A glut of coal in China is set to push falling prices even lower

China’s booming coal production is running well ahead of demand at the onset of winter, leading to swelling inventories and plunging prices that analysts forecast will fall further. A gauge of... 

BHP sees rising uncertainty for miners on trade as Trump returns

BHP Group, the world’s biggest miner, expects increasing uncertainty in the near term as US President-elect Donald Trump prepares to implement a slew of tariffs and other trade measures. “In the... 

Nouveau Monde Graphite gets $50m to fund Quebec project

Nouveau Monde Graphite Inc. received $50 million from two government entities to help fund a production facility for electric-vehicle battery materials in Quebec. The equity investment comes as... 

Gold holds decline as focus on fed for next year’s rate outlook

Gold held a decline ahead of the Federal Reserve’s upcoming rate decision, with traders watching for clues about next year’s monetary-policy path. Bullion was steady near $2,647 an ounce, after... 

Australian graphite maker jumps on $755m US plant funding

Shares in Australian synthetic graphite maker Novonix surged after it received a conditional $755-million loan from the US Department of Energy to build a manufacturing plant in Tennessee. Novonix... 

Samarco to invest more than $1bn to resume full capacity

Samarco Minercao expects to invest more than $1-billion to return its iron-ore operations to full capacity by January 2028 — a date that’s more than 12 years after the operation was first sidelined... 

Rio Tinto’s $2.5bn lithium plan is a win for Milei

Rio Tinto Group plans to invest $2.5-billion in a new lithium mine in Argentina in a win for President Javier Milei’s efforts to deregulate the country’s economy and lure foreign investment. The... 

Exxaro is said to have discussed acquiring Tshipi manganese mine

Exxaro Resources has held talks with the owner of one of South Africa’s largest manganese mines about buying the asset, as the coal producer seeks to diversify its business, according to people... 

Australia’s opposition reveals A$331bn nuclear power plan

Australia’s main opposition group laid out a A$331-billion plan to create a taxpayer-funded nuclear power industry in just over a decade, despite the nation’s top scientists saying renewable energy... 

Canada weighs export taxes on uranium, oil if Trump starts trade war

Canada is examining the use of export taxes on major commodities it exports to the US — including uranium, oil and potash — if incoming President Donald Trump carries out his threat to impose broad... 

‘We can’t sit back’: Canada’s Premiers float retaliatory options against Trump

Canada’s provincial premiers are helping to assemble a list of possible retaliatory measures if President-elect Donald Trump follows through on a threat to apply 25% tariffs against all goods the... 

South32 hopeful Trump will allow access to Alaska copper region

South32 is optimistic the incoming Trump administration will open up access to a copper-rich region in northwest Alaska, where the Australian miner has development rights. If the building of a... 

Zimbabwe wants 26% free-carry stake in new mining projects

Zimbabwe is planning to hold 26% of new mining projects on a free carry basis, and will also negotiate with existing operators to acquire a similar stake. “We need to move to a level where we reach... 

Guinea plans sovereign wealth fund backed by iron-ore income

Guinea plans to use some of its income from mining the world’s largest iron-ore reserve to create a sovereign wealth fund. The facility will fund key development projects in the government’s... 

Trump vows fast permits for those investing $1bn in US

President-elect Donald Trump said his administration would help expedite permits for any person or company that invested at least $1-billion in the US. “Any person or company investing ONE BILLION... 

BHP, Rio accused of allowing sexual harassment on mine sites

BHP Group and Rio Tinto Group allowed environments on their Australian mining sites where female staff faced systemic sexual harassment and gender discrimination, according to two class actions... 

Barrick said to seek buyer for Tongon mine as bullion soars

Barrick Gold Corp. is seeking buyers for its Tongon gold mine in Côte d'Ivoire in an effort to sell the aging operation when bullion prices are surging. The world’s No. 2 gold miner started... 

Newmont cuts management jobs in major corporate restructuring

Newmont let go of nearly a dozen managers, including a member of its executive team, as part of a sweeping corporate overhaul, according to people familiar with the matter. The world’s top gold... 

Citi chops back copper forecasts as Trump’s trade tariffs loom

Copper looks set to struggle as extra US trade tariffs from the Trump administration and economic risks in China drag on consumption and prices next year, according to Citigroup. The metal —... 

New Caledonia nickel miner flags ‘fragile’ outlook after restart

Nickel miner Prony Resources New Caledonia warned that its Goro mine in the French territory is economically vulnerable after a recent suspension due to unrest, even as the company restarts... 

Vale Base Metals to make dozens of job cuts in management cull

Vale’s base metals subsidiary will let go of dozens of managers to simplify its corporate structure and improve performance, according to people familiar with the matter. The job cuts are part of... 

Iluka shares slump after warning on its rare earths refinery

Iluka Resources shares tumbled as much as 10% after Morgan Stanley said the Eneabba rare earths project faces economic and execution risks, even after it received A$400-million ($258-million) in... 

Rio’s abandoned Panguna copper mine still a threat, report says

Rio Tinto Group contributed to widespread damage due to waste left at an abandoned copper mine in Bougainville, Papua New Guinea, and risks to local communities are ongoing, a report has found.... 

Citi says deals from Gulf into Africa are keeping bankers busy

Rich investors from the Middle East are scouring Africa for deals in agricultural projects, critical minerals and renewable power, according to Citigroup. They’re looking at countries such as Kenya... 

Gold bulls’ ranks swell as Macquarie raises forecasts for 2025

Gold has scope to push higher next year, likely hitting a record, as the Federal Reserve cuts rates and central banks add bullion to reserves, according to Macquarie Group. The precious metal may... 

Adaro Andalan rises 20% after Indonesia’s largest IPO this year

Shares of coal miner PT Adaro Andalan Indonesia jumped in their first day of trading, in a show of demand for Indonesia’s largest initial public offering in about a year and a half. The... 

Rio Tinto CEO disputes activist call to unify listing

A call for Rio Tinto to abandon its primary London listing doesn’t make economic sense, CEO Jakob Stausholm said after an activist shareholder urged the miner to relocate to Australia. UK hedge... 

Trafigura’s ex-COO defends ‘inspirational’ founder at Swiss bribe trial

Mike Wainwright, Trafigura Group’s ex-COO who’s on trial in Switzerland accused of corruption, has defended the trading house’s late founder Claude Dauphin as an “inspirational person.” Dauphin, a... 

High Court says State can’t order new coal plants

South Africa’s High Court upheld a legal challenge to the government’s plan to procure 1 500 megawatts of new coal-fired power, ruling that it was unlawful because of the potential impact on public... 

The fight over Ghana’s illegal gold rush exposes election risks

There’s no escaping gold in Tarkwa. It’s in the forest. It’s under your feet as you walk the streets of Ghana’s biggest mining town. It’s the economy. Exposed holes in the ground bear witness to... 

Mitsubishi loses $90m in suspected China metal fraud

Mitsubishi has suffered a loss of more than $90-million in China after uncovering suspected fraud by one of its copper traders, according to people familiar with the matter. The loss is the latest... 

Canada mining group uses China ban to push back on Trump tariffs

Canada Mining Group Uses China Ban to Push Back on Trump Tariffs 

China bans germanium, gallium exports to US in tit-for-tat move

China announced an outright ban on several materials crucial to chip-making from being exported to the US citing concerns over military usage, in a tit-for-tat move after President Joe Biden’s... 

Biden touts Lobito project as first US leader to visit Angola

President Joe Biden touted his administration’s ties with Angola, including investment in a railway to deliver critical minerals across the continent as he met with Angolan President João Lourenço... 

Deutsche Bank sticks out among financiers of Peabody’s coal loan

When Peabody Energy agreed to buy the coal assets of Anglo American, only one European lender joined the US investment bankers and private credit specialists financing the deal: Deutsche Bank.... 

Miner RG Gold is said to consider stake sale to fund growth

Kazakhstan miner RG Gold is considering a minority stake sale to help fund the development of projects in the central Asian country, according to people familiar with the situation. RG Gold is... 

De Beers capitulates on diamond strategy with big price cuts

De Beers has cut diamond prices by more than 10% across the board as the world’s biggest producer abandons attempts to put a floor under the slumping market. The diamond industry has been struck... 

Zinc’s wild week may signal volatile era as supplies squeezed

Zinc could see more sharp price swings as growing tightness along the metal’s supply chain leaves buyers exposed to sudden changes in availability. The material used to galvanize steel had a... 

Gold slips as Trump’s BRICS currency warning boosts US dollar

Gold eased, pressured by a rising US dollar after President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new... 

Top copper miner Chile gets back to pre-pandemic output levels

Chile registered its biggest month of copper production this year, and the best October since before the pandemic, as the biggest supplier of the wiring metal recovers from project setbacks. Mines...