Coronation takes new look at platinum stocks as EV sales slow

The slowdown in sales of electric vehicles worldwide has prompted Coronation Fund Managers Ltd. to take a fresh look at South African producers of precious metals used in traditional gasoline... 

Glencore overhauls embattled Canadian smelters as margins plunge

Glencore is doubling down on a cost-cutting drive at its Canadian copper and zinc plants following job cuts last year, in a further overhaul of its global smelting business following a collapse in... 

UBS boosts gold target to $3 200 as trade risks stay elevated

UBS Group became the latest bank to raise its price outlook for gold on increasing chances of a protracted global trade war — a scenario that analysts expect will continue to drive investors to... 

Copper near five-month high after China vows to boost demand

Copper traded near a five-month high after China vowed to revive consumption in the world’s largest consumer of the metal. The government unveiled a special action plan over the weekend aimed at... 

First Quantum subsidiary to suspend lawsuits against Panama

Cobre Panama, the local subsidiary of First Quantum Minerals, instructed its lawyers to meet with the government’s legal team and suspend its arbitration suits against Panama over the firm’s... 

Tropical cyclone Jude halts Mozambique coal railway, cuts off highway

Mozambique’s main rail line for its top export of coal halted operations this week because of a tropical cyclone that also cut off a national highway. Nacala Logistics, which operates the railway... 

Gold breaks through $3 000 as Trump turbocharges record rally

Gold prices passed $3 000 an ounce for the first time ever, driven higher by a central bank buying spree, economic fragility worldwide, and President Donald Trump’s attempts to rewrite the rules of... 

Anglo American plans fresh job cuts as part of restructuring

Anglo American is planning more job cuts at its corporate office, as it restructures its business by selling assets and spinning off its platinum unit. The company has sent notices to employees who... 

Botswana’s government puts diamond trader deal on back burner

Botswana’s deal to acquire a stake in Belgian gem trader HB Antwerp – proposed by the previous government but never completed – appears to be in limbo. The plan for Botswana to purchase a 24%... 

Rio Tinto backs US recycling project as tariffs upend scrap flow

Rio Tinto Group is investing in Exurban, a company planning to build an Indiana plant to recover metals from mobile phones, computers and other electronic waste, just as the Trump administration’s... 

Panama clears First Quantum to ship stockpiled copper from mine

First Quantum Minerals was cleared to begin shipping out stockpiled copper in Panama, the latest sign authorities may be willing to negotiate a restart of the stalled mine. Panama’s President Jose... 

Gold may rise as high as $3 500 in third quarter, Macquarie says

Gold’s burgeoning safe-haven allure may see it surge to a record high of $3 500 an ounce during the third quarter, according to Macquarie Group analysts. Bullion could average $3 150 an ounce over... 

Copper can reach $10 000 before tariffs bite, says Citigroup

Copper will hit $10 000 a ton in the coming three months, according to Citigroup, which said the global market will remain tight until the timeline for US import tariffs becomes clearer. The metal... 

A global steel war heats up with Trump’s latest tariff offensive

President Donald Trump is unleashing sweeping import tariffs that he says will reverse the decline of America’s steel towns. But the US isn’t the only nation rushing to protect its factory... 

Goldman Sachs anticipates surge in US copper net imports

US net copper imports could rise by 50% to 100% in the coming months due to higher US prices before the Trump administration's planned tariffs, Goldman Sachs said in a note on Tuesday. The May... 

Trump extends trade fight as steel, aluminum tariffs take effect

President Donald Trump’s latest tariffs on steel and aluminum imports came into force Wednesday, extending his trade wars to more of the US’s top trading partners in a risky bid to revive an... 

Rio Tinto seeks to raise as much as $9bn for Arcadium Lithium buyout

Rio Tinto is tapping the US investment-grade bond market Tuesday to raise between $7-billion and $9-billion for its just-closed acquisition of Arcadium Lithium, according to people familiar with... 

Rare earth miner says scarce Brazil financing undercuts industry push

Meteoric Resources is finding it difficult to find local financing for its $420-million rare earth project in Brazil, pushing the Australian firm to expand its search for investors beyond the South... 

Carlyle’s Currie says tariffs to add security premium for metals

Carlyle Group’s Jeff Currie warned of a “security premium” that will be added to the cost of metals like copper as tariffs mean that countries will need to pay more to ensure domestic supplies.... 

Rio Tinto to sell bonds to finance Arcadium Lithium purchase

Rio Tinto Group said it’s seeking to sell bonds in the US to help repay a bridging loan used to finance its $6.7-billion acquisition of Arcadium Lithium. The world’s second-biggest miner didn’t... 

Major copper miner Peru readies US delegation amid tariff threat

Peru is planning to send a delegation to meet with US officials after the Trump administration announced plans to introduce copper tariffs that may affect the South American nation’s biggest export... 

Australia makes Trump tariff exemption push as deadline nears

Australia is playing down the possibility of an exemption from steel and aluminum tariffs expected from US President Donald Trump within days, despite last-minute discussions between officials in... 

Indonesia mulls tax hikes on miners due to budgetary pressures

Indonesia is proposing hiking royalties paid by miners in a bid to bolster public finances that are being strained by President Prabowo Subianto’s spending plans. The Energy and Mineral Resources... 

Saudi’s Zahid to reopen talks with Barloworld’s shareholders

Saudi Arabia’s Zahid Group will start fresh negotiations with the shareholders of South Africa’s Barloworld, after an initial acquisition offer was rejected. The consortium led by Zahid will seek... 

Newmont widens output gap over gold mining rivals

The biggest gold miners are jostling for dominance over the bullion market. Newmont expanded its position as the top producer last year thanks to added output from its 2023 takeover of Australia’s... 

Rio Tinto scraps plans to raise up to $5bn in share sale

Rio Tinto Group has scrapped plans to raise as much as $5-billion in a share sale following pushback from investors, people with knowledge of the matter said. Executives at the mining giant had... 

Mark Carney wins Canada Liberal contest, will succeed Trudeau in days

Mark Carney won the race to become Canada’s next prime minister, putting the former central banker in charge of the country just as US President Donald Trump’s administration threatens its economic... 

Decision nears on $2.6bn of green funds for South Africa

A decision on a disbursement by the World Bank-linked Climate Investment Funds that would trigger a $2.6-billion green-finance package for South Africa may be made as early as Friday, people with... 

Metal for bullets risks bigger shortage after near-300% surge

A global shortage of antimony — widely used in munitions — could worsen as the US and Europe replenish stockpiles of bullets and bombs used in Ukraine, according to the company building one of the... 

Australia ships record amount of gold to US amid race for metal

Australia shipped a record amount of gold to the US in January, as fears over potential tariffs saw traders rush to deliver metal into New York warehouses in order to capitalise on extreme price... 

China’s MMG halts new Congo plant after one year on cobalt slump

A Chinese State-controlled mining company mothballed a cobalt processing plant in the Democratic Republic of Congo only 15 months after opening it due to a historic slump in the price of the... 

US copper prices surge as Trump signals 25% tariff on imports

Copper prices surged by more than 5% in New York — leaping further above other global benchmarks — as US President Donald Trump suggested imports of the metal could be subject to a 25% tariff.... 

Trump to tout tariffs, unveil energy, mineral projects in speech

President Donald Trump will defend his use of tariffs, propose a new natural gas pipeline and move to ramp up production of critical minerals and rare earths in the US in his primetime address to... 

Trade no longer driving growth as in past, IMF’s Georgieva says

Trade is no longer driving global economic growth to the same extent as in the past and policy changes from the new US administration are triggering responses from other nations, according to... 

China to mandate steel output cuts to ease glut, restore profits

China will push the country’s steel industry to cut output, in an attempt to ease a massive glut and restore profitability at mills. Authorities will promote industry restructuring to reduce... 

Congo courts Trump for strategic minerals tie-up as war looms

The Democratic Republic of Congo has offered the US exclusive access to critical minerals and infrastructure projects in exchange for security assistance as it battles a rebellion backed by... 

Copper miners are next bet to fuel Canada stocks outperformance

Investors in Canadian stocks have a new sector in mind that they hope will help insulate their portfolios from the risk of a trade war: copper miners. At the start of the year traders were piling... 

Trump’s Canada, Mexico, China tariffs hit in deepening trade war

President Donald Trump delivered on his threat to hit Canada and Mexico with sweeping import levies, imposing one of the largest increases in US tariffs since the 1930s in a dramatic escalation of... 

Toronto exchange’s mining dominance under threat as explorers exit

Toronto’s claim as the world’s top mining hub is under threat as exploration companies leave Canada and listings dwindle on the nation’s resource-heavy stock exchange. Canada’s once-thriving... 

Zelenskiy says Ukraine ready to accept a minerals deal

Ukrainian President Volodymyr Zelenskiy said he’s willing to meet Donald Trump if the US President invites him again “to solve real problems,” adding his country is ready to accept a minerals deal...