Mining

The Financial Times reported that Donald Trump intends to?reduce some tariffs on?goods made of steel and aluminum, citing a number of people who are familiar with the issue. The?Commerce Department officials and the?U.S. The FT reported that the trade representative's office believes the tariffs hurt consumers by increasing prices of goods such as pie tins, food-and drink cans, and beverage bottles. Cost-of-living and consumer prices are major concerns for voters nationwide as they head into the midterm elections in November. Recent /Ipsos survey showed that 30% of Americans approved of Trump’s handling of rising costs of living. 59% disapproved, including...

Lundin Gold, a Canadian mining company, is investing $100m?this year to prolong the life of its Fruta Del Norte mine located in Ecuador. The 'price of gold' remains high. Executives said that the investment is intended to "bolster" exploration efforts by adding 133,000 meters of drilling in concessions across the Amazonian Province of Zamora Chinchipe. This area has been affected by illegal mining. Lundin wants its reserves to be increased from 5.54 million ounces and find new deposits by launching a 3-year project in 2025. The mine has seven drilling rigs in the mine and another 11 on the surface....

According to 'provisional data', Ghana will produce 6 million ounces in 2025. The contribution of large-scale mining is 2.9 million ounces - the same as last year. The industry has warned that the projected 6.5 million-ounce production for next year is in danger, citing Ghana's planned overhaul to mineral royalties that could delay new projects or expansions which underpin 2026's production. The Ghana Chamber of Mines CEO Kenneth Ashigbey stated that 2025 production exceeded its target due?to artisanal and small scale mining (ASM), with a rise of about 3.1 millions ounces. REFORMS AND SURGING GOLD Prices Drive Output Ashigbey, speaking...

Mark Carney, the Canadian prime minister, will soon visit the remote British Columbia town of Tumbler Ridge where nine people died in one the worst mass shootings that has ever occurred, according to his office. Police say that 18-year old Jesse Van Rootselaar - who allegedly had mental health issues - shot and killed her mother, stepbrother, and a teacher at a local school on Tuesday. Van Rootselaar committed suicide after police said he was born as a man but started identifying himself as a female six years earlier. In a short statement that gave no further details, Carney's office...

Hindalco Industries, an Indian company, posted a 45% drop in its third quarter profit on Thursday. This was despite the?firmer prices of aluminium and cobalt. However expenses related to 'fire-related interruptions' at its U.S. Novelis. Aditya Birla's metals producer, owned by the?Group?, reported a net profit of 226.14 million dollars for the quarter ended December 31 compared to 37.35 billion rupees one year ago. The decline in revenue was due largely to 26,10 billion rupees in exceptional expenses related to an Oswego plant shutdown, located in?New York. A fire in its New York facility last year impacted the company's U.S....

In his latest effort to boost the coal sector, President Donald Trump ordered on Wednesday that the Defense Department purchase electricity from coal-fired?power?plants. The Pentagon is required to sign purchase agreements with coal-fired power stations for an undisclosed amount. This executive order was issued by the White House. The Energy Department announced $175 million in upgrades for six coal plants located in Kentucky, North Carolina?Ohio?, Virginia?and West Virginia. Utilities have been phase out coal-fired generators, which are major contributors to carbon emissions linked to climate change. Trump, who called climate change a "hoax", has promised to speed up energy infrastructure...

Albemarle is the world's biggest producer of lithium. It posted a?larger-than-expected loss on Wednesday. The company also announced that it would be?idling a major Australian?processing?plant due to its continued?struggle with low prices for battery metal. After-hours trading saw shares of the Charlotte-based company fall 3.1%. Prices of lithium have fallen by more than 90 percent in the last two years, largely due to an oversupply coming from China. This has led to layoffs, buyouts, and project delays at Albemarle, and other companies. Prices have increased in recent months but remain below the all-time highs of 2023. Albemarle announced that it...

Martin Marietta Materials reported a weak 'annual sales forecast on Wednesday. This comes after the company reported a drop in its fourth quarter 'profit. Following the results, the shares of the company dropped by about 3% during premarket trading. An artificial-intelligence-led push to build more ?data centers, alongside energy and infrastructure projects, has supported ?aggregates demand, nudging shipments up 2% in ?the quarter and prices over 5%. Even so, the company's earnings were impacted by higher fuel and energy costs, as well as acquisition charges in an inflationary environment. Ward Nye, CEO of Martin?Marietta, said that the company's data center...

Futures that track Canada's main index of stocks rose on Wednesday. This was largely due to a 'jump in precious metals' and oil prices, which could provide 'fresh insight' into the Federal Reserve's interest rate path. As of 5:52 a.m., March 'futures' on the S&P/TSX Composite Index were up 0.33%. ET. Toronto's resource-heavy benchmark stock index closed Tuesday at a new record high of 33.256.83, boosted by the strength in industrial stocks and continued gains in mining shares. Investors will be watching the U.S. Jobs data for January. It is scheduled to be released at 8:30 am. ET for clues...

QXO Building Products, headed by billionaire Brad Jacobs and his team, has agreed with Kodiak Building Partners to purchase the smaller private distributor for $2.25 million. According to two people who have direct knowledge of the deal, QXO is led by billionaire Brad Jacobs and has agreed to buy smaller private distributor Kodiak Building Partners for about $2.25? Jacobs, chairman and CEO at QXO has been trying to compete with retail giants Home Depot, Lowe's and Lowe's for building product distribution. QXO has acquired Beacon Roofing Supply for $11 billion last year. Beacon Roofing Supply was purchased for $11?billion by...

Xinhua, the state news agency, reported that Premier Li 'Qiang', China's second highest official, visited rare earth facilities in southern province of Jiangxi, on Tuesday. The visit was used to imply a more intense competition between China and the United States. Over strategic minerals. These pre-holiday visits are a chance for China's top leaders to communicate their policy before the Lunar New Year celebrations begin. The readout on Wednesday subtly highlighted how Beijing has become more powerful in its negotiations with Washington by gaining access to critical components for everything from smartphones to autos. Rare earths?are also key in the...

The Mexican security minister stated on Tuesday that a group of ten miners who were kidnapped last month in northern Mexico may have been mistaken as members of a rival crime group. This was after authorities questioned the initial suspects. The authorities in the violent state of Sinaloa announced on Monday that 10 bodies had been recovered in their search for the workers kidnapped at a mine operated by Canada's Vizsla?Corp. However, the Mexican Attorney General's Office said they only identified five bodies. Security Minister Omar Harfuch stated at Tuesday's President?Claudia Sheinbaum daily press conference that "the detainees initial statements...

Iron ore futures fell on Friday, as traders closed out their 'positions' ahead of the Lunar New Year holidays in China. During this time, demand is expected to fall significantly. The most-traded May iron ore contract at China's Dalian Commodity Exchange closed the daytime trading down 2.36% to 746 yuan (107.96 dollars) per metric ton. This contract has fallen 1.44% this week. As of 0715 GMT, the benchmark March iron ore traded on the Singapore Exchange at $97.25 per ton. This is a 2.34% decrease. The contract has fallen 1.76% this week and is on track for its fifth consecutive...

China's Zijin Mining plans to start Congo's first lithium production in June at the disputed Manono mine and export it immediately, according to Cominiere, a state-owned mining company. This is a significant step for Beijing in its push to secure critical minerals in Africa. Zijin previously stated a start in the first quarter of 2026, but said on Tuesday that this is now updated planning. After the Democratic?Republic of Congo revoked the permit of Australian miner AVZ, the Manono resource is now at the center of arbitration. Zijin, in a joint venture with Cominiere, reassigned a part of the site....

Three sources familiar with the matter have told us that CME Group has been working on a plan to launch the first futures contract for rare earths in the world. This would allow governments, companies, and banks to hedge their exposure to the 'China-controlled sector. Two sources claim that the rival Intercontinental Exchange also plans to offer rare earth futures but it is not as far along in its planning process as CME. CME declined comment, and ICE didn't immediately respond to a comment request. Banks are reluctant to finance Western projects, in an industry where volatile prices can be...

Iron ore futures struggled to find direction on Wednesday, before erasing their?early gains. This was despite China, the world's largest consumer, offering financial support. The most-traded May iron ore contract at China's Dalian Commodity Exchange was down by 0.07% to 762.5 Yuan ($110.31). As of 0700 GMT, the benchmark March iron ore was trading at $99.9 per ton on the Singapore Exchange. China's central banks?said on Tuesday that it would increase financial support for domestic demand as a result of?industrial excess and lacklustre consumer confidence, which dampened the growth outlook. Data released on Wednesday showed that China's consumer price inflation...

Iron ore futures continued to rise on Wednesday, after the central bank of top consumer China pledged financial assistance to boost domestic consumption. This was exemplified in a?lower than expected consumption data. As of 0234 GMT, the most-traded May iron ore contract on?China's Dalian Commodity Exchange was up 0.26% to 765 yuan (US$110.63) per metric ton. The benchmark March ore traded on the Singapore Exchange at $100.35 per ton, up 0.17%. China's central banks said on Tuesday that it would increase financial support for domestic demand as overcapacity in the industrial sector and lacklustre consumption weighed down business confidence. Still,...

JX Advanced Metal raised its dividend and net profit forecasts for the year ending in March. They cited a strong demand for materials used to build artificial intelligence servers, as well as higher copper prices. The Japanese company raised its net profit forecast for the year to 93 billion Japanese yen ($598 millions) from 79 billion yen in November. The company said that demand for products in the segment of 'information and communication materials' for AI server applications has grown 'faster than expected. Stronger copper prices have also supported the growth. The company has increased its dividend per share to?27...

The price of iron ore rose on Tuesday, after six sessions of declines, as low prices encouraged steelmills to purchase feedstock. A drop in weekly shipments was also supportive. As of 0256 GMT, the most-traded contract for May iron ore on China's Dalian Commodity Exchange was trading 0.2% higher. It was 763 yuan (US$110.42) per metric ton. The benchmark March ore traded on the Singapore Exchange is now trading at $100.2 per ton. This price is above the psychological $100 threshold. According to a report by the?consultancy Mysteel, the total amount of iron ore that arrived?at 47 Chinese port decreased...

Iron ore futures in Dalian fell for the sixth time on Monday, as concerns over supply disruptions subsided after the Australian hub port resumed operations after a cyclone alert. As of 0258 GMT, the most-traded contract for May iron ore on China's Dalian Commodity Exchange was trading 0.33% lower. It was 762.5 Yuan ($109.98). The benchmark March ore traded on the Singapore Exchange rose 0.72% to $99.75 per ton. Singapore's benchmark dropped below $100 per ton, as the demand in China slowed before the Lunar New Year holiday. Data from Steelhome, released on 6 February, showed that iron ore inventories...

China launched a reusable experiment spacecraft into orbit aboard a Long March-2F rocket carrier from the Jiuquan Satellite Launch Center located in 'the 'northwest of the country on Saturday. State news agency Xinhua confirmed this. Xinhua reported that the mission would provide technical support to the peaceful use of space by evaluating reusable spacecraft. However, it did not specify how long the 'craft' will be in orbit. The report does not mention what technologies were used or how high they flew. This is the 'fourth launch of a reusable satellite by the country since 2020. It is believed that the...

The People's Bank of China's (PBOC) data released on Saturday showed that China's central banks continued its gold-buying spree in January for a fifteenth consecutive month. By the end of the month, the country's gold holdings had risen to 74.19 fine troy pounds. This is up from the previous 74.15. According to the PBOC, the value of China’s gold reserves rose to $369.58 Billion at the end last?month. This is up from $319.45 Billion a month before. In January, gold, which has been viewed as a safe haven to protect against political and economic risks, experienced a wild surge in...

The Singapore contract fell below $100 for the first time in November 2025. This is part of a broad commodities decline triggered by the fall of Wall Street tech stocks. The May contract for iron ore, the most traded on China's Dalian Commodity Exchange(DCE), ended daytime trade at 760.5 Yuan ($109.59) per metric ton. The contract ended the week 3.53% lower. As of 0722 GMT, the benchmark March iron ore traded on the Singapore Exchange had fallen 1.26% to $99.35 per ton. Iron?ore has fallen 4.28% this week and is set to have its 'fourth consecutive week of declines. After...

South Africa announced on Friday that the 'trade minister' had signed an economic framework partnership agreement during a trip to China. It described this as a "step" towards ensuring duty-free access for South African exports to the Chinese market. Africa's largest economy, which is the second largest bilateral trading partner in Africa after China, wants to boost its exports despite a dispute over tariffs with the United States. In August, U.S. president Donald Trump imposed the highest tariff rate in Sub-Saharan Africa of?30% on South African exports. The South African trade ministry announced in a press release that Minister Parks...