Goldman now sees two 2026 South Africa rate hikes because of war

Goldman Sachs expects South Africa to raise interest rates twice this year after previously seeing a series of cuts, as the Iran war fans inflation risks around the world. The bank forecasts... 

Copper climbs toward record high as global supply tightens

Copper extended gains above $14 000/t, inching toward a record high seen earlier this year, as supply risks mount on mine disruptions around the world. The red metal rallied for an eighth session... 

Race for critical minerals leaves EU struggling to keep up

For the EU, the fate of a Cold War-era mine near Bratislava is becoming a litmus test for its ambition to break free from China’s chokehold over critical minerals. Sitting in a wooded range of... 

South Africa says war puts R2-trillion revenue goal at risk

South Africa’s newly appointed tax commissioner warned that the Iran war could undermine the government’s ability to meet its revenue targets, as rising fuel prices drive costly subsidies and... 

Freeport Indonesia pushes back Grasberg Copper restart by a year

PT Freeport Indonesia pushed back the full restart of its giant Grasberg copper mine by a year, worsening supply constraints that are already impacting the global market for the metal. The complex... 

Myanmar finds giant 11 000 ct ruby in Mandalay Region

Myanmar has announced the discovery of a massive ruby weighing 11 000 ct (2.2 kg), a rare find even for the country’s central gemstone hub of Mogok near Mandalay. The purplish-red stone, found... 

Japan offers energy loan, ammonia technology to South Africa

Japan plans to fast-track talks with South Africa on a yen-denominated energy loan, while promoting its technology to blend ammonia with coal to reduce carbon emissions in a country that still... 

Top Africa ports miss refuel gain even as Iran war diverts ships

African ports are capturing only a fraction of shipping rerouted around the continent’s southern tip after the closure of the Strait of Hormuz, underscoring their limited ability to turn global... 

South Africa moves to quell fallout from anti-immigrant attacks

South Africa’s foreign ministry is stepping up diplomatic efforts to quell growing concern on the continent about rising anti-immigrant sentiment in the country. Foreign Minister Ronald Lamola said... 

Heidelberg weighs bid to acquire South African cement firm PPC

Heidelberg Materials is in talks with banks to appoint financial advisers as it considers a bid for top South African cement maker PPC, according to people familiar with the matter. The German... 

Kganyago wary of CPI yet guarded on rate outlook

South Africa’s central bank Governor Lesetja Kganyago said policymakers will “very carefully” monitor incoming data to guide their next rate decision, as the Iran war clouds the inflation outlook... 

Canada giving $1.1bn to firms hit by US metal tariff rules

Prime Minister Mark Carney’s government unveiled measures worth C$1.5-billion, or $1.1-billion, to help Canadian firms hurt by the Trump administration’s changes to US tariffs on imports containing... 

Germany sees US as vulnerable to squeeze on potash supplies

German authorities seeking to map out US supply-chain vulnerabilities as a way to win leverage with President Donald Trump’s administration have identified a key pressure point: potash. The US... 

Canadian miner invested in Cuba says it's asssessing Trump's fresh sanctions

A Canadian mining company that is among Cuba’s largest foreign investors is consulting with advisers and stakeholders after President Donald Trump expanded US sanctions against the struggling... 

South African farms face El Niño drought risk on top of Iran war

South African farmers pinched by mounting costs from the Iran war now face the added risk of an El Niño-induced drought, with implications for lower agricultural output and higher food prices.... 

Japan’s Sumitomo to divest stake in Madagascar nickel project

Sumitomo Corp plans to sell its majority stake in the Ambatovy nickel project in Madagascar following a review of market conditions. The Japanese trading house said it will divest its 54% interest... 

KoBold starts work on Zambian copper mine

KoBold Metals, the exploration company backed by billionaires including Bill Gates and Sam Altman, officially broke ground on what will be Zambia’s biggest copper mine as the global hunt for... 

South Africa law firms ask court to quash industry equity code

Some of South Africa’s biggest law firms have asked a court to set aside the nation’s policy governing Black ownership and representation in the profession, saying that its “unlawful” and... 

China's scant winds allow fossil fuel power to make a comeback

Fossil fuels staged a comeback in China’s power sector last quarter, as weather variations and grid constraints slowed the growth of clean energy. Thermal power output rose 3.7% over the first... 

World Bank teams up with Amazon for a $120m Spekboom bond

The World Bank has teamed up with Amazon on a bond whose proceeds will go toward rehabilitating ecosystems in South Africa’s Eastern Cape Province. The $120-million 14-year bond, which was sold to... 

War squeezes global mining as diesel and acid supplies tighten

From the Australian outback to Ethiopia and the Democratic Republic of Congo, the global mining industry is beginning to feel the effects of disruption caused by the war in Iran. War-driven... 

World’s biggest lithium mine gets downgrade on ‘systemic issues'

Shares in Australian miner IGO tumbled as much as 14% after the company delivered a major downgrade to production guidance for Greenbushes, the world’s biggest hard-rock lithium mine. The company... 

Anglo advances coal business sale after setback with Peabody

Anglo American has at least three potential buyers for its Australian steelmaking coal business after a sale to Peabody Energy Corp was derailed last year following a fire at one of the mines.... 

China revives coal-to-gas projects as energy security frays

A high-profile Chinese coal-to-gas venture that lay dormant for over a decade is set to launch this year, as part of a wave of investments that will allow Beijing to mitigate threats to fuel supply... 

BHP begins review to rank unprofitable Australian coal mines

Australia-headquartered BHP Group and Mitsubishi Development have launched a review process to rank the financial health of their coal mines and assets in Queensland after raising concerns about... 

South Africa steel needs demand not belligerence, regulator says

The key to rescuing South Africa’s ailing steel industry, in which a unit of ArcelorMittal South Africa (AMSA) is feuding with smaller competitors, is by growing demand rather than fixating on... 

Kganyago says war inflation risks are playing out

Reserve Bank Governor Lesetja Kganyago said the Iran war’s impact on oil prices has validated wariness over inflation, without giving a clear signal on what that means for interest rates. “You are... 

LME at record high on aluminum 'black hole' fear

Industrial metals have jumped to a record high on the London Metal Exchange (LME), driven gains in aluminum after the Middle East war disrupted supplies, as well as a recent revival in copper. The... 

Kganyago cites Zulu War to signal preemptive inflation move

South Africa’s central bank governor referenced an 1879 battle in the Anglo-Zulu war in his views on how to tackle the coming wave on inflation from the Iran war shocks, implying a preference to... 

Musk row shows gap with Ramaphosa in South Africa equity rules

President Cyril Ramaphosa said billionaire Elon Musk could use equity-equivalence programmes to meet South Africa’s racial-equity rules and roll out his Starlink internet service locally, pointing... 

Billionaire Gina Rinehart partly loses iron-ore legal battle

Hancock Prospecting, the private company of billionaire Gina Rinehart, has partly lost a decade-long legal battle with Wright Prospecting over royalties, but will retain ownership of a major... 

Vivo Energy converting Durban refinery into fuel storage hub

Vitol Group’s Vivo Energy is building fuel tanks at a former Durban refinery site to become a leading South African storage hub, buffering the import-dependent nation from oil market shocks.... 

Adnoc in advanced talks to buy Shell’s South Africa petrol stations

Shell is in advanced talks with Abu Dhabi National Oil Co (Adnoc) to sell its retail fuel stations in South Africa, according to people with knowledge of the matter. Adnoc emerged as the preferred... 

Asian LNG imports plummet to six-year low on Middle East crisis

Asian liquefied natural gas imports have dropped to the lowest in almost six years as the conflict in the Middle East chokes supplies and forces buyers to curb consumption. The 30-day moving... 

EU, US considering critical minerals deal to combat Chinese control

The European Union and US are nearing an agreement to coordinate on producing and securing critical minerals, as part of a push to break reliance on Chinese supplies. The potential deal would... 

Iron-ore slides after incoming BHP chief sighted in Beijing

Iron-ore slid to its lowest in a month after a report that BHP Group’s incoming CEO had met with Chinese executives in Beijing this week, a possible sign that frosty relations between the mining... 

Barrick willing to shuffle assets as it eyes North American spinoff

Global miner Barrick Mining Corporation plans to reduce its exposure to higher-risk jurisdictions and signaled openness to top-tier acquisitions, as it prepares to spin off its prized North... 

South Africa accredits new US envoy amid tensions with Trump

South African President Cyril Ramaphosa accepted new US Ambassador Leo Brent Bozell’s credentials, a month after the diplomat was issued with a formal reprimand for criticising the government and... 

Goldman warns on copper as Iran war threatens global economy

Copper is vulnerable to further declines if the Strait of Hormuz remains blocked, Goldman Sachs Group warned as metals markets brace for President Donald Trump's deadline for Iran to agree a deal... 

Iran amplifies LNG shortage by blocking passages through Hormuz

Iran has yet to allow a single carrier loaded with liquefied natural gas (LNG) to pass through the Strait of Hormuz in weeks of war, according to traders involved in the transit, a ban that risks...