Shares of commodities producers rose amid relief about storm damage and North Korean bomb plans. Hurricane Irma didn't have as devastating an effect as feared on Florida and fears that Premier Kim Jong Un would order another missile test also failed to materialize.
In response, traders sold out of safe havens such as gold and Treasurys and bought back into industrial metals and mining companies. Miners operating in Tanzania should brace for further showdowns with the government as officials extend the strict enforcement of tax laws in search of a greater share of mine revenue, warned an analyst with research firm NKC African Economics, as reported earlier. Recently, Tanzanian authorities confiscated mined materials from Petra Diamonds.
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(END) Dow Jones Newswires
September 11, 2017 16:21 ET (20:21 GMT)