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After several days of fuel station closures, and amid fears of a fuel shortage following an al-Qaeda-linked blockade of fuel imports in Mali’s capital Bamako last month, motorists waited in long lines outside the stations on Wednesday. Since last week, many stations have been forced to shut down or only supply diesel. Analysts say this is a tactic used by militant groups to put pressure on the military-led Mali government. They want to cut of its economic oxygen. In a video announcing a blockade, a militant from Jama'at Nusrat al-Islam wal-Muslimin announced that "we are telling all traders" who import...

Anglo American, the state-run Chilean copper giant Codelco and their Chilean neighbours have finalised a joint operation agreement for their Chilean copper mines. The aim is to extract at least $5 billion from their key assets. The mining plan is based on the memorandum signed in February by both Codelco and Anglo American. It relates to the Andina Mine of Codelco, as well as the Los Bronces Mine of Anglo American in central Chile near the capital Santiago. Codelco Chairman Maximo Pacheco said, "We are now able to maximise the potential of Andina-Los Bronces without major investment and with much...

Investors and bankers on Wednesday said that BHP, the world's largest copper miner, is focusing on growing its own assets as it transitions to a new leadership. This means it will not be able to gatecrash a planned $53 billion merger between Anglo American Resources and Teck Resources. Anglo American, a London-listed company, and Teck Resources, a Canadian firm, announced their merger on Tuesday. This is the second-largest tie-up in this sector. The goal of the merger is to create a global heavyweight focused on copper. The deal was announced just over a month after BHP canceled a $49-billion bid...

Bloomberg News reported that Cenovus Energy was in discussions with Indigenous groups to buy MEG Energy together. The report cited people who were familiar with the talks. The report stated that a group of First Nations communities, including Chipewyan Prairie First Nation (Chipewyan Prairie First Nation) and Heart Lake First Nation (Heart Lake First Nation), are in discussions with Cenovus to take a C$2 Billion ($1,45 Billion) stake in MEG. Bloomberg reported that the Indigenous stake would receive financial support from both the federal government and the provincial government, with Cenovus bidding for the remainder. MEG Energy shares were up...

Seven & i Holdings, a Japanese convenience store operator, said that the planned listing of their North American operations will allow them to borrow additional money for accelerated growth. Stephen Dacus, the CEO of the company, said that the listing is scheduled for the second half 2026. This will allow faster store openings in the U.S. as well as additional bolt-on M&As. After successfully repelling a hostile takeover attempt from Canadian competitor Alimentation Couche-Tard, the fate of the struggling operator of 7-Eleven rests on the ability to grow independently. Couche-Tard retracted its $46 billion bid last month citing a failure...

Suncor Energy, a Canadian oil company, exceeded analyst expectations for the second quarter profit on Tuesday as increased output offset the impact from weak commodity prices. Canada's oil-sands industry remains resilient, despite the fact that oil price volatility has pushed the energy sector into a slump. The expansion of the Trans Mountain Pipeline has provided Canadian producers with access to international markets and reduced their reliance on U.S. pipe networks. It now accounts for about 9% of Canada’s total crude oil exports. Canada exports almost 4 million barrels per day (bpd). Suncor's quarterly upstream production increased to 808100 bpd, from...

Enbridge, the Canadian pipeline operator, beat analyst's expectations for its second-quarter profits on Friday. This was boosted by earnings from newly acquired U.S. utilities and from its gas distribution business. The company announced that it had sanctioned the expansion of Aitken Creek, a gas storage facility located in British Columbia to accommodate the growing demand for LNG on the west coast of Canada. It also said that Line 31 would be expanded by 160 million cubic feet a day in the U.S. Southeast. Pipeline operators benefit from a rise in natural gas demand, driven primarily by LNG exports and rising...

Cenovus Energy, a Canadian oil and natural gas producer, reduced its forecast for its upstream production in the full year on Thursday. It cited the temporary shutdown of its Rush Lake facility. The company responded to an early-May steam leak from a casing rupture in an injection well, resulting in the temporary shutdown of Rush Lake's facilities in central-west Saskatchewan. Cenovus expects upstream production in 2025 to range between 805,000 and 825,000 barrels of oil-equivalent per day, as opposed to the 805,000 to 845,000 previously projected. The total upstream production for the second quarter was 765.900 boepd. This is down...

Alimentation Couche-Tard, a Canadian company, announced on Monday that it would resume its share repurchase programme. This comes just days after Circle K's parent company scrapped its $46 billion attempt to purchase Japan's Seven & I. The company announced that it would buy up to 77.1 millions shares, worth approximately $4.2 billion. This is part of its efforts to boost shareholder value following the failure of the long-term effort to purchase the Japan-based convenience-store chain. Couche-Tard with a market cap of $53 billion announced last week it would not pursue its bid to acquire Seven & I because the Japanese...

Alimentation Couche-Tard, which owns Circle-K, pulled out of its $46 billion offer for Seven & i after a year-long pursuit. The Japanese consumers have emotional ties with the rice ball seller. After a year-long pursuit the Canadian company that owns Circle-K withdrew their bid after a "calculated campaign of obfuscation" and "delay" by Seven-Eleven and lack of engagement from its founding Ito Family. Couche-Tard announced the proposal for Seven & i in August of last year. Shareholders were pressing Seven & i to increase returns by selling assets and focusing its core convenience store business. Michael Causton, consultant at JapanConsuming,...

Alimentation Couche-Tard, a Canadian retailer, withdrew a $46 billion takeover bid for Japan's Seven & i Holdings. It blamed the lack of constructive engagement on the part of Japanese retailer. The 7-Eleven operator's "konbini stores" would have been the largest foreign acquisition of a Japanese firm. This is the timeline for the bid: AUGUST 19, 2020 Couche-Tard says that it has contacted Seven & i regarding a possible takeover. Both companies do not disclose the value of their offer. Seven & i shares surged almost 23%, to 2161 yen, valuing it at approximately 5.6 trillion yen (about 38 billion dollars)....

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. After an extended year of negotiations, marked by dramatic turns and twists, Alimentation Couche-Tard announced that it would abandon its multi-billion-dollar bid to purchase the owner of 7-Eleven convenient stores. Indonesian President Prabowo Subianto confirmed Wednesday that the general outline of a new trade agreement between the United States and Indonesia was agreed. Under the agreement, U.S. goods exported to Indonesia will not be subjected to tariffs while Indonesian products in...

The Mali government announced that New York's Flagship Gold Corp. has signed an agreement with the state-owned Mali miner for the restart of production at the Morila Gold Mine. This is the first U.S. Investment under the new mining code in the nation led by the military. Mali's Mines Ministry said that the agreement signed on Wednesday in Bamako allows Flagship to purchase equity in Morila SA. The company has estimated reserves of 2,5 million ounces. The partnership details were not disclosed. The state took over the mine in the southern city Sanso, in Mali's Sikasso Region, in June, after...

The policies of U.S. president Donald Trump have devalued the dollar and fueled a gold rush, pushing prices to record highs above $4,000 per ounce in the past week, said Franco-Nevada's CEO, Franco-Nevada, on Thursday. Paul Brink, who spoke at a Melbourne business lunch, said that the combination of tariffs and a growing structural imbalance in the U.S. Trade Balance as well as the breakdown in trust in U.S. Institutions has accelerated "de-dollarisation". De-dollarisation is when countries stop relying on the dollar for financial transactions and as a currency reserve. Gold becomes more affordable to buyers who use other currencies...

Mark Carney, the Canadian Prime Minister, said on Wednesday that he and Donald Trump had "a meeting" of minds on the future of steel and aluminum industries in the United States. These sectors are currently subject to U.S. Tariffs. Carney Trump was in the Oval Office for trade talks on Tuesday. Officials stated that the meeting was productive, but they still needed more convincing to convince Trump to remove damaging tariffs against Canadian autos, steel and aluminum imports. Ottawa reports that Carney and Trump have asked officials to begin working on possible agreements in key sectors within the next few...

Teck Resources Limited, a Canadian mining company, cut its copper production forecast for its flagship Quebrada blanca (QB), in Chile until 2028. This was after a review of the entire operations and merger with Anglo American. Teck's shares rose by 2% on the Toronto Stock Exchange Wednesday morning. The copper production guidance for 2026 is now between 200,000 and 235,000 metric tonnes, down from the previous range of 280,000 to 3110,000 tons. Teck has also reduced its molybdenum guidance from 6,400 to 7600 tons to 2,800-3,400 tons. Teck has revised its copper production guidance for 2025 to 170,000 to 195,000...

Anglo American's CEO Duncan Wanblad stated on Wednesday that the company still views Africa as a part of its future because of its vital mineral resources. This is despite recent restructurings and asset sales in Africa. Anglo American is exiting its platinum and coal operations in South Africa where it was founded more than a century earlier. It will sell diamond miner De Beers and shift its focus on copper, an essential metal for the clean energy transformation. Kumba Iron Ore is the only major asset of South Africa. Wanblad, despite these exits, said Anglo intended to use South Africa's...

Investors bet that record gold prices would drive strong margins, capital flows and shareholder returns. According to LSEG Lipper, gold mining funds are up 114% in the past year, outpacing both technology funds (up 27%) and natural resource funds (up 23.7%). According to data, gold mining funds received $5.4 billion inflows during the third quarter, which is the biggest quarterly movement since December 2009. The price of gold reached a new record on Tuesday, as the U.S. shutdown continued and demand was boosted by expectations that the Fed would cut rates this month. Gold miners have been lagging behind the...

Trilogy Metals shares tripled in value in premarket trade on Tuesday, after the White House announced it would buy a 10% stake. The U.S. listed shares were $5.69 and valued the company at just under $1 billion. Washington has taken equity stakes, in industries that it believes are essential for national security. These include critical minerals and semiconductors companies. This is part of President Trump’s policy to reduce China's reliance. The U.S. Government announced on Monday, after the markets had closed, that it would invest $35.6 million in Trilogy and received warrants for an additional 7.5% stake. The President Donald...

U.S. president Donald Trump said on Monday that he signed an executive ordering directing his administration allowing an access road into the Ambler district of Alaska in order to unlock domestic supply of copper and other mineral. The White House announced an investment of $35.6 million in Canada's Trilogy Metals. This is one possible developer for the region. The U.S. Government becomes a 10% stakeholder in the company, and has warrants for an additional 7.5%. Trilogy shares listed in the U.S. more than doubled to $4.72 after-hours. This partnership is a vote of confidence for the Ambler Mining District, and...

Predictive Discovery, an Australian gold miner, and Robex Resources of Canada have announced that they will merge their companies in a A$2,35 billion (1.55 billion) all-share transaction. This merger will create a mid-tier producer of gold in West Africa. According to a joint announcement released late Sunday, Robex shareholders receive 8.667 shares of Predictive for every Robex share. This gives them approximately 49% ownership in the combined company. The new company is listed in Sydney, and will seek a dual listing at the TSX Venture Exchange of Canada. The combined project will produce more than 400,000 ounces of gold annually...

Four people with knowledge of the talks said that Trump administration officials had discussed taking a stake Critical Metals Corp. This would give Washington an interest in the biggest rare earths project on Greenland - the Arctic territory President Donald Trump suggested purchasing. The deal, if finalized, would be the latest political twist in the Tanbreez rare-earths deposit. Former President Joe Biden successfully lobbyed for it to be sold to New York based Critical Metals at a much lower price than the Chinese firm offered. Washington recently acquired stakes in Lithium American and MP Materials. This shows Trump's desire to...

Bloomberg News, citing sources with direct knowledge, reported that Eric Trump, son of U.S. President Donald Trump, had signed up to be a Citigroup client and set up a trust which holds some of his dad's money. Reports added that the value of the trust held by Citigroup with the U.S. president as its beneficiary is not clear. Donald Trump's second term in office saw him hand over the management of his assets to his children. This was a repeat of an arrangement made during his previous term. The report stated that Citi's relationship began after CEO Jane Fraser congratulated...

Futures linked to the S&P 500 index and the Nasdaq Index advanced early on Thursday. A day earlier, weaker than expected private payroll data had boosted hopes for rate cuts. Traders were bracing for a session with little data due to the U.S. Government shutdown. Investors are still sensitive to any sign of policy easing. Rate-cutting optimism has been a major factor in the recent rally, which has pushed equities up to high valuations. Investors are now relying on alternative data sources to fill the data vacuum left by the shutdown. This includes Wednesday's ADP National Employment Report which was...