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Alrosa says output stable amid Western sanctions
Russian diamond miner Alrosa has no plans to reduce production amid tougher Western sanctions, its CEO Pavel Marinychev said on Thursday. The Russian finance ministry said last month that Russia...
Graphite miners lobby US govt to impose levy on China-sourced EV material
North American graphite miners are lobbying the US government to impose a 25% tariff on three graphite products sourced from China in order to counter Beijing's monopoly on a key material used in...
Brazil Potash aims to beat Russian, Canadian suppliers on price
The cost to produce potash from a mine being developed in the Brazilian Amazon will be similar to Russia's and lower than in No. 1 producer Canada, said the CEO of Brazil Potash, citing a...
Australia's second-largest pension fund blacklists thermal coal investments
Australian pension giant Australian Retirement Trust said on Thursday it would stop investing in most thermal coal companies from July as part of a plan to hit net zero emissions across its...
Canada's long-delayed Trans Mountain oil pipeline starts operations
After 12 years and C$34-billion, Canada's Trans Mountain pipeline expansion project (TMX) began commercial operations on Wednesday, a major milestone expected to transform access to global markets...
Barrick Gold beats estimates for quarterly profit
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has entered into an exploration partnership with Geophysx Jamaica. Prices of the...
Barrick Gold is not interested in bidding for Anglo American, CEO says
arrick Gold is not interested in bidding for Anglo American, which last week received a $39-billion takeover offer from BHP, and is building its own copper portfolio, the Canadian miner's CEO Mark...
China's Zhaojin wins control of Australia's Tietto Minerals in $475m deal
China's Zhaojin Capital has won control of Australia's Tietto Minerals after a protracted six months takeover tussle that values the gold producer at A$733-million ($474.62-million), according to a...
Anglo to meet top shareholders on BHP bid as takeover rules restrain AGM
Anglo American's chair will meet its top 30 shareholders to hear views on BHP's $39-billion bid for the miner, he told an annual general meeting on Tuesday, where he was restricted from discussing...
US reforms environmental law to speed up clean energy, infrastructure approval
The White House on Tuesday reformed the US environmental review process for major projects which officials said would speed up approval of everything from transmission of power from wind and solar...
As BHP weighs firm bid for Anglo, investors fret over cherry-picking assets
BHP Group can't cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, concerned that they stand to lose heavily by holding shares in South African...
Tietto asks investors to accept Zhaojin's offer or sell shares
Australia's Tietto Minerals has urged its shareholders to accept Zhaojin Mining's offer that values the firm at A$733-million or sell shares on-market if the market price is not materially...
Anglo under pressure to reveal plans to fend off BHP as Elliott hikes stake
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off bidder BHP, as activist investor Elliott further raised the stakes by increasing...
South Africa views BHP bid for Anglo as 'normal market activity'
South Africa views BHP Group's proposed bid for Anglo American as "normal market activity" and is following the process as it unfolds, President Cyril Ramaphosa's spokesperson said on Monday. BHP...
Vale, BHP propose $25bn settlement for Mariana disaster reparations
Vale, BHP and their joint venture Samarco have presented Brazilian authorities with a settlement proposal related to reparations for the 2015 Mariana tailings dam burst, which killed 19 people and...
BHP tells investors Anglo bid is 'on strategy', stresses discipline
BHP has told Australian investors privately that its $39-billion Anglo American bid is in line with its strategy and that it will be disciplined in its approach, two fund sources said. The world's...
Saudi Arabia set on securing lithium for EV ambitions
Saudi Arabia is committed to sourcing lithium from overseas as it looks to produce EV batteries and invest in the electric vehicle sector, a senior minister said in an interview, noting attempts to...
Glencore bought aluminium from Rusal worth $1.06bn in 2023
Commodities group Glencore bought aluminium from Russian producer Rusal worth $1.06-billion in 2023 as part of their long-term contract, the Russian producer said in an annual report on Friday....
Codelco posts fresh output slump, underscoring copper struggles
Top copper producer Codelco saw a decline in quarterly output due to lower quality ore at its aging Chilean mines — the latest sign of supply-side struggles that have helped send metal prices to...
BHP considering improved proposal for Anglo American, sources say
BHP Group is considering making an improved offer for Anglo American after its $39-billion initial proposal was rejected by the London-listed miner, a source familiar with the matter told Reuters....
Copper hits $10 000/t as bulls predict looming deficit
Copper hit $10 000 a ton for the first time in two years as speculation builds that the world’s mines will struggle to meet a coming wave of demand from green industries. The metal reclaimed its...
Activist investor Elliott builds $1bn stake in Anglo American
Activist fund Elliott has built up a $1-billion stake in Anglo American, a filing showed on Friday, after the London-listed miner became a takeover target by bigger rival BHP Group. Elliott...
China's Q1 gold consumption climbs nearly 6% on safe-haven demand
hina's gold consumption in the first quarter of 2024 climbed by 5.94% from a year earlier on soaring safe-haven demand, the country's Gold Association said on Friday. Bullion consumption in the...
Glencore seeks investment opportunities in Nigerian mining sector
ining and trading house Glencore will invest in Nigeria's mining sector if the government ensures a stable business climate, the company's CEO said on Thursday during a visit to Nigeria's minister...
FACTBOX: Top deals in the global mining sector
On Thursday, BHP Group bid $38.8-billion for smaller rival Anglo American, offering a deal to forge the world's biggest copper miner. Here is a list of some previous big-ticket deals in the mining...
SQM partner Tianqi Lithium requests shareholders vote on Codelco tie-up
China's Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company SQM, in which it is a major shareholder, and state-run copper miner Codelco...
BHP shares drop on value concerns after $39bn bid for Anglo American
BHP Group shares fell 4% on Friday a day after revealing a $38.8-billion bid for Anglo American as investors feared a deal could erode BHP's profitability especially if it has to sweeten its...
Anglo American does not find BHP $39bn offer attractive
Anglo American's management does not consider a proposed $39-billion takeover offer from BHP Group as attractive, two sources told Reuters, as some investors and analysts dismissed it as...
Zhaojin Mining ups stake in takeover target Tietto Minerals
China's Zhaojin Mining Industry has increased its voting power in Tietto Minerals, an exchange filing from the Australian gold miner showed on Friday. Zhaojin Capital, a unit of Zhaojin Mining,...
Vale sees no impact from BHP-Anglo American deal on Minas-Rio project
Brazilian miner Vale sees no impact from BHP Group's bid for Anglo American on the latter's Minas-Rio project, its CEO, Eduardo Bartolomeu, said on Thursday. "We don't see any impact on the...
Vedanta misses Q4 profit estimates on lower prices
ndian mining group Vedanta reported a 27% drop in fourth-quarter profit on Thursday, reflecting weaker prices of major metals like aluminium and zinc amid ballooning finance costs. The...
Anglo shareholder LGIM says BHP approach 'unattractive'
Legal & General Investment Management, one of the 20 largest shareholders in Anglo American said an approach by BHP Group is "highly opportunistic" and "unattractive". "As with many other...
Newmont's asset sale attracts strong interest, tops profit estimates
Newmont beat Wall Street estimates for first-quarter profit on Thursday, as the world's largest gold miner benefited from robust production, higher prices and lower operating expenses. Shares rose...
Biden administration aims to clean up power sector with revamped rules
The Biden administration on Thursday announced it has finalised rules targeting carbon, air and water pollution from power plants that it says could cut over one-billion metric tons from carbon...
Vale expects to reach final agreement for Mariana dam reparations in first half of year
Mining company Vale expects to reach a final agreement with authorities for reparations for the collapse of the Samarco tailings dam by the end of the first half of this year, the company told...
Kazakh miner ERG denies circumventing Congo subcontracting laws
Kazakh miner Eurasian Resources Group (ERG) has denied accusations it tried to bypass Democratic Republic of Congo's subcontracting laws designed to boost local ownership in the mining sector, job...
Lower iron, nickel and copper prices weigh on Vale's quarterly earnings
Brazilian miner Vale on Wednesday said lower prices for iron-ore, nickel and copper in the first quarter dragged down earnings compared to the year before, as it posted net profit slightly below...
First Quantum says probability of taking out copper from Panama mine only after election
Canadian miner First Quantum Minerals said on Wednesday the likelihood of taking out the 121 000 t of copper from its disputed Cobre Panama mine can only happen after the Panama national election....
China coal prices have bottomed, will surpass 2023 highs, industry group says
China's domestic coal prices have bottomed out and will exceed 2023 highs this year, a major coal industry group said on Wednesday. "Overall stockpiles are not very high, so if market purchases...
Miner Freeport-McMoRan beats quarterly profit estimates on strong production
Copper miner Freeport-McMoRan beat Wall Street estimates for first-quarter profit on Tuesday, helped by higher production and easing costs. The mining giant said its quarterly production of copper...
Codelco chairman says SQM lithium deal set to give 85% of benefits to state
Chile's government is expected to receive 85% of "associated benefits" including taxes and lease payments from a planned partnership between state-run copper miner Codelco and lithium company SQM...
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