India coal miner plans $720m sale of renewables unit

State-run coal miner and power producer NLC India is planning to sell renewable assets worth an estimated 60-billion rupees ($720-million). The company will put nearly 1.4 GW of mostly solar... 

South Africa coal-plant closure delays risk thousands of deaths

Delays to the planned closures of coal-fired power plants proposed by South Africa’s energy department could result in thousands of deaths from air pollution and lead to billions of dollars of... 

Gold hits record as silver surges on outlook for Fed rate cuts

Gold held near a fresh record and silver hit a two-year high as two Federal Reserve officials said they still expect the US central bank to cut rates three times in 2024, buoying the outlook for... 

Deutsche Bank says Glencore may consider switching listing to US

Glencore may consider switching its primary listing from London to New York, analysts at Deutsche Bank predicted, in what would be one of the most high-profile exits from the UK exchange to date.... 

Copper rises on nascent optimism over outlook for China economy

Copper advanced to the highest level in more than a week as investors weighed upbeat factory data from top consumer China and the potential for output cuts by the country’s leading smelters.... 

Iron-ore’s reset lower to $100 heralds China’s new economy shift

Iron-ore’s reset to around $100 a ton is indicative of a broader reshaping of China’s commodities markets that favors the new economy over the old. The steelmaking material plunged to $95.40 a ton... 

Chile wants to double its lithium output to avert risk of substitution in batteries

For a global lithium industry still reeling from gluts along the battery supply chain, the greater long-term risk is producing too little of the metal rather than too much, according to the world’s... 

Chile sees Codelco revival after years of copper output declines

Codelco is turning the corner after a production slump and project overruns eroded the state-owned copper behemoth’s finances, according to a top Chilean government official. “In 2024, the... 

Top China lithium firms look past profit slump and vow expansion

Undeterred by slumping profits, China’s lithium giants are planning to grab a bigger slice of the market. Tianqi Lithium and Ganfeng Lithium Group reported sharp drops in 2023 net income last week... 

Gold hits record on Fed cut outlook and geopolitical tension

Gold rose to a record as the second quarter kicked off, extending a rally that’s been driven the Federal Reserve edging closer to rate cuts and deepening geopolitical tensions. Bullion jumped as... 

Bridge disaster leaves some US coal miners with few options

The catastrophic shipping accident that’s choked off Baltimore harbor is leaving few options for some US coal exporters, with Consol Energy facing the biggest threat to its operations. “Consol has... 

Africa’s biggest freight rail market set for private operator participation

Africa’s biggest freight rail market is on the cusp of being transformed by private operators, the head of the operator of the continent’s largest rolling-stock fleet said. The South African... 

MinRes to sell online in transparency push

Australian miner Mineral Resources will use a digital trading platform to sell parcels of spodumene concentrate, a lithium-bearing mineral, in an effort to bring transparency to the market. Joshua... 

South Africa has many of world’s worst air pollution sites, study says

South Africa is home to many of the world’s worst emission sites for toxic nitrogen dioxide and sulfur dioxide and most of those are operated by the nation’s state power utility, according to... 

Rivers near Congo copper and cobalt mines are toxic, report says

River water near some of Democratic Republic of Congo’s biggest copper and cobalt mines is toxic and may be causing widespread health problems. Scientists from Congo’s University of Lubumbashi... 

World’s top aluminum producer sees raw material supply risk in Guinea

Aluminum Corp of China said it sees “relatively high” risks to supplies of bauxite from Guinea, highlighting its growing dependence on a single country for the raw material. The West African nation... 

Jiangxi Copper sees higher prices as it plans to raise output

Jiangxi Copper, China’s largest producer, said it expects prices to rise in the second half once the Federal Reserve cuts interest rates, while pledging to maintain double-digit growth in output... 

Kazakhstan seeks to boost uranium exports to US

Kazakhstan, the world’s largest uranium miner, is conducting “active work” to boost exports of the metal to US energy companies. The country’s energy ministry said cooperation in the energy sector... 

Baltimore bridge collapse will likely block coal exports for weeks

The collapse of a major Baltimore bridge is likely to shut down coal exports for as many as six weeks and block the transport of up to 2.5-million tons of coal, said Ernie Thrasher, CEO of Xcoal... 

Gold holds near record high ahead of US inflation data release

Gold held Monday’s gain as investors remained cautious ahead of key US inflation data, which may provide traders with a firmer view on when the Federal Reserve will start cutting interest rates.... 

Goldman says commodities to benefit as central banks cut rates

Commodities will advance this year as central banks in the US and Europe move to reduce interest rates, helping to support industrial and consumer demand, according to Goldman Sachs Group Inc. Raw... 

Top Australian gold miner seeks to expand Kalgoorlie ‘Super Pit’

Northern Star Resources is seeking to expand its flagship Fimiston gold mine in Western Australia and extend the life of the project to 2034. Kalgoorlie Consolidated Gold Mines, which is wholly... 

US announces $6bn to clean up heavy manufacturing

The first new US aluminum smelter in 45 years may be built as part of about $6-billion in grants the Biden administration is awarding to companies in a bid to clean-up hard to decarbonise... 

Major Chinese miner says US-led containment is risk to growth

Zijin Mining Group, one of China’s most acquisitive mining groups, warned that US-led efforts to tackle Beijing’s control of minerals could slow the company’s global expansion. “The development of... 

Zambia, Zimbabwe to retender $5bn Batoka hydropower plant

Zambia and Zimbabwe are retendering a $5-billion project to build a hydropower plant they previously awarded to General Electric Co. and Power Construction Corp. of China, and expect to select new... 

Uranium’s 22% price plunge is bottoming out on nuclear future

Uranium may have lost some sizzle after an electrifying 10-month rally, but analysts and investors aren’t losing faith in the long-term prospects of the nuclear fuel. After a 22% decline over six... 

Coal is preparing for a long goodbye

More than two years after climate negotiators first attempted to consign coal to history, the dirtiest fossil fuel is having a moment. Thanks to a combination of China’s energy insecurity —... 

Major investors more confident in Australia’s climate policy

Investors with a combined A$35-trillion in assets are becoming more optimistic about Australia’s climate policy, with roughly half considering financing renewable-energy projects, according to an... 

Biden set to award billions to decarbonise US heavy industries

The Biden administration is poised to award as much as $6.3-billion in dozens of grants to help hard-to-decarbonise industries cut emissions, according to people familiar with the matter. Details... 

Alleged $60m nickel fraudster can’t pay his legal bills

The businessman at the center of an alleged $600-million nickel fraud is struggling to pay £330 000 in legal fees, in a sign that his finances are under increasing strain. Prateek Gupta was last... 

Africa’s biggest exchange finally sees Its IPO crisis easing

Africa’s biggest bourse, the JSE, is slowly turning the tide from a wave of delistings to companies once again considering initial public offerings. Bankers cited potential interest rate cuts,... 

Top treasury official stresses US ambitions for Africa’s metals

US Deputy Treasury Secretary Wally Adeyemo used a five-day trip to South Africa to advertise his country’s ambitions of securing supplies of the metals needed for the global energy transition –... 

Implats’ Zimbabwe unit plans voluntary job cuts to contain costs

Impala Platinum Holdings’ Zimbabwean unit is offering staff voluntary redundancy packages to cut costs because of anemic metal prices. Weak platinum group metal prices are projected to last for the... 

Africa’s biggest economies set to hold interest rates as inflation risks linger

Central banks in Africa’s biggest economies are set to diverge from their emerging-market peers in Latin America and Europe over the next two weeks, as they maintain tight monetary policies to... 

South African economic hub’s water system on verge of collapse

South Africa is facing the prospect of a breakdown in the water supply to its industrial heartland and most-populated region, adding to the woes of an economy battered by power outages, congested... 

Global commodity trading profits topped $100bn for second-best year ever

The commodity trading industry reaped its second-best year ever in terms of profits, banking over $100-billion and building up a mountain of cash to spend on assets and breaking into new markets.... 

US Treasury’s Adeyemo says he’s more bullish on South Africa

Cooperation between the government and business is boosting South Africa’s prospects, despite the myriad challenges the economy faces, US Deputy Treasury Secretary Wally Adeyemo said. Adeyemo, who... 

Economy chief says Chile’s lithium products likely to get US subsidies

Chile is betting that components made with its lithium will qualify for subsidies under the US Inflation Reduction Act, potentially attracting a wave of fresh investment from companies seeking to... 

Iron-ore drops below $100 on China’s persistent property crisis

Iron-ore futures fell below $100/t for the first time in seven months as investors bet that China’s years-long property crisis will run through 2024, keeping a lid on steel demand. The steelmaking... 

South Africa takes next step toward opening up electricity trade

South Africa moved a step closer toward creating a competitive electricity market after legislation that establishes the framework cleared another hurdle. The Electricity Regulation Act Amendment...