Scramble for critical minerals spurs an African rail revival

Southern Africa’s railways are suddenly getting global attention and attracting billions of dollars in investment, with a race to secure copper supplies needed for the energy transition at its... 

China’s Zijin Mining sees increasing threats to M&A ambitions

Major Chinese copper and gold producer Zijin Mining Group said a slowing global economy, geopolitical tensions, and resource nationalism could restrict its overseas deal-making ambitions. Net... 

Woodside Energy earnings set to dip as investors eye strategic deals

Woodside Energy, Australia's top independent gas producer, is on track to post a drop in interim earnings on Tuesday, with investors focusing on its deal-making strategy after the collapse of a... 

Pilbara slashes spending after plunge in profits

Lithium miner Pilbara Minerals has cut spending on its longer-term expansion projects after a crash in full-year net income that was driven by plunging prices for the battery metal. Capital... 

Investors rush into uranium miners on Kazakh production outlook

Uranium-focused investors in North America are plowing into in miners of the nuclear reactor fuel after the world’s largest producer, Kazatomprom released guidance that fell short of market... 

Societe Generale exits LME trading floor in blow for exchange

Societe Generale SA is withdrawing from the London Metal Exchange’s open-outcry trading floor, in a move that will raise fresh questions about the viability of the iconic “Ring” as a key... 

Briton must face South African Eskom bribery charges, court says

A British national wanted in South Africa over allegations of bribes paid in a deal struck with state-owned power utility Eskom Holdings lost a bid to block his extradition. A London judge... 

Canada tries to end railway lockout, sends dispute to labour body

Prime Minister Justin Trudeau’s government stepped in to try to end a work stoppage at Canada’s two largest railways that has brought rail traffic to a halt. Labor Minister Steven MacKinnon asked... 

Chinese zinc smelters meet to mull output cuts to stem losses

China’s major zinc smelters are discussing possible output cuts, after tight global supplies of concentrate and weak demand forced spot processing fees into negative territory. The response to the... 

Rare earth miner Tactical Resources plans Nasdaq listing via SPAC deal

Tactical Resources, a mining company focused on rare earth elements, has agreed to go public on the Nasdaq stock market through a merger with a blank-check firm, according to people familiar with... 

Miners tap trucks, divert shipments to sidestep Canada rail woes

Two mining giants are re-routing shipments and turning to trucks to deal with disruptions from a Canadian railway stoppage that threatens to undermine the industry’s operations. Rio Tinto Group... 

Flash copper price squeeze helps upend global trade flows

When copper surged toward a record high in New York in May, a ship was in the Pacific Ocean carrying a raw form of the metal from Chile to top buyer China. By the time the Ricarda arrived in... 

Trudeau calls on railways, union to reach deal to avoid strike

Prime Minister Justin Trudeau is urging Canada’s two largest railways and unionised workers to reach a deal to avert a strike that businesses warn will cause significant harm to the Canadian and US... 

SQM keeps expanding into lithium glut but vows market review

The world’s No. 2 lithium producer SQM shipped record-high volume last quarter and vowed to keep growing production in Chile even as slumping prices prompt a review of “less attractive” markets.... 

Peabody rises after Thomist takes stake, suggests buybacks

Peabody Energy rose more than 7% after Thomist Capital Management disclosed a 9.96% stake and urged the coal miner to buy back shares. Thomist suggested to Peabody management that the company... 

Arch merges with Consol to create a coal-export powerhouse

US coal producer Arch Resources Inc. agreed to merge with rival Consol Energy in a $2.3-billion deal aimed at creating a North American mining heavyweight to deliver the fuel around the world. The... 

Johannesburg weighs bond sale to help fix broken infrastructure

The City of Johannesburg is considering raising as much as R2-billion of new debt to address a mounting infrastructure backlog. Newly elected Mayor Dada Morero said the city is exploring options to... 

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... 

Zimbabwe bans riverbed mining to protect water sources

Zimbabwe has banned riverbed alluvial mining with immediate effect to protect the environment, a move that could impact many of the country’s gold miners. Agriculture Minister Anxious Masuka made... 

China’s exports of critical minerals recover after curbs imposed

Chinese exports of critical minerals are returning to more normal levels, undercutting fears that the restrictions imposed by the government last year could choke off supplies crucial to high-tech... 

Iron-ore rises for third day on China policy support optimism

Iron-ore rose for a third day — recovering more of its 9% plunge last week — on signs Chinese authorities will take more steps to try and revive the country’s moribund property market. The... 

Coal miner Arch Resources is said to be in talks to merge with Consol

Arch Resources is nearing an agreement to merge with Consol Energy in a combination that would create a $5-billion coal mining company, according to people familiar with the matter. An agreement... 

S Africa moving to finalise framework for private sector participation in rail and ports

South Africa plans to complete a framework for private companies to use State-owned port and rail infrastructure within six months, Transport Minister Barbara Creecy said, a move that could help... 

Coal-rich Indian state to pass mining tax after court ruling

The Indian state of Jharkhand has passed a bill imposing mining taxes, according to people familiar with the matter, a move that’s set to inflate the prices of minerals from coal to bauxite. The... 

Iron-ore to extend rout as it’s ‘different this time,’ Citi says

Iron-ore is poised to extend declines into the $80/t range as China’s steelmakers reduce production, according to Citigroup Inc., which pared price forecasts and said that market dynamics have... 

Gold steady above $2 500 ahead of Powell’s Jackson Hole speech

Gold was steady near a record high before a hotly anticipated speech by Federal Reserve chair Jerome Powell later in the week, which may offer clues on how rapidly the central bank will cut... 

Gold bars are worth a million dollars for the first time

For the first time ever, a bar of gold is worth a cool one million dollars. The milestone was reached Friday, when the precious metal’s spot price surpassed $2 500 per troy ounce, an all-time... 

Chinese copper exports fall from record as local demand rebounds

Chinese copper exports dropped last month from an all-time high, as domestic buyers took advantage of the metal’s rapid retreat in price. Exports of unwrought copper and products fell 40% from... 

Yukon aims to reopen mine it seized from Victoria Gold

Canada’s Yukon Territory wants to eventually reopen a gold mine it seized from Victoria Gold after a major landslide and cyanide spill at the facility earlier this summer. Yukon’s government said... 

Iron-ore battered to 2022 low as China’s steel crisis hits home

Iron-ore headed for a brutal weekly loss, hitting the lowest level since 2022, on concern that a steel-industry crisis rippling across China will sap demand, while supplies from miners remain... 

Chinalco is said to eye stake in biggest Philippine copper mine

Aluminum Corp. of China is considering investing in what is set to be the Philippines’ largest gold and copper mine as part of its efforts to boost its global footprint, according to people... 

Former Trafigura COO’s Swiss corruption trial set for December

The Swiss trial of Trafigura Group and its former COO Mike Wainwright on corruption charges has been scheduled for December — in a case that’s likely to shine a renewed light on allegations of... 

China slashes steel output as industry sounds alarm on demand

Chinese steelmakers slashed output last month as woeful demand forced steep cuts on an industry contending with a collapse in margins. Steel production in July plunged about 9% on both the month... 

Zimbabwe commissions wind-energy study to help add generation

Zimbabwe has commissioned a study of wind power potential in the Southern African nation as part of an effort to increase electricity generation. The government hired Noubeg Power, a firm based in... 

Canada’s Yukon seeks to place Victoria Gold into receivership

The government of a Canadian territory is seeking to place Victoria Gold into receivership after a major landslide and cyanide spill at the company’s flagship bullion mine earlier this summer.... 

S Africa urged to lift growth as business confidence rises

South Africa’s new multi-party government has an opportunity to boost economic growth and investment, the country’s Chamber of Commerce said, as it announced a slight recovery in business... 

Gold approaches record high with focus on US inflation data

Gold edged up to near a record, as investors awaited key inflation data that could prompt the Federal Reserve to cut interest rates next month. Bullion reached as high as $2 478.61 an ounce –... 

Illegal mining soars near First Quantum's idled Panama mine

Illegal mining near First Quantum Minerals' Cobre Panama copper mine has soared since the facility suspended operations last year, an industry group warns. More than 250 instances of illegal... 

World’s biggest steel producer warns of ‘severe’ industry crisis

China’s steel industry is facing a crisis more serious than the downturns of 2008 and 2015, the leading producer warned, highlighting a need to preserve cash and likening conditions to a “severe... 

Rising prices are deepening the electricity divide in South Africa

Late last year, residents of Yeoville and Bellevue — crumbling inner city areas of Johannesburg — went without power for four weeks after a 63-year-old cable broke. For several months after, power...