Sherritt warns of going-concern risk after Trump expands Cuba sanctions

A Canadian miner that is one of Cuba’s biggest foreign investors warned investors that its ability to carry on as a going concern is in doubt after Donald Trump expanded US sanctions on the... 

Johannesburg collapse risk spurs call for State to run city

South Africa’s government may soon need to make the politically fraught decision to take control of Johannesburg to avert the city’s financial collapse, according to a consultant appointed by two... 

Major Indonesian nickel smelter enters court-ordered debt halt

One of Indonesia’s largest nickel smelters has been placed under a temporary debt suspension by a local court, as the Southeast Asian nation’s industry grapples with ore shortages and low metal... 

Ramaphosa taps former Treasury Budget Chief as economic adviser

President Cyril Ramaphosa appointed former National Treasury budget chief Michael Sachs as his economic adviser, bringing a respected fiscal policy technocrat back into the government as the... 

Police deployed as anti-migrant deadline looms

South Africa will deploy more police this week to deter possible violence before a June 30 deadline set by xenophobic protest groups for foreigners to leave the country. “There has been... 

China places two US rare earths producers on export control list

China has imposed export controls on two US rare earth producers that are part of Washington’s effort to establish alternative supply chains for minerals critical to advanced manufacturing and... 

Vale board resists shareholder Previ’s bid to oust chairperson

Boardmembers of Vale, the world’s top iron-ore producer, voted against a proposal by one of the company’s largest shareholders to remove Daniel André Stieler as chairperson, according to people... 

Dean Macpherson urges police to find xenophobic agitators

Public works and infrastructure minister Dean Macpherson called on law enforcement agencies to act against those responsible for violence against migrants, warning that the attacks are tarnishing... 

Ghana is weighing local control of Gold Fields’ biggest mine

Ghana is considering transferring control of Gold Fields’s Tarkwa mine to local firms when its leases expire next April, part of a push to increase control of its gold industry and capture more of... 

Floods inflict record R9bn damage on Cape

Recent flooding in South Africa’s Western Cape province, which includes the tourist hub of Cape Town, caused more than R9-billion of damage, a total that’s expected to rise once final assessments... 

Rio Tinto resumes copper exports from massive Mongolian mine

Rio Tinto Group has resumed exports of copper concentrate from its vast Oyu Tolgoi copper mine in Mongolia following a short protest. The protesters began a blockade of a key road on Wednesday... 

Zimbabwe licenses second gold refinery to handle rising output

Zimbabwe has licensed a second gold refinery to handle purchases and processing of the southern African nation’s increasing output of the precious metal. The refinery, to be located in the... 

BRICS Bank lends South Africa $1bn for cities, report says

New Development Bank is lending South Africa $1-billion for the State to upgrade infrastructure in its eight biggest cities, Business Day reported. The so-called metropolitan municipalities will... 

Lobito railway receives first Congo shipment after flood repairs

Lobito Atlantic Railway (LAR) received its first copper shipment from the Democratic Republic of Congo (DRC) since reopening a flood-damaged section of the corridor, restoring traffic on a key... 

Traders cut South Africa rate-hike bets after Iran peace deal

Traders have scaled back bets on additional South African interest-rate hikes after a US-Iran peace deal sent oil prices tumbling, potentially reducing inflationary pressures. Forward-rate... 

South African firms face pressure due to anti-immigrant protests

South African companies with operations across Africa are facing mounting pressure as anti-immigrant protests in the continent’s largest economy trigger diplomatic tensions and calls for action... 

Treasury says upgrades show path to investment grade

South Africa’s recent credit-rating upgrades are a strong endorsement of government policy and show the nation can restore its coveted investment-grade status if it stays on track, said the... 

Chinese region promotes coal chemicals as energy security fix

One of China’s top coal-producing regions plans to expand use of the feedstock to manufacture chemicals, even as the practice poses a rising threat to the country’s climate goals. The Iran War has... 

South Africa set to run coal stations longer as gas projects lag

South Africa is poised to delay the retirement of about a fifth of its coal-fired electricity-generation capacity as gas projects earmarked to replace them remain behind schedule, contrasting a... 

South Africa posts largest current-account surplus since 2022

South Africa posted its largest current-account surplus in four years in the first quarter as the value of gold exports surged and imports dropped. The balance on the current account — the broadest... 

Gold major Northern Star rejects new investor proposal to sell the company

Australia’s biggest gold miner Northern Star Resources has rejected a proposal by activist investor Elliott Investment Management to sell off some of its smaller assets or seek to sell itself to a... 

IMF MD Georgieva warns world isn’t ready for shocks that are piling up

International Monetary Fund (IMF) MD Kristalina Georgieva said that after facing crisis upon crisis in recent years, the world needs to build foundations that can withstand shocks that have become... 

Ramaphosa to address nation on migration action plan

President Cyril Ramaphosa will address the nation on the country’s approach to managing migration, according to Minister in the Presidency Khumbudzo Ntshavheni. The cabinet received and approved a... 

Shipping’s ‘biggest geek’ charts 65 000 km Africa road trip

At nearly 40 years old, Lars Jensen’s Volkswagen camper van appeals to him mostly for its lack of modern features. The vehicle he calls “Sally” is just the right rig to drive around Africa over the... 

China picks State firm to help coordinate mining deals abroad

China has chosen a new State investment company to help coordinate its overseas metals and mining deals, and counter mounting geopolitical risks that threaten its ability to secure resources,... 

Guinea’s Simandou iron exports surge six months after first ore

Exports from Guinea’s Simandou iron-ore project surged in May, six months after the first shipment to China, marking a milestone in the ramp-up of the high-grade mine that has the potential to... 

China’s State buyer seeks scrutiny of new Fortescue iron-ore

China’s State-backed iron-ore buyer has instructed some steel mills to ask questions about Fortescue's new low-grade product as negotiations over a long-term supply contract hit a rough patch.... 

Indonesia advances export control plan despite uncertainty

Indonesia is pushing ahead with plans to centralize exports of key commodities starting June 1, casting a cloud of regulatory uncertainty over natural resource producers. Coal, palm oil and ferro... 

Iron-ore heads for monthly loss as coal spike pressures margins

Iron-ore headed for a monthly loss as a short-lived rally triggered by a fatal steelmaking-coal mine accident in China’s Shanxi province faded, leaving investors focused on mill margins and... 

South Africa set to run coal stations longer as gas projects lag

South Africa is poised to delay the retirement of about a fifth of its coal-fired electricity-generation capacity as gas projects earmarked to replace them remain behind schedule, contrasting a... 

Chinese coal disaster to ripple through steel, power, chemicals

The Shanxi coal disaster is likely to hit Chinese output in the short term, raising costs for steelmakers, power plants and chemicals manufacturers. The explosion at a coking coal mine that killed... 

South Africa poised for first rate hike since 2023 on Iran war

South Africa’s central bank is set to raise borrowing costs for the first time in three years as policymakers seek to combat inflationary pressures stemming from the Iran war, including sharply... 

Codelco, SQM budget $3bn for lithium project in Chile

Chilean mining companies Codelco and SQM are budgeting $3-billion to deploy new extraction technologies at their lithium joint venture in the Atacama Desert. The companies' Novandino Litio... 

SQM boosts lithium guidance as earnings top estimates

Chilean copper miner SQM reported a sharp increase in first-quarter profit and raised its lithium sales forecast, betting that robust demand from battery storage systems will keep the market... 

China’s Jinchuan says $145m missing in Congo mine probe

Jinchuan Group International Resources Co said an independent probe found that nearly $145-million was siphoned from its copper and cobalt operations in the Democratic Republic of Congo through... 

BHP reportedly cuts green push in iron-ore segment, media report says

BHP Group is allegedly pulling back on key decarbonization projects in its Western Australian iron-ore operations, slowing a climate strategy the miner had once positioned as central to its... 

Egypt eyes first aerial survey in 40 years to map mineral riches

Egypt will carry out its first comprehensive aerial mining survey in more than four decades, part of efforts to unlock mineral discoveries and attract foreign investment. Xcalibur Smart Mapping... 

Secretive deals, aggressive demands are new US foreign aid tactics

On a Friday last November, government officials representing Lesotho, a mountainous enclave in eastern South Africa, sat down in the capital Maseru for three hours of negotiations with Trump... 

Chalco agrees to build alumina plant in Guinea for $1bn

Aluminum Corp of China, the country’s largest State-owned producer of the lightweight metal, has agreed to invest $1-billion in an alumina plant in Guinea to tap local bauxite resources. Chalco, as... 

EU’s top copper miner KGHM eyes takeovers as global energy shift spurs demand for red metal

KGHM Polska Miedz SA, the EU’s largest copper producer, plans to expand its footprint abroad as the global shift to cleaner technologies fuels appetite for the red metal. Poland-based KGHM wants...