ArcelorMittal, IDC end exclusive South Africa talks with no deal

ArcelorMittal’s exclusive talks with South Africa’s biggest development finance institution regarding its potential sale of its local steel operation have ended without a deal, leaving the company... 

South Africa starts trial of first self-made vaccine in 50 years

South Africa started a clinical trial for its oral cholera inoculation, the first developed from scratch locally in 50 years as President Cyril Ramaphosa has joined continent-wide calls for growing... 

Goldman sees South Africa ratings upgrade this week after budget

Goldman Sachs expects an improvement in South Africa’s public finances to pave the way for a sovereign credit-rating upgrade on Friday, days after Finance Minister Enoch Godongwana delivers a... 

Environment Minister Dion George set to lose his post

Minister of Forestry, Fisheries and the Environment Dion George looks likely to lose his post after his party, the Democratic Alliance, proposed that he be replaced by its spokesperson, Willie... 

Bolivia is rethinking lithium deals with China, Russia in US pivot

Bolivia is awash in the battery metal lithium, but the resource is nearly all trapped underground. President-elect Rodrigo Paz, who takes office Saturday, is vowing to finally bring Bolivia into... 

CATL sees progress in bid to restart key Chinese lithium mine

Contemporary Amperex Technology has been told how much it should pay for the rights to its key lithium mine in China, another sign of progress in the battery maker’s bid to restart the operation... 

Oppenheimer family scion urges South Africa to cut red tape

Jonathan Oppenheimer, scion of the family that built Anglo American and De Beers into global mining powerhouses, urged the South African government to “get out of the way” of entrepreneurs. While... 

Trump Administration adds copper, coal to critical minerals list

The US added uranium, copper and silver to a government list of critical minerals as the Trump administration broadens its scope of what commodities it deems vital to the American economy and... 

South Africa’s commodity boom set to spill into wider economy

South Africa’s commodity windfall is expected to seep into the broader economy, boosting banks, retailers and property stocks as stronger prices improve the fiscal outlook and support lower... 

Former Vodacom executive eyes $200m AI fund post Optasia exit

Former Vodacom Group executive Romeo Kumalo’s investment firm plans to raise a $200-million fund to back AI-focused companies across Africa, as it bets on a wave of innovation following its... 

Once a lithium darling, Sigma’s woes mount with 29% stock rout

Sigma Lithium is plunging amid growing doubts about near-term production and potential delays to a key expansion project. In a sharp reversal for a stock once seen as an industry darling, Sigma... 

China’s MMG hit by EU probe of $500m Anglo deal

Chinese-owned mining firm MMG’s $500-million purchase of Anglo American's Brazilian nickel business has been hit by an in-depth European Union probe after regulators warned that the deal threatens... 

Asia’s coal mavericks chase riches while giant miners scale back

Deep in the rainforests of Indonesia, a group of miners is betting there’s still billions to be made from the world’s dirtiest fossil fuel. Global mining giants have largely retreated from coal... 

China’s massive African mine threatens to upend the iron-ore market

In April 1998, a young geologist and his team set out from the village of Moribadou and trekked for six hours through the Guinea Highlands, a densely forested plateau that spreads across four... 

Rio Tinto CEO Trott steps up push to streamline sprawling miner

Rio Tinto Group’s new boss has told staff that plans to focus the miner’s sprawling corporate structure on its most profitable metals will be a blueprint for a “sharper, simpler” operation, though... 

Anglo sees Chile copper mine returning to full output in 2027

Anglo American’s expects its flagship copper mine in Chile to return to normal output levels in 2027 after grappling with a period of lower quality ore that’s set to constrain production next... 

North American miners sell shares at fastest pace since 2013

Mining companies are selling shares at the fastest clip in a decade, and investors looking for exposure to sharply higher gold prices and in-demand critical minerals can’t get enough. With October... 

South Africa to start R2.5bn fund to tackle unemployment

South Africa will on Friday start offering loans from a R2.5 billion Youth Fund aimed at supporting small businesses, part of a push by the government to tackle one of the world’s highest... 

Moody’s upbeat on Johannesburg’s finances despite political woes

Johannesburg, South Africa’s richest city and economic hub, received a vote of confidence from Moody’s Ratings despite a record of political dysfunction and wasted spending that’s prompted the... 

Newmont said to eye deal for Barrick’s prized Nevada assets

Newmont is studying a potential deal to gain control of Canadian rival Barrick Mining’s prized Nevada gold assets, people with knowledge of the matter said. Denver-based Newmont has a minority... 

South Africa boosts deportations amid jobs crisis, Schreiber says

South Africa is pushing to deport more undocumented migrants who compete with citizens for jobs in an economy with one of the highest unemployment rates globally, the minister overseeing the... 

Lower CPI goal may save S Africa R900-billion in debt costs

Reserve Bank Governor Lesetja Kganyago emphasised the benefits of a lower inflation goal, saying it could save the government as much as R900-billion over a decade in debt-service costs. “What we... 

Angola submits bid for Anglo American’s majority De Beers stake

Angola said it has offered to buy Anglo American’s majority stake in De Beers, facing off against other potential suitors including neighboring Botswana. State-owned Angolan gem producer Endiama... 

BlackRock backs South African bonds amid US debt concerns

South African local-currency government bonds are becoming a top pick for investors seeking an alternative to US Treasuries amid worries about a weaker dollar and rising government debt, according... 

South Africa’s R440bn grid build draws Adani, Chinese firms

South Africa’s R440-billion transmission grid expansion programme has attracted interest from international developers, including a company owned by Indian billionaire Gautam Adani and Chinese... 

Saudi Arabia lures Macquarie, Rinehart in courtship of Australia

Saudi Arabia is ramping up efforts to deepen ties with Australia — a country with which it has traditionally done limited business — as the kingdom seeks to capitalise on fresh momentum from deals... 

Mining investor says US must outspend China on critical minerals

A US-backed mining investor warned that Washington must outspend Beijing on critical minerals projects to challenge China’s dominance of global supply chains. Western governments are still moving... 

US Africa envoy sees positive progress on extension of AGOA

US President Donald Trump’s Africa envoy signaled progress toward the renewal of a program allowing African nations duty-free access to the world’s largest economy. “We understand that it’s moving... 

Australia pitches to be Trump’s fix for China rare earths curbs

Australia’s prime minister is set to pitch his nation’s vast resource holdings as a solution to China’s rare earth curbs at a meeting Monday with President Donald Trump, as the US and other... 

GM, Vale pause battery material plans in Canada on EV pullback

General Motors Co. and a partner have paused the second phase of a cathode factory in Quebec, resulting in the cancellation of a nickel sulfate project by Vale SA. GM agreed in 2022 to buy nickel... 

Cobalt rally risks pushing away battery makers, top miner says

Battery makers will hasten a shift away from cobalt if the metal’s price – boosted by export limits in the Democratic Republic of Congo (DRC) – goes even higher, said an executive at the biggest... 

Codelco plans to speed up automation after copper mine collapse

Codelco, one of the world’s biggest copper producers, is pursing ways to remove more people from its giant mines in Chile after a deadly collapse underscored the dangers of digging deep... 

ArcelorMittal M&A head holds talks in South Africa over unit sale

ArcelorMittal SA’s head of mergers and acquisitions, Ondra Otradovec, is holding talks in South Africa with the nation’s top development-finance institution and trade department about the sale of... 

South Africa investigates how it made a part for Russian drones

South African authorities said they are investigating how electronic equipment made in the country ended up in Russian drones used to attack Ukraine. The part in question is a laser range finder... 

South Africa books ‘big wins’ on lower inflation, Kganyago says

South African central bank Governor Lesetja Kganyago said lower inflation has delivered “big wins” by reducing government borrowing costs, vindicating his decision to anchor the rate at the bottom... 

Zambia’s record copper mining output meets a red-hot market

Zambia is poised for record copper production this year, bolstering its standing as a key global supplier just as prices surge and demand is set to grow. A wave of accidents and disruptions at... 

Lithium Americas analysts sour as US stake sparks 175% rally

It’s almost old hat to the market by now. Take a struggling company, cut a deal with the US government, sealed with the approval of President Donald Trump, sit back and watch the stock take off.... 

Eskom’s biggest union demands 15% increase ahead of wage talks

The biggest union at South Africa’s Eskom is demanding a wage increase of as much as 15% ahead of negotiations that are set to begin. The National Union of Mineworkers, representing about 15 000... 

Botswana says pulled diamond sale wasn’t an ‘emergency’ auction

Botswana said an unprecedented ad-hoc diamond auction late last month — in which it didn’t sell any gems because the reserve price wasn’t met — wasn’t an “emergency sale.” State trader Okavango... 

Trump approves road project in Alaska, stake in Trilogy Metals

President Donald Trump reversed a Biden administration decision blocking the construction of the Ambler Road project in Alaska, in a move he said would open up critical energy and mining projects....