Vedanta’s Zambia copper unit will revamp smelter to boost output

Vedanta Resources’ Zambian copper mining unit plans to refurbish its smelter as part of efforts to ramp up production from operations the company recovered last year. The plant will undergo “a full... 

Citigroup backs silver to soar just as gold’s rally loses steam

Silver will extend a rally beyond $40 an ounce in the coming months on tightening physical supplies and growing investment demand, according to Citigroup Inc., which reiterated a more cautious... 

Ghana moves to hedge gold price to preserve build-up of reserves

Ghana is working on a programme to hedge the price of gold exports as it seeks to shield earnings that have bolstered the central bank’s foreign reserves from future volatility, Governor of the... 

Barrick weighs sale of gold mine to Discovery Silver

Barrick Mining Corp is in advanced talks to sell its last Canadian gold mine to Discovery Silver Corp, according to people familiar with the matter, as the firms seek to capitalize on the soaring... 

China’s lithium giants tumble after first-half profit warnings

Shares in China’s lithium producers fell sharply on Tuesday after two of the largest miners warned that battery-metal woes had weighed on earnings for the first half of the year. Tianqi Lithium... 

Indonesia looking at levy on coal exports

Indonesia, the world’s biggest coal exporter, may impose an export levy on the fossil fuel in a bid to boost state revenues, according to local media reports that cited a government minister. The... 

CMOC boosts cobalt production despite Congo export ban

China’s CMOC Group produced more cobalt at its two mines in the Democratic Republic of Congo (DRC) in the first half of this year, despite the African nation’s ban on exports. The world’s largest... 

Zimbabwe’s top diamond miner cuts 400 jobs as prices slump

Zimbabwe’s biggest diamond miner is cutting 400 jobs, weighed down by a global downturn in the market for natural gems, a company representative said by phone. State-owned Zimbabwe Consolidated... 

Mercuria and Zambia to ship first copper under new partnership

Mercuria Energy Group and a Zambian State-owned company are set to ship their first copper under a new trading partnership after obtaining a government waiver to export a semi-processed form of the... 

Rio Tinto wants to invest more in US copper under Trump tariffs

Rio Tinto says it has a “strong desire” to invest in US copper mining following President Donald Trump’s plans to levy imports of the critical metal. “There is increasing recognition by the US... 

Mali seizes Barrick’s gold as junta leader claims endless rule

Mali’s government seized more than a ton of gold from Barrick Mining, days after the West African nation’s junta leader signed a law granting himself a mandate renewable forever. State helicopters... 

US copper buyers seen paying a high price for Trump’s tariff

US buyers of copper will pay a high price if President Donald Trump pushes ahead with a 50% tariff on refined metal as opposed to copper products such as wiring, according to officials in Chile.... 

Philippine miner sees surge in nickel shipments to Indonesia

Nickel ore shipments to Indonesia from the Philippines are expected to surge this year to meet demand from Chinese-owned refineries affected by Jakarta’s curbs on domestic production, according to... 

Ecuador court to decide on fee that mining industry says imperils drilling

Ecuador’s government and its fledgling mining industry are heading into a legal battle over a controversial fee announced last month. The industry sees the measure as a tax that will stymie... 

Top CEOs want Canada to build a strategic minerals reserve for defence

Canada should become a world leader in producing and processing raw materials for military equipment and defense systems, according to an influential business group. The Business Council of Canada... 

Vedanta Base Metals CEO Griffith quits amid debt, short-seller woes

Vedanta Resources, the Indian mining conglomerate of billionaire Anil Agarwal that was targeted in a short-seller’s report, has lost the top executive of its base metals business, according to... 

Trump says 50% tariff on copper imports to take effect Aug 1

President Donald Trump said the US would begin levying a 50% tariff on copper imports from August 1, confirming a move that will batter producers of everything from automobiles to homes and... 

Copper squeeze unravels with window closing to beat Trump tariff

An acute copper supply squeeze is coming to an abrupt end as President Donald Trump’s plan to soon slap a 50% tariff on the metal narrows the window to profit from surging US prices. Key spreads on... 

Trump to host African leaders offering major mining ventures

US President Donald Trump is scheduled this week to meet the leaders of five African nations that will potentially offer American businesses opportunities in critical minerals and other natural... 

Liberia and Ivanhoe Atlantic sign $1.8bn deal for railway

Liberia and Ivanhoe Atlantic Inc. have signed a $1.8-billion agreement that’ll allow the US mining company to rehabilitate and use the country’s railway infrastructure to transport iron ore from... 

Smelter mishap stokes shutdown push at top copper miner Codelco

A recent mishap at a century-old copper smelter owned by Codelco is stoking debate over the pros and cons of shutting it down as a global smelting glut puts pressure on old, high-cost plants. Some... 

Impala Platinum to close Canada palladium mine

Low palladium prices are forcing Impala Platinum Holdings to shut down its mine in Canada, putting 750 jobs at risk. The Lac des Iles mine is about 1 500 km northwest of Toronto. Impala Canada... 

Canadian mining magnate seeks US projects as Trump deregulates

Canadian mining magnate Frank Giustra is scouring for projects in the US as President Donald Trump cuts red tape and the outlook for metals like copper and gold remains bright. Giustra — a key... 

Trafigura prepays $200m to snap up Ivanhoe’s Congo copper

Trafigura Group agreed to pay $200-million for copper anodes from an Ivanhoe Mines smelter in the Democratic Republic of Congo that’s due to start up in September. Trafigura signed the prepayment... 

Australia’s Albanese heads to China as Trump stresses alliance

Australian Prime Minister Anthony Albanese plans to travel to China from this weekend, seeking to strengthen ties with his country’s largest trading partner while its top security ally US aims to... 

Banks plough billions into coal ‘as if Glasgow never happened’

Global banks channeled more than $385-billion to the coal power industry over the past three years, with annual flows increasing last year from 2023, according to analysis by a group of nonprofits.... 

Gold miner Aura Minerals seeks $210m US listing

Aura Minerals is seeking to raise about $210-million in a US listing, as the gold and copper miner looks to expand its investor base. The company, which already trades on exchanges in Canada and... 

US warns of blackout risk from killing coal as Trump snubs renewables

Blackouts in the US could double by 2030 amid an expected increase in power demand brought on by AI, according to a Trump administration report that blames the expected energy shortfall on the... 

Mexico criminals rob truck full of gold, silver concentrate

Armed thieves robbed a truck carrying 33 tons of gold and silver concentrate belonging to Grupo Minero Bacis, costing the company millions of dollars in losses. Assailants blocked the semi-truck... 

JPMorgan, Goldman Sachs see more upside for South African stocks

South African stocks are poised to extend their rally in the second half, buoyed by an improving outlook for the domestic economy and supportive monetary policy, according to JPMorgan Chase & Co.... 

Iron-ore gets second weekly boost on hopes of supply-side reform

Iron-ore headed toward the highest close since May as China’s renewed focus on supply-side reform lifted expectations for the country’s steel market. Futures of the steel-making ingredient were on... 

Copper snags in Peru highlight rising clout of informal miners

Copper transport disruptions this week in Peru underscore the growing impact of informal mining on global mining corporations that operate in the Andean nation. Frustrated by regulatory... 

Gold set for weekly gain as investors weigh rates, trade impact

Gold remained on track for a weekly gain despite falling on Thursday, as investors weighed lower odds for Federal Reserve interest-rate cuts as well as lingering concerns about the outlook for... 

Canada goods trade deficit narrows on higher gold shipments

Canada’s share of exports destined for the US shrank to the smallest proportion since at least 1997, excluding the Covid pandemic. Shipments to other countries reached a new high, led by gold... 

Gold’s record rally ignites fundraising spree for China miners

A wave of Chinese gold miners is pushing to raise funds in Hong Kong, seeking to capitalise on rising investor interest in the metal during a record-setting rally that’s made it a standout... 

Mineral smuggling from Congo to Rwanda at ‘unprecedented levels’, UN says

Mineral smuggling from eastern Democratic Republic of Congo into neighbouring Rwanda has reached “unprecedented levels” amid the occupation of a large swath of the region by Rwanda-backed M23... 

Rio Tinto-backed aluminium firm to invest $1.1bn in Canada project

Aluminerie Alouette, an aluminium maker that’s partially owned by Rio Tinto, is planning to commit as much as C$1.5-billion ($1.1-billion) to modernising its facilities in northern Quebec,... 

Beijing braces for US trade deals that seek to shut out China

The trade truce between Washington and Beijing may be holding for now, but China is increasingly wary about what’s happening elsewhere: US efforts to forge deals that could isolate Chinese firms... 

Peru copper transport disrupted as informal miners block roads

Roadblocks by informal miners are disrupting transport of copper from some mines in Peru, including those owned by MMG and Hudbay Minerals, said people briefed on the matter. Artisanal miners are... 

Vitol launches mine finance fund as competition grows for metals

Vitol Group and Breakwall Capital have formed a credit fund targeting mining companies in the Americas, as competition among traders for copper and other metals contracts heats up. Valor Mining...