Mining stocks led the Australian sharemarket higher on Wednesday amid further corporate activity in the lithium sector, and optimism about China’s economic reopening which lifted iron ore prices above $US120 a tonne.. Azure owns 60 per cent of the Andover Project in the Pilbara.Bloomberg
BHP climbed 1.5 per cent to $48.51. Rio Tinto added 1 per cent to $119.42 and Fortescue Metals Group advanced 2.4 per cent to $22.30. Australian job vacancies in November totalled 444,200, representing a 4.9 per cent decrease from their August level. Insurance Australia Group was raised to “overweight” at JPMorgan with a price target of $5.50. The stock rose 2.8 per cent to $4.76.
BHP hits record high & MorganStanley sees further upside to IronOre prices, pencilling in an average price of $US140/t for Q2 this year 🟰Eye-watering profits for UFO AlienMetals which will be a low-cost producer of premium high-grade D$O Iron Ore Current Fair Value = 2.7p