Looming wave of iron-ore supply threatens $100 price floor

Iron-ore prices are likely to stay in three digits for the rest of 2024, insulated to a large degree from China’s faltering economy by cost support that kicks in at around $100 a ton. But that... 

Conflict in Congo threatens trade in key metals, UN experts say

Companies buying metal sourced from central Africa could be exposing themselves to UN sanctions for supporting war in eastern Democratic Republic of Congo, according to a report by UN experts.... 

Canada move to limit mining M&A hurts big metals producers, Scotia says

New Canadian rules limiting foreign takeovers of mining companies will leave the nation’s biggest metals producers with lower valuations than their global peers, according to Bank of Nova Scotia’s... 

Zambia to build rare coal power plant as harsh drought hits dams

Zambia’s energy regulator approved the construction of the nation’s second coal-fired power plant, as its worst drought in decades cut output at the hydroelectric dams that account for most of its... 

Crops hit by black frost may trigger food shortage, farmers' organisation warns

Black frost hit crops in South Africa’s northernmost Limpopo province, with a key farmers’ organisation warning of looming food shortages in the region. Potato, tomato and many other vegetables... 

British Columbia Premier walks tightrope between resource boom, green goals

British Columbia Premier David Eby sees a way for his province to exploit its abundant resources and proximity to Asia — without sacrificing environmental pledges core to his political platform.... 

Indonesia says US must invest as critical minerals race picks up

Developed nations such as the US need to invest in countries with vast reserves of critical minerals to reduce supply chain risks as these commodities are “the new oil” driving geopolitics,... 

Indonesia gold mine landslide kills at least eight

A landslide at a small gold mine in Indonesia has left at least eight dead and dozens more missing, Kompas newspaper reported on Monday, citing the search and rescue agency. Heavy rain triggered a... 

Boeing to plead guilty to fraud for violating deal over 737 Max crashes

Boeing has agreed to plead guilty to criminal conspiracy to defraud the US after the Justice Department concluded the planemaker failed to adhere to an earlier settlement stemming from two fatal... 

Maersk warns of extreme weather delays along South African coast

AP Moller-Maersk has warned that extreme weather conditions and a storm surge lashing the South African coast are expected to cause shipping delays. An intense cold front bringing snow to some... 

Canada’s move to protect mining sector shields takeover targets

Canada is making it harder for foreign firms to acquire domestic mining companies by imposing measures that could protect top takeover targets from large global rivals. The Canadian government... 

Santos boss is racing against time to build a gas giant

Kevin Gallagher is in a race against time. A veteran of Australia’s oil and gas industry, the Scotsman has earned acclaim for transforming Santos Ltd into the country’s second-largest fossil fuel... 

Eramet and Huayou explore EV nickel partnership in Indonesia

French miner Eramet is exploring a partnership with Zhejiang Huayou Cobalt to produce battery-grade nickel in Indonesia after a similar project with a European partner fell through last month.... 

South Africa inflation expectations dip before rate decision

South African inflation expectations for the next two years declined, signalling progress in the central bank’s efforts to rein them in before its policy meeting later this month. Average inflation... 

Australian coal stocks rally on Anglo American mine explosion

Australian coal stocks are headed for their best week in years after a fire shut down one of country’s major mines, with Morgan Stanley seeing further upside for the commodity. Whitehaven Coal is... 

Cyanide spill detected near Victoria Gold’s Eagle mine in Yukon

Canada’s Yukon Territory said elevated levels of cyanide were detected in a waterway near Victoria Gold’s Eagle Mine after an equipment failure and landslide at the site. Yukon Mining Minister... 

Iron-ore hits highest in month on hopes China’s demand improving

Iron-ore touched its highest in nearly a month as traders bet on a modest improvement for China’s steel market. Futures in Singapore rose the previous four trading days and are up more than 6%... 

LME to suspend deliveries of nickel from Norilsk Finland plant

The London Metal Exchange is suspending deliveries of nickel from a plant in Finland owned by Russia’s MMC Norilsk Nickel, whose products have continued to be deliverable despite western sanctions... 

Venture capital sought to fund atomic rhino poaching deterrent

A South African startup that’s promoting the use of implanted radioactive pellets to deter the poaching of endangered animals such as rhinos is seeking venture capital support to roll out the... 

SAA to add 64% new destinations as it rebuilds

South African Airways (SAA) plans to add 64% new destination from its hub in Johannesburg by the end of April as it rebuilds its business to focus on regional and international routes after a deal... 

A rare South African export success is threatened by crumbling ports

At a packhouse at Blydevallei Boerdery, near South Africa’s eastern border with Mozambique, workers pluck unripe grapefruit off a conveyor belt. It’s the best chance of getting them to export... 

Vale picks mining veteran to lead base metals turnaround

Vale has selected veteran mining executive Shaun Usmar to take the helm of its base metals division as the Brazilian metals producer seeks to boost copper and nickel production, according to people... 

Glencore said to withdraw Kazzinc sale after offers fall short

Glencore has abandoned plans to sell its stake in Kazakh mining company Kazzinc after potential buyers failed to match its valuation, people familiar with the situation said. Glencore had been... 

Congo sells its own copper from joint ventures for first time

The Democratic Republic of Congo’s (DRC's) State miner has started selling its share of copper from joint-venture projects for the first time as the country seeks greater control over a metal key... 

South Africa seeks to renegotiate coal pact tied to $2.6bn

South Africa is seeking to alter the terms of a landmark agreement under which it promised to cut its reliance on coal in exchange for access to financing. The government of President Cyril... 

Anglo considers options to sell coal assets after Australia fire

Anglo American is considering options to push ahead with a sale of its coal business after an explosion at its flagship Australian mine, including the possibility of selling individual assets or... 

BASF pulls plug on potential Chile investments amid lithium rout

German chemicals giant BASF has abandoned plans to invest in lithium mining assets in Chile as a slowdown in electric-vehicle adoption worldwide drags down battery metal prices. BASF withdrew from... 

TotalEnergies plans to exit South African offshore gas finds

TotalEnergies plans to exit its discoveries of gas-condensate off the tip of South Africa to prioritize exploration in other areas closer to Namibia, according to people familiar with the matter.... 

Kganyago welcomes Godongwana's reappointment as Finance Minister

South African central bank Governor Lesetja Kganyago welcomed the reappointment of Finance Minister Enoch Godongwana in the new coalition cabinet unveiled by the president this week. “We still have... 

Endeavour studying spill from Côte d'Ivoire operation

Endeavour Mining says it’s studying the damage from the leak of poisonous liquid at its second-biggest mine located in southern Côte d'Ivoire. Early reports show that a broken valve leaked 3 000... 

Hedge funds are hoarding cobalt amid battery metal slump

Hedge funds including Anchorage Capital Advisors and Squarepoint Capital have been building positions in cobalt by buying up physical material, as tumbling spot prices and a more liquid futures... 

Argentina is about to unleash a wave of lithium in a global glut

For all the money that’s poured into Argentina’s giant lithium deposits, the country has seen just one new mine come on stream in almost a decade. That’s about to change. Four new projects will... 

Copper supply gets a boost as Chile shows signs of recovery

Copper production in Chile, the world’s biggest supplier of the wiring metal, is showing signs of recovering from 20-year lows. Output in May was the highest this year, rising more than 8%... 

Nutrien says ‘black swan’ jolts are finally easing

The world’s biggest maker of crop nutrients said fertiliser demand is just now starting to stabilise from seismic shocks of the past few years that left the company with wild profit swings. “We’re... 

South Africa opposition makes debut in Ramaphosa’s unity Cabinet

South African President Cyril Ramaphosa announced his new Cabinet, allocating ministerial posts to opposition politicians while retaining close ally Enoch Godongwana as finance minister. The... 

Lundin weighs sale of zinc mines in Sweden and Portugal

Lundin Mining Corp is considering a potential sale of two European zinc mines as the Canadian metals producer turns its focus to copper in Latin America, according to people familiar with the... 

Exxon backs EV demand growth to turn its lithium bet into a win

Exxon Mobil said lithium demand will grow despite a years-long slump in prices, a scenario that would help its traditional oil business co-exist with a foray into producing the battery material... 

South Africa achieves first primary budget surplus in 15 years

South Africa achieved its first primary budget surplus in 15 years as it took a stern approach to funding State-owned companies that have drained government finances. Africa’s most-industrialised... 

Sibanye ‘will have to’ shutter US mine unless palladium recovers

Sibanye Stillwater will be forced to halt operations at its Montana palladium mine if prices don’t recover soon, according to CEO Neal Froneman. “The future of Stillwater remains in the balance,”... 

Trafigura clinches share of major zinc deal snubbed by Glencore

Production from a large new zinc mine in the Democratic Republic of Congo will be split between several new buyers including trading giant Trafigura Group, after rival Glencore backed away from a...