Latest News
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Tesla and Australia's Syrah extend deadline for resolving alleged default on graphite supply contract
Syrah Resources, an Australian graphite mining company, announced on Monday that it had agreed to extend to June 1 a deadline for resolving a alleged breach of a graphite supplying agreement with Tesla. Tesla issued a previous notice alleging Syrah had failed to comply with an obligation to supply natural graphite AAM samples from its Vidalia plant in?Louisiana. The notice stated that Syrah must cure the alleged default before March 16 or else Tesla may terminate the offtake agreement for supply from Syrah’s 11,25 kilotons per annum AAM facility located in Vidalia. The companies have agreed to extend the deadline of the agreement to June 1, subject to approval by the U.S. Department of Energy. The contract, which is worth 8,000 tonnes annually over four years, will support Syrah Vidalia and its strategy to become one of the largest?U.S. Suppliers of non-Chinese Graphite. Tesla, based in Texas, issued its first default notice on July 20, 2025. It said that Syrah had failed to deliver active anode samples from Vidalia's processing facility. Syrah announced on Monday that it "doesn't accept" that it was in default, but that the two parties had agreed to extend a cure date until?June 1, while they work together? to resolve?the problem. As of 2302 GMT, shares of Syrah rose 2.9% to A$0.175. (Reporting and editing by Sonali Paul in Bengaluru, Roshan Thomas from Bengaluru)
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EU to discuss bolstering Mideast Naval Mission amid Iran War Terror
Diplomats and officials claim that the European Union's foreign ministers are expected to discuss Monday the augmentation of a small naval operation in the Middle East, but they will not?decide? on extending the mission to the blocked Strait of Hormuz. Aspides, the EU's mission in the Red Sea to protect ships against attacks by Yemeni Houthi rebels was created in 2024. The mission currently has two Italian and Greek ships under its command, and it can call on a French vessel and another Italian ship for assistance. Some European officials have wondered if the EU mission can help restore the freedom of navigation to the Gulf. The Strait of Hormuz has been largely closed since the United States, Israel and Iran began their attacks on Iran in February. Iran's ability to "choke off" traffic through the Strait of Hormuz, which is the conduit for about a fifth (or more) of the world's oil and natural gas liquefied, has become a major concern for the global economy. The EU officials and diplomats have said that the ministers' discussion on Monday will likely be centered?on an initiative by EU?foreign-policy chief Kaja Kallas, to add more vessels to the mission. The conversation on Monday is about getting more member states to contribute additional capacities, said a senior EU Official speaking under condition of anonymity in order to discuss internal discussions. GERMAN MINISTER SKeptical ABOUT EXPANSION INTO STRAIT of HORMUZ German Foreign Minister Johann Wadephul stated on Sunday that Aspides, named after the Greek term for "shields", was not effective at completing its current task. In an interview with Germany’s ARD TV, he stated: "I am very sceptical about the idea that extending Aspides into the Strait of Hormuz will provide greater security." U.S. President Donald Trump called on China on Saturday to join the effort to reopen shipping routes. He also called on France, Japan and South Korea to do the same. Officials have stated that France is seeking to form a coalition in order to secure the Strait of Gibraltar 'once the security situation stabilises.' Meanwhile, Britain has discussed a variety of options with its allies to ensure the safety of shipping. Diplomats and officials said it was too early to determine whether the EU could play a part in such an initiative. All 27 EU member states would have to approve any change in the mandate of Aspides. A diplomat from the EU said, "Ministers will not take lightly the decision to protect ships in the Strait of Hormuz under the current circumstances." (Reporting and writing by Andrew Gray, Lili Bayer and Diane Craft; Editing by Andrew Gray)
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UK's Starmer promises to protect "working people" from conflict fallout
Keir starmer, the British prime minister, will pledge on Monday to help "working people", whose cost of living is being exacerbated by the conflict in the Middle East. He will warn companies not to try to "exploit" this crisis by raising prices. Starmer's latest effort to calm British concerns about the Strait of Hormuz conflict, which has effectively closed the Strait of Hormuz as a vital waterway that transports oil and liquefied gas, will be "to assist you in the cost of living through this crisis". Finance Minister Rachel Reeves announced on Saturday that the government would provide "targeted support" for?poorer families after being under pressure to cap household energy tariffs regulated by the government and to scrap an increase in vehicle fuel duties. A Financial Times report was confirmed by a?government official that the government would set up a 50 million pound ($66.11 millions) package to help the most vulnerable families, primarily those in rural areas who depend on heating oil. Moments like these are what show you the true nature of a government. My answer is simple. This government will always be there for the working class, no matter what challenges may lie ahead," Starmer said in excerpts of his speech released by Starmer's office. He will respond to reports that heating oil suppliers were canceling orders and raising prices: "I won't tolerate companies trying exploit this crisis in order to make money off working people." The companies will face legal action if they have violated the law. The government has warned energy companies before. On Friday, it called petrol retailers to have a "frank" and "open" discussion on pricing. However, the meeting almost didn't happen because the Petrol Retailers Association threatened to pull out due to the ministers "inflammatory language". Reeves, in an interview with The Times published on Saturday, said that the government is looking into options to help those?vulnerable to sharp increases in energy prices?, particularly those who rely on heating oil. However, he ruled out universal assistance for all households because it would not be affordable. Starmer and his team believe that the best way to stop the rise in energy prices is to de-escalate things. He will state that "we will continue to work towards a rapid resolution of the Middle East situation." There is no doubt that ending the conflict is the fastest way to lower the cost of living. ($1 = 0.7563 pound) (Reporting and editing by Andrew Heavens; Elizabeth Piper)
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Australia's Lynas signss US rare-earth oxide supply deal
Australia's Lynas Rare Earths announced on Monday that?its unit Lynas US LLC had signed a binding letter of intent with the U.S. government to finalise an agreement for rare earth oxide supplies. According to the agreement, the Pentagon will spend $96 million on Lynas's light and heavy rare-earth oxide products, with an NdPr oxide floor price of $110 per kilogram. Lynas stated that the letter of intent outlines a framework for four-year supply agreement to support U.S. National Security and Supply-Chain Resilience objectives. It was revealed that the new offtake agreement 'followed a mutual decision by the companies to revise their earlier?agreement because of?uncertainty about the future of the heavy rare earth processing plant in Seadrift Texas. Amanda Lacaze, CEO of Lynas, said: "This agreement will ensure that the U.S. Defense Industrial Base has access to Light and Heavy Rare Earth Oxides which are vital to modern manufacturing." Rare earths are used in a small, but 'critical' amount to power devices ranging from iPhones, washing machines, to F-35 jets. The agreement comes at a time when the United States is trying to secure vital?minerals, and reduce its reliance on China. China produces about?90% the world's rare-earth magnets. Lynas, the largest rare earths producer in the world outside of China.
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Japan releases oil stocks after US orders to buy American
Japan will'start releasing oil from their stockpiles? on Monday in order to ease the shock of the?U.S. - Israeli?war against Iran. This is a stark reminder to the oil crisis that occurred half a century earlier, which prompted Tokyo to build reserves. Tokyo announced that it would release 80 million barrels of crude oil to Japan, which is enough to last the nation for 45 days. The war in the Gulf has disrupted supplies through the Strait of Hormuz. The Japanese government has instructed the country's refineries to use the crude oil released, which will reduce national reserves by 17% to ensure domestic supplies. The amount of oil that will be released to the 400 million barrels coordinated by the International Energy Agency is unknown. RESERVES STABILISE SUPPLY, BUT "MAINLY BUILD TIME" Yuriy humber, CEO of Tokyo-based consultancy Yuri Group, stated that the release by Japan shows how seriously Tokyo views disruption. The reserves are a short-term stabiliser of supplies and prices, but they mainly serve to buy time. He said that they can't "fully offset" a disruption of the Strait of Hormuz. The Ministry of Economy, Trade and Industry states that any potential release of 12 million barrels held jointly by Saudi Arabia, United Arab Emirates and Kuwait in Japan would be additional to the 80 million barrels announced. Japan began its national oil reserves system in 1978 - several years after Arab oil embargo. Group of Seven nation that relies on the Middle East to provide around 90% of their oil now stocks 254 days of consumption. METI reports that the government will begin releasing oil from its reserves to cover 15 days of consumption in the private sector on Monday, and one month's supply by late this month. Ryosei Akazawa, METI Minister, said that private companies are preparing to tap into?Japan’s stockpiles. He also stated that they were looking for supplies coming from the U.S.A., Central Asia and South America, as well as Gulf countries, which can bypass the Strait of Hormuz. Japan gets around 4% its oil from the U.S., after stopping most purchases from Russia following Moscow's invasion of Ukraine in 2022 - when Tokyo last used its reserves. Lee Zeldin, the U.S. Environmental Protection Agency administrator said: "When you consider the conflict in the Middle East... it's a reminder that all the?crude?oil that went from Alaska - to Japan - was never the target of a successful terrorist terrorism?attack." This conflict is a reminder to other nations that the United States has the resources. (Reporting and editing by William Mallard; Additional reporting in Washington by Valerie Volcovici; Reporting by Katya Obayashi and Yuka obayashi)
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South32, Australia's South32, mothballs Mozal after failing to find affordable power
South32, an Australian diversified miner, announced on Monday that it had put its Mozal aluminum smelter in Mozambique under a 'care and maintenance' program on March 15. The company claimed that it was unable to secure a sufficient and affordable supply of power for Mozal after March 2026. As a result, it placed the smelter in care and maintenance. The Perth-based company and Mozambique’s government and energy suppliers have been negotiating for years in order to come up with an agreement that would allow the smelter to continue its energy-intensive operations. South32 has been in discussions with Hidroelectrica de Cahora Bassa, a hydroelectric power'supplier owned by the Mozambique Government for over six years about a tariff that is set to expire on March 20, 2026. Aluminium production is an energy-intensive process, so a reliable power supply for aluminium manufacturers such as South32 is a major concern. Mozal, in which South32 has a stake of 63.7%, is a major contributor to the aluminium output for South32, accounting for just under 29% of total aluminium production by fiscal 2025. South32 reported a $372-million impairment to the Mozal Smelter as part of its fiscal year 2025 results. This was due to the financial impact from the shutdown. In a statement, the company stated that the alumina sold to Mozal by the?Worsley Alumina Refinery?will be sold to third-party customers at index linked prices.
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Sassou, Congo Republic's Sassou, seeks a new term amid low turnout and internet outage
The Congo Republic held a presidential election on Sunday, which was expected to extend the reign of Denis Sassou Nguesso - one of Africa's most experienced leaders. A low turnout highlighted the lack of suspense about the result. Sassou is facing a "weak" field of opponents, as two of the most well-known opposition leaders are in prison or exile. Many opposition parties boycotted this election because they felt the process was untrustworthy. Analysts and civil society groups predict that the turnout will be lower than the 68% in 2021 when Sassou was elected to his five-year term with 88.4%. A witness reported that there were no or very short lines at the polling stations of Brazzaville's capital. Sassou, after casting his vote in Brazzaville told reporters that he hoped the?enthusiasm he saw on the campaign trail?would be apparent in the final turnout number. He said: "We are hopeful that the things I heard during the campaign will come to pass today." The voting was to finish at 6 pm local time (1700 GMT) and the counting would begin immediately afterwards. The provisional results will be available 48-72 hours after polls close. INTERNET OUTAGE REPORTED Sassou has been in power since 1979, with the exception of a five-year break in the 1990s. He ran against six candidates who were not well-known, and none of them was considered a serious contender. The electoral body was dominated by figures aligned to the ruling Congolese Labour Party. Remadji Hoinathy, of the Institute for Security Studies in Pretoria, said that "the opposition is fragmented" and does not have a "strong, emblematic figure". Sassou will still have a chance despite voter fatigue. Internet monitoring group NetBlocks reported that the internet was down in many parts of the country on Election Day, making it hard to get an accurate picture of what was happening. In an email, Alp Toker of NetBlocks confirmed that a nationwide internet blackout was now in place in the Republic of Congo. This measure is likely to limit transparency in today's elections. Toker stated that this was "technically compatible" with a?internet shutdown imposed for the 2021 presidential election. Neither the Congolese Prime Minister Anatole Collinet Makosso nor the Communications Minister Thierry Moungalla responded to inquiries about the outage. Voters See No Hope for Change Rights groups claim that the political space in Congo has shrunk in recent years. They cite arrests of activists, and suspensions by political parties. After a long decline, the economy - heavily dependent on crude oil - has stabilised over the past few years. According to the World Bank, 52% of Congo’s 6.1m people live in poverty. Some Congolese who voted said that the country needs a new direction. They did not specify whether they backed Sassou, or his opponent. Gigi Wandiabantou, a Brazzaville resident, said: "Our children have diplomas and they are not doing anything." "I'm counting on the people in charge to do something for us mothers." Some Congolese believe there is little hope for change. Frederic Nkou, a Brazzaville resident who is unemployed, said: "It's a?election with a known outcome." "I don’t expect things will improve." Makosso, the Prime Minister, dismissed allegations of pro-Sassou slant ahead of Sunday's vote. He argued that Congo's electoral oversight bodies will ensure a fair and transparent election. Sassou's campaign has been based on continuity. He has pledged to expand education and training and to speed up development projects. Clement Bonnerot, Ngouda Diaone and Robbie Corey Boulet in the Dakar and Congo Republic Newsroom. Editing by Andrei Khalip Joe Bavier Alexander Smith
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Netanyahu responds to Iran's rumours about his death by posting a video
Benjamin Netanyahu, Israeli Prime Minister, posted a video on Sunday of him 'getting a coffee and' chatting with an aide after rumours of his death or injury were spread by the iranian state media. In the video taken in a café on the outskirts of Jerusalem and posted to Netanyahu's Telegram, his aide questions him about the rumours. As he grabs a coffee, Netanyahu makes a joke about the word "dead" -- which in Hebrew slang is used to refer to someone or something that you are "crazy for". "I love coffee. You know what? Netanyahu tells his aide, "I'm mad about my people." The video's location was verified by comparing the file images of the cafe with the interiors shown in the video. The cafe posted multiple photos and videos of Netanyahu's Sunday visit. This allowed us to verify the date. Netanyahu's office distributed videos and limited media access since the U.S. launched its attack on Iran in February. He has also visited two towns that were hit by Iranian missiles as well as a hospital, port, military base and a?port. Netanyahu, who rarely gives interviews or news conferences to Israeli media, held a 'first press conference via video link since the beginning of the war on Thursday. This format was similar to that he used in June, during Israel's 12-day conflict with Iran. Since the beginning of the war, Israel has imposed emergency safety restrictions that have banned public gatherings. Most people are now at home or in safe rooms and shelters. Schools across the majority of the country are closed.
Andy Home: Myanmar mine still a major player in the tin market
As the market waits for the Man Maw Mine to return in Myanmar, tin continues to outperform other base metals on the London Metal Exchange.
Two years have passed since the mine was shut down for a resource assessment. Six months have passed since the authorities of the semi-autonomous Wa State invited new applications for mining permits.
There is still no sign of a significant increase in activity. The flow of tin concentrats from Myanmar into neighbouring China is almost completely dry.
The uncertainty surrounding Man Maw led to a resurgence of fund interest in tin, which pushed the LME 3-month tin prices from less than $30,000 per metric tonne in April to over $35,000 by the end August.
The tin supply is still a mystery to many speculators.
WAITING FOR MAN MAW
China's decreased imports of tin from Myanmar is a clear indication of the continued absence of Man Maw supplies.
The flow of raw materials to Chinese smelters fell to 933 tons in the month of July. This suggests that activity has not yet resumed at Man Maw, and that other smaller mines in the country are also experiencing disruptions, perhaps due to the March earthquake that shook the country.
Imports from Myanmar in the first half of this year have dropped by 77% compared to last year, and now total just 14,200 tonnes. Comparatively, the monthly average imports in 2022 and 2023 were 15,000 tons, when Man Maw still produced tin.
The International Tin Association announced in July that the first permits for the mining of Man Maw had been issued.
The Association warned it would be some time before actual tin production resumed and exports recovered.
It has been proven.
No Scratch
China's tin-smelters have been able to compensate for the loss Man Maw, which was their primary source of supply until August 2023 when it was suspended.
This year, the Democratic Republic of Congo emerged as a major supplier of tin concentrats. Imports from Australia and Nigeria also increased sharply.
The total imports through July of 73,000 tonnes are down 32% on an annual basis.
According to Shanghai Metal Market, the margins of Chinese smelters have been squeezed. Capacity utilisation in many areas of China was less than 70% last month.
Many operators carry less than 30 day's worth of concentrates and take maintenance time in the hopes that raw material availability will improve when they return.
Yunnan Tin is the largest producer of refined Tin in the world. It has shut down its Gejiu Smelter for 45 Days for its annual maintenance.
The loss of Man Maw, however, has not yet caused any visible tightening in the refined metals segment of the supply chains.
The global exchange inventory is stable at over 11,000 tons for the past three months. This is a far cry compared to the days of true scarcity, in 2021, when stocks were down to 1,000 tons.
Exports from Indonesia are recovering from the disruption caused by last year's permits. Exports of 30,000 tonnes to July 2024 were 64% higher than the same period in 2014.
The escalation of trade tensions between China and the United States has also likely helped. Tin is used in the electronics industry to solder circuit boards.
BULLS RETURN
Tin bulls remain unabated. Funds increased their bets for higher prices up to 4,515 LME (22,575 tonnes), while short positions were reduced to only 610 contracts.
The net positioning has remained the same since March when the price spiked up to a three year high of $38,395 a ton following news that the M23 insurgents had briefly taken control of the Bisie Tin Mine in the Congo.
Bisie quickly returned to normal operations following the M23 withdrawal as part of the U.S.-brokered Peace Deal between Congo and Rwanda.
Man Maw remains conspicuous in its absence. Funds appear to be betting on the fact that production will not return to levels seen before closure.
It's impossible to know if that assumption is correct, due to the near complete lack of information coming out of Wa State.
When the raw material flow over the border into China begins to return to historic norms, the answer will be apparent.
These are the opinions of the columnist, an author for.
(source: Reuters)