MDF Global MDF Global
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
Great Wall

Chinese exports prop up economic growth 

The latest Chinese quarterly data is out this week, and it points to a familiar theme for observers. Chinese exports remain strong, driving a record trade surplus, while the domestic economy continues to struggle with weak consumer demand and an anaemic property market.

The New York Times reports:

“China’s National Bureau of Statistics announced on Monday that gross domestic product grew 1.2% from the second quarter of this year. If that pace continues for a year, the Chinese economy will expand at an annual rate of about 4.9%.”

Industrial metals rallied in the markets overnight, except for copper, which fell a modest 0.5%. Gold also edged lower, while energy markets remained at elevated levels.

Thermal coal prices in China are at three-year highs. Breakwave Advisors reports that domestic Chinese coal production is struggling, creating an opportunity for Australian coal exports to capitalise. 

This may also help explain the positive market response to ASX-listed New Hope’s (ASX:NHC) announcement that it would acquire Malabar Resources. The acquiring company’s share price often falls after this type of deal, but New Hope shares rose in yesterday’s trade.

THERMAL COAL PRICE

Source: Breakwave Advisors 

Write to Callum Newman at Mining.com.au

Main image: Unsplash 
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Written By Callum Newman
Callum’s covered the ASX, including resource stocks and the broader mining cycle, for the last 15 years. That included almost a decade as a small cap security analyst. His work has previously featured at Fat Tail Investment Research, LiveWire, Marcus Today and Money magazine.