Mining

Three people with knowledge of the situation said that a 'worsening Ebola epidemic' in 'the Democratic Republic of Congo' is causing travel disruptions and delaying meetings related to a U.S. supported critical minerals partnership designed to loosen China's grip on Congo's copper and cobalt reserves. Travel to and from Congo has become increasingly difficult due to the Ebola outbreak. Health concerns and quarantine regulations have forced officials and investors to delay visits. Congo is the second-largest copper producer in the world, and has significant deposits of germanium and lithium. It's a major source of energy transition minerals, and it's a...

The Ghanaian cabinet has approved amendments for the mining law to be submitted to parliament. Mines Minister Emmanuel Armah Kofi Buah announced this on Wednesday as part of efforts by government to increase oversight and curb illegal mines. Ghana, Africa's largest gold producer, is implementing reforms to boost state revenue and increase local participation in the mineral wealth. It introduced a sliding scale gold royalty regime this year linked to prices, and announced plans to phase out fiscal stabilization agreements. This could impact major miners such as Newmont, Gold Fields, AngloGold Ashanti, Zijin, and Perseus. Buah said at a press...

Warren Buffett called Bill Gates' association with the late sexual offender Jeffrey Epstein, "disgusting," but said that he would halt his donations to the Gates Foundation as his children grew older and were now ready to receive his wealth. Buffett told CNBC in an excerpt of a Wednesday interview that he tells his children to do it well. The comments were broadcast a day after 95-year-old Berkshire Hathaway Chairman omitted the Gates Foundation in his annual midyear charitable donations. He donated almost $6 billion worth of stock from his conglomerate. Buffett donated Berkshire shares worth more than $47 billion to...

Warren Buffett stated that it was no surprise to him when he informed Bill Gates of his decision to cease donating to the Gates Foundation. This ended their?two decade philanthropic relationship. Buffett, 95, did not include the Gates Foundation as part of a $6 billion donation to Berkshire Hathaway announced on Tuesday. This was in response to revelations regarding interactions between Bill Gates - the Microsoft cofounder and philanthropist - and the late sex offender Jeffrey Epstein. Buffett, the chairman of Berkshire, told CNBC's?on Wednesday that Gates and Buffett spoke three weeks ago, when Gates was in Omaha. The meeting...

Gold prices fell on Wednesday as escalating tensions continued in the Middle East to fuel inflation concerns, thereby reinforcing expectations for higher U.S. rates. Spot gold dropped 0.7%, to $4.027.49 an ounce at 0843 GMT. Prices rose by over 2% on Tuesday to a high of $4100.19 an ounce, after weak U.S. inflation figures. U.S. gold futures for August delivered?slid by 0.9% to $4.035.00. After Iran closed the Strait of Hormuz, and after the U.S. imposed a naval ban on Iranian ports, the Islamic Revolutionary Guard Corps of Iran threatened to shut all export corridors that would benefit Washington. After...

The Writers' Guild of America filed a lawsuit to stop Paramount from acquiring Warner Bros. for $110 billion. Discovery said on Tuesday that the acquisition would 'threaten the health of U.S. Entertainment Industry and jeopardize writer's livelihoods. This case is another blow for Paramount in its bid to compete with Netflix and Disney. It comes a day after California, along with 11 other states, sued to stop the deal. Paramount now faces a double legal burden. A ruling in either case could stop the deal. In its lawsuit, the?Writers Guild claimed that this deal would harm its members by reducing?the...

Gold gained more than 2% on Tuesday after ?softer-than-expected inflation data boosted hopes ?of the U.S. Federal Reserve adopting ?a ?less hawkish stance. Gold spot was up 1.6% to $4,063.78 an ounce at 1:30 pm EDT (1730 GMT) after it fell earlier in the day to its lowest price since July 1. U.S. Gold Futures closed 1.6% higher, at $4.069.70. Other currency holders can now afford greenback-priced gold because the U.S. Dollar has fallen by 0.6%. "Gold?gallops up on a subdued CPI that showed headlines falling but, more importantly, the?core remained unchanged at 0.2%. "This should reduce expectations for rate...

Warren Buffett announced on Tuesday that he had stopped giving money to the Gates Foundation following revelations regarding interactions between Microsoft co-founder Bill Gates, a philanthropist and former sex offender Jeffrey Epstein. Buffett said he will donate about $6 billion worth of?Berkshire Hathaway shares, which is 12 million Class B Shares, as part of his mid-year annual donation to four foundations run by his sons Howard, Peter, and daughter Susie. The 95-year old Berkshire Chairman did not mention Gates Foundation which has received over $47 billion in stock from the conglomerate since Buffett made an irrevocable promise to donate shares...

Warren Buffett has confirmed that he's stopped donating to the "Gates Foundation" following revelations regarding interactions between the Microsoft co-founder and philanthropist,?Bill Gates? and the late sex offenders Jeffrey Epstein. Buffett announced on Tuesday that he will donate about $6 billion in Berkshire Hathaway shares, which includes 12 million Class?B shares to four family foundations, overseen by Susie, his daughter, and Howard, and Peter, their sons. He said he would donate the remaining Berkshire stock "one way or another" to four foundations by December 31, 2034. Buffett, who is 95 years old, did not mention that the Gates Foundation has...

Gold gained a little?on?Tuesday, reversing its course after?hitting a?two-week low earlier... in?the session. The focus was on the U.S. Consumer Price Index and Federal Reserve chair Kevin Warsh's testimonies for clues about monetary policy outlook. Spot gold increased 0.5% at $4,021.38 an ounce to 1100 GMT after dropping to its lowest level in the session since July 1. U.S. Gold Futures for August Delivery gained 0.6% to $ 4,029.20. Ricardo Evangelista, ActivTrades analyst, said that gold prices were edging up a bit today. This was due to a pause on the recent rally of the U.S. Dollar. Dollar-priced gold is...

On Tuesday, copper 'prices' rose to their highest level in three weeks due to signs of a firmer China demand and shortages. The benchmark three-month copper price on the London Metal Exchange rose 0.4% by 0930 GMT to $13,601 per metric ton, its highest level since June 23. Ewa Mnthey, commodities analyst at ING, said that copper is being supported by a combination of strong Chinese data and tighter physical market conditions. Exports from the top metals consumer, China, surged in June. This was their best performance for four months. The Shanghai Futures Exchange's most traded copper contract rose by...

The U.S. Department of Defense announced?on Monday that it would invest $25,000,000?in the rare earths startup ReElement Technologies. This is part of an?overall push by the 'Trump administration? to bolster domestic supplies of vital minerals and challenge China’s dominance of this sector. ReElement plans to refine rare Earths and other essential?minerals in its commercial facility planned for Marion, Indiana. Rare?earths will be used to make magnets for a variety of military equipment including fighter jets missiles and subs. The $25 million investment was not immediately clear whether it is a loan, grant or other funding mechanism. Pentagon and ReElement representatives...

Data showed that China's primary aluminum output reached a record monthly high in June. This was because consumers shifted to China after the Middle East supply was affected by the U.S.-Iran war. Data from the National Bureau of Statistics show that in June, the world's biggest aluminium producer produced 3,98 million metric tonnes of primary aluminum, an increase of 4.7% compared to a year ago. This was higher than the previous high of 3,89 million metric tons recorded in May. The data revealed that the output during the first half of 2026 increased 3.8% from a year ago to 23,19...

Ma Xingrui was expelled from the Communist Party by China on charges of corruption. He is the third member to have been expelled since 2025, as President Xi Jinping continues his anti-corruption campaign. Ma, who was also the deputy leader of the central rural working group, came under investigation for "serious violations of law and order" (the party's code word for corruption) in April. Xinhua said that Ma's investigators discovered that he had improperly arranged a?job for another and sought to benefit others through the selection and appointment officials. The report stated that he "connived, failed to detect, and failed...

The price of copper in London fell slightly on Tuesday, amid the latest escalation of the Middle East conflict. However, this was offset by concerns over a possible supply chain crisis. Benchmark 'three-month' copper prices on the London Metal Exchange dropped 0.18% to $13,516 per metric tonne by 0300 GMT. After an increase in LME copper prices overnight, the most-traded contract for copper on the Shanghai Futures Exchange increased by 0.64%. It now stands at 103950 yuan a ton. Donald Trump, the U.S. president, and Iran announced that they would both blockade the Strait of Hormuz. The U.S. has renewed...

China's imports of iron ore in June increased by 15% compared to the previous month, reaching a six-month record. This was due to miners increasing shipments to meet quarterly targets and lower prices encouraging more buyers among steelmakers and traders. Data from China's General Administration of Customs revealed that the world's largest iron ore importer imported 112,69?million tons of the key ingredient in steelmaking last month. This was up 6.4% on the previous year and the highest amount since December. Analyst Qingwei Xie at Shanghai Metals Market said that "shipments increased last months as some miners increased efforts to meet...

The copper prices held steady on Monday, as the dollar eased. However, gains were limited as the 'fighting' between the U.S.A. and Iran intensified and oil prices rose, reinforcing fears of inflation and growth. At 1601 GMT, the benchmark copper price on 'the?London Metal Exchange' was up 0.3% to $13,528 per metric tonne. The lower dollar makes metals priced in dollars cheaper for holders of currencies other than the U.S. dollar, which could increase demand. The price of oil has risen after renewed military attacks between the United States of America and Iran re-ignited concerns over energy shipments via the...

As tensions escalated between the U.S.A. and Iran, and oil prices rose, fears of inflation and growth were heightened. Benchmark 'copper' on the London Metal Exchange?was down by 0.3% to $13,443 per metric tonne at 1037 GMT. After renewed military strikes by the United States against Iran, concerns about energy shipments via the Strait of Hormuz resurfaced. The focus was also on the falling copper stocks. The copper stocks in LME approved warehouses fell by more than 20 percent since May's end, to a 4-month low of 305,200?tons. The LME system is due to receive another 130,525 tonnes of metal...

Prices of copper fell on Monday, as the fighting between the U.S. Benchmark three-month Copper?on the?London Metal Exchange fell 0.64% to $13,398.5 per metric ton at 0701 GMT. The Shanghai Futures Exchange's most traded copper contract fell 0.68%, to 103100 yuan (15,199.54 USD) per ton. U.S. forces and Iranian forces traded heavy drone and missile assaults at the weekend. This dampened risk appetite, and reignited fears that rising energy prices and inflation could lead policymakers to raise interest rates for longer. The pressure on industrial metals is increased by higher interest rates. Gold and silver that do not yield any...

Copper prices were flat on Friday as fears faded of an economic hit and a drop in metal demand due to a spate of tit for tat attacks between the U.S.?and Iran. The benchmark three-month copper price on the London Metal Exchange was?largely steady, with a drop of only 0.01% at $13,487.5 per metric ton as of 0700 GMT. The red metal prices are now close to the levels they were at the beginning of the week. This is the culmination of a few volatile days, during which fears about a new round in the conflict between the U.S. Prices...

The weakened?dollar helped copper to rise on Friday. This eased fears about a spate of?tit-fortat strikes between Iran and the U.S. The benchmark three-month copper price on the London Metal Exchange rose 0.29% to $13,528 per metric tonne by 0300 GMT. The Shanghai Futures Exchange's most traded copper contract rose by 1.61%, to 103950 yuan (about $15,334.80). This week, the LME saw a 1.2% rise. It was a volatile week in which fears of inflation and macroeconomic risks were raised by a new round of fighting between the U.S. The dollar is on course to drop for a third day...

The Iran War has caused a supply shock that is reviving the old Western aluminum smelters. Magnitude 7 Metals in the U.S. is reactivating its New Madrid smelter located in Missouri. Over the Atlantic, Norwegian producer Hydro announced the partial restart of the Slovalco joint-venture smelter. The two plants were idled due to low aluminum prices and a spike in energy prices that followed the Russian invasion of Ukraine. Washington and Brussels are both desperate to reduce their reliance on an import of a metal used in a wide range of industries. The return of these zombies smelters will not...

The dollar, which had recently surged, was stabled and copper rebounded on Thursday as the market looked beyond the escalation of Gulf hostilities. Benchmark three-month copper on the London Metal Exchange was up 1.62% to $13,379 per metric ton at 0700 GMT. The Shanghai Futures Exchange's most traded copper contract rose 0.16%, to 103.160 yuan (15,182.65) per ton. This was a slight improvement from the earlier drop of 1.32%. Although the copper market is still watching Middle East conflict developments closely, investors have "tended to price in an expectation that any escalated tensions will be brief and a solution?will be...

Aluminum prices increased on Tuesday, as markets considered the potential for a tightening of supply amid Middle East tensions. Benchmark 'three-month' aluminium at the London Metal Exchange rose 0.5% by 1009 GMT to $3,129 per metric ton, nearing resistance from the 200-day average of $3,161. A ship was struck overnight in the Strait of Hormuz, and Iran announced that there would be no peace talks unless Donald Trump stopped threatening to restart war. As optimism grew over the prospect of Gulf supply via Hormuz, aluminum prices fell 16% in June, their biggest monthly drop since 2008. Aluminium is still oversold...