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Coal use set to drop in Europe's power mix as weather moderates

9th June 2023

Europe is on track for limited power demand in June on the back of favorable weather trends, reducing the need for the region to burn coal in generation. Mediterranean countries are expected to... 


Top South African fund bets on platinum as power cuts hit miners

8th June 2023

A fund run by one of South Africa’s largest asset managers has altered its approach on platinum, seeing better returns from betting on the physical metal, while offloading shares in companies that... 


China’s gold binge extends to seventh month as holdings climb

China’s gold binge extends to seventh month as holdings climb

8th June 2023

China increased its gold reserves for a seventh straight month, signaling ongoing strong demand for the precious metal from the world’s central banks. China raised its gold holdings by about 16 t... 


Trafigura CEO Jeremy Weir

Trafigura traders share $3bn payout on record profit

8th June 2023

Trafigura Group paid $3-billion to its top traders and executives as the commodity trading giant notched up a fresh record profit in the six months to March. The payout — Trafigura’s highest ever... 


South African current-account deficit narrows more than expected

8th June 2023

South Africa’s current-account shortfall narrowed more than expected in the first quarter, as the value of gold and merchandise exports increased. The deficit in the current account, the broadest... 


Lithium shortages could hand salt a starring role in EV shift

Lithium shortages could hand salt a starring role in EV shift

8th June 2023

Carmakers who faced skyrocketing prices for lithium and other battery metals last year could increasingly adopt sodium-based cells in the future, helping to alleviate strains on raw materials as... 


Copper slump will give way to record buying spree, Citi says

Copper slump will give way to record buying spree, Citi says

8th June 2023

nvestors look set to pile into the copper market on an unprecedented scale in the next few years as usage surges in electric vehicles and renewable energy, according to Citigroup Inc. The key... 


Global carbon markets face upheaval as nations remake the rules

6th June 2023

The $2-billion market for carbon offsets is heading for a massive reset, as a growing number of sovereign governments announce their intention to tax, regulate or restrict trade in credits... 


Top climate finance group floats guidance on Asia coal phaseout

5th June 2023

The world’s biggest climate-finance alliance has launched a public consultation on its guidance for financial institutions and others working to accelerate the managed phaseout of coal power in... 


Public Enterprises Minister Pravin Gordhan

South Africa’s locomotive shortage unresolved after China visit

2nd June 2023

South Africa’s Department of Public Enterprises Minister Pravin Gordhan said he’s yet to resolve an impasse with China that’s held up the delivery of locomotives and parts essential to improving... 


Teck struggles to secure top shareholder’s support on coal split

Teck struggles to secure top shareholder’s support on coal split

2nd June 2023

Teck Resources is struggling to secure the support of top shareholder China Investment Corp (CIC), as the Canadian miner studies options to exit its coal business while fending off a takeover bid... 


Europe’s coal exports surge after buying spree turns into glut

Europe’s coal exports surge after buying spree turns into glut

1st June 2023

Traders are seeking buyers for piles of unused coal before it becomes worthless after the fuel was hoarded to save Europe’s economy from running out of power last year. As concern over energy... 


LME has lost benchmark status in a key part of nickel market

1st June 2023

The London Metal Exchange has lost its benchmark status in a key part of the nickel market since last year’s massive short squeeze, according to one of the biggest producers. Christel Bories,... 


Iron-ore being transported on the Sishen rail line

Operations resume after theft shut key railway serving South Africa's iron-ore exporters

1st June 2023

Transnet Freight Rail (TFR) has resumed mainline operations on its ore corridor in the Northern Cape. Operations on the rail line linking South Africa’s iron-ore hub in the Northern Cape province... 


US-China green energy rivalry 'great for world', Forrest says

1st June 2023

US ambitions to break China’s dominance of green energy supply chains are “great for the world” as long as tensions don’t lead to war, said iron ore magnate Andrew Forrest. The chairman of... 


Newmont to invest $540m in Argentina mine

Newmont to invest $540m in Argentina mine

1st June 2023

Newmont, the world’s biggest gold producer, plans to invest about $540-million at its Cerro Negro mine in Argentina, according to the government of the South American nation. The project will... 


China’s Zijin urges Colombia to protect gold mine after attack

1st June 2023

China’s Zijin Mining Group is asking the Colombian government to retake control of the territory surrounding its Buritica gold mine after the operation suffered a new attack. One worker was shot... 


Glencore said to prepare sweetened to prepare sweetened Teck bid as deadlock drags on

Glencore said to prepare sweetened to prepare sweetened Teck bid as deadlock drags on

31st May 2023

Glencore is getting closer to increasing its offer for Teck Resources Ltd., in a move aimed at ending weeks of limbo in the battle over the Canadian miner’s future. The Switzerland-based... 


Ivanhoe's Kamoa-Kakula mine will help return the DRC to copper heavyweight status.

Peru seen losing title of No 2 copper producer soon to DRC

31st May 2023

Peru is expected to lose its mantle as the world’s No. 2 copper-producing nation to the Democratic Republic of Congo (DRC) by 2026 to 2027, according to consulting firm Wood Mackenzie. “Already... 


World’s top coal miner hikes prices as wage bill surges

World’s top coal miner hikes prices as wage bill surges

31st May 2023

Coal India, the world’s biggest miner of the fuel, raised prices for the first time in five years to offset an increase to its $5-billion wage bill. Prices of the top nine grades of thermal coal... 


Climate battle looms as Alberta Premier Smith takes aim at Trudeau after election win

30th May 2023

Alberta's re-elect conservative leader Danielle Smith has put herself on a collision course with Canada's Liberal Prime Minister Justin Trudeau over climate policies that would weigh on the... 


GM secures financial support for an EV battery plant in Quebec

30th May 2023

General Motors and Posco Future M have secured half of the financing for a C$600-million ($442-million) electric-vehicle battery component plant in Quebec from the provincial and federal... 


Namibia considers taking stakes in mining and petroleum companies

30th May 2023

Namibia is considering taking minority stakes in mining and petroleum production companies amid increasing concerns over local ownership of valuable resources. “We are making a case that local... 


Europe’s unwanted coal heads to China and India as heat builds

30th May 2023

Coal cargoes unwanted in Europe are heading to Asia, where utilities are stockpiling the fuel amid sweltering temperatures heading into the summer. Shipments of about seven-million tons of... 


It’s not a good time to be a steel mill or coal mine in China

29th May 2023

China’s raw materials producers are at the forefront of falling industrial profits as poor demand and price deflation tear into margins at steel mills, metals smelters, chemicals firms and coal... 


DRC President Felix Tshisekedi during his visit to Beijing last week.

China and Congo Presidents meet in Beijing amid mining disputes

29th May 2023

Chinese President Xi Jinping met his counterpart from the Democratic Republic of Congo, Felix Tshisekedi, on Friday in Beijing as the two countries seek to relaunch a partnership worth tens of... 


Australia Trade Minister Don Farrell visited the US over the weekend.

Australia sees 'enormous market' for battery metals in the US

29th May 2023

President Joe Biden’s signature climate policy is helping drive a “golden age of mineral exploration” in Australia, as the US rushes to catch up with China on clean energy technologies, the... 


Hedge funds bet against copper for first time in three years

Hedge funds bet against copper for first time in three years

29th May 2023

Hedge funds are betting against copper on the London Metal Exchange for the first time since the early months of the pandemic — a sharp reversal from just weeks earlier after China’s disappointing... 


Chile sees lithium plan expanding trade ties, foreign investment

Chile sees lithium plan expanding trade ties, foreign investment

29th May 2023

Chile’s government expects its new lithium strategy to expand international trade relationships while attracting more foreign investment to the industry. President Gabriel Boric’s administration... 


Glencore loses more support for climate plan as as coal questioned

Glencore loses more support for climate plan as as coal questioned

29th May 2023

Investor support for Glencore's climate change strategy weakened, obliging the world’s top coal shipper to again consult with shareholders as it defends one of its most profitable businesses.... 


Metals markets face grueling summer as Chinese demand falters

26th May 2023

Big conferences often crystalize the prevailing sentiment in markets. So it’s probably no coincidence that copper has dived below $8 000 a ton and iron ore is trading south of $100 after metals... 


Nippon Steel still in talks with Teck as it seeks stake in coal asset

Nippon Steel still in talks with Teck as it seeks stake in coal asset

26th May 2023

Nippon Steel is still in talks with Teck Resources, despite Glencore's bid for the Canadian miner, as Japan's top steelmaker remains eager to take a stake in Teck's high-grade coking coal asset, a... 


China recovery bigger worry than EU carbon tax, Hindalco MD says

China recovery bigger worry than EU carbon tax, Hindalco MD says

26th May 2023

The uncertainty over China’s economic recovery is proving to be a headwind for metal producers in the short-term even as the longer range demand outlook remains robust due to electrification and... 


Robert Friedland

Friedland says copper market weakness is temporary

25th May 2023

Billionaire mining investor Robert Friedland said the tumble in copper prices is a temporary setback and the metal that’s essential for the decarbonization of the global economy continues to face a... 


BHP confident China property recovery will boost metals demand

BHP confident China property recovery will boost metals demand

25th May 2023

BHP Group is confident China’s troubled property market will turn around in coming months, despite gloomy economic signals pushing iron-ore and copper prices back to levels last seen during the... 


The Whabouchi mine site in Quebec.

Battery boom sparks revival for Quebec’s formerly failed lithium miners

25th May 2023

Nemaska Lithium  was once a cautionary tale for commodities investors betting on North America’s battery metals supply chain. Shareholders lost money when the Canadian mining firm went broke in... 


Commodity bull Goldman says 'we were wrong' but sticks to view

Commodity bull Goldman says 'we were wrong' but sticks to view

24th May 2023

Commodity cheerleader Goldman Sachs Group said its forecasts for major rises in raw materials this year hadn’t panned out well so far, but coupled that assessment with another call for a major... 


Emerging lithium supplier Argentina says it's close to US deal under IRA

24th May 2023

The world’s fastest-growing lithium producer says it could soon gain access to the US market. Argentina has been lobbying to get in on President Joe Biden’s electric-vehicle drive. Landmark... 


Nornickel now earns nearly half of its revenue in Asia

Nornickel now earns nearly half of its revenue in Asia

24th May 2023

MMC Norilsk Nickel, Russia’s biggest miner, now earns almost half of its revenue in Asia while sales in Europe tumble, further evidence of a shift in global commodity flows amid the country’s war... 


Missing recovery leaves China’s metals bears in charge

23rd May 2023

The first gathering of the Asian metals community since the pandemic should have been a celebration, fueled by state stimulus and a long-awaited post-Covid rebound for the world’s top commodities... 


China buys more Australian coal as appetite for quality builds

China buys more Australian coal as appetite for quality builds

23rd May 2023

Australian coal continues to make inroads among Chinese buyers, adding to pressure on domestic prices, with new shipments climbing to their highest level since Beijing halted imports in the fall of... 


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