AMSA, IDC reopen deal talks with nonbinding offer for mills

ArcelorMittal and South Africa’s biggest development finance institution have resumed talks over the potential acquisition of the Luxembourg-based steel giant’s operations in the African country,... 

Vale’s copper ambition is to produce 1Mt/y

Vale’s base metals unit wants to eventually produce one-million tons of copper by developing existing assets, exceeding an output target for 2035. Major mining firms such as Anglo American and Rio... 

China plants another Africa marker in campaign to globalise yuan

Zambia is the first African country to let Chinese mining companies pay taxes in yuan. It probably won’t be the last, as Beijing seeks to internationalize the currency and dilute its dollar... 

South Africa’s rand set for longest winning streak since 2002

South Africa’s rand is on a weekly winning run not seen in more than two decades as elevated precious-metal prices and an improving economic backdrop drive gains. The currency is on track for its... 

China’s CMOC bets on copper growth, maintains cobalt target

Major Chinese miner CMOC Group plans copper growth of up to double digits in 2026 after a price rally lifted profit, while maintaining guidance after record cobalt output. Copper output is seen at... 

Heavy rainfall disrupts Australian metallurgical coal supplies

Heavy rainfall in northeast Australia has triggered floods that are hampering mine operations and disrupting supplies of metallurgical coal in the region. Some coal miners have declared force... 

US accuses South Africa of cosying up to Iran with naval drills

The US criticised South Africa for allowing Iran to participate in naval drills off the coast of Cape Town, after conflicting reports about the Islamic Republic’s involvement in the exercises.... 

South Africa proposes tougher laws to monitor money flows

South Africa proposed changes to laws that would give the government stronger tools to monitor money flows and impose tougher penalties on those engaging in financial crimes. The National Treasury... 

South Africa lauds US trade-pact benefits as Senate vote looms

South Africa’s government welcomed the approval of a US preferential-trade deal before a key vote in the Senate, where Pretoria has faced opposition to its continued inclusion in the pact. The... 

BHP is stuck on the sidelines of copper M&A frenzy it started

BHP Group’s bold bid to buy rival Anglo American in 2024 was supposed to set it up as the clear winner in a copper boom it had long predicted. Two years later, the copper market is indeed booming.... 

Congo sending first copper to US under Mercuria-backed venture

The Democratic Republic of Congo is sending its first shipment of copper to the US through a partnership with Mercuria Energy Group, as the Trump administration pushes to challenge China’s... 

South Africa reviews prime rate used to price R6.2tr of credit

South Africa is reviewing the main reference rate commercial banks use to price trillions of rands of loans to clients. The South African Reserve Bank is working on the prime lending rate, it said... 

Macron presses French companies to revive investment in Africa

President Emmanuel Macron called for a renewed push by French companies and financiers into Africa, arguing that excessive regulation and corporate caution have allowed rivals to displace France... 

Rio Tinto said to be open to owning coal if it buys Glencore

Rio Tinto Group is open to retaining Glencore Plc’s massive coal business if merger talks between the two companies are successful, according to people familiar with the matter. The move would... 

Glencore says it’s in preliminary merger talks with Rio Tinto

Glencore confirmed it held preliminary discussions with Rio Tinto Group on a possible combination of some of their businesses, including an all-share merger that would create the world’s biggest... 

Canada's exports to non-US countries hit record on gold

Canada’s merchandise trade balance swung back into deficit as imports of computers and electronics outweighed a spike in gold exports to non-US countries. The trade shortfall hit C$583-million... 

South Africa hosts Brics naval exercise, risks renewed US ire

Warships from some members of the Brics group of developing nations gathered in Cape Town waters for a naval exercise that places host South Africa at risk of renewed US ire. China will lead the... 

South Africa relaxes laws to salvage firms hit by power costs

South Africa eased antitrust rules to allow competitors in industries hit by high power costs to cooperate on negotiating cheaper power supply in a bid to prevent their total collapse, a move that... 

Russia recruited South Africans for its war using a gaming app

Russia targeted South African video gamers as part of a recruitment drive for its war in Ukraine, according to documents involving two men who left to fight. The men in their 20s left South Africa... 

Gold miner aims to retake Venezuela assets after Maduro’s fall

Gold Reserve has spent years fighting with Nicolas Maduro’s government over two gold deposits seized by Venezuela. Now, after the US captured the country’s leader on Saturday, the tiny mining... 

Rand rally looks sustainable as volatility nears 25-year low

Traders are just fine with the rand at its strongest level against the dollar in more than three years, volatility measures show. The South African currency strengthened 14% against the greenback... 

Copper surges to fresh record as inventories ‘locked in the US’

Copper extended a powerful rally after bursting through $13 000 a ton for the first time, as traders and investors bet on a tighter global market. Three-month futures surged as much as 2% to a... 

BHP puts Anglo in ‘rearview mirror’ as CEO eyes Canada copper

BHP Group’s top boss said he’s moving on after the company’s aborted attempt to buy Anglo American, preferring instead to focus on its copper projects and opportunities in Canada. CEO Mike Henry’s... 

Shock departure leaves Woodside without its key gas champion

The surprise exit of Woodside Energy Group CEO Meg O’Neill leaves her successor with a dilemma: should the Australian company continue down the path she set of promoting massive liquefied natural... 

How BP’s new boss became the most powerful woman in fossil fuels

Meg O’Neill’s rapid rise to the top of one of the world’s biggest fossil-fuel companies has been unencumbered by doubt. At a moment when oil executives are still being pressed to move away from... 

Top South Africa fund manager sees 2026 non-resource stock rally

Stocks of non-commodity South African companies look set to rally next year given they trade at a deep discount and trailed the performance of both local bonds and the wider equity gauge in 2025,... 

Lower inflation target set to reshape Rand’s long-term path

South Africa’s new lower inflation target is giving the rand fresh momentum, with policymakers and analysts agreeing it could curb a long-term track record of weakness. Africa’s largest economy... 

Former BHP chief Brian Gilbertson has died, family says

Brian Gilbertson, the South African dealmaker who helped build the global mining giant BHP Billiton before his departure as CEO in 2003, has died. He was 82. His family said in a statement on... 

Global solar additions to fall for first time in 2026, says BNEF

Solar installations are set to drop next year for the first time since the industry emerged as a global force two decades ago, as policy shifts and saturation in major markets temper demand. The... 

Codelco leadership in focus as Chile voters shift to right

Chileans on Sunday picked right-winger Jose Antonio Kast to head the country. Now, the mining industry is focused on who he will choose to lead state copper giant Codelco. The names of a handful... 

Barrick regains Mali mine along with 3t of its gold

Mali has restored control of the Loulo-Gounkoto mine to Barrick Minin and will return three tons of gold to the company after the two sides resolved a years-long dispute last month. The... 

Lawmakers seek halt to easing rules for Starlink

The Parliamentary committee that oversees South Africa’s telecommunications industry called for the withdrawal of a policy directive that would enable Elon Musk’s SpaceX and other... 

South Africa set for biggest cash-system overhaul in decades

South Africa’s central bank plans the biggest overhaul of the nation’s cash system in decades, moving to create a cash-management company, roll out white-label ATMs and tighten oversight of how... 

BHP venture seeks Argentina incentives for major copper project

A BHP Group venture submitted an application to join Argentina’s investment incentives programme for a project in an area it hopes will be the next major production hub for copper. The Vicuña... 

Illegal miners are digging gold at a $4.8bn Newmont site in Peru

A multi-billion-dollar gold project owned by the world’s biggest bullion producer has been invaded by illegal diggers in northern Peru, according to a top government official. Newmont Corp.’s... 

Australian lithium miner Ioneer eyes bid for Rio’s US boron unit

Australian mining firm Ioneer is interested in bidding on a bundle of Rio Tinto Group’s US assets that produce boron, a critical mineral used in fertilizer, according to its top executive. CEO... 

South Africa sued over coal plant pollution exemptions

Environmental Activists sued South Africa’s environment department over its March decision to allow State-owned Eskom to breach emission rules at eight coal-fired plants. The court case was filed... 

China’s iron-ore buyer seeks new port rules to tighten its grip

China’s State-backed iron-ore buyer is proposing measures to curb hoarding of the steelmaking ingredient at ports, in a move that could dent the pricing power of foreign miners and traders. China... 

Lithium may get much-needed demand boost from battery storage

Lithium bulls are betting on energy storage systems as the next meaningful pillar of demand for the battery metal, nudging the global market back toward balance after years of oversupply. Giant... 

South African inflation expectations fall toward 3% target

South African inflation expectations for the next two years fell in the fourth quarter, edging closer to the central bank’s new 3% inflation target. Average inflation expectations two years ahead —...