Mining

The head of Schindler, a Swiss?lift manufacturer, said on?Tuesday that the company will contest any?merger between rivals Kone Elevator and TK Elevator in front of antitrust authorities. Bloomberg News reported last 'week that Finland's Kone is in talks to purchase TK Elevator. The merger would make Schindler the second largest lift manufacturer in the world, surpassing the current leader OTIS. Schindler CEO Paolo Compagna stated that the deal would be "a bloodbath", bound to disrupt the lift industry as the world's third and fourth largest lift manufacturers would have to integrate overlapping customer bases and production sites, and teams. Compagna...

According to sources familiar with these talks, Canada and South 'America's Mercosur are moving towards a free trade agreement. It could be signed before the end of this year. One official from Canada, Argentina, and Brazil said that they expect the deal to be completed in 2026. Another stated that discussions are progressing well, and could be finished before September. An official from the Argentinean government said that an agreement would be expected to be signed by September or October. This will mark roughly a year after formal negotiations were restarted. A second diplomat based in Brazil also confirmed that...

Codelco (Chilean state-owned) is the largest copper producer in the world. It reported on Friday a profit before tax of $4.85 billion by 2025. The company reported that it had produced 1.33 million tons of pig iron through December, an increase of 0.5% over 2024. The state-run company also reported earnings before taxes, depreciation, and amortization (EBITDA), which was $6.67 billion in 2025, a 23% rise compared to the year before. Codelco reported that production at its Ministro Hales and Radomiro Tomic mines, and at the Salvador mine, helped offset declines at Chuquicamata, Gabriela Mistral and due to geological factors....

Singapore announced plans to transform the city-state of Singapore into a gold trading center for the entire Asia. Regulators and industry players are working together to improve the trading, clearing, and storage infrastructure. Singapore is one of many Asian financial centers racing to increase their gold trading and capture more bullion flows. Hong Kong, too, is pushing to expand the gold market's links with Shanghai. The Singapore Bullion Market Association and the Monetary Authority of Singapore have identified four areas of focus. These include the expansion of gold-related products on the capital markets and the establishment of a trust clearing...

John Axelberg's best customer recently asked him to invest $800,000.00 to double the production of tubular frames his factory produces for large-scale solar farms. He said no Axelberg’s small metal-forming business's solar division fueled the company's 30% revenue increase last year, thanks to tax incentives from the Inflation Reduction Act, passed by President Joe Biden. However, the rest of the industries Axelberg serves, including heavy trucks and farm equipment, were collectively down 20%. He is also concerned about solar. Donald Trump has said that his policies will unleash a new American manufacturing boom. In industrial communities like South Bend, however,...

France is one of the countries that will invest in critical Australian minerals projects, according to Australia's Resources Minister on Thursday. Canberra's framework agreement with the U.S. encourages nations with advanced manufacturing industries to secure access to supply. Australia is on a mission for the past four years to create an industry that will produce?minerals? like rare earths, which are essential to technologies in future such as electronics and defense. Countries want to diversify away from China as their dominant supplier. Australia signed agreements with Japan, South Korea and India as well as France, Germany, Britain, France and Germany for...

Albemarle, the largest lithium producer in the world, announced on Wednesday that it had begun the environmental review process for its first Direct Lithium Extraction project (DLE) in Chile. Albemarle stated in a press release that the project was designed to recover twice as much lithium while reducing the amount extracted of brine compared?to the current operations. Albemarle said in a submission to the Chilean Environmental Assessment Agency that if the project were completed, it would require a total investment of $3.1 billion with a useful lifetime lasting until 2045. The initiative is aimed at a?more sustainable and efficient production...

Prices of copper rose on Wednesday as a weaker dollar and renewed hope for a 'de-escalation' in the Middle East war helped to boost?demand? prospects. The Shanghai Futures Exchange's most traded copper contract ended daytime trading up 1.14%, at 95,590 Yuan ($13.864.67) per ton. As of 0722 GMT, the benchmark three-month copper price on London Metal Exchange rose 1.19% to $12,244.5 per tonne. Both copper prices in Shanghai and London 'lost ground' on Tuesday, as rising energy prices and a protracted Iran war heightened concerns about inflation and global economic growth. The market sentiment improved significantly on Wednesday after U.S....

Goldman Sachs has raised its LME aluminum average price forecast for the second quarter to $3,200 per tonne, up from $3,100. They cited a loss of supply due to 'Middle East disruptions' and the'shutdown of Mozal Smelter in Mozambique. LME Aluminium traded at $3.260.50 as of 2215 GMT. Goldman has removed approximately 850,000 tonnes of its supply forecast for 2026. This is due to the reduced production at Qatalum, in Qatar, which operates at 60% following a controlled shutdown. The bank also assumed a 30 percent drop in Iranian production due to damage to the energy infrastructure?and reduced Mozal’s 560,000-tonne...

Japanese shares suffered a loss on Tuesday as investors were not convinced that U.S. President Donald Trump's remarks about delaying the targeting of Iran's energy infrastructure would lead to a breakthrough in the 'Middle East conflict. The Nikkei closed at 52,252.28 up 1.4% after rising by as much as 2,3% in the previous session. The Topix, which is a broader index, rose 2.1% to 3,559.67. It had previously risen as high as 2.6%. Trump postponed his threat to bomb Iran’s power grid because of "productive talks" he had with unidentified Iranian officials. Iran denied it had been in talks with...

Japanese shares retreated on Tuesday as investors weren't convinced that U.S. president Donald 'Trump's remarks about delaying the targeting of 'Iran's energy infrastructure would lead to an end to the Middle East conflict. The Nikkei was up 0.3% at 51,681.73 by 0216 GMT. It had risen as high as 2.3% in the previous session. The Topix index rose 1.1% to 3,526.07 after jumping 2.6% earlier in the session. Trump postponed his threat to bomb Iran’s power grid due to what he called "productive talks" he had with unidentified Iranian officials. Iran denied that it was in talks with the U.S....

Government data revealed that U.S. construction expenditures unexpectedly declined in January due to a general weakness in private projects. Census Bureau of the Commerce Department said that construction spending fell 0.3% on Monday, after a 0.8% increase in December which had been?upwardly re-evaluated. This was the largest?increase ever since April 2024. Economists surveyed by predicted that construction spending would increase 0.1%. Construction spending increased 1.0% in January on an annual basis. Census Bureau still has a lot of data to release after the government shutdown last year caused delays. The spending on private construction projects decreased by 0.6% in January,...

After easing restrictions, India allowed some state firms, including Bharat Electricals and the Steel Authority of India, to purchase critical equipment from China on Friday, according to both a government source and a document. Last month, it was reported that India would ease restrictions on purchasing Chinese equipment after a deadly border clash in 2020. This would allow state-run coal and power companies to import limited quantities of Chinese equipment as shortages and delays grew. India has also since eased its investment restrictions on China. The government order stated that Bharat Heavy Electricals, India's biggest state-run power equipment manufacturer, can...

The Congolese government announced that the Democratic Republic of Congo and China had signed an agreement to enhance cooperation in the mining sector of 'the African nation.' Global powers are jockeying for influence in this strategically significant minerals powerhouse. Congo is the largest producer of cobalt in the world and has vast reserves of lithium, copper, coltan, and other battery metals. Chinese mining companies, led by top cobalt miners CMOC, Zijin and Huayou, already dominate the sector. Beijing is Congo's largest bilateral creditor. Kinshasa is also a target for the United States and other countries looking to obtain the minerals...

Iron ore futures fell on Friday as traders unwound their?supply disruption bets following Tropical Cyclone Narelle's spared of vital port infrastructure in Western Australia. As of 0330 GMT, the most-traded contract for May iron ore on China's Dalian Commodity Exchange?traded at $813.60 ($117.60) per metric ton. The contract has still gained 0.13% this week. On the Singapore Exchange, the benchmark April Iron Ore was $107 per ton. This is a 0.32% decrease. This week, it has fallen 1%. Atilla Widnell is the managing director of Navigate Commodities. She said that iron ore futures will?likely experience a temporary corrective, because traders...

Four sources said that the Middle East conflict had tightened the supply of aluminium. As a result, Japanese aluminium buyers paid a premium between $350 and $353 per metric ton, the highest in 11 years. Japan is the largest Asian importer and the premiums it pays for metals shipped each quarter above the London Metal Exchange cash price (LME) serve as a regional benchmark. The new rate is 79%-81% higher than the $195 premium paid during the January-March period. This marks the second consecutive quarterly increase, and the highest level since April-June 2015. Global producers offered Japanese buyers a premium...

According to traders, inventories of BHP's Jimblebar Fines, a kind of?iron ore?, in some Chinese ports?slid down to a two-month-low after steelmakers?rushed to get delivery?during an one-week?ban?reprieve. Four traders familiar with the matter stated that Jimblebar stocks in 15 major Chinese ports dropped 6% from one week to another, reaching 8.9 million tonnes on March 24. This is the lowest level seen since late January. One of the traders stated that this is the steepest weekly drop since March 2025. Sources requested anonymity because they were not authorized to speak with the media. China Mineral Resources Group, the state-run buyer...

Iron ore futures were higher on Thursday due to a concern over the supply of iron ore from Australia, following the closure of key ports in the Pilbara region because of a cyclone. The most-traded May iron ore contract at China's Dalian Commodity Exchange rose 0.18%, to 817 Yuan ($118.40), per metric ton. As of 0711 GMT, the benchmark April iron ore traded on Singapore Exchange was trading at $107.35 per ton. The operator of the iron ore port said that the key ports were closed on Thursday due to a tropical storm which struck the resource-rich Pilbara region. Pilbara...

The copper price jumped on Wednesday, after the U.S. reported that it was seeking a ceasefire during the Iran War and because of a stronger Chinese demand. However, the market remained cautious -after Tehran denied any negotiations. The benchmark three-month copper price on the London Metal Exchange rose 1.3% at 1030 GMT to $12,257 a metric ton, after falling by 0.6% the previous session. Ole Hansen is the head of commodity strategy at Saxo Bank, in Copenhagen. Israel and Iran exchanged strikes on Wednesday after the Iranian military rejected the assertion by President Donald Trump that the U.S. is in...

Prices of copper rose on Wednesday as a softer dollar and renewed hope for a deescalation of the Middle East conflict boosted?demand prospects. The Shanghai Futures Exchange's most traded copper contract rose by 1.36%, to 95,800 Yuan ($13.916.13) per ton at 0153 GMT. The benchmark three-month copper price on the London Metal Exchange rose 1.49%, to $12281 per tonne. The market sentiment improved significantly after U.S. President Donald Trump stated on Tuesday that Washington was making progress in its negotiations to end the war with Iran and had won an important concession from Tehran. Analysts at Everbright Futures wrote in...

An EU Commission spokesperson said that the European Union was in the "last miles" of negotiations for a trade deal with Australia. The EU is attempting to diversify its trade, reduce its dependence on China, and mitigate the impact of U.S. Tariffs. Since President Donald Trump launched his global tariff offensive in 2017 and China cut back on exports of vital minerals, the European Commission has been accelerating talks to achieve free trade agreements. In the last six months, it has already signed trade agreements with Indonesia and India. The European Commission's President Ursula von der Leyen will be visiting...

South Korean shares dropped more than 6% Monday, closing at their lowest levels in two weeks. The won also fell to a 17-year low as Middle East tensions dampened the appetite for riskier investments. U.S. president Donald Trump and Iran have threatened to escalate the war by attacking energy installations in the Gulf. This could lead to a wider range of hostilities, which would deepen regional crises and increase concerns on global markets. The benchmark KOSPI closed at 5,405.75, down 375.45 or 6.49%. This is the lowest it has been since March 9, and also the largest daily percentage drop...

Iron ore futures rose Monday, boosted?by high shipping rates. Other steelmaking ingredients, such as coking coal, also gained, as countries booked coal cargoes to?use for their energy needs?due to a spike in oil and gas prices. As of 0324 GMT, the most traded May iron ore contract at China's Dalian Commodity Exchange was 0.86% higher. It was trading at 818.5 Yuan ($118.46), a metric tonne. The benchmark April Iron Ore at the Singapore Exchange was down 0.26%, or $107.95 per ton. According to a report from Shanghai Metals Market, iron ore and coke have held up well despite the Middle...

South Korean shares fell on Monday on the back of a geopolitical conflict that has intensified in the Middle East. The won hit a 17-year low. U.S. president Donald Trump and Iran have threatened to?escalate? their war by attacking oil facilities in the Gulf. This could lead to a worsening of regional tensions and increase concerns on global markets. The benchmark KOSPI dropped 289.24 points or 5% to 5,491.96 at 0131 GMT. This was despite a trading limit being activated earlier in the day. The won fell 0.3% to 1,509.4 dollars on the?onshore Settlement Platform, reaching its lowest level since...