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WA mining stocks regain ground

Wednesday 4th of January 2017 10:10:12 AM



Western Australia mining stocks are regaining ground with at least one company reporting a share price gain of more than 400% in the past 12 months.

An end-of-year analysis released by broking firm CommSec shows five WA based mining companies made the list of the top ten performers reaping the highest percentage gains on the Australian Stock Exchange.

They included Resolute Mining, Galaxy Resources and Fortescue Metals Group.

"It's basically because of the significant recovery that we've had in a lot of commodity prices," CommSec chief economist Craig James said.

"The iron ore price was up over 80-odd per cent. We saw coal prices up similarly and oil prices up in the order of 40 per cent.

"The higher prices certainly produced stronger interest in the mining sector."



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