South Africa’s TARS is taking a chainsaw to wasteful spending

South Africa is unleashing its own version of the US Department of Government Efficiency, or DOGE, to cut programs deemed as wasteful or not aligned with government policy. A mechanism called... 

South Africa to amend Budget process after political wrangling

South Africa’s National Treasury plans to revamp its 2026 budget-preparation process after political wrangling saw this year’s proposal altered twice. “South Africa’s current budget process has not... 

Glencore to shut Australian copper mines with smelter on brink

Glencore is on track to close its last two copper mines in Mt Isa, Queensland, next week, ahead of a decision on whether to also shutter a smelter at the same complex. A shutdown of the mines –... 

South Africa inflation hits four-month high before rate meeting

South African inflation quickened to a four-month high in June, complicating the central bank’s task as it prepares to review interest rates. Consumer prices rose 3% from a year earlier, compared... 

Platinum market’s ‘deep’ tightness shows little sign of relief

The platinum market has tightened to unprecedented levels in the past few days as tariff fears and speculative buying pull metal from the key London and Zurich markets into warehouses in the US and... 

Rare-earth miner Aclara seeks state funding for US-Brazil plans

Aclara Resources is in talks with US government agencies for possible financing toward its $1.5-billion plan to mine rare earths in Latin America and develop processing facilities in the US. The... 

Copper-laden ships race to reach US ahead of Trump’s 50% tariffs

At least four ships carrying copper are trying to reach US ports before August to get ahead of planned import tariffs on the metal. The shipments represent the final scramble by merchants to cash... 

South Africa Roads Agency on verge of accessing Brics bank loan

South Africa’s National Roads Agency expects to be able to access a R7-billion loan from the New Development Bank soon and plans to use the money to upgrade key transportation routes. “The state... 

Mozambique’s Maputo port sees sharp drop in volumes after unrest

Mozambique’s Maputo port suffered a steep drop in shipments during the first half of the year amid trade uncertainties and social unrest, according to the company that runs its operations. The... 

Seabed regulators will scrutinise mining firms seeking US licences

A United Nations-affiliated organisation with jurisdiction over the global seabed took a tentative step Monday to respond to US President Donald Trump’s fast-tracking of deep-sea mining for... 

Buti Manamela to replace Nkabane as higher education Minister

President Cyril Ramaphosa fired Higher Education and Training Minister Nobuhle Nkabane, who is facing accusations that she misled parliament, eight days after he suspended a close cabinet ally for... 

Brazilian miners warned of potential $1bn in tariff pain

The Brazilian mining industry is warning of dire economic consequences if the government resorts to reciprocal tariffs in retaliation for US President Donald Trump’s threatened 50% levy starting... 

Trump's critical minerals obsession reignites deep-sea mining

The leader of one of the most aggressive seabed mining startups spent years invoking global warming to spark interest in extracting avocado-sized rocks rich in electric-vehicle battery metals from... 

Russian precious metals sales to China hit $1bn

Russian precious metals exports to China almost doubled in the first half of the year, as record gold prices boost revenue. Chinese imports of Russian precious metal ores and concentrates,... 

Mozambique’s $6.4bn hydropower plan to get World Bank funding

Mozambique won World Bank backing for its plan to build Southern Africa’s biggest hydropower plant in half a century. The lender plans to provide debt and equity funding as well as risk guarantees... 

Alcoa CEO says Trump tariffs force a pause for Canada growth projects

Alcoa, the storied US metals producer, is feeling the pinch of President Donald Trump’s tariffs and has been forced to pause work on all its growth projects underway in Canada. If the levies stay... 

South Africa moves closer to exiting dirty-money list in October

South Africa is edging closer to leaving a global financial watchdog’s so-called gray list in October, with a team of assessors scheduled to visit the nation this month. The Financial Action Task... 

UK’s Reeves announces South Africa infrastructure partnership to boost investment

UK Chancellor Rachel Reeves announced an infrastructure partnership with the South African government to boost investment in Africa’s biggest economy. The pact, announced in the South African port... 

China spy agency accuses foreign agents of stealing rare earths

China’s spy agency has accused overseas intelligence agencies of stealing controlled rare earth materials, reiterating its intent to curb smuggling even as Beijing agrees to review applications to... 

Former Lundin CEO Rockandel joining infor to seize on mining deals

Peter Rockandel, former chief executive officer of Canadian metals producer Lundin Mining Corp., is planning to capitalize on the recent uptick in mining financing and deal flow as he returns to... 

Anglo’s handling of De Beers sale irks stakeholder Botswana

Anglo American’s handling of the De Beers sale has angered Botswana, which owns 15% of the diamond producer, because the government believes that it hasn’t been properly consulted, people with... 

G20 nearing deal on communique, Godongwana says

Finance Minister Enoch Godongwana said the Group of 20 advanced economies are nearing a deal on a communiqué. “We are closer to a making a deal and achieving a consensus that will emerge as a... 

G20 finance chiefs confront uncertainty amid Trump’s trade war

South Africa called for greater cooperation among the Group of 20 advanced economies, as finance ministers and central bank governors gathered under the cloud of US President Donald Trump’s trade... 

Alcoa says Trump’s tariffs added $115m in aluminum costs

Alcoa Corp, the largest US aluminum producer, said tariffs on imports from Canada cost it $115-million in the second quarter, showing how US President Donald Trump’s trade agenda has affected the... 

Aura Minerals shares mixed in US debut after oversubscribed deal

Aura Minerals' shares were little changed from the offer price in a US trading debut, after the gold and copper miner raised $196-million in a listing in New York. The company’s shares traded at... 

Ultra-rare metal rides AI boom as commodities star performer

Thanks to the boom in artificial intelligence, an ultra-rare element you’ve probably never heard of is one of this year’s best-performing raw materials. Ruthenium, a silvery gray mineral, has... 

Iron-ore hits two-month high as China policy hopes buoy demand

Iron-ore climbed to a two-month high, with traders encouraged by China’s pledge to reduce excess competition and outdated capacity, despite the steel market’s weakening demand outlook. The bulk... 

Gold steadies as investors weigh outlook for Trump-Powell saga

Gold steadied after a volatile session on Wednesday as traders assessed the outlook for Jerome Powell’s tenure as Federal Reserve chair after more speculation that President Donald Trump may ax... 

Vedanta’s Zambia copper unit will revamp smelter to boost output

Vedanta Resources’ Zambian copper mining unit plans to refurbish its smelter as part of efforts to ramp up production from operations the company recovered last year. The plant will undergo “a full... 

Citigroup backs silver to soar just as gold’s rally loses steam

Silver will extend a rally beyond $40 an ounce in the coming months on tightening physical supplies and growing investment demand, according to Citigroup Inc., which reiterated a more cautious... 

Ghana moves to hedge gold price to preserve build-up of reserves

Ghana is working on a programme to hedge the price of gold exports as it seeks to shield earnings that have bolstered the central bank’s foreign reserves from future volatility, Governor of the... 

Barrick weighs sale of gold mine to Discovery Silver

Barrick Mining Corp is in advanced talks to sell its last Canadian gold mine to Discovery Silver Corp, according to people familiar with the matter, as the firms seek to capitalize on the soaring... 

China’s lithium giants tumble after first-half profit warnings

Shares in China’s lithium producers fell sharply on Tuesday after two of the largest miners warned that battery-metal woes had weighed on earnings for the first half of the year. Tianqi Lithium... 

Tariffs, China deflation cloud South Africa CPI, Kganyago says

South African central bank chief Lesetja Kganyago flagged that dollar depreciation because of US tariffs and deflation in China are clouding the outlook for inflation locally ahead of a... 

Indonesia looking at levy on coal exports

Indonesia, the world’s biggest coal exporter, may impose an export levy on the fossil fuel in a bid to boost state revenues, according to local media reports that cited a government minister. The... 

CMOC boosts cobalt production despite Congo export ban

China’s CMOC Group produced more cobalt at its two mines in the Democratic Republic of Congo (DRC) in the first half of this year, despite the African nation’s ban on exports. The world’s largest... 

South Africa aims to forge G20 accord despite ongoing US enmity

South Africa expressed confidence that it can get finance ministers and central bank governors from the Group of 20 nations to agree on a communique for the first time since it assumed the... 

Zimbabwe’s top diamond miner cuts 400 jobs as prices slump

Zimbabwe’s biggest diamond miner is cutting 400 jobs, weighed down by a global downturn in the market for natural gems, a company representative said by phone. State-owned Zimbabwe Consolidated... 

Mercuria and Zambia to ship first copper under new partnership

Mercuria Energy Group and a Zambian State-owned company are set to ship their first copper under a new trading partnership after obtaining a government waiver to export a semi-processed form of the... 

G20 agenda eclipsed as Bessent skips South Africa meeting again

For the second time this year, the world’s most powerful finance ministers gather in South Africa without the presence of the US Treasury Secretary. Scott Bessent will skip the Group of 20 again...