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Israeli forces kill 2 Palestinian teenagers in West Bank violence
Residents said that Israeli forces killed two Palestinian teens during an overnight raid in a town near Ramallah, in the Israeli-occupied West Bank. Violence is escalating in the area, with more and more deaths. According to the Palestinian Authority, which exercises limited autonomy in the West Bank, the Palestinian Authority's health ministry, forces shot Sami Ibrahim Mashaikha (16) and Amr Khaled al-Marboua (18) in Kfar-Aqab. Both died later from their injuries. According to WAFA, the Palestinian news agency, Israeli forces raided Kfar Aqab over night. They deployed forces on the streets and atop the buildings of the town before opening fire. Israel Police released a statement in which it stated that during an operation conducted in Kfar Aqab, its forces had opened fire on four individuals who, according to the police, posed a direct threat. Medical teams evacuated the individuals, according to police. According to the police, this operation was directed at "hostile elements" who were trying to cause violence and harm to security forces. During the operation, police were attacked by people throwing stones and using fireworks. Police reported that heavy gunfire was heard as well, but its source could not be identified. The West Bank is seeing increasing violence despite the ceasefire that was reached on October 10. In the last two years, Palestinians have been subjected to tighter military restrictions that limit their freedom of mobility. Israeli settlers are also increasingly attacking Palestinians. Residents in Huwara, Abu Falah and nearby communities reported that overnight, settlers set fire to property, burning it, near Nablus. Israeli soldiers have responded to reports that Israelis were throwing rocks at Palestinian vehicles in Huwara and igniting property. The military released a statement saying that Israeli soldiers searched the area and found no suspects. Benjamin Netanyahu, the Prime Minister, said that he will meet with cabinet members to ensure Israelis who are involved in attacks against Palestinians, are brought to trial. He called those responsible for such acts a "small extremist group". In recent months, videos widely shared on social networks showed dozens of settlers attacking Palestinian West Bank Communities, sometimes with wooden clubs, and other times guns. According to a count, Israeli forces have so far killed six Palestinians under 18 in the West Bank this month. The military reported that in one incident near Ramallah where the Palestinian Authority has its headquarters, two 16-year old youths hurled petrol-bombs onto a road for civilians. The claim could not be independently verified. The military released an unreliable nine-second video, which it claimed showed the teenagers throwing petrol bombs. The military refused to release the entire video or to answer questions regarding why the soldier opened fire instead of attempting to arrest the two teenagers. In a stabbing and car-ramming attack on Tuesday in the West Bank by Palestinian attackers, an Israeli was killed and three others were injured. The Israeli soldiers then shot and killed them. Netanyahu called the incident an attack by terrorists. No one has claimed responsibility for the attack. (Written by Alexander Cornwell, edited by Mark Heinrich.
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Andy Home: Aluminum scrap is the new front in the war on critical minerals.
The competition for essential minerals has now reached the lowest part of the metal supply chain. Maros SEFCIOVIC, EU Trade chief, says that aluminium scrap is a strategic commodity. Over a million tons of aluminium scrap is exported from the EU every year. Sefcovic, the European Commission's Director of Communications and Public Affairs, described this as "a measure that is balanced" in order to keep more recyclable materials in Europe. The industry association European Aluminium blames the United States for the price differential created by the country's import duties, which is causing more European scraps to be exported to the U.S. The Aluminum Association, a U.S. trade group, is also concerned about the leakage of scrap metal. However, it is blaming China and calling for "smart export controls". The global scrap war has begun. A STRATEGIC PRODUCT Scrap metal is of strategic importance to European policymakers, as it lies at the core of the industrial policy for the EU, and represents the intersection where circularity intersects with decarbonisation, strategic autonomy, and the convergence between the three. Europe has set an ambitious target to recycle 25% of its critical mineral demand by 2030. Aluminum is already available. Metal is infinitely recyclable, and remelting only requires five percent the energy required to produce virgin metal. This means that carbon footprints are much smaller. Scrap has become a more important feedstock in recent years, as the high energy costs have forced many aluminium smelters to close. The annual primary aluminum production in the region has dropped by a quarter compared to 2011. European Aluminium estimates that around 15% of recycling furnaces in the EU are idle due to lack of feed. The exemption for aluminum scrap from U.S. tariffs on imports of primary metals and semi-manufactured goods was doubled by U.S. president Donald Trump to 50% in June. The association warns that the arbitrage window created by the U.S. President Donald Trump in June is increasing Europe's scrap leakage. The U.S. import data through July shows that shipments to the U.S. have increased, but only from a low base. Mexico and Canada are the two largest scrap suppliers to the U.S., with 53% and 30% of total imports. There is no doubt about the trend. Consultancy Project Blue calculated that European exports to non-EU countries of scrap aluminium rose at an average compound growth rate of 8,9% between 2018-2024. A GRADED Question It depends on the type of scrap you're using. Due to a decline in domestic recycling and dismantling capacity, Europe and the United States export low-grade end-of life scrap. China and India are the two biggest buyers of raw materials. However, China's crackdown in 2020 on low-grade imports created a loop whereby scrap is upgraded and then sent to Chinese recyclers. The European Commission's promise of no blanket export ban acknowledges that Europe is currently unable to process all grades of aluminum scrap that it produces. The names "Zorba", "Twitch", and other exotic scrap words like these may sound exotic, but they are nothing more than bales of mixed, shredded material that is usually from vehicles at the end of their lifecycle. It is difficult and costly to process them, which is why they are traded with countries that recycle them. Aluminum Association calls for immediate bans on exports of high-purity scrap, such as beverage cans. The United States has a constant trade deficit of one million tons of aluminium scrap with the rest the world. India is the largest recipient of U.S. scrap aluminium, followed by Thailand, Malaysia and China. CHINA SCRAP PIVOTS ITS ENERGY China is the West’s main competitor when it comes aluminium scrap. China's recyclable aluminum imports have increased at a rapid pace since the ban on "foreign waste" in 2020 was quickly reversed, under pressure from China’s recycling industry. The Chinese demand for aluminum scrap will continue to increase in the future. China's primary smelter industry is operating at close to Beijing mandated capacity limits, which means more scrap must be recycled. The official goal is to increase the aluminium recycling capacity in 2027 to 15 million tonnes per year. This will create a large potential market for recyclable materials from around the world. Both Europeans and Americans are at risk because China is preparing to dominate the secondary aluminum sector, just as it already has done in the primary. Where there's mudk, there's brass (and aluminum) The rise of scrap protectionism is a sign of how important metals recycling in the West has become. Recycling is a great way to reduce the West's dependence on imports. On both sides of Atlantic, it seems inevitable that some type of aluminium scrap will be subject to export restrictions. The Aluminum Association admits that part of the solution for the West is to make the public aware of the value of scrap. The United States will still have one of the lowest recycling rates for aluminium beverage cans in 2023. This is compared to a global average of 75%. This is a lot high-quality metal ready for milling that's being thrown out. The need for trade measures is inevitable, but the solution to scrap availability may be closer to home. Andy Home is a journalist. The opinions expressed in this column are Andy Home's. Open Interest (ROI), a data-driven, thought-provoking commentary on finance and markets. Follow ROI on LinkedIn (opens new tab) and X (opens new tab). (Editing by PhilippaFletcher)
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UN force: Islamic State-linked militants killed 89 civilians during attacks in the east Congo
MONUSCO (the U.N. mission for peacekeeping in Central Africa) said that Islamic State-linked militants killed 89 civilians during multiple attacks on the eastern territory of the Democratic Republic of Congo, called Lubero, in recent days. MONUSCO released a statement that the attacks were carried out between November 13-19 by the Allied Democratic Forces. Among the 89 dead, at least 20 women as well as an unknown number of children died. It said that in one of the attacks the rebels attacked the health centre run by the Catholic Church, Byambwe. They killed at least 17 people, including women who were there for maternity care, and set alight four patient wards. The report said that the rebels also committed other crimes, including abductions and looting medical supplies. The statement read: "MONUSCO calls on the Congolese authorities, to immediately launch independent and credible investigations in order to identify and prosecute the perpetrators of these massacres." Last month, local officials reported that 19 civilians were killed in an overnight attack on the village of Mukondo by suspected ADF rebels. The ADF claimed responsibility in September for the deadliest attack in recent months, which claimed more than 60 lives at a funeral held in eastern Congo. The ADF began as a Ugandan rebel force, but is now based in the Congolese forests since the late 90s. It has also been recognised as an affiliate by the Islamic State. The ADF continues to attack despite the efforts of the Congolese army and Ugandan troops. M23 rebels, backed by Rwanda, control other parts of North Kivu Province. They have made a rapid advance in the past year. The United States, Qatar and other mediators are trying to broker a peace in this conflict. Washington hopes that it will allow Western investors in the mining industry. (Reporting and writing by Congo Newsroom; Editing, Rob Corey-Boulet and William Maclean).
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Gold poised to lose 1% in a week as US jobs data dampens rate-cutting hopes
Gold prices dropped more than 1% Friday, and are set to fall for the week after a strong U.S. employment report dampened expectations that a Federal Reserve rate reduction will be made next month. This weighed on non-yielding gold. Spot gold dropped 0.9% by 1213 GMT to $4,039.79 an ounce. Bullion prices have fallen 0.9% in the last week. U.S. Gold Futures for December Delivery fell 0.6% to $ 4,037.10 an ounce. The prospect of more rate cuts is somewhat doomed due to the good labour market data released yesterday. Nitesh Sha, commodities strategist at WisdomTree, believes that this is the main factor weighing down on gold. MIXED VIEW OF US LABOUR MARKET The delayed U.S. job report on Thursday offered a mixed picture of the labour markets. Non-farm payrolls increased by 119,000, compared to estimates of 50,000. However, the unemployment rate hit a four-year-high. The next jobs report will be released only after the Fed meeting in December, where traders see a 40% chance of a cut. Gold is more likely to perform well when interest rates are low. Beth Hammack of the Cleveland Fed, who was opposed to the Fed's latest rate cut, warned on Thursday against further lowering borrowing rates due to inflation. The physical gold market in major Asian markets has remained weak, as the volatility of rates discouraged potential buyers. INTACT FUNDAMENTALS ANZ stated in a report that the fundamentals of gold are still intact. "Factors such as slowing growth, high equity market valuations, geopolitical uncertainties, and diversification from U.S.-based assets will likely sustain robust demand for investment and central bank buying", ANZ noted. "I think that we are currently at the bottom of the gold price. "Prices may temporarily go lower, but the overall path will be upwards in the coming months," WisdomTree’s Shah said. Spot silver dropped 3.2% to $48,99 per ounce. Platinum fell 1.4% to $1490.87 and palladium declined 1.2% to $1361.42. (Reporting and editing by Alex Richardson in Bengaluru)
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AIP to sell or list French aluminum plant, union claims
A union official announced on Friday that American Industrial Partners, an investment firm based in the United States, plans to sell or list Aluminium Dunkerque on the stock exchange, France's biggest aluminium plant. Johan Vlietinck told CGT that the local management had informed the workers of AIP’s plan. Bloomberg News reported earlier that AIP considered a sale or listing of Aluminium Dunkerque. The company acquired the property four years ago after GFG Alliance defaulted on its debts. GFG Alliance is owned by commodities tycoon Sanjeev Gupta. A spokesperson from AIP France stated that the fund did not deny the reports in the press but declined to comment further. Aluminium Dunkerque was not immediately available for comment. Vlietinck stated that unions anticipated a sale following the signing of a 10-year contract for power with EDF by Aluminium Dunkerque in May. This agreement provided long-term visibility on costs and energy consumption. Aluminium Dunkerque produces about 300,000 tons of raw aluminum per year. Its annual electricity consumption is roughly equal to that of Marseille, France’s second largest city. According to its website, it generates an annual turnover of over 800 million euros (921.4 million dollars). Vlietinck stated that no offers have been made to the worker representatives. He added that the CGT would like to see the French government invest in a consortium. The French economy ministry has not responded to an immediate request for comment. Reporting by Gus Trompiz; editing by Inti landauro and Kirsten Donovan
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Wall Street to open lower and global stocks to fall weekly
European shares dropped on Friday, and it looked like the selloff would continue on Wall Street. Traders were worried about the valuation of tech stocks. The U.S. employment data showed a mixed picture. This added to the traders' insecurity and diminished hopes that Federal Reserve would cut rates this year. Wall Street was led lower by technology stocks on Thursday, despite a positive report from Nvidia about its earnings. Fears of a market bubble fueled by AI were not dispelled despite the chipmaker's good news. Investors continued to dump riskier assets during Friday's Asian trade. At 1219 GMT the MSCI World Equity Index had dropped 0.5%, and was on course for a weekly decline of 3.2%, its largest drop since March. The pan-European STOXX 600 fell by 0.8%, while London's FTSE 100 dropped by 0.4%. Wall Street futures fell as well. S&P futures fell 0.2% and Nasdaq Futures dropped 0.5%. MOVES 'HIGHLY CONTRAINTUITIVE" After Ukraine's President said he would be ready to work "honestly" on a U.S. backed plan to end this war, European shares in defence fell to their lowest level since early September. The Russian rouble hit a five week high as renewed hopes of a peace plan boosted the currency. The delayed U.S. employment data released on Thursday showed that the rate of unemployment was at its highest level in four years, but that employment growth had accelerated. Hani Redha is a portfolio manager with PineBridge Investments. He called the market's reaction to Nvidia's earnings and the data on jobs "highly contrary". He said that he would attribute this to the fact that some parts of market are under pressure, and are not supported by fundamentals. It may be that Nvidia acted as a sort of ATM yesterday, with people selling to make gains or to compensate for losses elsewhere. The AI investment frenzy has driven global markets to record highs, but some participants in the market are concerned that massive spending may not translate into meaningful progress. Sundar Pichai, Alphabet CEO, said earlier this week that no company will be left untouched if the AI boom fails. Data showed that global equity funds still attracted net inflows in the week leading up to the 19th of November. Investors still expect AI-driven gains. "AI is a major driver for equity markets." In a recent monthly note, UBS' chief investment officer Mark Haefele said that he expects AI-linked stocks to rise in the coming year due to rising capex and increasing adoption. YEN BOOSTED WITH VERBAL INTERVENTION Satsuki Catayama, Japan's Finance Minister, has said that an intervention could be made in the yen. This is her strongest comment to date about the currency. Its value has dropped by around 6% since Prime Minster Takaichi became leader of her own party. After the comments, the yen gained some support and was trading at 156.84 to the dollar. It is still close to Thursday's 10-month-low of 157.9. The Japanese cabinet has approved a stimulus package for the economy worth approximately $135 billion. The dollar index was also unchanged at 100.39 and the euro was at $1.1497, indicating a 0.2% gain for the week. The yields on euro zone bonds fell. The benchmark German Bund yield of 10-years dropped from its six-week peak, falling 4 basis points to 2.6838 percent. PMI data shows that the Eurozone business activity has grown steadily in this month. Oil prices dropped for the third consecutive day, as U.S. efforts to reach a Russia-Ukraine agreement on ending the war increased the likelihood of additional oil being supplied onto the market. Bitcoin dropped to its lowest level in seven months, $81,668. Gold fell 0.7% to $4,047.46 an ounce. (Reporting and editing by Elizabeth Howcroft)
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Ukraine to appoint a new board for atomic firm amid $100 Million Scandal
The Ukrainian government intends to appoint by the end this year a new board of directors at Energoatom - the state nuclear corporation at the center of a scandal involving corruption. Economy Minister Oleksiy Sbolev announced the plan on Friday. Ukraine is rocked by an allegation of a $100 million kickback scam involving a former business partner of President Volodymyr Zelenskiy and senior energy officials. This is the biggest corruption scandal in the country since Zelenskiy was elected president in 2019. He had a mandate of eliminating graft. Sobolev, a reporter, said: "We must restore the management and proper function of all bodies within Energoatom in order to restore trust." Since the full-scale Russian invasion of 2022, anti-corruption authorities in Ukraine have intensified their efforts to combat corruption. They are trying to convince donors that Kyiv will be ready for EU membership and to prove this readiness. This has led to painful revelations about the high-level corruption that has plagued Ukraine for years. After an investigation into allegations of corruption, the government fired Energoatom’s supervisory board in early this month. All officials of the company involved in this investigation have been suspended. Energoatom said that it was committed to transparency and cooperating with the authorities. The scandal unfolds amid an escalating Russian attack on Ukrainian energy infrastructure, including substations supplying electricity to nuclear power stations. The war with Russia is approaching its fourth anniversary, and millions of Ukrainians are facing long power outages. Energoatom operates three nuclear power stations, which provide Ukraine with over half of its electricity. The company has stated that the investigation will not have any impact on production and safety. Sobolev stated that the new supervisory council would consist of seven members: three government representatives and four independents. He said that the government is strengthening its recruitment process and requiring more qualifications. A large pool of potential candidates has been identified. Reporting by Olena Hartmash. Mark Potter (Editing)
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Bitcoin and other crypto-assets sink as a result of flight from risk
Bitcoin and ether fell to multi-month-lows on Friday. cryptocurrencies were swept up as part of a wider flight from riskier investments, as investors became worried about high tech valuations. They also lost bets that the U.S. would soon cut interest rates. Bitcoin, the largest cryptocurrency in the world, dropped 5.5% to $81,668, its lowest level in seven months. Ether fell more than 6%, to $2,661.37. This is its lowest level in four months. Both tokens have fallen by about 12% this week. Cryptocurrencies can be a good indicator of the risk appetite in the market. Their recent slide shows how volatile and fragile markets have become in recent weeks, as high-flying stocks in artificial intelligence plummeted and volatility spiked. CRYPTOCURRRENCIES LOSE $1,2 TRILLION IN SIX WOES Tony Sycamore is a market analyst for IG. He said that the drop in bitcoin could be a sign of a general risk sentiment. According to CoinGecko, the market tracking company, about $1.2 trillion was wiped from the value of all cryptocurrency in the last six weeks. The prices of Hong Kong listed spot bitcoin exchange traded funds launched by China AMC Harvest and Bosera each fell nearly 7% on Friday. Fall from Grace Bitcoin's fall follows a stellar year in which it reached a record-high of over $120,000 in October. This was boosted by favorable regulatory changes around the world towards crypto assets. Analysts say that the market is still scarred from a record-breaking single-day drop last month, which saw positions liquidated to the tune of more than $19 Billion. Sycamore said, "The market is feeling a little dislocated and a lot fractured since the selloff. Bitcoin is down nearly 19% for the year and has erased its gains of the past year. Citi analyst Alex Saunders stated that $80,000 was an important level, as it is about the average amount of bitcoin held in ETFs. The crypto selloff also has hurt the share prices of stockpilers. This follows a boom of public digital asset treasury firms this year, as corporations took advantage of rising cryptocurrency prices to purchase and hold them on their balance sheet. Shares of Strategy have dropped 11% in the past week, and are down almost 4% at premarket, as they remain at a one-year low. JP Morgan warned in a note published this week that if the company is not included in certain MSCI equity indices, it could lead to forced sales by funds tracking them. Metaplanet, its Japanese counterpart, has fallen about 80% since a peak in June. The crypto exchange Coinbase is heading for its worst losing streak since more than a week. MARA Holdings, CleanSpark, and the Winklevoss Twins' newly listed Gemini have all fallen by a combined 62% since its listing. CryptoQuant, a digital asset research company, said in its weekly crypto report published on Wednesday that "Bitcoin markets are at their most bearish since the bull cycle began in January 2023." We are likely to have seen the majority of this cycle's wave of demand pass." Reporting by Rae Wee and Niket Nishant. Kevin Buckland, Mark Potter and Kevin Buckland edited the story.
Africa G20 hosts bids to become a mineral powerhouse
South Africa hosts the first African G20
Trade talks focus on valuable minerals
Experts: Local processing is key to creating jobs
By Kim Harrisberg
Mineral experts and African leaders are in agreement with the protesters. The G20 summit of global leaders is an opportunity for the minerals, such as lithium and cobalt, to be used to the benefit of the continents where they can be found.
On the sidelines of the protest, Lazola Kathi, campaign manager for Fossil Free South Africa's Fossil Ban initiative, said: "It is important that the G20 includes communities, so that proper conversations about the development in Africa can be held."
What this can look like is job creation, skills transfer... our own energy sector", said Kati as protesters from Uganda to Zimbabwe sang and held placards. This can be a job creation program, a skills transfer program... or our own energy sector," Kati said as protesters from Uganda and Zimbabwe sang while holding placards.
Africa has 30% of the critical minerals required for the switch from fossil fuels and clean technologies, as well the digital infrastructure needed for AI data centres.
Africa has suffered from what is known as "the resource curse" for centuries. This paradox occurs when abundant natural resources cause conflict, corruption, and slower economic development.
For the first time, the G20, a group of leaders who represent 80% the global economy, will be hosted in Africa. In 2023, the African Union became a member permanent.
Experts believe this gives African governments greater leverage to demand global investment in local mineral processing for jobs as the demand surges.
Maxwell Gomera said, "Think about it this way. Selling raw cobalt would be like exporting flour instead of bread" during an address at a Johannesburg conference this month.
He added, "The world has entered a new race for Africa's mineral resources." "We have to make sure that the new green orders doesn't turn into the old colonial orders."
INDUSTRIALISATION MESSENGE
Deprose Manyena, Programme Director at Open Society Foundations, a human-rights funding organization, stated that the continent must negotiate as a group to leverage its bargaining power.
Muchena said, "The African Union has become a G20 member, so even if South Africa leaves the stage, AU will continue to spread the industrialisation message."
The Africa Green Minerals Strategy is a strategy that was endorsed by the African Union (AU) in 2025 to promote industrialisation of minerals across the continent.
The document outlines responsible mining, the need for skill development, and how to attract investment in local mineral processing or beneficiation.
According to World Bank research, more than a dozen African countries, including the Democratic Republic of Congo, Nigeria, and Namibia have either restricted or banned such exports to encourage beneficiation.
The U.N. reports that Zambia and the DRC have created special economic zones for the manufacture of batteries using local minerals.
The future of minerals that are critical to Africa is one of three themes of the South African G20 Summit.
According to the International Energy Agency (IEA), a global energy organization, the continent only captures less that 5% of the total value created by energy technologies.
Cyril Ramaphosa, the South African president, signed an important minerals agreement with the European Union that he described as "unprecedented" on Thursday. He stated that South Africa would increase its mineral processing in order to "move along the value chain".
"RESOURCES ARE LIMITED"
The G20 will be held in South Africa, but key players such as U.S. president Donald Trump and Chinese president Xi Jinping won't be attending.
Both countries have a key interest, capital and investment in critical global minerals.
Kati, from Fossil Free South Africa, said: "It's better to have Trump and his likes absent."
She said, "This is the moment where we can define investment and development so that when they return we will be ready with a programme African-defined."
Muchena, of OSF, says that mining is not the only element in Africa's development.
He said that despite the G20's focus on critical minerals, mining is a short-term activity.
He said: "We know that resources are finite, and at some point demand for essential minerals will decrease due to technologies which could replace this need. Diamonds have been replaced by synthetics in the same way."
It was important to make the most of these financial benefits during the life spans of mines.
Muchena estimates Africa will export close to $250 billion in revenue between 2023-2024 from its essential minerals. $1.6 trillion is expected over the next 25 years.
"If these numbers are correct, then they should find their way into communities to transform them and provide energy directly," said he, referring to the 600,000,000 Africans who do not have reliable electricity.
Raphael Bahebwa, a Congolese activist and bishop from the Congolese Solidarity Campaign, spoke at the protest about the mining abuses that are occurring in his country, where 70% of the cobalt found on the planet is mined.
"Everyone who carries a cellphone carries the blood of our People," said Bahebwa in reference to the exploitative mine practices that lead to the cobalt used in the majority of cellphones.
(source: Reuters)