Moody’s upbeat on Johannesburg’s finances despite political woes

Johannesburg, South Africa’s richest city and economic hub, received a vote of confidence from Moody’s Ratings despite a record of political dysfunction and wasted spending that’s prompted the... 

Newmont said to eye deal for Barrick’s prized Nevada assets

Newmont is studying a potential deal to gain control of Canadian rival Barrick Mining’s prized Nevada gold assets, people with knowledge of the matter said. Denver-based Newmont has a minority... 

South Africa boosts deportations amid jobs crisis, Schreiber says

South Africa is pushing to deport more undocumented migrants who compete with citizens for jobs in an economy with one of the highest unemployment rates globally, the minister overseeing the... 

Lower CPI goal may save S Africa R900-billion in debt costs

Reserve Bank Governor Lesetja Kganyago emphasised the benefits of a lower inflation goal, saying it could save the government as much as R900-billion over a decade in debt-service costs. “What we... 

Angola submits bid for Anglo American’s majority De Beers stake

Angola said it has offered to buy Anglo American’s majority stake in De Beers, facing off against other potential suitors including neighboring Botswana. State-owned Angolan gem producer Endiama... 

BlackRock backs South African bonds amid US debt concerns

South African local-currency government bonds are becoming a top pick for investors seeking an alternative to US Treasuries amid worries about a weaker dollar and rising government debt, according... 

South Africa’s R440bn grid build draws Adani, Chinese firms

South Africa’s R440-billion transmission grid expansion programme has attracted interest from international developers, including a company owned by Indian billionaire Gautam Adani and Chinese... 

Saudi Arabia lures Macquarie, Rinehart in courtship of Australia

Saudi Arabia is ramping up efforts to deepen ties with Australia — a country with which it has traditionally done limited business — as the kingdom seeks to capitalise on fresh momentum from deals... 

Mining investor says US must outspend China on critical minerals

A US-backed mining investor warned that Washington must outspend Beijing on critical minerals projects to challenge China’s dominance of global supply chains. Western governments are still moving... 

US Africa envoy sees positive progress on extension of AGOA

US President Donald Trump’s Africa envoy signaled progress toward the renewal of a program allowing African nations duty-free access to the world’s largest economy. “We understand that it’s moving... 

Australia pitches to be Trump’s fix for China rare earths curbs

Australia’s prime minister is set to pitch his nation’s vast resource holdings as a solution to China’s rare earth curbs at a meeting Monday with President Donald Trump, as the US and other... 

GM, Vale pause battery material plans in Canada on EV pullback

General Motors Co. and a partner have paused the second phase of a cathode factory in Quebec, resulting in the cancellation of a nickel sulfate project by Vale SA. GM agreed in 2022 to buy nickel... 

Cobalt rally risks pushing away battery makers, top miner says

Battery makers will hasten a shift away from cobalt if the metal’s price – boosted by export limits in the Democratic Republic of Congo (DRC) – goes even higher, said an executive at the biggest... 

Codelco plans to speed up automation after copper mine collapse

Codelco, one of the world’s biggest copper producers, is pursing ways to remove more people from its giant mines in Chile after a deadly collapse underscored the dangers of digging deep... 

ArcelorMittal M&A head holds talks in South Africa over unit sale

ArcelorMittal SA’s head of mergers and acquisitions, Ondra Otradovec, is holding talks in South Africa with the nation’s top development-finance institution and trade department about the sale of... 

South Africa investigates how it made a part for Russian drones

South African authorities said they are investigating how electronic equipment made in the country ended up in Russian drones used to attack Ukraine. The part in question is a laser range finder... 

South Africa books ‘big wins’ on lower inflation, Kganyago says

South African central bank Governor Lesetja Kganyago said lower inflation has delivered “big wins” by reducing government borrowing costs, vindicating his decision to anchor the rate at the bottom... 

Zambia’s record copper mining output meets a red-hot market

Zambia is poised for record copper production this year, bolstering its standing as a key global supplier just as prices surge and demand is set to grow. A wave of accidents and disruptions at... 

Lithium Americas analysts sour as US stake sparks 175% rally

It’s almost old hat to the market by now. Take a struggling company, cut a deal with the US government, sealed with the approval of President Donald Trump, sit back and watch the stock take off.... 

Eskom’s biggest union demands 15% increase ahead of wage talks

The biggest union at South Africa’s Eskom is demanding a wage increase of as much as 15% ahead of negotiations that are set to begin. The National Union of Mineworkers, representing about 15 000... 

Botswana says pulled diamond sale wasn’t an ‘emergency’ auction

Botswana said an unprecedented ad-hoc diamond auction late last month — in which it didn’t sell any gems because the reserve price wasn’t met — wasn’t an “emergency sale.” State trader Okavango... 

Trump approves road project in Alaska, stake in Trilogy Metals

President Donald Trump reversed a Biden administration decision blocking the construction of the Ambler Road project in Alaska, in a move he said would open up critical energy and mining projects.... 

Africa must quell its reliance on outside money, Godongwana says

Africa faces a “distressing decline” in foreign health aid and should raise more money domestically, including via taxes on tobacco and alcohol, said South African Finance Minister Enoch... 

Peru’s large miners fear their exploration rights are at risk

Peru’s large miners are getting increasingly worried lawmakers may tamper with rules around mineral rights as congress prepares to discuss a proposed law favouring small-scale operators. Peru, the... 

Congo court ruling risks snarling Trump’s critical mineral goals

A Congolese firm under US sanctions won a court ruling that may aid its claim to a prized tantalum deposit, potentially complicating Washington’s efforts to shore up supplies of critical minerals.... 

Fiscal rule to help steady South African debt, Central Bank says

South Africa risks a debt trap after years of lax budget discipline, but following through with plans for a fiscal rule to control borrowing will put it back on track, the central bank said. The... 

South Africa, Nigeria poised to exit dirty-money list next month

South Africa and Nigeria are poised to exit a global financial watchdog’s “gray list” as soon as next month, marking a change in fortune for two of the continent’s biggest economies. The two... 

Glencore investors question strategy as copper bonanza eludes miner

Institutional investors in Glencore have grown increasingly frustrated with the commodity giant’s underperformance, with several large shareholders privately voicing their disappointment and... 

ArcelorMittal may get R8.5bn IDC bid for South Africa unit

South Africa’s top development finance institution is working with financial advisers on a possible bid of about R8.5-billion for control of ArcelorMittal’s business in the country, people familiar... 

Diamond sale fails in Botswana as buyers refuse to pay up

Botswana didn’t sell any diamonds in an unprecedented ad-hoc auction as buyers refused to pay high enough prices, as the global industry continues to grapple with one of its deepest-ever crises.... 

Botswana wants to buy De Beers controlling stake by next month, President says

Botswana’s president aims to complete a deal to take a majority stake in De Beers by the end of next month, even as his administration and other potential buyers continue negotiations with the... 

US re-evaluating $2.3bn loan for Nevada lithium mine

The Trump administration is re-evaluating a $2.3-billion loan approved by President Joe Biden for the development of a Nevada lithium deposit, according to people familiar with the matter who asked... 

Ramaphosa tries to defuse backlash after praising rival party

South African President Cyril Ramaphosa moved to defuse tensions sparked by his warning that the African National Congress (ANC) risks losing voter support unless it learns from a key political... 

Mali appeals judge’s order to release detained Barrick staff

Malian prosecutors have appealed a judge’s order to release four Barrick Mining Corp.’s employees on bail, according to people familiar with the matter. Barrick staff, including a regional manager... 

Trump’s trade envoy to meet with Parks Tau

US Trade Representative Jamieson Greer and Minister of Trade, Industry and Competition Parks Tau are expected to meet on Thursday in a bid to resolve an impasse over tariffs, people with knowledge... 

Glencore to meet with Ramokgopa in bid to save smelters

Glencore will meet with the South African government this week to seek ways to prevent smelters that make a key stainless steel ingredient from shedding thousands of jobs as they grapple with... 

US in talks to set up $5bn fund for critical mineral deals

The US is in talks to set up a $5-billion fund to invest in mining, in what would be the government’s most significant foray into dealmaking to boost supplies of critical minerals. The US... 

Shell’s fight with South African activists moves into last round

South Africa’s top court will start hearing arguments on Tuesday in a legal battle that has pitted environmental activists against one of the world’s biggest energy companies — and which may... 

Reserve Bank’s new inflation goal faces a key test

The South African Reserve Bank’s new goal of anchoring inflation at 3% faces a big test this week, with two key data points and its first policy meeting since announcing the move. A closely watched... 

A $3bn plan to bring water to Johannesburg hits opposition

A long-delayed R53-billion project that South Africa’s commercial hub is banking on to end a growing water crisis has hit fresh opposition. Communities comprising 1 600 people have filed a formal...