US stalls $2.6bn climate finance package for South Africa

The US is stalling the distribution of $2.6-billion in climate finance to South Africa, stoking concerns the money might be blocked outright, people familiar with the situation said. At a meeting... 

Saudi Arabia awards exploration leases to some major miners

Major mining companies including India’s Vedanta and China’s Zijin Mining Group have been awarded leases to explore for metals in Saudi Arabia, part of the kingdom’s push to expand the industry.... 

South Africa set to alter course on rates until ‘dust settles’: Day Guide

The South African Reserve Bank (SARB) is set to look past a smaller-than-expected rise in prices last month and keep borrowing costs unchanged while it assesses the impact that US President Donald... 

South Africa, facing mill closures, begins steel tariff review

South Africa, facing the prospect of ArcelorMittal South Africa (AMSA) closing two steel mills crucial to the local manufacturing industry, has begun a review of import tariffs on the metals and is... 

Copper climbs above $10 000/t as US buyers ramp up imports

Copper rose above $10 000/t on the London Metal Exchange for the first time since October, as buyers in the US race to import supplies of the key industrial meal ahead of potential tariffs. Prices... 

Australia’s Dutton says Trump meeting will be first if elected

Australia’s opposition leader said he will make his first foreign visit to the US to meet with President Donald Trump if he wins the forthcoming election, arguing the longstanding allies must... 

Poilievre pledges money, fast approvals for Canada’s Ring of Fire mining region

The head of Canada’s Conservative Party says a government led by him would aim to approve all federal permits for Ontario’s Ring of Fire minerals region within six months to speed the harvesting of... 

Deep-sea miners are set to dig for critical minerals, even if rules aren't done

As companies seek to extract critical minerals used in electric vehicle batteries and other green technologies from the deep sea, a showdown is under way over when and whether to allow mining of... 

Codelco eyes Friedland’s Pulsed power to boost Chilean mine efficiencies

Codelco, the world’s biggest copper producer, is considering adopting technology being developed by Robert Friedland’s I-Pulse that uses electricity to shatter rocks. Maximo Pacheco, Codelco’s... 

Tariff risk unleashes record copper shipments bound for US ports

The US is about to be flooded with a massive wave of copper as a worldwide dash to front-run potential tariffs by US President Donald Trump comes to a head. Between 100 000 and 150 000 metric tons... 

Congo considers asking Indonesia to help rein in cobalt supply

A Congolese ministerial committee recommended measures to bolster a temporary ban on cobalt exports, including working with Indonesia, the No. 2 supplier of the battery metal. The Democratic... 

Top Calibre investor opposes Equinox’s $1.8bn takeover

Calibre Mining’s top shareholder has come out against Equinox Gold's $1.8-billion bid for the gold miner, casting uncertainty on the biggest bullion deal so far this year. The combination of the... 

AMSA, govt near funding deal for stricken mills

South Africa is nearing a deal to provide funding to ArcelorMittal South Africa (AMSA) and keep the steel mills open, which are crucial for the nation’s economy, people with knowledge of the matter... 

Global silver market under strain as tariffs trigger dislocation

The global silver market is under stress as trade-war concerns unsettle investors, with key indicators flashing red, millions of ounces on the move between trading hubs and months of disruption in... 

Trump metals tariffs are self-sabotage, Australia Treasurer says

US tariffs on steel and aluminum are “self-defeating” and Australia merits better treatment, Treasurer Jim Chalmers said, adding the overall economic impact of President Donald Trump’s levies to... 

South Africa’s biggest political parties seek Budget compromise by April

South Africa’s two biggest political parties are holding a series of talks to resolve an impasse over the national budget that poses the biggest threat yet to the stability of the country’s ruling... 

Southern Copper says 20 injured in attack at Peru mining project

A group of informal miners attacked facilities at an exploration project in southern Peru, injuring 20 workers and security guards, an official at concessionaire Southern Copper Corp said Monday.... 

Coronation takes new look at platinum stocks as EV sales slow

The slowdown in sales of electric vehicles worldwide has prompted Coronation Fund Managers Ltd. to take a fresh look at South African producers of precious metals used in traditional gasoline... 

Glencore overhauls embattled Canadian smelters as margins plunge

Glencore is doubling down on a cost-cutting drive at its Canadian copper and zinc plants following job cuts last year, in a further overhaul of its global smelting business following a collapse in... 

Trump’s trade salvos test nerves of central bankers

An anxious sense of wait-and-see may emerge from central banks in the coming week, in their first collective assessment of how President Donald Trump’s trade policies are impacting the world... 

UBS boosts gold target to $3 200 as trade risks stay elevated

UBS Group became the latest bank to raise its price outlook for gold on increasing chances of a protracted global trade war — a scenario that analysts expect will continue to drive investors to... 

Copper near five-month high after China vows to boost demand

Copper traded near a five-month high after China vowed to revive consumption in the world’s largest consumer of the metal. The government unveiled a special action plan over the weekend aimed at... 

First Quantum subsidiary to suspend lawsuits against Panama

Cobre Panama, the local subsidiary of First Quantum Minerals, instructed its lawyers to meet with the government’s legal team and suspend its arbitration suits against Panama over the firm’s... 

Tropical cyclone Jude halts Mozambique coal railway, cuts off highway

Mozambique’s main rail line for its top export of coal halted operations this week because of a tropical cyclone that also cut off a national highway. Nacala Logistics, which operates the railway... 

Gold breaks through $3 000 as Trump turbocharges record rally

Gold prices passed $3 000 an ounce for the first time ever, driven higher by a central bank buying spree, economic fragility worldwide, and President Donald Trump’s attempts to rewrite the rules of... 

Anglo American plans fresh job cuts as part of restructuring

Anglo American is planning more job cuts at its corporate office, as it restructures its business by selling assets and spinning off its platinum unit. The company has sent notices to employees who... 

Botswana’s government puts diamond trader deal on back burner

Botswana’s deal to acquire a stake in Belgian gem trader HB Antwerp – proposed by the previous government but never completed – appears to be in limbo. The plan for Botswana to purchase a 24%... 

Rio Tinto backs US recycling project as tariffs upend scrap flow

Rio Tinto Group is investing in Exurban, a company planning to build an Indiana plant to recover metals from mobile phones, computers and other electronic waste, just as the Trump administration’s... 

Panama clears First Quantum to ship stockpiled copper from mine

First Quantum Minerals was cleared to begin shipping out stockpiled copper in Panama, the latest sign authorities may be willing to negotiate a restart of the stalled mine. Panama’s President Jose... 

Gold may rise as high as $3 500 in third quarter, Macquarie says

Gold’s burgeoning safe-haven allure may see it surge to a record high of $3 500 an ounce during the third quarter, according to Macquarie Group analysts. Bullion could average $3 150 an ounce over... 

Copper can reach $10 000 before tariffs bite, says Citigroup

Copper will hit $10 000 a ton in the coming three months, according to Citigroup, which said the global market will remain tight until the timeline for US import tariffs becomes clearer. The metal... 

South Africa forms G20 panel to address ballooning African debt

South Africa established an expert panel to address issues in Africa during the country’s chairmanship of the Group of 20 economies, including the continent’s high debt burden. African countries... 

A global steel war heats up with Trump’s latest tariff offensive

President Donald Trump is unleashing sweeping import tariffs that he says will reverse the decline of America’s steel towns. But the US isn’t the only nation rushing to protect its factory... 

Goldman Sachs anticipates surge in US copper net imports

US net copper imports could rise by 50% to 100% in the coming months due to higher US prices before the Trump administration's planned tariffs, Goldman Sachs said in a note on Tuesday. The May... 

Trump extends trade fight as steel, aluminum tariffs take effect

President Donald Trump’s latest tariffs on steel and aluminum imports came into force Wednesday, extending his trade wars to more of the US’s top trading partners in a risky bid to revive an... 

Rio Tinto seeks to raise as much as $9bn for Arcadium Lithium buyout

Rio Tinto is tapping the US investment-grade bond market Tuesday to raise between $7-billion and $9-billion for its just-closed acquisition of Arcadium Lithium, according to people familiar with... 

Rare earth miner says scarce Brazil financing undercuts industry push

Meteoric Resources is finding it difficult to find local financing for its $420-million rare earth project in Brazil, pushing the Australian firm to expand its search for investors beyond the South... 

Carlyle’s Currie says tariffs to add security premium for metals

Carlyle Group’s Jeff Currie warned of a “security premium” that will be added to the cost of metals like copper as tariffs mean that countries will need to pay more to ensure domestic supplies.... 

Rio Tinto to sell bonds to finance Arcadium Lithium purchase

Rio Tinto Group said it’s seeking to sell bonds in the US to help repay a bridging loan used to finance its $6.7-billion acquisition of Arcadium Lithium. The world’s second-biggest miner didn’t... 

Major copper miner Peru readies US delegation amid tariff threat

Peru is planning to send a delegation to meet with US officials after the Trump administration announced plans to introduce copper tariffs that may affect the South American nation’s biggest export...