Copper frenzy draws mining giants to Argentina after Milei’s reforms

Global mining heavyweights including Lundin Mining, Glencore and First Quantum Minerals are piling into Argentina as a new government intent on luring foreign investment propels the companies... 

BHP has a week to convince Anglo its South African plan can work

BHP Group just won an extra week to convince Anglo American on its $49-billion takeover plan. But the world’s biggest miner still must resolve the deal’s most intractable obstacle: What to do about... 

Fortescue excluded from world’s biggest hydropower plant development

A company owned by Australian mining billionaire Andrew Forrest will no longer develop the world’s biggest hydropower project in Democratic Republic of Congo, according to President Felix... 

Falling EV sales are upending banker climate strategies

Electric vehicles (EVs) have swiftly gone from a rare bright spot in the fight against climate change to a cause for concern. A slowdown in EV adoption has potentially huge implications for the... 

South Africa refiles work-permit changes to create nomad visa

South Africa’s Department of Home Affairs refiled long-awaited changes to its work-permit regime to allow for the creation of a so-called nomad visa for remote workers. The May 20 gazetting of the... 

Clock runs down on BHP’s $43bn bid for Anglo American

BHP Group has just hours to launch a blockbuster bid to buy smaller mining rival Anglo American — or put its audacious takeover plan on the shelf. The proposal by the world’s biggest miner to spin... 

Trafigura M&A head is latest top executive to retire from trader

Trafigura Group head of mergers and acquisitions Jesus Fernandez is leaving, in the latest senior departure from the commodity trading giant. Fernandez will retire after around 20 years at the... 

Southern Copper eyes start of stalled Peru mine project as soon as this year

Southern Copper hopes to begin construction as soon as this year at a once fiercely contested copper mine in Peru’s coastal mountains as socio-political tensions ease and authorities get behind the... 

Energy mogul makes 100-year bet on Argentina’s mineral wealth

Over three decades, Jose Luis Manzano built a reputation for diving into distressed sectors in Argentina and navigating tumultuous economic and political cycles to shape a portfolio ranging from... 

Zimbabwe asks miners to ramp up gold output to support ZiG currency

Zimbabwe has asked gold miners across the country to ramp up output to support the ZiG currency launched last month, according to Mines and Mining Development Minister Winston Chitando. “This new... 

Zimbabwe to start gold-tracing system in bid to curb smuggling

Zimbabwe’s sole authorized buyer of gold will introduce a system that traces supply of the metal from mines to the market in a bid to stop smuggling. Fidelity Gold Refinery’s initiative will start... 

Reserve Bank warns carbon taxes may cut exports by 10%

South African economic growth could be severely stunted if carbon taxes are widely imposed on its exports, according to a new report by the country’s central bank. The South African Reserve Bank... 

Orange, Vodacom said in talks on African infrastructure deals

Vodacom Group is in discussions with France’s Orange about a strategic partnership in Africa to explore infrastructure deals to help keep down costs on the continent, people familiar with the... 

Australian grid operator flags risk of power crunch in south-east

The chance of power shortages in Australia’s populous south-east has increased as coal-fired plants are phased out and grid and battery storage projects are delayed. Reliability risks have risen... 

Anglo shareholder LGIM supports break-up plan as BHP circles

Anglo American shareholder Legal & General Investment Management (LGIM) supports the break-up plan announced by the company last week, it said on Monday, as the deadline approaches for BHP Group to... 

Rio Tinto declares force majeure on Australian alumina cargoes

Rio Tinto Group has declared force majeure on alumina cargoes from its refineries in Queensland, Australia, due to shortages of gas to power its operations, according to people familiar with the... 

Energy’s conflict-fuelled swings aren’t over, Woodside CEO says

Energy markets will continue to be impacted by the Russian invasion of Ukraine and the Israel-Hamas conflict, according to Woodside Energy Group, Australia’s largest oil and gas producer “The... 

Copper hits record above $11 000 on bets that shortage looms

Copper surged to its highest-ever level, extending a powerful, months-long rally driven by financial investors who’ve piled into the market in anticipation of deepening supply shortages. Futures... 

Lithium miners shake up trading to tackle wild price swings

The world’s lithium miners — facing an unprecedented demand surge and wild price swings — are shaking up the way the commodity is bought and sold. As lithium emerges as a linchpin of the global... 

Gold hits fresh record as Fed rate-cut optimism fuels demand

Gold notched a fresh all-time high, as investor demand soared across the broader metals complex amid increasing optimism the US will cut rates this year. Bullion jumped as much as 1.1% to hit $2... 

BHP debates improved bid as time runs out in Anglo takeover saga

With time running out on its $43-billion pursuit of Anglo American, BHP Group faces a critical question: what would it take to draw the smaller company to the negotiating table within the next few... 

China’s top copper miner to ramp up output as supply risks mount

China’s leading copper miner raised its output guidance at a time when prices have been rallying toward a record on expected deficits. Zijin Mining Group aims to boost mined copper production to... 

Trafigura says aluminium rally is ‘over done’ as supply returns

Aluminum prices should decline by at least 6% over the next six months as supply returns to the market and high interest rates continue to crimp manufacturing demand, according to an analyst from... 

Share sales rebound 98% in Toronto as copper, gold prices surge

After a miserable year for share sales, Canada’s largest exchange is seeing a rebound thanks to mining firms raising capital as copper and gold prices have spiked. The volume of total financings... 

US to offer up to $3.4bn for nuclear fuel makers in June

The US plans to start soliciting bids worth as much as $3.4-billion to buy domestically produced nuclear reactor fuel as soon as next month, according to a government notice. The funding includes... 

Biden open to easing sanctions on billionaire Gertler in return for Congo exit

The US government is open to easing sanctions on billionaire mining magnate Dan Gertler if he gives up his business operations and assets in the Democratic Republic of Congo, where Washington’s... 

Congo demands international embargo on Rwandan mineral exports

The Democratic Republic of Congo called for an international embargo of metal exports from neighboring Rwanda, whose government it accuses of using rebel groups to steal its natural resources. All... 

Saudi’s new mining vehicle picks industry veteran as first CEO

Saudi Arabia’s Manara Minerals Investment hired veteran dealmaker Pierre Chenard to be its first permanent CEO as the mining investment firm searches for more assets. Manara, backed by the Saudi... 

AustralianSuper boosts critical minerals to A$12bn

AustralianSuper, the nation’s largest pension fund, has amassed a A$12-billion critical minerals portfolio that it plans to increase in the next five years. The A$335-billion fund is poised to... 

BHP shareholders see room for one more sweetened Anglo bid

Shareholders in BHP Group and takeover target Anglo American expect the world’s largest miner to come back with a third and improved proposal before a regulatory deadline next week, even after the... 

US blames China’s CMOC for predatory tactics behind cobalt glut

China’s CMOC Group is being accused by a top US official of using “predatory” tactics to depress prices of a key battery metal by flooding the market with cobalt from Democratic Republic of Congo... 

Plunging currencies, El Niño to delay rate cuts in African economies

Mounting price pressures from the resurgence of the dollar, foreign-currency crunches and adverse weather conditions are set to lead to delayed and shallower interest-rate cuts for African central... 

US tariffs on minerals leave out markets that China dominates

President Joe Biden just unveiled sweeping tariffs on a range of Chinese imports, including more than two dozen industrial raw materials. But the administration is being careful to avoid the... 

Anglo ditching De Beers is hard blow for troubled diamond market

The diamond industry has already been feeling the heat. Prices have slumped, Russian sanctions are threatening trade and the emergence of lab-grown gems is eating into some key traditional... 

BHP’s top Australian investor eyes restraint in battle for Anglo

Pension giant AustralianSuper, BHP Group’s largest Australian shareholder, said capital discipline was of “utmost importance” for the mining industry as investors weigh the heavyweight’s... 

Anglo-BHP battle is between two CEOs fighting over same vision

As Anglo American sets out a survival plan that echoes the vision of its suitor BHP Group, the rival mining bosses are now locked in a battle to convince shareholders they are the man for the job.... 

Mantashe warms to Anglo plan after opposing BHP bid

South Africa’s mines minister struck a conciliatory tone as Anglo American Plc announced plans to separate its platinum unit as part of a major shakeup following its rejection of two approaches... 

Korea Zinc sees US opportunities as it targets big copper growth

The world’s largest zinc smelter is planning to significantly expand its copper output, taking advantage of growth opportunities in the US as it seeks to become a leading player in the global... 

Itochu, $5.9bn South Africa ammonia plant near supply pact

A group led by Japanese trading house Itochu Corp. is nearing an agreement to buy green ammonia from Hive Hydrogen South Africa, a $5.9 billion project that could make the country a global leader... 

Copper climbs to highest in two years as bulls see deficit

Copper touched its highest level since 2022 after a powerful rally fueled by forecasts of a growing global supply deficit. The commodity’s gain since the start of January is approaching 20% with...