Trafigura prepays $200m to snap up Ivanhoe’s Congo copper

Trafigura Group agreed to pay $200-million for copper anodes from an Ivanhoe Mines smelter in the Democratic Republic of Congo that’s due to start up in September. Trafigura signed the prepayment... 

Australia’s Albanese heads to China as Trump stresses alliance

Australian Prime Minister Anthony Albanese plans to travel to China from this weekend, seeking to strengthen ties with his country’s largest trading partner while its top security ally US aims to... 

Banks plough billions into coal ‘as if Glasgow never happened’

Global banks channeled more than $385-billion to the coal power industry over the past three years, with annual flows increasing last year from 2023, according to analysis by a group of nonprofits.... 

Gold miner Aura Minerals seeks $210m US listing

Aura Minerals is seeking to raise about $210-million in a US listing, as the gold and copper miner looks to expand its investor base. The company, which already trades on exchanges in Canada and... 

US warns of blackout risk from killing coal as Trump snubs renewables

Blackouts in the US could double by 2030 amid an expected increase in power demand brought on by AI, according to a Trump administration report that blames the expected energy shortfall on the... 

Mexico criminals rob truck full of gold, silver concentrate

Armed thieves robbed a truck carrying 33 tons of gold and silver concentrate belonging to Grupo Minero Bacis, costing the company millions of dollars in losses. Assailants blocked the semi-truck... 

Trump sets Aug 1 start for tariffs ahead of Wednesday deadline

US President Donald Trump plans to announce trade deals and deliver tariff warnings on Monday, as countries negotiated through the weekend to avoid the highest punitive measures on their exports to... 

JPMorgan, Goldman Sachs see more upside for South African stocks

South African stocks are poised to extend their rally in the second half, buoyed by an improving outlook for the domestic economy and supportive monetary policy, according to JPMorgan Chase & Co.... 

Trump tariffs sour the fortunes of South Africa’s citrus farmers

Walk down the aisles of a Trader Joe’s or Whole Foods Market in the US, and chances are many of the piles of oranges, lemons, limes and grapefruit will be labelled “Produce of South Africa.” They... 

Iron-ore gets second weekly boost on hopes of supply-side reform

Iron-ore headed toward the highest close since May as China’s renewed focus on supply-side reform lifted expectations for the country’s steel market. Futures of the steel-making ingredient were on... 

Copper snags in Peru highlight rising clout of informal miners

Copper transport disruptions this week in Peru underscore the growing impact of informal mining on global mining corporations that operate in the Andean nation. Frustrated by regulatory... 

Gold set for weekly gain as investors weigh rates, trade impact

Gold remained on track for a weekly gain despite falling on Thursday, as investors weighed lower odds for Federal Reserve interest-rate cuts as well as lingering concerns about the outlook for... 

Canada goods trade deficit narrows on higher gold shipments

Canada’s share of exports destined for the US shrank to the smallest proportion since at least 1997, excluding the Covid pandemic. Shipments to other countries reached a new high, led by gold... 

Gold’s record rally ignites fundraising spree for China miners

A wave of Chinese gold miners is pushing to raise funds in Hong Kong, seeking to capitalise on rising investor interest in the metal during a record-setting rally that’s made it a standout... 

Mineral smuggling from Congo to Rwanda at ‘unprecedented levels’, UN says

Mineral smuggling from eastern Democratic Republic of Congo into neighbouring Rwanda has reached “unprecedented levels” amid the occupation of a large swath of the region by Rwanda-backed M23... 

Rio Tinto-backed aluminium firm to invest $1.1bn in Canada project

Aluminerie Alouette, an aluminium maker that’s partially owned by Rio Tinto, is planning to commit as much as C$1.5-billion ($1.1-billion) to modernising its facilities in northern Quebec,... 

AfDB cuts South Africa growth outlook by half on trade concerns

South Africa must accelerate structural reforms to offset global challenges that include US President Donald Trump’s trade war, the African Development Bank said as it cut the nation’s economic... 

Treasury warns against changing Sarb ownership

Changing the ownership structure of the South African Reserve Bank could generate fears among investors about expropriation and create more uncertainty about property rights, according to the... 

Beijing braces for US trade deals that seek to shut out China

The trade truce between Washington and Beijing may be holding for now, but China is increasingly wary about what’s happening elsewhere: US efforts to forge deals that could isolate Chinese firms... 

South Africa inflation expectations drop to near four-year low

South African inflation expectations fell to an almost four-year low, providing policymakers with another reason to press ahead with their easing cycle. Average inflation expectations two years... 

Peru copper transport disrupted as informal miners block roads

Roadblocks by informal miners are disrupting transport of copper from some mines in Peru, including those owned by MMG and Hudbay Minerals, said people briefed on the matter. Artisanal miners are... 

Vitol launches mine finance fund as competition grows for metals

Vitol Group and Breakwall Capital have formed a credit fund targeting mining companies in the Americas, as competition among traders for copper and other metals contracts heats up. Valor Mining... 

Bessent says US hopes to see China magnets flow at ‘faster rate’

Treasury Secretary Scott Bessent said the US is hopeful China will do more to ease the export of rare earth magnets after last month’s deal between the two countries, saying flows had still not... 

Gold helps Canada’s stocks benchmark outshine the S&P 500

Despite ongoing trade tensions and a weakening economy, Canada’s main stocks benchmark outshone its US counterpart in the first half thanks to a record-breaking gold rally. The S&P/TSX Composite... 

Russia base metals sales to China surge, signaling deep reliance

Russian base metals sales to China surged in the first five months of 2025, underscoring its economic dependence on its Asian neighbor even as the country seeks to diversify trade. Russian... 

Kganyago sees inflation-target work complete soon

A review of South Africa’s inflation target by the National Treasury and the nation’s central bank is close to completion, Governor Lesetja Kganyago said. “It should be very soon that it’s... 

Top cobalt trader declares force majeure after Congo export halt

The trading unit of CMOC Group — the world’s biggest producer of cobalt — has declared force majeure on deliveries of the battery metal, after the Democratic Republic of Congo extended a ban on... 

Codelco sticks to SQM lithium deadline as deal opposition mounts

Chilean State mining company Codelco is on track to finalize a landmark deal with lithium supplier SQM well before the next government takes office next year, a company official said Monday. Amid... 

Rand strengthens as South Africa’s coalition avoids collapse

South Africa’s currency gained after the nation’s fractious ruling coalition weathered its latest storm when a key partner opted to remain in the government. President Cyril Ramaphosa fired the... 

Kganyago bolsters case for lower inflation target

South African Reserve Bank Governor Lesetja Kganyago reinforced his argument for adopting a lower inflation target, noting that the current goal hurts the rand and allows prices to march higher.... 

Musk’s Starlink eyes R2bn South Africa investment

Billionaire Elon Musk’s Starlink, in a potential workaround of South Africa’s Black-empowerment rules to gain an operating license, may invest about R2-billion in the country, Business Day reported... 

First Quantum starts shipping stockpiled copper from Panama mine

First Quantum Minerals has started shipping stockpiled copper from its stalled mine in Panama, 19 months after the operation was shut down by the country’s top court. A bulk carrier called Lipsi... 

Vale’s new CEO aims to make Brazilian miner the world’s biggest

The new head of Vale has laid out one of the Brazilian company’s most ambitious goals — becoming the world’s biggest metals producer by market capitalisation. “It has to be the biggest mining... 

Australia cuts commodity export outlook despite gold price gain

Australia cut its forecast earnings from commodity exports, as a meteoric rise in gold prices fails to offset weakness in iron-ore and natural gas. Total resource and energy export earnings fell... 

Gabon, Afreximbank sign $3.8bn accord on manganese, gold

Gabon’s government signed a $3.8-billion memorandum of understanding with the African Export-Import Bank to fund the development of manganese, gold trading, energy and rail infrastructure. The... 

South African stocks poised to extend golden first-half rally

South African stocks are heading for their best first-half performance in almost two decades, and precious-metal prices could pave the way for further gains. The FTSE/JSE Africa All Share Index is... 

Wars, Trump and climate malaise: Brazil braces for a tough COP30

As climate delegates walked into Bonn’s World Conference Center on the first Monday after the US attack on Iran’s nuclear sites, they were serenaded on loudspeaker by Doris Day’s “Que Sera Sera.”... 

Ramaphosa accused of ‘double standard’ in Whitfield saga

President Cyril Ramaphosa fired a deputy minister from the second-largest party in the ruling coalition on Thursday, a move that renews strain on the stability of his administration. Ramaphosa... 

Gold heads for weekly loss as Middle East truce saps demand

Gold headed for its second consecutive weekly loss, after a ceasefire between Israel and Iran dented demand for havens. Bullion edged lower early in Asia to around $3 315 an ounce and was down... 

Informal mining boom is biggest fear for Peru's copper investors

The biggest threat to Peru tapping more of its giant copper deposits is rising informal and illegal mining activity, according to the head of the country’s main industry association, SNMPE. Peru...