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Iron-ore gets second weekly boost on hopes of supply-side reform
Iron-ore headed toward the highest close since May as China’s renewed focus on supply-side reform lifted expectations for the country’s steel market. Futures of the steel-making ingredient were on...
Copper snags in Peru highlight rising clout of informal miners
Copper transport disruptions this week in Peru underscore the growing impact of informal mining on global mining corporations that operate in the Andean nation. Frustrated by regulatory...
Gold set for weekly gain as investors weigh rates, trade impact
Gold remained on track for a weekly gain despite falling on Thursday, as investors weighed lower odds for Federal Reserve interest-rate cuts as well as lingering concerns about the outlook for...
Canada goods trade deficit narrows on higher gold shipments
Canada’s share of exports destined for the US shrank to the smallest proportion since at least 1997, excluding the Covid pandemic. Shipments to other countries reached a new high, led by gold...
Gold’s record rally ignites fundraising spree for China miners
A wave of Chinese gold miners is pushing to raise funds in Hong Kong, seeking to capitalise on rising investor interest in the metal during a record-setting rally that’s made it a standout...
Mineral smuggling from Congo to Rwanda at ‘unprecedented levels’, UN says
Mineral smuggling from eastern Democratic Republic of Congo into neighbouring Rwanda has reached “unprecedented levels” amid the occupation of a large swath of the region by Rwanda-backed M23...
Rio Tinto-backed aluminium firm to invest $1.1bn in Canada project
Aluminerie Alouette, an aluminium maker that’s partially owned by Rio Tinto, is planning to commit as much as C$1.5-billion ($1.1-billion) to modernising its facilities in northern Quebec,...
AfDB cuts South Africa growth outlook by half on trade concerns
South Africa must accelerate structural reforms to offset global challenges that include US President Donald Trump’s trade war, the African Development Bank said as it cut the nation’s economic...
Treasury warns against changing Sarb ownership
Changing the ownership structure of the South African Reserve Bank could generate fears among investors about expropriation and create more uncertainty about property rights, according to the...
Beijing braces for US trade deals that seek to shut out China
The trade truce between Washington and Beijing may be holding for now, but China is increasingly wary about what’s happening elsewhere: US efforts to forge deals that could isolate Chinese firms...
South Africa inflation expectations drop to near four-year low
South African inflation expectations fell to an almost four-year low, providing policymakers with another reason to press ahead with their easing cycle. Average inflation expectations two years...
Peru copper transport disrupted as informal miners block roads
Roadblocks by informal miners are disrupting transport of copper from some mines in Peru, including those owned by MMG and Hudbay Minerals, said people briefed on the matter. Artisanal miners are...
Vitol launches mine finance fund as competition grows for metals
Vitol Group and Breakwall Capital have formed a credit fund targeting mining companies in the Americas, as competition among traders for copper and other metals contracts heats up. Valor Mining...
Bessent says US hopes to see China magnets flow at ‘faster rate’
Treasury Secretary Scott Bessent said the US is hopeful China will do more to ease the export of rare earth magnets after last month’s deal between the two countries, saying flows had still not...
Gold helps Canada’s stocks benchmark outshine the S&P 500
Despite ongoing trade tensions and a weakening economy, Canada’s main stocks benchmark outshone its US counterpart in the first half thanks to a record-breaking gold rally. The S&P/TSX Composite...
Russia base metals sales to China surge, signaling deep reliance
Russian base metals sales to China surged in the first five months of 2025, underscoring its economic dependence on its Asian neighbor even as the country seeks to diversify trade. Russian...
Kganyago sees inflation-target work complete soon
A review of South Africa’s inflation target by the National Treasury and the nation’s central bank is close to completion, Governor Lesetja Kganyago said. “It should be very soon that it’s...
Top cobalt trader declares force majeure after Congo export halt
The trading unit of CMOC Group — the world’s biggest producer of cobalt — has declared force majeure on deliveries of the battery metal, after the Democratic Republic of Congo extended a ban on...
Codelco sticks to SQM lithium deadline as deal opposition mounts
Chilean State mining company Codelco is on track to finalize a landmark deal with lithium supplier SQM well before the next government takes office next year, a company official said Monday. Amid...
Rand strengthens as South Africa’s coalition avoids collapse
South Africa’s currency gained after the nation’s fractious ruling coalition weathered its latest storm when a key partner opted to remain in the government. President Cyril Ramaphosa fired the...
Kganyago bolsters case for lower inflation target
South African Reserve Bank Governor Lesetja Kganyago reinforced his argument for adopting a lower inflation target, noting that the current goal hurts the rand and allows prices to march higher....
Musk’s Starlink eyes R2bn South Africa investment
Billionaire Elon Musk’s Starlink, in a potential workaround of South Africa’s Black-empowerment rules to gain an operating license, may invest about R2-billion in the country, Business Day reported...
First Quantum starts shipping stockpiled copper from Panama mine
First Quantum Minerals has started shipping stockpiled copper from its stalled mine in Panama, 19 months after the operation was shut down by the country’s top court. A bulk carrier called Lipsi...
Vale’s new CEO aims to make Brazilian miner the world’s biggest
The new head of Vale has laid out one of the Brazilian company’s most ambitious goals — becoming the world’s biggest metals producer by market capitalisation. “It has to be the biggest mining...
Australia cuts commodity export outlook despite gold price gain
Australia cut its forecast earnings from commodity exports, as a meteoric rise in gold prices fails to offset weakness in iron-ore and natural gas. Total resource and energy export earnings fell...
Gabon, Afreximbank sign $3.8bn accord on manganese, gold
Gabon’s government signed a $3.8-billion memorandum of understanding with the African Export-Import Bank to fund the development of manganese, gold trading, energy and rail infrastructure. The...
South African stocks poised to extend golden first-half rally
South African stocks are heading for their best first-half performance in almost two decades, and precious-metal prices could pave the way for further gains. The FTSE/JSE Africa All Share Index is...
Wars, Trump and climate malaise: Brazil braces for a tough COP30
As climate delegates walked into Bonn’s World Conference Center on the first Monday after the US attack on Iran’s nuclear sites, they were serenaded on loudspeaker by Doris Day’s “Que Sera Sera.”...
Ramaphosa accused of ‘double standard’ in Whitfield saga
President Cyril Ramaphosa fired a deputy minister from the second-largest party in the ruling coalition on Thursday, a move that renews strain on the stability of his administration. Ramaphosa...
Gold heads for weekly loss as Middle East truce saps demand
Gold headed for its second consecutive weekly loss, after a ceasefire between Israel and Iran dented demand for havens. Bullion edged lower early in Asia to around $3 315 an ounce and was down...
Informal mining boom is biggest fear for Peru's copper investors
The biggest threat to Peru tapping more of its giant copper deposits is rising informal and illegal mining activity, according to the head of the country’s main industry association, SNMPE. Peru...
South Africa to put in place online mining rights portal in July
South Africa plans to unveil a new online mining registry next month, a long-delayed move toward greater transparency that should help boost investor interest in funding exploration projects. The...
South African consumer confidence recovers in second quarter
South African consumer confidence recovered in the second quarter as a proposed increase in consumer taxes was scrapped and an impasse in the coalition government over the budget ended. A quarterly...
Canada Energy Minister seeks Indigenous equity in major projects
As Prime Minister Mark Carney’s government prepares to plow forward on major new energy and infrastructure projects, his natural resources minister says he wants Indigenous groups to pursue large...
Miner OceanaGold sees ‘boring’ dual-listing boosting shares
OceanaGold is eschewing common investment banking advice and pursuing what the company’s CEO thinks is a winning strategy: A “boring” US listing without selling additional shares. Vancouver-based...
South Africa posts first successive primary surplus in 16 years
South Africa achieved its first back-to-back primary budget surplus in 16 years, signalling its commitment to fiscal discipline. Africa’s most-industrialised economy posted a primary surplus —...
Mali says State working on resuming output at Barrick gold mine
Mali said a temporary administrator will restart production at Barrick Mining Corp’s Loulo-Gounkoto gold complex, which was put under provisional administration earlier this month. A dispute...
Greenland miner eyes US, EU deals after Trump boosted interest
Greenland’s biggest miner Amaroq Minerals is in talks with several state-backed agencies as Donald Trump’s political spotlight translates into concrete investor interest, the company’s chief...
Copper extends gains as Goldman sees 2025 price peak in August
Copper extended gains for a fifth day, after Goldman Sachs Group said it expected prices to rise to a 2025 peak of around $10 050 a ton in August, as supplies outside the US tighten. Traders of...
Gold holds decline as Israel-Iran ceasefire cuts haven demand
Gold held a decline, which was triggered by a reduction in Middle East tensions as a shaky Iran-Israel ceasefire appeared to hold, cutting haven demand. Bullion traded little changed at around $3...
Carney says Canada can hit new C$150bn NATO bill with mines
Prime Minister Mark Carney said Canada can meet a steep expected increase in its North Atlantic Treaty Organisation obligations spending partly by leaning on the country’s bounty of critical...
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