CATL mine’s unclear future clouds China’s nascent lithium market

A year after Contemporary Amperex Technology’s flagship lithium mine was first shuttered, speculation over its fate is still driving wild price swings, prompting growing concerns among traders and... 

Anglo strikes year-long iron-ore deal with China’s State buyer

Anglo American has struck a yearlong supply deal with China’s State-backed iron-ore buyer, joining BHP Group among miners that have finalised an agreement with the group. South African producer... 

China’s coal-to-chemicals push pays off with record profits

China’s decade-plus quest to replace oil with coal in chemicals production is paying off for industry leader Ningxia Baofeng Energy Group, which pulled in record profits as crude prices soared... 

Lloyds Metals allowed to ready restart works for 40-year shuttered Papua New Guinea copper mine

An Indian iron-ore producer was authorized to work toward restarting a giant Papua New Guinea copper mine that’s been closed for almost 40 years and was once a flash point in a brutal civil war.... 

Rio Tinto aluminium smelter to get Australian gov bailout

The owners of Australia’s biggest aluminum smelter, including Rio Tinto Group, are set to receive a government bailout to keep the plant operating as it grapples with high energy costs, according... 

Presidency rebukes Eskom chair over criticism

South Africa’s presidency rebuked the chairperson of Eskom for publicly questioning the plan to restructure the State power utility. The authorities are committed to ensuring that Eskom doesn’t end... 

South Africa links Russian financing to coup-accused influencer

South African prosecutors allege that Russia financed an attempted escape from the country by a social media influencer wanted by Benin in connection with an attempted coup in that country in... 

South African police sound alarm on political crime before vote

South Africa’s acting police chief said she is deeply concerned about the potential for politically-motivated violence ahead of municipal elections on November 4. South Africa has a long history of... 

Guinea picks Glencore as offtaker for State-owned bauxite miner

Guinea picked Glencore as offtaker to buy bauxite produced by State-owned Nimba Mining Co, as the West African nation looks to manage more closely export flows of the aluminum feedstock. Glencore... 

South Africa already upgraded by Bond Market as rating firms lag

South African authorities are focused on hitting budget targets rather than pleasing credit-rating firms, according to the government’s top finance official — and the reward is a bond market that’s... 

Deutsche freezes Radiant World funds as miners move to cut ties

Radiant World is under growing pressure after two of its key banks froze its funds and major miners moved to cut ties with the iron ore trading house. Deutsche Bank and KBC Group have frozen some... 

Eskom warns grid reform may jeopardise finances, rattle lenders

South Africa should hold off on transferring assets from Eskom to a separate transmission company until the government addresses risks to the State power utility’s finances and its lenders,... 

Subianto's radical commodity export plan for Indonesia faces dueling visions

More than two months after President Prabowo Subianto unveiled plans to take control of Indonesia’s top commodity exports, the agency charged with carrying out the proposal is caught between... 

Sasol’s wartime windfall revives debate over coal’s future

Sasol, the world’s largest producer of fuel from coal, is reaping the benefits of a surge in fuel prices due to the Iran war, while helping shield its home market of South Africa from the resulting... 

US-backed group favored as investor in Tanzania nickel project

A US government-backed consortium has been picked as the favored candidate to invest in a large nickel project in Tanzania, as the Trump administration looks to fund new supplies of key metals.... 

Climate change set to redraw Africa’s malaria map, study finds

Climate change is poised to expose more people to malaria in cooler parts of Africa by the end of the century, with cases potentially rising as much as 20% in coastal southern Africa, according to... 

Iron-ore hits one-year low on trader concerns and demand outlook

Iron-ore sank to the lowest level in more than a year amid concerns about a major physical trader of the commodity, which compounded existing market softness linked to a challenging demand outlook.... 

Europe’s key rivers are drying up as extreme heat impact widens

Europe’s biggest rivers, vital arteries for the region’s heavy industries, are drying up after the region was seared by a series of heat waves. As water levels in the Rhine and Danube fall toward... 

Goldman sees more South Africa rating upgrades on strong revenue

South Africa’s revenue outperformance puts the country on course for further credit-ratings upgrades over the next year, Goldman Sachs Group Inc. said. National Treasury data for June shows... 

Seiso Mohai is PIC's new chairperson

South Africa’s government appointed a new chairperson at the State-owned fund manager that oversees $220-billion, seeking to restore confidence in an institution buffeted by years of governance... 

Central banks bought far less gold than thought at start of year

Central banks bought far less gold at the start of the year than previously thought, and while demand has since rebounded, their purchases are expected to decline this year, according to the World... 

Anglo said to be in talks to sell De Beers for about $1bn

Anglo American is discussing a deal worth about $1-billion to sell its De Beers diamond business, just a fraction of what the one-time diamond monopoly was once worth. Anglo has been looking to... 

PIC seeks fixers after governance meltdown

Africa’s largest money manager plans to appoint private contractors to help change its culture after a slew of suspensions and resignations left the state firm without a chair, board or chief... 

Zambia bets on Pan-African metals exchange to boost mining wealth

Zambian President Hakainde Hichilema plans to spearhead the creation of a Pan-African minerals and metals exchange to help the continent capture greater benefits from its natural resources. The... 

Barrick evacuates Chile workers by helicopter after storm

Barrick Mining Corp said it safely evacuated workers who had been stranded in their Barriales camp in northern Chile after severe storms blocked road access. The workers are in “good health,” the... 

South Africa unexpectedly holds rates as it flags growth risks

The South African Reserve Bank defied expectations and held interest rates steady to support economic growth after revising its inflation forecasts lower, while warning that the renewed conflict in... 

Chinese firms help Zimbabwe secure $300m for lithium mine

Mutapa Energy Resources, Zimbabwe’s State-owned lithium miner, has secured $300-million from a group of companies, which includes Chinese entities, to develop its facilities in the Southern African... 

Gas-rich Australian region backs $28bn data centre project

Australia’s Northern Territory has granted land to a major data center project that claims it could attract A$40-billion ($28-billion) in private investment. The region’s government awarded 185... 

Godongwana set to remove PIC chair – Report

South Africa’s finance chief is preparing to oust his deputy from the position of chairman of the board of the Public Investment Corp, the State pension fund manager that’s been wracked by... 

UK backs $400m AfDB loan for South Africa climate push

The African Development Bank approved a $400-million loan for South Africa and the facility will be guaranteed by the UK as part of its contribution to a climate finance pact between the... 

Lynas' Pentagon rare earth supply deal draws Malaysia scrutiny

A Malaysian parliamentary group is scrutinizing ASX-listed Lynas Rare Earths' agreement to supply rare earths to the US, as lawmakers weigh implications for the nation’s foreign policy and... 

First Quantum said to seek sale of stake in giant copper project

First Quantum Minerals is in talks to sell a stake in one of the world’s biggest undeveloped copper projects as rival miners and strategic investors rush to boost exposure to the metal. First... 

Congo taps Portugal’s Mota-Engil to revive copper rail link

The Democratic Republic of Congo (DRC) approved a plan to partner with Portuguese construction company Mota-Engil SGPS on rehabilitating a key railway used for transporting copper and cobalt. The... 

China expands strategic mineral toolkit with new investment firm

A new, Beijing-backed mining investment vehicle is aimed at bolstering China’s grip on overseas resources, as the country pushes back against US and European efforts to curb its dominance of the... 

India power giant seeks uranium assets overseas in nuclear push

India’s largest power producer is seeking to invest in overseas uranium mines to secure supplies needed to fuel 30 GW of nuclear power capacity it plans to build over the next two decades.... 

South Africa ties R3.6bn Johannesburg funding to debt plan

National Treasury said it will release funding that’s been withdrawn from dozens of municipalities after they’ve submitted plans on how they’ll pay their debts. The Treasury on Tuesday withheld... 

US Defence Agency seeks to buy up to $300m of lithium

The US Department of Defense is buying lithium for its strategic stockpiles as the nation ramps up efforts to reduce supply risks for critical minerals. The Defense Logistics Agency (DLA) is... 

De Beers makes deep diamond price cuts for shrinking buyers club

De Beers has made some of the deepest ever cuts to its official diamond prices, potentially signaling an end to its years-long campaign to hold them well above the market rate. The cuts come at the... 

BHP gets approval to start $15bn copper expansion in Chile

BHP Group has received its first major environmental approval for the expansion of its Escondida copper mine in Chile, enabling a tranche of work worth as much as $14.7-billion to start. The... 

Biggest Africa solar minigrid firm plans $650m expansion

WeLight, which operates more solar mini-grids in Africa than any other company, is planning a $650-million expansion to grow the number of people it serves 10-fold as its expands into countries...