The Independence Group NL (ASX: IGO) share price was one of the worst performers on the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) today with a 5.5% decline to $4.20.
Although the majority of the gold miners, including Newcrest Mining Limited (ASX: NCM) and Evolution Mining Ltd (ASX: EVN), fell heavily due to rate rise talk in United States, Independence Group may have fallen a touch more than most due to its exposure to copper through its Jaguar operation.
The price of copper has fallen for a third consecutive day amid concerns that Chinese demand could be waning.
The OZ Minerals Limited (ASX: OZL) share price also sank lower today on the news.
However, not everyone is bearish on copper. BHP Billiton Limited (ASX: BHP) recently spoke positively about the metal, believing the price could climb higher in the years ahead.
