Latest News
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Source: BHP renewed its bid for Anglo American
BHP Group, the mining company, has renewed its takeover bid for rival Anglo American, according to a source with knowledge of the situation. This comes just months after BHP and Teck Resources, the Canadian miner, agreed to merge to form a global heavyweight in the copper industry. Anglo American refused to comment. BHP didn't immediately respond to an outside normal business hours request for a comment. Bloomberg News, citing sources familiar with the situation, reported that BHP made overtures to Anglo American recently. The report added that discussions are still ongoing and a deal is not certain. Anglo American has a market capitalisation of around $41,80 billion while BHP is at about $132.18, according to LSEG data. Anglo American and Teck agreed to merge in September. This was the second largest merger ever for the mining sector. The deal was announced just over a month after BHP canceled a $49 Billion bid for Anglo. This deal would have increased the Australian miner’s copper holdings, which are seen as crucial for the transition towards greener energy. If the BHP/Anglo merger had been approved, the combined company would have become the largest copper producer in the world, with an annual production total of approximately 1.9 million tons. Anglo Teck is expected to be second in the world to BHP for combined annual production of copper.
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South Africa: G20 Summit outcome renews commitment towards multilateralism
Cyril Ramaphosa, the South African president, said that Sunday's Leaders' Declaration of this weekend's Group of 20 Summit reflected "a renewed commitment to multilateral co-operation". Ramaphosa was the host of the Johannesburg Summit and pushed the declaration through despite the objections of the United States which boycotted this event. Ramaphosa, who addressed the summit's final ceremony, said that the declaration demonstrated the world leaders' "shared objectives outweighed our differences". Donald Trump, the U.S. president, boycotted the summit on November 22-23 because of the allegations that have been widely discredited - the government in the country with a Black majority persecutes the white minority. SUMMIT COMME AFTER TENSIONS OVER UKRAINE AND CLIMATE Trump also rejected South Africa’s agenda, which promoted solidarity and helped developing nations adapt to weather disasters that are worsening, switch to clean energy and reduce their excessive debt costs. Ramaphosa, however, was able to secure consensus among the leaders at the summit - the first ever on the African continent - for a declaration that used the language the U.S. government has long opposed. The document of the summit stressed the importance of climate change, and the need for better adaptation. It praised ambitious targets to increase renewable energy, and noted the punishing debt service fees suffered by poor nations. The summit took place at a time when tensions were high between world powers due to the war in Ukraine by Russia and the fraught climate talks at COP30. After the Johannesburg summit, the U.S. will take over the rotating G20 Presidency. However, South Africa has rejected the U.S. offer to send a representative of the embassy in Trump's stead for the handover, citing it as a breach in protocol. The White House accused Ramaphosa for refusing to ensure a smooth transfer of the G20 presidency. (Reporting and writing by Sfundo parakozov, Alexander Winning, Olivia Kumwenda Mtambo and David Holmes).
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Erdogan praises a'meaningful deal' with Australia regarding hosting the COP31 Summit
The Turkish president Tayyip Erdoan praised the deal that was reached on Saturday with Australia to host the U.N. Climate Summit next year, calling it a significant achievement for multilateralism. After a long standoff, both countries have agreed that Turkey will be the host of the COP31 Summit in 2026 and Australia will lead the negotiations. Ankara, Canberra and both had bid to host the conference in 2022 and refused to back down since. Erdogan said at an event on Saturday night in Johannesburg, "Considering that multilateralism in recent years has lost ground, I consider this agreement we reached with Australia as meaningful." Anthony Albanese, the Australian Prime Minister, said on Sunday that Australia would be the "exclusive authority" in the negotiations and decision-making during the summit. Albanese, in a press release, said that the Pacific region will host a pre-COP special meeting to "draw attention to the existential threats climate change poses for the region". Australia was supported by a group of 18 Pacific Island countries, including many that are at risk due to rising sea levels. "Hundreds of bilateral meeting, climate-related visits to tens countries, days diplomatic negotiations." "And finally Turkey is COP31 president and host!," Turkey's Minister of Environment, Urbanisation and Climate Change, Murat Kurum posted late Saturday on X. "As Turkey we guarantee to organize a fair, balanced conference of parties, focusing on not only our region, but also fragile regions like the Pacific and Africa connecting the north and south," he said later in a statement made at the COP30 in Brazil. The annual COP Conference is the primary global forum to drive action on climate changes.
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Britain announces a critical minerals strategy in order to reduce reliance on external supply
The government announced that Britain has launched a new critical minerals strategy to reduce its dependence on foreign suppliers. By 2035, it aims to supply 10% of the domestic demand with UK-produced materials and 20% through recycling. The strategy, which is backed by new funding of up to 50 millions pounds, aims to ensure that no more than 60 percent of UK supply of any critical mineral will come from one country by 2035. In a statement, British Prime Minister Keir starmer stated that critical minerals are "the backbone of modern living and our national safety." He argued that increasing domestic production and recycling could help protect the economy and assist efforts to reduce living costs. The UK government stated that the country currently produces only 6% of their critical mineral requirements domestically. The plan aims to increase domestic extraction and processing with a focus on lithium and nickel. It wants to produce 50,000 tonnes or more of lithium in the UK before 2035. The UK faces an urgent demand for a long-term, secure supply of minerals such as copper, nickel and lithium, which are vital for electric vehicles, smartphones, and data centers, and are increasingly important for artificial intelligence. The British government has said that the demand for materials essential to Britain is increasing rapidly. By 2035, copper consumption will nearly double, and lithium demand will increase by 1,100%. China's strategy highlights its grip on vital mineral supplies. This leaves the sector vulnerable to price fluctuations, geopolitical tensions and sudden interruptions. Britain pointed out that China controls about 70% of rare-earth mining and 90% refining. This dominance puts countries like the UK at risk. In the early part of this year, Britain signed a deal to cooperate on minerals with Saudi Arabia. The aim was to improve supply chains, open doors for British companies, and attract new investment. (Reporting and editing by Chris Reese in Bengaluru, Mrinmay dey from Bengaluru)
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Australia PM announces formal agreement reached with Turkey for COP31 Climate Summit
Anthony Albanese, Australian Prime Minister, said that a formal agreement was reached on Sunday for Turkey to be the host of the COP31 Climate Summit in 2026. This confirms a document published at the COP30 climate summit in Brazil. In a statement released by Germany at the COP30 Summit this week, following a meeting of Western European and Others Group tasked to select the host for 2026, it was stated that Australia would lead the negotiations, while Turkey will take on the role. This announcement followed an earlier one that said a compromise was expected. The agreement ended a long-running dispute over the hosting of U.N. negotiations. Albanese stated in a press release that "a formal agreement was reached for COP31 in Antalya to be hosted and the Pacific's interest would be advanced by Australia taking on the role of the President of Negotiations leading up to the meeting as well as at the event." According to the statement, Australia would be the "exclusive authority" in guiding the decision-making at the summit. The statement also said that the Pacific region will host a pre-COP special meeting to "bring attention to the existential threats climate change poses for the region." The Pacific Islands Forum is a regional diplomatic bloc consisting of 18 countries that had supported Australia's bid. The rising seas threaten several Pacific island nations. Over the years, the annual COP has evolved from a diplomatic gathering into a massive trade show where the host country can promote their economic prospects. Sam McKeith, Sydney; Chris Reese, editing.
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Tunisians intensify protests against Saied and demand return to democracy
On Saturday, thousands of Tunisians marched through the capital in protest of "injustice" and "repression". They accused President Kais Said of consolidating his one-man regime by using the judiciary. This protest is part of a wave which has been sweeping Tunisia, affecting journalists, doctors and banks, as well as public transport systems. The closure of an environmental-friendly chemical plant was also demanded by thousands. They wore black to show their anger and sorrow over the transformation of Tunisia into "an open-air prison". The protesters held banners that read "Enough of repression", and "No terror, no fear, the streets are the people's". The rally united activists, NGOs, and fragmented political parties across the spectrum to show a rare unity against Saied. This shows the serious political and economic problems in Tunisia and is a challenge for Saied who took power by decree in 2021. The protesters shouted slogans like "We're suffocating!" The protesters chanted slogans such as "Enough with the tyranny! The people want to see the regime fall! ". Ezzedine hazgui, the father of Jawhar Ben Mbark (a politician who is currently in jail), said: "Saied turned the country into 'an open prison. We will never give up." Saied is accused by opposition parties, civil societies and journalists of using the police and judiciary to suppress criticism. Three prominent civil rights organizations announced last month that authorities had suspended their operations due to alleged foreign funding. Amnesty International said that the crackdown against rights groups had reached a critical level with 14 NGOs being targeted for arbitrary arrests and detentions as well as asset freezing, banking restrictions, and suspensions. Saied is accused by his opponents of destroying the independence and integrity of the judiciary. In 2022, he disbanded the Supreme Judicial Council (SJC) and fired dozens of judges - a move that rights groups and opposition groups condemned as a coup. The majority of opposition leaders, as well as dozens critics, are currently in prison. Saied says he has not become a dictator and is not using the judiciary to punish opponents. He claims he is purging Tunisia of all "traitors". (Reporting and editing by Kevin Liffey; Tarek Amara)
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Nine people are killed in Gaza by Israeli airstrikes, doctors say
Local health officials said that Israeli airstrikes on Gaza have killed nine people, and injured several others. This is a test of the fragile ceasefire agreement between Hamas, a militant Palestinian group, and Israel. The first attack, according to witnesses and medics, was on a car that was set alight in the densely-populated Rimal neighborhood. It wasn't immediately clear if the five victims were all passengers in the car, or if they included bystanders. Dozens rushed in to put out the fire and save the victims. Israeli air strikes on two houses near Deir Al-Balah and Nuseirat camps in central Gaza Strip occurred shortly after the attack on a car. At least four people were killed and several more injured. Israeli military claimed that a gunman crossed into Israeli territory in Gaza, exploiting "the humanitarian route in the area where humanitarian aid enters south Gaza", describing it as a "blatant breach of the ceasefire accord". In response, the military announced that it had struck targets in Gaza. Hamas officials in Gaza have rejected Israeli military allegations that the group is committed to the ceasefire. They said the claims were baseless, and an "excuse for killing". Israel and Hamas accuse each other repeatedly of violating a truce that was concluded over six weeks ago. Hamas stated in a press release earlier that day that Israel’s “escalating violations” put the responsibility on mediators, and the U.S., to confront Israel and maintain the ceasefire. The ceasefire of October 10, which ended the two-year Gaza War, has helped to ease the conflict and allowed hundreds of thousands to return to Gaza. Israel has withdrawn troops from city positions and increased aid flow. Violence has not stopped completely. Hamas is trying to assert itself, and many are worried about the de facto division of the territory where conditions are terrible. Palestinian health officials say Israeli forces killed 316 civilians in Gaza in attacks since the ceasefire. Israel claims that three soldiers were killed since the ceasefire was declared and that it has also attacked a number of fighters. Hamas militants attacked southern Israel in October 2023, killing 1,200 people - most of whom were civilians - and taking 251 hostages. Gaza's health officials say that Israel's retaliatory attack has killed over 69,700 Palestinians. Most of them are civilians. Hamas agreed to release all 20 hostages still alive in Gaza, in exchange for Israel's nearly 2,000 Palestinian wartime prisoners and detainees. Hamas has also agreed to exchange the bodies of 360 Palestinian militants who were killed during the war for the remains of 28 hostages. So far, the remains of 25 hostages has been handed over. According to the health ministry of the territory, Israel has returned 330 Palestinian bodies. (Reporting Nidal al-Mughrabi. Emily Rose contributed additional reporting from Jerusalem. Editing was done by Emelia Sithole Matarise and Topra Chopra.
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The EU objectors to the proposed deal prolong the COP30 discussions
Brazil's COP30 summit was forced to face a crucial day on Saturday after all-night discussions to break an impasse. The European Union had blocked a deal that it felt would not advance efforts to curb greenhouse gases, which are driving global climate changes. The two-week climate conference, billed as an opportunity to demonstrate that nations could still unite to combat climate change in the absence of the United States, was supposed to end on Friday. However the standoff forced the negotiators to work overtime. The Brazilian presidency tried to reach a compromise over a deal which most of the 200 countries attending the summit would accept but the EU deemed unbalanced. A deal must be approved by a majority. It was unlikely that any agreement would be reached to provide more details on the way and when nations will fulfill their commitments to move away from fossil fuels. The Arab Group countries had led the opposition. The only option left was to agree on a voluntary “Global Implementation Accelerator” in which countries can discuss how they could advance their efforts to reduce emissions. On Saturday, a draft of a part of the final agreement, as seen by, called for the global effort to triple the funding available to assist developing nations in adapting to climate change by the year 2035. The EU said it would "move past its comfort zone" in terms of finance for developing countries - but that only if the clauses on actions to reduce planet-warming emission were strengthened. Sources said the COP30 presidency was preparing a text addressing fossil-fuels. However, it was unclear if Brazil was going to issue the declaration or if it had been endorsed by other countries. The deal was not expected as part of a larger consensus after Brazil's earlier attempts to get all the countries to agree on a text regarding fossil fuels failed. Reporting by William James; Editing and editing by Kevin Liffey and Katy Daigle.
Brazil's Lula claims that'multilateralism wins' despite Trump's opposition
Brazil's president Luiz inacio Lula da Silva said that the G20 climate summit in South Africa, and the COP30 summit in Brazil, show that multilateralism remains alive despite attempts by U.S. Donald Trump to dismantle.
"Trump is trying to preach against multilateralism and to reinforce unilateralism. "I think multilateralism is going to win," he said to reporters at the Group of 20 summit in Johannesburg.
Lula said that Trump's absence from the summit "didn't really matter" to him.
"The G20 is still strong." "We need to put the decisions we made into action," he said. He added that he was hopeful the U.S. could host a successful G20 Summit in Miami, next year.
The world leaders met in Johannesburg on Saturday and adopted a statement that addressed the climate crisis, as well as other global challenges. This was done without the United States' input.
Separately Lula stated that he is very concerned about the U.S. Military buildup in Caribbean and intends to speak with Trump on it.
The military apparatus the United States placed in the Caribbean Sea... makes me very worried. I am worried and would prefer that nothing happen militarily in South America.
(source: Reuters)