild partnerships with Indigenous groups.

However, gold production fell 2.8% from last year due to lower output from its Cadia and Lihir mines.

Australia has managed to ship more coal to other regional consumers, such as India, Vietnam and Thailand.

Europe makes strides to reduce dependency on Chinese battery supply chain, but downstream won’t be so easy, Fitch says.