Zambian copper mines desperate for power find an unlikely saviour

Zambia’s biggest mines are turning to a surprising power source as the copper-producing nation battles an unprecedented energy crisis: South African electricity company Eskom Holdings, which until... 

Gold rises to another record high ahead of expected Fed rate cut

Gold rose to another record high — after surging almost 2% to an all-time peak on Thursday — as the dollar extended declines ahead of a widely expected Federal Reserve rate cut next week. Bullion... 

US State Department official sees bipartisan support for Africa critical mineral projects

A senior US State Department official reassured African governments that an initiative to help counter China’s influence through developing infrastructure on the continent will continue even after... 

Lundin CEO says potential buyers are eyeing its European mines

Lundin Mining’s top executive says several potential buyers are looking at its mines in Europe as the Canadian metals producer looks to sell its oldest assets. “We have a lot of interested parties... 

Struggling miners put the brakes on South Africa’s stock rally

South African stocks have their noses in front of emerging-market peers, but glum news from China threatens to weigh on the key mining sector and stymie that outperformance. Johannesburg’s main... 

Lithium world asks if surprise mine shutdown can arrest slump

An unexpected shutdown at one of China’s biggest lithium mines has left the industry scrambling to judge if the move will be enough to end the battery material’s prolonged price slump. The share... 

Transnet breaches loan terms again as debt weighs on investment

Transnet breached loan covenants for a second year running as the South African port and rail operator staggers under a debt burden that’s constraining investments needed to resurrect its ailing... 

Zimbabwe’s biggest miners seek $182m for solar projects

Some of Zimbabwe’s biggest miners are seeking $182-million to develop 200 MW of locally-generated solar power, according to the head of the renewables company responsible for the projects. The... 

Iron-ore tests floor as plunge to $90/t puts mines at risk

Iron-ore’s plunge is about to test the view that the steelmaking material can find solid price support at $90 a ton or more as high-cost mines are nudged out of the market. Futures in Singapore... 

Congo sells copper from Tenke to trio of trading heavyweights

Glencore, Mercuria Energy Group and Trafigura Group are buying copper from the Democratic Republic of Congo’s State miner, which is marketing metal from joint venture projects for the first time.... 

Net zero needs more metals, but less extraction from the earth

The mining industry is currently one of the most significant contributors to planet-warming emissions — but it's on track to become one of the most important sectors for a net-zero future. Annual... 

Anglo American starts cutting stake in Amplats with share sale

Anglo American offered to sell about 13-million shares in Anglo American Platinum (Amplats) in a move aimed at increasing the South African firm’s free float ahead of a full exit. The shares... 

Glencore billionaire Alex Beard appears at UK court accused of corruption

Alex Beard, the billionaire former head of oil at Glencore, appeared for the first time at a London court after being charged with corruption by the UK’s fraud agency. Beard, 57, was accused last... 

Australia should address concerns of mining industry, group says

Australia should resolve issues related to the environment approval process, said Tania Constable, CEO of the country’s minerals council, highlighting the industry’s concerns that the development... 

China sets Up Beijing-backed lithium group to tap salt lakes

China Minmetals will take control of a province-backed lithium company in a bid to speed development of a “world-class” industry extracting the battery material from salt lakes in the far west of... 

Iron-ore slumps below $90 as growth fears hit commodities

Iron-ore sank below $90 a ton for the first time since 2022 as industrial commodities faced sustained pressure from tepid Chinese demand and gathering worries over global growth. Futures for... 

Citi says US election risk will keep metals contained for now

Uncertainty around the US presidential election in November will prevent meaningful gains for metals by subduing global risk appetite and possibly delaying government stimulus in China, according... 

Germany ready to help fund R390bn South African grid revamp

Germany is willing to help fund the R390-billion ($22-billion) that South Africa said it needs to incorporate more solar and wind power into the national grid and ensure its energy security. The... 

China’s steel crisis drives iron-ore to worst week since March

Iron-ore steadied to remain on track for its worst week since March, with few signs of a recovery for China’s beleaguered steel market. “There is no significant improvement in demand for steel... 

Yukon gold mine disaster sparks fears of soaring taxpayer bill

The sudden collapse of Victoria Gold's Eagle Mine — and with it, the company — is part of a long and ugly history in northern Canada. To this day, Canada’s federal government is still cleaning up... 

US agency to join $225m investment in African fibre firm

A US development agency will be one of the main investors as African fibre company Liquid Telecommunication Holdings Ltd. seeks to raise $225 million in equity by the end of the year, according to... 

Chinese lithium producers embrace hedging to manage volatility

Chinese lithium processors are ratcheting up hedging to offset wild swings in the battery metal, a sign that local futures launched around a year ago are gaining traction. Several companies have... 

Indonesia sees nickel holding near current level on new plants

Indonesia’s government sees nickel prices stabilizing near current levels in the future, as new plants in the world’s biggest producer offset rising demand and keep the market well supplied.... 

Iron-ore slides closer to $90 with China’s steel demand at risk

Iron-ore edged closer to its lowest since 2022 as the steelmaking material extended a selloff on fears for China’s crisis-wracked steel industry. Futures in Singapore fell 1.5% to $92.20 a ton by... 

China signs deal to revamp decades-old Southern African railway

China signed an agreement Wednesday to revamp a railway that will help landlocked Zambia, Africa’s second-largest copper producer, export the metal through Tanzania. The heads of state of the three... 

Trafigura struck $400m cash-for-iron-ore deal with MinRes

Trafigura Group has struck a $400-million prepayment deal for iron ore with Mineral Resources, as the Australian miner focuses on preserving cash amid a downturn in its two main commodities. The... 

Codelco bids $500m for stake in key Chilean copper mine

Chile’s Codelco, seeking to retain the title of world’s top copper supplier, made a $500-million offer to buy a stake in a mine run by Teck Resources, people with knowledge of the matter said. The... 

Vedanta to pay $932m in dividend to help parent cut debt

Indian tycoon Anil Agarwal’s Vedanta approved a third tranche of dividend payout, its latest effort to improve the financial position of its indebted London-based mining parent. The Mumbai-based... 

Germany seeks clarity on South Africa’s coal-closure slowdown

Germany’s climate envoy said her country is seeking clarity on South Africa’s plans to slow down the closure of its coal-fired power plants and alter the terms of a landmark climate-finance pact.... 

Coal generates less than half of Australian power for first time

The high winds that have been lashing southeastern Australia over the past few days have pushed coal-fired power below 50% of the country’s power mix for the first time ever. The fossil fuel... 

Tianqi Lithium swings to loss on battery metal’s price plunge

A major Chinese lithium producer swung to its first half-year loss since 2020, hit by the battery material’s massive price slump. Tianqi Lithium Corp. posted a net loss of 5.21-billion yuan... 

Will gold’s tailwinds be enough to overcome September curse?

Gold investors returning from their summer holidays will be eager to see whether the precious metal can sustain its record-breaking rally, or if it will succumb to the curse of September. Bullion... 

Rio, BYD among prospective Enami lithium partners in Chile

Rio Tinto Group and BYD were selected among prospective partners to develop lithium assets in Chile as part of efforts to tap more of the world’s biggest reserves of the battery metal despite... 

Paladin’s takeover of Fission yet to win shareholders’ support

Paladin Energy’s takeover of fellow uranium producer Fission Uranium is in doubt, as it has so far fallen short of winning enough support from shareholders to seal the deal. In July, Paladin... 

Zambia plans State firm to own 30% of critical minerals mines

Zambia plans to establish an investment company that will control at least 30% of critical minerals production from future mines. Mines Minister Paul Kabuswe unveiled a strategy on Thursday that he... 

Lithium bust spurs Ganfeng to delay project capex as losses hit

Battery-material giant Ganfeng Lithium Group said it would delay spending on projects that do not generate “significant” near-term returns after posting a first-half loss, as the industry faces a... 

Lithium startups bet on high demand in battery-powered future

As the world leans into electrification, it will need more lithium. A key ingredient in the batteries that power everything from electric vehicles to cell phones, demand is projected to accelerate... 

Iron-ore’s ‘irrational’ rally past $100 triggers warning

Iron-ore has jumped by about 10% in 10 days to breach $100 a ton, prompting the official journal of China’s metals industry to pen a long article on why the gains are overdone. The steelmaking... 

US sees bipartisan backing for Africa critical minerals projects

A senior US State Department official reassured African governments that an initiative to help counter China’s influence through developing infrastructure on the continent will continue even after... 

Sumitomo files debt overhaul plan for Madagascar nickel mine

Sumitomo Corp has filed a debt restructuring plan to a UK court for its Ambatovy nickel and cobalt project, in Madagascar. The plan would allow it to address plant equipment malfunctions and ensure...