US power use to beat record highs in 2026 and 2027 as AI use surges, EIA says

US power consumption, which hit its second straight yearly record high in 2025, will rise further in 2026 and 2027, driven by AI-hungry data centers and electrification, the Energy Information... 

Oil surges, stocks tumble as Trump declares Iran MoU 'over'

Oil surged by more than 5% on Wednesday and global stocks and bond prices tumbled, as investors fled risk assets after US President Donald Trump said the memorandum of understanding signed with... 

Tanzania's central bank buys 28 t of gold over past 18 months for reserves

Tanzania's central bank has bought about 28 metric tons of gold over the past 18 months to bolster its international reserves and support the shilling currency, its Governor Emmanuel Tutuba said.... 

Cuba struggles to restore power to island following nationwide grid collapse

Cuba struggled on Tuesday to restore power after its national grid collapsed the day before, leaving millions still without electricity across the Caribbean island nation. Authorities have yet to... 

Global oil output to return to pre-Iran war level by year's end, US EIA says

Global oil output and trade flows should rebound fully by the end of this year from the disruptions caused by the Iran war, the US Energy Information Administration (EIA) said on Tuesday. Global... 

Petrobras signs $58m deal with Brazil regulator to bring wells into compliance

Brazilian State-run oil firm Petrobras signed an agreement with regulator ANP committing to bring 335 temporarily abandoned offshore wells into compliance with safety and environmental rules, both... 

Trans Mountain pipeline reaches settlement with oil shippers on tolling dispute

Trans Mountain said on Tuesday it reached a settlement with oil shippers after 18 months of negotiating a dispute about the tolls the pipeline charges its customers to carry oil. Trans Mountain,... 

Latin American countries, some steelmakers argue for US tariff exemptions

Several Latin American countries said on Tuesday they are working to prevent the import of goods produced with forced labor, urging the Trump administration to exempt them from proposed new US... 

Australia's Ioneer signs MoUs with South Korean firms for lithium-boron project

Australian lithium miner Ioneer said on Wednesday that it has signed separate non-binding memorandums of understanding (MoUs) with South Korea's Korea Overseas Infrastructure & Urban Development... 

Japan Q3 aluminium premiums soar to highest since 2015 on Mideast supply squeeze

Japanese aluminium buyers agreed to pay premiums of $395 a ton for shipments between July and September, the highest since 2015, as the US-Israeli war on Iran squeezed supply, five sources involved... 

Vietnam looks at more coal power plants as Iran war complicates LNG plans

Vietnam's government is considering building more coal-fired power plants to ensure it can meet its energy needs, the government said on Wednesday, as the Iran war further complicates its slow... 

BHP iron-ore workers threaten first strike in decades at Port Hedland

Hundreds of workers at BHP's Port Hedland iron-ore operations in Western Australia could walk off the job next week, in what would mark the biggest industrial action there in decades, potentially... 

China gold reserves rise most since 2023 even as bullion tumbles

China's central bank reported its biggest monthly increase in gold reserves in more than two and a half years in June, official data showed on Tuesday, although bullion prices tumbled. China's... 

Italy's Eni buys minority stake in EnergyX's lithium project in Chile

Italian energy group Eni said on Monday it signed a deal to buy a 25% stake in Black Giant, a subsidiary of US startup EnergyX, which is developing a lithium project in Chile. Lithium is... 

Alberta, Ontario propose new 2 050-mile Canada oil pipeline

Alberta and Ontario on Monday proposed a new 2 050-mile (3 300 km) crude oil pipeline between the two Canadian provinces that they said would initially move 500 000 barrels per day (bpd) and reduce... 

Oil prices settle at pre-Iran war levels as crude output grows

Oil prices settled around pre-Iran war levels on Monday as Saudi Arabia slashed its official selling prices, OPEC+ approved another production target increase starting in August, and exports... 

Vale chairperson Stieler resigns

Brazilian miner Vale said on Monday chairman Daniel Andre Stieler resigned from the role and from his seat on the board of directors, effective immediately. The resignation came after pension fund... 

Corporate Japan's rare-earth warnings get louder as China keeps the spigot closed

A shortage of critical minerals is starting to affect the broader Japanese economy, adding a sense of urgency for Prime Minister Sanae Takaichi's government to find alternatives to exports that... 

Australia's Lynas, South Korea's JS Link sign deal for Malaysia magnet factory

Lynas Rare Earths said on Tuesday it has signed a partnership deal with South Korea's JS Link to develop a magnet factory in Malaysia. The Australian rare-earths producer will also supply... 

Global LNG trade hit record in 2025, but Middle East conflict clouds outlook, IGU says

Global liquefied natural gas (LNG) trade hit a record last year as strong US exports and rising European imports offset weaker Asian purchases, the International Gas Union (IGU) said in a report on... 

Congo sees no major threat from Middle East crisis to copper, cobalt output

Democratic Republic of Congo does not expect significant disruptions to copper and cobalt production this year due to chemical supply constraints stemming from conflict in the Middle East, a senior... 

Poland's KGHM is exploring acquisition possibilities outside Europe, CEO says

Poland's state-controlled copper and silver miner KGHM is exploring potential acquisition opportunities outside Europe under its new strategy, including projects in Morocco, Argentina, Canada and... 

Citi gains seat at heart of global bullion trading with clearing approval

Citi has become the fifth bank to clear transactions in London's over-the-counter gold market, the world's largest bullion trading centre, in a major expansion of its precious metals business, the... 

JPMorgan sees $4 500 gold price in fourth quarter, says risks to downside

JPMorgan said demand for gold from key sectors would not be as strong as it had expected, limiting the rise in gold prices this year to $4 300/oz in the third quarter and $4 500/oz in the fourth... 

Congo cobalt exporters fear losing quotas due to administrative glitch, sources say

Major cobalt producers in the Democratic Republic of Congo (DRC) risk losing some of their first-half export quotas due to an administrative glitch affecting a customs platform, according to... 

Fortescue served with class action alleging sexual harassment, discrimination

Iron-ore major Fortescue on Monday confirmed it had been served with a class action on behalf of current and former female employees alleging sexual harassment and sex discrimination. 

Chile's Novandino Litio seeks enviro approval for $3bn Atacama lithium project

Novandino Litio, the joint venture between Chilean lithium producer SQM and State-owned copper miner Codelco, filed for environmental approval on Friday for a $3-billion project aimed at extending... 

New Zealand backs two minerals projects with up to NZ$50 million

New Zealand will provide up to NZ$50-million ($31-million) to two West Coast projects that expand processing capacity for critical minerals used in advanced manufacturing and clean-energy... 

Australia's Genesis lobs $3.9bn bid for Vault as M&A frenzy builds

Genesis Minerals has lobbed a bid worth about A$5.6-billion ($3.9-billion) for Vault Minerals, topping an existing offer from Regis Resources, as surging gold prices fuel a consolidation wave in... 

Antofagasta to seek enviro approval for Encierro, Volcanes exploration in fourth quarter

Chilean copper miner Antofagasta plans to submit environmental applications to broaden its exploration activities for its Encierro and Volcanes projects in the fourth quarter of this year,... 

Oil prices little changed ahead of long US weekend as peace efforts hold

Oil prices were little changed on Friday before a long holiday weekend in the US, as traders held on to hopes that attempts to secure peace in the Middle East between the US and Iran would... 

Brazil aims to lift global share of critical minerals output to 12.2% by 2050

Brazil will unveil its National Mining Plan 2050 on Thursday, setting a target to increase its share of global critical minerals production to 12.2% by that year, from 8.3% currently, said the... 

Codelco debt and high costs hurt competitiveness, document says

Chile's State-run copper giant Codelco sees soaring costs, which are over one-and-a-half times above its global rivals, and heavy debt are the main challenges to the struggling company's... 

Australia flags risk to iron-ore price from China State buyer

An Australian government report on Friday said efforts by China's State-backed iron-ore buyer to cut costs for Chinese steel mills may push down prices in the medium term, in a rare acknowledgment... 

BHP to transfer Arizona property to Canada's Faraday Copper for 30% stake

Australian miner BHP Group has agreed to transfer its San Manuel property in Arizona to Faraday Copper Corporation in exchange for a 30% stake in the Canadian miner, as Faraday seeks to develop a... 

Canada, Alberta announce new west coast oil pipeline to boost exports

Canada announced plans to build a new oil pipeline from Alberta to the Pacific coast, which would give the world's fourth-largest oil producer greater capacity to export to Asia and ease its... 

BHP workers approve Pilbara labour deal, unions cite lingering concerns

Workers at BHP's South Flank and Mining Area C iron-ore operations in Western Australia have voted to approve a new labour agreement, unions said on Friday, while noting that many remained... 

US envoy says Cook Islands minerals are a top priority

The new US ambassador to New Zealand and several Pacific island nations said on Friday that securing Cook Islands seabed minerals was a top priority, and that China's push for influence in the... 

Agnico Eagle suspends Quebec pit mining, flags production hit

Miner Agnico Eagle Mines said on Thursday a rock mass movement occurred along the north wall of the Barnat open pit at its Canadian Malartic complex in Quebec, prompting a temporary suspension of... 

Antofagasta agrees spot-indexed copper ore sales with some Chinese smelters, SMM says

Chilean miner Antofagasta has agreed to sell term copper concentrate supplies to some Chinese smelters at spot-indexed prices with a guaranteed floor, industry information provider SMM reported on...