Mining

Australian shares closed at a three-week-high on Wednesday, with gains led by gold miners. Prices of bullion were buoyed by optimism about a possible deescalation in conflict over Iran. The benchmark S&P/ASX 200 ended the day 2.2% higher at 8,671.80, its highest level since March 11, The ASX 200 index had fallen 7.8% in march, its steepest monthly drop since June 2022. After reports that?saidU.S. Donald Trump said he was willing to stop the military campaign against Iran, even if the 'Strait of Hormuz' was largely closed. Gold prices rose, which gave Australian gold miners an extra push. The yellow...

Ivanhoe Mines announced on Tuesday that an updated independent study has lowered the near-term production estimate for the company's copper?complex in the Democratic Republic of Congo. The 'technical report', which supports the Canadian miner’s plan to increase production at the Kamoa Kakula complex has lowered the estimate of 2026 copper anode output to a range between 290,000 and 330,000 tonnes. The outlook for 2027 was also reduced to between 380,000 and 420,000 tonnes. Kamoa-Kakula is one of the highest-grade copper projects in the world. It has become a major growth source for a market with limited supply and limited new...

BRCK Group's shares soared more than 24 percent on Tuesday, after the UK-based construction materials supplier announced that it had rejected a 65-pence-per share takeover?approach by U.S. private-equity firm Atlas Holdings last week. The group claimed that its board unanimously rejected the non-binding offer of cash on 23 March, saying that it fundamentally undervalued?the?company. Atlas stated that BRCK board will only provide limited additional information. While it will'review what is shared,' it doubts such minimal details will 'allow it to confirm a proposal. LSEG data shows that the proposal valued BRCK (which distributes bricks and roofing tiles, as well as...

Analysts said that with the 'attacks' on two of the largest aluminium smelters across the Middle East, Iran targeted a'major supplier to the United States?of a metal strategic the United States does not produce nearly enough domestically. The disruption caused by the Iran War was most evident before the weekend. It was mainly due to the difficulties of shipping raw materials and aluminium through the Strait of Hormuz. This has been closed down by Tehran. Emirates Global Aluminium, however, reported that its Al Taweelah plant in Abu Dhabi (the United Arab Emirates), which produces approximately 1.5 million metric tons per...

The head of Schindler, a Swiss?lift manufacturer, said on?Tuesday that the company will contest any?merger between rivals Kone Elevator and TK Elevator in front of antitrust authorities. Bloomberg News reported last 'week that Finland's Kone is in talks to purchase TK Elevator. The merger would make Schindler the second largest lift manufacturer in the world, surpassing the current leader OTIS. Schindler CEO Paolo Compagna stated that the deal would be "a bloodbath", bound to disrupt the lift industry as the world's third and fourth largest lift manufacturers would have to integrate overlapping customer bases and production sites, and teams. Compagna...

According to sources familiar with these talks, Canada and South 'America's Mercosur are moving towards a free trade agreement. It could be signed before the end of this year. One official from Canada, Argentina, and Brazil said that they expect the deal to be completed in 2026. Another stated that discussions are progressing well, and could be finished before September. An official from the Argentinean government said that an agreement would be expected to be signed by September or October. This will mark roughly a year after formal negotiations were restarted. A second diplomat based in Brazil also confirmed that...

Codelco (Chilean state-owned) is the largest copper producer in the world. It reported on Friday a profit before tax of $4.85 billion by 2025. The company reported that it had produced 1.33 million tons of pig iron through December, an increase of 0.5% over 2024. The state-run company also reported earnings before taxes, depreciation, and amortization (EBITDA), which was $6.67 billion in 2025, a 23% rise compared to the year before. Codelco reported that production at its Ministro Hales and Radomiro Tomic mines, and at the Salvador mine, helped offset declines at Chuquicamata, Gabriela Mistral and due to geological factors....

Singapore announced plans to transform the city-state of Singapore into a gold trading center for the entire Asia. Regulators and industry players are working together to improve the trading, clearing, and storage infrastructure. Singapore is one of many Asian financial centers racing to increase their gold trading and capture more bullion flows. Hong Kong, too, is pushing to expand the gold market's links with Shanghai. The Singapore Bullion Market Association and the Monetary Authority of Singapore have identified four areas of focus. These include the expansion of gold-related products on the capital markets and the establishment of a trust clearing...

John Axelberg's best customer recently asked him to invest $800,000.00 to double the production of tubular frames his factory produces for large-scale solar farms. He said no Axelberg’s small metal-forming business's solar division fueled the company's 30% revenue increase last year, thanks to tax incentives from the Inflation Reduction Act, passed by President Joe Biden. However, the rest of the industries Axelberg serves, including heavy trucks and farm equipment, were collectively down 20%. He is also concerned about solar. Donald Trump has said that his policies will unleash a new American manufacturing boom. In industrial communities like South Bend, however,...

France is one of the countries that will invest in critical Australian minerals projects, according to Australia's Resources Minister on Thursday. Canberra's framework agreement with the U.S. encourages nations with advanced manufacturing industries to secure access to supply. Australia is on a mission for the past four years to create an industry that will produce?minerals? like rare earths, which are essential to technologies in future such as electronics and defense. Countries want to diversify away from China as their dominant supplier. Australia signed agreements with Japan, South Korea and India as well as France, Germany, Britain, France and Germany for...

Albemarle, the largest lithium producer in the world, announced on Wednesday that it had begun the environmental review process for its first Direct Lithium Extraction project (DLE) in Chile. Albemarle stated in a press release that the project was designed to recover twice as much lithium while reducing the amount extracted of brine compared?to the current operations. Albemarle said in a submission to the Chilean Environmental Assessment Agency that if the project were completed, it would require a total investment of $3.1 billion with a useful lifetime lasting until 2045. The initiative is aimed at a?more sustainable and efficient production...

Prices of copper rose on Wednesday as a weaker dollar and renewed hope for a 'de-escalation' in the Middle East war helped to boost?demand? prospects. The Shanghai Futures Exchange's most traded copper contract ended daytime trading up 1.14%, at 95,590 Yuan ($13.864.67) per ton. As of 0722 GMT, the benchmark three-month copper price on London Metal Exchange rose 1.19% to $12,244.5 per tonne. Both copper prices in Shanghai and London 'lost ground' on Tuesday, as rising energy prices and a protracted Iran war heightened concerns about inflation and global economic growth. The market sentiment improved significantly on Wednesday after U.S....

Prices of iron ore futures rebounded Wednesday on the back of upbeat factory data, and expectations that China's top consumer could take a?stimulus measure to brighten demand prospects. As of 15:00 GMT, the most-traded contract of iron ore on China's Dalian Commodity Exchange climbed 0.62%, to 816 Yuan ($118.55), a metric tonne, after a 0.8% drop the previous day. By 0145 GMT, the benchmark May iron ore contract on Singapore Exchange was up 0.68% at $106.2 per ton. China's factory output grew at its fastest rate in a full year in March. This was a relief to an economy that...

Aluminum prices rose on Tuesday. They were near their four-year highs and poised to make the biggest monthly gain since?almost 2 years. This was due to fears that a supply shortage would continue after Iranian strikes over the weekend damaged some of the Gulf's key smelters. The benchmark 'three-month' aluminum on the London Metal Exchange increased 2.1% by 1600GMT to $3,471.50 per metric ton, after earlier reaching $3,536, which was its highest level since March 12. Metal prices are up 10.6% in March. The attacks on Iran damaged two aluminum plants in the Gulf region operated by Aluminium Bahrain, and...

Sources with direct knowledge of the matter reportedly said on 'Tuesday that Tether had?let go? two senior precious metals trader?it hired only three months earlier from HSBC. El Salvador-headquartered Tether cut the roles as spot gold prices headed for their steepest monthly drop since the 2008 financial crisis, pressured by fading expectations of rate cuts and rising energy costs amid the war in ?Iran. Tether holds about 130 metric tonnes of physical gold backing their products by the end of 2025. CEO Paolo Ardoino told in January that they also planned to allocate 10-15% of their own investment portfolio to...

After easing restrictions, India allowed some state firms, including Bharat Electricals and the Steel Authority of India, to purchase critical equipment from China on Friday, according to both a government source and a document. Last month, it was reported that India would ease restrictions on purchasing Chinese equipment after a deadly border clash in 2020. This would allow state-run coal and power companies to import limited quantities of Chinese equipment as shortages and delays grew. India has also since eased its investment restrictions on China. The government order stated that Bharat Heavy Electricals, India's biggest state-run power equipment manufacturer, can...

The Congolese government announced that the Democratic Republic of Congo and China had signed an agreement to enhance cooperation in the mining sector of 'the African nation.' Global powers are jockeying for influence in this strategically significant minerals powerhouse. Congo is the largest producer of cobalt in the world and has vast reserves of lithium, copper, coltan, and other battery metals. Chinese mining companies, led by top cobalt miners CMOC, Zijin and Huayou, already dominate the sector. Beijing is Congo's largest bilateral creditor. Kinshasa is also a target for the United States and other countries looking to obtain the minerals...

Iron ore futures fell on Friday as traders unwound their?supply disruption bets following Tropical Cyclone Narelle's spared of vital port infrastructure in Western Australia. As of 0330 GMT, the most-traded contract for May iron ore on China's Dalian Commodity Exchange?traded at $813.60 ($117.60) per metric ton. The contract has still gained 0.13% this week. On the Singapore Exchange, the benchmark April Iron Ore was $107 per ton. This is a 0.32% decrease. This week, it has fallen 1%. Atilla Widnell is the managing director of Navigate Commodities. She said that iron ore futures will?likely experience a temporary corrective, because traders...

Four sources said that the Middle East conflict had tightened the supply of aluminium. As a result, Japanese aluminium buyers paid a premium between $350 and $353 per metric ton, the highest in 11 years. Japan is the largest Asian importer and the premiums it pays for metals shipped each quarter above the London Metal Exchange cash price (LME) serve as a regional benchmark. The new rate is 79%-81% higher than the $195 premium paid during the January-March period. This marks the second consecutive quarterly increase, and the highest level since April-June 2015. Global producers offered Japanese buyers a premium...

According to traders, inventories of BHP's Jimblebar Fines, a kind of?iron ore?, in some Chinese ports?slid down to a two-month-low after steelmakers?rushed to get delivery?during an one-week?ban?reprieve. Four traders familiar with the matter stated that Jimblebar stocks in 15 major Chinese ports dropped 6% from one week to another, reaching 8.9 million tonnes on March 24. This is the lowest level seen since late January. One of the traders stated that this is the steepest weekly drop since March 2025. Sources requested anonymity because they were not authorized to speak with the media. China Mineral Resources Group, the state-run buyer...

Iron ore futures were higher on Thursday due to a concern over the supply of iron ore from Australia, following the closure of key ports in the Pilbara region because of a cyclone. The most-traded May iron ore contract at China's Dalian Commodity Exchange rose 0.18%, to 817 Yuan ($118.40), per metric ton. As of 0711 GMT, the benchmark April iron ore traded on Singapore Exchange was trading at $107.35 per ton. The operator of the iron ore port said that the key ports were closed on Thursday due to a tropical storm which struck the resource-rich Pilbara region. Pilbara...

The copper price jumped on Wednesday, after the U.S. reported that it was seeking a ceasefire during the Iran War and because of a stronger Chinese demand. However, the market remained cautious -after Tehran denied any negotiations. The benchmark three-month copper price on the London Metal Exchange rose 1.3% at 1030 GMT to $12,257 a metric ton, after falling by 0.6% the previous session. Ole Hansen is the head of commodity strategy at Saxo Bank, in Copenhagen. Israel and Iran exchanged strikes on Wednesday after the Iranian military rejected the assertion by President Donald Trump that the U.S. is in...

Prices of copper rose on Wednesday as a softer dollar and renewed hope for a deescalation of the Middle East conflict boosted?demand prospects. The Shanghai Futures Exchange's most traded copper contract rose by 1.36%, to 95,800 Yuan ($13.916.13) per ton at 0153 GMT. The benchmark three-month copper price on the London Metal Exchange rose 1.49%, to $12281 per tonne. The market sentiment improved significantly after U.S. President Donald Trump stated on Tuesday that Washington was making progress in its negotiations to end the war with Iran and had won an important concession from Tehran. Analysts at Everbright Futures wrote in...

An EU Commission spokesperson said that the European Union was in the "last miles" of negotiations for a trade deal with Australia. The EU is attempting to diversify its trade, reduce its dependence on China, and mitigate the impact of U.S. Tariffs. Since President Donald Trump launched his global tariff offensive in 2017 and China cut back on exports of vital minerals, the European Commission has been accelerating talks to achieve free trade agreements. In the last six months, it has already signed trade agreements with Indonesia and India. The European Commission's President Ursula von der Leyen will be visiting...