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The nickel production of Nornickel Russia in 2026 is expected to be similar to the previous year.
Nornickel of Russia, the largest palladium and refined nickel producer in the world, said on Wednesday that it expected its nickel production to reach 193,000-203,000?metric tons by 2026. This is roughly in line with what was achieved in 2025. The company said that its 'palladium production?this year will fall between 2.415 and 2.465 millions ounces. This is after producing 2.725million ounces in 2025. This was down 1% on a year-over-year basis, but in line to their forecasts. The company reported that it would produce 198,521 tonnes of?nickel by 2025. This is a 3% decrease from the previous year. However, this result was within the range projected by the company of 196,000 to 204,001 tons. Nornickel attributes the decline in production in recent years to depletion of ore and forced switching to alternative mining equipment because of 'Western sanctions. The company was not directly sanctioned, but the sanctions have restricted access to Western equipment and complicated payment and logistics. Some foreign clients avoided buying Russian metal and the company has redirected sales to Asia. The company's Chief Operating Officer Evgeniy Fedorov stated that the production of all metals except platinum had been slightly reduced due to a temporary rise in the percentage of disseminated ore, while low-grade ore was sparse. He added that Nornickel continued to upgrade its mining equipment fleet by acquiring new suppliers after losing access Western equipment. It said that the company had begun construction on a?deeper level at its Skalisty Mine to bring rich ore from the Oktyabrskoye Deposit into production. Fedorov stated that "it is this project which will enable us to restore the share of rich ore production in total output by 2020." Vladimir Potanin, CEO of the company, said that the decline in production is a temporary phenomenon. Fedorov said that the company does not intend to cut production artificially. (Reporting and editing by Louise Heavens, Jan Harvey and Anastasia Lyrchikova)
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Argentina asks for suspension of YPF's 'illegitimate discovery process' in U.S. courts
Argentina's Treasury asked a New York Court on Wednesday to suspend discovery in the case of nationalization by state-owned oil firm YPF, describing it as illegitimate. Argentina wants to 'overturn' the $16.1 billion award by a U.S. district judge to Petersen Energia Inversora, and Eton Park Capital Management for alleged losses resulting from YPF nationalization. Burford Capital, a UK-based company, is financing the litigation and will receive a large portion of any award. In a shared statement on X, Argentina's Treasury announced that it had filed a formal request with Southern District Court of New York for the suspension of the discovery process as ordered by the court. It also requested the withdrawal of the request for contempt against Argentina made by the plaintiffs. The Treasury said that Burford requested information regarding Argentina's Central Bank gold reserves. The institution stated that "the discovery process initiated and ordered by the Court has been completely distorted, and transformed into a weapon of 'illegitimate harassing' intended to hamper the normal functioning the Argentinean State." The court said that the current discovery requests are intrusive and disproportionate and that the administration of President Javier Milei, who came to power in 2023, had complied?fully with the legal process, delivered all the information requested by the court, and?fully followed the legal procedure. Argentina claims that the U.S. court case brought against it for securing control of YPF, the state-owned oil company, is not the right place to hear the case. Instead the case should be heard by local courts under local laws.
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Cree Nation in Quebec is on lockdown following fatal shooting
On Thursday, the Cree Nation Mistissini was on lockdown in?Quebec?following a shooting which police claimed left two dead. The police also said that it was linked to organized crime and drug trafficking. Chief Michael Petawabano of the 'Cree Community, in a post on Facebook, stated that all community buildings, schools, and offices had been closed, and police were conducting an active investigation. "We ask that all members of the community remain calm and stay inside as police conduct their investigation. He said that he would update the community as more information became available. Quebec Provincial Police spokesperson said two men in their thirties were found dead Wednesday night. The incident seemed to be related to organized crime and drug use. Canada has a stricter gun law than its neighboring U.S., and mass violence and shootings in Canada are rare. The violence levels in Canada's marginalized and remote First Nations are higher than in the rest of the country. In 2022, on a Saskatchewan indigenous reserve, a man 'knifed to death 11 people and injured 17 others before succumbing to a cocaine overdose. (Additional reporting and writing by Doina chiacu, Katharine Jackson. Editing by Scott Malone and Alexandra Hudson.
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French government advisor says Carester, a French company, teams up with Malaco, a Malaysian miner on a rare earths project.
Carester, a French rare-earths specialist, and Malaco Mining Group, a Malaysian miner, have teamed up to create a rare-earths separation plant. They will also work together on rare earths mining. After meeting with Malaysian officials, Benjamin Gallezot (a consultant on strategic minerals) said that the agreement will include both technology transfers and expertise to ensure environmental compliance. Western countries are working to find new sources of rare Earths for electric vehicles, smartphones, and other high-tech items. This is to reduce their dependence on China, which is the world's biggest rare earths producer. Malaysia is seeking foreign partners to develop its rare earths industry. The country is estimated to have 16.1 million tonnes in rare earths but lacks technology to mine them and process them. Gallezot stated that the companies will seek to build a Malaysian facility focused on the separation of rare earths, which is required before the elements can used to make advanced magnets to manufacture electric vehicles and clean technology. Gallezot, refusing to name the companies, said that Malaco had already been in contact with a number of European magnet makers. He said that the Japanese government had also expressed interest in the project. Malaco Mining has not responded to an outside of office hours request for comment. The Japanese embassy also failed to respond immediately to a comment request. Gallezot also said that the G7 countries will 'look to have discussions with foreign partners outside of the group about critical minerals at its meetings this year. He said that international cooperation was key to diversifying the supply chain. (Reporting and editing by David Stanway, Jane Merriman, and Rozanna Latiff)
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Gold reaches record high of $5,300 while the dollar falls
Gold prices surpassed $5,300 an ounce for a first time on Wednesday as weakened confidence in the U.S. Dollar and concerns about?the?independence?of the U.S. Federal Reserve increased demand for this safe-haven. Gold spot jumped by 1.5%, to $5,266.22 per ounce, at 1225 GMT, after reaching a record of $5,311.31. Prices rose by more than 3% during the previous session. U.S. Gold Futures for February Delivery jumped by 3.5%, to $5260.40 per ounce. "Gold is not only rising because of market anxiety but also due to a shift in confidence towards a more 'cautious stance,'" said Linh Tran senior market analyst at XS.com. Dollar-priced gold was more appealing to foreign buyers after President Donald Trump dismissed its recent weakness. Trump said he would'soon announce the choice he has made to lead the Fed, and that interest rates will fall once a new chair is appointed. Nitesh Sha, a WisdomTree commodity strategist, said that "the truth is that any candidate that will be suggested will likely be less resistant to Trump's demand than Powell", which would be in gold's favor. Gold, which doesn't yield interest, usually performs well when rates are low. It is expected that the Fed will hold rates at its current monetary policy meeting in January. Metal has risen by more than 20 percent since the beginning of the year. This is a significant increase on the record gains made last year. Deutsche Bank analysts believe that gold prices could reach $6,000 per ounce in this year due to persistent demand for investment. Retail demand has been strong in Shanghai and Hong Kong despite record prices. Shah added, "On the jewellery side, I believe the prices will soften the demand. But I think that?the high price may, at this moment, be helping a bit of speculation from the retail side." After hitting a record-high of $117.69 an ounce on Monday, spot silver fell by 0.4% and is now at $112.59. It has gained almost 60% this year. The spot platinum price rose 0.4% to $2,651.90 per ounce after hitting a record of $2,918.80 an ounce on Monday. Palladium also gained 1.9%, reaching $1,970.75.
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Russia and Ukraine exchange war dead
On 'Thursday, Russia and Ukraine announced that they had exchanged their latest war dead. This is a common practice to allow the relatives of those who have died on the battlefield to bury them. In a joint statement, Russia and Ukraine said that they had exchanged 1,000 corpses of Ukrainian soldiers. Vladimir Medinsky, a Kremlin adviser, said that Kyiv handed Moscow the bodies of 38 Russian soldiers. Medinsky shared an image of the exchange on 'Telegram, showing white refrigerated vehicles parked in a snowy area near a wood. People dressed in biohazard suits were standing around. The Ukraine coordination centre for prisoner exchanges has confirmed that a body exchange took place, saying via Telegram that Russia handed Kyiv 1,000 corpses which Moscow claimed were Ukrainian soldiers. The last time Kyiv and Moscow exchanged prisoners of War was in October 2025 . Both sides accuse one another of blocking new prisoner swaps. (Reporting and Editing by Andrew Osborn).
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As the Fed rate decision nears, the dollar is steadied and world stocks are at record highs.
The dollar recovered its footing after it had fallen sharply on Tuesday, when U.S. president Donald Trump appeared to "shrug off" its recent weakness. Meanwhile, positive earnings kept the world stock market near record highs ahead of a Federal Reserve interest rate decision. The?U.S. The?U.S. European stock markets declined, but U.S. futures indicated a positive opening for Wall Street. Japan's blue chip Nikkei also gained. The MSCI World Stock Index was hovering at record highs. "Last Week, when it seemed like there was a flight away from the U.S., you saw equities fall, Treasuries take a hit, and the Dollar falling. It's now more about the dollar," said Jan von Gerich Nordea Chief Markets Analyst. The Fed is expected hold rates steady at a meeting that was overshadowed by the criminal investigation launched by the Trump administration against U.S. central banks chief Jerome Powell. Also, there are ongoing efforts to remove Fed Governor Lisa Cook and a 'coming nomination of Powell's successor in May. Von Gerich stated that "the most interesting thing about tonight's Fed meeting is that Powell can now speak more about this political pressure because he has?refrained so far from doing all of that." On FX Watch The dollar index (which measures the U.S. currencies against six major competitors) was 0.37% higher, at 96.27, after falling more than 1% to a four-year high on Tuesday. Trump responded on Tuesday that the dollar's value was "great" when asked if he felt it had declined too much. Although this view is not new, traders took it as a sign to increase the selling pressure on the US dollar. This comes at a moment when the markets are preparing for a possible coordinated currency intervention from U.S. authorities and Japanese authorities in order to stabilize the yen. The dollar's plunge lifted the euro briefly over $1.20, the first time in 2021. It also sent the Australian Dollar temporarily above 70 cents, a three-year-high. Gold reached a new high and commodity prices, which are mostly denominated by dollars, rose to a record. Guy Miller, chief strategist for Zurich Insurance Group, said that despite the fall in the dollar, it came from a "very rich level" and is still not cheap today. "I don't think the administration is in a hurry to stop the decline." Policymakers at the European Central Bank have meanwhile? flagged growing concerns about the rapid appreciation of the euro against the dollar and warned that it could bring inflation down, even though price growth has already been set to 'undershoot' the ECB target of 2%. Earnings are plentiful ASML, the world's largest supplier of computer chip equipment, reported stronger-than-expected bookings for the fourth quarter, highlighting resilient AI demand. Its shares rose 5%, beating a flat European market. Wall Street is in for a big day of tech earnings, with Meta and Tesla reporting their results after the closing bell. The weaker dollar has filtered through to other assets. Gold reached a new record of $5,380 per ounce, and Brent crude futures have hit a high four months ago, just above $68. In Asia, higher-than-expected inflation rates in?Australia during December have led to expectations that a rate increase could be announced as early as next week. ANZ, Westpac and all four of Australia's "Big Four banks" now predict a rate rise. Indonesia's stock market plunged 7% as index provider MSCI expressed concern about the opaqueness of ownership and trading. It also halted updating Indonesian entries to its products which are monitored by global investors.
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Germany's Merz : Europe found "joy of respect" to defend rules-based global
On?Thursday, German Chancellor Friedrich Merz said that Europe found "self respect" by standing up for an order based on rules. He also called for a stronger NATO in Europe while still reaching out to the United States. Merz told the German Parliament that Europe would no longer be intimidated by tariff threats after U.S. president Donald Trump decided not to use tariffs to take Greenland away from NATO member Denmark. Merz's speech highlighted how European leaders are emboldened to try and?project European values and strength, after the standoff between Trump and Greenland and global trade ructions. "We have seen the rise of a new world of superpowers in recent weeks. Merz said that "rough winds are blowing in this world and we will be feeling their effects for a foreseeable future." He said that in recent weeks "we were able to experience a sense of self-respect" and added that rules-based actions and rules-based commerce are not dead. Merz stated that "more and more countries are recognizing the fact that the global reorganization is a great opportunity for those who value rules over arbitrariness, and who believe in fair and free trade as opposed to the pursuit of self-interest." EU UNITE AGAINST TARIFF INITIATION, SAYS MERZ Merz spoke a week after tensions between Trump and the West over Greenland threatened to tear apart the NATO alliance, which has been the cornerstone of Western security since World War II. His words echoed the words of French President Emmanuel Macron, who said in a speech to the World Economic Forum at Davos in Switzerland that Europe would not be bullied. In the same conference, Ursula Von der?Leyen, President of the European Commission, called for a renewed form of European Independence, while Mark Carney, Prime Minister of Canada, said that democratic middle powers in a time of "great power rivalry" must work together to build coalitions. "Last weekend, we showed that the EU is capable of acting quickly when needed. ? Merz stated that "we were united by our determination to never be intimidated again by tariff threats." Merz cited European Union trade agreements with the?South American Trade bloc Mercosur, and with India as an example of Europe moving forward. He added that Europe should speed up reforms and dial down regulation. Trump sparked anger in Europe by claiming that European troops had not been on the frontlines of Afghanistan. Merz, a member of the German parliament, told the chamber that "59 German soldiers died during their almost 20-year deployment to Afghanistan and over 100 were seriously injured in battles and attacks." We will not let this deployment be slandered or belittled." (Reporting and editing by Madeline Chambers and Aidan Lewis; Sarah Marsh, Matthias Williams)
Health Rounds: Electric vehicles reduce air pollution, which is harmful to health.
Researchers studying satellite data for California discovered that the?more electric vehicles in a neighbourhood, the lower air pollution caused by burning fossil fuels.
Satellite data confirmed, on the other hand, that areas that increased their number of gas-powered cars saw an increase in pollution.
In a press release, Sandrah Eckel from the Keck Medical School at USC stated that California's move to electric vehicles has already made measurable changes in the air quality.
Researchers reported in The Lancet Planetary Health that for every 200 zero emission vehicles added to Californian neighborhoods between 2019-2023, nitrogen dioxide concentrations dropped by 1.1%.
Pollutants released by burning fossil fuels can cause asthma attacks, bronchitis and increase your risk of stroke and heart disease.
Researchers analyzed the data by dividing California into 1,692 areas and obtaining publicly available information from the Department of Motor Vehicles of the state on the number of ZEVs that are registered in each area. These included fully-battery-electric cars, plug in electric hybrids, and hydrogen fuel cell cars.
The researchers then collected data from a satellite sensor with high resolution that measures NO2 levels based on how the gas absorbs or reflects sunlight.
Researchers plan to compare the data on ZEV use with emergency room visits related to asthma and hospitalizations in California.
The report stated that while the Trump administration prefers gas-powered cars and has ended?tax incentives aimed at promoting EVs the full transition to electric vehicle is projected to lower ambient NO2 levels by 61% in America and up to 80% by China.
Eckel added that the findings "show cleaner air isn’t just a theoretical concept, but it's happening already in communities throughout California."
EXPERIMENTAL CONTACT LENSES MONITOR PRESSURE IN THE EYE
Early animal testing found that the experimental contact lenses were as accurate as more expensive equipment.
Researchers in Japan have developed a method to integrate a thin layer with multiple layers into lenses. Each layer has its own intrinsic properties, which help measure and monitor intraocular tension in real-time, according to a report in npj Flexible electronics.
Wireless transmission of data is possible with an antenna integrated into the lens.
Researchers have noted that glaucoma can be a major cause of blindness in people who cannot monitor and manage intraocular pressure on a daily basis. The current tools used to measure intraocular pressure are not portable, convenient or easily accessible. They also cannot be continuously monitored.
According to the report, when they tested their lenses on rabbits, the pressures that were transmitted by the devices matched those obtained using traditional monitoring devices.
The authors admit that there are still some obstacles to overcome before the devices can be used in the field. This includes the need for a way to differentiate intraocular pressure variations caused by posture changes or blinking.
Takeo Miyake, study leader at Waseda University, Tokyo, said that the platform was promising for long-term non-invasive intraocular monitoring. (Reporting and editing by Nancy Lapid, Bill Berkrot).
(source: Reuters)