Posco gets final approval for $3bn low-carbon iron plant

The Australian government has approved South Korean steelmaker Posco Holdings' plans to develop a low-emissions iron-ore processing plant at a major export hub. The project at Port Hedland in... 

Vale says high costs making 10% of iron-ore market lose money

The head of top iron-ore producer Vale estimates that a surge in energy and freight costs triggered by conflict in the Middle East is making about 10% of supply in the global seaborne market... 

South Africa, Zim mulling $500m dam project

South Africa and Zimbabwe are discussing a $500-million dam project to supply water to an industrial hub near their border, according to documents seen by Bloomberg. The proposed Thuli Moswa dam,... 

Luxury giant Richemont and Signet in talks to join bidder for De Beers

Luxury giant Richemont and US retailer Signet Jewelers are in talks to join a consortium that’s in prime position to buy diamond miner De Beers, according to five people familiar with the matter.... 

World’s biggest platinum mine nears decision on underground move

Valterra Platinum is nearing a decision that’s likely to take the world’s largest platinum mine underground. Mogalakwena — half way along the road from South Africa’s capital Pretoria to the... 

Mercuria agrees $250m Congo copper deal with China miner

Mercuria Energy Group has placed another big bet on copper production in the Democratic Republic of Congo, sealing a deal to buy metal from units of Shanghai Jayson New Energy Materials Group. The... 

BHP cuts 300 workers at Australian iron-ore mines as costs rise

Diversified miner BHP Group will make 300 workers redundant at its iron-ore operations in Western Australia as it grapples with a fall in prices of the steelmaking ingredient and higher shipping... 

Australia’s New South Wales backs gas power as coal plants shut

Australia’s most populous State has ruled out batteries and other energy storage in its latest tender to manage expected power shortfalls when its aging coal plants close. New South Wales will... 

Blackouts hit Indian factories as coal crunch feeds into economy

Indian factories, smelters and households are being hit by blackouts and rising energy costs as the impact of plunging coal stockpiles at the country’s power stations ripples through the economy.... 

Glencore shrugs off coal concerns ahead of Australian listing

Glencore shrugged off concerns that its coal portfolio would make it unattractive to Australia’s A$4.8-trillion ($3.3-trillion) pension industry ahead of its listing in Sydney next Wednesday. The... 

South Africa to establish new Commission to oversee State firms

South Africa intends establishing a commission chaired by President Cyril Ramaphosa to coordinate the work of its State-owned firms after shelving plans to place them under the auspices of a... 

Zimbabwe State miner secures $100m for platinum project

Zimbabwe State miner secures $100m for platinum project Zimbabwe’s state-owned Mutapa Platinum Group has secured $100-million to develop its Darwendale project. 

Genesis mulls gold mine sales once Vault takeover is completed

Gold producer Genesis Minerals is looking to sell or spin off some Australian mines after it completes a takeover of Vault Minerals. “We’re in a strategic review at the moment,” Genesis executive... 

World Bank urges Guinea to use iron-ore to diversify economy

The World Bank has urged Guinea to use the revenues from the exploitation of the largest iron-ore reserve on earth to diversify and build a stronger economy. “The question we must ask ourselves is... 

Gemcorp joins Madagascar to raise $5bn for energy, mining

Madagascar wants to raise as much as $5-billion by teaming up with asset manager Gemcorp Capital Management to fund energy, infrastructure and mining projects in the island nation. The partnership... 

Sasol tops emerging market peers on oil-from-coal bonanza

This year’s oil price rally has produced one clear winner: South Africa’s Sasol is the top-performing emerging-market stock outside Asia and many analysts are betting its bull run has further to... 

Nordic business alliance weighs expanding into critical minerals

Nordic Compass, a competitiveness-focused business alliance, is considering branching out into critical raw materials to build up the region’s capacity to process minerals needed by European... 

Radiant cuts more jobs after founder loses control of firm

Radiant World is cutting staff beyond its core iron ore business after a Singapore court last week took control of the troubled commodity trader away from its founder. The latest reductions... 

India burns through coal stockpiles in rush to ease power gap

India’s power plants are rapidly exhausting coal inventories as generators ramp up production to offset weak hydro and the evening drop-off in solar output, prompting the government to invoke an... 

World’s top coal exporter strains to lift output as prices soar

Indonesia, the world’s biggest coal exporter, is failing to tap into soaring prices for the fuel as countries look to offset reduced natural gas supplies from the Persian Gulf. At a conference on... 

China’s coking coal supply squeeze seen lingering into 2027

China’s coking coal squeeze is set to persist into next year, supporting strong import demand even as efforts to revive domestic output start to cool prices. The supply shock triggered by the... 

Indonesia nickel hub to cut production on El Niño-driven drought

Smelters at a major Indonesian nickel-processing hub will be forced to cut output as an El Niño-driven drought reduces the supply of water used to cool and protect equipment, according to people... 

Mining titans hire Rothschild to advise on South Africa F1 deal

A South African consortium led by former Sibanye-Stillwater CEO Neal Froneman is working with Rothschild & Co on a bid to bring Formula One racing back to the African continent. Froneman, mining... 

Australian coking coal miner gets private loan from RRJ Capital

Australian coking coal miner Tahmoor Coal has secured a $140-million private-credit loan from RRJ Capital to restart its operations. The five-year senior secured facility has been signed but not... 

Big iron-ore miners deplete reserves faster than they replace

The world’s biggest iron-ore producers are depleting ore reserves faster than they can replenish them, as the cost and complexity of developing replacements continues to rise, according to Wood... 

Hong Kong sets out global gold hub as driver for commodities, yuan

Hong Kong’s plan to build a global gold hub will provide “an entry point” for trading other commodities and expanding the yuan’s usage on world markets, according to its first-ever five year plan.... 

US miner signs Rwanda tungsten deal to grow western supply

An American miner is partnering with Rwanda’s government to source and process tungsten from the African nation, extending a push to build a Western-aligned supply chain for the strategic metal... 

South Africa urged to lock in reforms before Ramaphosa leaves

South Africa must enshrine its reform process in law to guarantee the momentum gained under President Cyril Ramaphosa endures after he leaves office, said the head of a key business lobby group.... 

Indonesian tycoon Haji Isam lobs low-ball bid for coal miner Bayan

Coal miner Bayan Resources has received a bid from Indonesian tycoon Andi Syamsuddin Arsyad that values the coal miner at a fraction of its market value, according to people familiar with the... 

Albemarle Chile workers to vote on deal to avert lithium strike

Top lithium supplier Albemarle Corporation reached a preliminary wage agreement with union leaders in Chile on the final day of mediated talks before a strike was due to begin, the union said. The... 

Ivanhoe talking to big tech as congo copper project expands

Mining tycoon Robert Friedland said he’s fielding “unconventional interest,” including from US Big Tech, in Ivanhoe Mines’ fast-expanding copper exploration project in the Democratic Republic of... 

World's biggest money managers are rebuilding gold positions

Some of the world’s biggest money managers have rebuilt their gold holdings after prices dropped, betting that long-term drivers of the precious metal will endure even as the US Federal Reserve... 

IDC to sell its stake in Namibian uranium mine

South Africa’s Industrial Development Corporation (IDC) plans to sell its stake in a Namibian uranium project because the mine’s backers include Iranian and Russian entities. The IDC owns about... 

Zambian State mine investor eyes $1.8bn in small-scale gold mining push

Zambia’s State-controlled mining investor expects to unlock more than $1.8-billion from the country’s small-scale gold industry by adopting Ghana’s model for formalizing the sector, its chief... 

Radiant World and its founder sued for $34m in Singapore

Radiant World Corp and its founder are being sued in Singapore’s High Court by a local trade-finance firm, which is registered as a creditor of Radiant World, adding to mounting legal pressure on... 

Anglo, Chinese entity in iron-ore deal

Anglo American has struck a yearlong supply deal with China’s State-backed iron-ore buyer, joining BHP Group among miners that have finalised an agreement with the group. South African producer... 

Mota-Engil said to win deal for US-backed Congo copper railway

Mota-Engil is set to sign a 30-year concession with the Democratic Republic of Congo to operate a key copper and cobalt railway, potentially backed with up to $1-billion of US financing. The deal... 

Owner of Indonesian coal mining giant Bayan Resources in talks over sale

The owner of Indonesia’s PT Bayan Resources is in talks to sell a majority stake in the $28-billion miner to a consortium led by a rival tycoon, in what could be one of the country’s biggest coal... 

Fortescue suspends executive over sexual harassment allegations

Australian miner Fortescue has suspended an executive over sexual harassment allegations, and engaged law firm MinterEllison to conduct an independent investigation into the matter. The incident... 

Tsingshan may triple output at its Zimbabwe steel plant

Tsingshan Holding Group is considering as much as tripling output at a Zimbabwe steel plant it started in 2024, an expansion that could add to pressure on South Africa’s struggling steel industry...