Peru miner Volcan eyes $200m in further asset sales

Volcan Cia Minera, the Peruvian zinc miner that was recently acquired by Argentine group Integra Capital, said it is pushing ahead with plans to sell non-core assets as it talks with creditors to... 

Canada blocks Chinese rare earths deal in Trudeau-led crackdown

Canada’s government will buy stockpiled rare earth materials from Vital Metals in a deal that prevents the company from selling its production to a Chinese buyer. The small Australian firm, which... 

Unity government parties back rapid economic growth

South Africa’s African National Congress and the Democratic Alliance committed to “rapid, inclusive and sustainable” economic growth in an agreement on forming a so-called government of national... 

Transnet to boost rail for VW, other automakers

Transnet said it’s in talks to run additional trains between a port in Gqeberha in the Eastern Cape province and the country’s commercial hub of Gauteng to better link the two automotive... 

South African parties agree to reelect Ramaphosa as President

South African political parties that support a broad alliance to form the next government agreed to back the reelection of Cyril Ramaphosa as president. “We have agreed to cooperate on the... 

Climate dealmakers brace for China showdown over money at COP29

With just five months to go before the COP29 climate summit, the biggest fights are set to be over how to channel trillions of dollars from developed nations to emerging markets — and how China... 

DP world plans $3bn investment in African ports by 2029

DP World plans to spend $3-billion over the next three to five years on new port infrastructure in Africa to meet long-term growth that includes surging demand for critical mineral exports. “The... 

Second Australian rare earths producer suffers cyber attack

Iluka Resources has become the second Australian rare earths miner to suffer a cyber attack in recent months, although the hackers weren’t able to penetrate its cybersecurity protections. The... 

China steel demand plateaus at a decent level, Vale’s boss says

Chinese steel demand “has definitely plateaued” due to property woes, though the Asian nation’s appetite for the material is still at a “decent level,” said the head of the world’s second-largest... 

Billions in African gold smuggled to UAE every year – SwissAid

Billions of dollars of gold is smuggled out of Africa every year, with the vast majority exported to the United Arab Emirates for processing, according to a report by SwissAid. Using data on... 

CEF’s Sapref refinery purchase raises clean-up concern

South Africa’s purchase of the nation’s largest refinery from Shell and BP for a symbolic R1 will transfer the environmental liability of the site to the government, according to a local advocacy... 

Ramaphosa key to dealing with ‘off-the-charts’ South Africa risk

President Cyril Ramaphosa is key to handling political risk that’s “off the charts” in the nation after a vote last month failed to hand any party a majority, Standard Bank’s chairperson said. The... 

Adani’s Aussie coal port gets A$500m private credit loan

The Adani Group unit that controls a major Australian coal port has obtained a private credit loan of about A$500-million, according to people familiar with the matter. The company North... 

Zimbabwe’s ferrochrome miners agree to build power plants

Zimbabwe’s ferrochrome miners, the nation’s biggest electricity consumers, have agreed to build their own power plants over the next two years as the government seeks to balance energy demand.... 

Congo to buy out UAE partner in gold venture as shipments slump

The Democratic Republic of Congo (DRC) is finalising a deal to take full control of a gold-export joint venture from its Emirati partner, after shipments slumped. Congo started Primera Gold DRC in... 

Volkswagen says carmakers seek to revive key South African rail line

Volkswagen and other automakers operating in South Africa are in talks with the state logistics company to revive a dilapidated rail line between the country’s commercial hub and a car export... 

Fortescue loses another senior leader

Fortescue has confirmed the resignation of its director of global growth, Julie Shuttleworth, who previously served as group deputy chief executive and CEO of the green energy division.... 

Solar installations slow in South Africa after blackouts ease

Repairs to South Africa’s coal-fired stations that have helped the State power utility avoid debilitating blackouts for three months straight is giving solar installers an unintended break. Until... 

Forget copper and gold as steelmaking manganese outperforms

Manganese, an essential steel-making ingredient, has outstripped copper, gold and many other commodities this year after a cyclone halted exports from the world’s second-largest mine in March.... 

Glencore to back Indonesia nickel miner Ceria Nugraha before IPO

Indonesian nickel miner PT Ceria Nugraha Indotama is set to get backing from Glencore Plc to build a battery metal plant ahead of an initial public offering planned for next year. Glencore is in... 

Western Australia resolves mining imbroglio threatening licences

Western Australia’s government has approved draft legislation that will ensure the security of mining licenses and permits in the state, a major producer of iron-ore. The legislation, to be passed... 

BHP set to avert mine strike in Chile with preliminary wage deal

BHP reached a preliminary wage agreement with union leaders in Chile, signaling the company will avert a costly strike at a copper mine that accounts for about 1% of global supply of the wiring... 

Australia ‘not naive’ on China as Li visit looms, Chalmers says

Australia is realistic about the challenges in its diplomatic relationship with Beijing, Treasurer Jim Chalmers said, as the country prepares for the first visit by a Chinese Premier in more than... 

Elliott steps in to back faltering Canadian copper miner after bankruptcy

US hedge fund manager Elliott Investment Management has offered support to troubled Canadian miner Nevada Copper after the company filed for bankruptcy protection. Before Monday’s bankruptcy... 

Freeport-McMoRan is looking for ways to expand copper production, CEO says

US copper giant Freeport-McMoRan believes it can unlock the equivalent of a large new mine by applying new processing technology at its existing assets, according to new CEO Kathleen Quirk. Quirk,... 

Volkswagen, Isuzu pour cold water on South Africa’s EV ambitions

Volkswagen and Isuzu Motors have expressed skepticism about South Africa’s plans to develop electric and hydrogen-powered vehicle industries. While the government in February announced that... 

Eskom seeks executive to lead renewables division

South Africa’s Eskom Holdings is looking for a manager to lead its clean energy projects even as the utility extends the use of coal plants to mitigate nationwide electricity shortages. The group... 

Botswana says it’s in talks about increasing stake in De Beers

Botswana said it’s in talks over increasing its shareholding in De Beers, as Anglo American prepares to end its almost century-long relationship with the iconic diamond producer. As part of a... 

Zambia sees KoBold spending $2.3bn on giant copper mine

KoBold Metals, the Bill Gates-backed mining exploration company, could spend $2.3-billion to build a major new copper mine in Zambia, President Hakainde Hichilema said, citing figures from the... 

Speedier, greener lithium may be nine years away, Codelco says

Codelco, the copper giant that’s about to become a major lithium player, delivered some cautious guidance on the timing of a cleaner, faster way to extract the battery metal in northern Chile. A... 

Israel risks losing Colombian coal supplies over Gaza war

Colombia’s trade ministry is calling for a restriction on coal sales to Israel in the latest bid to isolate the Jewish state as the death toll rises in its Gaza campaign. The ministry made the... 

New copper fund revives controversial product

Sprott has launched a $100-million fund that will buy and hold physical copper, marking a comeback for a class of investment product that has in the past been highly controversial among investors... 

Zimbabwe to start gold-tracing system in bid to curb smuggling

Zimbabwe’s sole authorized buyer of gold will introduce a system that traces supply of the metal from mines to the market in a bid to stop smuggling. Fidelity Gold Refinery’s initiative will start... 

Copper’s spike isn’t justified by fundamentals, Trafigura says

Copper’s recent surge to a record wasn’t justified by real-world supply and demand, according to Trafigura Group — the top copper trader and usually one of the market’s most bullish voices.... 

Namibia’s audacious plan to become a global green hydrogen hub

Early in May, King Philippe of Belgium was on the edge of the Namib desert to inaugurate a project that aims to help decarbonize European industry, and which might just enable one of Africa’s... 

Investment in clean energy to reach $2tr this year, outpacing investment in fossil fuels

Investment in clean energy technologies will climb to $2-trillion this year, almost double the amount spent on fossil fuels, according to the International Energy Agency (IEA). Two-thirds of the... 

Glencore is said to weigh selling stake in Kazakh miner Kazzinc

Glencore is considering selling its stake in Kazakh mining company Kazzinc amid interest from potential buyers in China, people familiar with the situation said. A deal could value Glencore’s... 

Traders are desperate for copper deals and miners are cashing in

A heated competition for copper among some of the biggest commodity traders is creating opportunities for miners to negotiate favorable terms ranging from huge upfront payments to extra-long... 

China’s unusually large copper stockpiles fuel demand concerns

China’s copper inventories are growing at exactly the time of year when they should be shrinking fast — an anomaly that underscores concerns about demand in the world’s biggest market. Stockpiles... 

BHP turns to mediation as Chile miners seek share of copper boom

BHP Group is heading into mediation with union leaders in Chile in a bid to avoid a strike as this year’s surge in copper prices inflates the bottom lines of producers and expectations of their...