South Africa set to open first underground gold mine in 15 years

South Africa is set to open its first new underground gold mine in 15 years – an increasingly rare event for a country that was once the world’s largest producer of the precious metal. West Wits... 

Mining tycoon Rinehart joins push against costs of net zero

Mining tycoon Gina Rinehart, Australia’s richest person, has urged the country to ditch its pursuit of net zero emissions, insisting the costs of climate action will devastate sectors from... 

Rise Mzansi urges new pact to steady South Africa coalition

South Africa’s 10-party coalition government should forge a new pact that outlines shared obligations and expected conduct to avoid the internal disputes that have repeatedly threatened the... 

Ramaphosa and Putin plan call to discuss war on Ukraine, peace push

South African President Cyril Ramaphosa will hold talks with his Russian counterpart Vladimir Putin this week to discuss Moscow’s ongoing war on Ukraine and efforts to end it. Putin instigated... 

Nurol said to eye Alamos’ Türkiye mines stuck in $1bn claim

Türkiye’s Nurol Holding is seeking to buy Alamos Gold Inc.’s local mines in a deal that could bring an end to the Canadian miner’s $1 billion claim against the government for alleged mistreatment.... 

Zambia assures public water is safe after mine-pollution spill

The Zambian government sought to calm public concerns about pollution levels after a study found that the damage done by a disaster at a Chinese state-owned copper mine in February was much larger... 

Key data suggests South Africa GDP grew for third straight quarter

South Africa’s economy probably expanded for a third successive quarter, buoyed by recoveries in the key manufacturing and mining sectors, although US tariffs now pose a fresh challenge to growth.... 

South African govt, AMSA locked in talks over key mill’s fate

South Africa’s government is locked in crisis talks with the local unit of ArcelorMittal to decide the fate of the company’s loss-making construction-steel mill, people familiar with the matter... 

Chinese copper maker an unlikely winner from Trump’s tariffs

One of China’s biggest copper fabricators is set to reap a windfall from President Donald Trump’s efforts to boost US production of the metal. Zhejiang Hailiang Co., a major manufacturer of copper... 

Glencore shakes up trading team with head of coal to exit

The head of Glencore's huge coal-trading operation is leaving in the biggest shake-up of the company’s trading unit in years. The news comes after Glencore, an historic name in commodity trading... 

UK resets ties with Zimbabwe in push for critical minerals

Zimbabwe and the UK are rekindling diplomatic ties after almost three decades of tension, driven by a global surge in demand for critical minerals that’s led the former colonial power to pursue... 

Kganyago says CPI near 3% seen yielding lower rates

South African Reserve Bank Governor Lesetja Kganyago said inflation is expected to quicken over the next couple of months before cooling and that if it holds at current levels its forecasts predict... 

US hits gold bars with tariffs in blow to Switzerland, FT says

The US government has placed tariffs on imports of one-kilogram gold bars, threatening to shake up the bullion market and dealing a blow to Swiss trade, the Financial Times has reported. The... 

Codelco collapse was likely caused by mining rather than nature

The seismic event that caused a fatal collapse at Codelco’s biggest mine in Chile is likely to have been caused by mining activity rather than nature, according to a person with direct knowledge of... 

Copper market to feel impact of accident in Chile

Codelco stopped processing ore at its biggest copper mine in Chile after a deadly tunnel collapse July 31 prompted a halt of underground activities. The El Teniente complex ran out of stockpiled... 

Africa’s critical minerals key to clean-energy drive, AFC says

Africa’s role in the global pivot toward cleaner sources of energy should focus on increasing the supply of critical minerals needed to make the transition, rather than on reducing its own... 

US to pursue seabed mining with Cook Islands after China pact

The US has entered talks with the Cook Islands to develop seabed mineral resources, just months after the South Pacific nation formalized cooperation pacts with China that included exploration for... 

Platinum crunch comes to a head as US, China snap up metal

A years-long supply crunch in platinum has come to a head, with banks scrambling for dwindling stocks in London as buyers in China and the US hoover up much of the available metal. The market... 

Mantashe, Sibanye-Stillwater clash over US minerals plan

A proposal by South Africa’s biggest mining company and other business leaders advising President Cyril Ramaphosa on how to offer the US access to Africa’s critical minerals angered the nation’s... 

South Africa plans jail time, fines under new emissions rules

South Africa will seek jail time, fines and higher taxes for breaches of proposed rules to govern carbon emissions that will apply to almost all sectors of the economy. The proposed regulations,... 

Copper rises as Chile stoppage stirs fresh concerns about supply

Copper rose for a second day as Chilean mining giant Codelco grappled with the aftermath of a deadly accident at one of the world’s biggest underground mines. Six people were killed in a tunnel... 

Greer says US-China talks 'about halfway there' on rare earths

US Trade Representative Jamieson Greer sounded a cautiously optimistic note on discussions with China on rare earth flows, following trade talks that further steadied ties between the economies.... 

Vale says ERG Brazil mine investment still not adding up

Top iron-ore producer Vale continues to weigh an investment in Eurasian Resources Group’s Brazilian mine project, but says it has not yet found a cost-effective way to develop it. “The volume of... 

Most South African small firms at risk of collapse, survey finds

More than half South Africa’s small businesses don’t expect to survive for more than a year, a survey backed by lender Absa Group found. Some 53% of the 1 600 entities canvassed for the inaugural... 

Copper ‘lotto tickets’ pay off after Trump shrinks from tariffs

Options traders who bet the Trump administration would renege on its promise to tariff raw copper imports are cashing in big. On Wednesday evening, more than 31 000 contracts went from... 

The world's biggest iron-ore windfall is fading for Australia

Flying deep into the heart of Western Australia, Rio Tinto Group executives, politicians and media step off a chartered jet into a Pilbara airport, little more than a sunbaked shed with metal... 

Vedanta misses quarterly profit estimates on weak aluminium prices

Indian metals-to-oil conglomerate Vedanta missed quarterly profit estimates on Thursday, as lower aluminium and copper prices and higher tax expenses overshadowed the impact of strong local... 

South Africa urged to sweeten US trade deal before tariff deadline

The US urged South Africa to improve its trade offer as Pretoria waits to hear what tariff US President Donald Trump will impose on its exports to the world’s largest economy. South Africa hopes to... 

Lithium miners sound alarm as EV struggles pile on pressure

A slew of corporate reports from Australian lithium producers has thrown a fresh spotlight this week on an industry riven by write-downs, cost controls and hard choices as the world’s... 

South Africa set to cut interest rates as tariff details awaited

The South African Reserve Bank (SARB) is poised to extend its longest easing cycle since 2019 on the eve of stiffer US trade tariffs, which are likely to weigh on the country’s already sluggish... 

Bain shuts scandal-tainted South African consulting business

Bain & Co. is closing down its consultancy business in Johannesburg, likely bringing to an end a years-long battle to try and restore its reputation in Africa’s biggest economy following a 2022... 

Fidelity says $4 000 gold possible as Fed cuts and dollar drops

Gold could hit $4 000/oz by the end of next year as the Federal Reserve lowers interest rates to cushion the US economy, the dollar drops, and central banks keep expanding holdings, according to... 

Karpowership plans floating data centers to meet AI demand

Karpowership, a Turkish company that builds floating power plants, is expanding into waterborne data centers in a bet they’ll be faster to build than onshore hubs as demand from artificial... 

Bank of America sees South African inflation target by end of 2027

South Africa’s move to a lower 3% inflation target may be phased in by the end of 2027, potentially resulting in official interest rates moderating to below 6%, Bank of America said. “We think... 

Three miners freed from Newmont mine after 60 hours underground

Three miners who were trapped behind fallen debris at a Canadian gold mine are safely back on the surface after what Newmont called a “meticulously executed” rescue plan. Three Hy-Tech Drilling... 

Treasury seeks to supplement FX borrowing programme

National Treasury invited proposals on “innovative and cost-efficient” ways to supplement the government’s foreign-currency borrowing programme in the current fiscal year. The initiative is aimed... 

Congo is targeting cobalt price that boosts local processing

The Democratic Republic of Congo is seeking a cobalt price that encourages domestic processing, as the government considers its next steps to follow a ban on exports of the battery metal, according... 

Prasa, union reach wage deal

The Passenger Rail Agency of South Africa and its key union reached a wage agreement that will see a 5.5% increase in workers’ pay across the board. The United National Transport Union and Prasa... 

Latest Teck setbacks in Chile underscore copper supply struggles

Teck Resources’ lowered production guidance for its flagship Chilean mine in the latest setback to the Canadian company’s efforts to join the copper big leagues. The sprawling Quebrada Blanca... 

Six university students drown at Zhongjin gold mine in China

Six students from a Chinese university died during a visit to a mine owned by Zhongjin Gold in Inner Mongolia, northern China. The students from Northeastern University in Shenyang, Liaoning...