Namibia considers taking stakes in mining and petroleum companies

Namibia is considering taking minority stakes in mining and petroleum production companies amid increasing concerns over local ownership of valuable resources. “We are making a case that local... 

Europe’s unwanted coal heads to China and India as heat builds

Coal cargoes unwanted in Europe are heading to Asia, where utilities are stockpiling the fuel amid sweltering temperatures heading into the summer. Shipments of about seven-million tons of... 

It’s not a good time to be a steel mill or coal mine in China

China’s raw materials producers are at the forefront of falling industrial profits as poor demand and price deflation tear into margins at steel mills, metals smelters, chemicals firms and coal... 

China and Congo Presidents meet in Beijing amid mining disputes

Chinese President Xi Jinping met his counterpart from the Democratic Republic of Congo, Felix Tshisekedi, on Friday in Beijing as the two countries seek to relaunch a partnership worth tens of... 

Australia sees 'enormous market' for battery metals in the US

President Joe Biden’s signature climate policy is helping drive a “golden age of mineral exploration” in Australia, as the US rushes to catch up with China on clean energy technologies, the... 

Hedge funds bet against copper for first time in three years

Hedge funds are betting against copper on the London Metal Exchange for the first time since the early months of the pandemic — a sharp reversal from just weeks earlier after China’s disappointing... 

Chile sees lithium plan expanding trade ties, foreign investment

Chile’s government expects its new lithium strategy to expand international trade relationships while attracting more foreign investment to the industry. President Gabriel Boric’s administration... 

Glencore loses more support for climate plan as as coal questioned

Investor support for Glencore's climate change strategy weakened, obliging the world’s top coal shipper to again consult with shareholders as it defends one of its most profitable businesses.... 

Metals markets face grueling summer as Chinese demand falters

Big conferences often crystalize the prevailing sentiment in markets. So it’s probably no coincidence that copper has dived below $8 000 a ton and iron ore is trading south of $100 after metals... 

Nippon Steel still in talks with Teck as it seeks stake in coal asset

Nippon Steel is still in talks with Teck Resources, despite Glencore's bid for the Canadian miner, as Japan's top steelmaker remains eager to take a stake in Teck's high-grade coking coal asset, a... 

China recovery bigger worry than EU carbon tax, Hindalco MD says

The uncertainty over China’s economic recovery is proving to be a headwind for metal producers in the short-term even as the longer range demand outlook remains robust due to electrification and... 

Friedland says copper market weakness is temporary

Billionaire mining investor Robert Friedland said the tumble in copper prices is a temporary setback and the metal that’s essential for the decarbonization of the global economy continues to face a... 

BHP confident China property recovery will boost metals demand

BHP Group is confident China’s troubled property market will turn around in coming months, despite gloomy economic signals pushing iron-ore and copper prices back to levels last seen during the... 

Battery boom sparks revival for Quebec’s formerly failed lithium miners

Nemaska Lithium  was once a cautionary tale for commodities investors betting on North America’s battery metals supply chain. Shareholders lost money when the Canadian mining firm went broke in... 

Commodity bull Goldman says 'we were wrong' but sticks to view

Commodity cheerleader Goldman Sachs Group said its forecasts for major rises in raw materials this year hadn’t panned out well so far, but coupled that assessment with another call for a major... 

Emerging lithium supplier Argentina says it's close to US deal under IRA

The world’s fastest-growing lithium producer says it could soon gain access to the US market. Argentina has been lobbying to get in on President Joe Biden’s electric-vehicle drive. Landmark... 

Nornickel now earns nearly half of its revenue in Asia

MMC Norilsk Nickel, Russia’s biggest miner, now earns almost half of its revenue in Asia while sales in Europe tumble, further evidence of a shift in global commodity flows amid the country’s war... 

Missing recovery leaves China’s metals bears in charge

The first gathering of the Asian metals community since the pandemic should have been a celebration, fueled by state stimulus and a long-awaited post-Covid rebound for the world’s top commodities... 

China buys more Australian coal as appetite for quality builds

Australian coal continues to make inroads among Chinese buyers, adding to pressure on domestic prices, with new shipments climbing to their highest level since Beijing halted imports in the fall of... 

Vedanta extends record dividend spree with $83m bonanza

Vedanta will award a dividend of 68.8-billion rupee ($830-million), the first payout in the fiscal year to March 2024 after five rounds of generous payments last year. Anil Agarwal’s Indian miner... 

Vale moves ahead with $2.7bn Amazon mining expansion in clean-steel bet

Vale is plowing ahead with a $2.7-billion investment to expand iron output in Brazil’s Amazon, betting demand for high-grade ore will stay strong in an overall softer market. At the world’s... 

Mongolia to supply critical metals to France, Macron says

Mongolia will supply critical metals to France needed for its energy transition, President Emmanuel Macron said on Sunday during the first ever visit to Ulaanbaatar by a serving French president.... 

US imposes sanctions on some of Russia’s biggest gold miners

The US has sanctioned some of Russia’s biggest gold miners, as it imposes fresh penalties on the country’s metals and mining sector. Polyus PJSC, the country’s No. 1 gold miner, and Polymetal, the... 

Billionaire Len Blavatnik unloads last major Russia asset with Rusal sale

Len Blavatnik has sold his stake in Russian aluminum producer United Co. Rusal International, divesting his last major asset in the country where he seeded his $33.5-billion fortune. Blavatnik... 

Lithium miner SQM expects to start contract talks in Chile in coming weeks

SQM, the world’s No. 2 lithium producer, expects to begin negotiations with Chilean State copper behemoth Codelco in the coming weeks on new terms for a mining contract. Both sides will be seeking... 

Cutifani to chair Vale’s battery metals board

Vale SA recruited former Anglo American boss Mark Cutifani to lead an independent board that will oversee its new base metals subsidiary, while flagging “news” on a strategic partner by mid-year.... 

Jokowi rallies global South to follow commodities refining path

Indonesia is rallying developing countries to follow its footsteps in deriving more wealth from their natural resources by climbing up the supply chain. That may start with a July meeting between... 

Agarwal’s Vedanta seeks cash with $500m bond maturing

Billionaire Anil Agarwal’s Vedanta Group is looking to free up cash and raise funds, possibly via a loan, as its $500-million junk-rated bond matures at the end of this month. The board of Vedanta... 

European coal prices fall below $100 for first time since 2021

European coal fell below $100 a ton to the lowest in almost two years as a drop in power demand and gas prices curbed use of the dirtier fuel. Power plants have been favoring gas over coal, with... 

Top stock fund wagers BHP, Rio Tinto will weather iron-ore slump

A top equities fund manager is backing BHP Group and Rio Tinto, betting they can withstand softer iron-ore prices and will benefit as China’s reopening boosts demand for the commodity. Australian... 

EU nears critical-materials agreements with Argentina and Chile

The European Union is working on deals with Argentina and Chile that will widen its access to critical minerals and metals such as lithium needed for electric-vehicle batteries as part of its goal... 

Conflict brings Sudan’s lucrative official gold trade to a halt

Sudan’s official gold industry, the country’s largest revenue earner, has totally collapsed due to a spiraling month-old conflict in the North African country, the head of the state-run mining... 

New York cements itself as the gold mining capital of the world

The momentum has been building for years, but this week made it official: the epicenter of the gold mining industry now lies firmly in New York. The announcement that top-five producer AngloGold... 

LME fights to regain trust after last year's nickel crisis

The embattled London Metal Exchange is still trying to rebuild faith in its nickel contract after an epic short squeeze last year, according to CEO Matthew Chamberlain. The crisis last March, when... 

China copper mine halted after incident leaves six missing

China’s Zijin Mining Group said it stopped operations at one of its mines in Tibet amid a hunt for six people missing after an accident. A search and rescue operation is underway “in full force”... 

Russia uranium deal caused manager exodus at Kazakh mining giant

The sale of a stake in a massive new uranium mine to Russia prompted an exodus of senior managers at Kazakhstan’s state-run miner. The deal for part of the Budenovskoye mine, projected to become... 

LME to require warehouses to feel their nickel bags after heist

The London Metal Exchange is tightening rules for handling nickel by its network of warehouses, following the shock discovery earlier this year that some of its nickel contracts were instead backed... 

Lithium Americas’ breakup is really about China, executive says

Lithium Americas' decision to split the company came down to one thorny issue: US-China relations. The mining company announced a plan in November to separate its Argentine and North American... 

Faster energy permitting gains traction in US debt-limit talks

An agreement on speeding permits for energy projects is emerging as a key potential component in any deal to avert a US default, lawmakers and officials familiar with talks on the debt limit... 

Quebec energy shortfall hurts EV supply chain, says lithium CEO

The top executive of Sayona Mining., which just restarted a lithium mine in Quebec, says there isn’t enough electricity in the Canadian province to power the region’s mining projects. The province...