MIND ID to acquire 14% stake in Vale Indonesia from foreign investors

Indonesia's mining industry holding company, MIND ID, agreed on Monday to acquire a 14% stake in Vale Indonesia from Vale Canada and Japan's Sumitomo Metal Mining, to become the top shareholder at... 

Vale sees no sign of environmental breach at suspended mines

Brazilian miner Vale does not see signs of environmental or social breach at two of its mines whose operating licenses were suspended this week, Vale Base Metals chair Mark Cutifani said on... 

WTO seeks modest outcomes in Abu Dhabi at 'critical juncture' for global trade

Trade ministers from nearly every country in the world gathered in Abu Dhabi on Monday for a World Trade Organization meeting that aims to set new global commerce rules, but even its ambitious... 

Sasol reports 34% decline in half-year profit

Sasol reported on Monday a decline of 34% in half-year profit, mainly due to weaker oil and petrochemical prices as well as higher costs. Sasol, the world's biggest producer of fuels and chemicals... 

Lynas jumps as H1 profit tops estimates despite soft China demand

Australia's Lynas on Monday posted a better-than-expected half-year profit, sending its shares higher, even as the rare-earths miner navigated a tough market with weak underlying commodity prices... 

Forrest urges LME to separate nickel contracts into 'dirty' and 'clean'

The London Metal Exchange should classify its nickel contracts into "clean" and "dirty" contracts to give customers more choice, Australian iron ore magnate Andrew Forrest said on Monday. The... 

Alcoa aims to take out Australian partner Alumina in $2.2bn deal

US aluminium producer Alcoa on Monday made a non-binding, conditional buyout proposal for its Australian joint venture partner Alumina, valuing the company at $2.2-billion in an all-stock offer.... 

Zijin Mining gains approval for Tibet copper mine expansion

Chinese miner Zijin Mining has received local government approval for the second phase expansion of its Julong copper project in Tibet, the company said in a filing to the Shanghai Stock Exchange... 

Europe, Africa oil markets tighten, lending support to futures

Red Sea shipping delays and Opec+ supply cuts are tightening physical oil markets in Europe and Africa as well as the Brent crude market structure, lending further support to oil futures prices,... 

Zimbabwe wants lithium miners to plan new capacity despite price dive

Zimbabwe wants miners to come forward by the end of March with plans to produce battery-grade lithium, despite a sharp fall in global prices for the mineral, a senior government official said on... 

France’s $1.6bn uranium deal with Mongolia faces delays

A $1.6-billion uranium mining deal between France and Mongolia that is part of French efforts to diversify supplies to power its fleet of nuclear reactors is running into political hurdles. A... 

Activist investor Elliott to target mining assets worth at least $1 billion

Elliott Management is setting up a company to hunt for global mining assets in the range of at least $1-billion, as it seeks to take advantage of the depressed valuation of groups operating in the... 

Vale fourth-quarter profit falls 35% on higher provisions over dam accident

Brazilian miner Vale reported on Thursday a 35% drop in fourth quarter net profit, missing analyst expectations by almost half, following higher provisions related to its Samarco joint venture and... 

MP Materials swings to quarterly loss on falling rare earths prices

Rare earths miner MP Materials on Thursday reported a fourth-quarter loss due to slipping prices for the strategic minerals and rising production costs, although the loss was not as much as... 

Teck expects to close coal unit sale to Glencore by Q3, CEO says

Canadian miner Teck Resources plans to close the sale of its steel-making coal unit to Glencore no later than the third quarter of 2024, CEO Jonathan Price told Reuters in an interview on... 

Tiger Brands pursues efficiency after sales volumes shrink

Tiger Brands, South Africa's biggest food producer, is reviewing spending and the number of brands it sells, it said on Thursday, after inflation drove consumers to buy less, knocking its revenues... 

Teck Resources Q4 profit beats targets on strong coal sales, copper output

Canadian miner Teck Resources beat fourth-quarter profit estimates on Thursday, helped by an increase in steelmaking coal sales and record copper production. The company also benefited from higher... 

Eramet in talks with France to offload debt from SLN nickel unit

Eramet is in "very advanced talks" with the French government to remove from its balance sheet several hundred million euros of debt related to its loss-making nickel subsidiary SLN in New... 

First Quantum announces capital restructuring to reduce debt

First Quantum Minerals on Wednesday announced a series of capital restructuring measures that would strengthen its balance sheet and cut debt, a move that will help the Canadian miner deliver on... 

Vale says its Sossego copper mine operating licence has been suspended

Brazilian miner Vale said on Wednesday it had received a letter from the State of Para's environmental secretary informing it that its operating license for its Sossego mine has been suspended.... 

Fortescue beats on first-half profit, posts strong dividend

Australia's Fortescue on Thursday posted a 41% jump in its half-year profit and declared a better-than-expected dividend, supported by strong iron-ore shipments and higher prices for its lower... 

Lithium producer IGO beats on profit, shares up

Australia's IGO reported interim underlying profit ahead of analysts' expectation on Thursday, even as the battery metal producer reeled from falling prices of key commodities, and said it did not... 

First Quantum says it is seeking $20bn over Panama mine closure order

Copper miner First Quantum Minerals said on Wednesday it was seeking $20-billion through international arbitration after Panama ordered the closure of the company's mine in the central American... 

China's top coal producing region tells miners to curb overproduction

China's top coal-producing region of Shanxi has ordered miners to curb overproduction, according to a notice this week from authorities in the northern province, sparking a rally in coking coal... 

South African inflation picks up in January

South Africa's headline consumer inflation quickened to 5.3% year on year in January from 5.1% in December, data showed on Wednesday. Key contributors to the annual inflation rate included food,... 

Copper, gold to get 'largest immediate' boost from Fed easing, Goldman says

Copper and gold are expected to see the largest immediate price boost in the commodities sector from potential US Federal Reserve interest rate cuts, analysts at Goldman Sachs said. "The immediate... 

First Quantum Minerals re-shuffles management at Zambian operation

Canadian miner First Quantum Minerals is re-shuffling top-tier personnel at its Zambian operations in a bid to tackle production and safety shortfalls in the South African country, an internal memo... 

Ramaphosa sets May 29 election date

South Africa will hold national and provincial elections on May 29, President Cyril Ramaphosa's office said on Tuesday. "I call on all South Africans to exercise their democratic right to vote and... 

Gecamines plans overhaul of mining JVs in world's top cobalt supplier

The Democratic Republic of Congo's (DRC's) State miner is broadening a push to extract more from its copper and cobalt joint ventures, seeking to negotiate for higher stakes across the board to... 

JSW Steel in talks with Australia's Whitehaven for coal mine stake

India's JSW Steel is in talks with Australian miner Whitehaven Coal for a stake in its Blackwater metallurgical coal mine, a source aware of the discussions said on Tuesday. JSW Steel, India's... 

Antofagasta says profit up 5% in 2023, cuts dividend

Chile's Antofagasta on Tuesday reported a 5% rise in 2023 profit as copper production and prices increased, offsetting higher costs. Although the mining group reported earnings before interest,... 

India gets 40 bids for commercial coal mines

ndia has received a total of 40 bids for some of the 32 commercial coal mines that were made available for auctioning in December, the government said in a statement on Monday, adding the bids... 

Goldman, hedge funds step up activity in physical uranium as prices spike

Investment banks Goldman Sachs and Macquarie, as well as some hedge funds are positioning themselves to reap the benefits of a newly buoyant uranium sector as prices of the nuclear fuel ingredient... 

Niger names new ministers of mining and energy in reshuffle

Niger's military government has named new ministers of mining and energy in a government reshuffle, splitting up the previous ministry of mines, petrol and energy into three posts, it said on... 

Vale board split on future of current CEO, say sources

A board vote to decide on the future of Brazilian miner Vale's CEO ended in a tie, two people familiar with the matter told Reuters, weeks after the government pressured the mining giant to... 

Australian lithium stocks rally on speculation of China mine closure

Australian lithium stocks rallied on Monday on speculation that Chinese battery maker CATL had closed its Jianxiawo mine in China that produces the material used in electric vehicle batteries.... 

SSR Mining says environmental permit for Turkey mine has been revoked

Canada-listed gold miner SSR Mining said late on Sunday that its environmental permit for a gold mine in eastern Turkey has been revoked. The operations at the company's Copler mine will remain... 

Rusal to add Abramovich to lawsuit against Potanin over nickel miner pact

Aluminium giant Rusal obtained permission by a London court on Friday to add Russian billionaire Roman Abramovich and his firm Crispian Investments as defendants in the case against Vladimir... 

SSR Mining says eight employees detained after Turkey mine landslide

Gold miner SSR Mining said on Friday that eight of its employees have been detained amid an investigation into a landslide at its mine in Turkey and that operations there remain suspended. SSR... 

Africa's economic growth fell to 3.2% in 2023, says AfDB

Africa's economic growth fell to 3.2% last year from 4.1% in 2022, the African Development Bank said on Friday, but it projected higher growth this year for all regions except central Africa. The...