Mantashe, Sibanye-Stillwater clash over US minerals plan

A proposal by South Africa’s biggest mining company and other business leaders advising President Cyril Ramaphosa on how to offer the US access to Africa’s critical minerals angered the nation’s... 

South Africa plans jail time, fines under new emissions rules

South Africa will seek jail time, fines and higher taxes for breaches of proposed rules to govern carbon emissions that will apply to almost all sectors of the economy. The proposed regulations,... 

Copper rises as Chile stoppage stirs fresh concerns about supply

Copper rose for a second day as Chilean mining giant Codelco grappled with the aftermath of a deadly accident at one of the world’s biggest underground mines. Six people were killed in a tunnel... 

Greer says US-China talks 'about halfway there' on rare earths

US Trade Representative Jamieson Greer sounded a cautiously optimistic note on discussions with China on rare earth flows, following trade talks that further steadied ties between the economies.... 

Vale says ERG Brazil mine investment still not adding up

Top iron-ore producer Vale continues to weigh an investment in Eurasian Resources Group’s Brazilian mine project, but says it has not yet found a cost-effective way to develop it. “The volume of... 

Most South African small firms at risk of collapse, survey finds

More than half South Africa’s small businesses don’t expect to survive for more than a year, a survey backed by lender Absa Group found. Some 53% of the 1 600 entities canvassed for the inaugural... 

Copper ‘lotto tickets’ pay off after Trump shrinks from tariffs

Options traders who bet the Trump administration would renege on its promise to tariff raw copper imports are cashing in big. On Wednesday evening, more than 31 000 contracts went from... 

The world's biggest iron-ore windfall is fading for Australia

Flying deep into the heart of Western Australia, Rio Tinto Group executives, politicians and media step off a chartered jet into a Pilbara airport, little more than a sunbaked shed with metal... 

Vedanta misses quarterly profit estimates on weak aluminium prices

Indian metals-to-oil conglomerate Vedanta missed quarterly profit estimates on Thursday, as lower aluminium and copper prices and higher tax expenses overshadowed the impact of strong local... 

South Africa urged to sweeten US trade deal before tariff deadline

The US urged South Africa to improve its trade offer as Pretoria waits to hear what tariff US President Donald Trump will impose on its exports to the world’s largest economy. South Africa hopes to... 

Lithium miners sound alarm as EV struggles pile on pressure

A slew of corporate reports from Australian lithium producers has thrown a fresh spotlight this week on an industry riven by write-downs, cost controls and hard choices as the world’s... 

South Africa set to cut interest rates as tariff details awaited

The South African Reserve Bank (SARB) is poised to extend its longest easing cycle since 2019 on the eve of stiffer US trade tariffs, which are likely to weigh on the country’s already sluggish... 

Bain shuts scandal-tainted South African consulting business

Bain & Co. is closing down its consultancy business in Johannesburg, likely bringing to an end a years-long battle to try and restore its reputation in Africa’s biggest economy following a 2022... 

Fidelity says $4 000 gold possible as Fed cuts and dollar drops

Gold could hit $4 000/oz by the end of next year as the Federal Reserve lowers interest rates to cushion the US economy, the dollar drops, and central banks keep expanding holdings, according to... 

Karpowership plans floating data centers to meet AI demand

Karpowership, a Turkish company that builds floating power plants, is expanding into waterborne data centers in a bet they’ll be faster to build than onshore hubs as demand from artificial... 

Bank of America sees South African inflation target by end of 2027

South Africa’s move to a lower 3% inflation target may be phased in by the end of 2027, potentially resulting in official interest rates moderating to below 6%, Bank of America said. “We think... 

Three miners freed from Newmont mine after 60 hours underground

Three miners who were trapped behind fallen debris at a Canadian gold mine are safely back on the surface after what Newmont called a “meticulously executed” rescue plan. Three Hy-Tech Drilling... 

Treasury seeks to supplement FX borrowing programme

National Treasury invited proposals on “innovative and cost-efficient” ways to supplement the government’s foreign-currency borrowing programme in the current fiscal year. The initiative is aimed... 

Congo is targeting cobalt price that boosts local processing

The Democratic Republic of Congo is seeking a cobalt price that encourages domestic processing, as the government considers its next steps to follow a ban on exports of the battery metal, according... 

Prasa, union reach wage deal

The Passenger Rail Agency of South Africa and its key union reached a wage agreement that will see a 5.5% increase in workers’ pay across the board. The United National Transport Union and Prasa... 

Latest Teck setbacks in Chile underscore copper supply struggles

Teck Resources’ lowered production guidance for its flagship Chilean mine in the latest setback to the Canadian company’s efforts to join the copper big leagues. The sprawling Quebrada Blanca... 

Six university students drown at Zhongjin gold mine in China

Six students from a Chinese university died during a visit to a mine owned by Zhongjin Gold in Inner Mongolia, northern China. The students from Northeastern University in Shenyang, Liaoning... 

Goldman, Investec see room for three S Africa rate cuts in 2025

South Africa’s tame inflation has created room for the central bank to cut interest rates at each of its three remaining meetings this year, according to Goldman Sachs and Investec Bank. Annual... 

South Africa’s TARS is taking a chainsaw to wasteful spending

South Africa is unleashing its own version of the US Department of Government Efficiency, or DOGE, to cut programs deemed as wasteful or not aligned with government policy. A mechanism called... 

South Africa to amend Budget process after political wrangling

South Africa’s National Treasury plans to revamp its 2026 budget-preparation process after political wrangling saw this year’s proposal altered twice. “South Africa’s current budget process has not... 

Glencore to shut Australian copper mines with smelter on brink

Glencore is on track to close its last two copper mines in Mt Isa, Queensland, next week, ahead of a decision on whether to also shutter a smelter at the same complex. A shutdown of the mines –... 

South Africa inflation hits four-month high before rate meeting

South African inflation quickened to a four-month high in June, complicating the central bank’s task as it prepares to review interest rates. Consumer prices rose 3% from a year earlier, compared... 

Platinum market’s ‘deep’ tightness shows little sign of relief

The platinum market has tightened to unprecedented levels in the past few days as tariff fears and speculative buying pull metal from the key London and Zurich markets into warehouses in the US and... 

Rare-earth miner Aclara seeks state funding for US-Brazil plans

Aclara Resources is in talks with US government agencies for possible financing toward its $1.5-billion plan to mine rare earths in Latin America and develop processing facilities in the US. The... 

Copper-laden ships race to reach US ahead of Trump’s 50% tariffs

At least four ships carrying copper are trying to reach US ports before August to get ahead of planned import tariffs on the metal. The shipments represent the final scramble by merchants to cash... 

South Africa Roads Agency on verge of accessing Brics bank loan

South Africa’s National Roads Agency expects to be able to access a R7-billion loan from the New Development Bank soon and plans to use the money to upgrade key transportation routes. “The state... 

Mozambique’s Maputo port sees sharp drop in volumes after unrest

Mozambique’s Maputo port suffered a steep drop in shipments during the first half of the year amid trade uncertainties and social unrest, according to the company that runs its operations. The... 

Seabed regulators will scrutinise mining firms seeking US licences

A United Nations-affiliated organisation with jurisdiction over the global seabed took a tentative step Monday to respond to US President Donald Trump’s fast-tracking of deep-sea mining for... 

Buti Manamela to replace Nkabane as higher education Minister

President Cyril Ramaphosa fired Higher Education and Training Minister Nobuhle Nkabane, who is facing accusations that she misled parliament, eight days after he suspended a close cabinet ally for... 

Brazilian miners warned of potential $1bn in tariff pain

The Brazilian mining industry is warning of dire economic consequences if the government resorts to reciprocal tariffs in retaliation for US President Donald Trump’s threatened 50% levy starting... 

Trump's critical minerals obsession reignites deep-sea mining

The leader of one of the most aggressive seabed mining startups spent years invoking global warming to spark interest in extracting avocado-sized rocks rich in electric-vehicle battery metals from... 

Russian precious metals sales to China hit $1bn

Russian precious metals exports to China almost doubled in the first half of the year, as record gold prices boost revenue. Chinese imports of Russian precious metal ores and concentrates,... 

Mozambique’s $6.4bn hydropower plan to get World Bank funding

Mozambique won World Bank backing for its plan to build Southern Africa’s biggest hydropower plant in half a century. The lender plans to provide debt and equity funding as well as risk guarantees... 

Alcoa CEO says Trump tariffs force a pause for Canada growth projects

Alcoa, the storied US metals producer, is feeling the pinch of President Donald Trump’s tariffs and has been forced to pause work on all its growth projects underway in Canada. If the levies stay... 

South Africa moves closer to exiting dirty-money list in October

South Africa is edging closer to leaving a global financial watchdog’s so-called gray list in October, with a team of assessors scheduled to visit the nation this month. The Financial Action Task...