South Africa lures BYD with critical minerals, car output skills

Talks are progressing between BYD Co. and South Africa over a possible investment by the Chinese electric vehicle manufacturer, a top government official said, although no specific time frame for... 

Germany ready to help fund R390bn South African grid revamp

Germany is willing to help fund the R390-billion ($22-billion) that South Africa said it needs to incorporate more solar and wind power into the national grid and ensure its energy security. The... 

Aramco, Trafigura said to compete for Shell South Africa assets

Saudi Aramco, Abu Dhabi National Oil Co and commodities trader Trafigura are among suitors competing to buy Shell’s service stations in South Africa, according to people familiar with the matter.... 

China’s steel crisis drives iron-ore to worst week since March

Iron-ore steadied to remain on track for its worst week since March, with few signs of a recovery for China’s beleaguered steel market. “There is no significant improvement in demand for steel... 

Yukon gold mine disaster sparks fears of soaring taxpayer bill

The sudden collapse of Victoria Gold's Eagle Mine — and with it, the company — is part of a long and ugly history in northern Canada. To this day, Canada’s federal government is still cleaning up... 

US agency to join $225m investment in African fibre firm

A US development agency will be one of the main investors as African fibre company Liquid Telecommunication Holdings Ltd. seeks to raise $225 million in equity by the end of the year, according to... 

Chinese lithium producers embrace hedging to manage volatility

Chinese lithium processors are ratcheting up hedging to offset wild swings in the battery metal, a sign that local futures launched around a year ago are gaining traction. Several companies have... 

Indonesia sees nickel holding near current level on new plants

Indonesia’s government sees nickel prices stabilizing near current levels in the future, as new plants in the world’s biggest producer offset rising demand and keep the market well supplied.... 

South Africa rail, power revamp hinges on ending cable theft

The recovery of South Africa’s two biggest State-owned companies — beset by years of corruption and theft — relies on one common component: protecting thousands of miles of cables from theft and... 

South Africa targets China as key market for its farm produce

South Africa new 10-party coalition government aims to increase agricultural exports to China, part of a drive to forge closer ties with the Asian nation, fire up its economy and tackle a 34%... 

Iron-ore slides closer to $90 with China’s steel demand at risk

Iron-ore edged closer to its lowest since 2022 as the steelmaking material extended a selloff on fears for China’s crisis-wracked steel industry. Futures in Singapore fell 1.5% to $92.20 a ton by... 

China signs deal to revamp decades-old Southern African railway

China signed an agreement Wednesday to revamp a railway that will help landlocked Zambia, Africa’s second-largest copper producer, export the metal through Tanzania. The heads of state of the three... 

Trafigura struck $400m cash-for-iron-ore deal with MinRes

Trafigura Group has struck a $400-million prepayment deal for iron ore with Mineral Resources, as the Australian miner focuses on preserving cash amid a downturn in its two main commodities. The... 

Codelco bids $500m for stake in key Chilean copper mine

Chile’s Codelco, seeking to retain the title of world’s top copper supplier, made a $500-million offer to buy a stake in a mine run by Teck Resources, people with knowledge of the matter said. The... 

Vedanta to pay $932m in dividend to help parent cut debt

Indian tycoon Anil Agarwal’s Vedanta approved a third tranche of dividend payout, its latest effort to improve the financial position of its indebted London-based mining parent. The Mumbai-based... 

South Africa asks banks, insurers for consumer education plans

A top South Africa regulator is planning to require financial institutions to unveil their plans for boosting spending on customer education as it seeks to improve the lives of consumers in a... 

Germany seeks clarity on South Africa’s coal-closure slowdown

Germany’s climate envoy said her country is seeking clarity on South Africa’s plans to slow down the closure of its coal-fired power plants and alter the terms of a landmark climate-finance pact.... 

Coal generates less than half of Australian power for first time

The high winds that have been lashing southeastern Australia over the past few days have pushed coal-fired power below 50% of the country’s power mix for the first time ever. The fossil fuel... 

Tianqi Lithium swings to loss on battery metal’s price plunge

A major Chinese lithium producer swung to its first half-year loss since 2020, hit by the battery material’s massive price slump. Tianqi Lithium Corp. posted a net loss of 5.21-billion yuan... 

Sustained low CPI may spur South Africa rate cuts, Kganyago says

South Africa needs to sustain a low inflation rate to justify a change in the central bank’s monetary policy stance, Governor Lesetja Kganyago said. Consumer-price growth was 4.6% in July, the... 

Will gold’s tailwinds be enough to overcome September curse?

Gold investors returning from their summer holidays will be eager to see whether the precious metal can sustain its record-breaking rally, or if it will succumb to the curse of September. Bullion... 

Rio, BYD among prospective Enami lithium partners in Chile

Rio Tinto Group and BYD were selected among prospective partners to develop lithium assets in Chile as part of efforts to tap more of the world’s biggest reserves of the battery metal despite... 

Paladin’s takeover of Fission yet to win shareholders’ support

Paladin Energy’s takeover of fellow uranium producer Fission Uranium is in doubt, as it has so far fallen short of winning enough support from shareholders to seal the deal. In July, Paladin... 

Zambia plans State firm to own 30% of critical minerals mines

Zambia plans to establish an investment company that will control at least 30% of critical minerals production from future mines. Mines Minister Paul Kabuswe unveiled a strategy on Thursday that he... 

Lithium bust spurs Ganfeng to delay project capex as losses hit

Battery-material giant Ganfeng Lithium Group said it would delay spending on projects that do not generate “significant” near-term returns after posting a first-half loss, as the industry faces a... 

Lithium startups bet on high demand in battery-powered future

As the world leans into electrification, it will need more lithium. A key ingredient in the batteries that power everything from electric vehicles to cell phones, demand is projected to accelerate... 

Iron-ore’s ‘irrational’ rally past $100 triggers warning

Iron-ore has jumped by about 10% in 10 days to breach $100 a ton, prompting the official journal of China’s metals industry to pen a long article on why the gains are overdone. The steelmaking... 

US sees bipartisan backing for Africa critical minerals projects

A senior US State Department official reassured African governments that an initiative to help counter China’s influence through developing infrastructure on the continent will continue even after... 

Sumitomo files debt overhaul plan for Madagascar nickel mine

Sumitomo Corp has filed a debt restructuring plan to a UK court for its Ambatovy nickel and cobalt project, in Madagascar. The plan would allow it to address plant equipment malfunctions and ensure... 

Mining billionaire who banned work from home targets coffee runs

Staff at billionaire Chris Ellison’s mining company have already been banned from working from home. Stepping outside for a coffee could well be the next endangered perk. “I want to hold them... 

China’s steel slump set to worsen as heavyweights flag concerns

China’s steel-industry slowdown looks set to deepen, with BHP Group, the world’s biggest miner, and China Baowu Group, the top iron-ore buyer, flagging concerns as demand fades after decades of... 

Jindal, Zimbabwe in talks for $800m revamp of Hwange power plant

Zimbabwe’s State-owned power utility is in talks with Jindal Steel & Power over an $800-million upgrade of six units at its Hwange facility as it seeks to reduce blackouts. The plant is the... 

Boeing delays force top Africa carrier Ethiopian to lease planes

Boeing Co’s delays in fulfilling orders has forced Africa’s biggest carrier, Ethiopian Airlines, to lease aircraft to stay on track with its expansion. The Addis Ababa-based company has waited... 

First Quantum seeks damages for copper trapped at Panama mine

First Quantum Minerals is seeking compensation from Panama for a stockpile of semi-processed copper ore stranded at the company’s flagship mine as part of wider arbitration over the shuttered... 

BYD says fate of lithium project is in hands of Chile government

BYD said the timing of its lithium project in Chile remains up in the air as the Chinese electric vehicle juggernaut continues to negotiate with authorities in the South American nation. In April... 

Zijin to miss lithium output target and control pace of projects

Zijin Mining Group, China’s most valuable miner and an aspiring lithium giant, said it will miss its production guidance for the battery material this year as prices continue to languish. Zijin’s... 

BHP’s profit rises 2% as concerns on China demand increase

BHP Group, the world’s biggest miner, reported full-year profit edged up 2%, in line with analyst forecasts, even as China’s property market continued to weigh on its economy and demand for... 

Copper supply risks ease as miners do deals in biggest supplier

Chile’s copper-mining industry is emerging from an intense period of wage negotiations, signaling a diminished risk of further disruptions in a country that accounts for a quarter of supply. Over... 

Gold bulls celebrate as Jackson Hole reinforces bets on rally

Gold’s record-setting rally above $2 500 an ounce looks to have further to run as the Federal Reserve prepares to chop rates, traditional drivers such as lower yields return, and Western investors... 

World’s top cobalt producer expects supply pressures to ease

China’s CMOC Group, the world’s biggest cobalt producer, expects supply pressures to start easing in the second half of this year. Cobalt — used in batteries and alloys — has been in the doldrums...