Deutsche Bank has downgraded Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) to 'hold' from 'buy', following a strong run in the shares driven by a rebound in iron ore prices.
The broker argues that, while Rio continues to deliver solidly and will soon welcome a new chief executive, much of the good news is already reflected in the share price.
Shares in the FTSE 100's mining contingent, led by Glencore PLC (LSE:GLEN) and Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF), dropped sharply as copper prices dropped on Donald Trump's plans for 50% tariffs.
The US President confirmed that refined metal, including copper ore and concentrate, will be excluded from new US tariffs on the metal that take effect on Friday.
Shares in Anglo American PLC (LSE:AAL) fell 2.2% on Thursday after the group reported a 20% decline in underlying earnings for the first half, driven by challenging conditions in the rough diamond market.
EBITDA from continuing operations fell to $3 billion, down from $3.7 billion a year ago, as revenue slipped 7% to $9 billion.
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11), in its quarterly activities report for the ASX, highlighted that in the three months, it advanced discussions with Ghanaian government representatives to secure revised fiscal terms for the Ewoyaa Mining Lease.
New terms would reflect current lithium prices, it noted.
Gemfields Group Limited (AIM:GEM) said auction revenues of $60 million as it reported a trading update, covering a period of restart and renewed optimism.
In June, the gemstone miner raised $30 million in a rights issue whilst mining operations resumed in May at the Kagem site.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) said it remains on course to meet its full-year production and cost targets after a robust performance in the first half of 2025, reporting production of 647,000 ounces of gold.
The West Africa-focused precious metals group's all-in sustaining cost, a measure that reflects the total cost to produce each ounce, was $1,281 per ounce for the period, a modest increase of 4% compared with last year.
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has reported a productive June quarter marked by major technical and strategic progress at its Kasiya Rutile-Graphite Project in Malawi, alongside a boost from changing global graphite dynamics and strong results from its local community programs.
A geotechnical program critical to Kasiya’s Definitive Feasibility Study (DFS) has been completed, while agreements for long-term power supply have advanced in parallel with positive international recognition for the project's graphite and rutile products. The company also highlighted its expanded conservation farming program, which saw crop yields quadruple for participating farmers.
Arkle Resources PLC (AIM:ARK) shares soared 42% after the company announced it had raised £500,000 through a share placing at a 28% premium to the previous closing price - a rare outcome that signals strong investor confidence in its exploration plans.
The fundraising, supported by both new and existing shareholders in the UK and Ireland, gives Arkle the financial firepower to advance its zinc project in Ireland and a lithium and magnesium venture in Botswana.
Arkle Resources PLC (AIM:ARK) shares jumped higher in Wednesday morning’s deals after announcing a premium-priced placing.
The small-cap miner raised £500,000, with new and existing investors taking up shares at a price of 0.3p - a 28% premium to the prior day’s closing price.
Hamak Gold Limited (LSE:HAMA), primarily a gold explorer, announced it had acquired 20 Bitcoin at an average price of £88,569 each, marking the company's first entry into digital asset investment.
The bitcoin purchase was worth some £1.77 million.
Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) shares slipped lower on Wednesday after interim results showed the mining major’s softest first half profit for five years.
At $4.81 billion first-half underlying earnings were down 16% on the same period a year ago.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) this week hosted the UK Chancellor of the Exchequer Rachel Reeves at its South Crofty tin project.
The visit, on Tuesday, followed the UK Government’s £28.6 million investment earlier in the year via the National Wealth Fund.
Metals One PLC (AIM:MET1) has increased its shareholding in NovaCore Exploration Inc from 10% to 30%.
The company subscribed for 1.46 million shares in NovaCore, a private company progressing the Red Basin Uranium Project in Catron County, New Mexico.
Shares in First Development Resources (AIM:FDR) began trading on London’s AIM market on Tuesday, after it raised £2.3 million to help accelerate exploration across its portfolio of early-stage mineral projects in Australia.
FDR is focused on discovering copper, gold, rare earth elements, lithium, and uranium in some of Australia’s most promising mineral provinces.
Shares in Alien Metals (LSE:UFO) rose 27% on Monday after the company reported encouraging silver assay results from its Elizabeth Hill project in Western Australia.
Its joint venture partner, West Coast Silver, announced rock chip and float samples with silver grades reaching 490 grams per tonne (g/t), alongside notable copper (up to 0.42%) and gold (up to 0.19 g/t) values.
It was a milestone Monday for Ariana Resources PLC (AIM:AAU), as the AIM-listed gold explorer confirmed it has closed the institutional bookbuild for its planned dual listing on the Australian Securities Exchange.
The offer, which opened earlier this month, will raise between A$10 million and A$15 million through the issue of up to 53.6 million Chess Depositary Interests (CDIs), each representing 10 ordinary shares in the company.
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) increased production by nearly a quarter in the three months to the end of June but lowered its guidance for the full year, citing changes to its operational plans.
The London-listed miner produced 1.7 million ounces of silver equivalent (AgEq) in the second quarter, a 23% rise on the previous three months.