Trafigura rattles zinc market with huge order for LME metal

Trafigura Group has ordered thousands of tons of zinc out of London Metal Exchange warehouses, fueling a rally in prices, according to people familiar with the matter. Orders to withdraw zinc from... 

Australia says it is on track to meet 2030 emissions cut targets

Australia’s government said it is on track to meet its emissions cut targets by 2030, despite earlier concerns that the renewable energy rollout across the country wasn’t moving fast enough to meet... 

Peru Congress fires Mining Minister over Bill to curb informal mines

Peru’s Congress on Tuesday fired the Energy and Mines Minister over a bill the government had introduced to increase oversight on informal miners that had prompted nationwide protests. A majority... 

Vedanta plans to invest $2bn in Saudi copper projects

Vedanta is set to invest $2-billion to build copper-processing facilities in Saudi Arabia, a significant boost for the kingdom’s ambitions to become a global metals and mining hub. The firm,... 

Singapore businessman faces trial over $1.1bn nickel scam

An ex-accountant accused of running a billion-dollar nickel scam that rocked Singapore’s business community is on trial on Tuesday on more than 100 charges related to fraud and money laundering.... 

Peabody lines up $2.1bn loan to buy Anglo’s coal business

Peabody Energy has obtained a $2.075-billion bridge loan from a mix of banks and private credit to back its acquisition of Anglo American’s steelmaking coal business. The US miner plans to... 

South Africa needs a single body to fight corruption, OECD says

South Africa should set up a single agency to fight graft, according to the Organisation for Economic Cooperation and Development (OECD), which led a review of the nation’s procurement practices.... 

Base metals climb as dollar drops after Trump’s Treasury choice

Base metals and iron-ore gained as the dollar dropped following US President-elect Donald Trump’s measured pick for Treasury secretary. All major contracts on the London Metal Exchange advanced,... 

Rio Tinto lifts force majeure for Australian alumina exports

Rio Tinto Group lifted restrictions on exports of alumina from its Gladstone refineries in Australia, according to S&P Global. Rio had declared force majeure — a legal clause allowing a company... 

Gold holds four-day gain on haven demand and dovish Fed comments

Gold held a four-day rally as haven demand added support amid an escalation in Russia’s war with Ukraine, while traders assessed prospects for further easing by the Federal Reserve. Bullion traded... 

Sierra Leone woos miners to clean energy with $11bn

Sierra Leone wants mining companies to connect to the grid and help reassure renewable-energy investors there’s enough demand in the West African nation to justify an ambitious $10.9-billion power... 

Mining chief Ellison tells shareholders: ‘I hate what I’ve done’

Chris Ellison, the MD and founder of Mineral Resources, told shareholders that he deeply regretted actions that have been revealed in recent weeks, including not paying personal tax. “I put that... 

Vedanta pauses bond sale plans after Adani market volatility

Vedanta Resources, controlled by Indian billionaire Anil Agarwal, is reassessing timing for a potential sale of dollar bonds, after a US indictment of the founder of separate conglomerate Adani... 

China’s coal bounty to keep prices in check over peak season

China’s abundance of coal is likely to forestall power outages and suppress prices, even as the country heads into what’s typically a peak season for consumption. Record supply, from domestic... 

Exxon signs deal to supply lithium to battery maker LG Chem

Exxon Mobil has signed a preliminary agreement to provide battery metal lithium to an LG Chem Ltd. plant in the US, strengthening the oil major’s role in the domestic critical minerals supply... 

UBS joins Goldman in forecasting that gold’s rally isn’t over

Gold will rally to $2 900/oz by the end of next year, according to UBS Group, echoing a call from Goldman Sachs Group for further gains as central banks expand their holdings. There’s likely to be... 

Group of nations make COP29 pledge on no new unabated coal power

A total of 25 countries and the EU are pledging to commit to no new unabated coal power in their next round of national climate plans, the latest global pledge aimed at curbing use of the fuel.... 

Zimbabwe power tariff hike sparks 3 000 MW of energy investments

Zimbabwe’s decision to adopt tariffs that reflect costs has sparked a wave of investments in the energy sector that will help ease its power crisis. Since the switch in December last year, energy... 

Rio Tinto report shows bullying remains rife with women targeted

A new report by Rio Tinto Group showed 39% of workers surveyed by the world’s second-biggest miner had experienced bullying within a 12-month period, up from 31% in 2021. Two years after Rio Tinto... 

Mitsui said to be highest bidder for First Quantum's stake in Zambia mines

Japanese trading house Mitsui & Co. has emerged as the highest bidder for a stake in First Quantum Minerals’ Zambian copper mines, according to people familiar with the matter. Mitsui submitted an... 

Australian pension group rejects Mineral Resources pay proposal

A group representing Australia’s A$3.9-trillion ($2.5-trillion) pension industry has recommended its members vote against the remuneration plan of scandal-hit Mineral Resources at the company’s... 

Zambia, Zimbabwe face wake-up call after Kariba dam water levels plunge, Minister says

A plunge in water levels at the world’s largest man-made reservoir, which has left Zambia and Zimbabwe without power for hours, shows why they need to diversify their energy sources, according to a... 

Australia’s national investment fund makes first bet on mining

Australia’s National Reconstruction Fund will invest A$40-million ($26-million) to boost mining equipment manufacturing in the state of Queensland, the billion-dollar vehicle’s first investment... 

Nickel miner Prony plans for restart of New Caledonia production

Nickel miner Prony Resources New Caledonia has brought its staff back onsite as it prepares to restart output after a six-month suspension triggered by riots in the French territory. The company,... 

Boliden is closing in on deal for Lundin's European mines

Sweden’s Boliden is closing in on a deal to buy Lundin Mining’s two European mines, according to people familiar with the situation. The two companies are in advanced talks over the assets, said... 

Soaring demand for copper will help drive mergers, BHP CEO says

Soaring demand for copper will require $250billion of investment over the next decade, helping to drive further mergers in the industry, BHP Group CEO Mike Henry said. “New deposits in certain key... 

Goldman says ‘go for gold’ as central banks buy, Fed cuts in ‘25

Gold will rally to a record next year on central-bank buying and US interest rate cuts, according to Goldman Sachs Group Inc., which listed the metal among top commodity trades for 2025 and said... 

Hydrogen wildcatters are betting big on Kansas to strike it rich

A new Gold Rush is taking shape on a quiet stretch of Kansas prairie. There, a clutch of startups backed by the likes of Bill Gates are searching below the surface for naturally occurring hydrogen,... 

Trump chooses oil fracking boss Wright as energy secretary

President-elect Donald Trump nominated Chris Wright, who runs a Colorado-based oil and natural gas fracking services company, to lead the Energy Department. Wright, the chief executive officer of... 

Gold loses some luster after Trump’s decisive win

Donald Trump’s victory immediately buoyed markets from stocks to Bitcoin. Gold is going to take a lot longer to turn things around. In the two days immediately following the Republican candidate’s... 

BHP warns Australian mining not ready for low-cost competitors

BHP Group’s Australia chief said the nation can’t rely on its traditional mining export markets and is unprepared for a new era of lower-cost competitors. The boom in demand from China’s... 

Coal mines supplying steel mills will face new methane scrutiny

Mines supplying coal for steelmaking will face new pressure over methane emissions as a United Nations watchdog expands its work. The International Methane Emissions Observatory will extend a... 

Zimbabwe lithium miners want royalties to be linked to prices

Zimbabwe lithium miners want royalty payments to the government linked to metal prices as the current market downturn threatens the viability of investment projects. That will ensure “the... 

South Africa’s Barloworld in talks with Saudi Arabia’s Zahid Group

Barloworld is in talks with a group of investors that includes a unit of Saudi Arabia’s Zahid Group about the acquisition of the African distributor of Caterpillar Inc. equipment. The... 

MinRes says it paid rent of A$32m to entities linked to Ellison

Mineral Resources (MinRes) said it paid rent to entities associated with its MD Chris Ellison amounting to well over A$34-million between 2007 to 2024, according to a filing with the Australian... 

Lithium in nascent recovery, but longer-term outlook still bleak

Lithium is enjoying a mini-revival on an uptick in Chinese electric vehicle demand and supply cuts, although analysts caution there’s still likely to be a surplus of the battery metal in 2025.... 

Resolute shares suspended after Mali demands $160m

Resolute Mining suspended trading after Mali demanded the Australian gold miner pay about $160-million to resolve a tax dispute that’s seen its chief executive officer detained. The company’s... 

Mosaic's third-quarter profit falls short of expectations, CFO Freeland to retire

Fertiliser producer Mosaic missed Wall Street estimates for third-quarter profit on Tuesday, hurt by production snags and lower potash prices, sending shares down 8.3% in afternoon trading. The... 

Southern CEO says extending coal among options to meet AI demand

The booming demand for electricity from data centers and new factories requires an “all of the above” energy strategy that opens up the possibility of Southern Co. extending the retirement date of... 

Climate skeptics urge Trump to boost coal, gut science in agencies

Activists who dispute the severity of climate change enjoyed cachet in Donald Trump’s first administration and salivated over the prospect of his return to the White House. Now that he’s won,...