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Norway’s $1.5tr fund raises concerns with Rio Tinto over mine in Brazil
The ethics adviser to Norway’s $1.5-trillion sovereign wealth fund has raised concerns with Rio Tinto Group about the environmental impact of a mine in Brazil, reviving questions about the fund’s...
US, EU are set to miss a critical minerals agreement this week
A US and European Union push to reach an accord on fostering critical mineral supply chains is set to miss another target this week, according to people familiar with the discussions. The final...
India coal miner plans $720m sale of renewables unit
State-run coal miner and power producer NLC India is planning to sell renewable assets worth an estimated 60-billion rupees ($720-million). The company will put nearly 1.4 GW of mostly solar...
Gold hits record as silver surges on outlook for Fed rate cuts
Gold held near a fresh record and silver hit a two-year high as two Federal Reserve officials said they still expect the US central bank to cut rates three times in 2024, buoying the outlook for...
Deutsche Bank says Glencore may consider switching listing to US
Glencore may consider switching its primary listing from London to New York, analysts at Deutsche Bank predicted, in what would be one of the most high-profile exits from the UK exchange to date....
Copper rises on nascent optimism over outlook for China economy
Copper advanced to the highest level in more than a week as investors weighed upbeat factory data from top consumer China and the potential for output cuts by the country’s leading smelters....
Iron-ore’s reset lower to $100 heralds China’s new economy shift
Iron-ore’s reset to around $100 a ton is indicative of a broader reshaping of China’s commodities markets that favors the new economy over the old. The steelmaking material plunged to $95.40 a ton...
Chile wants to double its lithium output to avert risk of substitution in batteries
For a global lithium industry still reeling from gluts along the battery supply chain, the greater long-term risk is producing too little of the metal rather than too much, according to the world’s...
Chile sees Codelco revival after years of copper output declines
Codelco is turning the corner after a production slump and project overruns eroded the state-owned copper behemoth’s finances, according to a top Chilean government official. “In 2024, the...
Top China lithium firms look past profit slump and vow expansion
Undeterred by slumping profits, China’s lithium giants are planning to grab a bigger slice of the market. Tianqi Lithium and Ganfeng Lithium Group reported sharp drops in 2023 net income last week...
Gold hits record on Fed cut outlook and geopolitical tension
Gold rose to a record as the second quarter kicked off, extending a rally that’s been driven the Federal Reserve edging closer to rate cuts and deepening geopolitical tensions. Bullion jumped as...
Bridge disaster leaves some US coal miners with few options
The catastrophic shipping accident that’s choked off Baltimore harbor is leaving few options for some US coal exporters, with Consol Energy facing the biggest threat to its operations. “Consol has...
Africa’s biggest freight rail market set for private operator participation
Africa’s biggest freight rail market is on the cusp of being transformed by private operators, the head of the operator of the continent’s largest rolling-stock fleet said. The South African...
MinRes to sell online in transparency push
Australian miner Mineral Resources will use a digital trading platform to sell parcels of spodumene concentrate, a lithium-bearing mineral, in an effort to bring transparency to the market. Joshua...
Rivers near Congo copper and cobalt mines are toxic, report says
River water near some of Democratic Republic of Congo’s biggest copper and cobalt mines is toxic and may be causing widespread health problems. Scientists from Congo’s University of Lubumbashi...
World’s top aluminum producer sees raw material supply risk in Guinea
Aluminum Corp of China said it sees “relatively high” risks to supplies of bauxite from Guinea, highlighting its growing dependence on a single country for the raw material. The West African nation...
Jiangxi Copper sees higher prices as it plans to raise output
Jiangxi Copper, China’s largest producer, said it expects prices to rise in the second half once the Federal Reserve cuts interest rates, while pledging to maintain double-digit growth in output...
Kazakhstan seeks to boost uranium exports to US
Kazakhstan, the world’s largest uranium miner, is conducting “active work” to boost exports of the metal to US energy companies. The country’s energy ministry said cooperation in the energy sector...
Baltimore bridge collapse will likely block coal exports for weeks
The collapse of a major Baltimore bridge is likely to shut down coal exports for as many as six weeks and block the transport of up to 2.5-million tons of coal, said Ernie Thrasher, CEO of Xcoal...
Gold holds near record high ahead of US inflation data release
Gold held Monday’s gain as investors remained cautious ahead of key US inflation data, which may provide traders with a firmer view on when the Federal Reserve will start cutting interest rates....
Goldman says commodities to benefit as central banks cut rates
Commodities will advance this year as central banks in the US and Europe move to reduce interest rates, helping to support industrial and consumer demand, according to Goldman Sachs Group Inc. Raw...
Top Australian gold miner seeks to expand Kalgoorlie ‘Super Pit’
Northern Star Resources is seeking to expand its flagship Fimiston gold mine in Western Australia and extend the life of the project to 2034. Kalgoorlie Consolidated Gold Mines, which is wholly...
US announces $6bn to clean up heavy manufacturing
The first new US aluminum smelter in 45 years may be built as part of about $6-billion in grants the Biden administration is awarding to companies in a bid to clean-up hard to decarbonise...
Major Chinese miner says US-led containment is risk to growth
Zijin Mining Group, one of China’s most acquisitive mining groups, warned that US-led efforts to tackle Beijing’s control of minerals could slow the company’s global expansion. “The development of...
Uranium’s 22% price plunge is bottoming out on nuclear future
Uranium may have lost some sizzle after an electrifying 10-month rally, but analysts and investors aren’t losing faith in the long-term prospects of the nuclear fuel. After a 22% decline over six...
Coal is preparing for a long goodbye
More than two years after climate negotiators first attempted to consign coal to history, the dirtiest fossil fuel is having a moment. Thanks to a combination of China’s energy insecurity —...
Major investors more confident in Australia’s climate policy
Investors with a combined A$35-trillion in assets are becoming more optimistic about Australia’s climate policy, with roughly half considering financing renewable-energy projects, according to an...
Biden set to award billions to decarbonise US heavy industries
The Biden administration is poised to award as much as $6.3-billion in dozens of grants to help hard-to-decarbonise industries cut emissions, according to people familiar with the matter. Details...
Alleged $60m nickel fraudster can’t pay his legal bills
The businessman at the center of an alleged $600-million nickel fraud is struggling to pay £330 000 in legal fees, in a sign that his finances are under increasing strain. Prateek Gupta was last...
Top treasury official stresses US ambitions for Africa’s metals
US Deputy Treasury Secretary Wally Adeyemo used a five-day trip to South Africa to advertise his country’s ambitions of securing supplies of the metals needed for the global energy transition –...
Implats’ Zimbabwe unit plans voluntary job cuts to contain costs
Impala Platinum Holdings’ Zimbabwean unit is offering staff voluntary redundancy packages to cut costs because of anemic metal prices. Weak platinum group metal prices are projected to last for the...
Global commodity trading profits topped $100bn for second-best year ever
The commodity trading industry reaped its second-best year ever in terms of profits, banking over $100-billion and building up a mountain of cash to spend on assets and breaking into new markets....
Economy chief says Chile’s lithium products likely to get US subsidies
Chile is betting that components made with its lithium will qualify for subsidies under the US Inflation Reduction Act, potentially attracting a wave of fresh investment from companies seeking to...
Iron-ore drops below $100 on China’s persistent property crisis
Iron-ore futures fell below $100/t for the first time in seven months as investors bet that China’s years-long property crisis will run through 2024, keeping a lid on steel demand. The steelmaking...
Biden says US steel should remain domestically owned, operated
President Joe Biden called for United States Steel to retain American ownership amid moves by Nippon Steel to purchase the Pittsburgh-based company. “US Steel has been an iconic American steel...
Copper surges past $9 000 with supply threats stacking up
Copper rallied above $9 000 a ton — its highest level in 11 months — as investors react to the risk that global supply challenges will tilt the market back into deficit. The metal, seen as a...
China to invest in Canada mining despite crackdown, envoy says
China’s ambassador says the country will continue to do business in Canada’s domestic critical minerals sector despite Prime Minister Justin Trudeau’s “unfortunate” crackdown on foreign...
Albemarle plans to auction lithium with aim of ‘fair’ valuation
The world’s biggest lithium producer, Albemarle, plans to sell some of its metal in auctions, which it says will help make an opaque market more transparent. Albemarle has outlined a bidding model...
Australian miner sells lithium before auction as prices rise
An Australian lithium miner has sold a cargo of the battery metal before a scheduled auction next week, just as market prices show signs of a rebound following a year-long rout. Pilbara Minerals...
Rare earths miner wins A$840m in funding from Australia
Arafura Rare Earths will receive A$840-million in funding from the Australian government to create the nation’s first combined mine and refinery for minerals that are crucial to the clean-energy...
Glencore should keep its coal mines, investor says
Glencore should keep its coal business even after it completes a deal to buy Teck Resources Ltd.’s coal-mining unit, according to shareholder Tribeca Investment Partners. Coal mine ownership has...
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