Codelco logs $4.85bn pre-tax profit in 'very difficult' 2025

Chilean state-owned Codelco, the world's largest copper producer, on Friday reported a pre-tax profit of $4.85-billion in 2025. The company, which remits all its profits to the government,... 

Russia may auction off seized stake in gold producer UGC next month

A stake in Russian gold producer Uzhuralzoloto (UGC) that was seized by the state last year could be sold at auction next month, federal property management agency Rosimushchestvo said on Friday.... 

Chile's government sacks head of State miner ENAMI

The Chilean government said on Thursday that it had removed the head of state miner Enami, Ivan Mlynarz. The company advisory sent to the local securities regulator was signed by Javiera Estrada,... 

Congo, China deepen mining ties as US pushes rival minerals pact

Democratic Republic of Congo and China have signed a deal to deepen cooperation in the African nation's mining sector, Congo's government said, as global powers jockey for influence in the... 

South Africa's policy rate on hold as Iran war seen pushing up inflation

South Africa's central bank maintained its main lending rate at 6.75% on Thursday, saying caution was needed as higher energy prices triggered by the US-Israel war against Iran would push up... 

South Africa's policy rate on hold as Iran war seen pushing up inflation

South Africa's central bank kept its key interest rate unchanged at 6.75% in a unanimous decision announced on Thursday. The majority of economists polled by Reuters had expected no change in the... 

Barrick delays Pakistan project amid Middle East conflict

Barrick Mining is extending its review of the massive Reko Diq copper-gold project in Pakistan and slowing development activity amid escalating security concerns in the South Asian country and the... 

India's iron-ore imports set to hit 7-year high in 2025/26

India's imports of iron-ore, a key raw material in steelmaking, are set to rise to a seven-year high in the fiscal year ending on March 31, driven by a shortage of high-grade ore and demand from... 

BHP's Jimblebar iron-ore stocks in China hit near two-month low after ban reprieve, traders say

Inventories of BHP's Jimblebar fines, a type of iron-ore, at some Chinese ports slid to a near two-month low after steelmakers rushed to take delivery during a one-week ban reprieve, according to... 

South African rand weakens ahead of central bank rate decision

The rand weakened in early trade on Thursday, ahead of a much-anticipated interest rate decision by the South African Reserve Bank (SARB) later in the day. At 0720 GMT the rand traded at 17.03... 

Trade ministers meet in Cameroon for critical WTO reform talks amid deep divisions

Trade ministers will meet in Cameroon on Thursday for crucial discussions on reforming the World Trade Organization, as some diplomats and trade officials warn that without an agreement, countries... 

Woodside Energy assumes control of Beaumont ammonia facility in Texas

Australian oil and gas producer Woodside Energy said on Thursday it assumed operational control of the Beaumont New Ammonia facility in Texas following the completion of performance testing and... 

Lynas agrees potential rare earths deal with South Korea's LS Eco Energy

ustralia's Lynas Rare Earths and South Korea's LS Eco Energy said on Thursday they plan to work together to process rare earths, to help meet demand from customers scrambling to secure non-Chinese... 

Oil execs say price swings make it hard to 'drill, baby, drill'

Activity in the US oil and gas sector in the key producing states of Texas, Louisiana and New Mexico increased in the first quarter of 2026 although output was steady for now, a survey released by... 

Iron-ore rises on Australia supply disruption concerns

Iron-ore futures rose on Thursday, supported by concerns over Australian supply disruptions due to the closure of ports in the Pilbara region following a cyclone. The most-traded May iron ore... 

Albemarle starts enviro review process for lithium extraction project in Chile

Albemarle said on Wednesday that it has started the environmental review process for its first project through direct lithium extraction (DLE) in Chile. The US based company, the world's largest... 

Australian energy, uranium seen in demand post Iran crisis - IEA

Australia is a crucial source of minerals, including for nuclear power, to help stave off a bigger supply shock than the world is currently facing in energy due to the Iran war, the head of the... 

South African rand steady as market weighs Trump's talk of Iran negotiations

The South African rand was steady in early trade on Wednesday as traders cautiously assessed President Donald Trump's assertion that the US was in negotiations to end to the war with Iran. At 0712... 

Hormuz-driven fertilizer shortage could raise grain prices, Goldman Sachs says

Disruptions to nitrogen fertilizer supply through the Strait of Hormuz could reduce global grain yields and shift planting decisions, potentially lifting grain prices, Goldman Sachs said in a... 

Global energy crisis deepens; efforts to plug supply gap fall short, industry execs warn

HOUSTON - The global energy crisis is deepening as emergency measures by governments worldwide have fallen short of plugging the huge shortfall in oil and gas supply caused by the US-Israeli war on... 

US shale firms unlikely to drill at $100 a barrel unless high prices last longer, executives say

Oil prices above $100 a barrel would not trigger a meaningful production increase in the US unless they stay elevated for more than a quarter, shale executives said at the CERAWeek energy... 

Goldman lifts Q2 aluminum forecast to $3 200 on supply disruptions

Goldman Sachs raised its second-quarter LME aluminum average price forecast to $3 200 a tonne from $3 100, citing supply losses from Middle East disruptions and the shutdown of the Mozal smelter in... 

Australia will have floor price for critical minerals reserve, Minister says

Australia will "no doubt" have an element of a floor price in its strategic reserve for critical minerals, Resources Minister Madeleine King said on Wednesday, as the resources rich nation looks to... 

Rio Tinto expects Resolution Copper mine to open by mid-2030s

Rio Tinto aims to open Arizona's Resolution Copper mine by the mid-2030s but may need to export some of its copper concentrate due to the challenging economics of smelting in the US, a senior... 

Coal India unit's $199m IPO fully subscribed on final bidding day

Central Mine Planning & Design Institute's (CMPDIL's) $198.7-million initial public offering was fully subscribed on the final day of bidding on Tuesday, helped by large institutional investors.... 

Necsa to tender for new multi-purpose research reactor

South African nuclear energy firm Necsa will soon launch the next phase of a tender for a new multi-purpose research reactor aimed at maintaining its position as a top global exporter of medical... 

Iran war makes second phase of LNG Canada more likely, TC Energy CEO says

The disruption to global liquefied natural gas supplies caused by the Iran war makes it more likely that a second stage of Canada's massive LNG Canada facility will be built, the CEO of Canadian... 

South Africa's consumer confidence improves in Q1 but Mideast war risks loom, survey shows

South Africa's consumer confidence improved in the first quarter, a survey showed on Tuesday, helped by a rebound among higher-income households, although the report warned the Middle East war... 

South Africa's gold producers stay in the shallows as prices surge

Record gold prices are pushing South Africa's beleaguered mining industry to find new ways to recover the metal that sidestep the costly deep-shaft mining of old, industry executives said. But with... 

Santos temporarily shuts Darwin LNG plant amid Mideast supply squeeze

Australia's Santos said on Tuesday it has temporarily shut its Darwin liquefied natural gas plant, interrupting exports from a newly restarted supply chain at a time when markets are tightening due... 

Additional central banks to buy gold on geopolitical risks, WGC says

Gold's role as a hedge against dedollarisation and geopolitical risk is expected to spur central banks who have been absent from the market to buy the precious metal this year, a World Gold Council... 

US needs more energy development to power AI, Google president says

The US may not be scaling energy supplies fast enough to to meet the demands of the artificial intelligence expansion, Ruth Porat, president and chief investment officer of Google parent Alphabet... 

Chevron CEO says it will take time for energy to recover from Middle East production hit

Chevron CEO Mike Wirth said he is uncertain how quickly shut-in production in the Middle East stemming from the ongoing US-Israel war with Iran will return. "It will take time to come out of... 

Oil prices have not climbed enough to cause demand destruction, US energy secretary says

Global oil prices have not climbed enough to cause demand destruction, US Energy Secretary Chris Wright said on Monday at the CERAWeek energy conference in Houston, Texas, even as markets continued... 

Freeport-McMoRan confident in copper demand despite Iran conflict, CEO says

Freeport-McMoRan expects demand for copper for use in electrification, data centers and other high-tech areas to remain resilient despite market jitters tied to the Iran conflict, CEO Kathleen... 

African bunkering hubs gain as ships reroute around the Cape

Ship-refuelling companies along Africa's coast are seeing a surge in business as more vessels divert around the Cape of Good Hope, with war in the Middle East reshaping global shipping routes and... 

South African rand strengthens after Trump delays strikes on Iran energy sites

The South African rand strengthened on Monday after US President Donald Trump stepped back from plans to target Iran's power plants and energy infrastructure, boosting appetites for riskier assets.... 

Russia's Nornickel sees new palladium demand from China’s fibreglass sector

Nornickel, the world's biggest palladium producer, said demand for the metal from China’s fibreglass industry could reach 0.8-million ounces per year over the medium term, helping offset an... 

Oil plunges after Trump postpones strikes on Iranian power plants

Oil prices fell by 7% on Monday after US President Donald Trump said he would postpone any military strikes against Iranian power plants for five days after constructive talks, hours ahead of a... 

Middle East shock gives Nigeria's Dangote leverage as cheap imports dry up

Nigeria's Dangote Petroleum Refinery has stepped up gasoline exports across Africa as disruptions to energy flows due to the Iran conflict squeeze traditional fuel supply routes, curbing the cheap...