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Reuters

Reuters is an international news organization owned by Thomson Reuters. Until 2008, the Reuters news agency formed part of an independent company, Reuters Group plc, which was also a provider of financial market data.

Australian iron-ore giants' shares sink on disappointing China stimulus

11th November 2024 Shares in Australia's iron-ore miners slumped on Monday after another round of stimulus measures by their top customer China disappointed investors who had hoped for measures that would boost commodities demand. Iron ore prices slid to their lowest in more than two weeks on Monday after China's... →

Resolute Mining slumps after Mali detains CEO, two other employees

11th November 2024 Shares of Australian gold miner Resolute Mining plunged 32% on Monday in their worst day in 16 years, after three of its employees including CEO Terence Holohan were detained by government officials in Mali. Holohan and two other company executives were in Bamako, the West African nation's... →

Resolute Mining CEO Terence Holohan

China's October coal imports rise 29% year-on-year

8th November 2024 China's coal imports rose 29% in October from a year earlier, customs data showed on Thursday, putting imports on track to notch another record high in 2024. October imports totalled 46.25-million metric tons, according to the General Administration of Customs. That was down slightly from... →

South Africa concerned Trump election will impact climate talks

8th November 2024 South Africa is concerned by the impact Donald Trump's election as the next president of the United States may have on talks to tackle climate change, its environment minister said on Friday. Trump's election and the collapse of Germany's coalition government this week have come right before... →

Photo by Reuters
US President-elect Donald Trump

MP Materials posts smaller-than-expected loss on higher output, sales

8th November 2024 US rare earths miner and processor MP Materials on Thursday reported a smaller-than-expected loss in the third quarter, helped by higher production and sales volumes of the strategic materials. MP processes rock it extracts from its Mountain Pass mine in California into rare earths concentrate... →

Iron-ore falls ahead of China unveiling fresh fiscal stimulus

8th November 2024 Iron-ore futures slid on Friday, as investors adopted a cautious stance amid continuously falling demand and ahead of top consumer China unveiling its keenly-watched fiscal stimulus package. The most-traded January iron-ore contract on China's Dalian Commodity Exchange (DCE) ended daytime trade... →

Codelco touts October as best production month this year

8th November 2024 Chile's State-run copper company Codelco registered its best production of the year in October, chairman Maximo Pacheco said on Thursday. The world's top copper miner has been struggling to lift output after hitting historic lows in the last two years. →

Ahead of Rio Tinto buyout, Arcadium's profit dips on sliding lithium prices

8th November 2024 Arcadium, the lithium producer that has agreed to sell itself to Rio Tinto, posted an 82% drop in quarterly income on Thursday that missed Wall Street's expectations due to sliding prices of the electric vehicle battery metal. Much of the lithium industry is contending with a supply glut brought... →

Australia's HESTA places MinRes on watchlist over governance woes; Moody's downgrades outlook

8th November 2024 Australian superannuation fund HESTA said on Friday it has placed Mineral Resources on its watchlist, citing disappointment with the company's inadequate response to governance issues involving billionaire founder Chris Ellison. Shares of the company fell as much as 2.5% to A$40.610 as of 00:55... →

MinRes founder Chris Ellison

Gold ETF demand turns positive for year-to-date, says WGC

8th November 2024 Global physically-backed gold exchange-traded funds (ETFs) saw inflows for the sixth straight month in October, with year-to-date flows turning positive for the first time this year, the World Gold Council (WGC) said on Thursday. Demand was supported by North American and Asian flows, the WGC added. →

Barrick Gold misses profit estimates on higher costs, lower Nevada production

7th November 2024 Canada's Barrick Gold missed Wall Street estimates for third-quarter profit on Thursday, weighed down by higher costs and lower production at its Nevada mines. Total gold output at Nevada Gold Mines fell to 385 000 oz in the July-September quarter, compared with 401 000 oz in the preceding three... →

Pueblo Viejo

South African rand recoups some losses against dollar

7th November 2024 South Africa's rand recouped some losses on Thursday, a day after emerging market assets took a hit following Donald Trump's win in the US election. At 0820 GMT, the rand traded at 17.5175 against the dollar, over 0.7% stronger than its previous close. The local currency fell about 2.5% against... →

Grindrod suspends port operations in Mozambique after border closure

7th November 2024 Logistics company Grindrod has suspended port and terminal operations in Mozambique after South Africa temporarily closed the main border with its northeastern neighbour over safety concerns after a violent crackdown on post-election protests, the company said on Thursday. The suspension will hit... →

2024 will be world's hottest on record, EU scientists say

7th November 2024 This year is "virtually certain" to eclipse 2023 as the world's warmest since records began, the EU's Copernicus Climate Change Service (C3S) said on Thursday. The data was released ahead of next week's UN COP29 climate summit in Azerbaijan, where countries will try to agree a huge increase in... →

US sets stage for second oil and gas auction in Alaska refuge

7th November 2024 The Biden administration took a key step toward holding a required sale of oil and gas leases in an Alaska wildlife refuge with the publication of a final environmental review, the Interior Department said on Wednesday. The analysis outlined a preferred scenario under which the agency would... →

Nutrien misses third-quarter profit estimates as lower crop prices weigh

7th November 2024 Nutrien fell short of Wall Street expectations for third-quarter profit on Wednesday, as the fertilizer producer struggled with lower crop prices, sending US-listed shares of the company down 2.3% after the bell. Tight global supply, low channel inventories and seasonal demand in several key... →

Rio Tinto exec asks Trump Administration to speed up permitting

7th November 2024 US President-elect Donald Trump's new administration should focus on speeding up the permitting process to ensure there is enough copper for the energy transition, said a Rio Tinto executive on Thursday, referring to its stalled Arizona mine. Rio Tinto, alongside partner BHP, is developing the... →

Bolt Baatar

Commodity prices fall after Donald Trump elected US President

6th November 2024 Commodities from oil and gas to metals and grains dropped on Wednesday as the dollar rallied and victory for Republican Donald Trump in the US presidential election stoked concerns about tariffs and economic growth. Trump recaptured the White House by securing more than the 270 Electoral College... →

Trump return will slow, not stop, US clean energy boom

6th November 2024 Donald Trump's return to the White House will refocus the nation's energy policy onto maximising oil and gas production and away from fighting climate change, but the Republican win in Tuesday's Presidential elections is unlikely to dramatically slow the US renewable energy boom. That is because... →

Republican Presidential nominee former US President Donald Trump next to his wife Melania Trump.

Trump claims 'powerful mandate' after Fox News projects he has won US presidency

6th November 2024 Republican Donald Trump claimed victory in the 2024 presidential contest after Fox News projected that he had defeated Democrat Kamala Harris, which would cap a stunning political comeback four years after he left the White House. "America has given us an unprecedented and powerful mandate," he... →

Photo by Reuters
Donald Trump

Commodities under pressure on likely Trump win in US Presidential race

6th November 2024 Commodities from oil to metals and grains slid on Wednesday as the dollar strengthened, with investors increasingly pricing in that Donald Trump will win the US Presidential election. Trump has won the 270 electoral votes needed to claim victory over challenger Kamala Harris, according to Fox... →

Republican Presidential nominee and former US President Donald Trump takes the stage with his wife Melania, his son Eric, and his daughter-in-law Lara, following early results from the 2024 US Presidential election in Palm Beach County Convention Center, in West Palm Beach, Florida.

Suez Canal Economic Zone set for rapid expansion – chairperson

6th November 2024 Egypt's Suez Canal Economic Zone (SCEZ) has invested $3-billion on infrastructure over the past few years and has plans to invest a similar amount over the next few years as it works to attract investors, its chairman said in an interview. The zone, a collection of six ports and four industrial... →

Delay in Chile mining permits a serious problem, says local head of Freeport

6th November 2024 An extended delay in enacting reforms in Chile aimed at expediting mining permits represents a "serious" problem for the industry in the world's top copper-producing country, the local head of US miner Freeport-McMoRan said on Tuesday. Chile, also the world's second-biggest producer of the key... →

El Abra copper mine

Copper drops as dollar strengthens on early US election results

6th November 2024 Copper fell along with most metals, weighed down by a rise in the dollar as results of the US election started to come in. Votes were still being counted and polls remained open in many key states in the race between Kamala Harris and Donald Trump. A strengthening dollar makes metals more... →

Donald Trump has taken preliminary leads in some key swing states.

Codelco seeks permit for $650m Andina water project

5th November 2024 Chile's state copper giant Codelco has applied for an environmental permit for a $650-million project to make water use in its Andina mine more sustainable, the company said on Tuesday. The plan is to funnel water from the mine's Ovejeria tailings, or mine waste, and other sources to the... →

South Africa's private sector growth sustained in October as costs fall, PMI shows

5th November 2024 South Africa's private sector maintained its growth trajectory in October, bolstered by a decline in business costs and selling prices, a Purchasing Managers' Index (PMI) survey showed on Tuesday. The S&P Global South Africa PMI recorded a reading of 50.6, slightly down from September's 51.0, but... →

World's first wooden satellite, developed in Japan, heads to space

5th November 2024 The world's first wooden satellite, built by Japanese researchers, was launched into space on Tuesday, in an early test of using timber in lunar and Mars exploration. LignoSat, developed by Kyoto University and homebuilder Sumitomo Forestry, will be flown to the International Space Station on a... →

Canada proposes sharp cut in oil and gas sector emissions by 2030

5th November 2024 The Canadian government on Monday released draft regulations that would cap emissions of greenhouse gases from the oil and gas sector by 35% from 2019 levels, slightly less than initially envisaged. The regulations would create a cap-and-trade system designed to recognize better-performing... →

Blocked Vodacom merger derails South African telcos M&A push, analysts say

4th November 2024 The Competition Tribunal's decision to block a merger between Vodacom and a major fibre operator will likely derail a push by South African telecoms firms to use big M&A deals as a shortcut to digital infrastructure expansion, analysts said. The ruling, which blocked South Africa's top telco from... →

Rusal raises bar in Nornickel dispute with fresh claims against Potanin

4th November 2024 Aluminium giant Rusal has added fresh claims to its legal dispute against Russian billionaire Vladimir Potanin, CEO and largest shareholder of metals producer Nornickel, court documents seen by Reuters showed. The new claims allege that the creation of digital exchange platform Atomyze and... →

Vladimir Potanin

Botswana's new President aims to clinch De Beers diamond sales pact soon

4th November 2024 Botswana's new president, Duma Boko, said on Friday he wanted to conclude talks for a new sales pact with global diamonds giant De Beers as soon as possible. De Beers, a unit of mining company Anglo American, last year agreed a new diamond sales pact, which would see the government's share of... →

Photo by Reuters
Botswana President Duma Boko (right)

Canada to unveil long-awaited plan for emissions cap on oil and gas sector

4th November 2024 Canada will on Monday unveil the details of its long-awaited plan to cap emissions of greenhouse gases from the oil and gas sector, an idea that the energy industry and some provinces strongly oppose. A government announcement issued on Sunday said the draft plan would be released at 1 p.m.... →

South Africa looks to Africa and China ties as global trade fences go up

1st November 2024 South Africa's trade minister said his country is pursuing more robust trade and investment ties within the continent and with China - its biggest trade partner - as the global trade environment becomes increasingly fraught. Parks Tau said that while he has had extensive and positive engagements... →

Abandoned copper mines embraced as fast track to boost output

1st November 2024 In the race to secure copper for the clean energy transition and artificial intelligence applications, a range of companies are firing up abandoned assets once seen as financial liabilities to fast-track significant volumes of supply. The call for copper is poised to surge in coming years due to... →

The Minto mine is among the first mines in Canadian history to be bought by an Indigenous group.

Argentina Lithium wins local authority approval to kick off exploration push

1st November 2024 Local mining officials in northwest Argentina have approved a two-year permit for Argentina Lithium & Energy to kick off exploration efforts in the Paso de Sico concession, the company said on Thursday. Argentina is pushing to accelerate investments in lithium, the key battery metal, which is... →

Environmentalists sue over US approval of ioneer's Nevada lithium mine

1st November 2024 Environmental and Indigenous groups on Thursday filed a lawsuit challenging the US Interior Department's approval of ioneer's Rhyolite Ridge lithium mine in Nevada, the first domestic source of the battery metal to be permitted by Democratic President Joe Biden's administration. In a lawsuit... →

Sumitomo resumes production at Madagascar's nickel project

31st October 2024 Japanese trading house Sumitomo Corp said on Thursday it was slowly resuming production at the Ambatovy nickel and cobalt project in Madagascar after last month's pipeline issue and is reviewing future output volumes. Sumitomo has been struggling to stabilise production and improve profitability... →

Copper output from Chile's Codelco down nearly 5% this year, but recovery expected

31st October 2024 Chile's State-owned miner Codelco reported 918 000 metric tons of its own copper output from January through September, down 4.9% from the first nine months of last year, a filing to the country's financial regulator showed on Wednesday. The miner's copper production during the third quarter was... →

Canadian Natural Resources posts Q3 profit drop on lower crude prices

31st October 2024 Canadian Natural Resources posted a drop in third-quarter profit on Thursday, as the energy producer took a hit from a decline in production and lower crude prices. Global oil prices dropped during July-September quarter, hurt by sluggish demand from top crude importer China and oversupply... →

UBS expects copper price to average $10 500/t in 2025

31st October 2024 UBS said on Thursday that increasingly tighter supplies of copper in the coming six to 12 months could lead to a deficit of more than 200 000 t in 2025, as demand grows for the metal key to energy transition. Copper prices on the London Metal Exchange (LME) are forecast to average $10 500 and... →

South Africa seeks billions in climate funds as it keeps coal plants open

31st October 2024 South Africa pledged to slash emissions across its fleet of coal-fired power plants in a bid to secure $2.6-billion in climate finance. That’s despite seeking to alter the terms of a 2022 agreement by delaying the outright closure of three of the facilities. The plan, which involves the reduction... →

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