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Cepeda, a Colombian leftist, says he will accept the election results but does not rule out protests
Ivan Cepeda, the leftist candidate for president in Colombia, said that he will accept the results of this month's runoff vote - even if it does not favor him. He also called on his supporters to 'protest peacefully' if their rights were not respected. Cepeda is a 63 year old senator who has been an ally to President Gustavo Petro for many years. He will be facing right-wing lawyer Abelardo De La Espriella on June 21, in what should be a difficult runoff. Cepeda, a 63-year-old senator and ally of President Gustavo Petro, will face right-wing lawyer Abelardo De La Espriella in what is expected to be a challenging June 21 runoff. Cepeda has pledged to deepen Petro’s social and economy reforms and pursue talks with armed group, while De La Espriella campaigned for a security crackdown as well as more business friendly policies. De La Espriella defeated Cepeda in the first round by 670,000 votes. Although he didn't get the necessary majority to avoid a second-round, he will likely draw support from other right-wing candidates who are now out of contention. "I am a democrat. Cepeda stated in an interview Tuesday night that he was a democrat, but that did not excuse him from his responsibility to ensure that the results were transparent. Cepeda acknowledged the results of the first round a week after the election, initially citing an error in the electoral list and unusual voting at certain polling stations. De La Espriella claimed this week, without providing any evidence, that he knew of a alleged plan to start violent protests by the left if he won. Cepeda stated that he would only 'call for protests' if the rights of people were violated. Cepeda, who rejects violence, said: "I call upon the people to defend themselves through constitutional and legal methods." Cepeda said that while the exercise is important for institutions to function, it is equally important that citizens are engaged. If Cepeda is elected, he will seek to implement deeper reforms in healthcare, education, and pensions. He also plans to distribute land to farmers to help make Colombia a global agricultural power. He said that he would rather reach an agreement with business leaders in order to reduce tax fraud and provide resources to his government than pursue tax reforms through congress. He said that a fiscal agreement, or tax pact would be better than a reform which could not be popular with all sectors of the economy. Cepeda stated that it would be hard to revive oil exploration under his possible government because Petro's prohibition on new exploration has shifted focus in the economy and the environmental policy must recognize an "intense" crisis. He said that he was open to the possibility of gas exploration and mining. Cepeda stated that the relationship with the United States - Colombia's largest trading partner - whose government had repeatedly clashed with Petro - will be "managed with sovereignty and respect" to "build innovative bilateral?solutions". Cepeda stated that he would seek to promote peace talks with illegal armed groups, in order to bring an end to six decades of conflict, and he would also work to pass legislation to allow criminal groups to receive legal benefits when they disarm. Petro's attempts to demobilize over 20,000 combatants has shown little tangible results, and armed group membership has increased by thousands during his tenure. Reporting by Luis Jaime Acosta, Nelson Bocanegra and Julia Symmes Cobb. Editing by Sanjeev MIglani and Julia Symmes Cobb.
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Abu Dhabi's wealth fund L'IMAD acquires stake in utility TAQA
Abu Dhabi's newest sovereign fund, L'IMAD 'Holding', led by the emirate’s 'crown prince', has increased its share in state-owned 'power and water utility TAQA' by a further '8.09%', TAQA announced on Wednesday. Abu Dhabi Power Corporation (a subsidiary of the fund) has completed the purchase of 9.1 billion TAQA share, bringing the total of its shares in the company to 98.12%. TAQA announced this in a bourse statement. In a separate filing, Two Point 'Zero Group stated that it sold TAQA's entire stake to AD Power in order to continue its "ongoing strategic aims and portfolio optimization." The company did not disclose financial details. According to calculations based upon TAQA's close share price of the same day, the?stake purchased by AD Power would be valued at around 21,56 billion dirhams (5.87 billion dollars). Abu Dhabi is the home of sovereign funds that collectively manage assets worth more than $1.8 trillion. L'IMAD gained a global reputation last year when it was one of the Gulf's backers in Paramount Skydance Corp's bid to buy Warner Bros Discovery. After acquiring control of ADQ, it has become a?major investment player with assets estimated at $300 billion. The?Crown Princess Sheikh Khaled Bin Mohamed bin Zayed Al Nahyan of Abu Dhabi chairs the board.
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UK consults on steel tariff plan following warnings from users
The government is seeking input from the industry regarding a new steel tariff regime. This comes after the users of metals warned that the scheme would be very costly for their businesses. As other countries in the European Union and Britain, they are concerned about the "dumping" high subsidised steel from countries like China. In March, Britain proposed a reduction in its tariff-free allowance for imported steel, and a doubling of the tariff on imports that exceeded this allowance. This new trade measure, which is due to take effect on July 1, was warmly welcomed by British steel producers. The British Chambers of Commerce warned that "real financial and logistical problems" would be faced by steel-consuming industries, including construction, engineering, and manufacturing. A spokesperson for Business and Trade stated that the trade measure aims to "strike the right balance between domestic production and maintaining a reliable supply". The spokesperson said: "We have always stated that we would review the measures after a year to make sure they remain effective. We are doing exactly what we promised." Sky News reported on possible changes to the plans. It said that a greater number steel products could be "exempted" from the restrictions. UK Steel, an industry group, said that it would support specific amendments and didn't believe accepting them would be a reversal. It also added that it itself had proposed changes to assist other sectors in obtaining the steel they needed. The group has worked with manufacturers to identify areas that need to be amended to "ensure the measure offers the protection steelmakers require while causing as little disruption to the wider manufacturing sector", according to Gareth Stace. The UK and the EU are currently in discussions over their respective steel measures. UK Trade Minister Chris Bryant had previously indicated that both sides would be able come to an agreement on mutually beneficial exceptions. Reporting by Alistair Smout and Muvija M, writing by Alistair Smout and editing by William James & Jan Harvey
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Report: Indonesian floods killed at least 7% orangutans, a rare species.
A 'new report' released on Wednesday shows that deadly floods and landslides in Indonesia last year wiped out at least 7% of Tapanuli orangutans, which are critically endangered. Floods and landslides caused by a cyclone in Sumatra last year killed at least 1,200 and destroyed around 300,000. Environmental groups blamed the deforestation on Sumatra for the severity of the damage. The report cited a'survey of the western block in the forest which is home to the majority of the 800 primates. The report was a joint study of Borneo Futures in Brunei, World Weather Attribution, and Liverpool John Moores University. It did not cover the rest of the forest. This means that the death toll may have been even higher. Satellite images of damage to Batang Toru's West Block and historical records about the orangutan populations there were used to derive the findings. The study found that climate change caused by humans has increased extreme rainfall in the Malacca Strait area, which puts the habitat of the Tapanuli Orangutan at greater risk. Erik Meijaard, the lead author, from Borneo Futures said that the heavy rains soaked up the soil to the point where large areas of hillsides in the primary forest collapsed into fast-moving landslides. He said: "If you are caught as an orangutan... If anything falls at high speeds, your chances of survival will be minimal. This is a very real concern." This level of?loss is?substantial' for a species that has such a low total population. Meijaard said that when combined with other pressures, such as habitat destruction and conflict between humans and wildlife, it makes it even more urgent to implement and properly resource a coordinated species action plan. Panut Hadisiswoyo is another researcher who urged the Indonesian Government to work with researchers and NGOs to prevent the further decline in orangutan populations. "We can minimise poaching and hunting, then we'll probably be able to stabilise the population," he said. He added that all parties should pay attention to poor land use, which contributes to the decline in the population. (Reporting and editing by Gibran Pshimam, David Stanway and Ananda Teresia)
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Lebanese reports say that 13 people were killed by Israeli airstrikes in the south of Lebanon
Lebanese sources of security said that Israeli airstrikes killed at least 13 people in southern Lebanon on Wednesday. Israel continued its campaign against Hezbollah, and the Iran-backed group claimed to have launched 'fresh attacks' against Israeli forces. National News Agency, the official state news agency, reported that nine people were killed in Dayr Debba village, located 8 km (5miles) east of Tyre. After an Israeli airstrike, footage showed cars on fire in the southern city of Sidon. Lebanon is still a major frontline of the Middle -East conflict more than 'three months after the U.S. and Israeli attack on Iran sparked the conflict. The Lebanon war sparked escalation in the ?wider conflict earlier this week, when Israel struck Beirut's ?Hezbollah-controlled southern suburbs, prompting Iran ?to retaliate with a missile attack on Israel, which in turn struck Iran, before Israel and Iran halted attacks. According to the Lebanon's Health Ministry, Israeli attacks have killed almost 3,700 people in Lebanon since March 2. 730 were women, children, or doctors. Authorities also claim that 1.2 million people in Lebanon have been forced from their homes. Hezbollah entered the war on 2 March, claiming it was in retaliation for the killing of Iran's supreme leader at the beginning of the conflict. According to a list of Israeli military announcements compiled since then, 28 Israeli soldiers have died in combat in Lebanon. Meanwhile, four civilians were killed by Hezbollah in attacks. The Lebanese army reported that a Lebanese man died on Wednesday, March 18, from injuries caused by an Israeli airstrike. Reporting by Alexander Cornwell, Jerusalem; Writing by Tom Perry and Editing by Alexandra Hudson
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The gold output of Ivory Coast is expected to increase in 2026, as the mines expand
Director?general of mines for Ivory Coast, the West African country, said that gold production is expected to increase from 59.33 tonnes in 2025 to 62 metric tonnes in '2026 as existing?mines expand their operations. Seydoucoulibaly predicted that production would increase to 63 tonnes in 2027, and to around 69 tonnes in 2028. There are currently 14 gold mines operating in the world's leading cocoa producer. He said that the number of gold mines in operation will increase to 15 within two years, with the Kone mine coming online, and 17 in three, when the Doropo mine and the?Tanda Mine come online. Ghana is the largest gold producer in Africa, with a?output? of 187 tons last year. This data was provided by the World Gold Council. Ivory Coast authorities are trying to reduce the gap in their efforts to diversify their economy. Coulibaly stated that "in recent years, Ivory Coast became increasingly attractive for gold exploration. The growing interest of domestic and international investors?is a testament to this attraction." He stated that the government had granted 151 permits out of the 189 applications in 2023, 160 of the 203 in 2020, and 171 of the 225 in 2025. This reflects the growing interest of investors in this sector. Coulibaly stated that the Ministry of Mines and Petroleum, Energy and Planning plans to use SIREXE (an international exhibition on extractive resources and renewable energy) in Abidjan, from November 18-22, to "showcase" new mining projects, and to attract foreign investors. Mining companies operating in Ivory Coast are Roxgold, Perseus Mining and Resolute Mining from Australia and Endeavour Mining of the UK. Reporting by Loucoumane Colibaly, Editing by Clement Bonnerot & Joe Bavier
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Ukraine Police chief: Russia recruits young girls to kill Ukrainian servicemen
Ukraine's police chief accused Russia of recruiting teenage Ukrainian girls to kill Ukrainian soldiers, after the arrest of 17-year old girl suspected of killing a serviceman under the orders of a Russian agent. Ivan Vyhivskyi, the national police chief, said in an interview with Ukrainian media outlet Cenzor.NET published on Wednesday that there had been six cases this year of contract killings organized via Telegram messaging application, of which one was prevented. He said: "We're talking about planned killings, organised by special services of the aggressor country and committed by Ukrainians." The FSB, Russia's security service, was not immediately able to comment. Russian security services have accused Kyiv for recruiting Russians to bombings in Russia. Ukrainian military intelligence has also claimed responsibility for the assassination of several senior Russian officers following Moscow's invasion in 2022. Vyhivskyi claimed that Russian recruiters find young women through messaging platforms. They promise them easy money, and coordinate their actions remotely. Vyhivskyi stated that the young women were told to look for Ukrainian military personnel in dating websites and they received money from their handlers so that they could rent apartments. He said they were told where to get methadone for laceing drinks. Methadone is a'synthetic opiate used as a painkiller, which can be deadly in high doses. Ukraine's security services has said that more than 1,100 Ukrainians were accused of arson, terrorism, or sabotage as a betrayal?of their own country during the war. Last week, police detained a woman aged 17 in Zhytomyr, a western region. They said that she was 'communicating via Telegram' with a man who they believed to be a Russian intelligence agent. Police said that she had received a package containing a substance investigators assumed to be methadone. (Reporting and editing by Daniel Flynn, Timothy Heritage and Anna Pruchnicka)
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Report: Indonesian floods killed at least 7% orangutans, a rare species.
A new report published on Wednesday shows that deadly floods and landslides last year in Indonesia's Sumatra have?wipedout at least 7% the population of the critically endangered Tapanuli Orangutan. At least 1,200 people were killed and 300,000 homes damaged by the landslides and floods caused by the cyclone. Environmental groups blamed the deforestation on Sumatra for the severity of the damages. The report stated that at least 58 Tapanuli Orangutans were killed by the floods. These orangutans are native to north Sumatra, and live in an area near Batang Toru Forest. This forest is also home to the majority of 800 primates. The report, a joint research by Borneo Futures in Brunei, World Weather Attribution, and Liverpool John Moores University did not include the other areas of the forest. This means that the death toll may have been higher. Satellite images of damage to West Block of Batang Toru, and historical records of orangutan populations there were analysed. The study found that climate change caused by humans has increased extreme rainfall in the Malacca Strait area, which puts the habitat of the Tapanuli Orangutan at greater risk. Erik Meijaard, the lead author, from Borneo Futures said that the heavy rains soaked up the soil to the point where large areas of hillsides in primary forests collapsed into fast-moving land slides. He said: "If you are caught in the act of being an orangutan... If anything falls at high speeds, your chances of survival will be very minimal. This became a concern." This level of loss is substantial for a species that has a relatively small population. Combining this with other pressures, such as habitat destruction and conflict between humans and wildlife, further increases the urgency to implement and properly resource a coordinated species action plan. Panut Hadisiswoyo is another researcher who urged the Indonesian Government to work with researchers and NGOs to prevent a further decline in the orangutan populations. "We can minimise poaching and hunting, then the population will probably be stabilized," he added, adding that everyone must also pay attention to poor land use, which contributes to the decline in the population. (Reporting and editing by Gibran Pshimam, David Stanway, and Ananda Teresia)
INSG's newest forecasts cold convenience for nickel manufacturers: Andy Home
Nickel has rallied hard this month, clawing back a few of the area lost throughout its ruthless rate slide throughout 2023.
London Metal Exchange (LME) three-month nickel touched $19,775 per metric ton on Monday, the greatest it has traded since September in 2015.
Last at $19,045 per heap, nickel is up by 15% considering that the start of the year, the 3rd strongest performance after tin and copper.
Belief has actually improved as low costs have exacted a rising toll on nickel producers. Numerous operators have actually closed or curtailed capacity due to the fast increase of lower-cost Indonesian production.
BHP Group, which is mulling the fate of its Western Australian operations, warned last month that 30% of Australian mine capability had actually gone off-line and another 30% remained in problem due to the capture on margins.
The uncontrolled supply action to low prices has decreased the excess of metal hanging over the marketplace, but it hasn't. eliminated it.
The world is still dealing with a third consecutive year of nickel. oversupply, according to the International Nickel Study Hall. ( INSG).
SURPLUS CUT
The INSG is now anticipating nickel supply to go beyond demand. to the tune of 109,000 heaps this year after surpluses of 98,000. and 163,000 heaps in 2022 and 2023 respectively.
The scale of over-supply has actually been cut because the group. last satisfied in October. Back then it was anticipating substantially. larger surpluses of 223,000 and 239,000 loads in 2023 and 2024.
The INSG has cut its refined production price quotes to show. the lengthening list of cost casualties. In 2015's supply has. been reduced by 60,000 tons and this year's by 160,000 heaps. relative to October's diagnosis.
Nevertheless, global production is still expected to grow at a. robust 5.9% this year thanks to Indonesia's continuing. production boom. Chinese production of refined nickel is also. increasing on the back of speeding up imports of intermediate. items from Indonesia.
Global use is forecast to rise by a healthy 7.9% this year. but the INSG has actually also cut that development rate from October's. forecast 8.7% growth.
Stainless steel, which has historically been the largest. user of nickel, had a strong 2023 with melt shop production. increasing by 5.4%.
Need development from the electric automobile (EV) battery sector,. by contrast, has been less than prepared for, the INSG stated.
Part of that is down to a more comprehensive slowdown in the EV market. however nickel is also facing particular headwinds from a revival. in nickel-free lithium-iron-phosphate battery chemistry.
MORE METAL
Up until just recently the glut in nickel was mostly restricted to. the intermediate items section of the production chain.
But Indonesian and Chinese manufacturers have actually crossed the. processing difficulty of converting Indonesia's low-grade ore into a. form that can be more fine-tuned into pure metal or. battery-precursor nickel sulphate.
Surplus has actually been progressively cleaning over into the improved. metal segment of the marketplace.
LME nickel stocks have actually restored from a low of 37,000 heaps in. August in 2015 to an existing 76,878 loads.
Sanctions forbiding the trading of Russian metal produced. after April 12 might have been expected to rattle the marketplace.
Russia's Norilsk Nickel is a significant manufacturer of the Class I. refined nickel traded on the LME and Russian brand nickel. accounted for 36% of required tonnage at the end of March.
However the LME has been fast-tracking applications from the new. generation of Chinese manufacturers to have their brand names listed.
5 Chinese brands, representing 92,000 lots of yearly. capacity have actually been noted in the last 6 months. While there. was no Chinese nickel in LME stocks last August, there were. 6,912 lots at the end of March.
The LME is also processing an application for the listing of. a very first Indonesian brand name produced by PT CNGR Ding Xing New. Energy at a yearly rate of 50,000 tons.
These brand-new players will supply an essential offset to the. loss of future Norilsk production from the LME liquidity mix.
FUND MOMENTUM
Funds have probably played a larger role than basics. in the current healing rally.
Investment funds were sitting on a record short position of. 47,802 contracts, equivalent to 287,000 heaps, as just recently as. February.
That has been greatly decreased to 32,688 lots since last. week's close with long positions all at once picking up in. tandem with the upwards rate momentum.
Cash managers are now net long of London nickel to the tune. of 4,684 agreements, the most bullish placing given that February. in 2015.
With the majority of the short-covering now completed, the marketplace. will require some fundamental impetus if the rally is to be. extended.
The INSG's newest projection surpluses are a lot less challenging. than those from October but this is a market that is still. dealing with another year of oversupply thanks to Indonesia's. continuing nickel boom.
The ramification is that further supply adjustments are. needed, which is not good news for the remainder of the world's. producers.
The opinions revealed here are those of the author, a. columnist .
(source: Reuters)