South Africa steel needs demand not belligerence, regulator says

The key to rescuing South Africa’s ailing steel industry, in which a unit of ArcelorMittal South Africa (AMSA) is feuding with smaller competitors, is by growing demand rather than fixating on... 

Kganyago says war inflation risks are playing out

Reserve Bank Governor Lesetja Kganyago said the Iran war’s impact on oil prices has validated wariness over inflation, without giving a clear signal on what that means for interest rates. “You are... 

LME at record high on aluminum 'black hole' fear

Industrial metals have jumped to a record high on the London Metal Exchange (LME), driven gains in aluminum after the Middle East war disrupted supplies, as well as a recent revival in copper. The... 

Kganyago cites Zulu War to signal preemptive inflation move

South Africa’s central bank governor referenced an 1879 battle in the Anglo-Zulu war in his views on how to tackle the coming wave on inflation from the Iran war shocks, implying a preference to... 

Musk row shows gap with Ramaphosa in South Africa equity rules

President Cyril Ramaphosa said billionaire Elon Musk could use equity-equivalence programmes to meet South Africa’s racial-equity rules and roll out his Starlink internet service locally, pointing... 

Billionaire Gina Rinehart partly loses iron-ore legal battle

Hancock Prospecting, the private company of billionaire Gina Rinehart, has partly lost a decade-long legal battle with Wright Prospecting over royalties, but will retain ownership of a major... 

Vivo Energy converting Durban refinery into fuel storage hub

Vitol Group’s Vivo Energy is building fuel tanks at a former Durban refinery site to become a leading South African storage hub, buffering the import-dependent nation from oil market shocks.... 

Adnoc in advanced talks to buy Shell’s South Africa petrol stations

Shell is in advanced talks with Abu Dhabi National Oil Co (Adnoc) to sell its retail fuel stations in South Africa, according to people with knowledge of the matter. Adnoc emerged as the preferred... 

Asian LNG imports plummet to six-year low on Middle East crisis

Asian liquefied natural gas imports have dropped to the lowest in almost six years as the conflict in the Middle East chokes supplies and forces buyers to curb consumption. The 30-day moving... 

EU, US considering critical minerals deal to combat Chinese control

The European Union and US are nearing an agreement to coordinate on producing and securing critical minerals, as part of a push to break reliance on Chinese supplies. The potential deal would... 

Iron-ore slides after incoming BHP chief sighted in Beijing

Iron-ore slid to its lowest in a month after a report that BHP Group’s incoming CEO had met with Chinese executives in Beijing this week, a possible sign that frosty relations between the mining... 

Barrick willing to shuffle assets as it eyes North American spinoff

Global miner Barrick Mining Corporation plans to reduce its exposure to higher-risk jurisdictions and signaled openness to top-tier acquisitions, as it prepares to spin off its prized North... 

South Africa accredits new US envoy amid tensions with Trump

South African President Cyril Ramaphosa accepted new US Ambassador Leo Brent Bozell’s credentials, a month after the diplomat was issued with a formal reprimand for criticising the government and... 

Goldman warns on copper as Iran war threatens global economy

Copper is vulnerable to further declines if the Strait of Hormuz remains blocked, Goldman Sachs Group warned as metals markets brace for President Donald Trump's deadline for Iran to agree a deal... 

Iran amplifies LNG shortage by blocking passages through Hormuz

Iran has yet to allow a single carrier loaded with liquefied natural gas (LNG) to pass through the Strait of Hormuz in weeks of war, according to traders involved in the transit, a ban that risks... 

South Africa tax collection beats estimate despite tough climate

South Africa’s tax collection modestly beat estimates, boosted by stronger contributions from companies, personal income receipts and value-added tax, preliminary data show. The South African... 

Australia passes law to trade, stock fuel alongside rare earths

(Bloomberg) -- Australia’s parliament passed legislation empowering the country’s export credit agency to physically buy, stockpile and sell fuels alongside critical minerals including rare earths,... 

Iran conflict clouds South African economic outlook, Sarb says

The Iran war has clouded the outlook for a South African economy that had entered its longest period of economic expansion since 2018, the country’s central bank said. “The buoyant performance of... 

South African stock index is heading for worst month since 2008

Johannesburg’s benchmark stock index is heading for its worst month in almost two decades, reeling from a double hit as the Iran war saps demand for emerging-market assets while plunging... 

S Africa appoints Thage to embassy in Washington – Report

South Africa appointed career diplomat Thabo Thage as its so-called minister plenipotentiary to Washington as it finalises the selection of a permanent ambassador, Business Day reported. The... 

Eldorado Gold plan to buy Foran opposed by Glass Lewis

A key proxy adviser firm recommended Eldorado Gold investors vote against its C$3.8-billion bid for Foran Mining, the latest roadblock after Eldorado’s third-largest shareholder called the takeover... 

Iran war’s gas supply shock pushes top consumers back to coal

A deepening conflict in the Persian Gulf has upended oil and gas markets. It may also have provided coal — the dirtiest fossil fuel — with its most significant boost in years. Climate negotiators... 

Codelco sees war disruptions adding 5% to cost of making copper

Top copper supplier Codelco expects disruptions from the Middle East war to lift its production costs by about 5%, offering one of the first quantified inflation estimates from a major mining... 

Ramaphosa backtracks on US role in G7 Summit snub

South Africa walked back its claim that US pressure led to its disinvitation from an upcoming Group of Seven summit in France. Pretoria’s presidency spokesperson, Vincent Magwenya, had said on... 

US urged France to revoke South Africa G7 invite, Pretoria says

France withdrew an invitation for South Africa to attend a summit of Group of Seven leaders in June following pressure from the US, President Cyril Ramaphosa’s office said. Leaders of the world’s... 

Fortescue chair urges China to end iron-ore buying strategy

Fortescue's executive chairman Andrew Forrest said China’s state-backed iron buyer should stop using tactics aimed at negotiating lower prices for the key steel ingredient. Speaking Wednesday on... 

Eskom ordered by court to disclose coal, diesel contracts

Eskom Holdings said it has been ordered by the Supreme Court of Appeal to disclose details of its coal, transport and diesel procurement contracts to activist group Afriforum. South Africa’s state... 

Zijin’s Congo lithium mine set to be among world’s biggest

The lithium mine Zijin Mining Group plans to open this year in the Democratic Republic of Congo is set to be one of the world’s biggest suppliers of the battery metal. The Chinese company – which... 

BHP sees potash heading toward deficit as demand outpaces supply

BHP Group, the world’s largest mining company, expects the global potash market to tighten over the next decade as demand grows and geopolitical risks strain fertilizer supply chains. With demand... 

Fuel crunch from war threatens South African wheat, corn crops

Farmers in South Africa are heading into the winter planting season with surging diesel prices and tightening supplies – triggered by the Middle East conflict – threatening production in... 

Zijin Gold acquires control of Chinese rival for $2.6bn

The gold unit of Zijin Mining Group Co. will acquire a controlling stake in Chifeng Jilong Gold Mining Co. for 18.26-billion yuan ($2.64-billion), cementing the group’s status as China’s top miner... 

De Beers makes sweeping cuts to its elite diamond-buying club

De Beers has made one of the deepest ever cuts to its group of handpicked diamond buyers as the former monopoly grapples with a prolonged crisis roiling the industry, people with knowledge of the... 

Peru proposal to limit idle concessions sparks mining pushback

Peru’s mining industry is warning that a bill moving through Congress to halve the time to hold unused concessions would end up discouraging investment and favoring informal operators. “It’s a... 

South Africa’s economic hub ‘trapped’ in stagnation, report says

Gauteng, the South African province that’s home to Johannesburg and the capital Pretoria, is struggling to grow and its shift from manufacturing and mining to a services hub is deepening... 

Zijin’s investment unit aims to expand strategic metal portfolio

Zijin Mining Group, China’s biggest gold and copper producer, wants to invest in metals like tungsten and uranium, as the global bid to secure critical minerals drives prices higher. “We are... 

BHP’s next leader faces same problems in deal-obsessed industry

BHP Group has picked the continuity candidate for its next boss: A life-long company man who has spent quarter of a century at the biggest miner, honing his skills in iron-ore and copper, its most... 

Eskom offers 6.5% pay raise in fourth talks round

Eskom has offered labour groups an annual wage increase of as much as 6.5% in a fourth round of negotiations that have dragged on for months. The State-owned power utility tabled a three-year deal... 

Cobalt shortages driven by Congo curbs seen lasting through 2030

A global cobalt shortage is expected to persist through the end of this decade as export restrictions from top producer Democratic Republic of Congo impact the supply chain, according to trading... 

Morgan Stanley says South Africa to stay on prolonged rate hold

Surging oil prices triggered by the Middle East conflict is likely to push South African inflation higher and see policymakers keep interest rates unchanged for months, according to Morgan Stanley.... 

Munitions metal tungsten outshines gold, copper in 557% rally

A metal used in weapons and semiconductors is finding itself the subject of geopolitical tensions as Chinese export limits and rising military demand squeeze supplies, sending prices to record...