Latest News
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Six Palestinians killed in Gaza Strip by Israeli strikes, say medics
Israeli strikes?killed six people in a separate attack in 'the Gaza Strip on Tuesday, according to health?officials. This is the latest violence that has overshadowed a 'fragile five-month old U.S.-brokered truce deal. A medic said that an Israeli airstrike on Jabalia in the north of the enclave killed at least three earlier in the day. Another airstrike, which took place in Khan Younis in the south, killed a father, and his son. Health officials reported that an Israeli airstrike on Tuesday afternoon?against Palestinians near a checkpoint in Mawasi? in the southern Gaza Strip? killed one person and injured eight others. Israeli officials have not commented on any of these incidents. Hamas and Israel have exchanged blame over violations of the ceasefire agreement reached last October. Gaza's health ministry reported that Israeli fire killed at least 700 civilians since the ceasefire. Israel claimed that four soldiers in Gaza were killed over the same period by "militants". Israel and the U.S. are also involved in a 'conflict with Iran. Israeli forces have also invaded southern Lebanon as part of a new campaign to combat Iran-backed Hezbollah. According to Israeli figures, Hamas' attacks on Israel in October 2023 killed 1,200 people and 251 were taken as hostages. According to Gazan health authorities, Israel's two year-long offensive has resulted in the deaths of more than 72,000 Palestinians. Most of them were civilians. It has also spread famine, destroyed most buildings and forced most of Gaza's residents to move, often multiple times.
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Savannah accelerates Portugal lithium project and sees longer life span
Savannah Resources, a London-listed company, is speeding up work on its 'lithium project' in Portugal. The CEO,?Emanuel Proenca, said that the company was confident of being able to?become globally competitive, and reduce Europe’s dependence on Chinese supplies for the metal used to make?batteries. Resources at the Barroso deposit in northern Portugal, a lithium bearing mineral, were increased in September from 28 to 39 million tons. This was already Europe's biggest deposit. Proenca stated that 'potential extensions between 35 and 62 millions metric tonnes could push resources above 100 million metric tonnage, more than doubling the mine lifespan projected to more than 50 years. Work has intensified in recent months, on all fronts. With each milestone, we are more and more confident that the project can be highly competitive at a global scale, even under difficult market conditions. The 110 million Euro grant from the Portuguese Government was also "a step in the right direction." Construction is planned to begin in 2028 and a final investment decision will be made by the end the year. As Europe moves away from fossil fuels, it aims to reduce its reliance on Chinese Lithium. However, the country's own capacity for extraction and refinement remains limited. Proenca said the project could break even with $600 per ton spodumene concentration, "allowing them to compete with majors" while supplying raw materials closer to Europe’s refineries, and "reducing their reliance on other countries especially China." Spodumene exported to China now trades at more than $2,000 Since Barroso became a World Heritage site in 2018, the project has faced local opposition. However, the CEO stated that this was "gradually declining" as the company hired locally and increased engagement with the local community. (Reporting and editing by Andrei Khalip, David Gregorio, and Sergio Goncalves)
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EU wheat gains for the third consecutive month
The European wheat futures are poised to make a third consecutive monthly gain in March. This is due to strong oil prices and a rebound on the wider markets, which was fueled by hopes for de-escalation in the Middle East. However, a strong euro on Tuesday dampened gains. Euronext's benchmark May milling grain was trading at 204.75 euro per metric ton as of 1600 GMT, up 0.5%. The benchmark May milling wheat on Paris-based Euronext was up 0.5% at 204.75 euros a metric ton by 1600 GMT. In Chicago, the price of wheat was $6.18 per bushel. One German trader stated that "Euronext's holding of well over 200 Euros is a burden for the export outlook." Brent crude oil was?on course for a monthly increase record. The grain prices are closely tied to the fluctuations in crude oil price during the Iran war, as a result of the increased use of corn for biofuels and the rising costs associated with energy and fertiliser. U.S. Department of Agriculture stated that U.S. Farmers plan to plant more soybeans and less corn in 2026 due to the rising fuel and fertiliser prices. Although international bids showed mixed signals, traders stated that the Iran War continues to affect?import prices. Tunisia won a tender to purchase 100,000 tons of soft grain at a price of $274.73 per ton, cost and freight. This was higher than the $271.69 paid for a tender on March 6. Jordan's purchase of 60 tons of hard grain was made at $275.95 per ton cost and freight (c&f), a price that is slightly below the $277.50 per ton paid on March 17th. The price of Russian and Polish/Baltic 125% wheat was $238-$239 per ton, while German and Romanian 125% wheat was $240 to $243 per ton. U.S. 'hard red winter grain remained 'less competitive, at more than $279 a tonne fob. Argentine supplies are also dwindling following large recent exports. (Reporting from Sybille De La Hamaide and Michael Hogan, in Paris; Editing by David Goodman)
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Stellantis and China's Leapmotor sign a carbon credit deal for Europe and UK
Zhejiang Leapmotor Technology entered into an agreement to transfer carbon credits generated in Europe and the UK over the remainder of 2026 to Stellantis subsidiaries. The agreement covers all credits generated from the sale and registrations of battery electric vehicles, range-extended models and electric cars under 'the Leapmotor Brand' between March 31 and December 31, said a company filing in an exchange on Tuesday. Leapmotor said that the deal would help it expand its revenue sources as well as fulfill its "corporate social responsibility". Stellantis and Leapmotor have a joint venture to sell the Chinese electric vehicle maker's vehicles in Europe. Stellantis, along with Toyota, is not a part of the carbon-credit "pool", led by Tesla this year, that is intended to help carmakers meet the European Union's carbon emission targets. Brussels originally planned to fine automakers who failed to meet strict fleet-wide emissions?cuts? by the end 2025. The 'European Commission' eased up on the rules early last year and allowed compliance to be assessed based on the average emissions for the period 2025-2027. (Reporting and editing by Jonathan Ananda in Bengaluru)
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Source: Tether fires two gold traders who were hired just three months earlier
Sources with direct knowledge of the matter reportedly said on 'Tuesday that Tether had?let go? two senior precious metals trader?it hired only three months earlier from HSBC. El Salvador-headquartered Tether cut the roles as spot gold prices headed for their steepest monthly drop since the 2008 financial crisis, pressured by fading expectations of rate cuts and rising energy costs amid the war in ?Iran. Tether holds about 130 metric tonnes of physical gold backing their products by the end of 2025. CEO Paolo Ardoino told in January that they also planned to allocate 10-15% of their own investment portfolio to gold. Source: The source claimed that the two traders were let go in this month. LinkedIn profiles of one of the two traders show that they have been laid off or their position eliminated at Tether. Bloomberg was the first to report on this news. Tether declined to comment on the personnel moves, but stated that it "always strives to work with a lean team to continually optimise our operations." We have built a gold team that is state-of-the-art, and leverages the expertise from Tether's most recent investments. Tether's investment portfolio was valued at $20 billion in January. This included investments in U.S. Treasuries and bitcoin, as well as the tech sector. In January, speculative demand pushed?bullion to a new record of $5,595 per?troy-ounce after it surged 64% by 2025. In the face of high volatility, gold has dropped 18% from its record high. It is currently down 13% to $4,579 in March. (Reporting and editing by Louise Heavens; Polina Devlin)
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Hegseth: Iran's future is in the hands of Hegseth, and Tehran has threatened US business interests in the region
Hegseth warned Tehran on Tuesday that the next few weeks in the war with Iran would be decisive. The conflict would escalate if Tehran did not reach a settlement. Iran's Revolutionary Guards have responded with a new warning, saying they will "target U.S. firms in the region as retaliation" for attacks against?Iran starting Wednesday. They listed 18 groups, including Microsoft, Google Apple, Intel IBM, Tesla, and Boeing. Iran'set ablaze' a fully-loaded oil tanker near Dubai. This is its latest attack against merchant vessels in Gulf waters or the Strait of Hormuz, since the United States attacked Iran on 28 February. Donald Trump, the U.S. president, threatened to destroy Iran's power plants on Monday if Iran refused to agree to a deal for peace and to open the Strait of Hormuz. This vital waterway is used by oil shipping around world but has been effectively blocked by Iran. HEGSETH SAYS THAT TRUMP IS WILLING TO MAKE DEAL Trump criticized countries on Tuesday that had not contributed to the war. This included France and Britain. He said they should have "some delayed courage" and cross the Strait and obtain their own oil. According to sources, France has not allowed the use of its airspace for U.S. weaponry to be used in the war. Hegseth said that he had visited U.S. soldiers in the Middle East, and that talks were continuing and strengthening. However, if Iran refused to comply, the U.S. would be prepared to continue its war. Hegseth, who spoke in Washington, said: "We have many more options and they have fewer. In only one month, we have set the terms and the next days will be decisive." "Iran is aware of this, and they have little to no military options." The conflict, which has lasted for a month, has affected the entire region. It has killed thousands of people, disrupted energy supplies, and threatened to throw the global economy in a tailspin. OIL PRICES SET FOR RECORD GAIN MONTHLY After the attack on the tanker which could carry 2 million barrels worth of oil at current prices, the price of crude oil briefly spiked. The higher oil and fuel costs have begun to affect the household finances of Americans and Trump's Republican Party ahead of November's midterm elections. GasBuddy, a price tracking service, reported that the average U.S. retail?price for gasoline surpassed $4 per gallon on Monday. This was the first time in over three years. Brent crude futures rose 4.7%, to $118 per barrel. This is on track for a record-breaking monthly gain. The authorities in Dubai confirmed that the fire aboard the Kuwait-flagged Al-Salmi was brought under control after a drone strike. There were no oil spills and no injuries among the crew. Kuwait Petroleum Corp., the ship owner, confirmed that the vessel's hull had been damaged. Photos of the Al-Salmi also confirmed this. According to TankerTrackers.com, LSEG data indicated that the vessel was headed to Qingdao, China and carried 1.2 million barrels Saudi crude oil, and 800,000 of Kuwaiti crude. Al-Salmi was not the intended target. Iran's Revolutionary Guards claimed they targeted a container vessel in the Gulf because of its links with Israel. According to shipping data, they seemed to be referring to the Singapore-flagged Haiphong express, which was anchored near the Al-Salmi. INTERNATIONAL ATTEMPTS TO MEDIATION U.S. Gen. Dan Caine, Chairman of the Joint Chiefs of Staff in Washington, told reporters that the U.S. continued to destroy and degrade Iran's capability. He claimed that the U.S. Military was still striking key research and manufacturing sites, and had "taken out more than 150 Iranian naval ships". Hegseth claimed that U.S. attacks were leading to widespread desertions from Iran. Two U.S. officials said on Monday that thousands of elite soldiers from the U.S. Army 82nd Airborne Division had begun arriving in the Middle East. These reinforcements could increase Trump's options, including a ground attack in Iran. Pakistan seeks to mediate the conflict as attacks show no signs of abating. China and Pakistan's foreign ministers called for a ceasefire immediately on Tuesday, after their meeting in Beijing. They also urged peace talks as soon as possible. Iran has been defiant in the face of heavy U.S., Israeli and other attacks over the last month. The U.S. peace proposal was received via intermediaries but the foreign ministry spokesperson said that they were "unrealistic and illogical". NEW ATTACKS The war continues to spread. Houthis, who are aligned with Iran, in Yemen have entered the conflict by firing on Israel. Turkey reported Monday that an Iranian ballistic missile had entered Turkish airspace, before it was shot down. The war has also rekindled conflict between Israel, which is backed by Iran, and Hezbollah in Lebanon. Iran, which has suffered the most casualties, has targeted targets in Gulf Arab states where the U.S. maintains military bases. An official from the province told Iranian media that a strike on a Shi'ite muslim congregation hall in Zanjan, located in northwestern Iran, killed three people. Under intelligence guidance, the Israeli military announced on Tuesday that it had carried out airstrikes overnight in Tehran, targeting a factory producing ballistic missile warheads, research sites for weapons and missile launchers. In two separate incidents, three U.N. Peacekeepers from Indonesia were killed by four Indonesian soldiers in southern Lebanon.
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Construction materials supplier BRCK soars after rejecting Atlas takeover proposal
BRCK Group's shares soared more than 24 percent on Tuesday, after the UK-based construction materials supplier announced that it had rejected a 65-pence-per share takeover?approach by U.S. private-equity firm Atlas Holdings last week. The group claimed that its board unanimously rejected the non-binding offer of cash on 23 March, saying that it fundamentally undervalued?the?company. Atlas stated that BRCK board will only provide limited additional information. While it will'review what is shared,' it doubts such minimal details will 'allow it to confirm a proposal. LSEG data shows that the proposal valued BRCK (which distributes bricks and roofing tiles, as well as other construction products) at approximately 209.4 millions pounds ($276.37million), according to LSEG. The approach, which was first made in February this year, has added BRCK as another London-listed company that is attracting?interest from foreign buyers looking to benefit from the relatively low UK equity valuations. Private equity firm De La Rue, which purchased banknote 'printer De La Rue 2025, is required to make a 'firm offer' for BRCK by April 28th, according to UK takeover regulations. Atlas has until the 28th of April to make a "firm" decision to either accept or reject an offer. BRCK'shares are up almost 32% as of 0754 GMT after losing nearly 27% this?year.
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The European and African oil market is tightening as Asia purchases more
As summer approaches, the European and African oil markets are tightening up. Asia is looking for supplies to fill shortages due to Iran's blockade of the Strait of Hormuz. This has been going on since last week. Iran's blocking of the Strait of Hormuz and the attacks on the energy infrastructure of Middle East Gulf countries and Iran have forced the shut down of 10 million barrels of oil per day from the Middle East. This production volume is at least 10% the daily global oil consumption. Asia is most affected by oil and natural gas interruptions because it relies heavily on Middle East supplies and is the largest oil-importing region in the world. Middle East Dubai oil benchmark reached a record high of $169.75 in March, breaking Brent futures previous record set in 2008. According to LSEG, North Sea 'Forties' crude rose to a $7.20 premium per barrel over Brent dated on Friday. This is the highest ever recorded. Paper markets around North Sea physical prices are also tight. The first week of short-term Brent Swaps Curve, also known as Contracts for Difference, which indicate the dated Brent price, was trading at $12.35 per barrel higher than the contract six?weeks?ahead, on March 27. This is a record. "Globally there are fewer available barrels, so those who need them bid up the prices," said Neil Atkinson. He is a former head of oil markets at the International Energy Agency, and an experienced oil analyst. ASIA IS BUYING MORE OPEC FROM EUROPE AND AFRICA Morgan Stanley analysts stated on Monday that Asian buyers who are looking to secure barrels of oil elsewhere and shortages have caused prices to rise for European buyers. Morgan Stanley analysts stated that "the supply is being diverted east comes from the pool?that Europe would use otherwise to balance itself," adding that more oil coming from West Africa is headed to Asia. On Monday, U.S. WTI Midland oil, which is used to set the dated Brent benchmark for Europe, was trading at a record $9.50 premium per barrel over dated Brent. This is almost $8 more than before the war began. Kpler estimates that crude?and product shipments from Europe to Asia, as well as from key West African producers Angola, Nigeria and other West African countries, will increase by about 200,000 barrels per day (bpd) in March compared to February, to reach 3.72 million bpd. Fuel shipments are even being rerouted from Europe to Asia and Africa as a result of the 'tough competition' for supplies. According to Energy?Aspects, four tankers carrying 168,000 metric tons of U.S. gasoil and diesel have been diverted from Europe towards South Africa over the past few weeks. The data also showed that at least four tankers, carrying 430,000 tons Middle Eastern and Indian Diesel, began sailing to Europe in late February or early March, and then made a U-turn towards Southeast Asia. The data showed that European gasoline cargoes were also headed to Asia, after Asian prices soared due to tight supply. Asia also took more crude cargoes out of Europe and West Africa.
South Africans fight against mine rush in biodiversity hotspot
The West Coast of South Africa is facing a mining boom
Rare earth minerals are needed for renewable energy
* Locals protect the environment through legal means (adds details on permit applications in paragraph four).
By Kim Harrisberg
Mining is already taking place on large parts of the coast.
According to civil society group Protect The?West Coast, South Africa's West Coast has been mined and prospected by mining companies for?minerals such as diamonds and rock phosphate. 48 new mining requests were submitted in 2026.
Department of Mineral and Petroleum Resources, DMPR, said that these figures were not the same as its own and stated that it received six applications for prospecting and two applications for mining permits in Western Cape Province. It did not provide figures for the remainder of the West Coast.
In recent months, local groups, including artists, indigenous leaders, and scientists, have launched petitions, legal actions, and campaigns citing the risks associated with mining in the area.
The West Coast is nearing a tipping-point. Mike Schlebach, PTWC's managing director, said that we risk losing birds, wildlife and ecosystems which cannot be recovered.
Solar panels and windmills can use heavy minerals such as zircon and rutile.
According to the International Energy Agency, the demand for these green minerals required in the energy transformation is expected to triple by 2030.
According to PTWC, inland 1,800 square kilometres are reserved for diamond mining. In the Western Cape, up to 2,900 sq kms can be used for prospecting.
A PTWC report stated that the West Coast has been mining for decades and the land equivalent to 5,000 football pitches - or 37.5 square kilometres – is not in an 'environmentally-healthy state.
The sand slopes and open pits are evidence of decades of diamond mining in the region.
The DMPR stated that it couldn't confirm this figure and that certificates of closure were only issued after mining companies completed rehabilitation following an inspection.
According to PTWC, only 10% of the area is protected at present and it is home to over 6,300 endemic animal and plant species.
According to the department, expert studies and recommendations were used to determine if and under what conditions mining companies would be granted an environmental permit.
Peter Carrick, University of Cape Town restoration plantist, said: "We must be very careful with the type of development that occurs and its manner of implementation."
He said, "This is an incredibly beautiful and fragile landscape."
NATURAL HERITAGE
The West Coast is not only rich in biodiversity but also has a lot to offer indigenous groups, small-scale fishermen, and archaeological sites.
Over 200 protesters met this month to oppose the boom in mining in the area. A five-metre-long driftwood sculpture of the gannet bird, made by a local sculptor to represent the fragility and diversity of native bird species.
More than 60,000 people have signed a petition to prevent mining in the area.
Gaob Martinus Fredericks is the leader of indigenous!Ama people (Nama).
"We want to protect our children's livelihoods and our own as well as the natural heritage of our country."
Fishermen's groups reported that they have seen a decline in fish populations over the years as mining has become more common.
You can see the damage this has done to our ecosystems. Carmelita 'Mostert is the chairperson of Coastal Links South Africa small-scale fishermen organisation. She said that snoek (a type of mackerel found in southern hemisphere) runs were fewer.
LEGAL CHALLENGES
According to the constitution of South Africa, any mining company is required to consult with local communities before launching a project. A legal dispute can result if you fail to comply.
In October 2024, PTWC released an app named Ripl to enable people to send their comments, appeals and objections related to mining projects directly to the government and to the mining companies.
They call for an immediate moratorium on any mining that is planned until a complete social and environmental evaluation of the coast has been completed.
(source: Reuters)