Mining

Alcoa Corp, a U.S. aluminum company, is planning to sell 10 of its sites that have been closed or reduced to a minimum to the data center industry. The first sale will be completed by the end of June, according to its CEO. The data centres that are consuming more electricity than aluminium producers will be a fierce competitor for their supplies. But the surge in demand for energy also presents an opportunity to sell stakes at some sites selected because they are close to "plentiful" energy sources. Century Aluminum, Alcoa's rival, sold its unused Hawesville smelting plant to a...

The European Union faces a "transitional phase" of a few weeks in its relations with the United States. Maros SEFCIOC, European Trade Commissioner, said that President Donald Trump’s new “import surcharge” threatens to undermine a trade agreement the two sides reached last year. The EU's trade chief said at a hearing before the European Parliament, that his counterparts in the United States, Trade Representative Jamieson Greer, and Commerce Secretary Howard Lutnick had assured him that they were committed to last year’s agreement. He said that the surcharge would be in effect for 150 days and there was a deadline of...

Greenland's prime minister Jens-Frederik Nielsen responded "no thanks", on Sunday, to the idea of U.S. President Donald 'Trump' to send a hospital boat to Greenland. Trump has said repeatedly that he wants to takeover this territory. Trump announced on social media on Saturday that he is working with Jeff Landry, the Louisiana Governor and special envoy for Greenland to send a hospital boat to Greenland. "President Trump’s idea to send an American?hospital boat here to Greenland was noted. We do have a free public healthcare system. Nielsen said in a Facebook post that it was a "deliberate choice". Nielsen said...

The proposed rule, published by the Trump administration on Friday would pause work permits for asylum seekers for "many years". This would be one of the most significant changes in asylum-seeker employment authorizations for decades. The U.S. Department of Homeland Security has proposed a rule that aims to reduce the incentives for migrants to apply for asylum in order to obtain legal work authorization. It also aims to decrease the processing workload and increase security checks. The proposed change, which is likely to face legal challenges, is part of an effort by the Trump administration to reduce legal and illegal...

Futures for Canada’s main stock index increased?on Friday as gold prices continued to rise amid rising concerns about a possible conflict between the United States and Iran. As of 5:16 a.m., March futures?on S&P/TSX -composite index rose 0.3%. ET. Toronto's benchmark stock index reached a new record on Thursday, despite Wall Street ending lower. This was due to gains in commodity stocks. The benchmark index is expected to rise for a third straight week. Donald Trump, the U.S. president, warned Iran Thursday that "really bad" things could happen if it fails to reach an "meaningful agreement" over its nuclear program...

Anglo American reported a $3.7billion loss on Friday, after another writedown of its diamonds business. The miner is pushing ahead with plans to shed its non-core assets as well as complete its merger with?Teck Resources. Anglo has wrapped up an uneven reporting season for London listed mining groups. This highlights the divergent fortunes of the industry as Antofagasta benefitted from rising copper prices, while other diversified peers suffered due to weaker markets in iron ore and diamonds. The company recorded a $2.3bn pre-tax impairment on its De Beers division, reducing carrying value from over $4bn to $2.3bn. Analysts' estimates of...

?Anglo American reported a $3.7billion loss?on Friday, after taking a?writedown?on its diamonds' business. The miner is pushing ahead with its plans to shed its non-core assets as well as complete its merger with Teck Resources. Anglo has wrapped up the mixed reporting season of London-listed mining companies, highlighting the divergent fortunes in this industry. Antofagasta, for example, benefited from rising copper prices, while other diversified groups struggled to cope with weaker markets for iron ore and diamonds. The company declared a $0.23 dividend per share or about $200 million. It booked a $2.3billion pre-tax impairment related to its De Beers...

U.S. officials say that they are in "active negotiations" to sell Venezuelan crude oil to India, helping India diversify their sources of crude oil. Sergio Gor, the Envoy to India said Friday. The U.S. made diversification from Russian crude an important condition to reducing tariffs on Indian goods, the third largest oil consumer and importer in the world. Gor, a reporter on the sidelines of a New Delhi event where India joined the U.S. led Pax Silica initiative to build a silicon supply for high-tech devices, said: "The Department of Energy speaks with the Ministry of Energy in this country....

Indonesia and the United States have finalised a deal that will?cut U.S. levy to 19%, from 32%, on goods shipped out of Southeast Asia's largest economy. Jakarta has secured tariff exemptions for its top export, palm oi, as well as several other commodities. After months of negotiations, Indonesia's senior economist?Airlangga?Hartarto signed the agreement in Washington with U.S. trade representative Jamieson Greer. Airlangga, during an online media conference, said that the deal was a win-win for both countries. Palm oil was an important exemption for Indonesia, representing around 9% in its total exports. Airlangga announced that spices, coffee, cocoa and rubber...

Newmont beat Wall Street expectations for the fourth quarter profit, as a record rally boosted gold prices and offset lower production. The company also announced that it would spend $1.4 billion on developing assets acquired by its acquisition of Newcrest. After-market trading saw shares of the largest gold mining company in the world rise 2% to $127.96. In recent months, gold prices have reached multiple records, due to expectations of U.S. interest-rate reductions, increased geopolitical tensions, and economic uncertainty. The yellow metal's price averaged $4.135 per ounce during the last three quarters of 2025. This is up 56% compared to...

Vale Base Metals agreed to sell its majority stake in the Thompson Nickel Belt Mine in Manitoba to an investor consortium, which would create a new nickel-producing company in Canada. Exiro Minerals of Toronto, Orion Resources Partners and Canada Growth Fund are part of the consortium. Brazilian mining company Vale has agreed to sign a five-year agreement for the off-take of its 18.9% stake in Exiro Nickel. The new consortium will invest $200 million in order to revive a mine that Vale had been reviewing since last year, when the price of nickel fell to its lowest level in five...

The main Canadian stock index was a little subdued Thursday as declines in healthcare and financial shares overshadowed gains in energy stocks. As of 10:15 a.m., the S&P/TSX composite index was down 0.06%, at 33,368.79. ET. Bausch Health, a specialty pharmaceutical firm, fell 4.1% following a quarter-end loss. Healthcare shares were down 1.8%. Wall Street's main indexes fell on Thursday. Heavyweight technology stocks dropped after recent gains. The TSX tech stocks fell by 1.4% after a strong session. Heavyweight Financials fell by 0.8% The TSX Energy Index gained the most, 2%. Oil prices reached a six-month high amid fears of...

According to a termsheet, LG Energy Solution, a South Korean company, is selling its 7.5% stake in Australian lithium producer Liontown, or shares worth at least A$419,000,000 ($297.99 million), as part of a block transaction. The term sheet, which was seen by, showed that the South Korean company offers 239.5 million Liontown Shares at a range of A$1.75 - A$1.79 per share. The price floor is A$1.75 underwritten and investors are instructed to bid A$0.01 increments. LG 'Energy Solution' and Liontown didn't?respond immediately to requests for comment. According to the terms sheet, LG Energy Solution will no longer be a...

Analysts and consultancies have said that some Chinese steelmakers will need to reduce production by at least 30% starting March 4, in order to maintain a clean air quality for the annual parliamentary meeting. During meetings, Chinese steel mills are asked to reduce production to improve air quality, especially those located in the northern region near Beijing. State media announced in late December that the annual parliament meeting, which is closely watched, will begin on?March 5th. The consultancy Mysteel said in a Wednesday note that several steel?mills have been told to start voluntarily production controls and reduce?blast furnace output by...

Australia's Fortescue reported on Wednesday a?23% increase in its first-half profits, fueled by record iron ore shipment and higher realized prices for the commodity. The world's fourth-largest miner of iron ore said that iron ore shipments rose by more than 3% in the first half to a record 100,2 million metric tonnes. Fortescue's iron ore was sold for $90.87 per dry metric ton, up from $85.24 just a year ago. The company's underlying net profit attributable for the six-month period ended December 31 was $1.91 billion, which is below the Visible Alpha forecast of $1.98 billion but higher than the...

Glencore agreed to buy nearly 2,000 tons of cobalt from Rami Weisfisch, an industry veteran. The deal is a historic one. Two sources confirmed that the material, which is essential for defense and military gear, will be shipped to the United States to be included in its planned stockpile. The U.S. administration of President Donald Trump is actively seeking out critical materials, including cobalt, to reduce its dependence on China. China is the world's dominant supplier and processor for metals and minerals required by strategic industries. China has used its power to impose quotas, new regulations and ban the export...

The Dalian iron 'ore futures fell on Tuesday as a reaction to the fall in Singapore iron ores prices during the Lunar New Year holidays. The May contract for iron ore on China's Dalian Commodity Exchange traded 1.79 % lower at 740 yuan (US$107.40) per metric ton. As of 0704 GMT, the benchmark March iron ore traded on Singapore Exchange was up 0.78% at $96.6 per?ton. Trading on the DCE, SHFE and Singapore Exchange remained suspended between February 16 and 23 due to the Lunar New Year holiday. The benchmark Singapore Iron Ore contract lost 1.42% in the past week....

Japan's Nikkei average rose on Tuesday, as trading resumed following a long holiday weekend.?Artificial intelligence?related stocks rallied amid speculations of more investment in this hot sector. The Nikkei closed at 57 321.09, up 0.9%, while the Topix gained 0.2%. Last week, it was reported that Nvidia is close to finalising its $30 billion investment into OpenAI as the chipmaker looks to acquire a stake in?one of its largest customers. Nvidia is a bellwether for the AI industry and will report its results on Wednesday. Naoki Fujiwara, senior fund manager of Shinkin Asset Management, said that investors have reacted, even though...

The Dalian iron-ore futures fell on Tuesday in response to the drop in the 'Singapore iron-ore prices during the Lunar New Year holiday. However, a recovery in production and a fall in shipments are expected to support the prices. As of 0319 GMT, the most traded May iron ore contract at China's Dalian Commodity Exchange was trading 1.19% lower. It was 745 yuan (US$108.03) per metric ton. The benchmark March ore price on the Singapore Exchange rose by 0.89% to $96.7 per ton. Trading on the DCE, SHFE and Singapore Exchange ceased between February 16 and February 23 due to...

Gold demand in India remained low this week as volatility in prices discouraged buyers. Other major Asian hubs including China were closed for Lunar New Year holidays. Bullion dealers offer a discount on Up to $18 per an ounce for official domestic gold prices, inclusive of 6% import duties and 3% sales taxes. This is a significant increase from the previous week's discount of up $12. Jewellers in New Delhi are offering discounts on making charges to entice buyers. On?Friday the domestic gold price was trading at around 155,000 rupees for 10 grams. It had hit a high of 180...

Prices for two rare earths that are crucial to making super-strong magnets used in EVs or defence equipment have risen on the back of a?firm supply and a?firm demand. This is above an unprecedented price floor set by the U.S. As long as the price of MP Materials' neodymium & praseodymium remains above $110 per kilogram, the U.S. Government will not be required to subsidise the company. The price increase to $123 per kg, which is the highest level since July 2022 will also help other rare earth companies that Western governments are hoping will be able reduce their reliance...

A government source revealed that India was looking for new markets to export steel in the Middle East and Asia in order to offset the carbon tax imposed by the European Union in January. India, which is the second largest producer of crude iron and steel in the world, exports roughly two thirds of its output to Europe. The EU's Carbon Border adjustment Mechanism has put pressure on the flow of steel into Europe. Last week, Sandeep Poundrik, the Steel Secretary of India said that the government will have to take steps to support exports affected by Europe's Carbon Tax....

Investors were cautious in early trade Tuesday, as they awaited the U.S. Iran nuclear talks. Meanwhile,?Iran conducted a naval exercise near the Strait of Hormuz. Saudi Arabia's benchmark Index fell 0.9%. Al Rajhi Bank lost 1.1%, and Saudi Arabian Mining Company declined 3.3%. Saudi Aramco, the oil giant, is down by 0.4%. Crude oil prices, a key catalyst for Gulf financial markets, have dipped ahead of U.S. - Iran talks aimed at deescalating tensions in the face of expected OPEC+ production increases. Iran started a military exercise on Monday in the Strait of Hormuz. This is a crucial international shipping...

The Nikkei?average in Japan fell on Tuesday, as investors took a profit amid few new trading cues. Meanwhile, the post-election excitement was fading and the earnings season was coming to a close. The Nikkei closed at 56,566.49, down 0.4% on the day. It has fallen 1.9% in four sessions. The Topix, which is a broader measure of the market, fell 0.7% to 3,761.55. Ryotaro sawada is a senior analyst at Tokai Tokyo Intelligence Laboratory. "We are seeing some technical profiteering." After touching 72 on Friday, the Nikkei's RSI (relative strength index) for 14 days is now at 64. A level...