Professional services firm Ernst & Young’s Canadian Mining Eye index surged 42% during the three months ended June 30, as major miners gained 29% on the back of rising gold and base metal prices.
Gold prices increased by 7% in the second quarter, compared with 16% gains in the prior period. The major base metals performed sluggishly until May, with the exception of zinc. The majority of base metals’ prices rebounded in June, but zinc continued to outperform amongst the metal group with a 16% gain in the second quarter, compared with a 14% gain in the first quarter, thanks to positive supply-demand gap working in its favour.
