South Africa’s post-election wrangling leaves investors in limbo

Investors braced for further upheaval in South Africa’s financial markets in the wake of last week’s elections that produced no outright winner, with the outcome of ongoing coalition talks... 

The home of Malbec wine makes a play for copper in Argentina mining revival

Argentina’s Mendoza province, known for Malbec vineyards that draw tourists from across the world, is moving to spur exploration of its copper deposits long shunned by prospectors due to... 

Hope and angst grip South African markets as coalition era dawns

Election results from South Africa have left investors swinging between anxiety over the different permuations that coalition may take and lingering hopes that whatever it is will result in a... 

Chile hopes SQM-Codelco deal to proceed as planned, Finance Minister says

Chile’s government indicated that SQM and Codelco will proceed with the signing of a binding lithium partnership by Friday’s self-imposed deadline even as the deal faces mounting headwinds. “We... 

US tariffs on minerals leave out markets dominated by China

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... 

SARB holds rates in shadow of election

The South African Reserve Bank (SARB) left borrowing costs unchanged, delivering the widely expected verdict one day after the nation held pivotal elections. The monetary policy committee kept its... 

Aluminium hits two-year high as China capacity limits help rally

Aluminum extended gains to a two-year high after China, the biggest producer, tightened capacity controls across an array of metals to meet emission-cutting goals. The light metal used in... 

Billions in African gold smuggled to UAE yearly, SwissAid says

Billions of dollars of gold is smuggled out of Africa every year, with the vast majority exported to the United Arab Emirates for processing, according to a report by SwissAid. Using data on... 

South Africa to stay course on rates amid election noise

South Africa’s central bank is set to leave interest rates unchanged, staying the course in the inflation fight amid political uncertainty one day after the country’s tightest election in 30 years.... 

Glencore to consult investors on coal spinoff after Teck deal

Glencore will start consulting with shareholders on the future of its coal business as soon as its deal to buy Teck Resources’ mines closes later this year. Crucially, Glencore said that should... 

China’s silver imports set to jump as solar demand lifts prices

Chinese silver imports could surge in coming weeks, as traders take advantage of a jump in demand that’s taken prices well above the international market. Silver’s in a sweet spot because of its... 

Mongolia defends plan to tap mining riches for new sovereign wealth fund

Mongolia’s prime minister defended changes to the country’s mining laws after foreign investors raised concerns they could deter investment in its large reserves of critical minerals, including... 

Europe’s biggest pension fund sells €10bn in fossil fuels

Europe’s biggest pension fund, Stichting Pensioenfonds ABP, has exited all liquid assets in oil, gas and coal worth about €10-billion, in an effort to be greener. The last shares and bonds owned... 

EU, Australia sign critical minerals pact to diversify supply chains

Australia and the European Union have struck an agreement to boost cooperation and investment in critical minerals, part of a drive by Western nations to loosen China’s grip on supply chains of... 

CEF's Sapref refinery purchase raises clean-up concern

South Africa’s purchase of the nation’s largest refinery from Shell and BP for a symbolic R1 will transfer the environmental liability of the site to the government, according to a local advocacy... 

JPMorgan says BHP plan risks $4.3bn South Africa outflow

A successful takeover of Anglo American under the arrangements BHP Group has offered could lead to outflows of $4.3-billion from South Africa, according to a JPMorgan Chase & Co. analysis. Such an... 

China defies global copper squeeze with near-record production

The global copper market is gripped by fears of a shortage, which has propelled prices to record levels and sparked a $49-billion takeover battle. But in China, the world’s biggest producer and... 

DBSA is working on transmission auction office

The Development Bank of Southern Africa (DBSA) is negotiating with government ministries to establish an office that will manage auctions of transmission projects, a senior official at the... 

Adnoc, Aramco said to mull bids for Shell South Africa assets

Abu Dhabi National Oil and Saudi Arabia’s state oil producer Aramco are among companies weighing bids for Shell’s downstream assets in South Africa, according to people familiar with the matter.... 

Crime, corruption keep South Africa’s S&P rating in check

S&P Global Ratings said it is closely monitoring the outcome of South Africa’s elections next week and subsequent government policies to address issues from crime to energy supply that have... 

Large Anglo shareholders are backing miner’s stance on BHP talks

Several of Anglo American’s big shareholders have said they support the company’s efforts to persuade BHP Group to change the structure of its takeover proposal or compensate for the risks it... 

Pakistan coal miners face expansion issue as China stops funding

Chinese and other major lenders are increasingly reluctant to invest in Pakistan’s expansion of coal mines, according to the head of a local producer. “The real challenge for us is financing,”... 

Zimbabwe state miner says lithium assets attract investors

Zimbabwe’s state-owned miner Kuvimba Resources said its lithium assets are attracting potential investors from both China and other countries. Kuvimba has identified a lithium ore resource of 38... 

Troubled Peru copper mine starts expansion work in supply boost

China’s MMG is hopeful it can start digging copper from a new pit at its giant Las Bambas project in Peru by the end of this year, bringing some much-needed extra supply to a tightening global... 

Eraring coal plant closure delayed by two years

Origin Energy will delay the closure of Australia’s largest coal-fired power station amid concerns renewable energy isn’t being added fast enough to keep pace with plans to quit fossil fuels. The... 

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...