Chinese zinc smelters meet to mull output cuts to stem losses

China’s major zinc smelters are discussing possible output cuts, after tight global supplies of concentrate and weak demand forced spot processing fees into negative territory. The response to the... 

Rare earth miner Tactical Resources plans Nasdaq listing via SPAC deal

Tactical Resources, a mining company focused on rare earth elements, has agreed to go public on the Nasdaq stock market through a merger with a blank-check firm, according to people familiar with... 

Miners tap trucks, divert shipments to sidestep Canada rail woes

Two mining giants are re-routing shipments and turning to trucks to deal with disruptions from a Canadian railway stoppage that threatens to undermine the industry’s operations. Rio Tinto Group... 

Flash copper price squeeze helps upend global trade flows

When copper surged toward a record high in New York in May, a ship was in the Pacific Ocean carrying a raw form of the metal from Chile to top buyer China. By the time the Ricarda arrived in... 

Trudeau calls on railways, union to reach deal to avoid strike

Prime Minister Justin Trudeau is urging Canada’s two largest railways and unionised workers to reach a deal to avert a strike that businesses warn will cause significant harm to the Canadian and US... 

SQM keeps expanding into lithium glut but vows market review

The world’s No. 2 lithium producer SQM shipped record-high volume last quarter and vowed to keep growing production in Chile even as slumping prices prompt a review of “less attractive” markets.... 

Peabody rises after Thomist takes stake, suggests buybacks

Peabody Energy rose more than 7% after Thomist Capital Management disclosed a 9.96% stake and urged the coal miner to buy back shares. Thomist suggested to Peabody management that the company... 

Arch merges with Consol to create a coal-export powerhouse

US coal producer Arch Resources Inc. agreed to merge with rival Consol Energy in a $2.3-billion deal aimed at creating a North American mining heavyweight to deliver the fuel around the world. The... 

Zimbabwe bans riverbed mining to protect water sources

Zimbabwe has banned riverbed alluvial mining with immediate effect to protect the environment, a move that could impact many of the country’s gold miners. Agriculture Minister Anxious Masuka made... 

China’s exports of critical minerals recover after curbs imposed

Chinese exports of critical minerals are returning to more normal levels, undercutting fears that the restrictions imposed by the government last year could choke off supplies crucial to high-tech... 

Iron-ore rises for third day on China policy support optimism

Iron-ore rose for a third day — recovering more of its 9% plunge last week — on signs Chinese authorities will take more steps to try and revive the country’s moribund property market. The... 

Coal miner Arch Resources is said to be in talks to merge with Consol

Arch Resources is nearing an agreement to merge with Consol Energy in a combination that would create a $5-billion coal mining company, according to people familiar with the matter. An agreement... 

Coal-rich Indian state to pass mining tax after court ruling

The Indian state of Jharkhand has passed a bill imposing mining taxes, according to people familiar with the matter, a move that’s set to inflate the prices of minerals from coal to bauxite. The... 

Iron-ore to extend rout as it’s ‘different this time,’ Citi says

Iron-ore is poised to extend declines into the $80/t range as China’s steelmakers reduce production, according to Citigroup Inc., which pared price forecasts and said that market dynamics have... 

Gold steady above $2 500 ahead of Powell’s Jackson Hole speech

Gold was steady near a record high before a hotly anticipated speech by Federal Reserve chair Jerome Powell later in the week, which may offer clues on how rapidly the central bank will cut... 

Gold bars are worth a million dollars for the first time

For the first time ever, a bar of gold is worth a cool one million dollars. The milestone was reached Friday, when the precious metal’s spot price surpassed $2 500 per troy ounce, an all-time... 

Chinese copper exports fall from record as local demand rebounds

Chinese copper exports dropped last month from an all-time high, as domestic buyers took advantage of the metal’s rapid retreat in price. Exports of unwrought copper and products fell 40% from... 

Yukon aims to reopen mine it seized from Victoria Gold

Canada’s Yukon Territory wants to eventually reopen a gold mine it seized from Victoria Gold after a major landslide and cyanide spill at the facility earlier this summer. Yukon’s government said... 

Iron-ore battered to 2022 low as China’s steel crisis hits home

Iron-ore headed for a brutal weekly loss, hitting the lowest level since 2022, on concern that a steel-industry crisis rippling across China will sap demand, while supplies from miners remain... 

Chinalco is said to eye stake in biggest Philippine copper mine

Aluminum Corp. of China is considering investing in what is set to be the Philippines’ largest gold and copper mine as part of its efforts to boost its global footprint, according to people... 

Former Trafigura COO’s Swiss corruption trial set for December

The Swiss trial of Trafigura Group and its former COO Mike Wainwright on corruption charges has been scheduled for December — in a case that’s likely to shine a renewed light on allegations of... 

China slashes steel output as industry sounds alarm on demand

Chinese steelmakers slashed output last month as woeful demand forced steep cuts on an industry contending with a collapse in margins. Steel production in July plunged about 9% on both the month... 

Canada’s Yukon seeks to place Victoria Gold into receivership

The government of a Canadian territory is seeking to place Victoria Gold into receivership after a major landslide and cyanide spill at the company’s flagship bullion mine earlier this summer.... 

Gold approaches record high with focus on US inflation data

Gold edged up to near a record, as investors awaited key inflation data that could prompt the Federal Reserve to cut interest rates next month. Bullion reached as high as $2 478.61 an ounce –... 

Illegal mining soars near First Quantum's idled Panama mine

Illegal mining near First Quantum Minerals' Cobre Panama copper mine has soared since the facility suspended operations last year, an industry group warns. More than 250 instances of illegal... 

World’s biggest steel producer warns of ‘severe’ industry crisis

China’s steel industry is facing a crisis more serious than the downturns of 2008 and 2015, the leading producer warned, highlighting a need to preserve cash and likening conditions to a “severe... 

Pandora CEO says diamond market faces disruption in next decade

Pandora A/S’s chief executive officer expects it will take less than ten years before consumers buy more lab-grown diamonds than mined stones because they increasingly weigh up costs and climate... 

Barrick CEO says gold giant is eyeing opportunities in Canada

Barrick Gold, the world’s No. 2 bullion producer, is looking for investment opportunities in Canada as prices for the precious metal push higher. CEO Mark Bristow said he’s cautious about... 

Botswana to cut spending on cars, travel as diamond slump persists

Botswana plans to reduce spending on new vehicles and travel for government officials and may delay some capital projects to deal with a slump in diamond revenues, according to its finance... 

South Africa's coal export line will need five years to refurbish

South Africa’s State-owned rail company needs $669-million and five years to upgrade equipment to revive performance of its main export coal line, according to an internal report. Coal shipments... 

A $91bn trade means mining in one of the world's hottest places

Snaking through the russet-colored expanse of Australia’s remote Outback, vast mile-long trains ferry iron-ore — the nation’s most valuable export — across a crucial mining district that’s... 

Private placements, carbon seen by JSE as African growth route

JSE, which operates Africa’s biggest stock and bond exchanges, is looking to expand its private placement and carbon offset platforms across the continent. The JSE Private Placements platform,... 

China drives African lithium surge to lock in key battery metal

Chinese miners and refiners are driving a surge in African lithium output, shrugging off concerns over a glut to lock in future supplies of the critical battery metal. The continent is projected to... 

Zambia closes border with DRC, blocking key copper trade route

Zambia has temporarily shut its borders with the Democratic Republic of Congo (DRC), the government said at the weekend, in a move that could delay exports from Africa’s biggest copper producer.... 

Gold steadies before US inflation data as recession fears linger

Gold steadied ahead of key US data prints this week, with traders focused on whether they will reinforce bets the Federal Reserve will soon pivot to monetary easing. Bullion was trading near $2... 

Canada to fund health study on how oil sands impact Indigenous communities

Canada will fund an Indigenous-led study into how oil sands development impacts the health of local communities, the government said on Wednesday, following a tailings water leak from an Imperial... 

Rio Tinto’s Serbia lithium project faces fresh protests

Environmental activists and opposition groups are set to gather in the center of Serbia’s capital on Saturday to demand a halt to the Rio Tinto Group’s $2.4-billion plans to open Europe’s biggest... 

Olympic gold medals are worth more than ever after cost of metals surged

Olympic gold medals are worth more than ever at this year’s Paris games, with the raw materials that go into them having the potential to fetch about $900 each. The medals contain six grams of... 

Chile copper export revenue rises in July despite lower prices

Chilean copper exports rose last month despite lower prices, signaling mines in the world’s top supplier of the metal are recovering from operational setbacks that dragged down production. July... 

Fertiliser giant Nutrien names new CFO amid industry downturn

Nutrien named a new chief financial officer amid an industry downturn that has eroded the fertiliser giant’s profits. Mark Thompson, who has been with the company since 2011 and is currently...