Latest News
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UK announces $20 billion plan to reduce energy bills and heat homes
Britain announced a 20 billion pound plan on Tuesday to reduce energy bills by implementing home upgrades and other efficiency measures. Below are some details. The government has announced that solar panels will be standard in all new homes by early 2026. Solar panels, heat pumps, and batteries can be purchased with low or zero interest loans. According to the government, the move will 'triple the number of homes with solar panels on their roofs by 2030. The government will spend £5 billion to upgrade the technology of low-income homes. * Some families may receive full funding for the installation of solar 'panels' and batteries, which would cover an average cost of 9,000 and 12,000 pounds. * Financial breakdown: 2.1?billion?pounds?for consumer loans; 2.7?billion?pounds?for a boiler upgrading scheme; 1.1?billion?for heat networks. 2.7? Warm Homes Fund and 1.5?billion to other programmes and the devolved administrations
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Australia's Lynas Rare Earths reports a quarterly revenue increase on higher prices
Lynas Rare Earths, an Australian company, reported a 43% increase in revenue for the second quarter on Wednesday. Higher selling prices helped to offset a production shortfall due to power interruptions at their Western Australia processing plant. Western countries are scrambling to reduce their?dependence upon China, which has led to a rise in the price of rare earths. Australia is mulling over a new price floor, and new partnerships in order to support rare earth projects and create alternative supplies. The average price per kilogram of Lynas products was A$85.6 during the quarter. This is higher than A$49.2 a year earlier. The total output of rare earth oxides was 2,382 tons, a decrease from last year's 2,617 tonnes. Production of mixed rare-earth carbonates also decreased compared to the previous quarter due to power supply interruptions at the company's Kalgoorlie plant in Western Australia. The largest rare earths producer outside China reported a sales revenue of A$201.9 (US$135.98) million for the quarter that ended December 31, up from A$141.2 in 2012. ($1 = 1.4848 Australian dollars) (Reporting by Rajasik Mukherjee and Jasmeen Ara Shaikh in Bengaluru; Editing by Sahal Muhammed)
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Rio Tinto's fourth quarter iron ore shipment rises 7%
Rio Tinto announced a 7% increase in its fourth-quarter iron-ore shipments, Wednesday. This was aided by a record quarterly production from the?Pilbara operation and strong rail and ports outload performances. Iron ore prices rose in the third quarter, boosted by a resilient demand from China, its top consumer, where strong steel exports helped to sustain buyer interest. Iron ore was shipped by the world's biggest producer of steel-making material, the Pilbara operation of Rio Tinto, in the three months ending December 31, up from 85.7 Mt last year. This exceeded the?Visible Alpha estimate of 88.2Mt. Rio shipped 326.3 metric tons of iron ore in 2025 from its Pilbara operations, which is at the lower end its forecast range of 323-338 metric tons. Rio Tinto is negotiating a takeover with Glencore and has reported that its mined copper production grew by 5% in the first quarter. This was higher than Visible Alpha's consensus estimate of 214,400 tons. The potential partnership with Glencore would accelerate Rio's expansion of copper, as the demand for the metal is increasing due to artificial intelligence and the energy transition.
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Venezuelan oil revenues have brought in $300 million, the acting president of Venezuela says
Delcy Rodriguez, Venezuela's interim President, said that Caracas had received $300 million in 'oil sales', the first proceeds of Donald Trump's announced 50-million barrel oil supply agreement with Caracas. This follows the capture earlier this month of President Nicolas Maduro. Trump announced separately on Tuesday that his country has taken 50 million barrels of oil out of Venezuela and is selling some of it to the open market. However, shipping records show the volume hasn't yet been exported. Last week, it was reported that the Venezuelan government had notified four banks that $300 million in oil revenue would be deposited into an account in Qatar. This would allow them to sell dollars in order to Venezuelan firms that needed foreign currency to pay for material. Rodriguez told an audience in Caracas that the funds were derived from oil sales. "We have received $300 million of $500 million." These first funds will be used by the national banks, the central bank and the exchange market to consolidate the market, protect incomes and purchasing powers of our workers, and stabilize it. On Tuesday, Rodriguez's sister, Jorge Rodriguez, a lawmaker, stated that a reform to the main oil law of the country, which is expected to be debated this week for the first-time, will be based upon a partnership structure first introduced under President Nicolas Maduro, but he did not provide any details. Interim President Rodriguez told legislators?last week? that the government was in favor of changes to the 'hydrocarbons laws to encourage foreign investment. The law uses a model for joint ventures that is controlled by the state company PDVSA. However, in recent years, the country has introduced so-called "productive participation contracts" to create new partnerships. Jorge Rodriguez, a journalist, told journalists that these contracts were "a fundamental component to be expressed in the reform of the law". Reporting by
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Urals oilfield production could be stopped for 7-10 more days.
The differentials between Urals crude and CPC Blend remained unchanged on Tuesday. CPC Blend exports from the marine terminal at Yuzhnaya Ozereyevka, near Novorossiisk, are expected to drop in January and February due to power supply issues at the Tengiz & Korolevskoye oil fields. After shutting down on Sunday, oil production in Kazakhstan's Tengiz, the largest oilfield in the world, could be stopped for 7-10 days. Sources claim that Tengizchevroil has already cancelled five export cargoes of CPC Blend crude totaling 600,000-700,000 metric tonnes, which were scheduled to be shipped out from CPC's black sea terminal in January and February. The temporary suspension of oil production at Kazakhstan's fields and the expectation of a stronger global economic growth could be driving fuel demand. PLATTS WINDOW The traders reported that no bids or offers for Azeri BTC, CPC Blend and?Urals were made on Tuesday. Interfax, the Russian news agency, reported on Tuesday that Kazakhstan will export?80 millions metric tons (millions of gallons) of oil by 2025. Sergei Lavrov, the Russian Foreign Minister, said that Moscow expected the United States to release the crew of a Venezuelan-linked oil tanker Washington seized in the Atlantic this month. (Reporting and Editing by Nia William)
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Silver reaches all-time high, gold records record at $4,700/oz
On 'Tuesday', gold reached a new record high, reaching $4,700 per ounce, as rising geopolitical tensions increased demand for safe havens. Silver also broke through $95 an ounce for the first. By 01:52 pm, spot gold had gained about 2% and was at $4,757.33 an ounce. ET (18:52 GMT), the price of gold reached a record-high $4,765.93 in the morning. U.S. Gold Futures for February Delivery settled 3.7% higher at $4,765.80/oz. Fawad Rasaqzada is a market analyst for FOREX.com and City Index. He said that gold has surged?deeper in uncharted waters as investors hedged against rising political risks. A softer dollar provides an additional tailwind to precious metals. This is a good thing for gold, as it reinforces its?rally' at a moment when the confidence in US assets seems to be waning. Wall Street's major indexes fell to a low of a few days ago, as investors were scared by President Donald Trump's renewed threats against Europe for?control over Greenland. The comments have increased tensions before Trump's meeting with business leaders from around the world in Davos on Wednesday. Gold priced in greenbacks is now more affordable to overseas buyers. Gold, which is seen as a safe haven of value in times of economic and political uncertainty, has risen by 64% since 2025, and another 10% was added to the price of gold at the beginning of this year. Gold's rise has been boosted by the expectation of a U.S. rate cut, which will reduce the opportunity costs associated with holding non-yielding metals. Markets have priced in two 25-basis point rate cuts from mid-2026. The focus has intensified since U.S. Treasury Sec. Scott Bessent stated that Trump could 'name a new Federal Reserve Chair as soon as next week. "$4,800 and $4,900 are next obvious reference points for gold. The key $5,000 handle stands out as the longer term psychological?target," Razaqzada said. Silver spot fell 0.3%, to $94.38/oz after reaching a record high of $95.87. The white metal gained about 147% between 2025 and 2026. Palladium rose 1.1% to $1,861.61 while spot platinum gained 2.3%.
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Silver reaches all-time high, gold records record at $4,700/oz
As escalating tensions in the world? boosted demand for'safe havens,' gold reached another record-high on Tuesday. Silver also broke through $95 per ounce for the first. By 01:02 pm, spot gold had gained 2% and was at $4,761.58 an ounce. After reaching a record-high of $4,763.07 in the morning, ET (18:02 GMT) saw gold prices rise to $4.761.58 per ounce. U.S. Gold Futures for February Delivery climbed 3.7%, to $4.766.80/oz. Fawad Razaqzada is a market analyst with FOREX.com and City Index. He said that gold has risen to uncharted heights as investors hedged against the rising political risks. Gold's rally is boosted by a softer dollar, which provides an additional tailwind at a time when the confidence in US assets seems to be waning. Wall Street's major indexes fell to a?low of nearly three weeks on Tuesday as investors were scared by President Donald Trump's renewed tariff threats against Europe for control over?Greenland. The comments have increased tensions before Trump's meeting with business leaders from around the world in Davos on Wednesday. Gold priced in greenbacks is now more affordable to overseas buyers. Gold, which is seen as a safe haven of value in times of economic and political uncertainty, has risen by?64% since 2025, and another 10% added since the beginning of the year. Gold's rise has been boosted by the expectation of a U.S. rate cut, which will reduce the opportunity costs associated with holding non-yielding metal. The markets are pricing in two 25-basis point rate cuts from mid-2026. This focus has intensified since U.S. Treasury Sec. Scott Bessent stated that Trump could 'name a new Federal Reserve Chair as soon as next week. "$4,800 and $4,900 are next obvious reference points for gold. The key $5,000 handle stands out as a longer-term psychological goal," added?Razaqzada. Silver spot fell 0.1%, to $94.60/oz after reaching a record high of $95.87. The white metal gained about 147% between 2025 and 2026. Palladium rose 1.7% to $1,873.55 while spot platinum gained 2.5% at $2,433.12/oz.
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UN report warns that looming water 'bankruptcy’ puts billions of dollars at risk
U.N. researchers said on Tuesday that the world faces irreversible "water bankruptcy", with billions struggling to cope with consequences of decades of overuse, as well as shrinking supply from lakes, rivers and wetlands. Researchers said Tuesday. Researchers said on Tuesday. Kaveh Madani is the director and lead author of?the Institute. He said that many regions were living beyond their means and that critical water systems had already gone bankrupt. He said: "By recognizing the reality of the water crisis, we can make the difficult choices that will protect people and economies, as well as ecosystems." According to the report, water supplies have "already reached a state of failure after a crisis"? after decades of unsustainable extraction that has drained "savings"??found in aquifers and glaciers?, soils?, wetlands?and river ecologies?, as well as being degraded by pollutants. The report stated that more than 170 millions hectares (an area bigger than Iran) of irrigated crops are experiencing "high" or very high water stress. Economic damage caused by land degradation, groundwater depletion, and climate change is estimated to be $300 billion per year. It said that more than 100 millions hectares have been degraded by salinisation, which has affected more than three billion people. Researchers wrote that current approaches to solving water issues were no longer effective and the priority was not to "return to normal", but to create a "global agenda" to minimize damage. Jonathan Paul, a geoscience professor from Royal Holloway University of London said that the report failed to address a major factor in the crisis. He said, "The elephant in room is that massive and uneven growth of population is driving many manifestations of water bankruptcies." (Reporting and editing by David Stanway)
Energy Fuels will buy Australian Strategic Materials for $300 million
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 also in South Korea, Australia, and the United States.
Rare earth elements play a vital role in wind turbines. They are also used for smartphones, missiles, and electric vehicles.
Western countries are scrambling to reduce their dependence on China, which has led to an increase in the price of rare 'earths. Australia is considering a 'price floor' and new international partnerships in order to build alternative supplies, support rare earth projects, and reduce dependence on China.
Lynas Rare Earths, based in Australia, is currently the world's leading rare earths manufacturer outside of China. Reporting by Himanshi Ahand in Bengaluru. Melanie Burton contributed additional reporting from Melbourne. Alan Barona, Chris Reese and Chris Reese edited the story.
(source: Reuters)