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PwC’s annual report on the South African mining industry said global drops in some commodity prices following the COVID-19 pandemic contributed to the reduced profits. But so did South Africa’s local challenges of currency fluctuations, high inflation, power blackouts and logistical problems in exporting minerals because of deteriorating road, rail and port infrastructure. South Africa has an opportunity to benefit from that demand, which also would need millions of dollars in investment, the report said. “This presents several opportunities for South Africa which could reshape industries, diversify the economy and drive future prosperity." The output from South Africa’s 130-year-old gold mining industry has been slumping for more than 20 years.

Persons: Andries Rossouw, PwC, Rossouw Organizations: McKinsey & Company, ” Mining, South African Revenue Service, AP Locations: CAPE, South Africa, Ghana, South America, Africa, African, africa

☆ European markets open higher as data boosts sentiment
▼ + stars: | 2023-10-02 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

The Stoxx 600 index was up by 0.2% at the open, with most sectors gaining. European markets opened higher Monday, with regional markets given a boost last week on a firm sign that the recent rate of consumer price rises could be slowing. Euro zone inflation fell to its lowest level since October 2021. The European Central Bank hiked interest rates to a record level last month, but economists and investors expect them to have now reached their peak. Elsewhere overnight, Asia-Pacific stocks traded mixed after manufacturing data out of China bounced back to expansion territory.

Organizations: Mining, European Central Bank, U.S . Federal Locations: Asia, Pacific, China

☆ Canada economy stalled in July, most likely grew by 0.1% in Aug
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Christinne Muschi Acquire Licensing RightsOTTAWA, Sept 29 (Reuters) - Canada's economy stalled in July as the manufacturing sector posted its biggest decline for more than two years, but it most likely grew by 0.1% in August, Statistics Canada said on Friday. Analysts polled by Reuters had forecast a 0.1% month-over-month rise in July. Overall, the service-producing sector edged up 0.1% in July while the goods-producing sector posted a 0.3% contraction. The manufacturing sector shrank by 1.5% over June, the biggest month-on-month drop since April 2021, largely due to firms drawing down their inventories. The bank held its key overnight interest rate at 5% on Sept 6, noting the economy had entered a period of weaker growth.

Persons: Christinne, David Ljunggren, Dale Smith Organizations: Port, REUTERS, Rights, Statistics, Reuters, Bank of, Mining, Bank of Canada's, Thomson Locations: Port of Montreal, Montreal, Quebec, Canada, Statistics Canada, Pacific, British Columbia

☆ Peru seeks mining investment revival with pledge to end 'chaos, disorder'
▼ + stars: | 2023-09-27 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

[1/2] Trucks remain stuck during a roadblock caused due to a demonstration by anti-government protestors demanding the resignation of Peru's President Dina Boluarte, in Condoroma in Cusco region, Peru February 4, 2023. REUTERS/Pilar Olivares/File Photo Acquire Licensing RightsSummaryCompanies Peru mining investment expected to drop 18% this yearMiners push to use contractorsGovernment aims to streamline environmental permittingLIMA, Sept 27 (Reuters) - Peru is looking to put the "chaos" of months-long protests earlier this year behind it to revitalize flagging mining investment in the world's no. As a mining conference in the southern Andean region of Arequipa got started this week, Prime Minister Alberto Otarola addressed concerns about political instability and protests that have led to an expected 18% drop in mining investment this year. The last major investment in Peru was Anglo American (AAL.L)'s $5 billion Quellaveco project, which came online last year and has helped buffer production figures. Reuters GraphicsReporting by Marco Aquino; Editing by Adam Jourdan and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Dina Boluarte, Pilar Olivares, Alberto Otarola, Otarola, Raúl Jacob, Pedro Castillo, Boluarte, Mines Oscar Vera, Victor Gobitz, Gobitz, Marco Aquino, Adam Jourdan, Sonali Paul Organizations: REUTERS, Companies, Miners, Reuters, Mining, Grupo Mexico's, Reuters Graphics, of Energy, Mines, BHP, Mitsubishi, Thomson Locations: Condoroma, Cusco region, Peru, Companies Peru, LIMA, Arequipa, American, Teck

☆ Bitcoin miners beef up Texas operations ahead of extinction-level event, exclusive data shows
▼ + stars: | 2023-09-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Bitcoin miners are barreling toward the "halving" — a major market-making event that some fear will be a death knell to many in the industry. "We're taking a long-term bet on bitcoin and on the fact that bitcoin mining will survive and will bounce back even stronger." Texas has grown to dominate bitcoin mining partly because of support from local authorities and the operator of the Texas energy grid, ERCOT. Even during the bear market, Texas miners are building out, buying new sites and fresh fleets of hardware. The mining company was spun off from Chinese bitcoin mining giant Bitmain and went public via SPAC earlier this year.

Persons: Kevin Zhang, Jihan Wu, Bitmain, Kevin Zhang Crypto, He's, China — he's, Zhang, bitcoin, Barry Silbert's, Foundry's, —, Chad Harris, ERCOT, Nic Carter, Shaun Connell, Brad Jones, Brandon Arvanaghi, Jason Les, Navarro, Les, hashrate, Morgan, Bitdeer Organizations: Foundry, Mining, CNBC, U.S, Riot, Cipher Mining, Georgia, Securities Exchange Commission, JPMorgan Chase Locations: Sweden, Republic of Georgia, China, America, Beijing, Shenzhen, Montana, North America, Texas, Wyoming, New York, United States, U.S, . Texas, Castle, Rockdale, Austin, Milam, Odessa , Texas, Minden , Nebraska, , Texas, New Hampshire, Pennsylvania, Nebraska, North Carolina , Kentucky , Oklahoma, Washington

European markets opened lower Monday as investors reflected on a spate of central bank decisions last week and the prospect of higher-for-longer interest rates. The pan-European Stoxx 600 index was down 0.3% in early trade, with all sectors in negative territory. The Bank of England and the Swiss National Bank opted to pause their interest rate hiking cycles last week, in contrast to the "dovish hike" delivered by the European Central Bank on Sept. 14. Elsewhere, U.S. stock futures edged higher in overnight trading, set to enter the last week of trading in September with big losses. Stocks stateside have struggled this month as the Federal Reserve signaled higher interest rates for longer, sending bond yields rising.

Persons: Carsten Brzeski Organizations: Bank of England, Swiss National Bank, European Central Bank, ING, CNBC, Stocks, Federal Reserve

☆ European markets open higher after Wall Street rally
▼ + stars: | 2023-08-30 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

LONDON — European stock markets opened higher Wednesday, reflecting moves on Wall Street overnight. The pan-European Stoxx 600 index was up 0.2%, with most sectors trading in cautiously positive territory. Mining stocks made the biggest gains, with a 0.9% uptick, followed by insurance, which was up 0.6%. Utilities stocks shed 0.4% in early trade. Markets closed higher Tuesday, tracking global counterparts as investors look ahead to a fresh round of economic data this week.

Organizations: Utilities

☆ European markets climb on easing bond yields, blockbuster Nvidia earnings
▼ + stars: | 2023-08-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets climbed on Thursday, tracking counterparts in Asia and the U.S. as a pullback in U.S. bond yields eased global borrowing costs. The European blue chip index closed Wednesday's session up 0.4% even as euro zone purchasing managers' index figures came in well below expectations and services activity slid into decline. Investors are also awaiting comments from U.S. Federal Reserve Chairman Jerome Powell on Friday at the conclusion of the central bank's symposium in Jackson Hole, Wyoming, which Wall Street hopes will offer some insight into the likely path of interest rates. Stocks markets received a lift on Wednesday from falling yields on long-dated U.S. Treasury notes, which lowered borrowing costs. Yields move inversely to prices, and pulled back from a 16-year high notched earlier this week that was fueled by concerns around persistent inflation and the possibility of the Fed and other central banks keeping monetary policy tighter for longer.

Persons: Hong, Jerome Powell Organizations: Nvidia, U.S . Federal, Stocks, Treasury Locations: Asia, U.S, Jackson Hole , Wyoming

☆ China's economy is teetering — and these European companies are among the most at risk
▼ + stars: | 2023-08-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Several signals from China this week suggest that European companies with close ties to the world's second-largest economy may face difficulties in the coming months. "BMW has the highest China exposure among European OEMs [original equipment manufacturers] — we prefer a higher US exposure (which Mercedes has). Methodology: Revenue data by geography was available only for 422 out of the 600 companies on the Stoxx Europe 600 index. FactSet data relies primarily on geographical sales data disclosures from companies directly. When this is not available, FactSet applies a proprietary algorithm to estimate the percentage revenue exposure.

Persons: Mercedes, Daniel Schwarz Organizations: JPMorgan, Eurostat, CNBC, Mining, Rio Tinto, UBS, RBC, Porsche, BMW, Volvo Locations: China, China's, Wall Street, Europe, Mining London, American, Swiss

☆ European markets open lower; UBS ends Credit Suisse protection measures, shares up 4%
▼ + stars: | 2023-08-11 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index was down 0.5% in the first minutes of trading, with all sectors opening in negative territory. Mining stocks led losses with a 1% downturn, followed by oil and gas and autos, which both dropped 0.9%. UBS announced Friday it ended a 9 billion Swiss franc ($10.27 billion) loss protection agreement and a 100 billion Swiss franc public liquidity backstop originally put in place by the Swiss government when the bank took over rival bank Credit Suisse in March. The pan-European Stoxx 600 index ended the previous session up 0.8%, with household goods adding 2.2% to lead gains on the back of strong earnings. Mining stocks slid 0.9%.

Organizations: Bureau of Labor Statistics, UBS, Credit Suisse, Mining Locations: U.S, Swiss, Asia, Pacific

☆ The Metals Company announces a controversial timeline for deep sea mining that worsens the divide in an already bitter battle
▼ + stars: | 2023-08-04 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

It then went public in 2021 through a special purpose acquisition company, or SPAC, and is looking to establish deep sea mining as a business. "Voices against deep sea mining have never been so loud — from the fishing sector to financiers, indigenous peoples, scientists and big business." In addition, the findings of the study do not mean that Benchmark is endorsing deep sea mining, she added. Deep sea mining won't replace land-based mining, but rather will simply add another source of minerals, she said in March. Regardless, Singh says, there is a lot of work yet to be done by members of the council to establish regulations before any deep sea mining commences.

Persons: Gerard Barron, Carolyn Cole, it's, Amon, That's, Louisa Casson, Charlotte Selvey Miller, Miller, that's, Barron, Kannah, Pradeep Singh, It's, Singh, Allseas, — Organizations: The Metals Company, Los Angeles Times, Authority, ISA, Metals Company, Maersk, CNBC, Greenpeace, Company, Benchmark Mineral Intelligence, Benchmark, Democratic, PT Vale Indonesia, . Geological Survey, Metals, Mining, Darton Commodities, Afp, Getty, International Union for Conservation of Nature Locations: Clarion, San Diego, Norway, Mexico, United Kingdom, Texas, Canada, Indonesia, Russia, Democratic Republic of the Congo, Sorowako ., Amon, Kolwezi, Shabara, Congo, Pacific, Nauru, Tonga, Kiribati

☆ CNBC Daily Open: Don’t worry about the Fitch-induced sell-off
▼ + stars: | 2023-08-03 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on August 02, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] Value picks in the S&P 500A common complaint about the S&P 500 now is that it's too expensive. But there are still pockets of value in the index, CNBC Pro's Bob Pisani says.

Persons: Stocks, Larry Summers, Mohamed El, Erian, Jamie Dimon, Dow Jones, Bob Pisani Organizations: New York Stock Exchange, CNBC, U.S, Nasdaq, Mining, Fitch, Global, Former U.S, Allianz, JPMorgan Chase, Labor Department, Qualcomm Locations: New York City

☆ Record UK wage growth adds to inflation fears; Europe markets open higher: Live updates
▼ + stars: | 2023-07-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets advanced on Tuesday, tracking the trend across the Atlantic after Wall Street snapped a three-day losing streak, with investors looking ahead to key U.S. inflation figures later this week. The pan-European Stoxx 600 was up 0.3% in early trade, having pared some of its opening gains. Mining stocks added 1.4% to lead gains while autos slipped 0.5%, as most sectors and major bourses traded in positive territory. U.S. stock futures were little changed in early premarket trade after the major U.S. averages eked out gains on Monday. Back in Europe, U.K. wage growth hit a joint-record high in the three months to the end of May, deepening concerns about entrenched high inflation.

Persons: Hong, Wells Organizations: Wall, Mining, Investors, BlackRock, JPMorgan Chase, Citi Locations: Asia, Pacific, U.S, Wells Fargo, Europe, London

☆ India can aim lower in its chip dreams
▼ + stars: | 2023-07-05 | by ( Pranav Kiran | ) www.reuters.com time to read: +3 min

BENGALURU, July 5 (Reuters Breakingviews) - India’s semiconductor dreams are facing a harsh reality. After struggling to woo cutting-edge chipmakers like Taiwan Semiconductor Manufacturing (2330.TW) to set up operations in the country, the government may now have to settle for producing less-advanced chips instead. Prime Minister Narendra Modi wants to “usher in a new era of electronics manufacturing” by turning India into a chipmaking powerhouse. Mining conglomerate Vedanta’s $19.5 billion joint venture with iPhone supplier Foxconn (2317.TW) has stalled; plans for a separate $3 billion manufacturing facility appear to be in limbo, Reuters reported in May. Aiming lower could be just what India’s chip ambitions need.

Persons: Narendra Modi, China's, It’s, Ashwini, Robyn Mak, Thomas Shum Organizations: Reuters, Taiwan Semiconductor Manufacturing, Micron Technology, Micron, Taiwan’s, Zion Market Research, Semiconductor Industry Association, Financial, Thomson Locations: BENGALURU, China, India, U.S, Gujarat, Zion, , New Delhi, Taiwan, Washington, Beijing

☆ European markets open muted after strong first-half gains
▼ + stars: | 2023-07-03 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Traders work in the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, GermanyThe pan-European Stoxx 600 index was up 0.2% at the start of trading, with sectors mixed. European stock markets opened muted Monday after closing the first half of the year 8.8% higher. Euro zone inflation fell more than expected for the month of June, down to 5.5%, but core inflation continued to increase. Asia-Pacific markets rose Monday as investors digested a slew of manufacturing activity reports that showed a slump in output from the region. U.S. stock futures were little changed, meanwhile, as traders prepared for the second half of what's also been a stellar year on Wall Street.

Persons: what's Organizations: Frankfurt Stock Exchange, Deutsche Boerse AG, Media, Central, ., Independence Locations: Frankfurt, Germany, Asia, Pacific, U.S

☆ European markets open slightly higher on final day of first half; traders await key inflation data
▼ + stars: | 2023-06-30 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Christine Lagarde, president of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty ImagesEuropean equity markets opened in slightly positive territory Friday, after making marginal gains throughout the week, with investors keeping an eye on upcoming euro zone inflation data. European marketsTraders will be watching out for euro zone inflation data, due to be released at 10 a.m. London time, to see if further fiscal tightening by the European Central Bank is having the desired effect. European Central Bank President Christine Lagarde said Tuesday that inflation is still too high and it's too early to declare victory over consumer price rises. But the nature of the inflation challenge in the euro area is changing," Lagarde said from the Sintra central banking event in Portugal.

Persons: Christine Lagarde, Lagarde Organizations: European Central Bank, Bloomberg, Getty, Traders, Central Bank Locations: London, Sintra, Portugal

☆ European markets open cautiously positive as traders digest ECB rate hike
▼ + stars: | 2023-06-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index was up 0.2% as trading started, with most sectors in marginally positive territory. European stock markets opened cautiously positive on Friday as investors digested the latest monetary policy decision from the European Central Bank. The ECB opted to raise its benchmark policy rate by a further 25 basis points. No, we are not at [the] destination," she added, indicating at least one more rate increase in July. While the ECB opted for more fiscal tightening, the Federal Reserve decided Wednesday to hold off on a rate hike, but said there would be two quarter-percentage point moves before the end of the year.

Persons: Christine Lagarde Organizations: Retail, European Central Bank, ECB, Federal Reserve, Bank of Japan Locations: Asia, Pacific

The pan-European Stoxx 600 index was down 0.2% at market open, with most sectors in negative territory. Mining stocks led losses with a 0.8% downturn, followed by food and beverage stocks, which dropped 0.4%. Media and retail stocks bucked the trend and each gained 0.4%. The ECB is set to increase its benchmark policy rate by another 25 basis points when it meets Thursday, and is expected to say that future rate decisions will be data-dependent as uncertainty weighs on the inflation and growth outlook. The latest decision left the Fed's key borrowing rate in a target range of 5%-5.25%.The central bank forecast it will raise interest rates as high as 5.6% before 2023 is over.

Organizations: Media, ECB, U.S . Federal Reserve Locations: Europe

The regional Stoxx 600 index was up 0.45% at 8:20 a.m. London time, with all sectors bar utilities — down 0.4% — posting gains. Mining stocks shook off recent negativity to climb 1.14%, while tech stocks rose 1.54%. European stock markets opened higher as investors braced for the latest meeting of the U.S. Federal Reserve, which begins Tuesday. The data "will only add to the heat already on the Bank of England to raise interest rates further at the policy meeting next Thursday," said Ashley Webb, U.K. economist at Capital Economics. Investors are also preparing for the European Central Bank's monetary policy meeting Thursday, at which a 25 basis point hike is widely expected.

Persons: Dow Jones, Ashley Webb Organizations: Mining, U.S . Federal Reserve, U.S, Economists, Nasdaq, Bank of England, Capital Economics, Central Locations: London, U.K

☆ Europe stocks climb after U.S. debt ceiling deal; Swedish property group SBB soars 30%
▼ + stars: | 2023-06-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The Stoxx 600 index was up 1% around midday London time, as it climbed further from the two-month low hit on Wednesday. Mining stocks led gains, up 4.6%, while oil and gas rose 2% ahead of the June 4 OPEC+ meeting . European stock markets were higher Friday, after U.S. lawmakers passed a bill to raise the debt ceiling and cap government spending for two years, days before the default deadline. Recent comments from officials have indicated the central bank may opt to skip another hike at its June meeting. Governing Council member Francois Villeroy de Galhau said Thursday further hikes would be "relatively marginal" and "most of the path is complete."

Persons: Christine Lagarde, Francois Villeroy de Galhau Organizations: Mining, Federal Reserve, European Central Bank, ECB Locations: U.S, Europe

☆ A ‘Dirty’ Job That Few Want: Mining Companies Struggle to Hire for the Energy Transition
▼ + stars: | 2023-06-01 | by ( Yusuf Khan | ) www.wsj.com time to read: +10 min

Despite their part in the energy transition, mining companies face a perception of being in a “dirty” industry thanks to a legacy of mining disasters and accusations of worker exploitation and sexual assault. Canada’s mining and mineral-engineering enrollment was down 10% in 2020 compared with 2016, according to Canada’s Mining Industry Human Resources Council. SHARE YOUR THOUGHTS What message should mining companies deliver to young workers to attract them to the industry? Mining companies also face accusations of exploitation of local workforces. She hopes that younger workers will help mining companies evolve, taking on more social responsibility and improving their mining practices.

Persons: Lily Dickson, Mawson, ”, Alex Gorman, Peel Hunt, Rohitesh Dhawan, Alex Gorman “, Gorman, “, Haydon Mort, Stacy Hope, Cole Burston, Hope, Codelco, Centamin, Martin Horgan, Mort, Geologize, Jamie Kelsey Fry, Dickson, Yusuf Khan Organizations: University of Leeds, Leeds, Rio Tinto, McKinsey, U.S . National Center for Education Statistics, Canada’s Mining, Resources Council, Peel, International Council, Mining, Metals, Tinto, of Labor Statistics, Australian Bureau, Statistics, Geologize Ltd, BHP, . Workers, Bloomberg, Codelco, Chilean, Walmart, Recruiting, Centamin, Sustainable Business, “ Locations: Finland, Vancouver, Europe, U.S, Australia, Rio, South Africa, Lily Dickson Canada, Botswana, “, Saharan Africa, Ontario, Canada, Chile, Africa, Congo, Ghana, Zimbabwe, yusuf.khan

☆ Firms are bringing production back home because of the Ukraine war, China's slowdown — and TikTok
▼ + stars: | 2023-06-01 | by ( Lucy Handley | ) www.cnbc.com time to read: +8 min

Earnings calls discuss 'reshoring'A number of banks noted mentions of the domestic manufacturing trend in U.S. earnings calls for the most recent quarter. And we have never … got the target right," McRaith told an audience at a supply chain conference organized by software company o9 Solutions in April. Bill McRaith Former chief supply chain officer, PVHMcRaith, a former chief supply chain officer at Tommy Hilfiger-owner PVH , said the apparel industry both over-orders and under-orders stock by about 20% to 25%. If we build an economy based on electrification and batteries, it's going to be really important to control our own supply chain. "If we build an economy based on electrification and batteries, it's going to be really important to control our own supply chain," he told CNBC's "Street Signs Asia" in April.

Persons: Luke Sharrett, Savita Subramanian, Ryan Grabinski, they're, Bill McRaith, McRaith, PVH, Tommy Hilfiger, we've, Shein, Jade Gao, it's, Keith Phillips, Joe Biden, CNBC's, Elon Musk, Phillips Organizations: European Union, Bloomberg, Getty, Bank of America, UBS, Securities, o9 Solutions, CNBC, AFP, U.S ., Reshoring, EV, U.S, EVs Locations: China, Ukraine, U.S, Europe, Brazil, Guangzhou, U.S . U.S, Corpus Christi , Texas, Tennessee, United States

☆ Stablecoin giant Tether to mine bitcoin in Uruguay using renewable energy
▼ + stars: | 2023-05-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Cryptocurrency giant Tether is setting up a bitcoin mining operation in Uruguay using renewable energy, as the company looks to diversify the revenue mix to support its USDT stablecoin. The company said Tuesday that it plans to invest its resources into renewable energy production, marking its first foray into the energy sector. Tether is also on the hunt for "experts in the area" to support its expansion into the renewable energy space, it said. "By harnessing the power of Bitcoin and Uruguay's renewable energy capabilities, Tether is leading the way in sustainable and responsible Bitcoin mining," said Paolo Ardoino, CTO of Tether. "Our unwavering commitment to renewable energy ensures that every Bitcoin we mine leaves a minimal ecological footprint while upholding the security and integrity of the Bitcoin network."

☆ Goldman thinks the trade right now is on China's economy and gives 2 U.S. stocks to play it
▼ + stars: | 2023-04-24 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

The rebound in China's economy creates an opportunity for U.S. equity investors who can capture that strength by picking mining stocks, according to Goldman Sachs. "We recommend investors own mining stocks, which are levered to China growth through rising metals prices." Metals and mining stocks typically mirror the performance of the index, Goldman said. The firm said mining stocks in general are relatively cheap right now, trading at a 20% discount to the S & P 500. The SPDR S & P Metals & Mining ETF tracks the S & P Metals and Mining Select Industry Index, while the iShares MSCI Global Metals & Mining Producers ETF follows select global metals and mining producers, excluding gold and silver.

☆ Sell these mining stocks and load up on 8 energy ones instead: UBS
▼ + stars: | 2023-04-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Sell mining shares and invest in energy stocks instead — that's the message from the Swiss investment bank UBS. On the other hand, UBS expects energy stocks to continue delivering bumper cash flow this year, according to UBS. The following table shows eight buy-rated energy stocks with double-digit price targets. The table below shows six sell-rated mining stocks with significant downside to their price targets. UBS analysts have forecast that free cash flow from the mining sector will decline as bulk commodity prices retrace from their highs.

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