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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.

Physical buyers win battle for copper market as funds retreat

19th August 2024 Investors fleeing the copper market are likely to be sidelined for many months, leaving the field clear for physical players who expect demand in top consumer China and elsewhere to deteriorate over coming months and weigh on prices. A fund buying frenzy, based on an expected shortage of copper... →

Finland's Metso says it has no plans for a Sandvik tie-up

19th August 2024 Finnish mining equipment maker Metso said on Monday it has no ongoing plans for a tie-up with the rival mining equipment business unit of Sweden's Sandvik. Swedish business daily Dagens Industri on Sunday reported that Metso shareholders were contemplating a merger of the company with the... →

Canada-wide freight rail stoppage looms this week as two firms issue lockout notices

19th August 2024 Canada's freight rail network could come to a grinding halt this week, inflicting a huge economic toll after the country's two largest railroad operators on Sunday issued lockout notices to the Teamsters union that represents nearly 10 000 workers. Failing last-minute deals, both Canadian... →

Union at BHP's Escondida copper mine in Chile signs new deal, ending risk of strike

19th August 2024 The union at Chile's Escondida copper mine, the world's largest, signed a deal on Sunday with BHP, ending a strike that could have threatened global supplies of the red metal. The three-year deal included changes in labour conditions such as "initiatives to optimize shift changes, increase... →

Woodside gets environmental go-ahead for Scarborough project; key green group backs down

19th August 2024 Woodside's $12.5-billion Scarborough gas project in Western Australia has all primary environmental approvals in place, the firm said on Monday, after a green group agreed to dismiss its challenge in a federal court. Shares of the energy company gained as much as 1.3% to A$26.45 during the day... →

BHP says strike ends at huge Escondida copper mine

16th August 2024 A three-day strike at BHP's massive Escondida copper mine in Chile was halted on Friday after management and a large union reached a deal, the miner said, easing concerns about a hit to global supplies of the metal. The union, which represents about 2 400 people, began striking on Tuesday at... →

Whitehaven Coal to cut 192 jobs at mines purchased from BHP

16th August 2024 Australia's Whitehaven will cut 192 jobs at the Daunia and Blackwater coking coal mines it took over from global miner BHP Group, its spokesperson told Reuters on Friday, adding to a slew of roles lost in the resources sector this year. Whitehaven had announced plans in October to buy out BHP's... →

Mpox in Africa prompts $500-million funding from Gavi for vaccines

16th August 2024 The global vaccine group Gavi has up to $500-million to spend on getting shots to countries affected by an escalating mpox outbreak in Africa, its chief executive Sania Nishtar told Reuters. Gavi helps countries with fewer resources buy and deploy vaccines, usually against childhood diseases... →

Proposal to ban openpit mining advances in Mexican Congress

16th August 2024 A committee in Mexico's lower house of Congress approved two constitutional reforms that would prohibit open-pit mining and fracking, as well as restrict the use of genetically modified corn. The proposals, passed on Wednesday, will be taken up for discussion by the full lower house after... →

Top potash producer Nutrien fears sales hit from potential Canada rail stoppage

15th August 2024 Nutrien, the world's largest potash producer, said on Thursday it was concerned that the impending Canada rail stoppage would hurt its ability to ship products. Canada's two main rail companies said last week they would lock out employees on August 22, if talks to negotiate a labour contract... →

Congo's South Kivu governor lifts mining suspension in province

15th August 2024 Democratic Republic of Congo has lifted a suspension of mining activities in the South Kivu province, with the exception of gold extraction, the region's governor said in a statement on Thursday. Gold, tin ore cassiterite and hi-tech mineral coltan from the eastern province are mostly mined by... →

China to limit antimony exports in latest critical mineral curbs

15th August 2024 China will impose export limits on antimony and related elements in the name of national security, its commerce ministry said on Thursday, Beijing's latest move to restrict shipments of critical minerals in which it is the dominant supplier. China, the world's largest producer of antimony, a... →

Türkiye's Tosyali to establish integrated iron and steel plant in Angola

15th August 2024 Turkish steelmaker Tosyali Holding said on Thursday that it will form a partnership with Angola's state oil company Sonangol to establish an integrated iron and steel plant. Tosyali's subsidiary in Angola will reactivate the iron-ore mines in the Kassinga region and establish a steel facility in... →

China's thermal power generation falls for third month in July despite record heat

15th August 2024 China's thermal power generation in July fell from a year earlier for a third month even though the country recorded its hottest month in recent history, sending power use rising, statistics bureau data showed on Thursday. China's thermal power generation last month fell 4.9% from a year ago to... →

Industry and shippers brace for Canada rail stoppage, fear 'catastrophe'

15th August 2024 North American industry groups and shippers are bracing for an unprecedented simultaneous stoppage at both of Canada's main railway companies that could inflict billions of dollars' worth of economic damage. Canada is the world's second-largest country by area and relies heavily on trains to... →

Striking BHP miners reject new talks as Escondida standoff hardens

15th August 2024 A striking union at BHP's huge Escondida copper mine in Chile has rejected a company request to pause its action and come back to the negotiation table, with workers digging in as they seek a larger slice of profits in contract talks. The union began a strike on Tuesday at Escondida, the world's... →

Indian miner Vedanta boosts stake sale in Hindustan Zinc to top $950m

14th August 2024 Indian miner Vedanta will sell a 3.3% stake worth more than $950-million in unit Hindustan Zinc, it said on Wednesday, bigger than the 2.6% stake it initially planned to hive off. Vedanta said it will sell 140-million Hindustan Zinc shares. That values the sale at 80.05-billion rupees (about... →

Saudi firm plans hydrogen-powered skyscraper in Egypt's new capital

14th August 2024 A Saudi-controlled real estate firm says it plans to break ground early next year in Egypt's new capital on a $1-billion, 50-storey office tower that aims to be the first of its kind to be powered by clean hydrogen. The sophisticated design and high price tag represent a bet by Magnom Properties,... →

Uranium Energy restarts uranium production at Wyoming

14th August 2024 Uranium Energy said on Tuesday it has restarted uranium production at its Christensen Ranch operations in Wyoming, with shipments expected in November or December. Uranium is the most widely used fuel for nuclear energy. With a global push for clean energy, nuclear generation could roughly... →

Germany, Italy import legally dubious Brazilian gold, study shows

14th August 2024 All Brazilian gold imports by Germany and 71% by Italy come from areas of the Amazon where illegal mining is rampant, a think thank said on Tuesday, calling for increased European scrutiny. All 1.3 t (2 866 lb) of gold that Germany imported from Brazil in 2023 came from the state of Amazonas, a... →

Photo by Bloomberg
The Amazon rainforest

BHP removes striking workers at huge Chile copper mine, output at risk

14th August 2024 Mining giant BHP said on Tuesday it had started removing workers on strike at its Escondida copper mine in Chile, deepening tensions at the site after a powerful union rejected the company's latest invitation for talks on pay. The strike at the world's largest copper mine was declared hours... →

The Escondida copper mine

Botswana aims to negotiate bigger stake in HB Antwerp diamond dealer

13th August 2024 Botswana intends to renegotiate its proposed purchase of a stake in Belgian gem dealer HB Antwerp to double the size of its shareholding at no extra cost following the downturn in the diamond market, the country's mines minister said on Tuesday. Botswana is the world's biggest diamond producer by... →

India to offer incentives for critical minerals extraction, govt source says

13th August 2024 India plans to provide funding for research institutes to give technical assistance to miners, according to a government source and a letter reviewed by Reuters, to try to develop a critical minerals industry. The funding illustrates the efforts India is making to get the critical mineral... →

Iron-ore takes fresh hit as concerns over global glut exact toll

13th August 2024 Iron-ore slumped — following its fourth weekly loss in five — on concerns that a slowdown in steelmaking at Chinese mills, combined with record shipments from Australia and Brazil, would lead to a glut. Futures dropped below $99 a ton in Singapore after shedding almost 3% last week. Chinese... →

Barrick open to being partner in Cobre Panama mine, CEO says

13th August 2024 Barrick Gold stands ready to be a partner in the Cobre Panama copper mine once the Panamanian government decides on the disputed asset's future, Mark Bristow, CEO of the Canadian gold and copper mining company, said on Monday. The mine, owned by First Quantum Minerals, has been under dispute... →

Barrick CEO Mark Bristow

Union at BHP's Escondida mine says company made 'illegal' offer amid negotiations

13th August 2024 The union representing workers at BHP's Escondida mine in Chile told its members on Monday that it would accuse the company of "anti-union practices" for making a contract offer outside of a government-mandated mediation process. The company and the powerful workers' union have been in a... →

Barrick Gold reports Q2 profit beat on higher output, prices

12th August 2024 Canada's Barrick Gold edged past Wall Street estimates for second-quarter profit on Monday, as the company benefited from higher prices and robust production. Barrick's US-listed shares were up 2.1% before the bell. →

Ethiopian Airlines signs deal for design of 'biggest airport in Africa'

12th August 2024 Ethiopia has signed an agreement for the design of a new four-runway airport that will be Africa's biggest when construction is completed in 2029, the head of state-owned Ethiopian Airlines said on Friday. Located near the town of Bishoftu, around 45 km from the capital Addis Ababa, the airport... →

South Africa battles to fund vital grid upgrade for green energy

12th August 2024 South Africa's plan to expand its power grid, now the biggest bottleneck to replacing coal with renewables, has hit a snag: finding investors to lend the necessary $21-billion to a near-bankrupt state monopoly. Since May's election brought a coalition government to power, there has been a policy... →

BHP, Rio Tinto, Qantas to invest $53m in Australian carbon credit fund

12th August 2024 BHP, Rio Tinto and Qantas will invest a total of A$80-million as early-stage investors in an Australian carbon credits fund that aims to invest in land reforestation projects, according to statements from the fund and the companies on Monday. The fund, managed by Silva Capital - a joint venture... →

Chinese mining firm files judicial review against Ottawa

12th August 2024 Jinteng Mining, a subsidiary of Chinese gold and copper company Zijin Mining Group, has sought a judicial review against Canada's decision regarding a Canadian company's sale of a gold mine in Peru, the Canadian Press reported on Sunday. Jinteng bought Pan American Silver's gold asset in Peru in... →

The judicial review was reportedly against Minister Francois-Philipe Champagane's order seeking a national security review of Jinteng's deal to buy Pan American Silver's assets in Peru.

Shell to invest in phase 2 of Surat gas project in Australia

12th August 2024 Shell plans to invest in the second phase of development at joint venture Arrow Energy's Surat gas project in Queensland, Australia, the global energy giant said on Monday. The second phase of development will include up to 450 production wells, new pipeline and road and infrastructure upgrades,... →

Australian court stays govt decision to not renew ERA lease for Jabiluka uranium deposit

12th August 2024 Australia's Federal Court has stayed a government decision to not renew Rio Tinto-owned Energy Resources of Australia's lease for a high-grade uranium deposit in the Northern Territory, the miner said on Friday. The proposed development of the Jabiluka uranium deposit in the Northern Territory,... →

China's July coal imports rise to seven-month high

7th August 2024 China's coal imports rose to a seven-month high in July, General Administration of Customs data showed on Wednesday, as traders took contracted cargoes to coincide with China's peak power demand season, when hot weather drives up air conditioning use. China imported 46.21-million metric tons of... →

Zambia's proposed mining law bad for investment, miners say

7th August 2024 Zambia's proposed minerals regulation law could deter investment and deliver a "fatal blow" to plans to raise yearly copper output to three-million tons, two mining bodies said on Wednesday. Zambia, Africa's second biggest copper producer, is proposing a Minerals Regulation Commission Bill that... →

South Africa moves to implement national health bill despite resistance

7th August 2024 South Africa is moving ahead with implementation of the National Health Insurance bill, President Cyril Ramaphosa said, despite strong opposition from within and outside government. The NHI aims to provide universal coverage through a major overhaul of South Africa's two-tier system. Ramaphosa... →

President Cyril Ramaphosa

Australia's lithium industry seen bearing brunt of supply cuts

7th August 2024 Arcadium Lithium on Wednesday joined a growing list of producers reviewing lithium operations in Australia amid a rout in prices for the battery raw material that is expected to result in more production cuts. The lithium market is reeling from rapid supply growth that has outpaced strong... →

Mount Cattlin in Western Australia

Shell, BP to pay operational costs to buyer of South Africa's Sapref refinery

6th August 2024 South African units of Shell and BP will pay around $15-million to State-run Central Energy Fund (CEF) for operational costs at Sapref refinery that the oil firms are selling to the government, a letter from Minister Gwede Mantashe to the finance ministry showed. The payments could help kickstart... →

India shelves plan for coking coal import consortium, sources say

6th August 2024 India has abandoned a plan to form a consortium of state-run companies for joint negotiations to import coking coal, a key raw material for steel, due to differences among mills over the grades they need, said two sources directly aware of the matter. India, the world's second-biggest crude... →

ERA sues Resources Minister after lease for Jabiluka uranium deposit not renewed

6th August 2024 Energy Resources of Australia (ERA) said on Tuesday it was suing Australia's Resources Minister and others after its lease for a high-grade uranium deposit was not renewed, saying it hadn't been given the opportunity to make its case. The proposed development of the Jabiluka uranium deposit in... →

Resources Minister Madeleine King

BHP requests state mediation with Escondida union in Chile

6th August 2024 Australian miner BHP has requested mediation by the Chilean government with the union representing workers at its Escondida mine, the company said on Monday, a move aimed at avoiding a potential strike at the world's largest copper project. BHP noted in a statement that the mine is operating... →

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