Eskom’s hard-won recovery tested by cities owing billions

A turnaround in the finances of South Africa’s Eskom Holdings has won praise from investors but they are keeping their eyes on one issue — the company’s struggle to recoup about R95-billion in... 

Zijin in talks to buy $6bn China lithium producer

Zijin Mining Group, one of China’s most acquisitive miners, says it’s in discussions to buy shares and potentially to take over Zangge Mining a lithium and potash producer. Zijin is in talks with... 

Indonesia’s coal production hits record as energy needs rise

Indonesia’s coal production reached a new high in 2024 amid rising demand for energy both domestically and globally. Last year’s output was at 831-million tons, according to preliminary data... 

Australia’s most populous states face gas shortfalls from 2027

Australia’s east coast is expected to have a shortfall of domestic gas supply from 2027 unless new gas fields are soon brought online, according to the nation’s top consumer watchdog. Sydney and... 

BlackRock leaves major climate group amid Wall Street exodus

BlackRock is exiting one of the world’s biggest climate finance groups for investors after being targeted by Republican politicians for its efforts on global warming. The money manager said... 

Sub-Saharan Africa economies well placed for 2025, Moody’s says

Sub-Saharan Africa’s economic growth is expected to improve to an average 4.2% this year from an estimated 3.8% in 2024, boosted by investments in energy and infrastructure and an expanded services... 

Trump tariff fears spark disconnect in silver and copper markets

Copper and silver futures in New York are surging above rival international price benchmarks as traders ramp up bets that Donald Trump will impose hefty import tariffs on the metals as part of a... 

Indonesia nickel move may cut global supply 35%, Macquarie says

Potential cuts to Indonesian nickel mine output could remove more than a third of global supply from the market, according to Macquarie Group, presenting a significant upside risk to prices. The... 

China to keep tapping coal to meet its energy security needs

Cheap coal will continue to provide the ballast for China’s energy security in the coming year, according to the country’s top industry grouping. Output is likely to rise 1.5% in 2025 for a ninth... 

Canada's Wilkinson warns Trump against an oil trade war

Donald Trump’s claim that the US doesn’t need anything from Canada is “simply false,” said Jonathan Wilkinson, Canada’s Energy Minister and a potential candidate in the contest to replace Justin... 

Codelco taps debt market to fund record copper-mine investments

Codelco is tapping the bond market to the tune of about $1.5-billion to help fund record investments needed to retain its status as the world’s biggest copper producer. Chile’s state mining firm... 

Brazil offers $815m to back strategic minerals projects

Brazil is offering about $815-million in financing for projects aimed at boosting development of strategic minerals within the South American nation. BNDES and government funding agency Finep,... 

Glencore loses senior aluminum traders to rivals Vitol, Mercuria

Two of the top traders in Glencore’s aluminum department are leaving for Vitol Group and Mercuria Energy Group — the latest sign of how a return into metals by energy firms is fueling a talent war... 

Allied Gold gets Mali’s go-ahead for new project near Sadiola

Mali signed an agreement with Canada’s Allied Gold for a 35% stake in a new mine in connection to its Sadiola project. Known as Korali-Sud, the new project will be managed under Mali’s new mining... 

Africa gets new stock market as Ethiopia seeks to woo investors

Ethiopia is opening a stock exchange after a five-decade gap, in its latest step to lure investors to a nation that’s struggling to control regional strife as it recovers from a civil war.... 

Stubbornly resilient lithium supply remains hurdle to recovery

A persistent lithium glut and the prospect that some mines could be restarted if prices rise means the battery metal is unlikely to mount a significant recovery this year. Lithium prices have... 

Chile’s year-end copper windfall signals mines are recovering

Chile’s copper export revenue jumped in December, despite lower prices for the metal, indicating that mines in the top-producing country extended a recovery from the lowest levels in two decades.... 

Trump says he will revoke Biden offshore drilling ban immediately

US President-elect Donald Trump said on Tuesday he will move quickly to revoke an offshore oil and gas drilling ban announced by outgoing Democratic President Joe Biden. "Banning offshore drilling... 

Musk’s massive Tesla lithium plant hunts for water in drought-hit Texas

Twenty miles outside Corpus Christi, Texas — an area so dry the local water company distributes shower timers at high school football games — the world’s richest man is nearly done building a... 

Municipal debt piles pressure on Eskom’s restructuring efforts

Billions of rand that South African municipalities owe Eskom are hindering the State-owned power utility’s plan to restructure and separate its distribution unit, according to chairperson Mteto... 

Infrastructure reform key to lift South Africa growth, BER says

South Africa must invest R200-billion to revive its frayed railways, half that amount again to upgrade water infrastructure, and tackle bottlenecks in both electricity and governance to achieve an... 

Zijin plans lithium production in Congo from early 2026

China’s Zijin Mining Group aims to start producing lithium in the Democratic Republic of Congo early next year from one of the world’s largest deposits of the battery metal. Zijin is accelerating... 

Namibia seeks investment in nuclear power from China

Namibia, one of the world’s largest uranium producers, is seeking investment from China in nuclear power to boost its role in the global push to clean energy. “We want to add value to our uranium... 

World’s number-one cobalt miner notched production record in 2024

The world’s No. 1 cobalt miner churned out a record volume of the metal in 2024, thanks to a speedy ramp-up of its giant mines in Africa. China’s CMOC Group said Monday it produced 114 165 t of... 

Carney, Freeland lead list of contenders to succeed Trudeau as Canada’s PM

Justin Trudeau said Monday that he will leave as Canada’s prime minister in the coming months, ending a political run that included three consecutive election victories and nine years in the... 

Gates-backed KoBold Metals raises $537m in funding round

KoBold Metals, a US company backed by Bill Gates, raised $537-million in equity funding to boost exploration of minerals critical to the energy transition. The funding round valued KoBold at... 

Zimbabwe invites power-storage bids to ease supply crisis

Zimbabwe’s power-transmission company has invited bids for companies to install energy-storage units as part of measures to ease crippling energy shortages. Zimbabwe Electricity Transmission &... 

Green hydrogen prices will remain stubbornly high for decades

Green hydrogen has been touted by politicians and business leaders alike as a key fuel for a carbon-free future. But it will remain far more expensive than previously thought for decades to come,... 

Goldman pushes back $3 000 gold forecast on fewer US rate cuts

Goldman Sachs Group said it no longer sees gold reaching $3 000 an ounce by the end of the year, pushing the forecast to mid-2026 on expectations the Federal Reserve will make fewer rate cuts.... 

Jervois signs rescue deal after cobalt price collapse

Cobalt miner Jervois Global will go private as part of a restructuring deal with one of its lenders, after struggling to compete with Chinese rivals as prices for the battery metal plunged. The... 

South Africa retains preferential US market access for 2025

South Africa will retain its preferential access to the US markets for its goods in 2025 despite strained relations between the countries. After undertaking an annual review of which nations are... 

Prosus chair’s trust sells €156m of shares for hotel growth

A family trust linked to Koos Bekker — one of South Africa’s richest people — sold about €156-million of shares in Internet investing giant Prosus to fund building operations at hotels in South... 

Eskom risk premium falls as turnaround wins over bond investors

Eskom Holdings’s risk premium is dwindling as a turnaround at South Africa’s State-owned electricity company gathers momentum. The extra yield investors demand to take on the risk of holding the... 

Mercuria partners with Zambia on metals trading venture

Mercuria Energy Group is teaming up with Zambia on a metals trading venture, the latest example of a commodity house partnering with a mineral-rich state to secure access to key resources. Mercuria... 

China’s niche metals export ban lifts prospects for Canada firms

China’s move to ban exports of niche metals to the US is creating opportunities for Canadian producers — though tariff threats by the incoming Trump administration may limit their prospects. A trio... 

Shipping industry’s $188bn binge cuts space to make new vessels

The biggest vessel-ordering program since the eve of the global financial crisis is putting a squeeze on the shipbuilding industry’s capacity to construct new vessels. Owners plowed more than... 

Saudi Arabia taps Aramco oil field brine in lithium battery push

Saudi Arabia is exploring projects that can produce lithium for batteries in an effort to ramp up production in the Middle Eastern oil exporter. The country, in the midst of revamping its economy... 

Namibia investigates China’s Xinfeng for alleged illegal mining

Namibia’s Ministry of Mines and Energy is investigating Xinfeng Investments for alleged illegal mining in the lithium-rich Erongo region. The ministry is accusing the company, which has an... 

Chile’s Enami eyes lithium license in boost to partner search

Chilean authorities are expected to grant Enami a lithium operating license by year-end, paving the way for the State company to secure partners to develop the project. All six local indigenous... 

Glencore in talks to sell its Philippine copper smelting unit

Glencore is in talks to sell its copper business in the Philippines as the metal’s smelting industry reels from the lowest processing fees on record. The commodities giant is discussions with at...