Lynas' Pentagon rare earth supply deal draws Malaysia scrutiny

A Malaysian parliamentary group is scrutinizing ASX-listed Lynas Rare Earths' agreement to supply rare earths to the US, as lawmakers weigh implications for the nation’s foreign policy and... 

First Quantum said to seek sale of stake in giant copper project

First Quantum Minerals is in talks to sell a stake in one of the world’s biggest undeveloped copper projects as rival miners and strategic investors rush to boost exposure to the metal. First... 

Congo taps Portugal’s Mota-Engil to revive copper rail link

The Democratic Republic of Congo (DRC) approved a plan to partner with Portuguese construction company Mota-Engil SGPS on rehabilitating a key railway used for transporting copper and cobalt. The... 

China expands strategic mineral toolkit with new investment firm

A new, Beijing-backed mining investment vehicle is aimed at bolstering China’s grip on overseas resources, as the country pushes back against US and European efforts to curb its dominance of the... 

India power giant seeks uranium assets overseas in nuclear push

India’s largest power producer is seeking to invest in overseas uranium mines to secure supplies needed to fuel 30 GW of nuclear power capacity it plans to build over the next two decades.... 

South Africa ties R3.6bn Johannesburg funding to debt plan

National Treasury said it will release funding that’s been withdrawn from dozens of municipalities after they’ve submitted plans on how they’ll pay their debts. The Treasury on Tuesday withheld... 

US Defence Agency seeks to buy up to $300m of lithium

The US Department of Defense is buying lithium for its strategic stockpiles as the nation ramps up efforts to reduce supply risks for critical minerals. The Defense Logistics Agency (DLA) is... 

De Beers makes deep diamond price cuts for shrinking buyers club

De Beers has made some of the deepest ever cuts to its official diamond prices, potentially signaling an end to its years-long campaign to hold them well above the market rate. The cuts come at the... 

BHP gets approval to start $15bn copper expansion in Chile

BHP Group has received its first major environmental approval for the expansion of its Escondida copper mine in Chile, enabling a tranche of work worth as much as $14.7-billion to start. The... 

Biggest Africa solar minigrid firm plans $650m expansion

WeLight, which operates more solar mini-grids in Africa than any other company, is planning a $650-million expansion to grow the number of people it serves 10-fold as its expands into countries... 

Weaker commodity prices set to tip Australia into trade deficit

The boost to Australia’s trade from the mining boom looks to be fading as imports soar and export growth flatlines, potentially putting it on track for the first annual deficit since 2016. The... 

Japan cuts gas in favour of coal as Hormuz disruption chokes LNG

Japan sharply reduced natural gas-fired power generation last month, instead relying more on coal, as disruptions around the Strait of Hormuz tightened supplies of the cleaner-burning fuel. The... 

Johannesburg faces R2.1bn funding gap as its bills mount

Johannesburg is starting a new financial year with a multibillion-rand budget that’s not fully funded, potentially deepening a crisis that’s already left it unable to pay for power and fuel... 

Australia runs surprise trade deficit with widest gap since 2015

Australia fell into a surprise trade deficit in May as exports dropped the most all year, with imports extending a streak of gains caused in part by high fuel prices and data center demand.... 

Kganyago signals South Africa could hike rates again this month

South African Reserve Bank Governor Lesetja Kganyago said inflation expectations have risen above the central bank’s 3% target, justifying the May interest-rate increase and signalling further... 

Shell nears $1bn South Africa fuel stations sale to Adnoc unit

Shell is nearing the sale of its fuel stations in South Africa to a unit of Abu Dhabi’s biggest oil company in a deal valued at about $1-billion, according to people familiar with the matter. Shell... 

Inflation expectations rise before South Africa rate decision

South Africa’s two-year inflation expectations climbed,complicating the central bank’s efforts to anchor expectations around its 3% target. Average inflation expectations two years ahead, the... 

European lithium miner eyes secondary listing as interest grows

London-listed lithium developer Savannah Resources is pursuing a secondary listing in Lisbon or Australia to tap growing investor appetite for battery materials. The company, with a project in... 

Sherritt warns of going-concern risk after Trump expands Cuba sanctions

A Canadian miner that is one of Cuba’s biggest foreign investors warned investors that its ability to carry on as a going concern is in doubt after Donald Trump expanded US sanctions on the... 

Johannesburg collapse risk spurs call for State to run city

South Africa’s government may soon need to make the politically fraught decision to take control of Johannesburg to avert the city’s financial collapse, according to a consultant appointed by two... 

Major Indonesian nickel smelter enters court-ordered debt halt

One of Indonesia’s largest nickel smelters has been placed under a temporary debt suspension by a local court, as the Southeast Asian nation’s industry grapples with ore shortages and low metal... 

Ramaphosa taps former Treasury Budget Chief as economic adviser

President Cyril Ramaphosa appointed former National Treasury budget chief Michael Sachs as his economic adviser, bringing a respected fiscal policy technocrat back into the government as the... 

Police deployed as anti-migrant deadline looms

South Africa will deploy more police this week to deter possible violence before a June 30 deadline set by xenophobic protest groups for foreigners to leave the country. “There has been... 

China places two US rare earths producers on export control list

China has imposed export controls on two US rare earth producers that are part of Washington’s effort to establish alternative supply chains for minerals critical to advanced manufacturing and... 

Vale board resists shareholder Previ’s bid to oust chairperson

Boardmembers of Vale, the world’s top iron-ore producer, voted against a proposal by one of the company’s largest shareholders to remove Daniel André Stieler as chairperson, according to people... 

Dean Macpherson urges police to find xenophobic agitators

Public works and infrastructure minister Dean Macpherson called on law enforcement agencies to act against those responsible for violence against migrants, warning that the attacks are tarnishing... 

Ghana is weighing local control of Gold Fields’ biggest mine

Ghana is considering transferring control of Gold Fields’s Tarkwa mine to local firms when its leases expire next April, part of a push to increase control of its gold industry and capture more of... 

Floods inflict record R9bn damage on Cape

Recent flooding in South Africa’s Western Cape province, which includes the tourist hub of Cape Town, caused more than R9-billion of damage, a total that’s expected to rise once final assessments... 

Rio Tinto resumes copper exports from massive Mongolian mine

Rio Tinto Group has resumed exports of copper concentrate from its vast Oyu Tolgoi copper mine in Mongolia following a short protest. The protesters began a blockade of a key road on Wednesday... 

Zimbabwe licenses second gold refinery to handle rising output

Zimbabwe has licensed a second gold refinery to handle purchases and processing of the southern African nation’s increasing output of the precious metal. The refinery, to be located in the... 

BRICS Bank lends South Africa $1bn for cities, report says

New Development Bank is lending South Africa $1-billion for the State to upgrade infrastructure in its eight biggest cities, Business Day reported. The so-called metropolitan municipalities will... 

Lobito railway receives first Congo shipment after flood repairs

Lobito Atlantic Railway (LAR) received its first copper shipment from the Democratic Republic of Congo (DRC) since reopening a flood-damaged section of the corridor, restoring traffic on a key... 

Traders cut South Africa rate-hike bets after Iran peace deal

Traders have scaled back bets on additional South African interest-rate hikes after a US-Iran peace deal sent oil prices tumbling, potentially reducing inflationary pressures. Forward-rate... 

South African firms face pressure due to anti-immigrant protests

South African companies with operations across Africa are facing mounting pressure as anti-immigrant protests in the continent’s largest economy trigger diplomatic tensions and calls for action... 

Treasury says upgrades show path to investment grade

South Africa’s recent credit-rating upgrades are a strong endorsement of government policy and show the nation can restore its coveted investment-grade status if it stays on track, said the... 

Chinese region promotes coal chemicals as energy security fix

One of China’s top coal-producing regions plans to expand use of the feedstock to manufacture chemicals, even as the practice poses a rising threat to the country’s climate goals. The Iran War has... 

South Africa set to run coal stations longer as gas projects lag

South Africa is poised to delay the retirement of about a fifth of its coal-fired electricity-generation capacity as gas projects earmarked to replace them remain behind schedule, contrasting a... 

South Africa posts largest current-account surplus since 2022

South Africa posted its largest current-account surplus in four years in the first quarter as the value of gold exports surged and imports dropped. The balance on the current account — the broadest... 

Gold major Northern Star rejects new investor proposal to sell the company

Australia’s biggest gold miner Northern Star Resources has rejected a proposal by activist investor Elliott Investment Management to sell off some of its smaller assets or seek to sell itself to a... 

IMF MD Georgieva warns world isn’t ready for shocks that are piling up

International Monetary Fund (IMF) MD Kristalina Georgieva said that after facing crisis upon crisis in recent years, the world needs to build foundations that can withstand shocks that have become...