Latest News
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Aldebaran, a Canadian company, plans to invest $1.5 billion in Argentina's copper project
Javier Robeto, the country manager of Aldebaran Resources Canada, said that at least $1.5 billion will be needed to develop the Altar copper project located in northern Argentina. Robeto stated that the company will include this figure in its preliminary assessment of September. This will show Altar has about 32 billion pounds copper resources and approximately 6.7 million ounces gold resources. Aldebaran does not know if it will be able to spend the money in time to qualify under RIGI (the government's incentive program), which provides long-term tax breaks as well as access to international dispute tribunals for investments above $200 million. The scheme will continue to accept applications until July 2026. There is a possibility of an additional year. It's not sure we'll make the cut. What happens if RIGI is stopped? Robeto explained that the tax burden would automatically return to 54%. RIGI has approved only two lithium mining projects so far, both of which were implemented in October by President Javier Milei. Glencore and McEwen Mining, among others who are working on copper projects, have also applied for the program. Robeto has not provided a timeline for the construction and production of Altar. The estimated lifespan is 20-25 years. The economic assessment includes two scenarios of copper production in either cathode or concentrate form. Robeto explained that the idea was to do a trade-off, examining both pros and cons. (Reporting and Writing by Lucila SIGAL, Editing by Jan Harvey).
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Rainforest to retail - Indonesian women protecting nature through work
Women use flowers and plants for ecoprinting Sustainable livelihoods protect at-risk rainforest Families can get help with food and school fees by receiving income By Leo Galuh A group of women who work in a conservation park located in Citalahab Sentral - a small village inside Gunung Halimun-Salak National Park - aims to show that nature protection and earning a living can be compatible. Ambu Halimun (which means "Mothers Of Halimun" is Sundanese) gathers foliage rich in natural colours and tannins. Ecoprinting is a technique that uses the flowers and leaves to transfer pigments onto the fabric. Ambu Halimun sells the skirts, scarves, and tote bag made from the intricately-printed fabric in international markets. The women have carved out a livelihood that is sustainable from the rainforest, without having to cut down trees or hunt wildlife. The group is still a small force, but it is growing. It is aiming to become a powerful enough force to make a difference in protecting Indonesia's natural environment. According to United Nations statistics, Indonesia is a biodiversity hotspot. It has a large share of the global flora, fauna and flowering plants, including 17% of bird species. Orangutans and Javan gibbons, Sumatran Tigers and Sumatran tigers are just a few of the critically endangered species that live in its rainforests. Deforestation caused by mining, agriculture and infrastructure is a serious threat to biodiversity. Global Forest Watch reports that between 2002 and 2024 the country lost 10.7 millions hectares (26,4 million acres) in humid primary forest. The human population is growing but the land is limited. They will now be the ones to lead the conservation effort because they have the knowledge and skills to do so," says Rahayu Oktaviani. She is the co-founder of the Javan Gibbon Conservation group, Konservasi Ekosistem Alam Nusantara. JAVAN GIBBONS Citalahab Sentral, with fewer than 300 inhabitants, relies on small-scale farming and tea farming. Tourism through homestays, forest treks, and other activities is also available but it provides inconsistent income. The KIARA group started offering training to residents in ecoprinting and sewing, natural fertilizer production, English, and public speaking after the pandemic devastated local tourism. Tourism earnings are still far below the pre-pandemic level, despite a slow return of guests since 2022. Yuliana is a mother of 4 and a member of Ambu. She said that the income she received from her husband's homestay was not enough to cover daily expenses. She now prints fabrics with motifs of the flora. Yuliana (who goes by one name) said, "I had no idea that leaves would produce natural colors to make ecoprint." KIARA, together with the women, has identified at least 24 rainforest plants species that contain tannins - natural compounds which bind colors to fabrics and prolong their life. Members of Ambu Halimun sell their products through social media, as well as to tourists. They accept orders via Instagram, and prices range from 250,000 Rupiah ($15) up to 700,000. The group's ecoprint signature is a Javan Gibbon motif. Sharing stories about the gibbon habitat and the threats that it faces due to deforestation, hunting and other factors helps raise awareness of conservation in the local community. The gibbon, a small ape that has silver-grey hair and a black facial pattern, is in danger. According to the International Union for Conservation of Nature (IUCN), there are only 4,000-4500 gibbons left in Indonesia. FOOD AND SCHOOL FEE Ambu Halimun's Wulan says her ecoprint earnings have made a real difference. She said that the majority of her family's expenditure is on food and school fees for her children. If he works for 20 days, her husband, who is a tea picker earns between 800,000.00 ($49) to 1,140.000 ($70). Many families borrow money in order to survive, and end up in debt. Ecoprint pays me 2 million Rupiah (122 dollars) every quarter. "It's enabled me to save," Wulan said as she removed the boiled marigold flower from the fabric. KIARA plans to expand its ecoprinting efforts, but its artisanal character means that its size will be restricted. Harumi Supit is vice president of Amartha Financial's public relations department. Amartha Financial provides services to more than 3.3 million women owned businesses in rural Indonesia. She said that to reach and sell in bigger markets, they require resources, transport and channels of distribution as well as careful planing. She said that maintaining quality standards is a challenge when you want to reach a wider audience. Ambu Halimun sold 41 pieces in 2020, and 237 the previous year. By mid-2025 it had reached 130 sales. Oktaviani said that KIARA’s role is to expand the group, encourage residents – especially women – to adapt to the post-pandemic changes in the economy and to find solutions within the environment. She said that they have an in-depth knowledge of the native plants. She said that the leaves used in ecoprint were often the same ones used traditionally for herbal remedies or as raw food. It's rooted into traditional knowledge which is slowly disappearing. She said that the project is not only helping to keep the forest intact but also empowers women, who "used to be tucked in the kitchen."
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Stocks on hold as traders wait for Powell's speech
The stock market was largely flat on Friday, as traders awaited the key speech by Federal Reserve Chairman Jerome Powell this weekend at the annual Jackson Hole Symposium that could shed some light on future monetary policy. Powell's previous speeches at this event have often moved the markets. This year's remarks will be closely scrutinized as his position is under heavy scrutiny from U.S. president Donald Trump. There are concerns that the Fed's autonomy could be threatened. Investors have reduced their bets that the Fed will cut rates at its September meeting due to a surge in U.S. Producer prices. This is down from 85% a week earlier. The Jackson Hole event also featured other Fed speakers who were lukewarm about the idea of a cut in September, despite recent signs that the U.S. labor market is weakening. Nabil Milali said that a cautious tone from Powell regarding the prospects of a September rate cut, deferring to future jobs and inflation data, could be enough to reduce market pricing down to a 50/50 call. Milali said that Powell could also decide to defend the Fed’s independence. He said that he believed the unofficial topic of this meeting was central banks' autonomy. MSCI's broadest global stock index was essentially flat for the day after European stocks rose in the morning before the speech. Wall Street futures are up between 0.1-0.2%. China's CSI 300 Index rose 2.1% after DeepSeek upgraded its flagship V3 AI Model and reported that Nvidia asked Foxconn suspend work on the H20 AI Chip, lending support for Chinese rivals. The dollar index (which measures the greenback versus six peers) edged up 0.1%, while the euro fell 0.1% to $1.15985, after an official revision showed that Germany's second-quarter economy contracted by 0.3%. Data from Japan showed that core consumer prices fell for the second consecutive month in July, but they remained above the central banks' 2% target. This has kept alive expectations of a rate increase in the near future. This did not help the yen much, as it was on track for a 1% drop for the week. BOJ Governor Kazuo Ueda is also scheduled to speak in Jackson Hole, Wyoming this weekend. Brent crude oil prices fell, Brent crude trading at $67.5 a barrel last, down 0.2% from Thursday's gains as Russia and Ukraine blamed one another for the stalled peace processes. Gold spot fell 0.2% to $3,330.9 an ounce.
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Copper prices rise on strong demand in advance of Powell's speech
The copper price rose for the third time in a row as China, the world's largest metals consumer, remained strong and investors hoped that a speech from U.S. Central Bank chief John Williams would indicate interest rate reductions. The benchmark three-month copper price on the London Metal Exchange rose 0.2% to $9,745 per metric ton. This is down from a high of $10,020.50 reached on July 2. It was its highest in more than three months. The Chinese demand for the metal remains healthy, according to Nitesh Sha, a commodity strategist with WisdomTree. Last month, U.S. president Donald Trump imposed tariffs of 50% on copper products. However, he excluded ores, concentrates, and cathodes. The Yangshan Copper Premium is a premium in China Since August 11,, which represents the demand for imported copper into China, is up 13% at $51 per ton. Investors await the speech of U.S. Federal Reserve chair Jerome Powell at the annual Jackson Hole Conference in Wyoming, due to start at 1400 GMT. Shah said that if there is any indication of a dovish tilt, it could be a very positive for copper prices because that would keep demand up. The dollar index was firmer on Friday, after some Fed officials were hesitant to cut rates next month. The dollar is stronger, and therefore the prices of commodities in U.S. dollars are higher for foreign buyers. LME aluminum also increased, adding 0.15%, to $2,589 per ton. Analysts at Guosen Futures on Friday said that the anticipation of a seasonal increase in demand next month could have helped to boost aluminium prices. Other metals include LME Zinc, which rose 0.8% to $2.787.50 per ton. Lead gained 0.6% at $1.981, Tin increased 0.1% at $33,465, while Nickel fell 0.1% at $14,920. (Reporting and editing by Jan Harvey; Additional reporting in Beijing by Amy Lv; Reporting by Eric Onstad)
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Dollar firms as gold falls, but Powell's Jackson Hole remarks are in the spotlight
The dollar's strength caused gold to fall on Friday. Markets are awaiting Jerome Powell's address at the annual Jackson Hole Symposium for further insight into the Fed's monetary policies. By 0817 GMT spot gold had fallen 0.4% to $3,326.35, while U.S. Gold Futures for December Delivery were down 0.4% to $3,368.80. UBS analyst Giovanni Staunovo stated that the moderately stronger U.S. dollar was playing a significant role in the current gold pullback. Gold becomes more expensive to overseas buyers when the dollar is stronger. Investors reduced their expectations of a Fed rate reduction in September, causing the dollar index to rise to a two-week high. According to CME's FedWatch, futures markets now indicate that there is a 71% probability of a rate cut by a quarter point next month. This is down from over 90% a week ago. In a low-interest rate environment, non-yielding gold tends to perform well. Fed officials appeared to be lukewarm on the idea of a cut in rates next month, as investors prepared for Powell's Friday 1400 GMT speech. Staunovo stated that their comments indicate the next U.S. Central Bank meeting will be "intense, with some favoring large cuts while others (favor) no movement at all". Fed policymakers face a challenge because, despite signs of a weakening labour market, inflation is still above the central banks' 2% target. It could even go higher as a result of the Trump administrations aggressive tariff increases. Recent data on the US labour market showed that unemployment claims in the United States rose by nearly three months last week, and the week before they reached a four-year high. Silver spot was down 0.4% to $38.03 an ounce. Platinum fell 0.6% to 1,343.80 and palladium increased 0.2% to 1,112.85. (Reporting Ishaan Arora in Bengaluru; Editing by Jan Harvey)
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China tightens its grip on rare earth supply quotas
China, which is the dominant supplier of rare earths in the world, announced on Friday new measures to regulate mining, smelting, and separation of these critical minerals that are key to the energy transition. This will further tighten its grip on supply. Beijing regulates, manages and controls rare earth mining and smelting via a quota-based system. In a recent statement, the Ministry of Industry and Information Technology announced that these new rules would include imported raw materials within that system. The process of public consultation began in February. Analysts said that the inclusion of imported iron ore indicates a tightening in supply. Companies were concerned that they might lose their access to feedstock. Rare earths is a grouping of 17 elements that are used in products ranging from magnets in wind turbines, electric vehicles and consumer electronics to lasers in military equipment. In April, in response to the U.S. tariff increases, China added several rare earth products and magnets on its export restriction list. The first 2025 mining and smelting license was quietly released Quotes Without making its usual public statements, reported last year, citing sources. Reporting by Beijing Newsroom and Lewis Jackson, Editing by Muralikumar Aantharaman and Kate Mayberry
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India improves weather forecasting as part of its renewable energy push
A senior government official stated on Friday that India is improving its weather forecasting system to meet the increasing demands of the renewable energy sector. The country has found that traditional forecasts, such as those for the state or region, are no longer adequate. At a BloombergNEF Summit, Ghanshyam Prasad, Chair of the Central Electricity Authority, said that "you need a very, granular forecast". He added that it was critical to be able to track cloud movement at specific locations. He said that India's current forecast resolution, which is the precision of weather prediction over small time intervals, or areas, does not match the 15-minute cycles of the grid where weather conditions can change rapidly. He said the goal was to reduce the distance between resolutions to as little as possible. The government is working on long-term tools to help planners project weather trends for multi-year time frames. Prasad stated that "nobody in the world has such a high level of visibility for forecasting weather on that kind horizon." We are working on a long-range prediction tool that can provide us with at least some forecasts. The power sector in India is expected to be more stable as it increases its reliance on solar and wind energy. Prasad stated that "until we can do this, we probably won't be able sustain the sector as a whole." The Ministry of New and Renewable Energy told the media earlier this week that New Delhi had curtailed its solar and coal output during low demand periods to maintain its power grid and reduce congestion on power lines, as green energy supply increases. India has added a record of 22 GW in solar and wind power capacity during the first half 2025. It plans to increase its non-fossil energy capacity to 500 GW before 2030. In addition to its reforms the CEA has also shifted from a 5-year cycle of energy planning to an annual model. The official stated, "That is a challenge we have taken. If I do it each year, I will be better able to forecast the weather."
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India's top Court revises its stray dog policies after public outcry
After a flurry of protests by animal lovers, the Indian Supreme Court changed its order regarding stray dogs. It now directs that they be released from the streets around Delhi after being sterilised and immunised. This was a little earlier The court ordered that all stray animals in Delhi and its surrounding suburbs should be relocated to shelters due to an increase in cases of dog bites and rabies. The ruling was criticized by critics who said that it couldn't be implemented due to the lack of shelters. Animal lovers protested against the court order. Animal rights activists petitioned the court online to reverse its decision. Politicians and celebrities also criticised the court's ruling. India's opposition Rahul Gandhi said it was a "step away from decades of science-based, humane policy". The court ruled on Friday that all dogs seized in Delhi and its surrounding suburbs in the last few weeks would be sterilised and immunised, except for those exhibiting aggressive behavior or showing signs of rabies. Maneka Gandhi, a former federal minister and animal activist, told ANI that she approved of the "scientific" decision to relocate dogs back into their original area. She said that the court hasn't clarified exactly what an "aggressive dog" is, and it remains a gray area. In April, the government reported that nearly 430,000 dog bite cases were reported in January across the country, compared to 3.7 million in 2024. Mars Petcare conducted a survey on homeless pets in India and found that there are 52.5 million dogs. 8 million of these canines live in shelters. Delhi is reported to have 1 million stray animals. Could not independently verify this figure. The court ordered the establishment of designated zones to curb the feeding of dogs by the public. Three judges of the court have said that the case will be expanded to all of India, and the court will formulate a uniform policy soon for all stray animals. PETA India, an animal rights organization, said that it was grateful for the decision of the three-judge panel. It urged people to adopt dogs, and support efforts in sterilisation. (Reporting and editing by Tanvi mehta, Clarence Fernandez, Raju Gopalakrishnan and Sudiptoganguly)
Rolls-Royce wins UK small nuclear reactor deal
The UK has chosen Rolls-Royce SMR as the company to build its first small modular reactors (SMRs) in order to accelerate the decarbonisation process of the electricity network by the mid-2030s.
The government pledged on Tuesday 2.5 billion pounds ($3.4billion) over the next four-years for the SMR program, with the aim of launching one of Europe's earliest small-scale nuclear industries.
The SMRs can be as large as two football fields, and the parts are built in factories. This makes them cheaper and faster than the traditional plants that take over a decade to build and have planning delays in Britain.
The government has also said
Tuesday
It would invest 14,2 billion pounds in the construction of a large-scale nuclear plant called Sizewell C in eastern England as part "of the biggest nuclear roll-out for a century".
Rolls-Royce SMR (majority owned by FTSE 100 engineer Rolls-Royce) which manufactures the power systems for Britain’s nuclear submarines said that it would build three units.
Ed Miliband, Energy Minister at Sky News said: "Doing many of them allows you to lower the cost. That's the great prospect." It's a great opportunity for Britain, and it's a big deal for energy security.
SMRs are being considered by dozens of countries around the world including the United States and Canada. Romania, the Czech Republic and Romania will also be interested if the British project succeeds.
Tufan Erginbilgic, CEO of Rolls-Royce, said he expects Rolls-Royce to grow "materially".
Great British Energy - Nuclear (GBEN), the state-owned energy firm in Britain, will sign a contract and select a site with Rolls-Royce SMR later this year.
In mid-2030s when they are connected to grid, SMRs will be able to support about 3,000 jobs as well as power 3 million homes.
In a two-year contest for the SMR contract, Rolls-Royce SMR beat out Westinghouse and Holtec Britain as well as GE-Hitachi Nuclear Energy - a joint venture between General Electric Co. and Japan's Hitachi Ltd. $1 = 0.7396 pounds (Reporting and editing by Sachin Ravikumar, Paul Sandle).
(source: Reuters)