Mining

Sources in the Indian government said that trade talks between India and U.S. had hit a snag over disagreements regarding duties on auto components, steel, and farm products. This has dashed hopes of reaching a temporary deal before President Donald Trump's deadline of July 9 to impose reciprocal import tariffs. Here are some of the main issues: HURDS TO A TRADE DEAL India's dependence upon agriculture, a major source for rural employment, has made it difficult for New Delhi, despite the risks posed by subsidised U.S. agricultural products, to accept U.S. requests for steep tariff reductions on corn, soy, wheat,...

Australian shares ended lower on Thursday. Technology stocks were the main drag, with software giant Xero falling after raising capital for a discounted price to fund Melio Payments' buyout. The S&P/ASX 200 Index closed at 8,550.8, a 0.1% decrease. The benchmark index ended Wednesday with a flat finish. Technology stocks fell 2.1% and closed at their lowest level in over three weeks. Xero, which dropped 5.3%, was the main culprit. The accounting software maker's shares resumed trading a few days after Melio Payments, a U.S./Israeli payments provider, announced that it was acquiring it for up to $3 billion. The company...

The U.S. coal company Peabody Energy has extended a lockout in one of its New South Wales mining operations, the Mining and Energy Union said Thursday. This follows a protest by its workers who demanded better wages and job security. According to the union, Peabody informed MEU members that the lockout of the Helensburgh underground mine would continue until July 6. The union stated that the workers had been locked out and without pay since 18 June. It also urged the Federal Government for a change in workplace laws which allow employers to take excessively "disproportionate" or "punitive actions" against...

Gold prices rose on Thursday due to a weaker US dollar and growing unrest after news reports claimed that Donald Trump, the U.S. president, had considered replacing Federal Reserve chair Jerome Powell in September or October. The reports raised concern over the future independence and stability of the U.S. Central Bank, which boosted demand for bullion as a safe haven. As of 0242 GMT, spot gold was up by 0.2%, at $3,339.20 an ounce. U.S. Gold Futures increased 0.3% to $3353.10. Gold priced in greenbacks is now less expensive for buyers overseas. Powell said to a U.S. Senate committee on...

Goldman Sachs predicts that copper prices will rise to $9,890 on average per metric ton in the second half 2025, according to a bank note. The bank cited fears of a global shortage of supply due to U.S. Tariffs and increased Chinese activity. The world's biggest economy has imported copper in excess, approximately 400,000 kilotonnes this year. The bank reports that, while the global market has a surplus at the moment, the excess imports are causing concern about a possible shortage of copper in countries outside the U.S. Goldman expects that the Trump administration will impose a 25 percent tariff...

The U.S. administration of President Donald Trump announced Wednesday policy changes that it claimed would accelerate the search and exploration for critical minerals offshore. The Bureau of Ocean Energy Management and the Bureau of Safety and Environmental Enforcement update policies at all stages of the development process to "reduce delay, improve coordination and give greater certainty to industry", according the U.S. Interior Department released a statement. Why it's important The Trump administration is working to reshape a vital mineral industry that has been dominated by China - the U.S.'s top economic rival. The Interior Department's policy update follows an April...

Two people familiar with the matter said that BYD, the Chinese electric vehicle leader, has slowed down its production and growth pace by reducing shifts in some factories in China. It also delayed plans to add more production lines. These decisions could be a sign of BYD's sales growth slowing down, even though it has offered deep price reductions in China's fierce auto market. BYD has reduced production by at least one third at its factories and cancelled night shifts, according to sources who declined to name themselves because it is a private matter. One person said that BYD also...

Tesla's European new car sales fell by 27.9% from a year ago in May, even though sales of fully-electric vehicles in the region jumped by 27.2%. The revised Model Y has yet to show any signs of reviving Tesla's fortunes. The European Automobile Manufacturers Association's (ACEA) data showed that overall car sales in Europe increased by 1.9%. Plug-in hybrids grew the most, followed by cars using alternative fuels. Why it's important Tesla's European Sales have fallen for the fifth consecutive month as customers opt for cheaper Chinese EVs, and in some cases protest against Elon Musk. Tesla's European Market Share...

The British government will impose trade limits on steel that are more restrictive than anticipated, restricting imports from Vietnam and South Korea, as well as Algeria, to protect its domestic supply against the effects of a trade war. Britain is trying to protect its domestic steel industry from an oversupply in the global market. It has taken a number of measures to help it. These include negotiating the removal U.S. Tariffs, which are yet to take full effect, and taking control of British Steel, to stop it from closing down. The global trade upheaval caused by Trump's tariffs, and the...

Canada's main index of stocks edged up on Tuesday, after U.S. president Donald Trump announced that a ceasefire would be declared between Iran and Israel. However, losses in the heavyweight mining sector kept gains at bay. The S&P/TSX composite index increased 0.3% to 26,686.38. The truce remained fragile, however, as Trump accused both countries of violating their ceasefire agreement. Israel admitted that it struck Iran's radar as a retaliation to Iranian missile launches, but claimed that it had not carried out any further attacks. Tehran has denied accusations that it violated the truce. Josh Sheluk is the portfolio manager of...

The price of gold fell by 2% on Tuesday, hitting a two-week-low after the announcement that a ceasefire had been reached between Iran and Israel. This weakened demand for safe-haven bullion. Gold spot fell by 1.9%, to $3,303.93 per ounce at 1006 am EDT (1406 GMT) after it had hit its lowest price since June 11, earlier in the day. U.S. Gold Futures fell 2.2% to $3318.90. The primary factor weighing down on gold is the de-escalation in tensions across the Middle East. "The safe-haven demand has decreased and the market is more in a risk-on mood," said Peter Grant....

The U.S. Department of Agriculture announced on Monday that it will end a Clinton-era ban on logging, mining, and roads in undeveloped forest areas so they can better manage fire risk. This move was opposed by environmentalists. USDA stated that the change would allow for nearly 59,000,000 acres (23.9,000,000 hectares) to be managed better in terms of fire risk. This move aligns with the goal of President Donald Trump to remove environmental regulations, which he claims are a roadblock to industry. The Western Governor's Association met in Santa Fe, where Agriculture Secretary Brooke Rollins made an announcement at the meeting....

Researchers at the ETH University of Zurich developed a method that efficiently recovers rare earth elements from electronics waste. This advances sustainable recycling, and reduces mining dependence. Rare earth elements are essential in modern electronics. They power fluorescent lamps, hard drive magnets, and they're used to produce generators for wind farm turbines. According to ETH Zurich University, less than 1% rare earth materials can be recycled due to the enormous energy and chemical effort required to separate the elements within the materials. This comes at a significant cost. ETH Pioneer Fellow Dr. Marie Perrin and Professor Dr. Victor Mougel, Associate...

Iron ore prices dropped for the third session in a row on Thursday, despite a strengthening dollar. This was due to increased shipments out of Australia and Brazil. The September contract for iron ore on China's Dalian Commodity Exchange ended the morning trading 0.36% lower, at 698.5 Yuan ($97.51). As of 0354 GMT, the benchmark July iron ore traded on Singapore Exchange was down 0.37% at $92.4 per ton. Analysts at ANZ said that "Iron Ore Futures were on the verge of a new low for the year as strong supplies and lower production of steel in China weighs on...

The Shanghai copper price reached its highest level in two weeks on Thursday, as the dollar fell to its lowest point in over three years. This lifted market sentiment. As of 0132 GMT, the most traded copper contract on Shanghai Futures Exchange increased 0.3% to 78.820 yuan (10,995.79) per ton. This is its highest level since June 11. The price of three-month copper at the London Metal Exchange increased by 0.3%, to $9.737 per ton. The dollar dropped 0.1%, to its lowest level since March 2022. Concerns about the future independence and soundness of the U.S. Federal Reserve's monetary policies...

The Sino-Moroccan Company COBCO announced on Wednesday that it has begun production of lithium-ion batteries components at its plant in Jorf Lasfar. This is located 125 kilometers (78 miles south of Casablanca). COBCO, a joint venture of Moroccan investment fund Al Mada with CNGR Advanced Materials (a producer of battery materials), is a Moroccan-owned company. Morocco's proximity with Europe, its automotive industry, the free trade agreements, and the availability of phosphates, cobalt, and other materials make it an attractive destination for Chinese battery manufacturers. In a first phase, the plant will produce two key components for lithium-ion batteries: nickel-manganese-cobalt (NMC)...

Two government sources and an unpublished draft document state that India held internal discussions about its vulnerability to a tightening copper market. It also plans to discuss how to secure supply from countries with abundant resources during ongoing trade talks. Sources and documents indicate that New Delhi also considers measures to boost domestic refined-copper output, including by attracting foreign investment. The document that was reviewed stated that India imports over 90% of the copper concentrate it needs. This dependency will increase to 97% in 2047. The document reviewed by estimates that India produces 573,000 tons of refined Copper annually, but...

The price of iron ore futures fell for the second consecutive session on Wednesday. This was due to a combination of a slowdown in China's demand and an increase in shipments from Australia. The day-end price of the most traded September iron ore contract at China's Dalian Commodity Exchange was 702.5 yuan (US$97.97). As of 0728 GMT, the benchmark July Iron Ore traded on Singapore Exchange had fallen 0.25% to a ton price of $92.75 Mysteel, a Chinese consultancy, said that the total volume of iron-ore shipments by top suppliers Australia, Brazil, and South Africa increased to 30,1 million tons...

The price of iron ore futures fell for the second consecutive session on Wednesday as increased shipments out of Australia and Brazil and a slowing in seasonal demand by China, the top consumer, weighed on sentiment. The September contract for iron ore on China's Dalian Commodity Exchange ended the morning trading 0.85% lower, at 699.5 Yuan ($97.58). As of 0349 GMT, the benchmark July iron ore traded on Singapore Exchange was down 0.46% at $92.55 per ton. According to Chinese consultancy Mysteel, the total volume of iron-ore shipments by top suppliers Australia, Brazil, and South Africa increased from June 16-22...

Iron ore futures ended a three-day rally Tuesday, despite a stronger outlook for supply from Australia's top producer. However, the resilient steel demand in China helped to cushion the fall. The September contract for iron ore on China's Dalian Commodity Exchange ended the daytime trading 0.42% lower, at 703 Yuan ($97.97). As of 0725 GMT, the benchmark July Iron Ore traded on Singapore Exchange fell 0.71% to $93 per ton. Rio Tinto, world's biggest iron ore producer enters a joint venture to develop the Hope Downs 2 Project in Western Australia. Rio announced in a press release that the two...

The price of iron ore futures fluctuated within a narrow range on Tuesday as traders assessed the balance between the strong demand for near-term supply in China and the possibility of an improved supply coming from Australia, a major producer. As of 0310 GMT, the most traded September iron ore contract at China's Dalian Commodity Exchange remained unchanged at 706.5 Yuan ($98.45). The benchmark July Iron Ore at the Singapore Exchange fell 0.18% to $93.7 per ton. According to Chinese consultancy Mysteel, hot metal production, which is a measure of iron ore consumption, increased 0.24% week-on-week to 2.422 millions tons...

On Tuesday, the London Metals Exchange (LME) and Shanghai Futures Exchange (SFE) were largely rangebound as caution reigned following the announcement by U.S. president Donald Trump of the Iran-Israel ceasefire. As of 0103GMT, LME's three-month copper rose 0.04% to $9671.5 per ton. SHFE's most-traded Copper gained 0.09%, to 78400 yuan. Trump stated in a post to his Truth Social website that a "complete" and "total" ceasefire would be implemented between Israel and Iran with the aim of ending the 12-day conflict. The commodity market has been unpredictable this year, and traders and investors are likely to wait and see how...

AVZ Minerals, an Australian company, announced on Tuesday that it would resume legal proceedings against the Democratic Republic of Congo over mining rights for the Manono Lithium deposit. The parties had been unable to settle a dispute regarding the deposit. Unresolved issues could pose a problem for the plans of California-based metals company KoBold Metals to purchase AVZ Minerals stake in one world's biggest hard rock lithium deposits. AVZ originally held the permit for the Manono Project, but the DRC mines ministry revoked it in 2023 on the grounds that the project hadn't advanced fast enough. The rights were granted...

Eurasian Resources Group announced in a press release that it plans to invest $20 millions in Kazakhstan to produce the critical mineral gallium from the bauxite ores they process to make alumina. Gallium is listed as a critical mineral by the United States and European Union. It is required for the production of semiconductors and radar systems in aerospace and defense. Kazakhstan would become the second-largest gallium producer in the world, after China, if ERG's plan is implemented. ERG CEO Shukhrat Ibragimov stated that "ERG intends to become a major player on the global gallium market, beginning production in 2026,...