Anglo to meet top shareholders on BHP bid as takeover rules restrain AGM

Anglo American's chair will meet its top 30 shareholders to hear views on BHP's $39-billion bid for the miner, he told an annual general meeting on Tuesday, where he was restricted from discussing... 

US reforms environmental law to speed up clean energy, infrastructure approval

The White House on Tuesday reformed the US environmental review process for major projects which officials said would speed up approval of everything from transmission of power from wind and solar... 

As BHP weighs firm bid for Anglo, investors fret over cherry-picking assets

BHP Group can't cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, concerned that they stand to lose heavily by holding shares in South African... 

Tietto asks investors to accept Zhaojin's offer or sell shares

Australia's Tietto Minerals has urged its shareholders to accept Zhaojin Mining's offer that values the firm at A$733-million or sell shares on-market if the market price is not materially... 

Anglo under pressure to reveal plans to fend off BHP as Elliott hikes stake

Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off bidder BHP, as activist investor Elliott further raised the stakes by increasing... 

South Africa views BHP bid for Anglo as 'normal market activity'

South Africa views BHP Group's proposed bid for Anglo American as "normal market activity" and is following the process as it unfolds, President Cyril Ramaphosa's spokesperson said on Monday. BHP... 

Vale, BHP propose $25bn settlement for Mariana disaster reparations

Vale, BHP and their joint venture Samarco have presented Brazilian authorities with a settlement proposal related to reparations for the 2015 Mariana tailings dam burst, which killed 19 people and... 

BHP tells investors Anglo bid is 'on strategy', stresses discipline

BHP has told Australian investors privately that its $39-billion Anglo American bid is in line with its strategy and that it will be disciplined in its approach, two fund sources said. The world's... 

African leaders seek record World Bank financing to combat climate change

African leaders on Monday called for rich countries to commit record contributions to a low-interest World Bank facility for developing nations that they rely on to help fund their development and... 

Saudi Arabia set on securing lithium for EV ambitions

Saudi Arabia is committed to sourcing lithium from overseas as it looks to produce EV batteries and invest in the electric vehicle sector, a senior minister said in an interview, noting attempts to... 

Glencore bought aluminium from Rusal worth $1.06bn in 2023

Commodities group Glencore bought aluminium from Russian producer Rusal worth $1.06-billion in 2023 as part of their long-term contract, the Russian producer said in an annual report on Friday.... 

Codelco posts fresh output slump, underscoring copper struggles

Top copper producer Codelco saw a decline in quarterly output due to lower quality ore at its aging Chilean mines — the latest sign of supply-side struggles that have helped send metal prices to... 

'End of oil not in sight', OPEC secretary general says

The end of oil is not in sight, OPEC's top official said, as the pace of energy demand growth means that alternatives cannot replace it at the needed scale, and the focus should be on cutting... 

BHP considering improved proposal for Anglo American, sources say

BHP Group is considering making an improved offer for Anglo American after its $39-billion initial proposal was rejected by the London-listed miner, a source familiar with the matter told Reuters.... 

Copper hits $10 000/t as bulls predict looming deficit

Copper hit $10 000 a ton for the first time in two years as speculation builds that the world’s mines will struggle to meet a coming wave of demand from green industries. The metal reclaimed its... 

Activist investor Elliott builds $1bn stake in Anglo American

Activist fund Elliott has built up a $1-billion stake in Anglo American, a filing showed on Friday, after the London-listed miner became a takeover target by bigger rival BHP Group. Elliott... 

China's Q1 gold consumption climbs nearly 6% on safe-haven demand

hina's gold consumption in the first quarter of 2024 climbed by 5.94% from a year earlier on soaring safe-haven demand, the country's Gold Association said on Friday. Bullion consumption in the... 

Glencore seeks investment opportunities in Nigerian mining sector

ining and trading house Glencore will invest in Nigeria's mining sector if the government ensures a stable business climate, the company's CEO said on Thursday during a visit to Nigeria's minister... 

COP29 climate summit host Azerbaijan defends oil and gas investments

Azerbaijan, host of this year's UN climate summit, will defend the right of oil and gas producing nations to invest in the sector, the country's president said on Friday, noting that despite... 

FACTBOX: Top deals in the global mining sector

On Thursday, BHP Group bid $38.8-billion for smaller rival Anglo American, offering a deal to forge the world's biggest copper miner. Here is a list of some previous big-ticket deals in the mining... 

SQM partner Tianqi Lithium requests shareholders vote on Codelco tie-up

China's Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company SQM, in which it is a major shareholder, and state-run copper miner Codelco... 

BHP shares drop on value concerns after $39bn bid for Anglo American

BHP Group shares fell 4% on Friday a day after revealing a $38.8-billion bid for Anglo American as investors feared a deal could erode BHP's profitability especially if it has to sweeten its... 

Anglo American does not find BHP $39bn offer attractive

Anglo American's management does not consider a proposed $39-billion takeover offer from BHP Group as attractive, two sources told Reuters, as some investors and analysts dismissed it as... 

Zhaojin Mining ups stake in takeover target Tietto Minerals

China's Zhaojin Mining Industry has increased its voting power in Tietto Minerals, an exchange filing from the Australian gold miner showed on Friday. Zhaojin Capital, a unit of Zhaojin Mining,... 

Vale sees no impact from BHP-Anglo American deal on Minas-Rio project

Brazilian miner Vale sees no impact from BHP Group's bid for Anglo American on the latter's Minas-Rio project, its CEO, Eduardo Bartolomeu, said on Thursday. "We don't see any impact on the... 

Vedanta misses Q4 profit estimates on lower prices

ndian mining group Vedanta reported a 27% drop in fourth-quarter profit on Thursday, reflecting weaker prices of major metals like aluminium and zinc amid ballooning finance costs. The... 

Anglo shareholder LGIM says BHP approach 'unattractive'

Legal & General Investment Management, one of the 20 largest shareholders in Anglo American said an approach by BHP Group is "highly opportunistic" and "unattractive". "As with many other... 

Newmont's asset sale attracts strong interest, tops profit estimates

Newmont beat Wall Street estimates for first-quarter profit on Thursday, as the world's largest gold miner benefited from robust production, higher prices and lower operating expenses. Shares rose... 

Biden administration aims to clean up power sector with revamped rules

The Biden administration on Thursday announced it has finalised rules targeting carbon, air and water pollution from power plants that it says could cut over one-billion metric tons from carbon... 

Vale expects to reach final agreement for Mariana dam reparations in first half of year

Mining company Vale expects to reach a final agreement with authorities for reparations for the collapse of the Samarco tailings dam by the end of the first half of this year, the company told... 

Namibia's Kudu gas-to-power project faces further delays, sources say

BW Energy has postponed the final investment decision (FID) on its long-delayed Kudu gas-to-power project in Namibia to 2025, two company sources said on Thursday. "It is true, we have delayed... 

Tumble in storage battery costs to boost shift to renewables, says IEA

An expected sharp fall in battery costs for energy storage in coming years will accelerate the shift to renewable energy from fossil fuels, the International Energy Agency (IEA) said on Thursday.... 

South Africa makes second WTO complaint over EU citrus rules

South Africa has lodged a complaint against the European Union's (EU's) citrus black spot (CBS) regulations, the World Trade Organisation (WTO) said on Wednesday. The EU is a major market for South... 

Kazakh miner ERG denies circumventing Congo subcontracting laws

Kazakh miner Eurasian Resources Group (ERG) has denied accusations it tried to bypass Democratic Republic of Congo's subcontracting laws designed to boost local ownership in the mining sector, job... 

Lower iron, nickel and copper prices weigh on Vale's quarterly earnings

Brazilian miner Vale on Wednesday said lower prices for iron-ore, nickel and copper in the first quarter dragged down earnings compared to the year before, as it posted net profit slightly below... 

First Quantum says probability of taking out copper from Panama mine only after election

Canadian miner First Quantum Minerals said on Wednesday the likelihood of taking out the 121 000 t of copper from its disputed Cobre Panama mine can only happen after the Panama national election.... 

China coal prices have bottomed, will surpass 2023 highs, industry group says

China's domestic coal prices have bottomed out and will exceed 2023 highs this year, a major coal industry group said on Wednesday. "Overall stockpiles are not very high, so if market purchases... 

Miner Freeport-McMoRan beats quarterly profit estimates on strong production

Copper miner Freeport-McMoRan beat Wall Street estimates for first-quarter profit on Tuesday, helped by higher production and easing costs. The mining giant said its quarterly production of copper... 

Codelco chairman says SQM lithium deal set to give 85% of benefits to state

Chile's government is expected to receive 85% of "associated benefits" including taxes and lease payments from a planned partnership between state-run copper miner Codelco and lithium company SQM... 

Woodside investors vote down climate plan, rebuking Australia's top gas producer

Shareholders rejected Woodside Energy's climate plan on Wednesday, marking a symbolic victory for activists who have called for Australia's biggest gas producer to stop new fossil fuel projects,...