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USA Rare Earth acquires Brazil's Serra Verde Serra Verde for $2.8 Billion
USA Rare Earth announced on Monday that it would acquire Brazilian 'rare earths' miner Serra Verde, for $2.8 billion, in cash and shares. This is another step in the company's broader strategy to create a unified operation encompassing mining, processing, and magnet -making. A statement stated that the U.S. firm will pay $300 in cash for the transaction and 126.9 in newly-issued shares. The deal is expected to be completed in the third quarter 2026. Serra Verde said it also entered into a 15 year agreement on Monday to supply 100% its production in the initial phase of the mine to a special-purpose vehicle funded by the U.S. Government and private sources. USA 'Rare Earth signed a $1.6billion debt-and equity funding package in January with the U.S. Government, while privately-held Serra Verde inked a $565m financing agreement with Washington in Feb. Barbara Humpton, CEO of USA Rare Earth, said that the Pela Ema Mine in Serra Verde is a unique asset. It's also the only mine outside Asia that can supply all four magnetic rare Earths on a large scale. MINE RICH in HEAVY RARE ARTHENS The forecast shortages of heavy rare Earths such as dysprosium, terbium, and terbium may be a major obstacle to the West's efforts to develop domestic supply chains for rare earths and permanent magnetics. Serra Verde is a mine that has a high concentration of heavy rare earths. This makes it more attractive than other Western deposits. The company has yet to reach its full production, which will be approximately 6,500 metric tons of rare earth oxides per year by 2027. Serra Verde's owners are private equity groups Denham Capital and Energy and Minerals Group, led by Mick Davis, the former head of Xstrata. USA Rare Earth shares fell by 8% before the market opened, but they are up 68% since their last closing. (Reporting and editing by Toby Chopra & Kirby Donovan; Eric Onstad)
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Dutch government offers tax incentives for increasing fuel prices
The Dutch government announced temporary tax breaks on Monday to compensate for the rising cost of fuel. It also said it was preparing a broader package of measures in case energy prices worsen. The government allocated around 1 billion euro ($1.2 billion) to temporary tax relief measures for commuters and truck drivers, but did not lower fuel taxes as many of them requested. These measures include targeted support to lower-income people with energy bills and a?support for homeowners to reduce their consumption. The government stated that there are no immediate fuel shortages as European oil, jet fuel and diesel supplies are sufficient to meet the?demand up to one year. The government confirmed earlier reports that it would activate the first stage of an 'energy crisis plan', where energy markets will be closely monitored and further measures prepared. The government is now implementing the four-stage plan that was created to deal with the upcoming energy crisis triggered by Russia’s invasion of Ukraine.
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On the U.S. waiver of oil volume, the Kremlin says that you cannot ignore Russia.
When asked about the waiver of U.S. sanctions on some Russia oil exports on Monday, the Kremlin said that Russia is a responsible player on global markets for energy and it's hard to ignore its export volumes. Donald Trump's administration renewed on Friday a waiver that allows countries to purchase sanctioned Russian crude oil at sea for about a week, despite lawmakers accusing the government of being too lenient with Moscow while?its war against Ukraine continues. Russia is the world’s?third largest oil producer and?the second biggest crude exporter. "Russia is a very responsible and important player on the global energy market." "The markets are experiencing difficult times right now," Kremlin spokesperson Dmitry Peskov said in a daily press conference. He said, "It is hard to ignore or not take into account Russian volumes." This move is part of the administration's efforts to control global energy costs, which have risen during the U.S. Israel war against Iran. The move came after Asian countries, who were suffering from the global energy crisis, asked Washington to allow alternative supplies to reach the markets. Kirill Dmitriev, special envoy to Russian President Vladimir Putin, said that an extension of the U.S. waiver would affect another 100,000,000 barrels?of Russian oil. This will bring the total volume affected with both waivers up to 200,000,000 barrels. (Reporting and Writing by Anastasia Lyrchikova; Editing by Vladimir Soldatkin/Guy Faulconbridge).
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Gold falls as tensions between the US and Iran increase due to inflation woes, a stronger dollar and rising US interest rates
Gold prices dropped on Monday due to the stronger U.S. dollar and renewed inflation concerns?after a second closure of the Strait?of?Hormuz?pushed oil prices higher. As of 0930 GMT spot gold was down 0.7% to $4,792.89 an ounce after reaching its lowest level since April 13 earlier in session. U.S. Gold Futures for June Delivery fell by 1.4% to $4.812.60. Oil's rise after the weekend chaos surrounding the Strait?Hormuz ensures that inflation risks remain tangible, offsetting the allure of gold as a safe haven asset. Han Tan, chief analyst at Bybit, said that the precious metal has taken a backseat in the current conflict to the dollar as the preferred safe-haven. Spot gold prices are expected to remain at these low levels, below $5,000, unless there is a sustained and meaningful de-escalation of the conflict. The U.S. announced on Sunday that it had seized an Iranian cargo ship which tried to break its blockade. Iran responded by saying it would retaliate. This has heightened fears of a return of hostilities. Stock futures dropped and oil prices rose more than 6% as tensions in the Middle East prevented shipping into and out of Gulf and kept investors on edge. Dollar index rose, increasing the price of greenback bullion for holders of other currencies. Benchmark 10-year U.S. Treasury Yields increased, increasing the cost of holding non-yielding gold. Gold is considered a safe haven and inflation hedge during times of geopolitical and economic uncertainty. However, the rising costs associated with the war in Iran has stoked inflation fears and pushed yellow'metal down on the expectation that the U.S. Fed Reserve will tighten monetary policy. Gold's recent recovery is not over yet, as long as the structural drivers of demand continue. "Central bank buying, currency debasement and de-dollarisation trends have faded, but they are still alive and can help support gold," said Nikos tzabouras senior analyst at Jefferies owned Tradu.com. Silver spot fell by 1.8%, to $79.39 an ounce. Platinum dropped 1.4%, to $2,073.75, while palladium declined 1.1%, to $1,542.25. (Reporting by Anjana Anil in Bengaluru; Editing by Kevin Liffey)
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As Mideast ceasefire looms, oil prices jump and stocks fall
On Monday, oil prices rose and global equity markets declined as investors became increasingly worried that the ceasefire agreement between the U.S.A. and Iran may not hold and tensions in the Strait of Hormuz increased. Brent crude futures rose 6% to $95.85 per barrel. MSCI's global?share index fell around 0.3% last week, with Europe's STOXX600 down by 1.1%. This was after Asia's equity markets?stood up to risks and advanced. S&P futures were down 0.65%. On Monday, concerns grew that the ceasefire agreement between the United States of America and Iran may not last after the U.S. announced that it had seized an Iranian cargo vessel that attempted to circumvent its blockade. Iran also vowed retaliation. Kpler data showed that more than 20 vessels carrying oil products, metals, gas and fertiliser passed through the strait on Saturday. This was the busiest day for this chokepoint since March 1. Kpler data showed, however, that on Saturday more than 20 vessels carrying metals, oil, gas, and fertiliser crossed the Strait of Hormuz, making it the busiest time for the chokepoint in the last year. Markets cling to any news that could indicate a certain outcome, which is why there are such large swings. Sandra Horsfield is an economist with Investec. She said that although markets had pulled back from Friday's announcement that Iran would open the Strait of Hormuz, those moves hadn't been "fully" retraced. This suggests that there is still some "improved feeling". Keir starmer, British prime minister, is scheduled to speak in?Parliament Monday. He has been called for resignation over his handling of Peter Mandelson's appointment as U.S. Ambassador despite the fact that he failed a thorough vetting procedure. SEEK ANSWERS TO PEACE TALKS; CENTER YOUR VISION ON HORMUZ The future of negotiations between Iran and the U.S. seemed to be uncertain. Derren Nathan is the head of equity research for Hargreaves Lansdown. He said that more volatility was likely to follow. Iran's?state media agency reported that Iran had rejected any new peace talks with America, just hours after Donald Trump, the U.S. president, said he would send envoys to Pakistan for talks and launch new attacks on Iran if it did not accept his terms. Horsfield, from Investec, said: "We thought that there would be some'swings and roundsabouts' within this rather than a linear path to an end result." The yield on benchmark 10-year Treasuries increased 2.6 basis points, to 4.2697%. Meanwhile, the yield on German government 10-year bonds rose by 3.6 basis points, to 3.0015%. The dollar, which has been sold for most of the last two weeks, has largely stabilized and is now trading at $1.1761 to the euro. Wall Street indexes reached record highs last Friday, fueled by expectations for robust first-quarter results, with the majority of them coming this week. The week will also bring British inflation figures, U.S. Retail Sales and European Purchasing managers' Index figures. However, the markets' main focus is likely to be on Gulf Shipping. Bob Savage is the head of BNY's markets macro strategy. He said that "the?critical barometer of risk" was the number of ships crossing through the Strait of Hormuz. The immediate focus of the talks is oil and other shortages that are driving inflation.
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Sabanci, a Turkish company, leaves Akcansa Cimento & CarrefourSA
Sabanci Holding, a Turkish conglomerate, announced that it would sell the remaining shares of cement maker Akcansa Cimento and exit retailer CarrefourSA. Analysts say the conglomerate is looking to streamline operations by selling assets with low margins of profit. According to a Monday filing, Heidelberg Materials purchased Sabanci's 39.72% share in Akcansa. The deal valued the company at $1.1billion on an enterprise-value basis. The transaction value wasn't disclosed. The deal will see Heidelberg Materials double its stake in?Akcansa from 69.44% to 79.44%. Akcansa has three cement plants and 26 ready-mixed?plants. It also operates five aggregate quarries, and five terminals for cement in five ports located along the Marmara Sea, Aegean Sea and Black Sea coasts of Turkey. Heidelberg Materials stated that the strategic advantages of Turkey's geographical position are linked to the future demand for infrastructure and reconstruction in the neighboring regions. This includes the Middle East and Black Sea. In the morning, Akcansa Cimento's shares rose more than 2% while Sabanci's fell 2%. Sabanci announced after the market closed on Friday it was leaving CarrefourSA. This is a Turkish grocery chain that it co-founded with France’s Carrefour. Yeni Magazacilik owned by the Aydin Family will purchase Sabanci's 57.12% share as well as Carrefour Nederland's 32.16% stake. The financial terms were not disclosed. CarrefourSA shares have fallen by more than 9%. Yeni Magazacilik owns A101, a discount retailer. (Reporting and editing by Daren Butler, Edwina Gibbs, and Mirac Eren dereli)
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Gold drops on stronger dollar amid renewed US/Iran tensions
As the dollar strengthened, gold prices fell, and oil prices rose, as news spread that 'the Strait of Hormuz was closed again. This sparked inflation fears. As of 0730 GMT spot gold was down 0.7% to $4,792.89 an ounce after reaching its lowest level since April 13 earlier in session. U.S. Gold Futures for June Delivery fell by 1.4% to $4.812.20. Ilya 'Spivak is the head of global macro at Tastylive. He said that gold prices were lower today after the U.S. - Iran war ceasefire, which markets celebrated last Monday, appeared to have broken down. "This has brought back the familiar 'war-trade' dynamics that we have seen since the start of the conflict. Crude oil prices rose, which led to an increase in inflation expectations and a rise in both yields as well as the U.S. dollar. dollar." Dollar?index increased, making greenback priced bullion more costly for holders of other currencies. Benchmark yields on 10-year U.S. Treasury bonds increased by 0.6%. Stock markets shook and oil prices spiked, as tensions in the Middle East pushed shipping into the Gulf to the bare minimum. The U.S. seized a cargo ship from Iran that was trying to circumvent its blockade, and Iran has said that it will retaliate. This raises the possibility that even the two-day ceasefire that is supposed to be in place between the two nations may not last. Tehran has said that it will not take part in the second round of talks which the U.S. hoped to start before Tuesday's ceasefire. Prices of gold have dropped?about 8 percent since U.S. and Israeli strikes against Iran were launched in late February. This is due to fears that higher energy costs could cause inflation and raise global interest rates. Gold is considered a hedge against inflation, but higher interest rates reduce demand for this non-yielding investment. Gold demand at one of India's key buying festivals was muted on Sunday as record prices curbed jewelry purchases. This offset a modest increase in investment demand. (Reporting by Noel John in Bengaluru; Editing by Subhranshu Sahu, Mrigank Dhaniwala and Janane Venkatraman) (Reporting and editing by Subhranshu Dhaniwala, Mrigank Dahniwala, and Janane Vekatraman in Bengaluru)
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Russia values its seized stake in UGC gold producer at $1.9 billion before the auction in May
The Russian Property Agency said that it valued a 67.2% stake in the gold producer UGC for 140.4 billion roubles (1.85 billion), ahead of the auction to sell this stake. This will take place at the beginning of May. A Russian court ruled in July 2025 that the majority share owned by Konstantin Strukov, an entrepreneur, should be transferred to state. This was a part of a broader pattern of nationalisations by Russian companies, and Western firms leaving Russia. Last year, the Moscow law firm NSP estimated that the authorities had confiscated assets worth $50 billion since Ukraine's conflict began. Last October, the central bank stated that the state violated the rights of minority shareholders by failing to make an offer after the seizure as required by law. After the sale, the new owner is expected to make a buyout offer. The auction was originally scheduled to take place last year, but was postponed as the gold price rose and the state sought a higher price. The stake is worth $1.6 billion at current market prices.
Tsunami warning issued after major 7.5-magnitude earthquake off Japan
Authorities urged residents to stay away from coastal areas where a tsunami wave of up to three metres (9.84 feet) was expected. According to the Japan Meteorological Agency, the epicentre of the tremor was in the Pacific Ocean. It measured 10 km deep. Authorities said that the biggest waves would be expected in Iwate and Aomori prefectures as well as?Hokkaido.
Sanae Takaichi, the Prime Minister of Japan, told reporters that the government has'set up an emergency taskforce and encouraged citizens to evacuate from the affected areas.
NHK broadcasted a picture of ships leaving Hachinohe Port in Hokkaido as a warning 'Tsunami'. Evacuate!' The screen flashed "Evacate!"
Kyodo reported that bullet?trains in Aomori?at the northern end of Japan's main Honshu Island were stopped due to the earthquakes.
The earthquake measured a 'higher 5' on Japan’s seismic intensity level -- powerful enough to make people move around difficult. Unreinforced concrete block walls have collapsed in many cases.
Japan is one the most earthquake-prone nations in the world, with an earthquake occurring every five minutes. Japan is located in the "Ring of Fire", a ring of volcanoes, oceanic trenches, and other features that partially surround the 'Pacific Basin. It accounts for 20% of all earthquakes of magnitude 6 or higher.
Hokkaido Electric Power Co. and Tohoku Electric Power Co. have several nuclear power plants that are currently shut down in the Tohoku and Hokkaido regions. Tohoku Electric Power Co said it was assessing the effects of the earthquake and the tsunami at its Onagawa Nuclear Power Plant. (Reporting and writing by Tokyo Newsroom, Chang-Ran kim and John Geddie. Editing by Kate Mayberry).
(source: Reuters)