In a week where the world was reminded of the threat that terrorist groups pose, 127 people were killed following systematic attacks on various locations in Paris (See page 2), while another terrorist attack, this time in Mali, coincided with the end of the Mali International Mining Conference and Exhibition; the attack took place at the popular Radisson Blue Hotel in the Malian capital of Bamako, where gunmen killed 27 people, and took 170 others hostage.
Several mining companies have operations/projects in the region including B2Gold Corp. (BTO-T), IAMGOLD Corp. (IAG-NYSE) and Randgold Resources Ltd. (RRS-LON); B2Gold reported two of its employees who were staying at the hotel at the time of the siege were later extracted safely, while concerns that other delegates from the conference may have also been staying at the hotel. At the time of publication, reports suggested that the hostage situation was over.
Meanwhile, copper (↓4.8%) plunged further towards the $2.00 per pound level, before finishing at 2.09 per pound, while nickel (↓8%), lead (↓0.87%) and zinc (↓3.39%) each finished at $3.94, $0.72 and 0.70 per pound respectively. Precious metals were mixed, with gold (↓0.5%), silver (↓0.5%) and platinum (↓0.6%) all lower, finishing at $1,076, $14.18 and $855 per ounce respectively, while palladium (↑4%) recovered slightly after last week’s 15% fall to finish at $563 per ounce. The price of WTI crude (↓1%) dropped slightly to finish at $41.72 per barrel, while the UxC Broker Average Price (BAP) of uranium rose slightly after remaining flat for most of last week, finishing at $36.11 per pound.
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