South Africa to publish proposed new financial rules by year end

South Africa’s National Treasury said it is close to finalising long-awaited changes to the nation’s financial markets regulations, and plans to publish proposed amendments for comment by the end... 

Mining powerhouse Australia to tighten up exploration rules

Australia — one of the world’s most important mining nations — is planning to tighten rules that govern how companies announce their exploration results, with a revised code for listed companies... 

Gaia to raise $200m for Africa in Luxembourg climate fund

Gaia Fund Managers is raising $200-million for investment in African renewable energy plants and power grids with the assistance of Apex Group. The money will be raised through the Gaia Africa... 

The future of deep sea mining hinges on a contentious election

The Pacific island nation of Kiribati is tiny, with just 120 000 residents scattered across 32 tropical atolls, but it’s playing an outsize role in an election that will determine whether companies... 

SARB to finish R100bn transfer to Treasury soon

The South African Reserve Bank (SARB) will complete the transfer of R100-billion of profits on the nation’s gold and foreign-exchange reserves to the Treasury by mid-August, Governor Lesetja... 

Guinea’s Simandou iron-ore project seen aiding climate goal

Guinea’s giant Simandou iron-ore project, which is expected to start exports in two years’ time, is set to contribute to the world’s decarbonisation efforts, according to Rio Tinto. “With an iron... 

Chinese gold demand takes a hit with jewellery sales plunging

China’s gold demand has cracked in the face of record-high prices for the precious metal, with sales at the country’s jewelers in a funk as buyers hold off on purchases. Total demand for bullion... 

World’s top copper supplier Codelco posts drop in production

Codelco posted a decline in first-half copper production as setbacks at its Chilean mines and projects loosen the state-owned firm’s grip on the title of world’s biggest supplier of the metal.... 

Gold, not dollar, is the best Trump trade, survey shows

Gold is the best portfolio hedge in the event Donald Trump retakes the White House, according to the latest Bloomberg Markets Live Pulse survey. Proponents of the precious metal as a haven play in... 

Teck draws M&A attention from big miners in rush for copper

The world’s biggest miners are back in serious dealmaking mode and Teck Resources is taking center stage. The Canadian miner, which has exited its coal business with a sale this month to Glencore,... 

Ghana’s trade surplus grows 12.5% in first half on gold exports

Ghana’s trade surplus widened in the first half as revenue from gold exports soared. The favorable trade gap grew 12.5% from a year ago to $1.8-billion, Bank of Ghana said in a summary of economic... 

Cash-hungry Canadian miners test grey area of anti-China M&A rules

Nearly two years after Canada moved to restrict foreign investment in the country’s mining sector, minerals explorers and developers are testing the limits of those rules. The Canadian government... 

South Africa revival needs reform jumpstart, business lobby says

South Africa’s new multi-party administration must prioritise reviving State-run port, water and power networks and work to automate processes to attract investment and boost lagging growth,... 

Boeing completes US deal to plead guilty over 737 Max crashes

Boeing has completed an agreement to plead guilty to criminal conspiracy in connection with two fatal crashes of its 737 Max jetliner, setting the stage for a possible courtroom confrontation with... 

Africa offers $193bn renewables opportunity, study shows

Sub-Saharan Africa offers a $193-billion opportunity to invest in renewable energy and transmission by 2031, with returns a multiple of those in Europe and the US, according to a new study.... 

Vedanta seeks partners to develop Zambia mines it’s regaining

Vedanta Resources, the mining company that billionaire Anil Agarwal founded, is looking for business partners to boost output at the Zambian copper assets it’s regaining control of after years of... 

Toronto sees ‘win’ in first new foreign miner listing since 2022

Paladin Energy’s arrival in Canada marks the first time since 2022 that a large foreign mining company will list its shares on the Toronto Stock Exchange, which has seen new corporate listings slow... 

South African inflation slows as food and transport costs cool

South Africa’s inflation rate slowed slightly in June, touching a six-month low and potentially encouraging the central bank to consider cutting interest rates later this year. Consumer prices rose... 

African nations turn to gold to protect against currency losses

African nations are rushing to build their gold reserves to hedge against geopolitical tensions that have battered their currencies and fanned inflation. Nations from South Sudan, Zimbabwe and... 

Iron-ore sinks toward test of $100 as plenum fails to inspire

Iron-ore dropped to near the $100 a ton threshold as a policy meeting in China failed to deliver major stimulus, while supplies remained robust. The steelmaking material fell as much as 2.3% to... 

Zambia sees copper output growing to one-million tons by 2027

Zambia’s annual copper production will grow more than 40% to one-million tons in 2027, according to the country’s Finance Ministry. Africa’s second-largest copper producer is seeking to take... 

WTO members push to expedite an Okonjo-Iweala second term bid

A sizable portion of World Trade Organization (WTO) members supported a move from a group of African countries pushing for Director-General Ngozi Okonjo-Iweala to expedite a run for a second... 

Dangote to scrap steel investment over allegations of monopoly

Aliko Dangote, Africa’s richest man, is calling off plans to invest in a new steel plant in Nigeria after the government accused him of seeking to become a monopoly with his new refinery in the... 

Ratings company to serve Africa set to be ready by next year

A credit ratings company being established to meet the unique needs of Africa’s sovereign borrowers is set to be ready by next year, an African Union official said Saturday. The institution won’t... 

With no recovery in sight, lithium prices force miners to reevaluate output

With lithium prices languishing near three-year lows and showing no signs a recovery is coming, attention is now turning to whether miners will be forced to rein in supply of the battery metal.... 

Gold climbs as US election chaos escalates after Biden drops out

Gold edged higher as markets weighed President Joe Biden’s decision to end his reelection bid, which sparked fresh questions over whether the move will help or hinder Donald Trump’s chances of... 

South Africa to lay out carbon market regulation proposals

South Africa’s National Treasury plans to lay out its proposals for how to regulate carbon markets in the country in the next few months. The government department said it plans to publish a... 

Vedanta gets back Zambia copper mines after paying $246m

Vedanta Resources has paid about $246-million to creditors to regain control of the Konkola Copper Mines in Zambia after about five years. The payment paves the way for “imminent reinstatement” of... 

Panama vows to talk to First Quantum in coming months on shuttered mine

Panama’s government says it will engage with First Quantum Minerals in the coming months to discuss the environmental impact of its shuttered copper mine. Panama’s new president, who took office... 

Nornickel weighs projects in new top market China

Russia’s biggest miner MMC Norilsk Nickel is weighing several new projects in copper, nickel and palladium in China as sanctions make cross-border payments and shipments increasingly difficult.... 

Mercedes, Stellantis in talks to back Serbia’s lithium ambitions

Mercedes-Benz Group and Stellantis are in discussions with Serbia’s government to invest in lithium-processing and EV battery production, potentially adding fresh support for what may become... 

Paladin Energy aims to crack uranium big league with Canadian takeover

Paladin Energy’s top boss says its takeover of Fission Uranium Corp would make it the third-largest publicly traded uranium producer, offering investors an alternative in a sector dominated by two... 

Fortescue hits brakes on green hydrogen plans

Billionaire Andrew Forrest is scaling back his plans to turn Australian miner Fortescue into a green hydrogen heavyweight, blaming high energy prices for a setback that has prompted an overhaul of... 

Australia’s renewables drive backed by miners, environmentalists

A disparate group including Australian mining lobbyists and environmentalists have banded together to back the government’s renewable energy transition plan, after opposition lawmakers called for... 

Iron-ore majors ramp up supply even as China faces challenges

The world’s biggest iron-ore producers are hurling plenty of dirt, adding tons of the steel-making commodity to the seaborne market even as top user China battles a demand-sapping property crisis.... 

Germany’s Scholz plans lithium deal with Serbia after Rio ruling

German Chancellor Olaf Scholz plans to visit Serbia this week to secure supplies of lithium that are critical for the nation’s energy transition and auto industry, according to people familiar with... 

African economies seen delaying joining cycle of global easing

African central banks set to decide on interest rates in the next three weeks are unlikely to follow the tide of global easing and maintain tight monetary policies, with one exception. “The broader... 

Gold holds at record high as rate cut bets fuel demand rush

Gold hit another record as traders placed stronger bets on Federal Reserve rate cuts this year and weighed an uncertain outlook for US politics. Bullion advanced in Asia hours to touch an all-time... 

Development banks seek to revive world’s biggest power project

Five development finance institutions have banded together to find a way to develop the world’s biggest electricity-generation project, the planned Grand Inga hydropower complex in the Democratic... 

South Africa tells UK carbon border tax will deepen inequality

South Africa has told the UK that its plans to impose a carbon tax on imported goods will deepen global inequality and hamper Africa’s ability to adapt to climate change. The criticism of the...