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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.

US backs Australian lithium, rare earths projects for up to $786m

25th September 2024 The United States has backed an Australian lithium and a rare earths project with up to $786-million in debt funding as Western countries seek to build supply chains for critical minerals. Australia's American Rare Earths said on Tuesday it had received a letter of interest for a debt funding... →

World leaders call for investment in clean energy, developing nations seek help

25th September 2024 World leaders on Tuesday called for far more investment in renewable energy to tackle climate change, with developing nations saying they need financial support to make the transition. Speaking at a Global Renewables Summit, Kenyan President William Ruto made the case for investing in renewables... →

Investors rush into Australian miners on China stimulus boost

25th September 2024 The Australian resources sector surged more than 3% on Wednesday as investors piled their money into beaten-down mining stocks after China unveiled a bumper stimulus to pull the world's second-biggest economy out of a deflationary slump. The mining sub-index has rallied 6% over the past two... →

Most banks expect gold's bull run to persist into 2025

25th September 2024 Major banks expect gold to extend its record-breaking price rally into 2025 because of a revival in large inflows to exchange-traded funds (ETFs) and expectations of additional interest rate cuts from prominent central banks around the world, including the USFederal Reserve. "Strong physical... →

Iron-ore soars on China stimulus, lower global supply

25th September 2024 Iron-ore futures prices surged on Wednesday, as a fresh batch of policy easing measures from top consumer China lifted market sentiment, while lower global supply also lent support. The most-traded January iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 ended morning trade... →

Global plan for early ditch of coal power hits Indonesia hurdle

25th September 2024 G7-backed push to close coal power plants in emerging markets is facing further delays after a July deadline passed without a deal on the early closure of an Indonesian power plant that would be the first to shut under the initiative. The push against coal comes under the Just Energy Transition... →

Fortescue signs $2.8bn green equipment partnership with Liebherr

25th September 2024 Fortescue said on Wednesday it has signed a $2.8-billion partnership with German-Swiss equipment manufacturer Liebherr to create one of the world's largest zero-emission mining fleets. The two companies had initially signed the deal to develop green technology-based trucks to haul iron ore out... →

Iron-ore hits over 1-year low on soft China demand prospects, firmer supply

23rd September 2024 Iron-ore futures fell on Monday to their lowest in more than a year, as investors weighed prospects of soft China demand amid an uneven economic recovery and stronger supply against fresh monetary easing measures by the world's top consumer. The most-traded January iron-ore contract on China's... →

Indonesia President inaugurates production of Freeport Indonesia's copper smelter

23rd September 2024 Indonesian President Joko Widodo on Monday oversaw the launch of copper cathode production at Freeport Indonesia's smelter in East Java province. The new $3.7-billion smelter has annual input capacity of 1.70-million metric tons of copper concentrate, which could produce around 900 000 T of... →

Nornickel opens EV battery R&D centre

23rd September 2024 Russia's Nornickel opened an R&D centre in St. Petersburg on Monday to study the use of nickel-containing cathode active materials in electric batteries, marking the first stage of the Russian firm's entry into battery production. The company, a major producer of high-grade nickel, said that the... →

Indian state coal producer looks to sell surplus coal at discount

23rd September 2024 Indian State government-run Odisha Coal and Power Limited (OCPL) is looking to sell surplus coal from its mine in eastern India at a discount, an auction document showed, indicating lower demand for the fuel in the country. OCPL will auction three-million tons of its surplus coal via online... →

South African rand cools after strong gains in data-filled week

20th September 2024 The South African rand softened in early trade on Friday, cooling off after strong gains in a week that saw interest rate cuts by both the US Federal Reserve and the South African Reserve Bank (SARB), plus a local inflation print. At 0715 GMT, the rand traded at 17.50 against the dollar, about... →

Gold Reserve drops out of US bidding for shares in Citgo parent

20th September 2024 Canadian miner Gold Reserve said on Thursday it has dropped out of a US court-organized bidding for shares in a parent of Venezuela-owned oil refiner Citgo Petroleum, citing court delays, and uncertainty over the sales process. The move came on the same day the court official overseeing the... →

Russian coal shipments to China fall 13% in August

20th September 2024 hina's coal imports from Russia fell 13% in August, customs data showed on Friday, as sanctions continued to weigh. Russia's coal shipments to China last month were 8.7-million metric tons, according to the General Administration of Customs, the lowest level since April. →

SARB joins easing club with 25 basis point rate cut

19th September 2024 South Africa's central bank cut its main interest rate for the first time in more than four years on Thursday, as it said it saw inflation staying below the midpoint of its target range as far out as 2026. The South African Reserve Bank (SARB) lowered the repo rate by 25 basis points to 8.00%, as... →

Photo by Bloomberg
Reserve Bank governor Lesetja Kganyago

Biden administration moves closer to approving ioneer's Nevada lithium mine

19th September 2024 The Biden administration on Thursday published a key environmental report for ioneer's Rhyolite Ridge lithium mine in Nevada, the last step needed before approving what would become one of the largest US sources of the electric vehicle battery metal. The move comes after a review process of more... →

Zimbabwe's new currency faces headwinds five months on

19th September 2024 Five months after its launch, Zimbabwe's new currency is under pressure as increased grain imports eat away at foreign reserves, putting at risk the government's plan to make it the only currency in the market by 2026. The gold-backed ZiG, which stands for Zimbabwe Gold, is the country's sixth... →

Iron-ore climbs on China stimulus hopes, softer stockpiles

19th September 2024 Prices of iron-ore futures gained ground on Thursday, as prospects of fresh Chinese monetary stimulus and lower inventories overshadowed concerns of the top consumer's weakening domestic demand. The most-traded January iron-ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 ended... →

Indonesia, Britain sign collaboration agreement on critical minerals

18th September 2024 Britain on Wednesday signed a memorandum of understanding to collaborate on critical minerals with Indonesia, home to some of the world's largest mineral resources, the UK's embassy in Jakarta said. The agreement will support policy dialogue, sharing of technical knowledge and expertise and... →

Development Minister Anneliese Dodds in Indonesia

BHP's Australian nickel stoppages spoil plans for LME alternative

18th September 2024 Plans for two new nickel trading platforms to challenge the London Metal Exchange (LME) have been blown off course by BHP's planned suspension of its plants in Western Australia, which has prevented it from committing to them. LME nickel was shunned by both consumers and producers after a March... →

BHP's Nickel West operations in Australia

Coal India eyeing Argentina, Chile for critical minerals, says official

18th September 2024 State-run Coal India is scouting for critical minerals in Argentina and is in talks with officials in Chile for lithium, India's federal mines secretary V. L. Kantha Rao said on Wednesday. India has been exploring ways to secure supplies of lithium, a critical raw material used to make electric... →

South African inflation falls more than expected, sets stage for rate cut

18th September 2024 South Africa's inflation rate fell more than expected last month to its lowest since April 2021, data showed on Wednesday, reinforcing expectations that the central bank will cut interest rates this week. Headline consumer inflation fell to 4.4% year-on-year from 4.6% in July, just below the 4.5%... →

Iron-ore posts steepest daily fall in nearly two years

18th September 2024 Iron-ore futures prices posted their biggest daily fall in nearly two years on Wednesday, weighed down by prospects of stronger global supply and weakening Chinese steel demand. The most-traded January iron-ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 4.12%... →

JPMorgan CEO Jamie Dimon to visit Africa in growth push

18th September 2024 JPMorgan Chase CEO Jamie Dimon plans to travel to Africa in mid-October in a push by the biggest U.S. lender to expand on the continent, four sources familiar with the matter told Reuters, his first trip there in seven years. Dimon is expected to visit Kenya, Nigeria, South Africa and Côte... →

Sibanye considers sourcing nickel for French plant from New Caledonia's Prony

17th September 2024 Sibanye-Stillwater said it is studying New Caledonia's Prony Resources as a potential source for nickel it needs to manufacture battery-grade material at its Sandouville plant in France. The Johannesburg-based precious metals producer is also looking to Indonesia as another potential source for... →

US probes uranium jump from China amid concerns over Russian import ban

17th September 2024 President Joe Biden's administration is probing a surge in imports of enriched uranium from China since late 2023 amid concerns the shipments are helping Moscow sidestep a US ban on imports of the power plant fuel from Russia, Reuters has learned. U.S. House lawmakers passed the ban on Russian... →

US President Joe Biden

S Africa consumer confidence recovers to pre-pandemic levels, survey shows

17th September 2024 South Africa's consumer confidence recovered further in the third quarter to its best since 2019, helped by improved willingness to spend and hopes of an interest rate cut in September, survey data released on Tuesday showed. The consumer confidence index, sponsored by First National Bank and... →

COP29 leaders unveil climate funding and energy storage goals

17th September 2024 Less than two months ahead of the COP29 United Nations Climate Summit, the Azerbaijani leadership laid out its plans on Tuesday for what it hoped to achieve, as countries continue to wrestle with how to raise ambitions for a new financing target. The main task for the November summit is for... →

Mukhtar Babayev

New Hope's annual profit drops on lower coal prices

17th September 2024 Australia's New Hope reported an annual profit on Tuesday that fell 56.2%, hurt by lower average realised prices of coal. The miner reported a full-year net profit attributable of A$475.9-million, compared with A$1.09-billion a year earlier. →

Goldman Sachs reiterates bullish view on gold prices amid Fed rate-cut hopes

17th September 2024 Goldman Sachs reiterated its optimistic outlook on gold prices on Monday, citing central bank demand and the imminent interest rate cut from the US Federal Reserve at its policy meeting this week. Gold prices rose to an all-time high at $2 589.6 an ounce on Monday, supported by a weaker dollar... →

New Hope eyes growth as it bids for Anglo American coal assets

17th September 2024 Australian coal miner New Hope has built up a war chest to fund its growth plans which could include the coal assets of Anglo American in Queensland if its bid is successful, CEO Rob Bishop said on Tuesday. The Brisbane-headquartered miner has profited from a spike in prices for energy coal over... →

Saudi Arabia's Ma'aden, Alba ink non-binding deal to form global aluminium powerhouse

17th September 2024 Saudi Arabian Mining Company (Ma'aden) said on Monday it has signed a non-binding agreement with Aluminium Bahrain (Alba) to pursue a potential business combination to create a global aluminium powerhouse. Ma'aden agreed to buy shares in Alba in exchange for the entire share capital of two of... →

First Quantum Minerals offers voluntary retirement to Cobre Panama workers, sources say

17th September 2024 Canadian miner First Quantum Minerals has opened a voluntary retirement scheme to workers at the Cobre Panama mine, two sources familiar with the matter said, as the company waits for a government decision on restarting the operation. The mine, one of the world's top sources of copper, was shut... →

Brazil confirms potential $18bn deal with miners involved in deadly dam disaster

17th September 2024 he Brazilian government confirmed on Monday it was in talks on a potential $18-billion payout from a trio of miners involved in a deadly 2015 dam collapse, saying the deal could also involve further repair work by the companies themselves. Earlier this month, Reuters reported that Brazilian... →

Bento Rodigues district was covered in mud after Samarco dam burst in Mariana November 2015

Goldman Sachs cuts Q4 iron-ore price forecast by $15/t on supply glut

16th September 2024 Goldman Sachs on Monday cut its iron-ore price forecast for the fourth quarter of 2024 by $15, to $85 per metric ton, citing market oversupply even though demand from top consumer China is stabilising. Dalian iron-ore futures gained last week as the prospect of Chinese stimulus and a recovery in... →

Brazil says it has nearly cleared gold miners from Amazon Yanomami reservation

16th September 2024 Brazil has almost squashed the illegal gold rush that led thousands of wildcat miners into the Yanomami reservation in the Amazon rainforest and caused a humanitarian crisis of disease and malnutrition, the man in charge of operations said. The Yanomami, South America's largest Indigenous group... →

Vale says routine check revealed cracks in dam, stability unchanged

16th September 2024 Brazilian miner Vale said on Saturday that it is conducting checks on a dam after a routine inspection identified surface cracks but noted that the structure’s stability conditions remain unchanged. In a securities filing, the company said the issue concerns the Forquilha III dam at the Fabrica... →

Alcoa to sell its 25.1% stake in Ma’aden joint venture for $1.1bn

16th September 2024 US aluminium maker Alcoa said on Sunday that it would sell a 25.1% stake in its Ma'aden joint venture to Saudi Arabian mining company Ma'aden for $1.1-billion. The transaction includes approximately 86-million shares of Ma’aden and $150-million in cash, Alcoa said in a statement, adding that it... →

Ghana anxious lithium price slump will derail maiden project

13th September 2024 Ghana is concerned that a slump in global lithium prices could halt its first mining project in the south-central town of Ewoyaa, the head of the country's mining sector regulator told Reuters. In October 2023, Ghana, a West African gold and cocoa producer, granted a 15-year lease to... →

South Africa says reform agenda in progress after Fitch affirms ratings

13th September 2024 South Africa's National Treasury said on Friday its plan to reduce expenditure and raise revenue, while implementing critical reforms, was in progress after credit rating agency Fitch affirmed its debt rating at "BB-" with a stable outlook. Fitch said that key drivers affecting its decision to... →

Gold bulls set sights on previously dismissed record $3 000/oz milestone

13th September 2024 Gold market bulls are locking in bullion prices surging to fresh records, with a milestone of $3 000 per ounce coming into focus, fired up by monetary easing by major central banks and a tight US presidential election race. Spot gold reached a historic high of $2 572.81 an ounce on Friday and is... →

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