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Toronto Stocks Slide; Lundin Mining Falls Amid Sinkhole Investigation in Chile

08/19/2022 | 12:15pm EST

By Adriano Marchese


Canadian stocks were firmly in the red on Friday midday trading, in step with most global markets, and on track for a minor decline in the week. In the session, only communications posted gains, while tech services, process industries and producer manufacturing led the declines. Lundin Mining Corp. shares were lower after the company said that its Minera Ojos del Salado mining operations in Chile remained suspended while it investigates a nearby sinkhole.

At midday, Canada's S&P/TSX Composite Index was 0.82% lower at 20100.04 and the blue-chip S&P/TSX 60 fell by 0.72% to 1217.05.

Lundin Mining Corp. said after markets closed on Thursday that its operations there remain suspended, but noted that the status of the sinkhole hasn't changed materially since detection.


Other market movers:

Shares in Wheaton Precious Metals Corp. were lower after the company said on Thursday after markets closed that it will divest a silver stream in Peru to a subsidiary of Glencore PLC for $150 million, lowering its average production over the course of the decade.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

08-19-22 1214ET

Stocks mentioned in the article
ChangeLast1st jan.
GLENCORE PLC -1.11% 542.5 Delayed Quote.44.69%
LUNDIN MINING CORPORATION -0.72% 8.3 Delayed Quote.-15.28%
MSCI PERU (GDTR) 0.77% 5938.69 Real-time Quote.14.06%
S&P GSCI PRECIOUS METALS INDEX 0.68% 2374.54 Real-time Quote.-1.39%
SILVER 1.67% 23.456 Delayed Quote.-0.87%
WHEATON PRECIOUS METALS CORP. -0.78% 53.22 Delayed Quote.-1.18%
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