Court blocks ICTSI bid to appeal South Africa port-deal ruling

A South African court denied a bid by International Container Terminal Services Inc (ICTSI) to appeal a decision that temporarily stops the nation’s state-owned logistics firm from going ahead with... 

‘We can’t sit back’: Canada’s Premiers float retaliatory options against Trump

Canada’s provincial premiers are helping to assemble a list of possible retaliatory measures if President-elect Donald Trump follows through on a threat to apply 25% tariffs against all goods the... 

V&A plans R20bn Granger Bay development

Cape Town’s V&A Waterfront plans a R20-billion expansion of the adjacent Granger Bay precinct and has sought permission from authorities in South Africa’s second-biggest city for the development.... 

South32 hopeful Trump will allow access to Alaska copper region

South32 is optimistic the incoming Trump administration will open up access to a copper-rich region in northwest Alaska, where the Australian miner has development rights. If the building of a... 

South African inflation inches up, leaving rate cut hopes intact

South Africa’s inflation rate crept up by less-than-expected in November, creating room for the central bank to deliver another cut in borrowing costs next month. The consumer price index rose 2.9%... 

Zimbabwe wants 26% free-carry stake in new mining projects

Zimbabwe is planning to hold 26% of new mining projects on a free carry basis, and will also negotiate with existing operators to acquire a similar stake. “We need to move to a level where we reach... 

Guinea plans sovereign wealth fund backed by iron-ore income

Guinea plans to use some of its income from mining the world’s largest iron-ore reserve to create a sovereign wealth fund. The facility will fund key development projects in the government’s... 

Trump vows fast permits for those investing $1bn in US

President-elect Donald Trump said his administration would help expedite permits for any person or company that invested at least $1-billion in the US. “Any person or company investing ONE BILLION... 

BHP, Rio accused of allowing sexual harassment on mine sites

BHP Group and Rio Tinto Group allowed environments on their Australian mining sites where female staff faced systemic sexual harassment and gender discrimination, according to two class actions... 

Barrick said to seek buyer for Tongon mine as bullion soars

Barrick Gold Corp. is seeking buyers for its Tongon gold mine in Côte d'Ivoire in an effort to sell the aging operation when bullion prices are surging. The world’s No. 2 gold miner started... 

South Africa business confidence jumps as government hopes grow

South Africa’s business confidence soared to the highest level in nine years last month, suggesting a significant improvement in the economic outlook as businesses take encouragement from the... 

Newmont cuts management jobs in major corporate restructuring

Newmont let go of nearly a dozen managers, including a member of its executive team, as part of a sweeping corporate overhaul, according to people familiar with the matter. The world’s top gold... 

Zimbabwe power users raise $250m for solar plan

Zimbabwe’s industrial power users have secured $250-million from the African Export-Import Bank to build floating solar panels at the world’s largest man-made lake. The Intensive Energy User Group,... 

OR Tambo International faces flight delays over refuel issues

Airlines at South Africa’s busiest airport are unable to refuel their aircraft, raising the possibility of renewed delays just two days after pilots at the state-owned carrier ended a strike. The... 

South Africa cautious on rates to avoid regrets, Kganyago says

South African Reserve Bank Governor Lesetja Kganyago said policymakers were proceeding with care on adjusting interest rates, to avoid having any future regrets. “In an environment of uncertainty... 

Citi chops back copper forecasts as Trump’s trade tariffs loom

Copper looks set to struggle as extra US trade tariffs from the Trump administration and economic risks in China drag on consumption and prices next year, according to Citigroup. The metal —... 

New Caledonia nickel miner flags ‘fragile’ outlook after restart

Nickel miner Prony Resources New Caledonia warned that its Goro mine in the French territory is economically vulnerable after a recent suspension due to unrest, even as the company restarts... 

McKinsey, Busa join for G20 event after scandal

McKinsey & Co. is partnering with South African business-lobby group Business Unity South Africa (Busa) to prepare for an event aimed at connecting global policymakers, civil-society organisations... 

Vale Base Metals to make dozens of job cuts in management cull

Vale’s base metals subsidiary will let go of dozens of managers to simplify its corporate structure and improve performance, according to people familiar with the matter. The job cuts are part of... 

Iluka shares slump after warning on its rare earths refinery

Iluka Resources shares tumbled as much as 10% after Morgan Stanley said the Eneabba rare earths project faces economic and execution risks, even after it received A$400-million ($258-million) in... 

Rio’s abandoned Panguna copper mine still a threat, report says

Rio Tinto Group contributed to widespread damage due to waste left at an abandoned copper mine in Bougainville, Papua New Guinea, and risks to local communities are ongoing, a report has found.... 

Citi says deals from Gulf into Africa are keeping bankers busy

Rich investors from the Middle East are scouring Africa for deals in agricultural projects, critical minerals and renewable power, according to Citigroup. They’re looking at countries such as Kenya... 

Gold bulls’ ranks swell as Macquarie raises forecasts for 2025

Gold has scope to push higher next year, likely hitting a record, as the Federal Reserve cuts rates and central banks add bullion to reserves, according to Macquarie Group. The precious metal may... 

Adaro Andalan rises 20% after Indonesia’s largest IPO this year

Shares of coal miner PT Adaro Andalan Indonesia jumped in their first day of trading, in a show of demand for Indonesia’s largest initial public offering in about a year and a half. The... 

Rio Tinto CEO disputes activist call to unify listing

A call for Rio Tinto to abandon its primary London listing doesn’t make economic sense, CEO Jakob Stausholm said after an activist shareholder urged the miner to relocate to Australia. UK hedge... 

Trafigura’s ex-COO defends ‘inspirational’ founder at Swiss bribe trial

Mike Wainwright, Trafigura Group’s ex-COO who’s on trial in Switzerland accused of corruption, has defended the trading house’s late founder Claude Dauphin as an “inspirational person.” Dauphin, a... 

High Court says State can’t order new coal plants

South Africa’s High Court upheld a legal challenge to the government’s plan to procure 1 500 megawatts of new coal-fired power, ruling that it was unlawful because of the potential impact on public... 

The fight over Ghana’s illegal gold rush exposes election risks

There’s no escaping gold in Tarkwa. It’s in the forest. It’s under your feet as you walk the streets of Ghana’s biggest mining town. It’s the economy. Exposed holes in the ground bear witness to... 

Mitsubishi loses $90m in suspected China metal fraud

Mitsubishi has suffered a loss of more than $90-million in China after uncovering suspected fraud by one of its copper traders, according to people familiar with the matter. The loss is the latest... 

Canada mining group uses China ban to push back on Trump tariffs

Canada Mining Group Uses China Ban to Push Back on Trump Tariffs 

China bans germanium, gallium exports to US in tit-for-tat move

China announced an outright ban on several materials crucial to chip-making from being exported to the US citing concerns over military usage, in a tit-for-tat move after President Joe Biden’s... 

Biden touts Lobito project as first US leader to visit Angola

President Joe Biden touted his administration’s ties with Angola, including investment in a railway to deliver critical minerals across the continent as he met with Angolan President João Lourenço... 

Justice Minister moved to Human Settlements portfolio amid probe

President Cyril Ramaphosa moved Justice and Constitutional Development Minister Thembi Nkadimeng-Simelane to a new department, amid an investigation into her conduct before she joined the Cabinet.... 

Deutsche Bank sticks out among financiers of Peabody’s coal loan

When Peabody Energy agreed to buy the coal assets of Anglo American, only one European lender joined the US investment bankers and private credit specialists financing the deal: Deutsche Bank.... 

Miner RG Gold is said to consider stake sale to fund growth

Kazakhstan miner RG Gold is considering a minority stake sale to help fund the development of projects in the central Asian country, according to people familiar with the situation. RG Gold is... 

De Beers capitulates on diamond strategy with big price cuts

De Beers has cut diamond prices by more than 10% across the board as the world’s biggest producer abandons attempts to put a floor under the slumping market. The diamond industry has been struck... 

Zinc’s wild week may signal volatile era as supplies squeezed

Zinc could see more sharp price swings as growing tightness along the metal’s supply chain leaves buyers exposed to sudden changes in availability. The material used to galvanize steel had a... 

South Africa says no plans to develop a common Brics currency

South Africa’s government said there are no plans to create a so-called Brics currency, after US President-elect Donald Trump threatened to impose 100% tariffs on members of the economic bloc that... 

Gold slips as Trump’s BRICS currency warning boosts US dollar

Gold eased, pressured by a rising US dollar after President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new... 

Top copper miner Chile gets back to pre-pandemic output levels

Chile registered its biggest month of copper production this year, and the best October since before the pandemic, as the biggest supplier of the wiring metal recovers from project setbacks. Mines...