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Reuters is an international news organization owned by Thomson Reuters. Until 2008, the Reuters news agency formed part of an independent company, Reuters Group plc, which was also a provider of financial market data.

India raises import tax on gold to support rupee

1st July 2022  India has raised its basic import duty on gold to 12.5% from 7.5%, the government said on Friday, as the world's second biggest consumer of the precious metal tries to dampen demand and bring down the trade deficit. Local gold prices jumped to an over two-month peak of 52 032 rupees per 10... 

Copper slumps to 17-month low as recession fears haunt markets

1st July 2022 Copper prices tumbled to a near 17-month low on Friday and were set for their fourth consecutive weekly decline, as fast-rising interest rates and weak economic data stoked fears of a global recession, which would dent demand for metals. Other industrial metals also fell, with zinc dropping over... 

Iron-ore tumbles as recession fears fuel commodities selloff

1st July 2022 Iron-ore and steel prices tumbled on Friday as prospects of a sharp global economic downturn fanned fears of a slump in demand for commodities, despite signs of a rebound in manufacturing activity in top metals consumer China. The spectre of a global recession fed an already clouded demand... 

Macron says deep-sea mining must not go ahead

1st July 2022 French President Emmanuel Macron said on Thursday a legal framework was needed to stop deep-sea mining from going ahead and urged countries to put their money on science to better understand and protect the world's oceans. There is growing international interest in deep-sea mining but there is... 

California approves lithium tax despite industry's warnings

1st July 2022 California on Thursday approved a plan to tax the electric vehicle battery metal lithium to generate revenue for environmental remediation projects despite industry concerns that it will harm the sector and delay shipments to automakers. Governor Gavin Newsom, a Democrat, approved the tax as... 

China's Huayou to explore Zimbabwe lithium plant 'when conditions are right'

30th June 2022 Huayou Cobalt 603799.SS on Thursday said it could not immediately commit to producing battery-grade lithium in Zimbabwe after the country's competition authority made that a condition of its takeover of a lithium mine.  China's biggest cobalt refiner acquired the hard-rock Arcadia lithium mine,... 

LME examining UK's sanctions on Nornickel boss Potanin

30th June 2022  The London Metal Exchange (LME) is examining sanctions which Britain has imposed on oligarch Vladimir Potanin, chief executive of Nornickel GMKN.MM, the world's largest refined nickel producer, the exchange said on Thursday. "We are looking into the detail of the sanctions and what it may mean... 

California lithium tax would delay shipments to automakers, executives warn

30th June 2022 A proposed flat-rate tax on lithium produced in California's Salton Sea region will delay deliveries of the electric vehicle battery metal to General Motors and Stellantis and may push some mining companies to exit the state entirely, industry executives told Reuters. The brewing tension comes... 

Liontown inks lithium deal with Ford after Tesla, LG agreements

29th June 2022 Liontown Resources signed a lithium supply agreement with Ford Motor, the Australian miner's latest after similar deals earlier this year with Tesla and electric vehicle (EV) battery maker LG Energy. Liontown said on Wednesday it will supply Ford with 150,000 dry metric tonnes (DMT) of lithium... 

Britain extends steel tariffs, breaching WTO rules

29th June 2022 Britain on Wednesday extended a package of tariffs and quotas on five steel products by two years to protect local steelmakers, in a move that will breach international trade rules. Trade minister Anne-Marie Trevelyan told parliament the safeguards would help defend a strategic industry and that... 

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