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GM, Stellantis-backed lithium startup seeks $1bn for brine project
A private US lithium startup backed by Stellantis and General Motors Co. is working with financial advisers to seek more than $1-billion for its project in California. The funds are for a project...
Call for lower prices of green hydrogen
Billionaire ports-to-coal tycoon Gautam Adani has called for a renewed global focus on lowering green hydrogen prices to spur the clean fuel’s adoption in emissions intensive industries. Lowering...
Hedge funds react to supply shocks with bold bets on copper
A number of hedge fund managers are betting that copper stocks are significantly undervalued, as they position themselves for gains this year. Funds including Tribeca Investment Partners, Terra...
Sigma announces jump in size of Brazilian deposits
Sigma Lithium announced an increase in the estimated size of its deposits of the electric vehicle battery metal in Brazil, which the company said will allow it to further expand production levels...
Endeavour wins ruling to end strike at Burkina Faso gold mine
Endeavour Mining secured a decision from a court in Burkina Faso ordering that a strike at the company’s second biggest mine should end immediately. The court issued an interim ruling on Tuesday...
Canada Energy Minister sees opportunity in US pause on LNG
US President Joe Biden’s decision to pause approvals of new licenses to export liquefied natural gas will create opportunity for Canada’s sector, Energy Minister Jonathan Wilkinson said Tuesday....
Rob McEwen seeks $100m for Argentina copper mine as Milei boosts prospects
Canadian entrepreneur Rob McEwen is in talks to raise about $100-million for a copper project in Argentina, at a time when miners are betting that deregulation by the new government of Javier Milei...
Lithium miners warn on plunging profits after price freefall
Two of China’s biggest lithium companies became the latest miners to issue stark warnings over the health of the battery metal industry, telling investors to prepare for tumbling profits and asset...
Trafigura-backed nickel mine seeks new partner to secure bailout
A major nickel operation backed by Trafigura Group will need support from a new investor after the trading giant declined to contribute more funds as part of a French government rescue package for...
A Trump win won’t sink IRA's climate benefits, California regulator predicts
California’s top environmental regulator said it’s unlikely that the Inflation Reduction Act’s climate-focused tax credits will be undone, even if Donald Trump recaptures the White House in...
Investec predicts South Africa M&A revival citing ‘renewed optimism’
Mergers and acquisitions in South Africa are set to rebound this year as the $405-billion economy starts to show signs of recovery, according to Investec. As macroeconomic metrics improve around...
IMF cuts South Africa's 2024 growth forecast
The International Monetary Fund downgraded its economic-growth forecasts for South Africa, warning that logistical challenges are constraining activity and acting as a drag on the entire region....
Trader IXM will shrink aluminium unit to focus on core business
IXM, the trading house owned by Chinese miner CMOC Group, is stepping back from the aluminum market to focus on its core business. The trading house, the third-largest metals trader behind...
Endeavour goes to court to end strike at Burkina Faso gold mine
An Endeavour Mining unit filed a lawsuit in a bid to end a strike in Burkina Faso that’s disrupted operations at the company’s second-biggest gold mine. The subsidiary that runs the Hounde project...
Third mine disaster in a decade tests ESG boundaries in Brazil
Investors were swift to dump debt of Braskem after the Brazilian petrochemicals maker’s salt mine partially collapsed in December — a situation that has forced tens of thousands to evacuate the...
Albemarle lays off 4% of its global workforce
Albemarle, the world's largest lithium producer, has laid off more than 300 employees, or 4% of its workforce, as part of a previously announced round of cost-cuts, The Information news site...
Codelco pays heavy price for ramping up debt burden to fund over-budget projects
Codelco is paying a heavy price for increasing its already heavy debt load to finance late and over-budget projects that are needed to maintain its status as the world’s biggest copper supplier....
Climate change risks raising South Africa premiums, insurer says
Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, a top official at its biggest insurer by assets said....
Russian tycoon Nesis’s group sells Polymetal stake to Omani fund
CT Holding, led by Russian billionaire Alexander Nesis, sold its entire holding in a gold producer to a Omani state-backed fund. ICT’s unit closed the deal to sell 23.9% in Polymetal International...
Battery metals bust spurs output cut at leading lithium mine
Australia’s biggest lithium mine and one the world’s flagship projects has become the latest battery-metals venture to feel the pain from faltering demand growth, with output set to be trimmed as...
Hedge fund that's up 227% makes commodity bets on rate-cut talk
XIB Asset Management, the Canadian hedge fund that gained more than 200% in the first two years of the pandemic, is now betting that gold and uranium will outperform as interest rates decline. The...
Vedanta’s quarterly profit declines on weak prices, higher costs
Billionaire Anil Agarwal’s Indian mining company Vedanta reported an 18% drop in quarterly profit on weak prices of key metals such as zinc and aluminum and higher finance costs. It posted a...
Battery-metal price plunge closing mines, stalling deals
A meltdown in some of the most-hyped energy-transition metals is wreaking havoc across the mining world, stalling projects, scuppering deals and triggering a scramble for cash that promises to...
Plaintiffs demand €582m from TÜV Süd over Brazil dam burst
More than 1 400 plaintiffs are demanding over €582-million in damages from German industrial inspector TÜV Süd over its alleged role in the deadly collapse of a dam in Brazil, their lawyers said on...
Saudi Arabia to import meat from new Brics partner South Africa
Saudi Arabia will start importing South African beef and lamb products as part of an investment push into the continent’s most developed economy. The kingdom’s Food and Drug Administration lifted a...
Uranium producer Niger launches mining sector overhaul
Niger temporarily suspended the granting of new mining licenses, the first step in an audit of its mining sector as it seeks to boost government revenue. The country will also take stock of...
DP World’s $2bn Mozambique port expansion gets approval
Mozambique approved an extended deal for DP World, Grindrod and other operators of its biggest port, including a $2-billion expansion that will further draw cargoes away from neighboring South...
Australia lithium miners start cost-cutting drive on price rout
Australia lithium miners are cutting jobs, trimming exploration budgets and reviewing dividend payments following a slump in prices of the key component in electric-vehicle batteries. Core Lithium...
Winners of China’s 2023 coal-buying bonanza face a tougher year
China’s coal-buying bonanza last year benefited suppliers of higher-grade fuel the most, but 2024 is likely to prove more challenging for imports generally as the world’s biggest buyer dials back...
Aurubis moves to terminate CEO’s contract after copper scam
Aurubis is preparing to terminate the contract of its CEO and two other executive board members, as the copper producer seeks to move on from a giant raw-material scam. The company’s supervisory...
Nickel prices keep slumping even as mines close
Nickel continued its slump, heading toward the lowest level in more than three years, even as the collapse in prices for the metal force mines to shutter. The metal used in stainless steel and...
Codelco wins shareholder approval to secure first lithium asset
Codelco, the world’s biggest copper producer, won approval to buy Lithium Power International after shareholders of the Australian junior voted in favor of a takeover that diversifies the Chilean...
Nickel price crash seen strengthening Indonesia's grip on supply
A prolonged slump in nickel prices is stress-testing producers worldwide, raising the prospect of sweeping mine closures that will deepen Indonesia’s dominance of global supply. The metal used in...
Forrest shuts nickel mines after prices crash
Wyloo Metals, the private nickel producer owned by billionaire Andrew Forrest, is shutting down its Western Australian mines due to a sharp slump in prices for the key transition metal. The mines...
Two Australian resource-rich regions facing destructive storms
Two Australian resource-rich regions are bracing for potentially damaging storms that could lead to flooding, the latest threats after months of extreme weather events. A tropical low developing...
Trafigura’s former battery metals co-head Wetterwald is leaving
Mehdi Wetterwald, who was briefly co-head of battery metals at Trafigura Group, is leaving the trading house in the latest senior departure from its metals unit. Wetterwald, who joined Trafigura...
Lula pushes ally for Vale CEO as Brazil’s iron-ore miner weighs succession
Political lobbying as much as boardroom maneuvering could determine who wins the race to become the next boss of Vale, the world’s No. 2 iron-ore producer. Brazilian President Luiz Inacio Lula da...
Gold riches fuel Sudan militia’s war to rule nation, UN says
Sudan’s paramilitary Rapid Support Forces (RSF) group is using large-scale proceeds from gold mining to fund its devastating war against the nation’s army, according to United Nations...
Key African economies to hold off from rate cuts until second half of 2024
African central banks due to decide on interest rates in the next three weeks are poised to maintain tight monetary policies, in contrast to their emerging market peers in Europe and Latin America,...
Cyclone forming near Australia's coast may have 'severe impact'
Australia’s resource-rich Queensland state is bracing for its second tropical cyclone in a little more than a month, with a storm off the coast expected to strengthen during the weekend. A...
Endeavour Mining says former CEO to lose $29.1m in pay
Endeavour Mining is stripping its former CEO Sébastien de Montessus of $29.1-million in renumeration after he was fired earlier this month for “serious misconduct". The London-based gold miner...
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