Miner owned by South America’s richest family mulls bond sale

Copper miner Antofagasta is holding meetings with investors this week for its first dollar bond offering in nearly two years, people familiar with the matter said. CFO Mauricio Ortiz and other... 

Anglo’s stumbles have made it prey for mining’s biggest predator

When former boss Mark Cutifani left Anglo American in mid-April 2022, things had rarely looked better for the century-old miner. Metals prices soared as the world emerged from lockdowns, the... 

Anglo American share price shows traders want a sweeter bid

Traders are pushing Anglo American Plc shares above the value of BHP Group’s takeover proposal, a sign they expect a higher bid from the suitor or an interloper. BHP’s proposal, which values the... 

Mantashe signals opposition to BHP-Anglo deal

South African Mines Minister Gwede Mantashe signaled his opposition to BHP Group Ltd.’s proposed takeover of Anglo American. The offer by the world’s largest miner envisages an all-share deal in... 

Congo questions Apple on concerns about use of conflict minerals

The Democratic Republic of Congo’s government notified Apple of concerns that the company’s supply chain may be tainted by conflict minerals sourced from the central African nation. A group of... 

Zimbabwe’s Mnangagwa names new Mines Minister in mini-reshuffle

Zimbabwe’s President Emmerson Mnangagwa has reappointed Winston Chitando as the Southern African nation’s Mines Minister, a post he held before last year’s elections. Prior to his reappointment,... 

BlackRock says $12 000/t copper is needed to incentivise new mines

Copper needs to reach $12 000/t — a 20% jump from this week’s high — to incentivize large-scale investments in new mines, said Olivia Markham, who co-manages the BlackRock World Mining Fund. The... 

China copper gauge at zero offers stark warning to metal bulls

A key measure of Chinese copper demand just sank to zero, another sign that global prices are not balanced with what buyers in the biggest market are prepared to pay. Premiums paid on imported... 

World’s biggest energy traders are returning to metals markets

Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets. Vitol Group, Gunvor Group and Mercuria Energy Group... 

South Africa advised by World Bank on climate insurance, contingency fund options

The World Bank is advising South Africa’s National Treasury on a climate risk strategy after floods in recent years caused billions of dollars of damage. The country may take out climate insurance... 

Red Rocket of South Africa hires Goldman to explore sale option

Red Rocket, a South African independent power provider, hired Goldman Sachs Group to advise on the next steps for the closely held business – including a possible sale. Shareholders of the Cape... 

Northern Star sees ramp up in gold sales as output expands

Australian miner Northern Star Resources expects to “significantly increase” gold sales this quarter on higher production and better grades from its Kalgoorlie operations, including the Super Pit,... 

Cliffs’ CEO calls share buybacks better use of money than deals

Cleveland-Cliffs’ top boss says buying back shares make more sense than takeovers — a view that underpins the US steelmaker’s decision to repurchase as much as $1.5-billion in stock. “Buying our... 

Chinese nickel billionaire boosts Australian miner in Indonesia

A little-known Australian company is becoming the Western face of a Chinese nickel behemoth. In under a decade, Nickel Industries has gone from a relatively small miner to the world’s... 

South Africa evades US censure even as it builds links to rivals

South Africa is playing all sides when it comes to foreign policy as the country seeks to position itself as a leading voice of the Global South, and the approach seems to be working — so far. The... 

Copper nears $10 000 as investors bet on rising global demand

Copper edged closer to $10 000 a ton after an April rally fueled by bets that a recovering global economy will lift demand for industrial materials. Metals have posted broad gains in recent weeks,... 

China is front and center of gold's record-breaking rally

Gold’s rise to all-time highs above $2 400 an ounce this year has captivated global markets. China, the world’s biggest producer and consumer of the precious metal, is front and center of the... 

SAA seeks minority partner, loans

South Africa is seeking potential minority investors and access to capital markets and loan financing for South African Airways (SAA) for more rapid expansion, following the collapse of a previous... 

JSE plans overhaul to encourage smaller listings

The operator of the JSE has proposed easing some listing requirements in a bid to encourage smaller companies to the bourse, removing some of the red tape it says has become an obstacle. The... 

Gold surges past $2 400 on Middle East conflict concerns

Gold surged past $2 400 an ounce as concerns over rising tensions between Israel and Iran stoked haven demand. Bullion rose as much as 1.3% and headed for a fifth weekly gain after unverified media... 

South Africa to keep anti-dumping duties on chicken imports from US

South Africa’s trade minister approved a recommendation to maintain anti-dumping duties on frozen bone-in chicken portions originating in or imported from the US. Following an investigation that... 

Rio, Saudi Arabia said to vie for stake in First Quantum mines

Rio Tinto Group and Saudi Arabia’s state-backed Manara Minerals Investment Co. are among suitors considering bids for a stake in First Quantum Minerals’ Zambian copper mines, according to people... 

Goldman says South African market ‘tough’ before election

South African investors are holding off on big moves before the vote next month, Goldman Sachs Group said, as the elections shape up to be the most pivotal in 30 years. Assuming the vote is... 

Saudi Arabia moves closer to $1bn Barrick Pakistan deal

Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold, people with knowledge of the matter said. Manara Minerals Investment,... 

Air Canada employees are suspects in Toronto airport gold heist

Police have named Air Canada employees among the suspects in the theft of 6 600 gold bars from a cargo facility at the country’s busiest airport, in what’s been dubbed Canada’s largest-ever gold... 

Africa’s oldest oil-rich dictatorship has a succession problem

Two South African engineers working in Equatorial Guinea’s offshore oil fields were preparing to return home in February 2023 when they were arrested for cocaine trafficking and thrown in jail,... 

Zambia copper mines hit by State utility’s warning of power cuts

Zambia’s State power utility has served notices of force majeure on supply of electricity to some mines, according to an industry association, threatening additional pressure on a copper market... 

Trafigura CEO says copper must surpass $10 000/t to meet demand

In order to fill a potential supply gap of eight-million tons by 2034, mining companies need prices that are higher than $10 000/t and possibly as high as $12 000/t, says Trafigura Group CEO Jeremy... 

Rio Tinto copper boss says building mines is better than buying

Rio Tinto Group’s copper head says he sees much more value in building mines rather than buying existing assets — comments that may disappoint industry observers anticipating another spate of... 

Endeavour accused of misleading buyer of two African gold mines

Endeavour Mining has been accused by Lilium Mining of misrepresentation over the sale of two African gold mines, as the fallout from the tenure of ousted CEO Sebastien de Montessus continues.... 

German coal mines emit much more methane than reported, study says

German coal mines spew 184 times more methane than what the country reports to the United Nations, according to a new analysis by Ember. The energy think tank used methodology developed by... 

How a $10bn mine became a cautionary tale for the energy transition

When the group of mining executives arrived at Panama’s regal Palacio de las Garzas, they were ushered past the ornate, wood-paneled ceremonial rooms and straight to the private office of the... 

Gold seen hitting $3 000 at Citi as investor inflows juice rally

Gold is set to reach $3 000 an ounce over the next six to 18 months on increasing investor inflows amid expectations that the Federal Reserve will eventually cut interest rates, Citigroup said,... 

South Africa challenges EU on citrus export restrictions

South Africa has taken a preliminary step toward filing a complaint with the World Trade Organization (WTO) against the European Union (EU) over its treatment of citrus imports from the country,... 

Bridge disaster in Baltimore gets FBI criminal investigation

The FBI has opened a criminal investigation into what occurred on the cargo ship that crashed into Baltimore’s Francis Scott Key Bridge and caused it to collapse, according to a person familiar... 

Metals spike on LME after Russian supply hit by US, UK sanctions

Aluminum and nickel surged on the London Metal Exchange as traders responded to new US and UK sanctions that banned deliveries of any Russian supplies produced after midnight on Friday. The new... 

France wants to revive copper mining and speed up green projects

France plans measures to revive copper mining and speed up lithium and geothermal energy projects to help reduce dependency on imports and hit climate targets. European countries are trying to... 

Panama’s $10bn mine closure casts a shadow over election and bonds

Six months after violent protests rocked Panama, the country’s politicians are on edge and foreign investors are staying away. The demonstrations, which started among local unions and university... 

Gold jumps after Iran strike against Israel stokes haven demand

Gold rose as much as 1.2% shortly after the open as Iran’s attack on Israel over the weekend drove demand for haven assets. Bullion traded near a record high set on Friday as the conflict in the... 

Woodside under climate pressure from Australia's pension body

Some of Australia’s top pension funds have been advised to oppose Woodside Energy Group’s climate strategy, potentially adding pressure on the energy producer over its approach to emissions. The...