Latest News
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TSX increases as mining stocks rise
Canada's main index of stocks rose on Monday. The gains were boosted by mining shares as precious metals prices continued to rise and helped?the commodities heavy benchmark climb for the second consecutive session. As of 10:28 a.m., the S&P/TSX composite index was up 0.6% to 32,667. ET. On Friday, the index posted its largest daily gain in four months as miners advanced after a "recovery" in precious metals prices supported by a weaker U.S. Dollar. The spot price of?gold and silver rose by 1.8%, respectively, and copper prices also increased. TSX gold index grew by 2.3% while materials index, including mining shares, grew by 2%. Analysts said that despite recent volatility in the gold price, investors remain optimistic about long-term gold prices. Brian Madden is the chief investment officer of First Avenue Investment Counsel. He said, "Volatility may have increased, but we still hold a fairly?core position. We think that gold's path of least-resistance will be higher." Financials, which is the sector that has the most weight, gained 0.5%. Oil prices fluctuated as traders assessed the U.S.?and Iran's commitment to continue discussions following Friday's positive talks in Oman and slowed Russian flows into Indian refineries. TSX energy index was up by 0.1%. However, technology shares fell by 0.6% while industrials dropped 0.3%. Investors now await ?U.S. Investors are now awaiting?U.S. This week, a slew corporate?results will be released. Vizsla's shares fell 14% when the miner announced that workers abducted from its Concordia project site, Mexico, had been found dead. (Reporting and editing by Jonathan Ananda; Utkarsh Tushr Hathi)
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Eramet shares drop as CFO's suspension deepens management crisis
Eramet shares fell on Monday after news broke that the French mining group's finance chief was temporarily suspended. This exacerbated a management crisis triggered by the removal of the former CEO a few days earlier. Eramet?said earlier in a press release that the suspension of Abel MartinsAlexandre pending an investigation of his management methods was not connected to the firing Paulo Castellari from the CEO position on February 1. Maxime Kogge, an analyst at Oddo BHF, said that the timing of this announcement was not ideal. "Eramet faces the risk of being downgraded by rating agencies because of its stressed financial situation." Eramet’s?stock dropped 6% in Paris by mid-afternoon, making it one of the largest losers on the SBF 120 index. The Nickel, Manganese, and Lithium miner attributed the dismissal to "operating methods", particularly coordination with the company's board and teams. Analysts worry about the'management upheaval' after praising Castellari for his early efforts to overhaul the company, which has seen its results fall and debt rise in the last year due to the weak metal markets and investments made in lithium. Eramet will announce its?annual results, with a market cap of almost 2 billion euros (2.38 billion dollars), on February 18. Christel Bories, the chairwoman of Eramet and former CEO, is now acting CEO. She has taken over the role that she handed to Castellari in 2017. The 'group' said that MartinsAlexandre was temporarily relieved from his duties to "allow for the proper conduct of an independent investigation which has been launched following a warning by several employees of?the finance department regarding?the department management." The Financial Times reported that the company initially confirmed the suspension of the CFO late Friday night. The French state and the Duval?family are its largest shareholders, with approximately 27% each. The Duval family and the French Finance Ministry did not immediately respond to comments. Reporting by Gus Trompiz, Dominique Vidalon and Gianluca Nostro. Additional reporting by Gianluca. Editing by Inti and Anil D’Silva.
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Mining chamber: Three of ten kidnapped miners found dead in Mexico
The country's mining chamber announced on Monday that three of the 10 miners kidnapped from a mine in Mexico's northern Sinaloa state last month by Vizsla's Silver Corp. were found dead. Local authorities confirmed the death of Ignacio Aurelio Salazar and Jose Manuel Castaneda, according to a statement by Mexico's mining chamber Camimex. Camimex demanded an investigation in order to determine who was responsible. Camimex said that it was important to find our missing coworkers alive and return them home where they belong. The group was taken at the end January from a mine of silver in an area that security authorities claim is controlled by the Chapitos. This faction of the Sinaloa cartel is led?by sons of former Mexican drug lord Joaquin 'El Chapo' Guzman. Vancouver-based Vizsla said that it was focused on the safe return of those who are still missing and support the affected families. Michael Konnert, CEO of the company, said: "We are deeply saddened by this tragic outcome and the tragic death. Vizsla Silver said that it would provide updates once it received confirmations from Mexican officials. Since the kidnapping, its Panuco Mine has been closed and company shares are down almost 6% on Monday. The Attorney General's Office of Mexico did not respond immediately to a comment request. Mexican authorities announced on Friday that a body found in a secret grave near Mazatlan, some 45 kilometers (28 miles) away from Concordia, matched the description for one of the missing miner's. Mexico sent more than?1,000 troops to the area, including elite Marines, over the weekend, in an effort to find the missing miners. Four suspects were arrested Thursday in the case. In a Monday press conference, President Claudia Sheinbaum stated that the federal government is 'in close contact with workers' families and mining companies. She said, "We're examining everything that might have led to this situation." "We hope that a situation such as this never happens again." The relatives of four kidnapped miner families said they were not asked to pay a ransom. However, workers told them that the area is dangerous because of local criminal groups. Reporting by Pranav Mathematics in Bengaluru; Sarah Morland, Raul Cortes and LizabethDiaz in Mexico City. Editing by Arun K. Koyyur and Mark Porter.
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Israeli forces kill four militants and a farmer in Gaza
Israel's military said that Israeli forces killed four militants on Monday in Rafah, in the southern Gaza Strip. They opened fire after they emerged from a tunnel underground and fired on troops. The attack was a violation, according to the US government, of the ceasefire that had been negotiated by the U.S. with the Palestinian Islamist Hamas and that came into effect in Gaza last year. It viewed the incident as "extremely grave". Hamas did not immediately comment, but sources close to Hamas identified Anas Annashar as the son of Issa, a senior Hamas official who was also the co-founder of the group. Israel has responded to similar incidents by airstriking the entire enclave where dozens of people were killed in recent months. Health officials reported that an Israeli airstrike on Monday killed three Palestinians inside an apartment in Gaza City, located north of the enclave. No immediate comments were made by the Israeli military. However, a security source told the?that the Israeli army "striked in retaliation to Hamas' breach of the ceasefire". Since the ceasefire, dozens of Hamas fighters have been trapped underground in tunnels. Some have been killed by Israeli forces in subsequent clashes. According to local health officials, Israeli forces also shot and killed a Palestinian in Deir Al-Balah, a central Gaza Strip town. Israel has not commented on the incident immediately. The ceasefire has been repeatedly violated by violence and both sides have blamed each other for truce violations. Washington is pressing them to move on to the next phases in the ceasefire agreement, which is meant to end the war 'forever'. The next phase in President Donald Trump's Gaza Plan calls for the resolution of complex issues, such as the?Hamas de-armament which the group has rejected for years, an additional Israeli withdrawal from Gaza, and the deployment of a international peacekeeping force. Gaza's health ministry reported that at least 580 Palestinians have been killed by Israeli fire since October's ceasefire agreement. Israel claims that militants in Gaza have killed four soldiers during the same time period. Gaza's war began with Hamas' attacks in southern Israel on October 7, 2023, which killed over 1,200 people. According to the Palestinian Health Ministry, the death toll for Palestinians in Gaza has now exceeded 71,000. (Reporting and editing by Timothy Heritage, Kevin Liffey, and Emily Rose; Additional reporting by Nidal Al-Mughrabi)
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South African rand begins week stronger as gold rebound
The South African rand started the week on Monday?stronger, thanks mainly to the?renewed rise in its core export gold. At 1508 GMT the rand was trading at 15.9150 per dollar, up roughly 0.8% from Friday's closing price. ETM Analytics stated in a research note that "gold and platinum prices are recovering from their lows. This gives some comfort that the ZAR will enjoy renewed commodity price benefits through the coming week." The U.S. Dollar last traded 0.7% lower against a basket?of currencies. Investors awaited the upcoming?jobs data and inflation data to gauge the direction of U.S. rates. In Cape Town, the annual mining conference, which runs until Thursday, brings together government officials, mining executives, and investors from around the world. South Africa's Statistics Agency will also release December manufacturing and mining figures on Thursday. "For the moment, South Africa's trade terms remain favorable, and the outlook for the ZAR remains similarly positive, especially if foreign investors are continuing to position themselves with a lower risk profile," ETM Analytics stated. The yield on South Africa's 2035 benchmark government bond fell by 3 basis points, to 8.025%. Reporting by Sfundo parakozov, Editing by Harikrishnan Nair & Andrew Heavens
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Sibanye anticipates short-term volatility in the platinum price, but a return to previous lows is unlikely
Richard Stewart, CEO of Sibanye Stillwater mining group, stated on Monday that platinum group metal prices would remain volatile for the foreseeable future, but they are unlikely to return to the "unsustainable lows" seen last year. The price of palladium and platinum, both used in autocatalysts that reduce exhaust emissions from cars, has risen since the second half 2025. This is due to a shortage of supply which helped to offset the long-term effects of the growth of electric vehicles. Spot platinum has fallen 1.6% in 2026, after soaring 127% from?2025 to a record $2.918.80 an ounce in January. Stewart told?on the fringes of the Africa Mining Indaba that he believes a higher price floor for the industry has been established. Stewart stated, "I believe the prices will continue to fluctuate." "But I do not think that they will return to the low base we had last year. It was unsustainable. "It was not sustainable." Sibanye was also evaluating when to restart its Stillwater West Mine in the United States. This mine had been placed on care-and-maintenance in 2024. He said that the decision would be based on a longer-term perspective of the palladium markets, rather than on short-term price movements. Stewart said, "I'm not sure we will make a decision until we see how the world develops over the next 12-24 months." Stewart stated that preliminary findings are expected to be released this month or in early March on the petition of?Sibanye to the U.S. for a tariff to be imposed on Russian imports of palladium to ensure the viability and long-term viability U.S. supply. FINLAND'S LITHIUM MANUFACTURE TO BEGIN IN THE FOURTH QUARTER The diversified miner will be completing the?commissioning phase of its Keliber Lithium project in Finland in this year. Production of technical-grade liquid lithium is expected to begin in the fourth quarter. Stewart stated that the final step in production of battery-grade Lithium?at Keliber would be dependent on metal prices and offtake arrangements. He said that long-term agreements for offtake would be as important as the price to protect miners from potential oversupply, especially from China. Stewart explained: "If we are producing a product of battery grade, we ultimately want to supply it into European supply chains, and have partners and offtakes which make commercial sense." He added, "So these are the things we're looking at right now." (Reporting and editing by Nqobile Dudla, Olivia Kumwenda Mtambo)
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Israeli forces kill four militants and a farmer in Gaza
Israel's military reported that four militants were killed by Israeli forces in Rafah, in the southern Gaza Strip, on Monday. They had emerged from a?underground trough and fired on troops. It said that the attack on Israeli troops was a violation of the ceasefire brokered by the U.S. with the Palestinian Islamist Hamas, which went into effect in Gaza last year. Israel responded to similar incidents by airstriking the entire enclave where dozens of people were killed. Hamas did not immediately comment, but sources close to the group said that Anas Annashar was one of those who died. He is the son of an ex-?senior Hamas political figure. Since the ceasefire, dozens of Hamas fighters were trapped in tunnels beneath Rafah. Some have since been killed by Israeli forces in clashes. According to local authorities, in a separate incident?Israeli forces shot a Palestinian farmer and killed him in Deir Al-Balah, in the central Gaza Strip. Israel has not commented on the incident immediately. The ceasefire has been repeatedly disrupted by violence, and both sides have blamed each other for truce violations. Washington is pressing them to move on to the next phases of the deal to end the war. Next, President Donald Trump’s Gaza plan will require a solution to complex issues, such as Hamas' disarmament which it has rejected for years, and a further Israeli withdrawal from Gaza, along with the deployment of a peacekeeping international force. Gaza's health ministry reported that at least 580 Palestinians have been killed in Israeli fire since the October ceasefire agreement. Israel claims that militants have killed four soldiers in Gaza during the same time period. Hamas' attacks against southern Israel on October 7, 2023, which killed over 1,200 people, began the Gaza war. According to data from the Palestinian Health Ministry, Gaza's death toll now exceeds 71,000.
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TechMet CEO targets new funding of up to $200 Million
TechMet, a U.S. investment vehicle backed by the United States, is seeking to raise an additional $200 million to finance vital minerals projects. CEO Brian Menell said on Monday. TechMet, a privately-held company that owns stakes of ten companies, including Brazilian Nickel, South Africa's Rainbow Rare Earths and Qatar Investment Authority, raised $300 million last year, including $180 from the Qatar Investment Authority. TechMet has reopened its fundraising. The company, valued at over $1 billion, focuses on developing businesses along the entire critical minerals value chain. Menell said on the sidelines an African mining conference in Cape Town: "We kept it open to find another one or 200 million dollars (dollars). We're currently busy concluding this." "There is a great deal of interest in further investment, beyond the initial?target we set." Race to secure critical mineral supplies TechMet's largest investor is the?U.S. The International Development Finance Corp of the U.S. The U.S. and China are engaged in a race to secure copper, cobalt, and other essential minerals on the African continent. Washington is focusing its efforts primarily on Zambia,?Guinea, and the Democratic Republic of Congo. Menell stated that TechMet was open to exploring new investment opportunities in countries like Congo and Zambia but its focus at the moment is on advancing current projects. "We are certainly open to the DRC. We want to be a major player in DRC at some point. "We'll see" what that point is. "We're not looking for anything immediate but are always open to new opportunities." Congo is the second largest copper producer in the world and accounts for more than 70% of all cobalt. Menell said that Zambia offers other compelling prospects. He cited its appeal for copper, and to a lesser degree, cobalt, and other minerals. (Reporting and editing by David Holmes; Olivia Kumwenda Mtambo)
What is Trump's partial tariff pause?
U.S. president Donald Trump abruptly halted part of his trade war on global trading partners on Wednesday, reducing duty rates on many goods for 90 days in order to give room for negotiations on lower trade barriers. This was done even though he raised new tariffs to 125% on Chinese goods.
This latest course reversal was part of Trump's hastily announced tariff agenda. It has caused confusion over its goals.
Here are the key details about Trump's latest action:
"RECIPROCAL" TARIFFS ARE NOW SUSPENDED
Trump's decision will have the net effect that most goods imported from other countries are subject to an import tariff of 10% for the next ninety days.
The 90-day suspension of Trump's Wednesday higher reciprocal tariffs for 57 trading partner is in effect. The European Union, Japan and South Korea are among the partners that will be reverting to 10% tariffs.
The "Baseline 10% Tariff Rates" that went into effect on April 5, for most countries, including Brazil Australia Britain and Colombia will continue to be in place for 90 days.
CHINA RAISES TARIFF TO 125%
Trump has retaliated with new tariffs after several rounds of escalating tariffs, including China's 84% tariff announced on Wednesday in Beijing. The total amount of new duties since Trump took office in January is now 125%. The new duties are on top of the tariffs that he imposed during his first term.
MEXICO, CANADA AND CANADA WILL NOT CHANGE
Trump's announcement of tariffs last week spared Canada, Mexico and the United States. However, their goods will still be subject to 25% fentanyl tariffs if not in compliance with the U.S. Mexico Canada trade agreement's origin rules.
The USMCA compliant goods are exempt from these duties for now.
AUTOS, METAL TARIFFS REMANENT
Trump's pause doesn't apply to the 25% tariffs on steel and aluminium that he imposed in March, nor on autos which began on April 3. The 25% tariff on auto components will not be implemented until May 3.
SECTORAL CARVEOUTS STAY
Trump's first order exempted critical minerals, copper, lumber and semiconductors from global tariffs. These sectors will be subject to future trade investigations, which are likely to result in separate tariffs.
Separately, Trump’s order exempted energy products such as oil, gas, and other energy from tariffs. (Reporting and editing by David Lawder)
(source: Reuters)