TMH Market Close: ASX200 ends lower, energy bucks the trend

We’re bringing you Market Close from Day two of the MiningNews Select and the Future of Mining conferences in Perth.

About 30 mining companies have been discussing their projects with investors and hearing guest speakers, including the Minister for Mines Bill Johnston and Liberal Leader Libby Mettam.

Meanwhile, the ASX200 closed down nearly half a per cent today. 

The energy sector was the best performer, with the global supply squeeze seeing oil prices continue to rise.

In the green

Raiden Resources (RDN) gained 20 per cent on high-grade lithium and rubidium hits at its Andover South project in Western Australia.

The company has a swarm of pegmatites including one that’s 50 metres wide and grading up to 1.81 lithium oxide. 

RDN closed the day at 3.5 cents. 

Mining explosives and chemicals company Orica (ORI) is up about 1.5 per cent on news it’s on track to meet higher pollution reduction targets. 

Orica hopes to slash its level of emissions by at least 45 per cent by 2030, with a short-term target to cut emissions by 30 per cent by 2026. Orica has also committed to sourcing a high level of renewable energy for its operations. Orica closed at $15.90.

And EcoGraf (EGR) was up 9 per cent after updating the market on its plans to produce active anode materials for the Electric Vehicle battery market.

An independent study has shown that it can reduce its operational expenditure costs for its Epanko graphite project in Tanzania by up to 50 per cent on previous expectations.  EGR closed the day at 12 cents.

In the red

Logistics company Qube Holdings (QUB) is down more than a per cent after an employee fatality yesterday afternoon at its forestry harvesting operations on the Fleurieu Peninsula in South Australia. Police and SafeWork authorities are now investigating. Qube closed the day below $2.90.

Fintech Block (SQ2) shed nearly 4.5 per cent after revealing Square CEO Alyssa Henry will leave the company early next month after more than nine years service. At that time, Block’s chair Jack Dorsey will also serve as head of Square.

Block closed trade below $79.

And as iron ore dipped there was a flow through to the mining giants – with BHP down nearly 1.5 per cent today, FMG by a per cent and RIO Tinto by more than half a per cent.