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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.

Tiger Brands to sell Baby Wellbeing business, excluding Purity

20th November 2024 South Africa's biggest food producer Tiger Brands said on Wednesday it will sell its Baby Wellbeing business for R605-million, but will exclude its Purity brand, which it described as a core asset. The Baby Wellbeing business was identified as no longer a "financial and strategic fit" after an... →

Chile lithium miner SQM reports net profit down 73% in Q3

20th November 2024 Chile's SQM, the world's second-largest lithium producer, reported a 73% drop in third-quarter net profit on Wednesday, as higher sales volumes failed to offset a sharp decline in average sales prices. The company posted a net profit of $131-million for the quarter, while revenue fell 41%... →

Chile's rare salt flat fish faces threat from lithium mining project

20th November 2024 At more than 3 700 m above sea level, the "karachi" swims happily in dense salt flat waters, but locals worry a future lithium project will endanger this extreme-environment fish. The Orestias ascotanensis is a small ray-finned fish that grows to just 7.5 cm, but has adapted to the Ascotan salt... →

South African inflation drops to lowest since June 2020

20th November 2024 South Africa's annual inflation rate slowed sharply to 2.8% in October, data showed on Wednesday, setting the stage for another interest rate cut by the central bank this week. Statistics South Africa said falling fuel prices were the primary driver of the slowdown in the headline rate from 3.8%... →

Canadian regulator orders halt to Sunshine Oilsands operations

20th November 2024 A Canadian regulator has ordered Sunshine Oilsands to suspend its operations, including wells, facilities and pipelines,in northern Alberta's oil sands regiondue to continuous non-compliance with environmental and public safety rules. The Nov. 14 order from the Alberta Energy Regulator (AER)... →

Peru copper output edges down 1% in September

20th November 2024 Peru's copper production fell 1.2% in September compared to the same month last year to settle at 232 423 metric tons, data from the ministry of energy and mines showed on Tuesday. Peru is one of the world's largest suppliers of the industrial metal, and copper is a key national industry that... →

South Africa will focus G20 presidency on inclusive growth, food security

20th November 2024 South Africa will use its G20 presidency to focus on advancing inclusive economic growth, food security and artificial intelligence, President Cyril Ramaphosa said on Tuesday at a summit of the Group of 20 (G20) major economies in Brazil. South Africa takes over the G20 presidency from Brazil at... →

President Cyril Ramaphosa

Australia's Global Lithium delays AGM on foreign interference concerns

20th November 2024 Global Lithium will push back its annual shareholder meeting to February to allow time for the Australian government to review a potential breach by a shareholder of foreign acquisition laws. Global Lithium notified the markets of the court's approval for it to delay the meeting by three months... →

South African pension withdrawals since reform up to R35.1bn

19th November 2024 South Africa's tax service said on Tuesday that pension withdrawals in the 11 weeks since a reform took effect allowing people to make partial withdrawals before retirement had risen to R49.6-billion. The South African Revenue Service said on October 11 that R21.4-billion had been paid out since... →

MTN exploring partnerships with satellite-internet providers

18th November 2024 Africa's biggest mobile operator MTN is exploring partnerships with low-Earth-orbit (LEO) satellite providers to bring internet connection to rural and remote customers in particular, Group CEO Ralph Mupita said on Monday. Satellite-internet has become an alternative connectivity solution across... →

Resolute Mining agrees to pay $160m to Mali as CEO, employees remain detained

18th November 2024 Australia's Resolute Mining said on Monday that it would pay $160-million to Mali's government to help resolve a tax dispute after the West African country detained its CEO Terence Holohan and two other employees this month. Resolute has made an initial payment of $80 million as part of the... →

Terence Holohan

Families gather at South African mine shaft where hundreds are feared underground

15th November 2024 Desperate family members of illegal miners believed to number in the hundreds waited outside a disused mine shaft in South Africa on Friday in the hope of their loved ones emerging from the hole in the ground. The miners are in a standoff with police, who have blocked their supplies of food and... →

South Africa's revised carbon tax to be harsher but with more offsets, Treasury says

15th November 2024 South Africa's revised carbon tax aims to balance the rival demands of climate activists and polluters by lowering tax-free allowances while letting companies make greater use of offsets, the Treasury's acting tax chief said on Friday. The changes, to come into effect in 2026, will help South... →

France's Orano warns of financial problems at Niger uranium plant Somair

15th November 2024 French nuclear fuels company Orano warned on Friday of a "deteriorating financial situation" at its Somair uranium plant in Niger, whose board it said had sought a temporary halt on expenditures related to mining and processing ore. Orano owns more than 60% of Somair, while Niger's state-owned... →

South African Reserve Bank to cut rates 25bps to 7.75% on Nov 21 – Reuters poll

15th November 2024 The South African Reserve Bank will cut its repo rate next week as slowing inflation continues to make way for a series of cuts through the middle of next year, spurring growth to almost 2%, a Reuters poll suggested on Friday. All but two of 22 economists surveyed in the past week said the South... →

Copper price could fall to $8 500 as Trump win boosts dollar, threatens demand

15th November 2024 Copper prices could fall towards $8 500 a metric ton within the next four months on expectations that demand will be hurt by potential trade disruptions when Donald Trump returns to the White House in January, copper industry participants said. Benchmark three-month copper on the London Metal... →

Trump's transition team aims to kill Biden EV tax credit

15th November 2024 President-elect Donald Trump's transition team is planning to kill the $7 500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an... →

Donald Trump

Australia eyes US climate policy shift for green energy boost

15th November 2024 Any move by the Trump administration to change US climate policy could benefit Australia's ambitions to attract greater investment to its critical minerals and green energy industry, Prime Minister Anthony Albanese said on Friday. Australia has rich deposits of copper, vanadium, cobalt and... →

Australian PM Anthony Albanese

Brazil court clears Vale, BHP and Samarco of criminal charges in 2015 dam collapse

15th November 2024 A Brazilian federal court ruled miners Vale, BHP Group and their joint venture Samarco are not criminally liable for the deadly 2015 Fundao tailings dam collapse, according to a statement from the court on Thursday. The dam collapse at an iron-ore mine owned by Samarco near the city of Mariana... →

Police in standoff with hundreds of illegal miners in disused shaft

14th November 2024 South African police were in a standoff on Thursday with hundreds of illegal miners believed to be underground in a disused shaft, a day after a cabinet minister said the government was trying to "smoke them out". Police have been trying for weeks to empty the abandoned gold mine in the North... →

Australia may lose A$69bn amid green steel rush, report says

14th November 2024 Top global iron-ore exporter Australia could lose as much as half its revenue from the sector if it fails to start producing green iron fast enough, as other countries start making steel using renewable energy, a think tank said on Friday. Australia risks losing around A$69-billion a year in... →

De Beers CEO sees talks on new Botswana diamond pact concluding soon

14th November 2024 The CE of global diamonds giant De Beers, Al Cook, said that his company expected negotiations with Botswana's government over a new diamond sales pact to conclude soon. "We see negotiations concluding in days and weeks, not months and years," Cook said after meeting Botswana's new President Duma... →

De Beers CEO Al Cook

Gold Fields may sell smaller mines to focus on new Canadian Osisko assets

14th November 2024 Gold Fields may look for buyers for its smaller mines in Ghana and Peru to focus on bigger operations and is hoping to make new mineral discoveries at both mines to enhance their appeal, CEO Mike Fraser said on Thursday. The Johannesburg-based gold miner is shifting focus to advancing its new... →

China's copper smelters to cut output next year on raw material shortage

14th November 2024 Chinese copper smelters are likely to further cut production, shut down or extend maintenance to cope with a severe shortage of raw material or concentrate supply next year, participants at a conference in Shanghai said on Wednesday. Global mine disruptions and smelters expanding capacity at a... →

Miner K+S quarterly earnings hit by lower potash prices

14th November 2024 German potash and salt miner K+S published its third quarter results on Thursday that beat revenue and core profit expectations but were weaker than a year ago following a fall in potash prices. The company reported earnings before interest, tax, depreciation and amortisation (EBITDA) of... →

BHP set to detail copper growth plans on Chile roadshow, analysts say

14th November 2024 BHP Group is likely to flesh out plans next week to spend at least $7-billion over the coming years to recover more metal from the world's biggest copper mine, Escondida in Chile, investors and analysts said on Thursday. The world's biggest listed miner will be hosting analysts and investors on... →

BHP's Spence mine

South Africa's ratings seen stuck in 'junk' despite investor optimism

14th November 2024 South Africa will be unable to shed its "junk" credit rating for years to come, credit analysts said, despite investor optimism over the economic trajectory since the formation of a coalition government this year. S&P Global is scheduled to review the sovereign rating of Africa's most... →

IMF urged to cash in on gold price to help poor countries hit by climate change

13th November 2024 The International Monetary Fund (IMF) should sell 4% of its gold to help offer debt relief to low-income countries devastated by climate-related catastrophes, a study said as climate financing dominates early talks at the COP29 summit. From the Caribbean to Africa, low-income countries have... →

Piedmont Lithium slashes more jobs under cost-cutting plan

13th November 2024 US miner Piedmont Lithium has nearly halved its total workforce after completing an additional 32% reduction in October as part of an ongoing cost-cutting plan, it said on Tuesday. The company said in February it had completed a 27% reduction in its workforce amid a supply glut in the lithium... →

Anglo American coal bidders down to three, say sources

13th November 2024 The final bidders for Anglo American's Australian coal assets are down to Yancoal Australia, Stanmore Resources and Peabody Energy Corp, three sources with knowledge of the matter told Reuters. The final bid submissions are due on Wednesday, said one of the sources, who asked to remain unidentified. →

Suncor Energy beats Q3 profit estimates on higher production, raises dividend

13th November 2024 Canada's Suncor Energy raised its quarterly dividend on Tuesday after the integrated oil and gas firm beat estimates for third-quarter profit, as it benefited from higher oil production and demand for refined products. Data from the US Energy Information Administration showed that the country's... →

Global CO2 emissions to hit record high in 2024, report says

13th November 2024 Global carbon dioxide emissions, including those from burning fossil fuels, are set to hit a record high this year, pulling the world further off course from averting more destructive climate extremes, scientists said on Wednesday. The Global Carbon Budget report, published during the UN's COP29... →

COP29 is being held in Azerbaijan this month

Higher silver supply to reduce global deficit by 4% in 2024

13th November 2024 The global silver deficit is expected to fall by 4% to 182 million ounces in 2024, with growth of 2% in total supply offsetting demand growth of 1%, the Silver Institute industry association said on Wednesday. Silver, used in jewellery, electronics, electric vehicles and solar panels as well as... →

Australia-listed Vulcan Energy gets $106m funding from German ministry

12th November 2024 Australia's Vulcan Energy Resources said on Tuesday it had received 100-million euros ($106.42-million) in funding from the German economy ministry for its renewable energy plant in Landau, Germany. The Vulcan HEAT4LANDAU project is for generating renewable geothermal heat to support Landau's... →

India thermal coal imports fall at fastest pace in 15 months

12th November 2024 India's imports of thermal coal plunged by about a third on an annual basis in October, according to data analytics firms Bigmint and Kpler, due to slowing power generation and higher clean energy output. Shipments into the world's second-largest coal importer plunged 31.8% to 13.56-million... →

Fresnillo says operational issues at Sabinas mine affecting silver production

12th November 2024 Precious metals miner Fresnillo said on Tuesday that the Sabinas mine, owned by Mexico's top silver miner Industrias Penoles, was experiencing operational difficulties, affecting silver production. Shares in the FTSE 100 miner fell more than 5% in early trade. Fresnillo did not disclose the... →

Chilean regulator charges Codelco smelter over emissions violation

12th November 2024 Chile's environmental regulator has filed a charge against State-run miner Codelco over alleged emissions violations at its Potrerillos copper smelter in the Atacama region. The Superintendency of the Environment said in a statement that an audit showed Codelco had not implemented a monitoring... →

Vodacom not looking for other M&A deals after blocked Maziv merger

11th November 2024 South Africa's biggest telecoms operator Vodacom said on Monday it will not look into other M&A deals after its proposed merger with fibre group Maziv was blocked by regulators last month. The decision by the country's Competition Tribunal was a blow to Vodacom's ambitions of expanding its fibre... →

Liontown Resources trims output plans for Kathleen Valley, flags cost cuts

11th November 2024 Australia's Liontown Resources trimmed its production plans for the flagship Kathleen Valley lithium project on Monday and flagged cost cuts to adapt to low metal prices, months after producing its first spodumene concentrate. Shares of the Perth-based lithium producer fell as much as 4.2% to... →

Kathleen Valley

Australian iron-ore giants' shares sink on disappointing China stimulus

11th November 2024 Shares in Australia's iron-ore miners slumped on Monday after another round of stimulus measures by their top customer China disappointed investors who had hoped for measures that would boost commodities demand. Iron ore prices slid to their lowest in more than two weeks on Monday after China's... →

Resolute Mining slumps after Mali detains CEO, two other employees

11th November 2024 Shares of Australian gold miner Resolute Mining plunged 32% on Monday in their worst day in 16 years, after three of its employees including CEO Terence Holohan were detained by government officials in Mali. Holohan and two other company executives were in Bamako, the West African nation's... →

Resolute Mining CEO Terence Holohan

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