Energy industry’s methane emissions near record despite pledges

Global methane emissions from fossil fuels held near a record high last year, the International Energy Agency (IEA) said in its annual 'Methane Tracker' report, renewing concerns that governments... 

Iron-ore’s split with stocks shows China’s new economy in favour

China’s stock market, and the price of one of the commodities central to its economy, are sending starkly differing signals on the country’s prospects. While iron ore, used to make steel, has... 

After massive bust, global lithium market shows signs of life

After a spectacular bust, battery-metal lithium is showing tentative signs of life on speculation the retracement that convulsed the market last year has forced the conditions for a recovery. The... 

Gold pushes toward record as test of $2 200 looms on Fed outlook

Gold rose toward a record on expectations the US Federal Reserve will move to cut interest rates this year as inflation cools. Bullion for immediate delivery edged higher on Monday after rallying... 

Iron-ore woes deepen as inventories in China keep piling up

Iron-ore slumped almost 5% — heading toward the $110 a ton mark — as disappointing demand in China left the market lumbered with bulging inventories. The steelmaking material has tumbled by almost... 

Vale CEO to keep job through 2024 as miner seeks successor

Vale CEO Eduardo Bartolomeo will retain his job through December while one of the world’s biggest mining companies conducts a search for a successor, according to people familiar with the matter.... 

China’s big policy meet offers little to excite commodity bulls

China’s highest profile political event of the year provided little cheer for commodities bulls hoping for a jolt to demand in the world’s biggest market for raw materials. The National People’s... 

China’s copper smelters to discuss production cut as fees slump

China’s biggest copper smelters are set to meet in Beijing next week to discuss measures to counter a plunge in ore processing fees to the lowest level in years, including potential production... 

China coal group says peak demand imminent as clean power grows

China is rapidly approaching peak coal consumption, but the fossil fuel’s role in helping to address energy security concerns means its use will plateau for some time after that, according to the... 

China coal imports seen flat in 2024, State-run utility says

China's coal imports are expected to be little changed in 2024, despite expectations for an increase of 4% in demand for the polluting fuel, a senior executive of a State-run utility said on... 

Canada’s IPO drought reaches a full year with no end in sight

Canada’s biggest market for initial public offerings is marking a grim milestone of a full year without a new listing, and with investors focused on a narrow set of themes, senior bankers don’t... 

UBS ditches Credit Suisse plan to phase out coal financing

UBS Group is set to scrap a planned phaseout of coal financing that Credit Suisse had backed, as the global wealth manager prepares to unveil how the merged bank will tackle climate change. After... 

China’s commodities imports surge but demand may yet disappoint

China’s raw materials purchases surged in the first two months of the year, as importers took advantage of weaker prices for some commodities and prepared for more stimulus from Beijing to lift... 

Australia, Vietnam upgrade ties amid US-China rivalry

Australia has joined the US in elevating its diplomatic ties with Vietnam to the highest level as Canberra moves to strengthen links across the Asia Pacific against a backdrop of China’s rising... 

Struggling Australian cobalt miner blames Chinese overproduction for job cuts

Australian miner Jervois Global is cutting costs and jobs in response to a plunge in cobalt prices that it’s blaming on Chinese oversupply. The cobalt and nickel producer has axed or made... 

China’s top coking coal miner calls on State to control supply

China’s coking coal industry needs more state protection, including restrictions on supply, according to the chairman of the biggest miner. Beijing should control mining activity, limit output and... 

Gold steady after surging to record on rate-cut bets, haven bids

Gold steadied after surging to a record high in the previous session, boosted by expectations for US rate cuts, geopolitical tensions and the risk of a pullback for equity markets. Bullion rose to... 

Chinese money can’t be solution for cash-strapped Canadian miners, Minister says

Chinese investment can’t be the solution for cash-strapped Canadian miners seeking financial backing, according to Canada’s Natural Resources Minister. “We need to be working to solve access to... 

Metals offer lukewarm reaction to China's economic targets

Base metals drifted lower as traders assessed China’s 2024 economic goals for clues on the prospects for a significant rebound in the construction sector. Industrial commodities have struggled... 

SSR to pay for landslide cleanup at Turkish mine, Minister says

The Turkish unit of SSR Mining will pay for all cleanup costs following a landslide at its Copler gold mine in eastern Turkey, a top government official said, without citing a specific figure.... 

South African economy averts recession as mining sector rebounds

South Africa’s economy escaped a technical recession in the fourth quarter as fewer rotational power cuts helped energy-intensive industries including mining and manufacturing rebound. Gross... 

Gold touches $2 100 as traders scoop up metal on rate cut bets

Gold is within striking distance of a new record high as the market bets the first US interest-rate cut since early 2020 is near. The precious metal briefly rose above $2 100/oz Monday, the... 

World-beating mining stock turns big loser thanks to China slump

Iron-ore behemoth Fortescue’s months-long stock rally suffered a big pullback in February as investors turned sour on the company’s earnings growth and high exposure to slumping metal prices amid... 

Uranium firms revive forgotten mines as price of nuclear fuel soars

Across the US and allied countries, owners of left-for-dead uranium mines are restarting operations to capitalize on rising demand for the nuclear fuel. At least five US producers are reviving... 

China’s Jiangxi Copper buys $212m of First Quantum shares

First Quantum Minerals’ second-largest shareholder bought an additional C$287.5-million in shares of the Canadian metals producer that’s been hurt by the forced closure of its flagship copper mine... 

Nickel may flip to deficit on Indonesia hurdles, Macquarie warns

The global nickel market could swing to a surprise deficit this year if growth in Indonesian output is constrained by slow mining permit approvals, according to Macquarie Group Ltd. While the... 

Indonesia says its nickel supply will keep global prices low

Indonesia, the world’s largest nickel exporter, has a sobering message for struggling producers of the battery metal elsewhere: don’t expect any meaningful revival in prices. Septian Hario Seto,... 

South African researchers trawl through death records to assess coal impact

South African scientists plan to examine about 8.5-million death certificates to ascertain how many people the country’s dependence on coal for electricity is killing. The review is the first of... 

China’s top coal miner cuts production target for 2024

China Shenhua Energy Co., the nation’s top coal producer, has set a lower output target for 2024, as Chinese miners ratchet back operations amid a glut of the fuel. The firm plans to cut annual... 

Nickel faces existential moment with half of mines unprofitable

Many of the world’s biggest nickel mines are facing an increasingly bleak future as they wake up to an existential threat: a near limitless supply of low-cost metal from Indonesia. With roughly... 

South African billionaire Wiese returns to his diamond-hunting roots

Christo Wiese, South Africa’s-billionaire retail king, is going back to the future. The 82-year-old serial investor, who steered the expansion of both Africa’s biggest clothing retailer and the... 

Billionaire Forrest backs carbon levy on Australia fossil fuels

Australia should impose a proposed carbon levy on fossil fuel producers to accelerate efforts to meet climate targets, according to billionaire mining-to-clean energy tycoon Andrew Forrest. “It’s... 

US targets ‘disposable’ firms in new Russian sanctions blast

The latest round of Russia sanctions unveiled Friday targeted hundreds of people and entities from around the globe, including a Liechtenstein company that traded precious metals, a semiconductor... 

Private credit dominates Whitehaven Coal's $1.1bn loan

Australian coal firm Whitehaven Coal drew 17 private credit providers and one bank for a $1.1-billion loan to buy two mines, the latest example of direct lenders benefiting from banks’ tighter... 

Woodside to sell $1.4bn stake in key gas project to Jera

Woodside Energy Group to a $1.4-billion deal to sell a 15.1% stake in its flagship Scarborough liquefied natural gas project to Jera Co., Japan’s biggest power producer, as consumers aim to secure... 

Mozambique mulling $80bn energy overhaul to tap the Zambezi river’s power

Mozambique is seeking to become one of Africa’s biggest hydropower producers and launch a green hydrogen industry. The government plans to add 14 000 MW of hydropower capacity, with the bulk of... 

Posco to import African battery graphite to cut China reliance

Posco Future M Co, which produces battery materials for companies including General Motors Co, is preparing to import graphite from Africa to reduce its dependence on supplies from China. “Graphite... 

Coal output needs to rise as demand jumps, Indian official says

India’s state-run miner Coal India will continue to increase production to meet growing demand and help boost inventories, according to a key government official overseeing the fuel. The producer... 

Australian iron-ore port starts clearing ships ahead of cyclone

A major port on Australia’s west coast used by Rio Tinto Group to export iron-ore has started clearing ships from the harbor ahead of a cyclone that’s expected to form early Friday. All port... 

Aluminum spikes as White House plans fresh sanctions on Russia

Aluminum surged on speculation that a fresh wave of US sanctions against Russia may target the metal, potentially disrupting supplies. US President Joe Biden said the US plans to unveil a “major”...