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... 

Africa’s biggest freight rail market set for private operators

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... 

Energy industry’s methane emissions near record despite pledges

Global methane emissions from fossil fuels held near a record high last year, the International Energy Agency (IEA) said in its annual 'Methane Tracker' report, renewing concerns that governments... 

Iron-ore’s split with stocks shows China’s new economy in favour

China’s stock market, and the price of one of the commodities central to its economy, are sending starkly differing signals on the country’s prospects. While iron ore, used to make steel, has... 

After massive bust, global lithium market shows signs of life

After a spectacular bust, battery-metal lithium is showing tentative signs of life on speculation the retracement that convulsed the market last year has forced the conditions for a recovery. The... 

Gold pushes toward record as test of $2 200 looms on Fed outlook

Gold rose toward a record on expectations the US Federal Reserve will move to cut interest rates this year as inflation cools. Bullion for immediate delivery edged higher on Monday after rallying... 

Iron-ore woes deepen as inventories in China keep piling up

Iron-ore slumped almost 5% — heading toward the $110 a ton mark — as disappointing demand in China left the market lumbered with bulging inventories. The steelmaking material has tumbled by almost... 

Vale CEO to keep job through 2024 as miner seeks successor

Vale CEO Eduardo Bartolomeo will retain his job through December while one of the world’s biggest mining companies conducts a search for a successor, according to people familiar with the matter.... 

China’s big policy meet offers little to excite commodity bulls

China’s highest profile political event of the year provided little cheer for commodities bulls hoping for a jolt to demand in the world’s biggest market for raw materials. The National People’s... 

China’s copper smelters to discuss production cut as fees slump

China’s biggest copper smelters are set to meet in Beijing next week to discuss measures to counter a plunge in ore processing fees to the lowest level in years, including potential production... 

China coal group says peak demand imminent as clean power grows

China is rapidly approaching peak coal consumption, but the fossil fuel’s role in helping to address energy security concerns means its use will plateau for some time after that, according to the... 

China coal imports seen flat in 2024, State-run utility says

China's coal imports are expected to be little changed in 2024, despite expectations for an increase of 4% in demand for the polluting fuel, a senior executive of a State-run utility said on... 

Canada’s IPO drought reaches a full year with no end in sight

Canada’s biggest market for initial public offerings is marking a grim milestone of a full year without a new listing, and with investors focused on a narrow set of themes, senior bankers don’t... 

UBS ditches Credit Suisse plan to phase out coal financing

UBS Group is set to scrap a planned phaseout of coal financing that Credit Suisse had backed, as the global wealth manager prepares to unveil how the merged bank will tackle climate change. After... 

China’s commodities imports surge but demand may yet disappoint

China’s raw materials purchases surged in the first two months of the year, as importers took advantage of weaker prices for some commodities and prepared for more stimulus from Beijing to lift... 

Australia, Vietnam upgrade ties amid US-China rivalry

Australia has joined the US in elevating its diplomatic ties with Vietnam to the highest level as Canberra moves to strengthen links across the Asia Pacific against a backdrop of China’s rising... 

Struggling Australian cobalt miner blames Chinese overproduction for job cuts

Australian miner Jervois Global is cutting costs and jobs in response to a plunge in cobalt prices that it’s blaming on Chinese oversupply. The cobalt and nickel producer has axed or made... 

China’s top coking coal miner calls on State to control supply

China’s coking coal industry needs more state protection, including restrictions on supply, according to the chairman of the biggest miner. Beijing should control mining activity, limit output and... 

Gold steady after surging to record on rate-cut bets, haven bids

Gold steadied after surging to a record high in the previous session, boosted by expectations for US rate cuts, geopolitical tensions and the risk of a pullback for equity markets. Bullion rose to... 

Chinese money can’t be solution for cash-strapped Canadian miners, Minister says

Chinese investment can’t be the solution for cash-strapped Canadian miners seeking financial backing, according to Canada’s Natural Resources Minister. “We need to be working to solve access to... 

Metals offer lukewarm reaction to China's economic targets

Base metals drifted lower as traders assessed China’s 2024 economic goals for clues on the prospects for a significant rebound in the construction sector. Industrial commodities have struggled... 

SSR to pay for landslide cleanup at Turkish mine, Minister says

The Turkish unit of SSR Mining will pay for all cleanup costs following a landslide at its Copler gold mine in eastern Turkey, a top government official said, without citing a specific figure.... 

South African economy averts recession as mining sector rebounds

South Africa’s economy escaped a technical recession in the fourth quarter as fewer rotational power cuts helped energy-intensive industries including mining and manufacturing rebound. Gross...