Angola's new Cabinda refinery to start up later this year – CEO

Angola’s new Cabinda crude oil refinery is on track to start up later this year before ramping up to full first phase production of 30,000 barrels a day by July next year, the plant’s Chief... 

Vale says Q2 net profit triples, iron-ore sales up

Brazilian miner Vale, one of the world's largest iron-ore producers, said on Thursday its second-quarter net profit soared to $2.77-billion, triple the year-earlier period and above analyst... 

Rio Tinto, BYD and LG Energy show interest in Chile's Altoandinos lithium site

Twelve companies including global miner Rio Tinto and Chinese electric vehicle maker BYD have submitted proposals to extract lithium in Chile's Altoandinos salt flats, the state mining company... 

Eramet lifts profit outlook on manganese rally, says nickel market tough

Eramet raised its outlook for full-year core earnings on Thursday due to a jump in manganese prices, though the French miner expected the nickel market to remain tough after it contributed to a... 

First Quantum copper mine not on government agenda this year, Panama's Mulino says

Panamanian President Jose Raul Mulino said on Thursday the government will not address issues around a major shuttered First Quantum copper mine until the early 2025. The lucrative Cobre Panama... 

Brazil government mulls 'tougher measures and sanctions' on Vale, Minister says

Brazil's government could apply "tougher measures and sanctions" on Vale to combat the mining giant's "arrogant" stance towards the country, Mines and Energy Minister Alexandre Silveira told... 

Newmont beats profit estimates on higher gold production

Newmont beat Wall Street estimates for second-quarter profit on Wednesday, as the world's biggest gold miner benefited from robust production and higher prices. The company also said it would sell... 

Chile's lower house of Congress asks Boric to void Codelco-SQM deal

hile's lower house of Congress approved a resolution asking President Gabriel Boric to annul an agreement between state copper company Codelco and Chilean miner SQM that would give Codelco a... 

Fortescue to step up energy spending despite job cuts

ustralia's Fortescue said on Thursday it will increase spending on its energy division to advance several new green hydrogen projects next year, disappointing analysts who had expected a company... 

Teck beats second-quarter profit estimates, cuts copper guidance

Canadian miner Teck Resources beat second-quarter profit estimates on Wednesday, on the back of higher production volume from its Quebrada Blanca copper mine in Chile and increase in prices of the... 

Anglo to face investors with wary eye on BHP's potential return

Anglo American investors will keenly scrutinize CEO Duncan Wanblad on Thursday as he gives an update on the London-based miner's strategy, just months after fighting off a $49-billion takeover bid... 

Canada's TMC to apply for deep-sea mining licence this year, CEO says

Canada's The Metals Company (TMC) plans to apply for a licence to extract minerals from the ocean floor before the end of this year, its chief executive told Reuters, as nations gather in Jamaica... 

Gold rally to boost profits for miners Newmont, Barrick

Newmont and Barrick Gold, the top two gold miners of the world, are expected to post higher quarterly profits, powered by a rally in the precious metal's prices. Rising hopes of a US interest rate... 

Botswana proposes law for locals to acquire 24% stakes in mines

Botswana is proposing a law that will ask mining companies, once granted a licence, to sell a 24% stake in mines to locals if the government does not exercise its option to acquire the... 

BHP must stop funding legal action to halt Mariana dam claim, court rules

BHP Group must stop funding legal action seeking to halt some Brazilian municipalities from bringing a multi-billion pound claim over one of Brazil's worst environmental disasters, London's High... 

Codelco obtains $532m in climate financing

Chilean State miner Codelco, one of the world's largest copper producers, said on Tuesday it has obtained $532-million in climate financing authorised by french bank Credit Agricole CIB. The funds... 

Freeport McMoran plans $7.5bn investment to expand Chile copper mine

US miner Freeport McMoran plans to invest around $7.5-billion to expand its El Abra copper mine in Chile, a project expected to take seven to eight years to develop due to permitting requirements,... 

First Quantum says Jiangxi can nominate one person to board

First Quantum Minerals said on Tuesday that Jiangxi Copper will have the right to nominate one person to the Canadian miner's board as the company looks to keep its biggest shareholder at arm's... 

Freeport-McMoran beats second-quarter profit estimates on higher copper prices

Miner Freeport-McMoran beat second-quarter profit estimates on Tuesday, as higher copper prices offset lower production. Shares of the company rose 2.4% to $47.12 in premarket trading. 

Copper prices, output drive Grupo Mexico profit jump

Mining and transport conglomerate Grupo Mexico reported a 34% increase in second-quarter net profit on Monday, fueled by higher copper prices and mining output. Net profit of $1.122-billion topped... 

Australia announces new offshore gas exploration permits to plug supply gaps

Australia on Tuesday announced new offshore gas exploration permits for its east and west coast markets in a bid to ease concerns over long-term supply gaps as the country moves rapidly away from... 

Rio Tinto class action over Bougainville mine damage set for October hearing

The first hearing date has been set in a class action against miner Rio Tinto RIO.AX for historical environmental and social damage caused by the Bougainville copper mine in Papua New Guinea that... 

Ramaphosa signs law allowing savers access to pension funds

President Cyril Ramaphosa signed a law that will give savers early access to part of their retirement funds. The president’s assent of the Revenue Laws Amendment Act establishes a so-called two-pot... 

Saudi Arabia to visit Brazil and lithium power Chile as seeks to diversify

Saudi Arabia's mining minister will visit Brazil and Chile over the coming two weeks, the ministry said on Sunday, as the world's leading oil exporter seeks to expand its international presence in... 

Indonesia launches nickel, tin online tracking system

Indonesia launched on Monday an online system to track movements of nickel and tin from mines to domestic processing facilities to improve accountability and government revenue, authorities said.... 

Western miners push for higher metals prices to ward off Chinese rivals

The only US cobalt mine sits fallow in the northern Idaho woods, a mothballed hunk of steel and dirt that is too expensive for its owner to operate because Chinese rivals have flooded global... 

Woodside to buy US LNG developer Tellurian for $1.2bn

Australia's Woodside Energy said on Monday it had agreed to buy US liquefied natural gas developer Tellurian, including its US Gulf Coast Driftwood LNG export project, for $1.2-billion including... 

Singapore's GEAR secures $850m for South32's Australian coking coal - sources

A consortium led by Singapore's Golden Energy and Resources (GEAR) has secured $850-million to buy South32's Australian coking coal assets, two sources told Reuters, as private credit continues to... 

Congo's South Kivu governor suspends mining operations in province

The governor of Democratic Republic of Congo's South Kivu province has ordered the suspension all mining activities in the restive region, giving all companies and operators 72 hours to leave... 

Serbia, EU and Germany sign battery supply chain deal

Belgrade and the European Union signed a deal on Friday to give the EU access to raw materials mined in Serbia and strengthen their ties on production of sustainable raw materials, battery... 

Boliden's Q2 earnings disappoint despite near fivefold rise

Swedish miner Boliden said on Friday its core earnings rose by nearly fivefold in the second quarter, helped by a one-off insurance claim, but missed market forecasts on weak zinc and copper... 

Chile hit by 7.4 magnitude earthquake near copper, lithium mines

A 7.4 magnitude earthquake has struck Chile, 45 km outside San Pedro de Atacama in the country’s northern copper and lithium mining region. The quake hit at 9:50 p.m. local time, according to the... 

Blank-check firm to buy Turkish mine in $290m bet on copper demand

Blank-check firm ACG Acquisition is buying a Turkish mine, which plans to start copper and zinc production in 2026, in a $290-million deal with a subsidiary of Turkish conglomerate Calik Holding,... 

Copper output from Chile's Codelco this year to top 2023, chairman says

Codelco chairman Maximo Pacheco said on Thursday that the state-run copper giant expects production this year to outdo 2023, with recovery expected in the second half of the year. "We have... 

Reserve Bank keeps main interest rate unchanged at 8.25%

South Africa's central bank kept its main interest rate unchanged at 8.25% in a decision announced on Thursday. Eighteen of 20 economists polled by Reuters predicted there would be no change in the... 

Nornickel in talks to build China nickel plant for battery sector, sources say

Russia's Nornickel is in talks with several Chinese battery companies to build a plant jointly producing nickel material from Russian semi-finished products, three sources with knowledge of the... 

US mine development timeline second-longest in world, S&P Global says

It takes an average of nearly 29 years to build a new mine in the US, the second-longest in the world behind only Zambia, hampering Washington's efforts to boost output of lithium, nickel and other... 

Golden rule: Why younger investors are drawn to gold

What asset class do millennials and Gen Z investors both want to own? Here is an answer you may not have guessed: Gold. Among wealthy investors under the age of 43, 45% own gold as a physical... 

Mexico has 'sufficient arguments' to win Ganfeng lithium dispute, says President-elect

exico President-elect Claudia Sheinbaum on Wednesday expressed confidence in her incoming government's ability to come out on top in a legal battle against Chinese miner Ganfeng and pledged to... 

South African retail sales rise 0.8% year on year in May

South African retail sales rose 0.8% year on year in May after rising by a revised 0.7% in April, Statistics South Africa figures showed on Wednesday. Sales fell 0.7% month on month in May after...