MSC imposes war surcharge on shipments to Africa and Indian Ocean islands

Shipping company MSC said on Thursday it would implement a "war surcharge" for cargoes moving to African nations and Indian Ocean islands from the Indian subcontinent and the Gulf countries, after... 

Pentagon sought fresh supply of 13 critical minerals day before Iran attack

The US military asked mining companies last Friday to help boost domestic supplies of 13 critical minerals used to ​make semiconductors, weapons and other products, a document reviewed by Reuters... 

China unveils plan to decarbonise economy but stops short of quitting coal

China on Thursday released a new economic decarbonisation plan that seeks to put its carbon intensity reduction programme back on track, mainly by relying on its booming renewable sector to limit... 

Global jet fuel prices soar on supply concerns, Platts says

Jet fuel prices have soared globally with the Singapore rate hitting an all-time high on supply disruption concern, S&P Global Platts said on Thursday. Singapore jet fuel price hit an all-time high... 

South Africa seeks local production of Gilead's HIV prevention drug

South Africa is asking local drugmakers to start a process to make Gilead Sciences’ long-acting HIV prevention drug, lenacapavir, domestically, in a push to bring production to the region where it... 

Landslide kills over 200 people at Congo's Rubaya mine, mines ministry says

More than 200 people died on Tuesday in a landslide triggered by heavy rains at the Rubaya coltan mine in eastern Democratic Republic of Congo, the country's mines ministry said on Wednesday. A... 

Vopak delays investment on South African LNG project to 2028

Dutch tank storage and terminal operator Vopak has pushed back a final investment decision (FID) on South Africa's first liquefied natural gas terminal to 2028, a senior executive said on... 

South African financiers develop R2bn water conservation bond

South African financiers are preparing a R2-billion bond to fund water conservation projects dedicated to restoring strategic water catchments. Backed by Rand Merchant Bank and the Development Bank... 

Drugmaker Aspen targets Mounjaro approval in sub-Saharan Africa this year

Aspen Pharmacare aims to secure sub‑Saharan African approval for Eli Lilly's blockbuster weight‑loss drug Mounjaro as early as this year, its CEO said on Wednesday, capitalising on soaring regional... 

South Africa offers to mediate in Middle East conflict if asked

South Africa is willing to play a mediating role in the Middle East conflict if asked, President Cyril Ramaphosa told local media on the sidelines of an energy conference in Cape Town. "South... 

Belgian museum, US mining company at odds over colonial-era Congo archive

A US mining company backed by billionaires Jeff Bezos and Bill Gates is in a tangle with Belgium's AfricaMuseum over who should digitise antique maps of what is now the Democratic Republic of Congo... 

South Africa's business activity remains stable in February, S&P PMI shows

South Africa's private sector activity held steady in February, with the Purchasing Managers' Index holding at 50 for the second straight month, an S&P Global survey showed on Wednesday.  While... 

US strike on Iran 'ahead of game plan' but global markets rattled, energy prices soar

US forces continued a round-the-clock assault on Iran and Israel mounted a "broad wave" of strikes on Wednesday targeting Iranian missile sites and air defence systems in a campaign that a top... 

Rare Earths Norway says estimate of Europe's biggest deposit jumps 81%

An estimate of the mineral resources at a mine being developed by Rare Earths Norway, Europe's largest rare earth project, has soared by 81% since the last evaluation two years ago, the privately... 

Gold bulls say broader rally is intact despite investors' dash for cash

Gold's appeal as it draws support from the widening conflict in the Middle East is expected to remain intact even if some investors have favoured the dollar as their preferred safe haven, traders... 

Canada advocates buyers' alliance to tackle critical minerals supply concentration

Canada believes that the best way to address the issue of concentrated supply of critical minerals is through a production alliance or a buyers' club rather than just a price floor, Energy and... 

Miner Fresnillo posts annual profit surge, sets record dividend

Mexican precious metals miner Fresnillo reported a nearly 81% jump in annual profit on Tuesday, driven by higher precious metals prices, and proposed a record dividend. The company's final dividend... 

Rare Earths Norway says estimate of deposit, biggest in Europe, jumps 81%

An estimate of the mineral resources at a mine being developed by Rare Earths Norway, Europe's largest rare earth project, has soared by 81% since the last evaluation two years ago, the privately... 

Iron-ore wobbles as investors weigh rising freight costs against falling demand

Iron-ore prices wobbled on Tuesday, as investors weighed rising freight costs due to a widening Iran conflict, which is choking shipments via the crucial Strait of Hormuz, against falling demand... 

Oil rises as expanding US-Israel war with Iran heightens supply risks

Brent rose more than $3 on Tuesday for a third day of gains as the widening US-Israeli conflict with Iran and threats to shipping via the Strait of Hormuz heightened fears of supply disruptions... 

St George hikes resource estimate at Brazil rare earths Araxa project by 75%

Australia's St George Mining said on Monday that the estimated amount of mineral resources at its Araxa rare earths niobium project in Brazil has been upgraded by 75%. The estimate is a result of... 

BHP chair says Australia should look at gas, corporate tax cuts to lift productivity

Australia should invest in natural gas to lower energy prices, and review corporate tax levels to boost the nation's productivity over the coming years, Ross McEwan, chair of Australia's biggest... 

Aluminium price surge will depend on length of Strait of Hormuz disruption, Goldman Sachs says

Goldman Sachs said Monday the biggest risks to aluminium stem from potential disruptions to export routes and access to raw materials through the Strait of Hormuz, noting that the effect on prices... 

US struggling to de-risk Congo's 'war zone minerals' even after pact, sources say

The US has made progress in its push to prise Congo's strategic minerals from China's orbit, but conflict, contested licences and compliance demands are still slowing Washington's advance into a... 

Investor interest in Greenland's mining has increased since Trump's threats, mining minister says

Investor interest in Greenland's mining industry has increased since US President Donald Trump made repeated threats to annex the country, a senior Greenlandic official told Reuters on Monday. The... 

Oil prices to remain high for days with Strait of Hormuz in spotlight, analysts say

Analysts expect oil prices to remain elevated over the coming days while markets focus on the impact of escalating Middle East conflict on supplies through the Strait of Hormuz, a conduit for more... 

Airline shares fall as US-Iran conflict disrupts travel, raises oil prices

Airline shares plunged on Monday, with Hong Kong's Cathay Pacific and Australia's Qantas Airways down more than 5%, and European airline stocks indicated lower, after the US and Israel launched... 

Iron-ore gains as freight costs rise amid Iran war; shipments fall

Iron-ore prices reversed earlier losses to trade higher on Monday, as investors shifted focus to potentially higher freight rates following the Iran conflict and falling shipments from major... 

Nigeria, AFC sign $1.3bn deal to build alumina refinery

Nigeria has signed a $1.3-billion investment deal with Africa Finance Corporation (AFC) to build an alumina refinery and fund nationwide mineral exploration, the government said late on Sunday, in... 

Oil and gas prices surge as Iran war disrupts Middle Eastern output

Oil and gas prices surged on Monday following Israeli and US strikes on Iran and retaliation by Tehran that forced shutdowns of oil and gas facilities across the region and disrupted shipping in... 

Ship insurers cancel war risk cover due to Iran conflict

Several marine insurers said they are cancelling war risk cover for ships due to the conflict in Iran and the Gulf. Insurers including Gard, Skuld, NorthStandard, the London P&I Club and the... 

Dominican Republic has over 150Mt tons of rare earth deposits, President says

The Dominican Republic has identified rare earth deposits that could position the Caribbean nation as a significant future supplier of minerals critical to high-tech industries, President Luis... 

Argentina's Senate passes glacier law reform to unlock mining projects

Argentina's Senate approved on Thursday a reform to the law protecting Andean glaciers, a measure promoted by the libertarian President Javier Milei's government with the aim to unlock investments... 

India seeks to cut power sector coal imports by 30% this year, sources say

India, the world's second-largest importer of thermal coal, wants to cut those imports for power plants by at least 30%, asking them to test increased blending with domestic coal, government and... 

Ecuadorean lawmakers pass reform geared at driving mining investment

Ecuador's National Assembly on Thursday approved reforms proposed by President Daniel Noboa aimed at boosting the nation's mining sector, but that have been criticised by environmentalists and... 

MP Materials swings to Q4 profit on US government price support

Rare earths company MP Materials swung to a fourth-quarter profit, it said Thursday, exceeding analysts' expectations, driven by its price support agreement with the US government and sale of... 

Godongwana stresses need for higher growth to draw investment

South Africa's Finance Minister Enoch Godongwana said on Thursday that meeting fiscal targets alone was insufficient to draw investment into Africa's biggest economy, stressing the need for higher... 

Eagle Nuclear Energy begins trading post SPAC merger

Eagle Nuclear Energy's shares rose 14.6% in afternoon trade on Wednesday after the uranium exploration company began trading on Nasdaq following its merger with the blank-check firm, Spring Valley... 

Chile readies two fresh lithium contracts

Chile's mining ministry is preparing two new lithium contracts for submission to the national comptroller in March, advancing efforts to expand production beyond the projects initially submitted... 

South African rand steady as investors digest budget, await producer inflation

The South African rand was steady in early trade on Thursday as investors digested the annual budget, which analysts said underscored the government's commitment to restoring fiscal sustainability....