Emerging markets mining ADRs dropped in Thursday afternoon trading after news broke of a fatal accident in South Africa and a large South American miner swung to a first-quarter loss.
South Africa's Gold Fields Ltd. said Thursday that nine workers died in its South Deep gold mine. A sub cage winder taking the employees from the Twin Shafts complex's 105 level to the 110 level "apparently failed," the company said.
The company has suspended all operations at that mine shaft.
Shares of Gold Fields fell 41 cents, or 3 percent, to $13.09.
Peru's Compania de Minas Buenaventura SA said late Wednesday it swung to a loss of $63 million, or 49 cents per ADR, compared with a profit of $36.7 million, or 29 cents per ADR, in the year-ago period. Sales rose 41 percent to $212 million from $150.8 million.
Analysts polled by Thomson Financial expected, on average, revenue of $216.6 million.
Shares of Buenaventura slid $2.24, or 3.6 percent, to $60.33.
In the South African mining sector, shares of DRDGOLD Ltd. lost 47 cents, or 6.1 percent, to $7.18; shares of AngloGold Ashanti Ltd. dropped 35 cents to $33.77; and shares of Harmony Gold Mining Co. Ltd. fell 10 cents to $11.58.
China's Yanzhou Coal Mining Co. Ltd. posted the only positive move among emerging markets miners, rising $1.05 to $93.73.
The Bank of New York Emerging Markets ADR Index _ which includes shares of companies based in China, Mexico, Brazil and more _ gained 3.20 points to 374.62. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.
The Bank of New York Composite ADR Index gained 1.14 points to 188.10 as the U.S. markets jumped in afternoon trading.
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