Godongwana rebuffs Transnet debt-relief demand

Finance Minister Enoch Godongwana vowed to keep showing “tough love” toward the nation’s ailing State-owned enterprises, rebuffing calls for a bailout of Transnet. The African National Congress... 

Shell, Thebe near $1bn South Africa oil asset sales pact

Shell and its South African partner are close to ending a valuation dispute, paving the way for the sale of the oil giant’s local downstream assets for as much as $1-billion, according to people... 

Navajo Tribe agrees to allow uranium shipments, ending six-month standoff

Energy Fuels reached an agreement with the Navajo Nation to resume transport of uranium ore on the nation’s territory after a six-month standoff that halted production at the company’s Arizona... 

Duduzile Zuma-Sambudla to be charged with inciting terrorism

Former South African President Jacob Zuma’s daughter will face charges related to anti-government riots in the country four years ago in which 354 people died. Duduzile Zuma-Sambudla, a lawmaker... 

Botswana’s leader says diamond deal reached with De Beers

Botswana’s President Duma Boko, who swept to power in October elections, said his government has reached a diamond extraction and sales agreement with De Beers that will bring certainty to the... 

Liberia anticipates new minerals discovery will draw $3bn

Liberia expects to attract $3-billion in investment after the discovery of new minerals, President Joseph Boakai said. Studies conducted over five decades and funded by the Chinese show the iron... 

DeepSeek reveals how badly energy industry needs AI for growth

Pipeline networks and nuclear startups. Texas landowners and fuel-cell makers. In one brutal blow, DeepSeek has revealed just how many energy-related businesses in the US have been banking on an... 

World Bank’s Banga seeks $85bn to leverage Africa’s youth

World Bank president Ajay Banga said boosting access to electricity is the key to unlocking the demographic dividend in the world’s youngest continent. Banga, who spoke in an interview at the... 

Copper extends losses after Trump threatens tariffs on metals

Copper declined after US President Donald Trump said he planned to impose import tariffs on the metal, as well as aluminum and steel, raising fears of trade wars and spurring further gains in the... 

Vale shares shed $17bn as iron-ore slump foils turnaround

A weaker China economy and battered iron ore prices have helped drive down Vale’s stock, making investors wary of uncertainties plaguing one of the world’s top suppliers of the steelmaking... 

Alphamin slumps after rebels take Goma

Alphamin Resources shares fell the most in nine years after Rwanda-backed rebels overran the eastern Congolese city of Goma, the capital of North Kivu province where the company’s tin mines are... 

India coal giant’s profit drops amid softening demand

State-miner Coal India Limited reported a 17% decline in third-quarter profit, after a slowing economy resulted in a moderate consumption growth for the fuel that helps produce nearly... 

Parks Tau says no new tax planned for black-owned firms fund

South Africa is still discussing whether to set up a new fund to promote Black-owned businesses, and suggestions that new taxes will be imposed to capitalise it are unfounded, the nation’s trade... 

ANC wants National Treasury to rescue Transnet

South Africa’s biggest political party will ask the National Treasury to consider a one-off debt-relief package for state-owned rail and ports operator Transnet before next month’s budget. Transnet... 

Rate chokehold on African economies is set to loosen slowly

Over the course of the next month, African nations representing almost three-quarters of the continent’s gross domestic product are set to stake out different approaches to interest rates, as they... 

Gold tracks for weekly gain as tariff threats stoke haven demand

Gold held near the highest since October as traders weighed President Donald Trump’s latest tariff threat against Europe, along with his vow to push for more interest-rate cuts. Bullion was... 

Trump moves likely inflationary for South Africa, FirstRand CEO says

Tariffs proposed by US President Donald Trump will likely have an inflationary impact on South Africa, according to the chief executive officer of one of the country’s largest banks. Trump’s moves... 

South African coal, metal exporters to spend billions fixing rail

South African coal and iron-ore exporters aim to sign agreements with state-owned logistics company Transnet next month that could pave the way for them to spend billions of rand to help fix... 

Trump’s coal comments to Davos audience boost US miners

US coal producers’ shares climbed after President Donald Trump promoted the fuel as a power source during a video address Thursday to the World Economic Forum in Davos, Switzerland. Peabody... 

Sub-Saharan Africa economies well placed for 2025, says Moody’s Ratings

Sub-Saharan Africa’s economic growth is expected to improve to an average 4.2% this year from an estimated 3.8% in 2024, boosted by investments in energy and infrastructure and an expanded services... 

Infrastructure reform key to lift South Africa’s growth, says BER

South Africa must invest R200-billion to revive its frayed railways, half that amount again to upgrade water infrastructure, and tackle bottlenecks in both electricity and governance to achieve an... 

One by one, world leaders in Davos fall in line in Trump era

He’s not showing up in person, and his video address will come as the World Economic Forum is already winding down. But Donald Trump is still what everyone wants to talk about in Davos. Fans like... 

Alcoa sees higher aluminum shipments in 2025 despite looming tariff threats

Alcoa, the largest US aluminium producer, expects higher annual shipments of the lightweight metal in 2025 due to rising demand for the material used in everything from automobiles to window... 

World’s biggest cobalt miner sees 2025 output approaching record

The world’s biggest cobalt miner, which churned out a record amount of the battery metal last year, is targeting similar levels of production for 2025 following a ramp-up at two African mines.... 

Bolivia steps up lithium dealmaking despite growing opposition

Bolivia is stepping up efforts to tap the world’s biggest lithium deposits, readying deals with new investors to build processing plants despite low prices and growing opposition from lawmakers and... 

Steel mogul Mittal, South African ministers meet on mill closures

Indian steelmaking tycoon Lakshmi Mittal met with South African ministers in Davos this week as the country seeks to head off the planned closure of steel mills that are crucial to the local... 

China’s Zijin vies with Glencore after record year for profits

Zijin Mining Group racked up record annual profit after a growth burst that made the Chinese firm as big as global commodities giant Glencore, although it has softened its output targets for this... 

South Africa warns fruit farmers against moving plants amid bud rot discovery

Officials in South Africa, the world’s biggest exporter of citrus after Spain, discovered bud rot in commercial papaya orchards in two provinces and warned farmers to exercise caution when moving... 

Sasol plots new route to emission goal after refocusing on coal

Sasol CEO Simon Baloyi is seeking a new path for South Africa’s second-largest polluter to reach its emissions target after doubling down on coal to run its fuel and chemicals production. The... 

Iron-ore and other metals drop after Trump’s China tariff threat

Iron-ore and most base metals fell after US President Donald Trump said that he could hit China with 10% tariffs on all imports, suggesting February 1 as the possible start date. Futures of the... 

Saudi-Barrick Gold deal in Pakistan held up on terms

Pakistan’s deal with Saudi Arabia for the sale of a stake in the copper and gold mining project controlled by Barrick Gold is still in the process of negotiating key details, including where the... 

Barrick considers sale of stake in Chilean copper mine

Barrick Gold is looking to sell its stake in a relatively small Chilean copper mine, as the company focuses on bigger and more profitable operations elsewhere, according to people with knowledge of... 

South Africa’s Kganyago warns US policies may slow disinflation

South African central bank Governor Lesetja Kganyago warned that US protectionist policies may derail future interest-rate cuts by central banks if they turn out to be inflationary, though there... 

Steel cuts threaten South Africa’s $257bn building drive

Billionaire-backed ArcelorMittal South Africa’s (AMSA's) plans to shut down a century-old steel mill in South Africa are holding President Cyril Ramaphosa’s dream of fostering a $257-billion... 

Gold holds gain as reduced threat of US trade war hurts dollar

Gold held an advance as President Donald Trump held off from imposing sweeping trade tariffs against China and other nations on his first day in office, which hurt the US dollar. Bullion traded... 

Rio Tinto and Glencore spoke for months about deal that was once taboo

When Glencore proposed a combination with Rio Tinto Group a decade ago, the larger company turned it down after just a few days. News this week that the two spent several months in negotiations in... 

Sasol plans reviving chemical unit and explore potential IPO

Sasol is looking to revive its international chemical business, including a sprawling US complex, to boost earnings and open up an option to potentially list it, according to the company’s chief... 

Canada wants G7 talks on metals pricing to counter China’s sway

Canada wants its allies to explore a pricing floor for critical minerals to address what it views as market interference from China, the dominant supplier of metals key to the energy transition.... 

Copper in longest winning streak since 2017 on China demand hopes

Copper headed for an eighth day of gains, its longest winning streak since 2017, as fresh economic data from China brightened the demand outlook in the top metals-consuming nation. The industrial... 

Rio Tinto, Glencore discuss mining's biggest-ever potential merger

Rio Tinto Group and Glencore have held early stage talks about combining their businesses to create a behemoth to rival longstanding industry titan BHP Group. The discussions took place as recently...