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A new map shows hidden landscapes beneath Antarctica's ice sheets
Scientists have created the most detailed map of the terrain beneath the vast ice sheets covering Antarctica. They discovered an exuberant landscape with mountains, canyons valleys, and plains. Researchers used high-resolution satellite images and a technique called ice flow perturbation analysis to map the entire continent, including parts that had never been explored before. A better understanding of the subglacial landscape could help forecast the climate-related retreat in Antarctica's Ice Sheet. Research has shown that rough terrain, such as jagged mountaintops and hillsides, can slow the retreat. The study, published in the journal Science, was led by Robert Bingham, a glaciologist at the University of Edinburgh, Scotland. Researchers were able map subglacial terrains with unprecedented accuracy. They identified, for example, more than 30,000 previously unknown hills. These are defined as terrain protuberances that measure at least 50 meters (165 feet). Antarctica is about 40 percent larger than Europe and 50 percent larger than the United States. It also covers roughly half of Africa. In each case, these continents have a variety of landscapes, ranging from high mountain ranges to vast flat plains. Bingham stated that the hidden landscape of Antarctica contains these vast extremes. It isn't boring. The Antarctic Ice Sheet, the largest mass of ice on Earth, holds 70% of the freshwater in the world. The average thickness of the Antarctic Ice Sheet is about 1.3 miles (2 km) with a maximum thickness around 3 miles (4 km). Antarctica was not always covered in ice. The subglacial features were first sculpted by the continent before it acquired its icy cover more than 34 millions years ago, before they were further modified by the Dynamic Ice Sheet. Antarctica was once connected to South America, but it separated because of a plate tectonics process that involves the gradual movement on Earth's surface of continent-sized plates. The map showed a landscape with a variety of topographical features. "Perhaps the type of landscape many people may not be familiar with is 'plateaus divided by deep-carved valleys. This is a familiar landscape for Scots. It is also common in Scandinavia, northern Canada, and Greenland. The fact that our method has revealed a landscape across Antarctica that matches these landscapes so well gives us great confidence in the new map," Bingham explained. Researchers noted that the surface of Mars had been better mapped until now than the subglacial terrain in Antarctica. Scientists traditionally map the subglacial terrain using radar equipment mounted on planes or towed behind snowmobiles. According to Helen Ockenden, glaciologist and lead author at the Institut des Geosciences de l'Environnement, France. Ockenden stated that "these surveys often have gaps of up to 150 miles (93 km) and as much as 5 km (3.1miles) between them." Ockenden stated that the method used in the new study is "really exciting" because it allows us combine the mathematics behind how the ice moves with high-resolution observations of the surface of the ice. This allows us to determine what the landscape under the ice must look like across the entire continent, even in those survey gaps. We can now see how the various landscape features are connected. Researchers hope that the map will inform models used to predict future sea level rise, as well as forecasts made by the IPCC (the U.N. Intergovernmental Panel on Climate Change), which provides data to governments to help shape climate-related policy. Bingham said, "We now can also better identify where Antarctica requires more detailed field surveys and where it doesn't."
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The world shares are nearing record highs due to geopolitical tensions and AI optimism
As international tensions simmered on Friday, global stocks hovered around record highs. The?dollar also held close to a six-week peak as traders reduced bets about Federal Reserve interest rate reductions. Gold, the safe-haven, was little changed. Oil prices, however, rebounded after a previous decline, as U.S. president Donald Trump, who had earlier threatened intervention, adopted a "wait-and-see" attitude toward Iran. Since the beginning of the year, the markets have been focusing on international politics following Trump's actions in Venezuela and threats to takeover Greenland. Michael Brown, Senior Research Strategist at Pepperstone said: "Although we seem to have dialled down the likelihood of U.S. Intervention in the Middle East, I don't believe we can completely rule it out." US PUBLIC HOLIDAY CURBS MARKET ACTIVITY Brown stated that market participants might lack confidence ahead of Monday's Martin Luther King Jr. Day U.S. holiday. He said: "I would not be confident if I were running a long-risk book or short-crude for a three-day holiday with Middle East tensions this high." After reaching a record-high on Thursday, the pan-European Stoxx 600 Index was down 0.1%. The Stoxx 600 index is on track to finish the fifth week in a row in 'positive territory,' extending gains from the end of the year 2025 into this new year. The CAC 40 in France was down 0.7%, lagging behind regional peers due to political uncertainty. French government postponed Friday talks on its budget for 2026 because lawmakers failed to reach an agreement. U.S. Stock Futures point to a strong start on Wall Street. A week of earnings will conclude with State Street's results. In 'Asia', indexes dominated by tech in Taiwan and South 'Korea reached all-time highs as stellar results from Taiwanese semiconductor maker TSMC revived AI trade. U.S.-Taiwan trade agreement signed on Thursday reduces tariffs for many semiconductor exports and directs investment towards U.S. tech industry. It could also anger China. Tony Sycamore is a market analyst for IG. He said, "I think with the TSMC's report yesterday sounding pretty solid and optimistic, it provided a much needed shot in the arms for those AI names that have struggled on Wall Street over the past few months." The U.S. premarket Trading showed that semiconductor stocks were on course to extend their AI fueled rally, as Intel and Nvidia began to edge up. TRADERS WATCH FOR YEN INTERVENTION The yen has been the focus of attention on the currency markets since Japanese Finance Minister Satsuki Catayama stated that Tokyo would not exclude any options for countering excessive volatility in foreign exchange, including coordinated intervention with the United States. Her comments boosted the yen a little. After a report that stated some Bank of Japan policymakers are open to raising interest rates earlier than the markets expected, April is a possibility. Dollar was down by 0.3% last time at around 158yen. Investors are betting that a snap Japanese election could be held as early as next month. This would lead to a fiscal stimulus by Prime Minister Sanae Takaichi. Dollar hovers 'near a 6-week high following U.S. Economic releases this week, including data showing that the number of Americans who filed new unemployment benefit applications unexpectedly dropped last week. The dollar was at 99.21 against a basket currency, which is close to its peak of 99.493 on Thursday, its highest level since early December. The markets have priced in 20% of a Fed rate reduction in March. This is down from 50% about a month earlier. Prices on the oil market rose slightly, as supply risk remained a focus despite the decreasing likelihood of an American military strike against Iran. Brent crude and U.S. West Texas Intermediate traded at roughly 1.2% higher. Gold spot was stable at $4,611 per ounce and recouped some of its earlier losses. (Reporting from Sophie Kiderlin and Rae Wee, in London; editing by Dhara Ranasinghe & Andrew Heavens).
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What is the current status of Iran's nuclear facilities?
The White House reported that regional fears about a U.S. strike on Iran were eased when President Donald Trump stated that Tehran assured him protesters wouldn't be executed. However, he still has "all his options" on the table. Israel and the United States carried out their last major strike on Iran in June, targeting mainly key nuclear facilities. Which nuclear sites were hit? The three uranium enrichment plants in Iran - two at Natanz, and one hidden inside a mountain near Fordow – as well as the sprawling Isfahan complex that includes a number of?facilities?that are part of the nuclear energy cycle?and an underground storage area where diplomats claim much of Iran’s enriched Uranium is stored. How bad was the damage? Since the bombing of Natanz and Fordow, the U.N. Nuclear Watchdog has been denied access to these facilities. It was responsible for regular inspections. The exact condition of those facilities which were damaged is still unknown. In its quarterly report for Iran, published in November, the International Atomic Energy Agency stated that seven of the declared nuclear installations were "affected" by the'military attack' and thirteen were not. These reports don't elaborate on the damages. IAEA announced shortly after the bombings that the Pilot Fuel Enrichment Plant?at Natanz was destroyed. IAEA said that it is likely that the underground facilities at Natanz or Fordow have been at least severely damaged. The extent to which Iran's nuclear program has been weakened is a matter of debate. Trump has repeatedly claimed that Iran's nuclear facility was destroyed, but IAEA Director General Rafael Grossi stated in June that Iran can start enriching uranium on a smaller scale again within months. WHAT HAPPENED TO IRAN'S ENRICHED URANIUM? It's not clear. Iran is yet to report to the IAEA what happened to its destroyed facilities and enriched uranium stock despite the agency saying that it was urgent and long overdue. Only after that can the IAEA confirm it. "I think there's a general consensus that the material, in its entirety, is still there. It is important to verify the material. Grossi said in September that some could have been misplaced. Diplomats claim that little has changed since then. Grossi said, "We have no indications which would lead us into believing that there was a major movement of materials." Iran had been enriching uranium up to 60% purity. This was a small step away from the 90% weapons grade. According to the IAEA, Iran had 440.9kg of uranium at that level when bombing began. According to IAEA standards, that is enough uranium in theory for 10 nuclear bombs, if further refined. The uranium is also enriched at lower levels. The IAEA doesn't report where Iran stores this material. Diplomats report that the damage to one key underground storage facility at Isfahan is limited to strikes to the tunnel leading to it. WHAT CONCERNS REMAINS? The United States and Israel cited the fact that Iran was too close to producing a nuclear bomb as a reason for their bombings. Uranium, when enriched to weapons grade can be used as the core for a nuclear weapon. The uranium can be used as fuel for nuclear power plants, depending on the level of enrichment. Western powers claim that there is no civil justification to justify Iran's enrichment?to a fissile-level so high, and IAEA says it is a serious concern. No other country in the world has ever done this without producing nuclear weapons. Before the attacks, the IAEA had said that it did not have any credible evidence of a coordinated programme for nuclear weapons in Iran. There was also much discussion about the time it would take Iran to build a nuclear bomb if they chose to. Tehran denies ever seeking nuclear weapons. It has the right, as a signatory to the Nuclear Non-Proliferation Treaty (NPT), to enrich for research or nuclear power, so long as the process is not weaponised. Unknown numbers of centrifuges, machines that enrich uranium, are stored in unknown locations by Iran. Iran's enriched uranium is now unaccounted for. This could lead to the country secretly combining it with weapons-grade uranium in violation of NPT obligations. It appears that the cat-and-mouse game of hunting for Iran's stockpile of enriched uranium will likely continue for some time. Mark Heinrich edited this article.
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Gold prices fall as US data and easing geopolitical tensions dampen momentum
Gold prices extended losses ?from the previous session on Friday, as stronger-than-expected U.S. economic data and ?easing ?geopolitical tensions in Iran hampered bullion's bullish momentum. By 1217 GMT, spot gold had fallen 0.1% to $4610.86 an ounce. The metal is expected to gain 2% in a week after reaching a record high of $4,642.72 Wednesday. U.S. Gold futures for delivery in February edged down 0.2% to $4,615. Carsten Menke, Julius Baer analyst, said: "There used to be a lot of momentum in the gold market. It seems that it has waned a bit at the moment ....the recent economic news out of the U.S. is creating more headwinds than tailwinds, and this can be seen?in the slightly stronger U.S. Dollar." The U.S. Dollar hovered at a six-week peak on the back of positive economic news on Thursday. Initial jobless claims fell 9,000 to 198,000 seasonally adjusted last week, which was below economists' expectations of 215,000. The greenback price of bullion is more expensive to overseas buyers due to the stronger dollar. Geopolitically, Iranians contacted by the media on Wednesday and Friday said that protests had abated since Monday. Gold is a safe-haven during periods of economic and geopolitical uncertainty. Gold demand in India was muted this week, as prices reached record highs, reducing the appeal of retail purchases. In China, bullion trades at a premium as demand remains steady ahead of the Lunar New Year. Spot silver fell 1.6% to $90.82 an ounce. However, it was on track for a weekly increase of more than 13% following its all-time high price of $93.57 the previous session. "The silver price seemed to be 'determined to reach $100 per ounce before slipping back down ....speculative traders are keeping an eye out for that level, even though it wouldn't be sustainable on a medium- to long-term basis," Menke said. Spot platinum fell 3.2% to $2.332.70 an ounce and was expected to rise more than 2.7% this week. Palladium fell 2.6%, to $1,754.35 an ounce. It had hit a low of more than a week earlier. The metal was heading for a loss of around 3.5% on a weekly basis.
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Sources say that the premium on Japan Q1 aluminum has more than doubled to $195/T due to fears about a shortage.
Five sources involved in the price talks confirmed that the premium for aluminum shipments to "Japanese" buyers for the period January to March is $195 per ton. This represents a 127% increase from the previous quarter and reflects fears about a tight supply. Early December saw the latest round of quarterly price negotiations between Japanese buyers, Rio Tinto and South32. Normally, talks end before the beginning of the next quarter. However, this round lasted into the new calendar year because there was a large gap between the buyers and sellers. The premium paid for the January-March quarter is significantly higher than the $86/ton paid during the October-December period and represents?the first increase in a calendar year. The premium was below the second-round producers' offers?of $210 to 225 per ton but above some initial offers?of $190 to 203 per ton. Japan is the largest Asian importer for premiums and light metals For primary metal shipments, it agrees to each quarter pay over the London Metal Exchange cash price that is the benchmark for the area. Sources said that the premium increase reflects the concern over a tighter supply. This is especially true after South32 decided to mothball Mozal Aluminium Smelter in Mozambique, in March. They had failed to reach an agreement on power supply with the government. A source from a trading firm said that despite the weak demand in Japan spot premiums had risen due to supply concerns to $170 per ton. We said that we would not be able to ship metal into Asia until premiums were increased. This was after hearing about the Mozal production stop. The source said that "buyers resisted the prices of $200, so we settled on $190s to avoid lengthy negotiations." Sources declined to identify themselves due to the sensitive nature of the issue. (Reporting and editing by Joe Bavier, Susan Fenton and Yuka Obayashi)
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Mali's gold production plunges by 23% after Barrick halts operations and tougher rules are implemented
Mali's industrial?gold?output declined 22.9% in the year 2025 due to the long?suspension? of Barrick Mining operations because of a dispute about tougher mining regulations, according to preliminary figures released by the West African nation's Mines Ministry. Mali is one of Africa's biggest gold producers. It has been pushing for reforms to increase the value of this sector. This was enshrined into a mining code that was introduced in 2023. The government announced in December that a sweeping audit had led to the recovery by mining companies of arrears amounting to 761 billion CFA francs (US$1.2 billion). The tougher rules ruffled some miners, which led to a two-year standoff between Barrick and its massive Loulo Gounkoto 'complex.' A deal was finally struck late last year after the Canadian company placed Loulo Gounkoto under temporary administration. The two-year standoff affected the sector's sentiment and disrupted production across the industry. This offset gains from new entrants to the mining industry and the expansion of small-scale industrial miners, according the data seen on late Thursday. The data shows that industrial production dropped to 42.2 tons from 54.8 tons when updated in 2024. Mali's industrial output of gold peaked at 66.48 tonnes in 2023. Mali's largest gold producer, Loulo-Gounkoto, reopened under an appointed state administrator in July. However, persistent logistical problems limited output to just 5.5 tonnes in 2025. This is down from 22.5 tons the year before. B2Gold surpassed Barrick as Mali's top gold producer by 2025. Allied Gold, boosted 'by its new large mine Korali-Sud along with its Sadiola Mine, ranked second, followed by Barrick -with 5.5 tons. The artisanal gold production remained at six tons in 2020. Total national production in 2025 was 48.2 tonnes, which is 22.7% less than the original 54-ton government forecast.
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China and Russia hold talks following a halt in power supplies
Kommersant reported that China had stopped importing electric power from Russia due to high prices. Russia responded by saying it was willing to resume sales, and discussions were underway. The Chinese government did not respond immediately to a comment request. The Russian energy ministry said that the highest priority was to meet the rising demand for electricity in Russia's Far East, but it could resume supplying to China depending on terms agreed. It said that "Russia could resume?electricity?exports into China" if Beijing made a similar request and mutually beneficial terms of cooperation were reached. The statement did not specify whether China or Russia was responsible for the decision to stop supply. INTERRAO SAYS CHINESE?CONTRACTS ARE VALID InterRAO, the Russian supplier of electricity to China, confirmed that talks were taking place, but neither party planned to terminate their agreement. The statement said that "at present, the parties actively explore opportunities for electricity trading." The Chinese side with whom we are constantly in contact has not also expressed an interest in ending the contract. The Kommersant newspaper attributed the stoppage to higher Russian power prices compared with China. InterRAO provides power to China?under a contract for a long time via interstate transmission in the Far East. Signed in 2012, the contract provides for the delivery of approximately 100 billion kilowatt hours?to China during a 25-year period. Transmission capacity of interstate cables connecting China's northeastern regions with the Far Eastern Power System allows deliveries up to 7 billion Kilowatt-hours annually. After a record-breaking export of 4.6 billion kilowatt hours in 2022 Russia has reduced supplies to China due to system constraints, and a shortage of power capacity in the Far East where electricity demand is increasing. Exports to China dropped from 3.1 billion kilowatt hours in 2023 to just 0.9 billion kilowatt hours in 2024. They fell further in 2024 to 0.9 billion KWH. In 2025, the decline continued: only 0.3 billion kilowatt hours were delivered to China in the first nine-month period. (Reporting Anastasia Lyrchikova; additional reporting Colleen Waye in Beijing; writing Vladimir Soldatkin, editing Barbara Lewis.)
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Copper prices fall to a one-week low due to profit-taking, China demand and concerns
The copper price fell to a new low of one week on Friday, mainly due to profit-taking following a rally driven by speculative fund managers. Meanwhile,?demand for physical copper in China was muted. Benchmark?three month copper on the London Metal Exchange fell 1.2% to $12,955 per metric tonne by 1100 GMT, after reaching its lowest level since January 9 at $12,774.5. Metal used in construction and power is down 5% from a record high of $13,407, reached on Wednesday. China's securities regulator, which is the world's largest metals consumer, has vowed to crackdown on excessive speculation following this week's near 10-year highs in its benchmark stock index. The Shanghai Futures Exchange's most-traded copper contract closed the daytime trading down 2.3%?at 100 770 yuan (14,461.20 dollars) per ton. Metals have been under pressure at different points this week during the Shanghai day session, as China has reduced its risk and authorities in China are trying to curb recent retail "frenzy", said Marex metals analyst Alastair Munro. Yangshan Copper Premium - a sign that China has been suppressed by high copper prices - The price of a ton of copper fell by 16% to $32 on Friday, its lowest level since December 1. The copper inventories of ShFE-monitored storage facilities rose by 18% to 213,515 tonnes this week, the highest level since April. Aluminium, lead, and tin also saw a large increase. Copper prices rose by?20% over the last two months due to concerns about the tightening of availability of the metal as a result?of mine supply disruptions, and stock flow to the U.S. in anticipation?of possible tariffs. Technically, the closest support level for LME Copper is the?21 day moving average, which stands at $12,537. Other LME metals include aluminium, which fell 1%, to $3.136 per ton. Zinc also dropped 1.9%, to $3.253, while lead fell 1.5%, to $2.068.50. Tin slid by 3.5%, to $49.795; and nickel, down 2.5%, to $18,110. (Reporting and editing by David Goodman, Amy Lv Additional reporting by Polina Devitt)
China and Russia hold talks following a halt in power supplies
China has halted imports of Russian electric power, the?Kommersant?newspaper reported Friday. Citing sources who are familiar with the situation, and citing high prices, Russia stated that it was prepared to resume sales, and talks were in progress.
The Chinese government did not respond immediately to a comment request.
The Russian energy ministry said that the first priority was to meet the rising demand for electricity in Russia's Far East but it could resume supplying to China if the terms agreed.
It said that "Russia could resume electricity exports from China if Beijing makes a similar request and mutually beneficial terms of cooperation are agreed upon." The statement did not specify whether China or Russia was responsible for the decision to stop supply.
INTERRAO?SAYS CONTRACT IN CHINESE IS VALID
InterRAO, the Russian supplier of electricity to China, said that talks were in progress, but neither party intended to cancel their contract.
The statement said that "at present, the parties actively explore opportunities for electricity trading." The Chinese side with whom we are constantly in contact has not also expressed an interest in ending the contract.
The Kommersant newspaper attributed the stoppage to the higher prices of power in Russia as compared to China's domestic rates.
InterRAO provides power to China via long-term contracts on interstate transmission systems in the Far East.
Signed in 2012, the contract provides for the delivery to China of approximately 100?billion Kilowatt-hours over 25 years.
Transmission capacity of interstate cables connecting China's northeastern regions with the Far Eastern power system allows deliveries up to 7 billion Kilowatt-hours annually.
After a record 4.6 billion kilowatt hours of exports to China in 2022 due to system constraints, and a shortage of power capacity in the Far East where electricity demand has grown, Russia is reducing its supplies.
Exports to China dropped to 3.1 billion Kilowatt-hours in?2023. By 2024, they had fallen to 0.9 billion Kilowatt-hours.
In 2025, the decline continued: only 0.3 billion kilowatt hours were delivered to China in the first nine-month period. (Reporting Anastasia Lyrchikova; additional reporting Colleen Waye in Beijing; writing Vladimir Soldatkin, editing Barbara Lewis.)
(source: Reuters)