VW, Gotion eye $3.7bn battery investment in Europe, Africa

Volkswagen and Gotion High-Tech Co plan to invest €3.22-billion ($3.7-billion) in battery facilities in Europe and North Africa as they push to set up an electric vehicle supply chain outside... 

South Africa defers Paris Club bid, turns to borrowers’ platform

South Africa told the Paris Club that it won’t seek full membership of the group of mostly rich-nation creditors, as it focuses on its involvement in a UN-backed coalition of borrower countries... 

India burns through coal stockpiles in rush to ease power gap

India’s power plants are rapidly exhausting coal inventories as generators ramp up production to offset weak hydro and the evening drop-off in solar output, prompting the government to invoke an... 

South Africa, Zimbabwe in talks over $500m dam project

South Africa and Zimbabwe are discussing a $500-million dam project to supply water to an industrial hub near their border, according to documents seen by Bloomberg. The proposed Thuli Moswa dam,... 

World’s top coal exporter strains to lift output as prices soar

Indonesia, the world’s biggest coal exporter, is failing to tap into soaring prices for the fuel as countries look to offset reduced natural gas supplies from the Persian Gulf. At a conference on... 

China’s coking coal supply squeeze seen lingering into 2027

China’s coking coal squeeze is set to persist into next year, supporting strong import demand even as efforts to revive domestic output start to cool prices. The supply shock triggered by the... 

Indonesia nickel hub to cut production on El Niño-driven drought

Smelters at a major Indonesian nickel-processing hub will be forced to cut output as an El Niño-driven drought reduces the supply of water used to cool and protect equipment, according to people... 

Mining titans hire Rothschild to advise on South Africa F1 deal

A South African consortium led by former Sibanye-Stillwater CEO Neal Froneman is working with Rothschild & Co on a bid to bring Formula One racing back to the African continent. Froneman, mining... 

Key African central banks set to keep high rates as buffer against shocks

African central banks from South Africa to Egypt are poised to keep their interest rates high for longer, seeking to shield their economies from shocks such as surging energy prices caused by the... 

Australian coking coal miner gets private loan from RRJ Capital

Australian coking coal miner Tahmoor Coal has secured a $140-million private-credit loan from RRJ Capital to restart its operations. The five-year senior secured facility has been signed but not... 

Big iron-ore miners deplete reserves faster than they replace

The world’s biggest iron-ore producers are depleting ore reserves faster than they can replenish them, as the cost and complexity of developing replacements continues to rise, according to Wood... 

South Africa is sleepwalking toward a gas crisis, businesses warn

South Africa’s government has resolved the country’s recurring power outages and is racing to fix its crumbling water infrastructure. But, business leaders warn, it’s sleepwalking into another... 

Hong Kong sets out global gold hub as driver for commodities, yuan

Hong Kong’s plan to build a global gold hub will provide “an entry point” for trading other commodities and expanding the yuan’s usage on world markets, according to its first-ever five year plan.... 

US miner signs Rwanda tungsten deal to grow western supply

An American miner is partnering with Rwanda’s government to source and process tungsten from the African nation, extending a push to build a Western-aligned supply chain for the strategic metal... 

BRICS finance chiefs call for urgent IMF, World Bank reform

BRICS finance chiefs and central bank governors on Friday reiterated calls for urgent reform of the International Monetary Fund and World Bank to give emerging and developing economies a greater... 

South Africa urged to lock in reforms before Ramaphosa leaves

South Africa must enshrine its reform process in law to guarantee the momentum gained under President Cyril Ramaphosa endures after he leaves office, said the head of a key business lobby group.... 

South Africa’s 3% inflation goal is robust, Central Bank study shows

South Africa’s 3% inflation target can withstand a range of economic shocks as expectations have become better anchored and more forward-looking, the central bank said in a new study. In the... 

Indonesian tycoon Haji Isam lobs low-ball bid for coal miner Bayan

Coal miner Bayan Resources has received a bid from Indonesian tycoon Andi Syamsuddin Arsyad that values the coal miner at a fraction of its market value, according to people familiar with the... 

Albemarle Chile workers to vote on deal to avert lithium strike

Top lithium supplier Albemarle Corporation reached a preliminary wage agreement with union leaders in Chile on the final day of mediated talks before a strike was due to begin, the union said. The... 

South African sugar mills battle for survival over State indecision

The Melville Sugar Mill in South Africa’s KwaZulu-Natal province is a sign of what used to be and what the future might hold. Trees have grown through the two brick chimneys of the mill, which... 

Ivanhoe talking to big tech as congo copper project expands

Mining tycoon Robert Friedland said he’s fielding “unconventional interest,” including from US Big Tech, in Ivanhoe Mines’ fast-expanding copper exploration project in the Democratic Republic of... 

South Africa’s quarterly farm exports surge, US shipments rise

South African agricultural exports rose 10% in the second quarter from the same period a year ago, buoyed by higher volumes and better prices. The total shipments of $4.1-billion was a record for... 

World's biggest money managers are rebuilding gold positions

Some of the world’s biggest money managers have rebuilt their gold holdings after prices dropped, betting that long-term drivers of the precious metal will endure even as the US Federal Reserve... 

IDC to sell its stake in Namibian uranium mine

South Africa’s Industrial Development Corporation (IDC) plans to sell its stake in a Namibian uranium project because the mine’s backers include Iranian and Russian entities. The IDC owns about... 

South Africa may face class action over Sharpeville massacre

Survivors of one of the defining events of the anti-apartheid struggle, the 1960 Sharpeville Massacre, and their dependents have applied for permission to institute a class action against South... 

Zambian State mine investor eyes $1.8bn in small-scale gold mining push

Zambia’s State-controlled mining investor expects to unlock more than $1.8-billion from the country’s small-scale gold industry by adopting Ghana’s model for formalizing the sector, its chief... 

Goldman sees room for South Africa asset rally on credit upgrade

Markets are not pricing in the probability of South Africa’s return to investment grade, leaving scope for government bonds, stocks and the rand to rally, according to Goldman Sachs Group Inc. The... 

Radiant World and its founder sued for $34m in Singapore

Radiant World Corp and its founder are being sued in Singapore’s High Court by a local trade-finance firm, which is registered as a creditor of Radiant World, adding to mounting legal pressure on... 

South Africa lays groundwork for debut sovereign green bond

South Africa is targeting a debut sovereign green bond as soon as this fiscal year to help raise the R3.7-trillion needed to mitigate the effect of greenhouse gas emissions over the next decade.... 

Anglo, Chinese entity in iron-ore deal

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... 

Mota-Engil said to win deal for US-backed Congo copper railway

Mota-Engil is set to sign a 30-year concession with the Democratic Republic of Congo to operate a key copper and cobalt railway, potentially backed with up to $1-billion of US financing. The deal... 

Owner of Indonesian coal mining giant Bayan Resources in talks over sale

The owner of Indonesia’s PT Bayan Resources is in talks to sell a majority stake in the $28-billion miner to a consortium led by a rival tycoon, in what could be one of the country’s biggest coal... 

Fortescue suspends executive over sexual harassment allegations

Australian miner Fortescue has suspended an executive over sexual harassment allegations, and engaged law firm MinterEllison to conduct an independent investigation into the matter. The incident... 

Tsingshan may triple output at its Zimbabwe steel plant

Tsingshan Holding Group is considering as much as tripling output at a Zimbabwe steel plant it started in 2024, an expansion that could add to pressure on South Africa’s struggling steel industry... 

Zijin says copper target under pressure after Congo mine flood

Zijin Mining Group said its full-year copper production target was under pressure due to flooding at a major Congolese mine, adding to global supply concerns as the metal trades near a record high.... 

Lithium miner PLS Group bullish on price outlook, eyes expansion

Australia’s biggest lithium producer PLS Group flagged a supply shortfall of the battery metal in the coming years and said it was nearing a final investment decision on expanding its capacity, as... 

Canada-focused lithium miner Elevra gets price floor for supply deal

North America-focused Elevra Lithium secured a price-floor structure in a deal to supply a new processing facility in Canada, as western countries seek to bolster their critical-mineral supply... 

Singapore authorities begin looking into trader Radiant World

Singapore’s police force has begun looking into Radiant World after receiving reports on the iron-ore trader, a spokesperson said on Thursday. A Radiant World spokesperson was not immediately... 

Gold miner Evolution open to more North America, Australia deals

Evolution Mining will consider acquisitions in Australia and North America and hasn’t ruled out buying assets from Northern Star Resources should they come to market. Evolution is looking at more... 

South Africa takes over regional economic bloc as trade falters

South Africa is taking over leadership of the Southern African Development Community with a push to deepen regional commerce, as the bloc’s own assessment shows it faces tepid economic growth,...