UBS joins Goldman in forecasting that gold’s rally isn’t over

Gold will rally to $2 900/oz by the end of next year, according to UBS Group, echoing a call from Goldman Sachs Group for further gains as central banks expand their holdings. There’s likely to be... 

South African business mood brightens to best level since March 2022

South African business sentiment rose its highest level since the first quarter of 2022, as constant electricity supply and political stability supported better business conditions. A quarterly... 

Group of nations make COP29 pledge on no new unabated coal power

A total of 25 countries and the EU are pledging to commit to no new unabated coal power in their next round of national climate plans, the latest global pledge aimed at curbing use of the fuel.... 

Zimbabwe power tariff hike sparks 3 000 MW of energy investments

Zimbabwe’s decision to adopt tariffs that reflect costs has sparked a wave of investments in the energy sector that will help ease its power crisis. Since the switch in December last year, energy... 

Namibia aims to raise $450m to boost power generation

Namibia’s state-owned electricity utility plans to raise $450-million by selling bonds in the country and raising development bank loans to help the southwest African nation boost power generation.... 

Treasury to suspend municipal funds over water debt

South Africa’s Treasury plans to withhold funds from five municipalities next month over their unpaid water bills, part of an effort to compel local governments to pay for basic services. The... 

Rio Tinto report shows bullying remains rife with women targeted

A new report by Rio Tinto Group showed 39% of workers surveyed by the world’s second-biggest miner had experienced bullying within a 12-month period, up from 31% in 2021. Two years after Rio Tinto... 

Mitsui said to be highest bidder for First Quantum's stake in Zambia mines

Japanese trading house Mitsui & Co. has emerged as the highest bidder for a stake in First Quantum Minerals’ Zambian copper mines, according to people familiar with the matter. Mitsui submitted an... 

Australian pension group rejects Mineral Resources pay proposal

A group representing Australia’s A$3.9-trillion ($2.5-trillion) pension industry has recommended its members vote against the remuneration plan of scandal-hit Mineral Resources at the company’s... 

Zambia, Zimbabwe face wake-up call after Kariba dam water levels plunge, Minister says

A plunge in water levels at the world’s largest man-made reservoir, which has left Zambia and Zimbabwe without power for hours, shows why they need to diversify their energy sources, according to a... 

Africa Central Banks seen cutting while they can after Trump win

Most African central banks weighing interest rates over the next three weeks are set to lower them, wary that the window to ease further may narrow after Donald Trump becomes US president. Of the... 

Australia’s national investment fund makes first bet on mining

Australia’s National Reconstruction Fund will invest A$40-million ($26-million) to boost mining equipment manufacturing in the state of Queensland, the billion-dollar vehicle’s first investment... 

Nickel miner Prony plans for restart of New Caledonia production

Nickel miner Prony Resources New Caledonia has brought its staff back onsite as it prepares to restart output after a six-month suspension triggered by riots in the French territory. The company,... 

Boliden is closing in on deal for Lundin's European mines

Sweden’s Boliden is closing in on a deal to buy Lundin Mining’s two European mines, according to people familiar with the situation. The two companies are in advanced talks over the assets, said... 

Soaring demand for copper will help drive mergers, BHP CEO says

Soaring demand for copper will require $250billion of investment over the next decade, helping to drive further mergers in the industry, BHP Group CEO Mike Henry said. “New deposits in certain key... 

Goldman says ‘go for gold’ as central banks buy, Fed cuts in ‘25

Gold will rally to a record next year on central-bank buying and US interest rate cuts, according to Goldman Sachs Group Inc., which listed the metal among top commodity trades for 2025 and said... 

Hydrogen wildcatters are betting big on Kansas to strike it rich

A new Gold Rush is taking shape on a quiet stretch of Kansas prairie. There, a clutch of startups backed by the likes of Bill Gates are searching below the surface for naturally occurring hydrogen,... 

Trump chooses oil fracking boss Wright as energy secretary

President-elect Donald Trump nominated Chris Wright, who runs a Colorado-based oil and natural gas fracking services company, to lead the Energy Department. Wright, the chief executive officer of... 

Gold loses some luster after Trump’s decisive win

Donald Trump’s victory immediately buoyed markets from stocks to Bitcoin. Gold is going to take a lot longer to turn things around. In the two days immediately following the Republican candidate’s... 

BHP warns Australian mining not ready for low-cost competitors

BHP Group’s Australia chief said the nation can’t rely on its traditional mining export markets and is unprepared for a new era of lower-cost competitors. The boom in demand from China’s... 

Coal mines supplying steel mills will face new methane scrutiny

Mines supplying coal for steelmaking will face new pressure over methane emissions as a United Nations watchdog expands its work. The International Methane Emissions Observatory will extend a... 

South Africa says China could assume climate lead if US exits

China has an opportunity to lead the global fight against climate change with the US set to tamp down its commitments following the election of Donald Trump as president, South Africa’s environment... 

Zimbabwe lithium miners want royalties to be linked to prices

Zimbabwe lithium miners want royalty payments to the government linked to metal prices as the current market downturn threatens the viability of investment projects. That will ensure “the... 

South Africa’s Barloworld in talks with Saudi Arabia’s Zahid Group

Barloworld is in talks with a group of investors that includes a unit of Saudi Arabia’s Zahid Group about the acquisition of the African distributor of Caterpillar Inc. equipment. The... 

MinRes says it paid rent of A$32m to entities linked to Ellison

Mineral Resources (MinRes) said it paid rent to entities associated with its MD Chris Ellison amounting to well over A$34-million between 2007 to 2024, according to a filing with the Australian... 

Lithium in nascent recovery, but longer-term outlook still bleak

Lithium is enjoying a mini-revival on an uptick in Chinese electric vehicle demand and supply cuts, although analysts caution there’s still likely to be a surplus of the battery metal in 2025.... 

Resolute shares suspended after Mali demands $160m

Resolute Mining suspended trading after Mali demanded the Australian gold miner pay about $160-million to resolve a tax dispute that’s seen its chief executive officer detained. The company’s... 

South Africa declares national disaster after floods, storms

South Africa declared a national disaster after floods and storms caused widespread damage in the country, allowing the government to free up funds for relief and reconstruction. Disruptive rains,... 

Mosaic's third-quarter profit falls short of expectations, CFO Freeland to retire

Fertiliser producer Mosaic missed Wall Street estimates for third-quarter profit on Tuesday, hurt by production snags and lower potash prices, sending shares down 8.3% in afternoon trading. The... 

Southern CEO says extending coal among options to meet AI demand

The booming demand for electricity from data centers and new factories requires an “all of the above” energy strategy that opens up the possibility of Southern Co. extending the retirement date of... 

Climate skeptics urge Trump to boost coal, gut science in agencies

Activists who dispute the severity of climate change enjoyed cachet in Donald Trump’s first administration and salivated over the prospect of his return to the White House. Now that he’s won,... 

South Africa markets eurobonds after coalition lifts confidence

South Africa is marketing eurobonds in its first potential international debt sale under a government of national unity following May elections. The dollar offering is set to include a... 

Trump picks former congressman Lee Zeldin to lead EPA

President-elect Donald Trump has selected former New York congressman Lee Zeldin to lead the Environmental Protection Agency, placing the Long Island Republican in charge of his plans to boost... 

Resolute CEO detention in Mali comes amid West Africa mining squeeze

Gold miner Resolute Mining finds itself at the center of a broad shakeup of regulatory regimes across West Africa following the detention of the company’s chief executive in Mali, as cash-strapped... 

China’s copper production boom threatens to crowd out the rest of the world

Chinese copper smelters are facing pressure to rein in an expansion that’s pounding the industry’s profitability. The viability of plants across the globe may be at stake. The top consumer of... 

Ivanhoe’s Friedland says fears for China on US tariffs overblown

China has reduced its exposure to the US economy since Donald Trump’s first administration, leaving it better placed to weather the punitive trade tariffs being pledged by the president-elect,... 

Iron-ore slumps toward $100 as China’s latest fix disappoints

Iron-ore fell toward $100 a ton as Beijing’s latest efforts to revive the economy left investors disappointed, while an expansion in Chinese port stockpiles highlighted ample supplies. Futures... 

China’s GEM and Vale plan $1.42bn Indonesian nickel plant

GEM Co., a Chinese battery-metal producer, and Vale’s Indonesian unit signed an agreement to build a $1.42-billion nickel plant in the Southeast Asian nation, highlighting the country’s drive to... 

Barrick falls behind rivals as No. 2 miner misses boost from bullion boom

Most of the world’s top gold miners have seen their shares surge this year as bullion prices hit repeated record highs. Not Barrick Gold. Missed production targets, higher operational costs and... 

China’s top coal firms lean into power as mining profit slips

China’s top coal producers are accelerating a move into power generation as fuel prices drop and electrification takes center stage in China’s low-carbon transition. Profits this year at miners...