Mubadala, Trafigura hire UBS BB and Goldman Sachs to sell Brazil port, sources say

Mubadala Capital and commodities trader Trafigura have hired UBS BB and Goldman Sachs to help sell a Brazilian iron-ore port they bought a decade ago from former oil and mining tycoon Eike Batista,... 

Fortescue shares slump to 21-month low on $1.24bn discounted block trade

Shares of Australia's Fortescue fell more than 9% on Tuesday to hit their lowest levels in 21 months, after stocks worth A$1.9-billion ($1.24-billion) were sold in a discounted block trade... 

Rio Tinto iced out by investor advocate ACCR over climate stance

An Australian shareholder advocacy group said it would no longer engage with Rio Tinto after the miner lobbied the Australian government to remove a reference to climate change impacts in impending... 

Saudi Arabia sees lithium investment options in Chile

Saudi Arabia's Manara Minerals is looking at opportunities to invest in lithium production in Chile, mining minister Bandar Alkhorayaf said on Monday during a visit to the South American country.... 

Uranium contract prices soar on uncertain supply, AI-led power demand

Long-term uranium contract prices have hit over 16-year highs on supply uncertainty and higher demand from utilities scrambling to secure the radioactive fuel to aggressively expand their capacity... 

Russia's Nornickel sticks to production outlook despite furnace repairs

Russia's Nornickel, the world's largest producer of palladium and a major producer of refined nickel, reported on Monday a 1% drop in nickel output for the first half of the year, but kept its 2024... 

South Africa steps up fight to contain oil spill from grounded ship

More equipment is being mobilised to contain an oil spill from the ship Ultra Galaxy, which ran aground on South Africa's west coast and started to break up in stormy weather, authorities said on... 

Union at BHP's Escondida mine urges rejection of contract offer, strike possible

The union at BHP's Escondida mine in Chile, the world's largest copper mine, has called on its nearly 2 400 members to reject a final contract offer from the company and prepare for a strike, the... 

Vale on track to hit top end of iron-ore guidance, upbeat on China

Brazilian miner Vale is confident it will manage to meet the top end of its outlook for iron ore production in 2024, which stands between 310 million and 320 million metric tons, chief executive... 

Tianqi appeals Chile ruling on SQM-Codelco lithium deal

Chinese lithium miner Tianqi has appealed a ruling by Chilean financial regulator CMF that shareholder approval is not needed to proceed with a major tie-up set to boost state control over the... 

Boss Energy withdraws bid for ERA's Jabiluka uranium site

Boss Energy has withdrawn an offer to buy Energy Resources of Australia's ERA.AX Jabiluka uranium site in the Northern Territory, after a federal government decision to not renew the mine lease,... 

Jabiluka uranium mine to close after Australia rejects bid from Rio Tinto unit

Energy Resources of Australia said on Friday the Northern Territory government has rejected its request to renew the uranium mining lease for the Jabiluka deposit. The company, in which Rio Tinto... 

Angola's new Cabinda refinery to start up later this year – CEO

Angola’s new Cabinda crude oil refinery is on track to start up later this year before ramping up to full first phase production of 30,000 barrels a day by July next year, the plant’s Chief... 

Vale says Q2 net profit triples, iron-ore sales up

Brazilian miner Vale, one of the world's largest iron-ore producers, said on Thursday its second-quarter net profit soared to $2.77-billion, triple the year-earlier period and above analyst... 

Rio Tinto, BYD and LG Energy show interest in Chile's Altoandinos lithium site

Twelve companies including global miner Rio Tinto and Chinese electric vehicle maker BYD have submitted proposals to extract lithium in Chile's Altoandinos salt flats, the state mining company... 

Eramet lifts profit outlook on manganese rally, says nickel market tough

Eramet raised its outlook for full-year core earnings on Thursday due to a jump in manganese prices, though the French miner expected the nickel market to remain tough after it contributed to a... 

First Quantum copper mine not on government agenda this year, Panama's Mulino says

Panamanian President Jose Raul Mulino said on Thursday the government will not address issues around a major shuttered First Quantum copper mine until the early 2025. The lucrative Cobre Panama... 

Brazil government mulls 'tougher measures and sanctions' on Vale, Minister says

Brazil's government could apply "tougher measures and sanctions" on Vale to combat the mining giant's "arrogant" stance towards the country, Mines and Energy Minister Alexandre Silveira told... 

Newmont beats profit estimates on higher gold production

Newmont beat Wall Street estimates for second-quarter profit on Wednesday, as the world's biggest gold miner benefited from robust production and higher prices. The company also said it would sell... 

Chile's lower house of Congress asks Boric to void Codelco-SQM deal

hile's lower house of Congress approved a resolution asking President Gabriel Boric to annul an agreement between state copper company Codelco and Chilean miner SQM that would give Codelco a... 

Fortescue to step up energy spending despite job cuts

ustralia's Fortescue said on Thursday it will increase spending on its energy division to advance several new green hydrogen projects next year, disappointing analysts who had expected a company... 

Teck beats second-quarter profit estimates, cuts copper guidance

Canadian miner Teck Resources beat second-quarter profit estimates on Wednesday, on the back of higher production volume from its Quebrada Blanca copper mine in Chile and increase in prices of the... 

Anglo to face investors with wary eye on BHP's potential return

Anglo American investors will keenly scrutinize CEO Duncan Wanblad on Thursday as he gives an update on the London-based miner's strategy, just months after fighting off a $49-billion takeover bid... 

Canada's TMC to apply for deep-sea mining licence this year, CEO says

Canada's The Metals Company (TMC) plans to apply for a licence to extract minerals from the ocean floor before the end of this year, its chief executive told Reuters, as nations gather in Jamaica... 

Gold rally to boost profits for miners Newmont, Barrick

Newmont and Barrick Gold, the top two gold miners of the world, are expected to post higher quarterly profits, powered by a rally in the precious metal's prices. Rising hopes of a US interest rate... 

Botswana proposes law for locals to acquire 24% stakes in mines

Botswana is proposing a law that will ask mining companies, once granted a licence, to sell a 24% stake in mines to locals if the government does not exercise its option to acquire the... 

BHP must stop funding legal action to halt Mariana dam claim, court rules

BHP Group must stop funding legal action seeking to halt some Brazilian municipalities from bringing a multi-billion pound claim over one of Brazil's worst environmental disasters, London's High... 

Codelco obtains $532m in climate financing

Chilean State miner Codelco, one of the world's largest copper producers, said on Tuesday it has obtained $532-million in climate financing authorised by french bank Credit Agricole CIB. The funds... 

Freeport McMoran plans $7.5bn investment to expand Chile copper mine

US miner Freeport McMoran plans to invest around $7.5-billion to expand its El Abra copper mine in Chile, a project expected to take seven to eight years to develop due to permitting requirements,... 

First Quantum says Jiangxi can nominate one person to board

First Quantum Minerals said on Tuesday that Jiangxi Copper will have the right to nominate one person to the Canadian miner's board as the company looks to keep its biggest shareholder at arm's... 

Freeport-McMoran beats second-quarter profit estimates on higher copper prices

Miner Freeport-McMoran beat second-quarter profit estimates on Tuesday, as higher copper prices offset lower production. Shares of the company rose 2.4% to $47.12 in premarket trading. 

Copper prices, output drive Grupo Mexico profit jump

Mining and transport conglomerate Grupo Mexico reported a 34% increase in second-quarter net profit on Monday, fueled by higher copper prices and mining output. Net profit of $1.122-billion topped... 

Australia announces new offshore gas exploration permits to plug supply gaps

Australia on Tuesday announced new offshore gas exploration permits for its east and west coast markets in a bid to ease concerns over long-term supply gaps as the country moves rapidly away from... 

Rio Tinto class action over Bougainville mine damage set for October hearing

The first hearing date has been set in a class action against miner Rio Tinto RIO.AX for historical environmental and social damage caused by the Bougainville copper mine in Papua New Guinea that... 

Ramaphosa signs law allowing savers access to pension funds

President Cyril Ramaphosa signed a law that will give savers early access to part of their retirement funds. The president’s assent of the Revenue Laws Amendment Act establishes a so-called two-pot... 

Saudi Arabia to visit Brazil and lithium power Chile as seeks to diversify

Saudi Arabia's mining minister will visit Brazil and Chile over the coming two weeks, the ministry said on Sunday, as the world's leading oil exporter seeks to expand its international presence in... 

Indonesia launches nickel, tin online tracking system

Indonesia launched on Monday an online system to track movements of nickel and tin from mines to domestic processing facilities to improve accountability and government revenue, authorities said.... 

Western miners push for higher metals prices to ward off Chinese rivals

The only US cobalt mine sits fallow in the northern Idaho woods, a mothballed hunk of steel and dirt that is too expensive for its owner to operate because Chinese rivals have flooded global... 

Woodside to buy US LNG developer Tellurian for $1.2bn

Australia's Woodside Energy said on Monday it had agreed to buy US liquefied natural gas developer Tellurian, including its US Gulf Coast Driftwood LNG export project, for $1.2-billion including... 

Singapore's GEAR secures $850m for South32's Australian coking coal - sources

A consortium led by Singapore's Golden Energy and Resources (GEAR) has secured $850-million to buy South32's Australian coking coal assets, two sources told Reuters, as private credit continues to...