Namibia aims to finalise sovereign wealth fund in 2025

Namibia's government plans to complete the establishment of its sovereign wealth fund in 2025, when it also expects its first offshore oil project to be approved, the southern African country's... 

Vale's CEO announcement to curb market speculation, says chair

Brazilian miner Vale's decision this week to announce a new chief executive sought to avoid further market speculation over other potential candidates, the company's chairman told Reuters on... 

Lynas Rare Earths beats annual profit view, shares rise 2%

Australia's Lynas Rare Earths posted a smaller-than-expected fall in annual profit on Wednesday, helped by lower operating costs amid weak prices and subdued China demand, sending its shares 2%... 

Fortescue beats dividend payout view, shares rise

Australia's Fortescue reported a rise in annual profit on Wednesday, boosted by higher iron-ore shipments from its Iron Bridge project, and announced a larger-than-expected final dividend, sending... 

Fortescue sets out to meet strong Chinese demand for green iron

Australia is positioned to meet strong demand from China for green iron, Fortescue said on Wednesday as it readies a pilot plant to begin production of the product using renewable energy next... 

Russian gold miner Polyus' H1 profit jumps on higher global prices

Russia's largest gold miner Polyus on Tuesday posted a 183% jump in first-half profit to $1.58 billion despite Western sanctions, boosted by higher global prices for gold that hit successive record... 

South African private power producers seek fair deal over output curbs

South African private power producers are seeking compensation for revenues lost when adhering to requests from state utility Eskom to limit electricity supply to the national grid, industry... 

Indonesian miner Antam plans to acquire smelter owned by Tsingshan unit

Indonesian State-controlled miner PT Aneka Tambang (Antam) is planning to acquire a smelter owned by a subsidiary of Chinese stainless steel giant Tsingshan Holding Group, its chief executive said... 

Australian shares rise as BHP Group, Woodside Energy shine on upbeat earnings

Australian shares advanced on Tuesday, led by mining and energy stocks after sector majors BHP Group and Woodside Energy posted strong earnings, while investors remained focused on a key local... 

Brazilian iron-ore miner Vale names CFO Pimenta as next CEO

 Brazilian miner Vale on Monday said that current CFO Gustavo Pimenta will become its next CEO, wrapping up a noisy succession process that had seen board members depart amid accusations of... 

Congo wants Trafigura partner Chemaf's deal with China's Norinco halted

The government of the Democratic Republic of Congo is opposed to a proposal by Chemaf SA to sell its copper and cobalt mines in the country to China's Norin Mining, according to a document seen by... 

Mali to meet or exceed forecast for industrial gold output

Industrial gold production in Mali, one of Africa's top producers of the precious metal, is expected to reach or exceed its 57.3 metric ton (tons) forecast for 2024, according to the mines... 

China's gold demand expected to rebound as economic jitters spur buying

Gold demand in China is expected to improve in coming months as consumers adjust to higher prices, industry officials said, with economic uncertainty and concerns about currency weakness driving... 

BHP's return to Argentina marks new hope for untapped copper mines

A new incentive regime for mining in Argentina is attracting major players such as BHP, who are starting to eye the South American country as the world's next frontier for copper, more than half a... 

Samarco expects to reach 60% of output capacity by year-end

Brazilian miner Samarco expects to reach 60% of its output capacity by the end of 2024, bringing forward a previous timeline, as it continues to resume activities after halting operations due to a... 

Striking union workers at Chile's Caserones copper mine accept contract deal, Lundin says

Canada's Lundin Mining said Saturday it had reached an agreement with union workers at the Caserones copper mine in Chile after a strike that lasted nearly two weeks. A majority of union workers... 

Canadian rail decision is a win for companies, union leader says

A decision obliging more than 9,000 Canadian rail workers to stay on the job is a win for the railways and could impact bargaining in other federally regulated sectors like aviation, the head of a... 

Codelco could face $8m fine for tailings dam violations

Chile's environmental regulator on Thursday said it filed two charges against state copper giant Codelco over the management of its Talabre tailings dam at its Ministro Hales division in northern... 

Lithium mining is slowly sinking Chile's Atacama salt flat, study shows

Chile's Atacama salt flat is sinking at a rate of 1 to 2 cm (0.4 to 0.8 inches) per year due to lithium brine extraction, according to a study by the University of Chile. The study used satellite... 

Italian Minister gives Stellantis ultimatum over EU funds for planned gigafactory

Italy's industry minister said on Thursday he expected "within hours" a firm commitment by Stellantis over its plan to build a battery-making plant in the country, otherwise the government would... 

South Africa's telco industry calls for tech firms to help fund infrastructure

South Africa's telecoms industry body is pushing for digital content and service providers to help pay for the roll out of network infrastructure because they generate a huge part of the internet... 

Chilean court orders halt of union roadblocks at Caserones mine

- A Chilean court ordered a striking union at the Caserones copper mine to stop blocking roads around the mine, according to a ruling released on Wednesday. Canada's Lundin Mining, which owns the... 

South Africa inflation drops sharply, cementing rate cut expectations

South Africa's inflation dropped more than expected in July, falling to within touching distance of the central bank's target and cementing analysts' expectations that the bank will cut interest... 

Peru's copper output this year likely to fall short of 3Mt goal, SNMPE says

Peru will likely produce between 2.7-million and 2.8-million metric tons of copper this year, the head of a major mining group told Reuters on Tuesday, with estimated output falling below the... 

Australia's Santos misses profit view on production costs, lower prices

Australian oil and gas explorer Santos posted a bigger-than-expected fall in first-half profit on Wednesday, dented by lower realised prices and higher production costs amid weak demand from top... 

Dominican Republic creates State miner to explore for rare earths

The Dominican Republic on Tuesday said it will create a state mining firm to explore and exploit the nation's key mining resources, including rare earth minerals. The Dominican presidency said in a... 

Chile's SQM posts 63% slump in profit, expects weak lithium prices to stay

Chile's SQM, the world's second-largest lithium producer, reported a bigger-than-expected 63.2% slide in its quarterly profit on Wednesday due to weak prices of the battery metal, which it expects... 

Qatar Airways to make 25% equity investment in South African carrier Airlink

Qatar Airways will take a 25% stake in South Africa-based regional carrier Airlink as both airlines seek to boost services and passenger numbers across Africa, they said on Tuesday. Qatar Airways... 

Fertilizer Canada says rail stoppage to cost industry up to $63m a day

Fertilizer Canada warned on Tuesday disruptions impacting all rail services across the country will cost the fertilizer industry an estimated $55-million to $63-million per day in lost sales... 

Canada tells rail companies, union to work harder to avert crippling stoppage

Canada's labor minister will meet with the country's two main railway companies and the Teamsters union in Montreal on Tuesday and Calgary on Wednesday to try to avert a crippling rail transport... 

Sasol profit plunges 66% on weak chemical prices, skips final dividend

South African petrochemicals company Sasol reported a 66% fall in full-year profit on Tuesday, mainly due to weaker chemical prices, and skipped a final dividend. Headline earnings, which strip out... 

Strike at Lundin's Caserones copper mine showing no signs of resolution after a week, union says

A strike by a workers' union at Lundin Mining's Caserones copper mine in Chile that has dragged on for more than a week is not showing any signs of resolution, the union's president said on... 

Initial bids for Anglo's Australian coal mines next month, sources say

First-round bids for Anglo American's Australian metallurgical coal mines are due by September 9, two sources said on Tuesday, as CEO Duncan Wanblad takes initial steps to simplify the company... 

Not-so-rare earths: Ample supply weighs on prices of key minerals group

Weak demand for rare earths combined with ample supplies are weighing on prices of the group of 17 minerals used in technologies from lasers to EVs, with little near-term catalyst in sight,... 

Physical buyers win battle for copper market as funds retreat

Investors fleeing the copper market are likely to be sidelined for many months, leaving the field clear for physical players who expect demand in top consumer China and elsewhere to deteriorate... 

Finland's Metso says it has no plans for a Sandvik tie-up

Finnish mining equipment maker Metso said on Monday it has no ongoing plans for a tie-up with the rival mining equipment business unit of Sweden's Sandvik. Swedish business daily Dagens Industri... 

Canada-wide freight rail stoppage looms this week as two firms issue lockout notices

Canada's freight rail network could come to a grinding halt this week, inflicting a huge economic toll after the country's two largest railroad operators on Sunday issued lockout notices to the... 

Union at BHP's Escondida copper mine in Chile signs new deal, ending risk of strike

The union at Chile's Escondida copper mine, the world's largest, signed a deal on Sunday with BHP, ending a strike that could have threatened global supplies of the red metal. The three-year deal... 

Woodside gets environmental go-ahead for Scarborough project; key green group backs down

Woodside's $12.5-billion Scarborough gas project in Western Australia has all primary environmental approvals in place, the firm said on Monday, after a green group agreed to dismiss its challenge... 

BHP says strike ends at huge Escondida copper mine

 A three-day strike at BHP's massive Escondida copper mine in Chile was halted on Friday after management and a large union reached a deal, the miner said, easing concerns about a hit to global...