Veteran resource analyst Andrew Clayton from Perth broker Euroz Securities has returned from a pre-Indaba site visit to Orion Minerals’ (ASX: ORN) Prieska Copper-Zinc Project in South Africa with an upbeat view on the outlook for the stock.
The annual migration of the mining industry to the seaside delights of Cape Town and associated talkfests such as the Mining Indaba conference was trumped this week by the return of iron ore as a hot commodity.
The combined market value of Australia’s mid-tier miners has powered ahead for the second consecutive year (reports MiningNews).
PwC's 12th annual Aussie Mine report, which analyses the 50 largest ASX-listed miners valued at less than A$5 billion, found that the value of the group jumped 28% to $58.7 billion.
All but three of the group - AngloGold Ashanti, OceanaGold Corp and Tribune Mining - saw their market capitalisations grow over the 2018 financial year.