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Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

Gold erases loss as investors weigh impact of Trump’s Covid-19

2nd October 2020 Gold erased a decline after President Donald Trump announced early Friday that he and First Lady Melania Trump had tested positive for Covid-19, roiling global assets and lifting the dollar. Trump tweeted that he and the first lady would “begin our quarantine process,” shortly after one of his... 

Trump moves to expand rare earths mining, citing China threat

1st October 2020 President Donald Trump signed an executive order declaring a national emergency in the mining industry, a move aimed at expanding domestic production of rare earth minerals vital to most manufacturing sectors. The order directs the Interior Department to explore using the Defense Production Act... 

Gold-buying by central banks seen climbing from near decade low

30th September 2020 Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year. Citigroup Inc. sees demand from the official sector rising to about 450 tons after a drop to 375 tons this year, which would be the lowest in a... 

EV demand will spark lithium mining reinvention

30th September 2020 Lithium producers must reinvent mining methods for the key metal used in rechargeable batteries to meet rising demand from the electric-vehicle industry, according to Standard Lithium’s top executive. “The industry’s going to have some challenges as higher purity lithium compounds are required --... 

Zambian royalty spat halts $2bn of copper mine investment

30th September 2020 Copper miners in Zambia have halted $2-billion of planned investments because a royalty tax introduced last year makes the projects unviable, according to an industry lobby group. A plan by First Quantum Minerals to invest $1-billion extending the life of its Kansanshi operation won’t proceed... 

Cleveland-Cliffs CEO says focus after ArcelorMittal deal is emissions

29th September 2020 The head of Cleveland-Cliffs sees an “era of clean steel” ahead, and its main focus will be on cutting carbon emissions as it expands production of the metal with a second major acquisition this year. Cliffs, which on Monday said it will purchase the US operations of ArcelorMittal for... 

Tesla is trying to mine its own lithium after dropping M&A plan

29th September 2020 Tesla secured its own lithium mining rights in Nevada after dropping a plan to buy a company there, according to people familiar with the matter. The automaker held discussions in recent months with Cypress Development, which is seeking to extract lithium from clay deposits in southwest Nevada,... 

China to phase out coal power around 2050

28th September 2020 One of China’s top climate research institutes says the country will phase out coal power around 2050 on its path toward meeting President Xi Jinping’s new climate targets. Carbon emissions will peak sometime between 2025 and 2030, and total energy demand will start to decline around 2035,... 

Precious metals set for worst week since March on rising dollar

25th September 2020 Gold extended losses, capping a torrid week for precious metals, which are set for their biggest losses since the virus panicked markets in March. Bullion declined again on Friday as the US dollar rose, after touching the lowest since July a day earlier. The outlook for the global economic... 

Poland nears accord to close its coal mines

25th September 2020 Poland may finally be on the path to set the end-date for its unprofitable coal industry as an agreement with mining unions is within sight. Both the government and the unions said they are are ready to adopt the German model for coal-industry restructuring, which would require drafting the... 

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