Base metals enjoy strong week with boost from Fed, China demand

Copper surged to a two-month high to cap a strong week for metals, helped by the Federal Reserve’s half-point rate cut. Base metals have advanced with other global risk assets after Fed Chair... 

A $90bn World Bank plan to electrify Africa gets under way

A plan to bring electricity to 300-million Africans by 2030, backed by an initial pledge of $30-billion from the World Bank and the African Development Bank, has begun to be implemented with an... 

Treasury’s Guma leaves, reform unit to remain priority

South Africa’s National Treasury said its “pool of skilled and competent officials” is sufficient to ensure that the work of the unit responsible for economic-growth enhancing structural reforms... 

Gold’s record surge dampens China’s holiday shopping enthusiasm

Gold’s months-long, record-breaking surge is keeping consumers at bay in China, tarnishing what should be one of the busiest times of the year for jewelry retailers in the world’s biggest buyer.... 

A copper M&A frenzy masks big miners’ hesitation to build

In the dusty, treeless outback of Southern Australia, a brand new mining camp is home to a hundred workers, putting in 12-hour days, two weeks at a time. Dozens of trucks are scattered across the... 

South Africa seen sticking to modest rate cut despite Fed cut

The South African Reserve Bank (SARB) will likely lower interest rates by 25 basis points on Thursday, despite a larger-than-expected overnight move by the Federal Reserve as it turns the screws on... 

Rand gains with SARB poised for first rate cut in four years

The rand gained Thursday morning ahead of a South African Reserve Bank interest rate decision, where the central bank is expected to deliver its first cut since July 2020. The currency strengthened... 

Gold rises to record after Fed makes first rate cut since 2020

Gold advanced to a record high after the Federal Reserve lowered its benchmark interest rate by a half a percentage point Wednesday, in an aggressive start to a policy shift to boost the labor... 

Barrick suspends Papua New Guinea mine after deadly clashes

Barrick Gold suspended operations at a gold mine in Papua New Guinea after violent clashes in the area killed two company employees. Mining was halted in a move to protect employees at the Porgera... 

BHP’s fertiliser boss bets on low-cost potash to challenge rivals

BHP Group expects its $10.6-billion potash mine in Canada to make money even with weakened fertilizer prices, says the head of the project. Jansen mine is expected to produce potash at costs that... 

Gold miners say they’re now disciplined as dealmaking heats up

With gold prices at a record high, mining companies are back hunting for deals while trying to reassure investors that they’ve learned from past mistakes of overspending. There has been a flurry... 

Gold-rich Sudan talks mining With Russia as war alliances shift

Gold-rich Sudan discussed boosting cooperation in the mining sector with Russia, as Moscow strengthens ties with the North African nation’s military-led government amid a 17-month civil war. A... 

South African Treasury to coax funds to invest in infrastructure

South Africa’s National Treasury is working on measures to encourage private investment in infrastructure projects, an initiative it hopes will silence calls from other quarters in the government... 

Zambia mines lobby calls on government to halt reforms

Zambia’s Chamber of Mines said proposed legislative and policy reforms pose “an unprecedented threat” to investors’ rights and will undermine the country’s ambitions to quadruple copper production.... 

China’s Zijin vows to keep investing in Canadian mining despite crackdown

Zijin Mining Group, China’s most valuable mining company, says it won’t be deterred by the Canadian government’s measures to limit foreign involvement in its mining sector. The Chinese gold and... 

Newmont on track to get at least $2bn from asset sales, COO says

Newmont, the world’s biggest gold miner, said it’s on track to raise $2-billion — if not more — from selling smaller mines and development projects. “We’ll get at least that,” COO Natascha Viljoen... 

Seriti plans to cut over 1 100 coal jobs

South African coal miner Seriti Resources said it plans to cut as many as 1 137 workers across two opencast operations because the mines are unprofitable. The Middelburg Mine Services and... 

Bill Gates turns to cows milk and gut bacteria in $3tr nutrition fight

Bill Gates says world leaders must step up the fight against a worsening child nutrition crisis that’s causing trillions of dollars in economic losses — and that gut bacteria investment and more... 

Africa’s largest economies to change course on rates for first time in years

Central banks in two of Africa’s largest economies — South Africa and Nigeria — are set to change course on interest rates for the first time in years as inflation lets up. At least five others... 

China’s grip on rare earths undercuts projects from US to Japan

A couple hours outside Houston, in a remote field near a Dow Chemical Co. plant, America’s bid to undercut China’s grip on the global supply of rare earth minerals critical to high technology has... 

Gold climbs to another record with Fed rate cut expected in days

Gold rose to a record as markets waited for the Federal Reserve to begin easing monetary policy for the first time in more than four years. Bullion climbed as much as 0.4% to a high of $2... 

South Africa’s work visa reform plans slowed by tax issues

South Africa’s plan to attract more professionals to its skills-starved economy through the introduction of a so-called nomad visa for remote workers has been slowed by the need to amend tax... 

Bezos-backed group to prepare South African grids for investment

A global organisation backed by Amazon Founder Jeff Bezos’ climate and biodiversity fund said it’s setting up a programme to attract investment into South African municipal power grids, which need... 

Aussie mining shares rally under pressure after bumper week

The best week in over a year for Australia’s mining shares is at risk of reversing as concerns deepen over China’s growth trajectory. Weakening factory output and consumption data in the world’s... 

Rio Tinto boosts stake in graphite miner as China curbs exports

Mining heavyweight Rio Tinto Group has increased its shareholding in an Australian-listed graphite developer to the maximum allowed before it must make a takeover offer, as China limits exports of... 

South Africa told by Germany its energy transition too slow

South Africa has been told that the pace of its energy transition is too slow by a key funder, Germany, Environment Minister, Dion George, said. Germany is one of the partners in the so-called Just... 

Zambian copper mines desperate for power find an unlikely saviour

Zambia’s biggest mines are turning to a surprising power source as the copper-producing nation battles an unprecedented energy crisis: South African electricity company Eskom Holdings, which until... 

Gold rises to another record high ahead of expected Fed rate cut

Gold rose to another record high — after surging almost 2% to an all-time peak on Thursday — as the dollar extended declines ahead of a widely expected Federal Reserve rate cut next week. Bullion... 

Pravin Gordhan dies at 75

Pravin Gordhan, who held three positions in South Africa’s cabinet and won plaudits for standing up to Jacob Zuma during his scandal-marred presidency, has died. He was 75. Gordhan died in hospital... 

US State Department official sees bipartisan support for Africa critical mineral projects

A senior US State Department official reassured African governments that an initiative to help counter China’s influence through developing infrastructure on the continent will continue even after... 

US Ex-Im Bank eyes investment in another Mozambique LNG project

The US Export-Import Bank is considering funding a liquefied natural gas project led by Eni off the coast of Mozambique, years after investing in an onshore facility to produce the fuel that’s been... 

Lundin CEO says potential buyers are eyeing its European mines

Lundin Mining’s top executive says several potential buyers are looking at its mines in Europe as the Canadian metals producer looks to sell its oldest assets. “We have a lot of interested parties... 

Struggling miners put the brakes on South Africa’s stock rally

South African stocks have their noses in front of emerging-market peers, but glum news from China threatens to weigh on the key mining sector and stymie that outperformance. Johannesburg’s main... 

Lithium world asks if surprise mine shutdown can arrest slump

An unexpected shutdown at one of China’s biggest lithium mines has left the industry scrambling to judge if the move will be enough to end the battery material’s prolonged price slump. The share... 

Transnet breaches loan terms again as debt weighs on investment

Transnet breached loan covenants for a second year running as the South African port and rail operator staggers under a debt burden that’s constraining investments needed to resurrect its ailing... 

Zimbabwe’s biggest miners seek $182m for solar projects

Some of Zimbabwe’s biggest miners are seeking $182-million to develop 200 MW of locally-generated solar power, according to the head of the renewables company responsible for the projects. The... 

South Africa rejects civil-servant pay demand, offers 3% raise

The South African government rejected a demand by public-sector workers for a 12% pay increase, saying it’s unaffordable. Instead, the state offered a 3% raise, Frikkie de Bruin, general secretary... 

Iron-ore tests floor as plunge to $90/t puts mines at risk

Iron-ore’s plunge is about to test the view that the steelmaking material can find solid price support at $90 a ton or more as high-cost mines are nudged out of the market. Futures in Singapore... 

Congo sells copper from Tenke to trio of trading heavyweights

Glencore, Mercuria Energy Group and Trafigura Group are buying copper from the Democratic Republic of Congo’s State miner, which is marketing metal from joint venture projects for the first time.... 

Net zero needs more metals, but less extraction from the earth

The mining industry is currently one of the most significant contributors to planet-warming emissions — but it's on track to become one of the most important sectors for a net-zero future. Annual...