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... 

UK’s Reeves announces South Africa infrastructure partnership to boost investment

UK Chancellor Rachel Reeves announced an infrastructure partnership with the South African government to boost investment in Africa’s biggest economy. The pact, announced in the South African port... 

China spy agency accuses foreign agents of stealing rare earths

China’s spy agency has accused overseas intelligence agencies of stealing controlled rare earth materials, reiterating its intent to curb smuggling even as Beijing agrees to review applications to... 

Former Lundin CEO Rockandel joining infor to seize on mining deals

Peter Rockandel, former chief executive officer of Canadian metals producer Lundin Mining Corp., is planning to capitalize on the recent uptick in mining financing and deal flow as he returns to... 

Anglo’s handling of De Beers sale irks stakeholder Botswana

Anglo American’s handling of the De Beers sale has angered Botswana, which owns 15% of the diamond producer, because the government believes that it hasn’t been properly consulted, people with... 

G20 nearing deal on communique, Godongwana says

Finance Minister Enoch Godongwana said the Group of 20 advanced economies are nearing a deal on a communiqué. “We are closer to a making a deal and achieving a consensus that will emerge as a... 

G20 finance chiefs confront uncertainty amid Trump’s trade war

South Africa called for greater cooperation among the Group of 20 advanced economies, as finance ministers and central bank governors gathered under the cloud of US President Donald Trump’s trade... 

Alcoa says Trump’s tariffs added $115m in aluminum costs

Alcoa Corp, the largest US aluminum producer, said tariffs on imports from Canada cost it $115-million in the second quarter, showing how US President Donald Trump’s trade agenda has affected the... 

Aura Minerals shares mixed in US debut after oversubscribed deal

Aura Minerals' shares were little changed from the offer price in a US trading debut, after the gold and copper miner raised $196-million in a listing in New York. The company’s shares traded at... 

Ultra-rare metal rides AI boom as commodities star performer

Thanks to the boom in artificial intelligence, an ultra-rare element you’ve probably never heard of is one of this year’s best-performing raw materials. Ruthenium, a silvery gray mineral, has... 

Iron-ore hits two-month high as China policy hopes buoy demand

Iron-ore climbed to a two-month high, with traders encouraged by China’s pledge to reduce excess competition and outdated capacity, despite the steel market’s weakening demand outlook. The bulk... 

Gold steadies as investors weigh outlook for Trump-Powell saga

Gold steadied after a volatile session on Wednesday as traders assessed the outlook for Jerome Powell’s tenure as Federal Reserve chair after more speculation that President Donald Trump may ax... 

Vedanta’s Zambia copper unit will revamp smelter to boost output

Vedanta Resources’ Zambian copper mining unit plans to refurbish its smelter as part of efforts to ramp up production from operations the company recovered last year. The plant will undergo “a full... 

Citigroup backs silver to soar just as gold’s rally loses steam

Silver will extend a rally beyond $40 an ounce in the coming months on tightening physical supplies and growing investment demand, according to Citigroup Inc., which reiterated a more cautious... 

Ghana moves to hedge gold price to preserve build-up of reserves

Ghana is working on a programme to hedge the price of gold exports as it seeks to shield earnings that have bolstered the central bank’s foreign reserves from future volatility, Governor of the... 

Barrick weighs sale of gold mine to Discovery Silver

Barrick Mining Corp is in advanced talks to sell its last Canadian gold mine to Discovery Silver Corp, according to people familiar with the matter, as the firms seek to capitalize on the soaring... 

China’s lithium giants tumble after first-half profit warnings

Shares in China’s lithium producers fell sharply on Tuesday after two of the largest miners warned that battery-metal woes had weighed on earnings for the first half of the year. Tianqi Lithium... 

Tariffs, China deflation cloud South Africa CPI, Kganyago says

South African central bank chief Lesetja Kganyago flagged that dollar depreciation because of US tariffs and deflation in China are clouding the outlook for inflation locally ahead of a... 

Indonesia looking at levy on coal exports

Indonesia, the world’s biggest coal exporter, may impose an export levy on the fossil fuel in a bid to boost state revenues, according to local media reports that cited a government minister. The... 

CMOC boosts cobalt production despite Congo export ban

China’s CMOC Group produced more cobalt at its two mines in the Democratic Republic of Congo (DRC) in the first half of this year, despite the African nation’s ban on exports. The world’s largest... 

South Africa aims to forge G20 accord despite ongoing US enmity

South Africa expressed confidence that it can get finance ministers and central bank governors from the Group of 20 nations to agree on a communique for the first time since it assumed the... 

Zimbabwe’s top diamond miner cuts 400 jobs as prices slump

Zimbabwe’s biggest diamond miner is cutting 400 jobs, weighed down by a global downturn in the market for natural gems, a company representative said by phone. State-owned Zimbabwe Consolidated... 

Mercuria and Zambia to ship first copper under new partnership

Mercuria Energy Group and a Zambian State-owned company are set to ship their first copper under a new trading partnership after obtaining a government waiver to export a semi-processed form of the... 

G20 agenda eclipsed as Bessent skips South Africa meeting again

For the second time this year, the world’s most powerful finance ministers gather in South Africa without the presence of the US Treasury Secretary. Scott Bessent will skip the Group of 20 again... 

Rio Tinto wants to invest more in US copper under Trump tariffs

Rio Tinto says it has a “strong desire” to invest in US copper mining following President Donald Trump’s plans to levy imports of the critical metal. “There is increasing recognition by the US... 

Mali seizes Barrick’s gold as junta leader claims endless rule

Mali’s government seized more than a ton of gold from Barrick Mining, days after the West African nation’s junta leader signed a law granting himself a mandate renewable forever. State helicopters... 

Tariff turmoil masks South Africa’s recovery, Standard Bank says

The chaos wrought by a recent wave of US tariff actions may be obscuring early signs of recovery in South Africa’s economy, Standard Bank Group said. The recent downward revisions to the country’s... 

US copper buyers seen paying a high price for Trump’s tariff

US buyers of copper will pay a high price if President Donald Trump pushes ahead with a 50% tariff on refined metal as opposed to copper products such as wiring, according to officials in Chile.... 

Philippine miner sees surge in nickel shipments to Indonesia

Nickel ore shipments to Indonesia from the Philippines are expected to surge this year to meet demand from Chinese-owned refineries affected by Jakarta’s curbs on domestic production, according to... 

Mozambique’s $57bn of LNG projects get reboot despite risk

Four years after terrorist attacks halted a massive liquefied natural gas project in Mozambique, momentum behind $57-billion in facilities that will export the fuel is picking up. TotalEnergies SE... 

Ecuador court to decide on fee that mining industry says imperils drilling

Ecuador’s government and its fledgling mining industry are heading into a legal battle over a controversial fee announced last month. The industry sees the measure as a tax that will stymie... 

Top CEOs want Canada to build a strategic minerals reserve for defence

Canada should become a world leader in producing and processing raw materials for military equipment and defense systems, according to an influential business group. The Business Council of Canada... 

Vedanta Base Metals CEO Griffith quits amid debt, short-seller woes

Vedanta Resources, the Indian mining conglomerate of billionaire Anil Agarwal that was targeted in a short-seller’s report, has lost the top executive of its base metals business, according to... 

African Central Banks weigh policy options amid Trump’s tariffs

Key African economies are set to stake out different approaches to interest rates in the coming weeks as they gauge the impact of US President Donald Trump’s new tariff proposals and their domestic... 

Trump says 50% tariff on copper imports to take effect Aug 1

President Donald Trump said the US would begin levying a 50% tariff on copper imports from August 1, confirming a move that will batter producers of everything from automobiles to homes and...