Mining

Gold reached another record-high on Friday. Silver and platinum also extended their gains to reach all-time highs, fueled by a?diminishing? confidence in U.S. investments due to geopolitical tensions, and economic uncertainty. As of 0358 GMT spot gold was up by 0.3% to $4,951.91 an ounce after reaching a record high earlier in the day. U.S. Gold Futures for February Delivery increased by 0.8% to $4.952.80 an ounce. "Faith In The?U.S. Its assets are shaken and may be permanently. This is causing money to flow into precious metals. The word rupture is being thrown about. "I don't believe that's an overstatement,"?...

The company and mine's biggest union announced on Thursday that production at Capstone Copper’s Mantoverde Copper and Gold Mine in northern Chile has been largely halted following the shutdown of the mine’s?desalination?plant amid a nearly 3-week labor strike. The union claimed that production had been stopped, but later the company stated that production was continuing but would likely stop in the near future. The union claimed that a 'group of striking workers' took control of the desalination facility that supplies water to the mine. It added that the union had not approved the takeover. Capstone said in a statement released...

Gold prices fell on Wednesday after President Donald Trump's remarks. Back down Some of his most stern threats against Greenland. By 3:10 pm, spot gold had risen 0.3% to $4,778.51 an ounce. ET (2010 GMT), having reached an all-time peak of $4,887.82 in the earlier session. U.S. Gold Futures for February Delivery settled 1.5% higher, at $4.837.50 an ounce. The equity markets recovered after Trump retracted?a threat of imposing tariffs on several nations because of their stance towards Greenland. He said he had reached an outline of a deal on the future of the island with NATO. Bob Haberkorn, senior...

Chile's mining sector expressed concern on Wednesday, after President-elect Jose Antonio Kast appointed one minister to oversee mining and the entire economy. Kast appointed businessman Daniel Mas as the new Minister of Mining and Ministry of?Economy, Development and Tourism on Tuesday. Mas is the vice president of Confederation of Production and Commerce and has private sector experience in real estate, financial services and construction. However, he lacks mining expertise. The mining industry is the mainstay of Chilean economy, and it's a major source of tax revenue and exports. Kast was expected to appoint Santiago Montt as the new mining minister....

Canada's major?stock index bounced back on Wednesday from the previous session's sharp drop, as investors digested new comments by U.S. president Donald Trump, who said in Davos that he wouldn't use force to take over Greenland. As of 10:25 a.m., the S&P/TSX composite index was up by 0.4% to 32,880.61. ET. The benchmark recorded its largest?decline on Tuesday since November 20, when global markets fell after Trump threatened to impose?tariffs?on?eight European countries if U.S. wasn't allowed to takeover Greenland. The comments revived the "Sell America," narrative that was last seen in April of last year after Trump's sweeping Liberation Day...

Construction spending in the United States increased more than expected during October, with home renovations likely driving the increase, while other areas of construction activity was weak. The Census Bureau of the Commerce Department reported on Wednesday that construction expenditures rose 0.5% in October after dropping?0.6% during September. The economists polled had predicted construction spending to rise by 0.1% in October. In October, spending fell 1.0% on an annual basis. The 43-day shutdown of the government delayed the data. The spending on private construction projects increased by 0.6% in October, after falling 0.9% in September. After a 1.4% drop in...

The Trump administration will push ahead with its effort on Wednesday to encourage U.S. deep sea exploration by speeding up?permitting companies that are hunting for vital minerals in international waters. This move is likely to raise environmental and legal concerns. This effort could 'help?spark?a U.S. led scramble to find resources on the deep seabed, before global standards for the relatively new techniques of mining are in place. The National Oceanic and Atmospheric Administration has finalized a rule that follows an executive order signed by U.S. president Donald Trump. This executive order was intended to bolster the deep-sea?mining?industry in a bid...

Energy Fuels, a producer of uranium and critical minerals, will purchase rare earth producer Australian Strategic Materials. The two parties announced the deal in separate statements released on Wednesday. The deal would see shareholders of Australian Strategic Materials receive 0.053 shares of Energy Fuel for every ASM held. They also get a special dividend up to A$0.13 for each ASM, which represents a total implied value A$1.60. This is a 121% premium on ASM's closing price from January 20. If the transaction is completed, it would create an international mid-tier producer of rare earth elements outside China, with a presence...

Two senior Congolese officials confirmed that the Democratic Republic of Congo sent Washington a list of state-owned assets, including gold, manganese, copper, cobalt and lithium projects, for U.S. investment as part of a mineral partnership. Sources said that the list Washington presented to officials in the United States last week represents its most tangible progress towards converting investment and peace deals with Congo into a sway over the critical minerals supply chain of the country. U.S. agencies are stepping up efforts to secure strategic materials since President Donald Trump brokered an agreement between Congo and Rwanda in order to ease...

On Tuesday, Australian shares recorded their worst session for over a week as rate hike fears shook heavyweight financials. Meanwhile, miners dropped after BHP warned that long-running negotiations with China's largest iron ore buyer are putting pressure on prices. The S&P/ASX 200 index closed at 8,815.90, a 0.7% decline. This is the steepest drop in a single day since December 15, 2025. Financials dropped by 1.1%. The four largest banks declined between 0.9% and 1.8%. According to Philip Pepe?, senior equities analysts at Shaw and Partners, the sector is losing momentum as investors are rotating out. He said that lower...

Investors flocked to gold and silver as tensions intensified after U.S. president Donald Trump threatened additional tariffs against European countries for the control of Greenland. Gold spot rose by 1.5%, to $4,663.37 an ounce, at 0335 GMT. It had previously reached a high of $4689.39. U.S. Gold Futures for February Delivery jumped 1.6%, to $4669.90 an ounce. Trump announced on Saturday that he would increase tariffs against European allies, until the United States is allowed to purchase Greenland. This escalating dispute over the future for Denmark's vast Arctic Island has escalated. EU diplomats reported that the European Union's?ambassadors? reached a...

Syrah, an Australian company that supplies graphite to Tesla, announced on Monday that it had agreed to extend a deadline for a third time to resolve a dispute over a supposed breach of the agreement. The 2021 agreement, which will supply?8,000 metric tons of graphite per year for four years, is crucial to Syrah Vidalia's Louisiana operations as well as the company's plan to become the United States' first non-Chinese major supplier of this metal. Tesla, headquartered in Texas, issued the first default notice to Syrah in July 2025. The company claimed that Syrah failed to deliver active anode samples...

BHP Group has sent iron ore cargoes that are not allowed to be sold in China, to Malaysia and Vietnam. The company is looking for alternative buyers because its Jimblebar stocks have been piling up at Chinese ports due a long-running contract dispute with Beijing. China Mineral Resources Group, set up in the year 2022 with the aim of centralising iron ore purchases and gaining better terms from miner, has barred Chinese steelmills and traders from purchasing BHP's Jimblebar Blend Fines, a medium-grade ore. This was done last September, during ongoing talks about a new contract. Lowlands Blue, carrying 95,000...

Copper prices rose on Friday, after Capstone Copper announced that a workers’ strike forced a production?halt at the Mantoverde Mine in Chile. The most traded copper contract on the Shanghai Futures Exchange closed daytime trade up 0.64% at 101,340 yuan ($14.553.65) per metric ton but ended the week lower by 0.52%. As of 0700 GMT, the benchmark three-month Copper on the London Metal Exchange had gained 1.30% and was expected to finish the week with a gain of 0.93%. The strike was triggered after Capstone and the largest union of mine workers failed to reach an agreement on collective bargaining....

The price of physical aluminium in the United States is now 68% higher than that on the London Metal Exchange. It is obvious that this is a direct result of President Donald Trump increasing import tariffs in March from 10% to 25 % and then again in June to 50 %. The "all-in price" of aluminum is now above $5,000 per metric tonne, due to the additional $560 that the physical delivery premium in the Midwest U.S. adds to the implied tariff costs. Metals are in short supply across many industries, from construction to packaging and automotive. On paper, the...

Shanghai Copper finished off its lows on Tuesday as investors shrugged off the sluggish market and the Shanghai Futures Exchange (SHFE)'s move to increase margin requirements for certain contracts. After a drop of more than 1%, the most traded copper contract on the?SHFE?closed trading daytime up 0.04% to 101,280 Yuan ($14,544.41) per metric ton. As of 0740 GMT, the benchmark three-month price for copper at the London Metal Exchange increased by 1.10%. It now stands at $12,894.50 per ton. Red metal prices remained near record highs despite the sluggish demand for spot metals. The?SHFE also increased daily price limits and...

The Shanghai Futures Exchange increased margin requirements on certain copper contracts, which led to a drop in the price of copper in China. As of 0330 GMT, the most-traded metric ton?copper contract traded on SHFE fell 0.65%, down to 100,580 Yuan ($14440.15). However, the benchmark three-month?copper? on the London Metal Exchange gained 0.65%, to $12,836.50 per ton. SHFE announced on Tuesday it will increase the margin ratios for certain metals, including copper, silver, gold, and aluminum futures contracts, and expand daily price limits from January 22, 2019. This?move was widely seen as a way to stabilize the market, since copper...

A blast at a steel 'plate factory in Inner Mongolia, China's northern region, killed four people and left six others missing on Sunday. CCTV reported that rescue efforts are underway. Inner Mongolia's?Baotou Steel Union?, whose subsidiary owned the factory, said in an earlier stock exchange filing that 84 people were injured by the explosion. The?steelmaker stated that the explosion of a saturated steam and water tank?at Baotou City unit?damaged?parts of?factory equipment and buildings. It was also expected to have an impact on production at the plate-mill and adjacent facilities. The company stated that it was still assessing?the extent of losses....

The copper price rebounded Monday, thanks to a lower dollar and better-than-expected data from China, the world's largest metals consumer. After two consecutive sessions of declines, the benchmark three-month 'copper price on London Metal Exchange rose 0.6% to $12,885 per metric ton at 1030 GMT. LME copper fell to a low of one week on Friday due to profit-taking, and worries about weak Chinese demand. It had fallen from its record high of $13,407 on Wednesday. The price of coal has risen 31% in the last six months on fears that shortages may occur this year due to mine disruptions....

Data released by the government on Monday showed that China's aluminum production grew to 45 million metric tonnes in 2025. This is largely in line with a national output cap mandated by the government and represents a slower growth rate than in 2024. The National Bureau of Statistics reported that the full-year production in the world's biggest consumer and producer of light metals rose by 2.4%, to 45.02 millions tons. This is a slower growth rate than the 4.6% in 2024. The December production rose 3.0% year-on-year, to 3.87 millions tons. The output was near the long-standing ceiling of 45...

The copper price fell to a new low of one week on Friday, mainly due to profit-taking following a rally driven by speculative fund managers. Meanwhile,?demand for physical copper in China was muted. Benchmark?three month copper on the London Metal Exchange fell 1.2% to $12,955 per metric tonne by 1100 GMT, after reaching its lowest level since January 9 at $12,774.5. Metal used in construction and power is down 5% from a record high of $13,407, reached on Wednesday. China's securities regulator, which is the world's largest metals consumer, has vowed to crackdown on excessive speculation following this week's near...

Iron ore futures fell on Friday, as the high prices and thin margins discouraged buyers in China, the world's largest consumer. As of 0330 GMT, the most-traded contract for May iron ore?on China’s Dalian Commodity Exchange?traded 0.43% lower to?812.5 Yuan ($116.64), a metric tonne. This week, the contract has fallen by 0.25%. The benchmark iron ore for February on the Singapore Exchange fell 0.34% to $106.7 per ton. According to Mysteel's data, released on January 15, the total stocks of iron ore imported into China's main ports rose?for an eighth consecutive week? to a new record high of 165.6 millions...

Iron ore futures rose on Wednesday as China reported record steel exports and its highest-ever monthly imports. As of 0326 GMT, the most-traded contract for May iron ore on China's Dalian Commodity Exchange was up 0.49% at 824.5 Yuan ($118.17). The benchmark iron ore for February on the Singapore Exchange rose 0.29% to $108.65 per?ton. Data from the General Administration of Customs revealed that China's steel imports reached a monthly record high in December, fueled by front-loading, prompted?by Beijing’s announcement of requiring export licenses for shipments starting 2026. Imports of iron ore?also reached a record in December, as well as...

China's rare-earth?exports reached their highest level in at least 2014 even though Beijing started?restricting?shipments of various medium to heavy elements starting April. Data from the General Administration of Customs revealed that the world's largest producer shipped out a total of 62.585 metric tons of this group of 17 components used in consumer electronics, automobiles, and defence equipments, with an increase of 12.9% annually. In April, China added magnets and seven heavy and medium rare earth elements to its export control list as a response to hefty U.S. duties. This led?to an abrupt drop in magnet exports in April & May....