South Africa books ‘big wins’ on lower inflation, Kganyago says

South African central bank Governor Lesetja Kganyago said lower inflation has delivered “big wins” by reducing government borrowing costs, vindicating his decision to anchor the rate at the bottom... 

Zambia’s record copper mining output meets a red-hot market

Zambia is poised for record copper production this year, bolstering its standing as a key global supplier just as prices surge and demand is set to grow. A wave of accidents and disruptions at... 

Lithium Americas analysts sour as US stake sparks 175% rally

It’s almost old hat to the market by now. Take a struggling company, cut a deal with the US government, sealed with the approval of President Donald Trump, sit back and watch the stock take off.... 

Eskom’s biggest union demands 15% increase ahead of wage talks

The biggest union at South Africa’s Eskom is demanding a wage increase of as much as 15% ahead of negotiations that are set to begin. The National Union of Mineworkers, representing about 15 000... 

Botswana says pulled diamond sale wasn’t an ‘emergency’ auction

Botswana said an unprecedented ad-hoc diamond auction late last month — in which it didn’t sell any gems because the reserve price wasn’t met — wasn’t an “emergency sale.” State trader Okavango... 

Trump approves road project in Alaska, stake in Trilogy Metals

President Donald Trump reversed a Biden administration decision blocking the construction of the Ambler Road project in Alaska, in a move he said would open up critical energy and mining projects.... 

Africa must quell its reliance on outside money, Godongwana says

Africa faces a “distressing decline” in foreign health aid and should raise more money domestically, including via taxes on tobacco and alcohol, said South African Finance Minister Enoch... 

Peru’s large miners fear their exploration rights are at risk

Peru’s large miners are getting increasingly worried lawmakers may tamper with rules around mineral rights as congress prepares to discuss a proposed law favouring small-scale operators. Peru, the... 

Congo court ruling risks snarling Trump’s critical mineral goals

A Congolese firm under US sanctions won a court ruling that may aid its claim to a prized tantalum deposit, potentially complicating Washington’s efforts to shore up supplies of critical minerals.... 

Fiscal rule to help steady South African debt, Central Bank says

South Africa risks a debt trap after years of lax budget discipline, but following through with plans for a fiscal rule to control borrowing will put it back on track, the central bank said. The... 

South Africa, Nigeria poised to exit dirty-money list next month

South Africa and Nigeria are poised to exit a global financial watchdog’s “gray list” as soon as next month, marking a change in fortune for two of the continent’s biggest economies. The two... 

Glencore investors question strategy as copper bonanza eludes miner

Institutional investors in Glencore have grown increasingly frustrated with the commodity giant’s underperformance, with several large shareholders privately voicing their disappointment and... 

ArcelorMittal may get R8.5bn IDC bid for South Africa unit

South Africa’s top development finance institution is working with financial advisers on a possible bid of about R8.5-billion for control of ArcelorMittal’s business in the country, people familiar... 

Diamond sale fails in Botswana as buyers refuse to pay up

Botswana didn’t sell any diamonds in an unprecedented ad-hoc auction as buyers refused to pay high enough prices, as the global industry continues to grapple with one of its deepest-ever crises.... 

Botswana wants to buy De Beers controlling stake by next month, President says

Botswana’s president aims to complete a deal to take a majority stake in De Beers by the end of next month, even as his administration and other potential buyers continue negotiations with the... 

US re-evaluating $2.3bn loan for Nevada lithium mine

The Trump administration is re-evaluating a $2.3-billion loan approved by President Joe Biden for the development of a Nevada lithium deposit, according to people familiar with the matter who asked... 

Ramaphosa tries to defuse backlash after praising rival party

South African President Cyril Ramaphosa moved to defuse tensions sparked by his warning that the African National Congress (ANC) risks losing voter support unless it learns from a key political... 

Mali appeals judge’s order to release detained Barrick staff

Malian prosecutors have appealed a judge’s order to release four Barrick Mining Corp.’s employees on bail, according to people familiar with the matter. Barrick staff, including a regional manager... 

Trump’s trade envoy to meet with Parks Tau

US Trade Representative Jamieson Greer and Minister of Trade, Industry and Competition Parks Tau are expected to meet on Thursday in a bid to resolve an impasse over tariffs, people with knowledge... 

Glencore to meet with Ramokgopa in bid to save smelters

Glencore will meet with the South African government this week to seek ways to prevent smelters that make a key stainless steel ingredient from shedding thousands of jobs as they grapple with... 

US in talks to set up $5bn fund for critical mineral deals

The US is in talks to set up a $5-billion fund to invest in mining, in what would be the government’s most significant foray into dealmaking to boost supplies of critical minerals. The US... 

Shell’s fight with South African activists moves into last round

South Africa’s top court will start hearing arguments on Tuesday in a legal battle that has pitted environmental activists against one of the world’s biggest energy companies — and which may... 

Reserve Bank’s new inflation goal faces a key test

The South African Reserve Bank’s new goal of anchoring inflation at 3% faces a big test this week, with two key data points and its first policy meeting since announcing the move. A closely watched... 

A $3bn plan to bring water to Johannesburg hits opposition

A long-delayed R53-billion project that South Africa’s commercial hub is banking on to end a growing water crisis has hit fresh opposition. Communities comprising 1 600 people have filed a formal... 

Anglo American-Teck deal hinges on troubled Chile copper mine

At the heart of one of the mining industry’s most ambitious combinations is a plan to fix a problematic Teck Resources copper mine high in Chile’s Atacama desert, and ultimately to integrate it... 

Nersa apologises for R54bn tariff error

South Africa’s energy regulator apologised for a R54-billion error in calculating electricity tariffs, a mistake that will be passed on to consumers. The National Energy Regulator of South Africa,... 

IFC seeks $300m to fund electricity mini-grids in Africa

The International Finance Corporation (IFC) is setting up an entity aimed at lowering the cost of mini grids in Africa, to accelerate plans to connect 300-million Africans to electricity by 2030.... 

ArcelorMittal South Africa must be nationalised, Saftu says

South Africa’s government must “re-nationalise” ArcelorMittal South Africa to avert job losses and rebuild the country’s beleaguered manufacturing industry, according to a leader of a body that... 

Trump exempts gold, tungsten and uranium from global tariffs

President Donald Trump moved Friday to exempt graphite, tungsten, uranium, gold bullion and other metals from his country-based tariffs, while subjecting silicone products to the levies. The... 

Xi and Putin to take part in Brics Trade Summit without Modi

China has confirmed that President Xi Jinping will take part in a virtual Brics summit convened by Brazil to discuss Donald Trump’s trade policy. India’s Prime Minister Narendra Modi will skip the... 

Sars deputy commissioner tipped as new head

South Africa’s finance minister favours Johnstone Makhubu to take over as commissioner of the nation’s tax agency, according to a person familiar with the matter. The support makes Makhubu a strong... 

Zijin Gold said to plan $3bn HK IPO in world’s biggest listing since CATL

China’s Zijin Mining Group is planning to take its international gold-mining unit public in Hong Kong in an initial public offering that may fetch more than $3-billion, according to people familiar... 

Goldman Sachs says gold could surge if Fed’s credibility damaged

Gold could rally to almost $5 000/oz if the Federal Reserve’s credibility were damaged and investors shifted just a small portion of holdings from Treasuries into bullion, Goldman Sachs Group Inc.... 

AMSA takeover talks stall over valuation

ArcelorMittal's talks to sell its local unit to South Africa’s State-owned Industrial Development Corporation (IDC) are being held up by differences over the entity’s valuation, according to people... 

Peabody expects big jump in US coal demand in Trump era

Swelling US demand for electricity has the potential to boost coal consumption as much as 57%, according to mining giant Peabody Energy, in what would be a major shift for an industry that’s been... 

Australia backs coal mine extension, stoking climate backlash

The Australian government approved an extension to a Glencore thermal coal mine, sparking renewed concerns from environmental groups about the country’s efforts to tackle climate change.... 

ANC to discuss broader Central Bank role - Report

South Africa’s biggest political party, the African National Congress, will revive a debate about expanding the central bank’s mandate at a key meeting later this year, Business Day reported,... 

Lab-grown gems are robbing Botswana of its diamond riches

Across Botswana the lines of patients outside government clinics are lengthening, construction companies dependent on state jobs are firing workers and university students are threatening to... 

Tariffs turn aluminium maker Rio Tinto into buyer in US market

Rio Tinto, one of the world’s largest aluminum producers, runs a refinery and five smelters in Canada’s Quebec province, with most of the metal flowing south to the US market. Now, with President... 

Top gold miner Newmont plans job cuts in sweeping cost drive

Newmont, the world’s largest gold miner, is studying plans to drive down costs that could lead to deep job cuts, following its $15-billion acquisition of Newcrest Mining in 2023. The company’s...