Glencore to meet with Ramokgopa in bid to save smelters

Glencore will meet with the South African government this week to seek ways to prevent smelters that make a key stainless steel ingredient from shedding thousands of jobs as they grapple with... 

US in talks to set up $5bn fund for critical mineral deals

The US is in talks to set up a $5-billion fund to invest in mining, in what would be the government’s most significant foray into dealmaking to boost supplies of critical minerals. The US... 

Shell’s fight with South African activists moves into last round

South Africa’s top court will start hearing arguments on Tuesday in a legal battle that has pitted environmental activists against one of the world’s biggest energy companies — and which may... 

Reserve Bank’s new inflation goal faces a key test

The South African Reserve Bank’s new goal of anchoring inflation at 3% faces a big test this week, with two key data points and its first policy meeting since announcing the move. A closely watched... 

A $3bn plan to bring water to Johannesburg hits opposition

A long-delayed R53-billion project that South Africa’s commercial hub is banking on to end a growing water crisis has hit fresh opposition. Communities comprising 1 600 people have filed a formal... 

Anglo American-Teck deal hinges on troubled Chile copper mine

At the heart of one of the mining industry’s most ambitious combinations is a plan to fix a problematic Teck Resources copper mine high in Chile’s Atacama desert, and ultimately to integrate it... 

Nersa apologises for R54bn tariff error

South Africa’s energy regulator apologised for a R54-billion error in calculating electricity tariffs, a mistake that will be passed on to consumers. The National Energy Regulator of South Africa,... 

IFC seeks $300m to fund electricity mini-grids in Africa

The International Finance Corporation (IFC) is setting up an entity aimed at lowering the cost of mini grids in Africa, to accelerate plans to connect 300-million Africans to electricity by 2030.... 

ArcelorMittal South Africa must be nationalised, Saftu says

South Africa’s government must “re-nationalise” ArcelorMittal South Africa to avert job losses and rebuild the country’s beleaguered manufacturing industry, according to a leader of a body that... 

Trump exempts gold, tungsten and uranium from global tariffs

President Donald Trump moved Friday to exempt graphite, tungsten, uranium, gold bullion and other metals from his country-based tariffs, while subjecting silicone products to the levies. The... 

Xi and Putin to take part in Brics Trade Summit without Modi

China has confirmed that President Xi Jinping will take part in a virtual Brics summit convened by Brazil to discuss Donald Trump’s trade policy. India’s Prime Minister Narendra Modi will skip the... 

Sars deputy commissioner tipped as new head

South Africa’s finance minister favours Johnstone Makhubu to take over as commissioner of the nation’s tax agency, according to a person familiar with the matter. The support makes Makhubu a strong... 

Zijin Gold said to plan $3bn HK IPO in world’s biggest listing since CATL

China’s Zijin Mining Group is planning to take its international gold-mining unit public in Hong Kong in an initial public offering that may fetch more than $3-billion, according to people familiar... 

Goldman Sachs says gold could surge if Fed’s credibility damaged

Gold could rally to almost $5 000/oz if the Federal Reserve’s credibility were damaged and investors shifted just a small portion of holdings from Treasuries into bullion, Goldman Sachs Group Inc.... 

AMSA takeover talks stall over valuation

ArcelorMittal's talks to sell its local unit to South Africa’s State-owned Industrial Development Corporation (IDC) are being held up by differences over the entity’s valuation, according to people... 

Peabody expects big jump in US coal demand in Trump era

Swelling US demand for electricity has the potential to boost coal consumption as much as 57%, according to mining giant Peabody Energy, in what would be a major shift for an industry that’s been... 

Australia backs coal mine extension, stoking climate backlash

The Australian government approved an extension to a Glencore thermal coal mine, sparking renewed concerns from environmental groups about the country’s efforts to tackle climate change.... 

ANC to discuss broader Central Bank role - Report

South Africa’s biggest political party, the African National Congress, will revive a debate about expanding the central bank’s mandate at a key meeting later this year, Business Day reported,... 

Lab-grown gems are robbing Botswana of its diamond riches

Across Botswana the lines of patients outside government clinics are lengthening, construction companies dependent on state jobs are firing workers and university students are threatening to... 

Tariffs turn aluminium maker Rio Tinto into buyer in US market

Rio Tinto, one of the world’s largest aluminum producers, runs a refinery and five smelters in Canada’s Quebec province, with most of the metal flowing south to the US market. Now, with President... 

Top gold miner Newmont plans job cuts in sweeping cost drive

Newmont, the world’s largest gold miner, is studying plans to drive down costs that could lead to deep job cuts, following its $15-billion acquisition of Newcrest Mining in 2023. The company’s... 

South Africa Treasury, banks fear SWIFT loss – News report

South Africa’s National Treasury and the heads of its top banks discussed the risk the country may be cut off from SWIFT, the international payments system, if US lawmakers impose sanctions,... 

South Africa plans OTC derivatives market shakeup to curb risk

South Africa’s financial watchdog is preparing new rules for the over-the-counter derivatives market that will require certain products to be cleared by a central counterparty to improve... 

South Africa urged to factor climate risk into Monetary Policy

South Africa’s central bank urgently needs to adopt a more flexible monetary-policy framework that incorporates climate-risk considerations, new research shows. “Traditional monetary policy tools... 

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...