US copper buyers seen paying a high price for Trump’s tariff

US buyers of copper will pay a high price if President Donald Trump pushes ahead with a 50% tariff on refined metal as opposed to copper products such as wiring, according to officials in Chile.... 

Philippine miner sees surge in nickel shipments to Indonesia

Nickel ore shipments to Indonesia from the Philippines are expected to surge this year to meet demand from Chinese-owned refineries affected by Jakarta’s curbs on domestic production, according to... 

Mozambique’s $57bn of LNG projects get reboot despite risk

Four years after terrorist attacks halted a massive liquefied natural gas project in Mozambique, momentum behind $57-billion in facilities that will export the fuel is picking up. TotalEnergies SE... 

Ecuador court to decide on fee that mining industry says imperils drilling

Ecuador’s government and its fledgling mining industry are heading into a legal battle over a controversial fee announced last month. The industry sees the measure as a tax that will stymie... 

Top CEOs want Canada to build a strategic minerals reserve for defence

Canada should become a world leader in producing and processing raw materials for military equipment and defense systems, according to an influential business group. The Business Council of Canada... 

Vedanta Base Metals CEO Griffith quits amid debt, short-seller woes

Vedanta Resources, the Indian mining conglomerate of billionaire Anil Agarwal that was targeted in a short-seller’s report, has lost the top executive of its base metals business, according to... 

African Central Banks weigh policy options amid Trump’s tariffs

Key African economies are set to stake out different approaches to interest rates in the coming weeks as they gauge the impact of US President Donald Trump’s new tariff proposals and their domestic... 

Trump says 50% tariff on copper imports to take effect Aug 1

President Donald Trump said the US would begin levying a 50% tariff on copper imports from August 1, confirming a move that will batter producers of everything from automobiles to homes and... 

Copper squeeze unravels with window closing to beat Trump tariff

An acute copper supply squeeze is coming to an abrupt end as President Donald Trump’s plan to soon slap a 50% tariff on the metal narrows the window to profit from surging US prices. Key spreads on... 

Trump to host African leaders offering major mining ventures

US President Donald Trump is scheduled this week to meet the leaders of five African nations that will potentially offer American businesses opportunities in critical minerals and other natural... 

South Africa to tap private firms to revamp crumbling courts

South Africa’s Department of Justice and Constitutional Development will heed advice from the finance minister and ask private companies to help revamp dilapidated court buildings due to budget... 

South Africa’s low growth leaves citizens poorer than global average, Investec says

South Africa’s anaemic economic growth since 2010 has left its population significantly poorer than the global average, according to Investec Wealth & Investment International. “You can see a... 

Liberia and Ivanhoe Atlantic sign $1.8bn deal for railway

Liberia and Ivanhoe Atlantic Inc. have signed a $1.8-billion agreement that’ll allow the US mining company to rehabilitate and use the country’s railway infrastructure to transport iron ore from... 

Smelter mishap stokes shutdown push at top copper miner Codelco

A recent mishap at a century-old copper smelter owned by Codelco is stoking debate over the pros and cons of shutting it down as a global smelting glut puts pressure on old, high-cost plants. Some... 

Impala Platinum to close Canada palladium mine

Low palladium prices are forcing Impala Platinum Holdings to shut down its mine in Canada, putting 750 jobs at risk. The Lac des Iles mine is about 1 500 km northwest of Toronto. Impala Canada... 

Canadian mining magnate seeks US projects as Trump deregulates

Canadian mining magnate Frank Giustra is scouring for projects in the US as President Donald Trump cuts red tape and the outlook for metals like copper and gold remains bright. Giustra — a key... 

Trafigura prepays $200m to snap up Ivanhoe’s Congo copper

Trafigura Group agreed to pay $200-million for copper anodes from an Ivanhoe Mines smelter in the Democratic Republic of Congo that’s due to start up in September. Trafigura signed the prepayment... 

Australia’s Albanese heads to China as Trump stresses alliance

Australian Prime Minister Anthony Albanese plans to travel to China from this weekend, seeking to strengthen ties with his country’s largest trading partner while its top security ally US aims to... 

Banks plough billions into coal ‘as if Glasgow never happened’

Global banks channeled more than $385-billion to the coal power industry over the past three years, with annual flows increasing last year from 2023, according to analysis by a group of nonprofits.... 

Gold miner Aura Minerals seeks $210m US listing

Aura Minerals is seeking to raise about $210-million in a US listing, as the gold and copper miner looks to expand its investor base. The company, which already trades on exchanges in Canada and... 

US warns of blackout risk from killing coal as Trump snubs renewables

Blackouts in the US could double by 2030 amid an expected increase in power demand brought on by AI, according to a Trump administration report that blames the expected energy shortfall on the... 

Mexico criminals rob truck full of gold, silver concentrate

Armed thieves robbed a truck carrying 33 tons of gold and silver concentrate belonging to Grupo Minero Bacis, costing the company millions of dollars in losses. Assailants blocked the semi-truck... 

Trump sets Aug 1 start for tariffs ahead of Wednesday deadline

US President Donald Trump plans to announce trade deals and deliver tariff warnings on Monday, as countries negotiated through the weekend to avoid the highest punitive measures on their exports to... 

JPMorgan, Goldman Sachs see more upside for South African stocks

South African stocks are poised to extend their rally in the second half, buoyed by an improving outlook for the domestic economy and supportive monetary policy, according to JPMorgan Chase & Co.... 

Trump tariffs sour the fortunes of South Africa’s citrus farmers

Walk down the aisles of a Trader Joe’s or Whole Foods Market in the US, and chances are many of the piles of oranges, lemons, limes and grapefruit will be labelled “Produce of South Africa.” They... 

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...