Freeport asks Indonesia for copper export extension due to fire

Freeport-McMoRan is in talks with the Indonesian government to extend its licenses to export copper concentrate because a fire has disrupted the company’s smelter operations in the Southeast Asian... 

South Africa inflation seen edging below 4% fuels rate cut bets

South Africa’s inflation rate is expected to fall below 4% for the first time in more than three years in September, sealing the case for borrowing costs to be lowered again next month. The median... 

Brazil seeks to woo partners in revived ambition to uncover uranium riches

Brazil is looking to attract mining companies to help revive the country’s uranium exploration and production efforts as the world signals renewed appetite for nuclear power. Latin America’s... 

First Quantum names Jiangxi’s Xia to board after standstill deal

First Quantum Minerals appointed Jiangxi Copper Co’s Hanjun Xia to its board of directors after reaching a standstill agreement with its second-largest shareholder earlier this year. The Canadian... 

South Africa is still tapping oil stockpile to fund fuel subsidy

South Africa is still selling oil from strategic stockpiles to fund measures introduced two years ago to cushion consumers from a spike in road fuel prices. The Strategic Fuel Fund Association paid... 

Türkiye eyes Niger mining projects amid competition for uranium

Türkiye and Niger signed a provisional pact to boost cooperation in mining, a sign of closer ties between the countries as new powers jostle for access to the West African nation’s uranium... 

Zambia pursues deals with investors to develop mining permits

Zambia plans to develop dozens of mining licenses together with investors to boost copper output in Africa’s second-biggest producer. The nation has an ambitious plan to more than quadruple... 

Congo’s State miner bids for Trafigura-backed cobalt projects

Democratic Republic of Congo’s (DRC's) State-owned miner has submitted a bid for Chemaf Resources’ unit in the country, months after saying it intended to block a previous deal to sell the copper... 

Mozambique police shoot two as Gemfields ruby mine is stormed

About 300 people invaded a pit at the Montepuez ruby mine owned by Gemfields Group in northeastern Mozambique on Sunday, CEO Sean Gilbertson said. Two people were shot by police, he said. A crowd... 

JPMorgan expects South Africa IPO surge on economic optimism

South Africa is poised for a surge in initial public offerings and fund-raising activity as soon as next year, spurred by optimism that the continent’s biggest economy may be turning a corner after... 

China’s steel demand has shrunk to less than half global total

China will account for less than half of global steel consumption in 2024 for the first time in six years, according to the World Steel Association, as the decline in the country’s real estate... 

Vale-BHP mine disaster deal moves closer to settlement in Brazil

Miners Vale and BHP are a step closer to finalising a deal with Brazilian authorities to provide a multibillion-dollar settlement for one of the country’s worst mining disasters. Ongoing... 

Mineral Resources says it's investigating founder over tax issue

Australia’s Mineral Resources is probing payments linked to founder and MD Chris Ellison, even as the board said it has full confidence in him and his leadership. “Since its IPO in 2006, payments... 

Biggest companies to help resolve South African water crisis

South Africa’s biggest companies are exploring widening a partnership with the government to help resolve a water crisis that’s threatening to leave the nation’s commercial hub dry. Business for... 

Indonesia controls nickel ore supply to balance weak demand

Indonesia is managing the amount of nickel ore its miners produce in order to balance supply and demand, a government minister said. “We need to maintain supply and demand balance,” Bahlil... 

Sasol’s gas supply and volatile oil raise sustainability risks

Sasol’s declining gas reserves and its susceptibility to volatile oil prices is drawing scrutiny over the sustainability of the business and its plans to reduce emissions. The South African fuel... 

Spot gold tops $2 700 as metal extends its record-breaking run

Gold topped $2 700 an ounce for the first time, as an escalating conflict in the Middle East saw traders flock to safety. Bullion reached climbed as much as 0.3% to $2 700.47/oz, after Israel said... 

Gold rallies to record with tight US election and data in focus

Gold climbed to a record ahead of US data prints due later Thursday, with traders also monitoring an increasingly tight presidential race that’s driven demand for haven assets. Bullion climbed as... 

Iron-ore slumps toward $100 after housing briefing in Beijing

Iron-ore tumbled to a three-week low, a sign that investors doubt whether China’s latest moves to shore up the property market will do enough to boost construction activity and steel demand. China... 

Brazil reviews caves decree in potential boon for mining and energy

Brazil is revisiting rules that protect caverns from exploration and development with measures that could help advance energy projects and boost Vale’s iron-ore prospects in the country. “It’s a... 

GM backs biggest US lithium project with $625m investment

General Motors will commit $625-million toward what’s likely to be one of the biggest US lithium mines, reinforcing the automaker’s efforts to secure domestic supply of the battery metal critical... 

Gold nears fresh record with focus on US election and Fed rates

Gold rallied toward a fresh record high as investors turned their attention to the upcoming US election, with polls forecasting a razor-thin contest with less than three weeks to go. The precious... 

South Africa, Namibia in talks to resolve discord over key river

South Africa and Namibia held talks aimed at resolving a long-running disagreement over rights to the Orange river, a key water source that demarcates the border between the two nations, and were... 

Total set to back Mozambique LNG terminal to boost gas imports

TotalEnergies aims to next year approve an import terminal for liquefied natural gas in Mozambique that may help users in neighboring South Africa avoid a potential supply crisis. Gas shipments may... 

Namibia says it needs up to $1.4bn for water security

Namibia requires as much as N$25-billion ($1.4-billion) over the next decade to fulfil water-security requirements, its water minister said. The semi-arid nation of about 3-million people also... 

Global public debt to hit $100tr by end of 2024, IMF Says

Global public debt is set to reach $100-trillion, or 93% of global gross domestic product, by the end of this year, driven by the US and China, according to new analysis by the International... 

Mosaic expects Florida facilities to return to full production soon

Fertiliser maker Mosaic said on Monday that its Florida facilities are expected to return to full production capacity over the coming days after being idled due to Hurricane Milton. Milton, which... 

Australia’s largest pension says China boom times have finished

China’s latest bout of stimulus may help stabilise the country’s property crisis but investors should position for the end of the economy’s boom years, says the investment chief of Australia’s... 

South Africa’s rising fuel imports cause supply shortage risk

South Africa’s rapid switch to become a net importer of fuel creates supply risks requiring infrastructure to store and transport the fuel, according to State-owned logistics firm Transnet.... 

Philippines’ top coal producer plans $5bn mine expansion

Semirara Mining and Power, the Philippines’ largest coal producer, said it’s looking to spend 291.4-billion pesos ($5.07-billion) to expand its mines. The company has proposed to the Department of... 

Exxaro seeks to acquire manganese mining assets

Exxaro Resources, one of South Africa’s biggest coal producers, wants to become a major player in the country’s manganese mining industry. After losing out on a copper mine in Botswana last year,... 

Rio takes step toward M&A redemption with $6.7bn lithium bet

A little over a decade ago, Rio Tinto Group was reeling from the impact of disastrous investments. First, the bruising top-of-the-market purchase of aluminum group Alcan, and then the ill-conceived... 

French firm boosts uranium mining and enrichment capacities as market tightens

France’s Orano is boosting uranium mining and processing capacity as supplies of the nuclear fuel tighten on stronger demand and moves to reduce the world’s reliance on Russia. The... 

JPMorgan says European miners underpricing US election risk

European mining stocks could see their valuations fall by as much as 20% if US tariffs are imposed following next month’s election, and the industrial metals market is underpricing this... 

Alumina surges to record on supply disruptions and China demand

Alumina futures in Shanghai spiked to a record as global supply disruptions and resilient Chinese demand continue to tighten the market of the main feedstock for aluminum smelters. Alumina surged... 

South Africa power-line rollout set to spur bond market revival

A multibillion-dollar plan to expand South Africa’s electricity transmission network could throw a lifeline to the country’s corporate bond market as it struggles to recover from a post-pandemic... 

Kganyago sees South African inflation dip creating policy space

South African Reserve Bank Governor Lesetja Kganyago said inflation could fall below 4% in coming months, creating more room for action after officials cut interest rates in September. ‘We expect... 

Zambia will own some mining permits after mapping exercise

Zambia’s government intends to keep ownership of some mining licenCes that are shown to be promising by an ongoing mapping exercise and invite private investors to develop the assets alongside the... 

China’s top miner to spend $24bn on coal-to-oil project

China’s biggest coal miner announced the construction this week of another massive project to supply feedstock for petrochemicals makers and help clear a prospective surplus of the fossil fuel.... 

Canada green taxonomy unlikely to include new natural gas sites

Canada has provided more clarity on what it considers to be homegrown green investments — with new natural gas projects unlikely to make the cut. On Wednesday, Finance Minister Chrystia Freeland...