US remains in talks on $500m for Angola’s rail corridor

The US International Development Finance Corp. is still finalizing more than $500 million in financing for the Lobito corridor, a railway project that will haul critical minerals from central... 

Australia’s top iron-ore export hub has busiest May on record

Iron-ore shipments from the largest bulk-export terminal set a record for the month of May, putting flows at the biggest year-to-date volumes even after weather issues curbed exports earlier in... 

Coal loophole undermines bank pledges to cut fossil fuel funding

In the parts of the financial world that have spent the decade since the Paris Agreement trying to curb the most-polluting fossil fuel, there are actually two distinct types of coal — with two very... 

Trump administration to open undeveloped forests to mining, logging

The US Department of Agriculture will rescind a Clinton-era policy that banned logging, roads and mining in undeveloped forests so it can manage those lands for fire risks, the agency said on... 

Trump exhorts US to drill oil, gas after Iran attacks

US President Donald Trump urged his administration on Monday to boost drilling rates and market players to keep oil prices down amid fears that the aftermath of the US attacks on Iran's nuclear... 

Gold falls as haven demand ebbs after Trump announces ceasefire

Gold retreated as haven demand ebbed after US President Donald Trump announced that Israel and Iran had agreed to a ceasefire that would start about midnight Monday in Washington. Bullion fell as... 

Agnico Eagle CEO sees only one reason to buy a gold stock

The head of one of the world’s most valuable gold miners believes there’s only one reason to buy a gold mining stock – and too few companies in the industry are offering it to investors. “The only... 

ANC regains ground, poll finds

Support for South Africa’s biggest political party rebounded after it was forced to scrap plans to raise value-added tax and now stands at 40%, the same as it garnered in last year’s elections,... 

Chinese cobalt prices and stocks spike after Congo extends ban

Cobalt prices and stocks surged in China after the Democratic Republic of Congo extended its export ban to September, constricting supplies of the raw material used in alloys and batteries. The... 

Investors set to flock to safety as world awaits Iran’s response

Traders are forecasting a drop in stocks, a jump in crude prices and possibly a strengthening of the dollar as investors head for safety in the wake of the US attack on Iran’s three main nuclear... 

Toyota files R6.5bn South Africa flood damage lawsuit – Business Day

Toyota Motors Corp. has brought a lawsuit for R6.5-billion in a South African court for 2022 flood damages that shuttered its plant near Durban, Business Day reported. The claim against Transnet... 

Xi’s giant iron-ore trader is shaking up a $130bn market

Just three years after its founding, a Chinese government-run trader has become the single biggest force in the country’s $130-billion market for iron-ore imports. The rise of China Mineral... 

First Quantum takes small steps in long road to Panama mine restart

First Quantum Minerals is receiving some encouraging signs for its shuttered mine in Panama, though the nation’s president warned there’s a long way to go before reaching a deal to restart. The... 

Barrick’s future in Mali hinges on key gold mine permit renewal

One of the next major hurdles in Barrick Mining Corp.’s saga in Mali will be renewing a key gold mining license, after the state temporarily took over the vast Loulo-Gounkoto complex this week. The... 

South Africa banks at risk from trade, war shocks, Sarb says

Growing geopolitical tensions and global policy uncertainty are among the biggest risks facing South Africa’s financial industry, the central bank said. The nation is vulnerable to spillover... 

South Africa declares national disaster after floods kill 92

South Africa declared a national disaster after floods and snow killed more than 90 people and destroyed roads and bridges in four of the country’s nine provinces. Adverse weather since June 9... 

Gold edges higher after Fed’s inflation warning triggers decline

Gold edged higher following a decline in the previous session triggered by Federal Reserve chairman Jerome Powell’s warning of inflation risks for the US economy. Bullion was trading around $3 380... 

Platinum rallies to the highest since 2014 amid market tightness

Platinum extended a powerful rally to hit the highest level in more than a decade, with gains underpinned by a spike in demand and expectations for a market deficit. Spot prices surged by more... 

Indonesia to sanction nickel park firms for environment breaches

Indonesia will sanction companies for environmental breaches at an industrial park that accounts for a large slice of its nickel output. Environmental violations have been found at Indonesia... 

China lashes out at G7, Von der Leyen for criticism of policies

China has attacked the Group of Seven nations for what it called interference in its internal affairs and chastised a top European official for criticising Beijing’s rare earth and economic... 

South Africa, US to resume trade talks as tariff deadline looms

South Africa will resume trade talks with the Trump administration on the sidelines of the US-Africa Business Summit next week, with less than a month to go before Washington’s reciprocal tariffs... 

Vale Base Metals boss says unit aims to be IPO-ready by 2027

The new boss of Vale’s base metals unit has reiterated a target of getting the sprawling nickel-and-copper business ready for a potential initial public offering by 2027, if not sooner. Veteran... 

Rare earth boss sees 'long, hard process' to loosen China’s grip

Western nations will take years to develop enough rare earth processing capacity to limit China’s dominance over the critical ingredients, according to industry veteran and former Molycorp boss... 

Citi calls time on gold’s rally due to slumping demand, Fed cuts

Gold is expected to sink back below $3 000 an ounce in the coming quarters as a record-setting rally runs out of steam, according to Citigroup Inc., calling time on one of the standout rallies in... 

New finance rules aim to accelerate emissions cuts in Australia

Australia set new guidelines on the types of projects eligible for sustainable finance, aiming to accelerate investment in emissions reduction in polluting industries like agriculture, mining and... 

Climate Investment Funds approve $2.6bn coal-exit plan for South Africa

A World Bank-linked climate fund has backed South African plans to cut its reliance on coal, unlocking up to $2.6-billion in financing and giving the nation’s energy transition an unexpected boost.... 

South Africa to give Transnet more guarantees to settle debt

South Africa’s government said it will give Transnet additional guarantees so the troubled State ports and freight railway operator can settle all its debt that falls due and execute its... 

Copper clash shows cracks in decades-old pricing system

Canadian miner Teck Resources and Japan’s Sumitomo Metal Mining are locked in a commercial dispute over a major copper supply deal, exposing cracks in a decades-old pricing system as the market... 

Flooding at Ivanhoe copper mine was self-induced, study suggests

Seismic activity that disrupted output at a massive copper mine in the Democratic Republic of Congo appears self-induced, according to preliminary findings released by operator Ivanhoe Mines. The... 

Greenland gold mine sees rush of investors in new funding round

Amaroq Minerals, which mines for gold in Greenland, has secured international backing in an oversubscribed fundraising round, underscoring rising interest in Arctic resources. Greenland and its... 

China rare-earth magnet maker gets green light for US exports

A major Chinese manufacturer of rare-earth magnets received export permits to countries including the US, in a possible sign of easing tensions between Beijing and Washington. JL Mag Rare-Earth... 

Gold edges higher even as US and China agree to ease trade war

Gold edged higher even after the US and China said they had agreed on a plan to ease trade tensions during talks in London. Bullion traded near $3 330 an ounce, and is up modestly for the week. US... 

South Africa statistics chief defends jobless-data calculations

The head of South Africa’s statistics agency defended the methodology of his organisation’s unemployment data after the chief of the nation’s top bank by customers said misclassification of traders... 

Gold rally brings riches to rural Zimbabwe

In Filabusi, in south-eastern Zimbabwe the streets are packed with BMW X5s and Land Rover Defenders, modern houses paid for in cash are springing up and whisky is only sold by the bottle in the... 

Musk’s Starlink licence decision up to South African regulator, Malatsi says

The decision whether to award Elon Musk’s Starlink an operating license in South Africa will ultimately rest with the country’s industry regulator, a government minister said. The Pretoria-born... 

India’s swelling coal stockpiles test State-owned mining giant

Recent rains may have provided the world’s most populous nation some relief from scorching summer heat, but they shattered state-owned mining giant Coal India’s hopes of denting record-high... 

Freeport CEO says tariffs threaten to hinder US copper mining

The threat of US levies on copper imports has been a boon for Freeport-McMoRan, with North America’s top producer cashing in on selling the metal at a premium. Still, the firm’s top boss warns that... 

South Africa wins $1.5bn World Bank infrastructure loan

The World Bank has approved a $1.5-billion loan to support structural reforms aimed at boosting South Africa’s infrastructure. The Washington-based lender said in a statement the operation will... 

Zambia seeks carmakers to make EV components near copper mines

Zambia has held talks with carmakers to entice suppliers to build electric vehicle (EV) components plants near its copper mines. “We have been talking, even last week when I was in Germany, telling... 

China’s copper boom under threat as miners test bargaining power

The unrelenting expansion of Chinese copper processing capacity over the past few years has now become a global headache, as smelters scramble to secure the ore they need to produce the vital...