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Apple’s iPhone boom highlights critical minerals powering smartphones•Presenting a united front for Queensland’s copper sector•Thailand seeks Myanmar mine access amid arsenic pollution•Egypt to set up state-backed company to license artisanal gold miners, free detainees•Brixton closes $7.4 million raise for Thorn, Langis projects•Heliostar banks record $78.7 million for Ana Paula push•Mining giants bet billions on 2030 supply crunch•Gunnison Copper reports Q3 output, revenue surge•Triumph Gold targets $15.46 million for Yukon push•African Rainbow Minerals faces a jobs dispute at Nkomati mine•Angola seeks 10% stake in De Beers under Anglo’s proposed exit•Gold price rebounds but heads for biggest weekly loss since June•Teck copper strike reaches BC port as operator sues union•Copper benchmark rocked by miner-smelter tug-of-war•Zimbabwe mining bill targets community, environmental safeguards•Mount Isa critical minerals hub secures Feasibility Study funding•Eramet initiates $814.5 million capital raise to reduce debt•Richemont backs natural gemstones, declines De Beers comment•‘Tis the season for administration as Comlek falls a second time•OceanaGold Philippines trials wireless blasting at Didipio mine Apple’s iPhone boom highlights critical minerals powering smartphones•Presenting a united front for Queensland’s copper sector•Thailand seeks Myanmar mine access amid arsenic pollution•Egypt to set up state-backed company to license artisanal gold miners, free detainees•Brixton closes $7.4 million raise for Thorn, Langis projects•Heliostar banks record $78.7 million for Ana Paula push•Mining giants bet billions on 2030 supply crunch•Gunnison Copper reports Q3 output, revenue surge•Triumph Gold targets $15.46 million for Yukon push•African Rainbow Minerals faces a jobs dispute at Nkomati mine•Angola seeks 10% stake in De Beers under Anglo’s proposed exit•Gold price rebounds but heads for biggest weekly loss since June•Teck copper strike reaches BC port as operator sues union•Copper benchmark rocked by miner-smelter tug-of-war•Zimbabwe mining bill targets community, environmental safeguards•Mount Isa critical minerals hub secures Feasibility Study funding•Eramet initiates $814.5 million capital raise to reduce debt•Richemont backs natural gemstones, declines De Beers comment•‘Tis the season for administration as Comlek falls a second time•OceanaGold Philippines trials wireless blasting at Didipio mine

ASX index weakens for second day

Oil refiner Viva Energy Group (ASX:VEA) and resources consultancy Worley (ASX:WOR) are the bottom-performing stocks on the S&P/ASX 200 index today, which dropped by 0.29% to 8,928.7 points.

Viva’s share price decreased by 6.7% to $2.36, while Worley was down by 4.4% to $11.30 per unit in the first hour of the Australian Securities Exchange opening for trade.

Critical minerals company Terrain Minerals (ASX:TMX) dwindled by 20% to $0.006 per share, while gold explorer and developer Pacgold (ASX:PGO) reduced by 9.09% to $0.10 per unit.

The index declined after enjoying three days of gains. On 14 April the index rose by 0.34% to 8,930 points. On 15 April the index rose by 0.15% to 8,984.5 points. On 16 April the index rose by 0.15% to 8,984.5 points. On 17 April the index dropped by 0.29% to 8,928.7 points.

“Over the last five days the index is virtually unchanged but is currently 3.13% below its 52-week high,” the ASX markets website says.

As Mining.com.au previously reported, the index reported a third year of “positive returns” during 2025 despite “some concerns about the state of the world”.

“Big option trades using longer-dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.

Analysts expect share markets to have a positive outlook despite short-term pain.

“Markets, at least the equity market, seem [to be] pretty optimistic that the [Iran] ceasefire is going to hold, maybe it will be extended in that there might eventually be a peace deal,” Capital.com Senior Market Analyst Kyle Rodda tells the Australian Associated Press.

“It could certainly be a sign of complacency again, in the market potentially mispricing the risk [but] that is the side of things that the traders are on,” he adds, according to the newswire agency.

Write to Richard Szabo at Mining.com.au

Images: Australian Securities Exchange via Facebook
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Written By Richard Szabo
Senior Reporter Richard Szabo has more than 19 years' experience in award-winning journalism, social media marketing and web content management for some of Australasia's fast-growing media companies including News Limited, Business News Australia, iSentia, APRS Media and Wade Business Media. He has also worked for the Crier Media Group in Hungary and Beauty of Life in New York state.