Mining

BlueScope Steel’s largest investor, AustralianSuper said on Friday that it supported the Australian company's decision to reject a $9 billion offer from U.S.-based Steel Dynamics and?SGH?. After announcing its increase in stake on Thursday, the pension fund now holds 13.52 % of BlueScope. BlueScope rejected the $A30 offer from?SGH & Steel Dynamics on Wednesday, saying that it was "very significantly undervalued". The company also accused the acquirers of trying to buy BlueScope 'on the cheap. AustralianSuper's spokesperson stated that "we support the BlueScope Board's decision to reject the offer and remain focused on executing the company's strategy, without distraction." The...

Gold prices fell on Thursday, as a strong dollar weighed on investors. They were preparing for a major U.S. employment report due later this week, which will be used to assess the Federal Reserve’s policy and gauge U.S. influence on Venezuela. As of 0539 GMT, spot gold dropped 0.4% to $4435.62 an ounce. U.S. gold GCcv1 futures for February delivery dropped 0.4% to $4444.40. Bernard Sin, Regional Director- Greater China at MKS PAMP, said that traders are weighing increased geopolitical pressures, such as the U.S.'s intervention in Venezuela, against macroeconomic signals coming from the United States. The?dollar remained near its...

BlueScope Steel shares were down by 2% on early Thursday trading after the company turned down an A$13.2 Billion ($8.87 Billion) takeover bid from Australian conglomerate SGH and U.S. based Steel Dynamics. BlueScope's shares were trading slightly below the A$30 per share cash offer, which indicates investors believe a deal can still be struck despite the official rejection by the board. SGH shares traded 0.7% lower on Thursday after BlueScope stated that the offer "significantly undervalued" SGH after trading closed Wednesday. Steel Dynamics shares ended Wednesday's U.S. trade 2.8% lower. Macquarie analysts predicted that the takeover fight would continue. They...

BlueScope Steel's investors are hoping for a A$13.2billion ($8.92billion) buyout bid from SGH or U.S. based Steel Dynamics to win their support in selling Australia's biggest steelmaker. BlueScope shares closed?1.12% higher at A$29.87 on Wednesday, a fractional amount below the A$30 offer per share made public on Monday. The BlueScope board has yet to deliver an official recommendation on the all-cash bid, which was the fourth approach from Steel Dynamics put to the Melbourne-headquartered firm since late 2024. According to the agreement, SGH, owned by Australian billionaire Kerry Stokes would purchase BlueScope, and then sell the North American assets of...

Berkshire Hathaway announced on Tuesday that it had raised the salary for?new chief executive Greg Abel, to $25 million. This is a far greater salary than the $100,000 per year salary that his predecessor Warren Buffett received for over four decades. Abel, who is 63 years old, was appointed chief executive of Berkshire on January 1 after eight years in the role of vice chairman, overseeing Berkshire’s non-insurance business. Buffett set his compensation during this period. It included a $21 million salary in 2020, a $ 20 million salary in 2030, and a $15 million salary plus a bonus of...

Morgan Stanley predicted gold would reach $4,800 an ounce in the fourth quarter, surpassing last year's records. They cited falling interest rates, the change of leadership at the Federal Reserve and central bank and fund purchases. Morgan Stanley also stated in a note dated January 5 that the events of Venezuela over the weekend would likely attract buyers who are looking for a safe place to store their money. However, it did not mention this as one reason why its forecast was $4,800/oz. Bullion reached a record-high of $4,499.71/oz in December and ended 2025 at a gain 64%. This was...

According to analysts, global investors will actively look for opportunities in the financial markets this year that are undervalued as concerns about an AI bubble encourage traders to look past highly valued technology companies. U.S. stock prices were volatile in 2025. They plunged to bear market territory after President Donald Trump's tariffs in April before eventually rebounding to new record highs. Analysts expect the upward trend to continue into 2026. However, investors may need to be selective in their asset selection. BlackRock Investment Institute strategists said that the current environment is ripe for investing actively. The dollar fell on the...

BlueScope Steel, an Australian steelmaker, said Monday that it received a preliminary?takeover bid in December from a consortium consisting of SGH?and U.S. based Steel Dynamics. The offer valued the steelmaker at $8.78 billion (?A$13.15?billion). SGH Ltd, a Sydney-listed industrial conglomerate and Steel Dynamics, a Nasdaq listed company, made a cash offer of A$30 per share on December 12. This represents a premium over BlueScope’s closing price on December 11 and a premium exceeding 22.7% above its Monday close. SGH, owned by Australian billionaire Kerry Stokes, would acquire all?BlueScope shares and sell its North American business to Steel Dynamics. BlueScope’s board...

According to Barclays, activist investors who want companies to improve their performance launched a record-breaking number of campaigns in 2025. Market volatility, favorable financing terms, and increased deal activity created the ideal environment for lobbying for change. Blue-chip activists including Elliott Investment Management and a large number of newcomers launched attacks in 2025 on global companies, urging them to improve operations, replace board members, or even sell themselves. Activists attacked well-known brands like athleisure brand Lululemon Athletica and ride-hailing service Lyft. PepsiCo, the maker of soda and snacks, and Yeti, a cooler and drinkware manufacturer, were also targeted. The data...

Predictive Discovery, an Australian company, said that shareholders of Canada’s Robex Resources had approved a merger worth A$2,17 billion ($1,45 billion), paving the path to creating a mid-tier gold producer in West Africa. Around 94.54% of the votes cast at Robex's meeting special backed the agreement under which Predictive acquired the Canadian gold mining company, with Robex shareholders getting 7.862 fully-paid ordinary shares in Predictive per Robex share. After the merger, Robex shareholders would own approximately 46% of combined entity. The tie-up will create a "more diversified" gold producer in West Africa. Combining Predictive's Bankan Project with Robex Kiniero Mine,...

According to an order from the Finance Ministry published on Tuesday, India has imposed a tariff between 11% and 12% for three years on certain steel products. The government wants to stop cheap shipments coming from China. Locally known as the safeguard duty, the levy will be imposed in three years at a rate of 12% in the first, 11.5% in the second and 11% in third. The measure was published in the official government gazette and excludes imports of certain developing countries. However, China, Vietnam, Nepal, and other Asian countries will be subject to the levy. The levy will...

Canada's main index of stocks closed lower on Monday, as the precious metals rally?paused. This weighed heavily on the mining stocks and started the final?week?of the year with a somber tone. The S&P/TSX 'index?closed 0.32% down at 31,896.59 point. The benchmark was expected to gain about 2% this December, which would be its eighth consecutive month of gains, a streak that has not been seen since 2014. Materials shares fell by 2.88%, while gold shares dropped 4.02%. Silver prices fell 8.3% and gold prices dropped 4.3%. Both were down on the back of investors booking profits due to perceptions that...

According to documents and officials reviewed by, the Trump administration and U.S. Congress will launch a plan to reverse former president Joe Biden's ban on mining in northern Minnesota. This plan is intended to prevent future administrations taking similar measures. The Twin Metals project in Antofagasta, which is one of North America's biggest untapped reserves of these critical minerals, has been developing for the last year. The plan's details have never been revealed before. Trump has refocused on domestic mining projects in the United States, even though his administration continues to push for mineral access. Greenland Ukraine And elsewhere Minnesota's...

Gold prices fell on Thursday as a result of a strong dollar. Investors were preparing for the release of a key U.S. employment report this week, which will be used to assess the Federal Reserve’s policy and gauge U.S. influence on Venezuela. As of 0539 GMT, spot gold dropped 0.7% to $4423.20 an ounce. U.S. gold GCcv1 futures for February delivery dropped 0.7% to $4432.0. Bernard Sin, Regional Director- Greater China at MKS PAMP, said that traders are weighing increased geopolitical pressures, such as the U.S.'s intervention in Venezuela, against macroeconomic signals coming from the United States. The?dollar remained near...

Gold prices dropped more than?1% Wednesday, as investors booked profits following a recent rally. However, it did pare some losses after weaker-than expected U.S. job data increased bets on Federal Reserve rate reductions. As of 11:16 am, spot gold fell 1.1%, to $4,445.32 an ounce. ET (1616 GMT). Prices dropped as much as 1,7% to $4,422.89 in the earlier session. U.S. Gold Futures for February Delivery were down 0.9% to $4,456.10. David Meger is the director of metals trading for?High Ridge Futures. He said, "We view today's pullback as a general profit-taking after that recent surge." Meger said that the...

China's refined copper exports surged to records levels in the last year, as the world's largest buyer found itself in unusual competitive competition with the U.S. As the market values the possibility of U.S. tariffs, the CME's U.S. Copper contract continues to command an attractive premium over the price on the London Metal Exchange. The decision was deferred to June of this year. The ripple effect of U.S. metal delivery premiums is now emptying China's warehouse zones. China's exports jumped from 698.500 tons to 143,000 tons in November. This is already a record for the entire year. The total for...

The gold price fell on Wednesday, as investors booked profits after the prices briefly rose to a?one-week high in earlier trade. A stronger dollar was weighing on sentiment throughout the precious metals sector ahead of important U.S. employment data this week. As of 0330 GMT, spot gold was down 0.7% at $4,466.19 an ounce. Bullion reached a record-high of $4,496.71 on December 26. U.S. gold futures for February delivery fell 0.4% to $4,477.30. GoldSilver Central's managing director,?Brian Lan, said: "Precious Metals have increased (quickly this week) and there is a little profit-taking... The dollar has also pushed prices up." The...

The Ministry of Development Industry Trade and Services announced on Tuesday that Brazil is expecting a trade surplus between $70 billion and $90 billion by?2026. Last year's results exceeded government expectations. Latin America's biggest economy posted a $68.3-billion surplus in 2025. This is down from $74.2-billion in 2024, as imports increased faster than exports. This shows the resilience of the economy, despite high borrowing rates to control inflation. The surplus was higher than the most recent estimate of $61 billion by the Ministry. It followed a December surplus of $9.6 Billion. Vice President Geraldo Alckmin said at a press briefing...

Gold extended gains on Tuesday, boosted by demand for safe-haven assets after the 'U.S. The?capture' of Venezuela's President fueled global tensions. Investors awaited U.S. Payroll data to gain insight into the Federal Reserve interest rate policy. By 01:40 pm, spot gold had risen 0.8% to $4,485.39 an ounce. ET (1840 GMT), following a nearly 3-percent gain in the previous day, prices are now closer to the record high $4,549.71 set on December 24. U.S. Gold Futures for February Delivery settled?1% higher, at $4496.010. Jim Wyckoff is a senior analyst with Kitco Metals. He said that precious metals traders are more...

The price of copper soared on Tuesday, as concerns about supply fueled a rally in the early part of the year. Nickel also reached a 15-month high above $18,000 per metric ton due to?Indonesia’s mine production curbs. In official open-outcry trading on the?London Metal Exchange, benchmark three-month copper was up 1.8% to $13,225 per ton. It had earlier jumped by as much as a whopping 3.1% to $13,387.50. Red metal prices have already increased by 6.6% since 2026. On Monday, they crossed $13,000, after a 42.2% increase last year. Ewa Mannthey, ING analyst, said that "Copper's?"move above $13,000" is driven...

Local newspaper La Tercera reported that copper production at Codelco in Chile reached 1.332 metric tons by 2025. This is a slight improvement over the 2024 figure. La Tercera, citing sources, said that Codelco produced 1.332 millions tons in the last year. This is only a 4,000-ton rise from 1.328 million tonnes produced?in 2020. Codelco didn't immediately respond to an?request for a comment on the production number. In recent days, Codelco Chairman Maximo Pacheco said that production would increase in 2025 as compared to the year before. "We are happy to share with the country the fact that Codelco's production...

Here are some key facts about Venezuela's oil and mining sector, after the capture of President Nicolas Maduro by U.S. troops on Saturday. RESERVES Official data show that Venezuela may have the largest oil reserves in the world, but its crude production is only a fraction of what it could be due to years of mismanagement, a lack of investment, and sanctions. According to the Energy Institute in London, Venezuela has about 17% of the global?reserves (303 billion barrels), ahead of Saudi Arabia as the leader of the Organization of Petroleum Exporting Countries. According to the U.S. Department of Energy,...

European stocks rose on Monday as investors bought up defense stocks following the U.S. military strikes against Venezuela. This sparked new 'geopolitical' concerns. The STOXX 600 pan-European index was 0.3% higher by 0810 GMT. As investors return from their New Year holidays, trading volumes should normalize. Defense?index grew by 2.7%, reaching its highest level in two months. The technology and basic resources also rose by 2.1% and 2% respectively. Investors continue to monitor the impact of the 'dramatic capture of Venezuelan president Nicolas?Maduro over the weekend by U.S. forces. Donald Trump announced on Saturday that he would temporarily place Venezuela...

Gold prices rose Monday. Other precious metals also surged after the United States captured Venezuelan president Nicolas Maduro on 'the weekend,' escalating global tensions and boosting safe-haven demands. Gold spot rose 1.9% at 0312 GMT to $4,411.14 an ounce. This is a new weekly high. U.S. Gold Futures for February Delivery gained 2.1%, to $4419.90. Tim Waterer is the chief market analyst at KCM Trade. He said that Venezuela's events have reignited demand for safe-haven assets, including gold and silver, as investors seek to protect themselves against geopolitical risk. In an operation that caused civilian deaths, the U.S. captured Maduro?Saturday....