Gold climbs to another record with Fed rate cut expected in days

Gold rose to a record as markets waited for the Federal Reserve to begin easing monetary policy for the first time in more than four years. Bullion climbed as much as 0.4% to a high of $2... 

South Africa’s work visa reform plans slowed by tax issues

South Africa’s plan to attract more professionals to its skills-starved economy through the introduction of a so-called nomad visa for remote workers has been slowed by the need to amend tax... 

Bezos-backed group to prepare South African grids for investment

A global organisation backed by Amazon Founder Jeff Bezos’ climate and biodiversity fund said it’s setting up a programme to attract investment into South African municipal power grids, which need... 

Aussie mining shares rally under pressure after bumper week

The best week in over a year for Australia’s mining shares is at risk of reversing as concerns deepen over China’s growth trajectory. Weakening factory output and consumption data in the world’s... 

Rio Tinto boosts stake in graphite miner as China curbs exports

Mining heavyweight Rio Tinto Group has increased its shareholding in an Australian-listed graphite developer to the maximum allowed before it must make a takeover offer, as China limits exports of... 

South Africa told by Germany its energy transition too slow

South Africa has been told that the pace of its energy transition is too slow by a key funder, Germany, Environment Minister, Dion George, said. Germany is one of the partners in the so-called Just... 

Zambian copper mines desperate for power find an unlikely saviour

Zambia’s biggest mines are turning to a surprising power source as the copper-producing nation battles an unprecedented energy crisis: South African electricity company Eskom Holdings, which until... 

Gold rises to another record high ahead of expected Fed rate cut

Gold rose to another record high — after surging almost 2% to an all-time peak on Thursday — as the dollar extended declines ahead of a widely expected Federal Reserve rate cut next week. Bullion... 

Pravin Gordhan dies at 75

Pravin Gordhan, who held three positions in South Africa’s cabinet and won plaudits for standing up to Jacob Zuma during his scandal-marred presidency, has died. He was 75. Gordhan died in hospital... 

US State Department official sees bipartisan support for Africa critical mineral projects

A senior US State Department official reassured African governments that an initiative to help counter China’s influence through developing infrastructure on the continent will continue even after... 

US Ex-Im Bank eyes investment in another Mozambique LNG project

The US Export-Import Bank is considering funding a liquefied natural gas project led by Eni off the coast of Mozambique, years after investing in an onshore facility to produce the fuel that’s been... 

Lundin CEO says potential buyers are eyeing its European mines

Lundin Mining’s top executive says several potential buyers are looking at its mines in Europe as the Canadian metals producer looks to sell its oldest assets. “We have a lot of interested parties... 

Struggling miners put the brakes on South Africa’s stock rally

South African stocks have their noses in front of emerging-market peers, but glum news from China threatens to weigh on the key mining sector and stymie that outperformance. Johannesburg’s main... 

Lithium world asks if surprise mine shutdown can arrest slump

An unexpected shutdown at one of China’s biggest lithium mines has left the industry scrambling to judge if the move will be enough to end the battery material’s prolonged price slump. The share... 

Transnet breaches loan terms again as debt weighs on investment

Transnet breached loan covenants for a second year running as the South African port and rail operator staggers under a debt burden that’s constraining investments needed to resurrect its ailing... 

Zimbabwe’s biggest miners seek $182m for solar projects

Some of Zimbabwe’s biggest miners are seeking $182-million to develop 200 MW of locally-generated solar power, according to the head of the renewables company responsible for the projects. The... 

South Africa rejects civil-servant pay demand, offers 3% raise

The South African government rejected a demand by public-sector workers for a 12% pay increase, saying it’s unaffordable. Instead, the state offered a 3% raise, Frikkie de Bruin, general secretary... 

Iron-ore tests floor as plunge to $90/t puts mines at risk

Iron-ore’s plunge is about to test the view that the steelmaking material can find solid price support at $90 a ton or more as high-cost mines are nudged out of the market. Futures in Singapore... 

Congo sells copper from Tenke to trio of trading heavyweights

Glencore, Mercuria Energy Group and Trafigura Group are buying copper from the Democratic Republic of Congo’s State miner, which is marketing metal from joint venture projects for the first time.... 

Net zero needs more metals, but less extraction from the earth

The mining industry is currently one of the most significant contributors to planet-warming emissions — but it's on track to become one of the most important sectors for a net-zero future. Annual... 

South Africa may exit dirty-money list by October 2025, Treasury official says

South Africa should address outstanding shortcomings in tackling illicit financial flows to exit a global dirty-money list by either June or October next year, provided there’s no surprises,... 

Anglo American starts cutting stake in Amplats with share sale

Anglo American offered to sell about 13-million shares in Anglo American Platinum (Amplats) in a move aimed at increasing the South African firm’s free float ahead of a full exit. The shares... 

National roads need over R307-billion of repairs

South Africa, which already faces a heavy bill to upgrade its port, rail and electricity infrastructure, needs R307-billion to repair and improve its sprawling national road system. The South... 

Glencore billionaire Alex Beard appears at UK court accused of corruption

Alex Beard, the billionaire former head of oil at Glencore, appeared for the first time at a London court after being charged with corruption by the UK’s fraud agency. Beard, 57, was accused last... 

Australia should address concerns of mining industry, group says

Australia should resolve issues related to the environment approval process, said Tania Constable, CEO of the country’s minerals council, highlighting the industry’s concerns that the development... 

Engie sees African renewables industry as ripe for consolidation

Engie, the French utility that led a $1-billion buyout of a rival’s renewable energy assets in Africa last year, expects more deals to be seen in the industry across the continent. While focusing... 

China sets Up Beijing-backed lithium group to tap salt lakes

China Minmetals will take control of a province-backed lithium company in a bid to speed development of a “world-class” industry extracting the battery material from salt lakes in the far west of... 

Iron-ore slumps below $90 as growth fears hit commodities

Iron-ore sank below $90 a ton for the first time since 2022 as industrial commodities faced sustained pressure from tepid Chinese demand and gathering worries over global growth. Futures for... 

Citi says US election risk will keep metals contained for now

Uncertainty around the US presidential election in November will prevent meaningful gains for metals by subduing global risk appetite and possibly delaying government stimulus in China, according... 

South Africa lures BYD with critical minerals, car output skills

Talks are progressing between BYD Co. and South Africa over a possible investment by the Chinese electric vehicle manufacturer, a top government official said, although no specific time frame for... 

Germany ready to help fund R390bn South African grid revamp

Germany is willing to help fund the R390-billion ($22-billion) that South Africa said it needs to incorporate more solar and wind power into the national grid and ensure its energy security. The... 

Aramco, Trafigura said to compete for Shell South Africa assets

Saudi Aramco, Abu Dhabi National Oil Co and commodities trader Trafigura are among suitors competing to buy Shell’s service stations in South Africa, according to people familiar with the matter.... 

China’s steel crisis drives iron-ore to worst week since March

Iron-ore steadied to remain on track for its worst week since March, with few signs of a recovery for China’s beleaguered steel market. “There is no significant improvement in demand for steel... 

Yukon gold mine disaster sparks fears of soaring taxpayer bill

The sudden collapse of Victoria Gold's Eagle Mine — and with it, the company — is part of a long and ugly history in northern Canada. To this day, Canada’s federal government is still cleaning up... 

US agency to join $225m investment in African fibre firm

A US development agency will be one of the main investors as African fibre company Liquid Telecommunication Holdings Ltd. seeks to raise $225 million in equity by the end of the year, according to... 

Chinese lithium producers embrace hedging to manage volatility

Chinese lithium processors are ratcheting up hedging to offset wild swings in the battery metal, a sign that local futures launched around a year ago are gaining traction. Several companies have... 

Indonesia sees nickel holding near current level on new plants

Indonesia’s government sees nickel prices stabilizing near current levels in the future, as new plants in the world’s biggest producer offset rising demand and keep the market well supplied.... 

South Africa rail, power revamp hinges on ending cable theft

The recovery of South Africa’s two biggest State-owned companies — beset by years of corruption and theft — relies on one common component: protecting thousands of miles of cables from theft and... 

South Africa targets China as key market for its farm produce

South Africa new 10-party coalition government aims to increase agricultural exports to China, part of a drive to forge closer ties with the Asian nation, fire up its economy and tackle a 34%... 

Iron-ore slides closer to $90 with China’s steel demand at risk

Iron-ore edged closer to its lowest since 2022 as the steelmaking material extended a selloff on fears for China’s crisis-wracked steel industry. Futures in Singapore fell 1.5% to $92.20 a ton by...