Activist investor Elliott builds $1bn stake in Anglo American

Activist fund Elliott has built up a $1-billion stake in Anglo American, a filing showed on Friday, after the London-listed miner became a takeover target by bigger rival BHP Group. Elliott... 

China's Q1 gold consumption climbs nearly 6% on safe-haven demand

hina's gold consumption in the first quarter of 2024 climbed by 5.94% from a year earlier on soaring safe-haven demand, the country's Gold Association said on Friday. Bullion consumption in the... 

Glencore seeks investment opportunities in Nigerian mining sector

ining and trading house Glencore will invest in Nigeria's mining sector if the government ensures a stable business climate, the company's CEO said on Thursday during a visit to Nigeria's minister... 

FACTBOX: Top deals in the global mining sector

On Thursday, BHP Group bid $38.8-billion for smaller rival Anglo American, offering a deal to forge the world's biggest copper miner. Here is a list of some previous big-ticket deals in the mining... 

SQM partner Tianqi Lithium requests shareholders vote on Codelco tie-up

China's Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company SQM, in which it is a major shareholder, and state-run copper miner Codelco... 

BHP shares drop on value concerns after $39bn bid for Anglo American

BHP Group shares fell 4% on Friday a day after revealing a $38.8-billion bid for Anglo American as investors feared a deal could erode BHP's profitability especially if it has to sweeten its... 

Anglo American does not find BHP $39bn offer attractive

Anglo American's management does not consider a proposed $39-billion takeover offer from BHP Group as attractive, two sources told Reuters, as some investors and analysts dismissed it as... 

Zhaojin Mining ups stake in takeover target Tietto Minerals

China's Zhaojin Mining Industry has increased its voting power in Tietto Minerals, an exchange filing from the Australian gold miner showed on Friday. Zhaojin Capital, a unit of Zhaojin Mining,... 

Vale sees no impact from BHP-Anglo American deal on Minas-Rio project

Brazilian miner Vale sees no impact from BHP Group's bid for Anglo American on the latter's Minas-Rio project, its CEO, Eduardo Bartolomeu, said on Thursday. "We don't see any impact on the... 

Vedanta misses Q4 profit estimates on lower prices

ndian mining group Vedanta reported a 27% drop in fourth-quarter profit on Thursday, reflecting weaker prices of major metals like aluminium and zinc amid ballooning finance costs. The... 

Anglo shareholder LGIM says BHP approach 'unattractive'

Legal & General Investment Management, one of the 20 largest shareholders in Anglo American said an approach by BHP Group is "highly opportunistic" and "unattractive". "As with many other... 

Newmont's asset sale attracts strong interest, tops profit estimates

Newmont beat Wall Street estimates for first-quarter profit on Thursday, as the world's largest gold miner benefited from robust production, higher prices and lower operating expenses. Shares rose... 

Biden administration aims to clean up power sector with revamped rules

The Biden administration on Thursday announced it has finalised rules targeting carbon, air and water pollution from power plants that it says could cut over one-billion metric tons from carbon... 

Vale expects to reach final agreement for Mariana dam reparations in first half of year

Mining company Vale expects to reach a final agreement with authorities for reparations for the collapse of the Samarco tailings dam by the end of the first half of this year, the company told... 

Kazakh miner ERG denies circumventing Congo subcontracting laws

Kazakh miner Eurasian Resources Group (ERG) has denied accusations it tried to bypass Democratic Republic of Congo's subcontracting laws designed to boost local ownership in the mining sector, job... 

Lower iron, nickel and copper prices weigh on Vale's quarterly earnings

Brazilian miner Vale on Wednesday said lower prices for iron-ore, nickel and copper in the first quarter dragged down earnings compared to the year before, as it posted net profit slightly below... 

First Quantum says probability of taking out copper from Panama mine only after election

Canadian miner First Quantum Minerals said on Wednesday the likelihood of taking out the 121 000 t of copper from its disputed Cobre Panama mine can only happen after the Panama national election.... 

China coal prices have bottomed, will surpass 2023 highs, industry group says

China's domestic coal prices have bottomed out and will exceed 2023 highs this year, a major coal industry group said on Wednesday. "Overall stockpiles are not very high, so if market purchases... 

Miner Freeport-McMoRan beats quarterly profit estimates on strong production

Copper miner Freeport-McMoRan beat Wall Street estimates for first-quarter profit on Tuesday, helped by higher production and easing costs. The mining giant said its quarterly production of copper... 

Codelco chairman says SQM lithium deal set to give 85% of benefits to state

Chile's government is expected to receive 85% of "associated benefits" including taxes and lease payments from a planned partnership between state-run copper miner Codelco and lithium company SQM... 

Woodside investors vote down climate plan, rebuking Australia's top gas producer

Shareholders rejected Woodside Energy's climate plan on Wednesday, marking a symbolic victory for activists who have called for Australia's biggest gas producer to stop new fossil fuel projects,... 

LME moves to stop gaming of Russian aluminium sanctions-based rule

The London Metal Exchange (LME) moved on Tuesday to stop traders from taking Russian aluminium from its approved warehouses and returning it at a later date to profit from rule changes to comply... 

OceanaGold prices $106m IPO of Philippine unit

Toronto-listed miner OceanaGold said on Wednesday it will raise 6.08-billion pesos ($106-million) through an initial public offering (IPO) of its Philippine unit, the first listing in the Southeast... 

Boliden's profit halves as strikes, bad weather weigh

Swedish miner Boliden's first-quarter operating profit fell more than 50% as bad winter weather, lower mining grades and labour strikes weighed on earnings, it said on Tuesday. Operating profit... 

China can't quit coal by 2040, researchers say, despite global climate goals

China's coal consumption will fall by just one-third by 2040, according to a report by a European consultancy published on Tuesday, threatening climate targets that call for phasing out much of... 

Rio Tinto, Eramet and LG Energy seek to develop lithium extraction tech for Chile

Rio Tinto, Eramet and LG Energy are among 30 companies that have submitted proposals to develop lithium extraction technology for a Chilean salt flat in the early stages of exploration, state-run... 

Zambia seeks power imports for key mining sector

Zambia's State-owned electricity utility Zesco said on Monday it is seeking to import power to avert an energy deficit that could affect output in Africa's second-largest copper producer. The... 

Zijin's Congo mine shipments returned due to radiation levels, ministry says

Mineral shipments from a Congolese copper and cobalt operation majority-owned by China's Zijin Mining Group were returned due to overly high radiation levels, the Congolese mines minister said in a... 

Canada's planned capital gains tax hike may choke mining startups, dealmakers say

Canada's capital gains tax hike for wealthy individuals and corporations in last week's federal budget risks turning away investments from mineral exploration by reducing incentives, the country's... 

Copper demand to boom as new technology drives power consumption, Trafigura says

Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10-million metric tons of additional copper consumption over the next decade,... 

Albemarle, Cummins receive tax credits under Biden's clean energy drive

Albemarle, Cummins and Siemens Energy are some companies that received tax credit under a section of the Inflation Reduction Act (IRA), according to details released on Friday by the US Department... 

Nornickel set to build copper plant in China after shutting Russian factory

Metals giant Nornickel will close its copper plant that seeks to cut sulphur dioxide emissions in the Russian Arctic and build a new one in China, CEO Vladimir Potanin said, after Western... 

BHP says it aims to receive first ammonia-fuelled bulk carrier in 2026

Australia's BHP Group is planning to receive its first ammonia-fuelled bulk carrier in 2026 as part of the company's plans to cut shipping emissions, a senior executive said. The global mining... 

Australian pension major votes against Woodside chair, climate plan ahead of AGM

Australia's third-largest pension fund has voted against the re-election of Woodside Energy chair Richard Goyder and the firm's climate action plan in a rebuke to the company's campaign to win... 

Vale Indonesia shareholders approve rights issue plan

Shareholders of nickel miner PT Vale Indonesia approved a rights issue that will facilitate the acquisition of a stake by Indonesia state mining holding company MIND ID, the company said in a... 

G7 still looking at frozen Russian assets to help Ukraine, foreign ministers say

The Group of Seven (G7) major powers are continuing to look at ways to use frozen Russian sovereign assets to help fund support for Ukraine, G7 foreign ministers said on Friday. "As requested by... 

US restricts drilling and mining in Alaska wilderness, angering state leaders

The Biden administration on Friday took steps to limit both oil and gas drilling and mining in Alaska, angering state officials who said the restrictions will cost jobs and make the US reliant on... 

Codelco eyeing more output, not competition with BHP, Chile's mining minister says

Chile's State-run copper miner Codelco must focus on boosting its production, but it has a global prestige that would not be tarnished if it cedes its role as Chile's top producer to rival BHP,... 

South Africa contingency reserves won't be spent on Eskom, Transnet – Godongwana

South Africa will use future drawdowns of its Gold and Foreign Exchange Contingency Reserve Account to curb its debt burden, Finance Minister Enoch Godongwana said, adding he was pondering tax... 

Lithium Americas to raise $275m for Thacker Pass mine

Lithium Americas said early on Thursday that it would raise $275-million to accelerate construction and development of the Thacker Pass lithium project in Nevada. The company will sell 55-million...