Eskom defends pollution record, saying it’s spending billions

South Africa’s State power utility, stung by reports about the health impacts of emissions from burning coal, said it’s spending billions of dollars to reduce them and has an ambitious target to... 

Succession drama grips commodity trading’s billionaire factories

Trafigura Group has fired the starting gun on an era of upheaval at the top of the commodity trading world, with some of the biggest players preparing a new generation of leaders at a moment of... 

Biggest gold miners are missing out on bullion's record run

The world’s biggest gold miners are at risk of missing out on the metal’s record run after spending billions of dollars to become the obvious home for bullion-focused investors. Despite gold... 

Australian gold miner still has plan to drill in war-torn Sudan

Australian gold producer Perseus Mining hasn’t ditched a long-term plan to mine in war-torn Sudan, even as it chases other deals across Africa to sustain its output. The third-biggest... 

Barclays says Rio Tinto dual-listing discount is opportunity

Rio Tinto’s UK-listed shares are trading at a big discount to its Australian stock, and Barclays Plc analysts say there’s money to be made by betting the spread will narrow. Rio Tinto Ltd closed... 

US keen on Africa’s transition 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 –... 

Chile port workers stage protests, threatening commodity exports

Chilean port workers staged protests on Thursday, disrupting the loading and unloading of ships in one of the biggest exporters of raw materials from copper and lithium to pulp and fruit. A... 

Copper rises to 14-month high as Powell affirms Fed rate stance

Copper rose to a 14-month high as expectations for US rate cuts and threats to supply added impetus to a rally that’s been underway since early February. It climbed for a fourth session on the... 

Congo suspends ERG subcontractors at major cobalt mine

The Democratic Republic of Congo (DRC) has suspended nine subcontracting companies working at mines run by Eurasian Resources Group (ERG), as the cobalt and copper producer faces fresh... 

Taiwan rescuers rush to save trapped miners day after earthquake

Taiwan’s emergency response units worked through the night to rescue over one hundred miners and hotel staff and tourists who remain trapped in rubble and other debris more than a day after the... 

Gold sets another record high above $2 300 after Powell comments

Gold set another record high above $2 300 an ounce on the likelihood the Federal Reserve will cut interest rates this year, and sustained demand from central banks. Bullion touched a peak of $2... 

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...