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... 

South Africa to put in place online mining rights portal in July

South Africa plans to unveil a new online mining registry next month, a long-delayed move toward greater transparency that should help boost investor interest in funding exploration projects. The... 

South African consumer confidence recovers in second quarter

South African consumer confidence recovered in the second quarter as a proposed increase in consumer taxes was scrapped and an impasse in the coalition government over the budget ended. A quarterly... 

Canada Energy Minister seeks Indigenous equity in major projects

As Prime Minister Mark Carney’s government prepares to plow forward on major new energy and infrastructure projects, his natural resources minister says he wants Indigenous groups to pursue large... 

Miner OceanaGold sees ‘boring’ dual-listing boosting shares

OceanaGold is eschewing common investment banking advice and pursuing what the company’s CEO thinks is a winning strategy: A “boring” US listing without selling additional shares. Vancouver-based... 

South Africa posts first successive primary surplus in 16 years

South Africa achieved its first back-to-back primary budget surplus in 16 years, signalling its commitment to fiscal discipline. Africa’s most-industrialised economy posted a primary surplus —... 

Mali says State working on resuming output at Barrick gold mine

Mali said a temporary administrator will restart production at Barrick Mining Corp’s Loulo-Gounkoto gold complex, which was put under provisional administration earlier this month. A dispute... 

Greenland miner eyes US, EU deals after Trump boosted interest

Greenland’s biggest miner Amaroq Minerals is in talks with several state-backed agencies as Donald Trump’s political spotlight translates into concrete investor interest, the company’s chief... 

Copper extends gains as Goldman sees 2025 price peak in August

Copper extended gains for a fifth day, after Goldman Sachs Group said it expected prices to rise to a 2025 peak of around $10 050 a ton in August, as supplies outside the US tighten. Traders of... 

Gold holds decline as Israel-Iran ceasefire cuts haven demand

Gold held a decline, which was triggered by a reduction in Middle East tensions as a shaky Iran-Israel ceasefire appeared to hold, cutting haven demand. Bullion traded little changed at around $3... 

Carney says Canada can hit new C$150bn NATO bill with mines

Prime Minister Mark Carney said Canada can meet a steep expected increase in its North Atlantic Treaty Organisation obligations spending partly by leaning on the country’s bounty of critical... 

South African auto firms, bracing for tariffs, face wage talks test

A potential deadlock over pay increases for South Africa’s automotive sector workers risks shutting down an industry that accounts for more than a fifth of the nation’s manufacturing output,... 

US remains in talks on $500m for Angola’s rail corridor

The US International Development Finance Corp. is still finalizing more than $500 million in financing for the Lobito corridor, a railway project that will haul critical minerals from central... 

Australia’s top iron-ore export hub has busiest May on record

Iron-ore shipments from the largest bulk-export terminal set a record for the month of May, putting flows at the biggest year-to-date volumes even after weather issues curbed exports earlier in... 

Coal loophole undermines bank pledges to cut fossil fuel funding

In the parts of the financial world that have spent the decade since the Paris Agreement trying to curb the most-polluting fossil fuel, there are actually two distinct types of coal — with two very... 

Trump administration to open undeveloped forests to mining, logging

The US Department of Agriculture will rescind a Clinton-era policy that banned logging, roads and mining in undeveloped forests so it can manage those lands for fire risks, the agency said on... 

Trump exhorts US to drill oil, gas after Iran attacks

US President Donald Trump urged his administration on Monday to boost drilling rates and market players to keep oil prices down amid fears that the aftermath of the US attacks on Iran's nuclear... 

Gold falls as haven demand ebbs after Trump announces ceasefire

Gold retreated as haven demand ebbed after US President Donald Trump announced that Israel and Iran had agreed to a ceasefire that would start about midnight Monday in Washington. Bullion fell as... 

Agnico Eagle CEO sees only one reason to buy a gold stock

The head of one of the world’s most valuable gold miners believes there’s only one reason to buy a gold mining stock – and too few companies in the industry are offering it to investors. “The only... 

ANC regains ground, poll finds

Support for South Africa’s biggest political party rebounded after it was forced to scrap plans to raise value-added tax and now stands at 40%, the same as it garnered in last year’s elections,... 

Chinese cobalt prices and stocks spike after Congo extends ban

Cobalt prices and stocks surged in China after the Democratic Republic of Congo extended its export ban to September, constricting supplies of the raw material used in alloys and batteries. The... 

Investors set to flock to safety as world awaits Iran’s response

Traders are forecasting a drop in stocks, a jump in crude prices and possibly a strengthening of the dollar as investors head for safety in the wake of the US attack on Iran’s three main nuclear... 

Toyota files R6.5bn South Africa flood damage lawsuit – Business Day

Toyota Motors Corp. has brought a lawsuit for R6.5-billion in a South African court for 2022 flood damages that shuttered its plant near Durban, Business Day reported. The claim against Transnet... 

Xi’s giant iron-ore trader is shaking up a $130bn market

Just three years after its founding, a Chinese government-run trader has become the single biggest force in the country’s $130-billion market for iron-ore imports. The rise of China Mineral... 

First Quantum takes small steps in long road to Panama mine restart

First Quantum Minerals is receiving some encouraging signs for its shuttered mine in Panama, though the nation’s president warned there’s a long way to go before reaching a deal to restart. The... 

Barrick’s future in Mali hinges on key gold mine permit renewal

One of the next major hurdles in Barrick Mining Corp.’s saga in Mali will be renewing a key gold mining license, after the state temporarily took over the vast Loulo-Gounkoto complex this week. The... 

South Africa banks at risk from trade, war shocks, Sarb says

Growing geopolitical tensions and global policy uncertainty are among the biggest risks facing South Africa’s financial industry, the central bank said. The nation is vulnerable to spillover... 

South Africa declares national disaster after floods kill 92

South Africa declared a national disaster after floods and snow killed more than 90 people and destroyed roads and bridges in four of the country’s nine provinces. Adverse weather since June 9... 

Gold edges higher after Fed’s inflation warning triggers decline

Gold edged higher following a decline in the previous session triggered by Federal Reserve chairman Jerome Powell’s warning of inflation risks for the US economy. Bullion was trading around $3 380...