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BHP turns to mediation as Chile miners seek share of copper boom
BHP Group is heading into mediation with union leaders in Chile in a bid to avoid a strike as this year’s surge in copper prices inflates the bottom lines of producers and expectations of their...
Chile lithium project attracting plenty of interest, Enami says
Chilean State mining firm Enami says it’s getting plenty of interest from prospective partners in a lithium project as part of the government’s efforts to tap more of the world’s biggest reserves....
Copper falls through $10 000 as exchange inventories keep rising
Copper fell below $10 000/t as a sharp rise in global inventories prompts traders to zero in on weak conditions in the spot market. Stockpiles on the Shanghai Futures Exchange have climbed to the...
Australian rare earths miner hit by cybersecurity breach
Australian rare earths firm Northern Minerals said some of its data had been released onto the “dark web” months after the firm detected a breach of its cybersecurity protections. “The exfiltrated...
Maersk sees deeper impact to world trade from Red Sea disruption
AP Moller-Maersk, a bellwether for global trade, said the world’s supply lines are more impacted than previously expected by the ripple effects coming from the congestion in the Red Sea. The...
BHP faces a test of patience after $49bn Anglo bid falters
Days after BHP Group failed to secure the $49-billion takeover of smaller rival Anglo American, investors have one message for CEO Mike Henry — keep your cool. BHP argues it showed restraint in...
De Beers ditches man-made diamonds as it looks beyond Anglo
De Beers will ditch a controversial experiment to sell lab grown diamond jewellery, ending a six-year program that broke one of its oldest taboos. While the company long held the technology to make...
Russia said to seek takeover of France’s uranium assets in Niger
Russia is seeking to take over uranium assets in Niger held by a State-controlled French company, according to people informed about the matter, in a further challenge to Western interests in...
Iron-ore tumbles to lowest in six weeks on China demand concerns
Iron-ore dropped to the lowest level in more than six weeks on worries over the outlook for Chinese demand, which has been hammered by the protracted property crisis. China’s housing slump is now...
IXM co-head of refined metals Sethaputra is leaving trader
IXM’s co-head of refined-metals trading is leaving the company, the latest in a series of personnel changes at the trading house owned by Chinese miner CMOC. Adhitya Sethaputra is departing the...
China’s CNGR looks to snap up more lithium projects in Argentina
CNGR Advanced Material, a Chinese battery-component maker and Tesla supplier, is looking to buy major stakes in Argentina brine deposits to extend its foray into the lithium-rich region as it...
South Africa’s post-election wrangling leaves investors in limbo
Investors braced for further upheaval in South Africa’s financial markets in the wake of last week’s elections that produced no outright winner, with the outcome of ongoing coalition talks...
The home of Malbec wine makes a play for copper in Argentina mining revival
Argentina’s Mendoza province, known for Malbec vineyards that draw tourists from across the world, is moving to spur exploration of its copper deposits long shunned by prospectors due to...
Hope and angst grip South African markets as coalition era dawns
Election results from South Africa have left investors swinging between anxiety over the different permuations that coalition may take and lingering hopes that whatever it is will result in a...
Chile hopes SQM-Codelco deal to proceed as planned, Finance Minister says
Chile’s government indicated that SQM and Codelco will proceed with the signing of a binding lithium partnership by Friday’s self-imposed deadline even as the deal faces mounting headwinds. “We...
US tariffs on minerals leave out markets dominated by China
President Joe Biden just unveiled sweeping tariffs on a range of Chinese imports, including more than two dozen industrial raw materials. But the administration is being careful to avoid the...
SARB holds rates in shadow of election
The South African Reserve Bank (SARB) left borrowing costs unchanged, delivering the widely expected verdict one day after the nation held pivotal elections. The monetary policy committee kept its...
Aluminium hits two-year high as China capacity limits help rally
Aluminum extended gains to a two-year high after China, the biggest producer, tightened capacity controls across an array of metals to meet emission-cutting goals. The light metal used in...
Billions in African gold smuggled to UAE yearly, SwissAid says
Billions of dollars of gold is smuggled out of Africa every year, with the vast majority exported to the United Arab Emirates for processing, according to a report by SwissAid. Using data on...
South Africa to stay course on rates amid election noise
South Africa’s central bank is set to leave interest rates unchanged, staying the course in the inflation fight amid political uncertainty one day after the country’s tightest election in 30 years....
Glencore to consult investors on coal spinoff after Teck deal
Glencore will start consulting with shareholders on the future of its coal business as soon as its deal to buy Teck Resources’ mines closes later this year. Crucially, Glencore said that should...
China’s silver imports set to jump as solar demand lifts prices
Chinese silver imports could surge in coming weeks, as traders take advantage of a jump in demand that’s taken prices well above the international market. Silver’s in a sweet spot because of its...
Mongolia defends plan to tap mining riches for new sovereign wealth fund
Mongolia’s prime minister defended changes to the country’s mining laws after foreign investors raised concerns they could deter investment in its large reserves of critical minerals, including...
Europe’s biggest pension fund sells €10bn in fossil fuels
Europe’s biggest pension fund, Stichting Pensioenfonds ABP, has exited all liquid assets in oil, gas and coal worth about €10-billion, in an effort to be greener. The last shares and bonds owned...
EU, Australia sign critical minerals pact to diversify supply chains
Australia and the European Union have struck an agreement to boost cooperation and investment in critical minerals, part of a drive by Western nations to loosen China’s grip on supply chains of...
CEF's Sapref refinery purchase raises clean-up concern
South Africa’s purchase of the nation’s largest refinery from Shell and BP for a symbolic R1 will transfer the environmental liability of the site to the government, according to a local advocacy...
JPMorgan says BHP plan risks $4.3bn South Africa outflow
A successful takeover of Anglo American under the arrangements BHP Group has offered could lead to outflows of $4.3-billion from South Africa, according to a JPMorgan Chase & Co. analysis. Such an...
China defies global copper squeeze with near-record production
The global copper market is gripped by fears of a shortage, which has propelled prices to record levels and sparked a $49-billion takeover battle. But in China, the world’s biggest producer and...
DBSA is working on transmission auction office
The Development Bank of Southern Africa (DBSA) is negotiating with government ministries to establish an office that will manage auctions of transmission projects, a senior official at the...
Adnoc, Aramco said to mull bids for Shell South Africa assets
Abu Dhabi National Oil and Saudi Arabia’s state oil producer Aramco are among companies weighing bids for Shell’s downstream assets in South Africa, according to people familiar with the matter....
Crime, corruption keep South Africa’s S&P rating in check
S&P Global Ratings said it is closely monitoring the outcome of South Africa’s elections next week and subsequent government policies to address issues from crime to energy supply that have...
Large Anglo shareholders are backing miner’s stance on BHP talks
Several of Anglo American’s big shareholders have said they support the company’s efforts to persuade BHP Group to change the structure of its takeover proposal or compensate for the risks it...
Pakistan coal miners face expansion issue as China stops funding
Chinese and other major lenders are increasingly reluctant to invest in Pakistan’s expansion of coal mines, according to the head of a local producer. “The real challenge for us is financing,”...
Zimbabwe state miner says lithium assets attract investors
Zimbabwe’s state-owned miner Kuvimba Resources said its lithium assets are attracting potential investors from both China and other countries. Kuvimba has identified a lithium ore resource of 38...
Troubled Peru copper mine starts expansion work in supply boost
China’s MMG is hopeful it can start digging copper from a new pit at its giant Las Bambas project in Peru by the end of this year, bringing some much-needed extra supply to a tightening global...
Eraring coal plant closure delayed by two years
Origin Energy will delay the closure of Australia’s largest coal-fired power station amid concerns renewable energy isn’t being added fast enough to keep pace with plans to quit fossil fuels. The...
Copper frenzy draws mining giants to Argentina after Milei’s reforms
Global mining heavyweights including Lundin Mining, Glencore and First Quantum Minerals are piling into Argentina as a new government intent on luring foreign investment propels the companies...
BHP has a week to convince Anglo its South African plan can work
BHP Group just won an extra week to convince Anglo American on its $49-billion takeover plan. But the world’s biggest miner still must resolve the deal’s most intractable obstacle: What to do about...
Fortescue excluded from world’s biggest hydropower plant development
A company owned by Australian mining billionaire Andrew Forrest will no longer develop the world’s biggest hydropower project in Democratic Republic of Congo, according to President Felix...
Falling EV sales are upending banker climate strategies
Electric vehicles (EVs) have swiftly gone from a rare bright spot in the fight against climate change to a cause for concern. A slowdown in EV adoption has potentially huge implications for the...
South Africa refiles work-permit changes to create nomad visa
South Africa’s Department of Home Affairs refiled long-awaited changes to its work-permit regime to allow for the creation of a so-called nomad visa for remote workers. The May 20 gazetting of the...
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