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Materials Shares Higher; Copper Bounces Bank -- Materials Roundup

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07/12/2018 | 10:56pm CEST

Shares of commodities producers edged higher as some commodities prices rose. Copper prices bounced back after nearing bear-market territory a day earlier, with some analysts suggesting recent selling on trade threats might have been overdone. Market participants were also weighing news that Indonesia, Freeport-McMoRan and Rio Tinto reached a tentative $3.85 billion agreement to give Jakarta majority control of the world's second-biggest copper mine, potentially advancing a deal amid a yearslong conflict that has spooked mining investors and threatened metal supplies. Freeport's share of the payment would be $350 million, while Rio Tinto would take $3.5 billion for its stake. ([email protected])

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