Mining

Saudi Arabia's Manara Minerals is looking for important minerals projects in Zambia to buy, the southern African nation's mines minister Paul Kabuswe informed Reuters on Thursday. Manara and Africa's second-largest copper producer held talks on Wednesday after the signing the previous day of a. memorandum of understanding (MOU) with Saudi Arabia to comply. on exploration for brand-new minerals. They (Manara) are interested, however we do not know which ones. yet, he stated on the sidelines of a mining conference in Riyadh,. adding that a statement on a potential mining deal in between. Zambia and Saudi Arabia is likely this year....

Gold prices rose to a. morethanonemonth high up on Thursday after the current U.S. economic data pushed the Treasury yields even more, following a. soft core inflation reading this week that increased bets for a. more dovish Federal Reserve policy. Area gold got 0.8% to $2,718.00 per ounce since. 9:55 a.m. ET (1455 GMT), hitting its highest considering that Dec. 12. U.S. gold futures rose 1.1% to $2,748.60. Initial claims for state unemployment benefits rose to a. seasonally changed 217,000 for the week ended Jan. 11, the. Labor Department stated on Thursday. A Reuters poll had actually forecast. 210,000 claims....

Futures for Canada's main stock index inched up on Thursday, tracking Wall Street equivalents, as greater gold costs propped up the metal mining sector. March futures on the S&P/ TSX index were up 0.1% at 6.40 a.m. ET (1140 GMT). U.S. stock index futures also ticked up on Thursday, helped by strong quarterly results from Bank of America, while financiers waited for economic information that might use insights into the health of the world's biggest economy. Gold rates increased to a near one-month high and copper costs hit a five-week peak, supported by a time out in dollar's rally. Renewed...

Codelco pushed difficult to lift its copper production from a 25yearlow at the end of 2024, however union workers and analysts question whether its tactics are sustainable as it targets annual output of 1.7 million metric lots by the end of the years. Codelco's production reached 1.328 million loads in 2024, at the low end of its target range and just about 3,500 tons greater than the quarter-century low in 2023, an internal document seen revealed. Four employees spoken with said the world's largest copper producer had shortened downtime, altered shift schedules and heightened production targets while postponing some required...

Copper manufacturer Codelco pushed hard at the end of last year to raise yearly output a little from a 25-year-low in 2023, however union workers and analysts said the strategies used were unsustainable as the company strives for annual production of 1.7 million metric tons by the end of the years. An internal file seen showed Codelco's. production reached 1.328 million tons in 2024, at the low end of. its target variety and practically 3,500 lots greater than the. quarter-century low in 2023. In its second-half push, workers spoke with stated the. world's biggest copper producer reduced downtime, changed. shift...

Gold rates were stable on Thursday after hitting their greatest levels in more than a month, as softer U.S. core inflation information lifted expectations of interest rate cuts, although news of a ceasefire accord between Israel and Hamas capped more gains. Spot gold held its ground at $2,696.30 per ounce, as of 0301 GMT, after hitting its highest point because Dec. 12 previously in the session. U.S. gold futures gained 0.3% to $ 2,725.20. Relieving underlying inflation in the U.S. renewed hopes of a. less limiting Fed policy this year. The core inflation. suddenly slowed, while heading consumer prices showed...

Steelmaker Ternium stated on Wednesday stated that wastewater from a plant in Mexico was not a contaminant, after the country's ecological watchdog Profepa said it had ordered Ternium to momentarily stop the flow of wastewater out of the site. Profepa said Ternium had actually been spilling its wastewater in a. tributary of the Atoyac river without a license, however Ternium said. this was not the case and that the problem with the regulator. was over continuous bureaucratic processes worrying. inconsistencies in the name of the company on licenses. The Atoyac river in central Mexico is one of the. most-polluted rivers...

Gold prices extended gains on Wednesday, as the dollar dipped after U.S. core inflation data was available in softer than anticipated, abating inflation pressures and rekindling expectations that the Federal Reserve's relieving cycle may not be over yet. Spot gold acquired 0.4% to $2,688.19 per ounce by 0915 a.m. ET (1415 GMT). U.S. gold futures were up 1.1% to $ 2,711.40. Omitting volatile food and energy components, core CPI increased 3.2% on an annual basis, compared to an expected 3.3% rise, the U.S. Bureau of Labor Statistics stated on Wednesday. Core CPI was available in a bit listed below expectations....

About 3 metric tons of gold taken by authorities in Mali from Canadian miner Barrick Gold's. LouloGounkoto mining complex is now being held at Malian. stateowned Banque Malienne de Solidarite (BMS), two sources. told Reuters. Reuters reported on Monday that, in an escalation of their. long-running dispute with the company, Malian authorities had. seized gold worth $245 million to be transferred to BMS in the. capital Bamako. Barrick on Tuesday verified it had actually suspended operations in. the West African country which the federal government had moved gold. stock from the miner's Loulo-Gounkoto site to an unnamed bank. Eyewitnesses at...

Saudi Arabian mining company Manara Minerals could invest in Pakistan's Reko Diq mine in the next 2 quarters, Pakistani Petroleum Minister Musadik Malik stated on Tuesday. Manara, a joint endeavor between state-controlled miner Ma'aden and the $925-billion Public Investment Fund ( PIF), was set up as part of the kingdom's efforts to diversify its economy far from oil, including by buying minority stakes in assets overseas. I'm very enthusiastic that in the next quarter or more we will have huge announcements, Malik stated on the sidelines of the Future Minerals Forum in Riyadh, adding they would be copper-related. So we're...

Definitions of what a green bond is should be structured urgently to draw in funds required for the green shift, the World Bank Group's private investment arm said, as markets brace for a reaction on sustainable financial investments from the inbound Trump administration. The variety of 'taxonomies', a system of category, for green bonds has actually leapt in recent years as nations try to move more money into activities and jobs that will assist them meet their environment goals. The International Financing Corporation (IFC), aimed at producing markets, is one of the world's greatest companies of green debt, and has...

Futures for Canada's primary stock index edged up on Tuesday as mindful financiers looked ahead to U.S. inflation information due later on in the week to presume the Federal Reserve's financial policy position. March futures on the S&P/ TSX index were up 0.12% at 6.32 a.m. ET (1132 GMT). Investors are keenly awaiting the U.S. Consumer Rate Index ( CPI) data due on Wednesday, which will provide insights into inflation trends in the U.S. and the direction of interest rates. In products, gold costs increased, supported by a. weaker U.S. dollar. Copper costs extended gains, reaching a. one-month high as...

China's crude steel output in 2024 moved 1.7% from the previous year to a fiveyear low, official data showed on Friday, hit by a longrunning property market crisis that has depressed need. The world's largest steel manufacturer made 1.005 billion metric lots of unrefined steel in 2015, information from the National Bureau of Stats revealed. Last year will likely mark the final year when crude steel output on the planet's second-largest economy stayed above 1 billion heaps, experts stated. They anticipate that output in 2025 would fall listed below that level. China's steel output has been typically on a sag...

Societe Generale , France's thirdbiggest noted bank, is planning a. partial return to gold trading after quitting the bullion. market in 2019, two sources with knowledge of the matter told. Reuters. Societe Generale resigned as a market maker for gold at the. London Bullion Market Association (LBMA) in 2019 as it scaled down. non-prescription (OTC) commodities trading, where offers are done. bilaterally between banks and brokers. The bank prepares to focus on the trading of gold derivatives. just, the sources said, including that it has no strategies to work with a. large team or to end up being the LBMA...

China stated on Thursday it would use provisional responsibilities on imports of industrial plastics from the United States, European Union, Japan and Taiwan after a. monthslong antidumping investigation. The provisional anti-dumping levies on polyacetal copolymers. range from 3.8% to 74.9% depending upon the nation and business. and will commence from January 24, the Commerce Ministry stated in. a declaration. China launched the examination in May, the same week that. U.S. treked tariffs on Chinese electric vehicles and the European. Union introduced a trade examination into certain Chinese steel. imports. The nine-month investigation revealed its findings days. before Donald Trump is...

Prices of iron ore futures climbed on Thursday, supported by minimized deliveries from a major producer and growing expectations of continued rate cuts by the Federal Reserve following coolerthanexpected U.S. inflation information. The most-traded May iron ore agreement on China's Dalian Commodity Exchange (DCE) was up 0.64% at 787 yuan ($ 107.35) a metric lot, as of 0214 GMT. Earlier in the session, the contract touched 792 yuan a lot, its greatest considering that Dec. 18. The benchmark February iron ore on the Singapore Exchange was trading 0.43% higher at $101 a load, as of 0219 GMT. It touched the...

Prices of many base metals rose on Thursday, helped by a weaker dollar as soft U.S. core inflation data raised hopes that the Federal Reserve might cut rates of interest further. The dollar index paused its rally following the release of core consumer rate index information. It was last at 108.98 - a 1.08%. retreat from the 26-month high of 110.17 touched on Monday. A weaker dollar makes greenback-priced products cheaper. for holders of other currencies. Leaving out volatile food and energy parts, core CPI. increased 3.2% on a yearly basis, compared with an expected. 3.3% rise. Traders of interest-rate...

Iron ore futures extended gains on Wednesday, aided by China's betterthanexpected credit data but the increase was topped by fears of escalating trade stress after U.S. Presidentelect Donald Trump takes office next week. Trump has vowed to enforce a 60% tariff on Chinese items. The most-traded May iron ore agreement on China's Dalian Product Exchange (DCE) ended daytime trade 0.71%. greater at 782.5 yuan ($ 106.73) a metric lot, after hitting the. highest because Jan. 2 at 787.5 yuan a lot earlier in the session. The benchmark February iron ore on the Singapore. Exchange increased 0.26% to $100.6 a ton...

Japan's Nippon Steel stays thinking about working with the inbound administration of Donald Trump to attempt to seal a takeover of U.S. Steel, its vice chairman Takahiro Mori stated a viewpoint piece in the Wall Street Journal. Recently, Nippon Steel and U.S. Steel filed 2 lawsuits after U.S. President Joe Biden obstructed a $14.9 billion buyout of the American steelmaker by the Japanese company. President-elect Donald Trump takes office on Monday. Enforcement of Biden's order, which gave the celebrations 1 month to loosen up the deal, was postponed up until June after the companies sued the U.S. president, declaring he...

Iron ore futures extended gains on Wednesday, assisted by China's betterthanexpected credit data, however worries of intensifying trade stress ahead of U.S. Presidentelect Donald Trump taking office next week capped the rise. Trump has promised to enforce a 60% tariff on Chinese products. The most-traded May iron ore agreement on China's Dalian Product Exchange (DCE) ended morning trade 0.71%. greater at 782.5 yuan ($ 106.73) a metric load, after striking the. greatest because Jan. 2 at 787.5 yuan a heap earlier in the session. The benchmark February iron ore on the Singapore. Exchange rose 0.31% to $100.65 a ton since...

Base metals traded mixed on Tuesday, with copper consistent at its onemonth high, although gains were capped by a strong U.S. dollar following robust financial data. Three-month copper on the London Metal Exchange ( LME) rose 0.3% to $9,121 per metric heap by 0143 GMT. The dollar hung near its greatest in more than two years as traders downsized U.S. rate cuts bets in 2025 after strong financial data recently. The U.S. signed up an out-performance in its economic information, with unanticipated task growth acceleration and a 4.1% decrease in joblessness rate last month. This prompted traders to dial back...

Copper costs hit onemonth peaks on Monday on optimism about global growth and need, particularly in leading consumer China, which increased imports of the commercial metal last month. Criteria copper on the London Metal Exchange (LME). was up 0.3% at $9,115 a metric ton by 1050 GMT after touching. its greatest since Dec. 12 at $9,150. China's imports of unwrought copper and copper products hit. a 13-month high in December, rising almost 18% year on year to. 559,000 metric lots, custom-mades data showed. Another indicator of stronger demand is the Yangshan. premium , a carefully watched indication of China's. hunger...

Lithium costs are anticipated to stabilise in 2025 after two years of high declines as shuttered mines and robust electric lorry sales in China soak up an oversupply, although the capacity for mines to reopen may cap gains, experts and traders stated. A nearly 86% plunge in costs of the EV battery metal over the past two years from its peak in November 2022 forced business to mothball mines throughout the world. However market participants state those closures imply resilient need ought to exceed supply this year as China heightens policy assistance to increase sales in the world's biggest EV...

Most base metals were rangebound on Monday, as a strong U.S. dollar following robust economic data topped gains while news of Indonesia slashing nickel ore mining quota supported Shanghai nickel. The dollar started the week strong on a blowout U.S. jobs report that highlighted the world's largest economy's. outperformance, with unexpected task growth velocity and a. decrease in unemployment rate last month, triggering traders to. dial back bets for Federal Reserve rate cuts this year. The dollar index at $109.62 was slightly lower than. the two-year high hit on Jan. 2. A more powerful dollar makes greenback-priced commodities more. costly...