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Shares of USA Rare Earths surge after Trump Administration investment report
USA Rare Earth shares jumped up to 62% on Monday in premarket trading after reports that the Trump administration would take a 10% stake as part of a $1.6billion debt-and equity investment package. Sources who were briefed about the plans over the weekend said that the deal and a separate $1 billion private investment would be announced on Monday. The company will also host a conference call in the morning with investors to discuss terms. According to LSEG data, a 10% stake would?make administration the largest shareholder in the company. USA Rare Earth is developing a mine with Texas Mineral Resources in Sierra Blanca (Texas) that will open by 2028. The company has a magnet production facility in Stillwater Oklahoma that is slated to open later this year. The Trump?administration has been working to increase its presence in critical minerals, and this deal is the latest step in that effort. Last year, it acquired equity stakes in MP Materials Lithium Americas, and Trilogy Metals. Last month, a senior Trump official stated that the administration is planning to make more "historic deals" in the U.S. Mining sector. Rare earths are a grouping of 17 'elements'. They are also used to make magnets that are found in many products, including iPhones, washing machines, F-35 fighter jets, electric vehicles, medical devices, and military systems. The shares of rare earths miners soared in 2025 due to tight global supplies, and the race to secure domestic critical minerals to reduce reliance on China. Trump's recent gambit to buy resources-rich Greenland fueled gains in this year. Shares of USA Rare Earth rose 38.5% last before the bell to position the stock for a further increase in its rise of more than 100% so far this January. Shares of Trilogy Metals (U.S. listed), Lithium Americas (U.S. listed) and MP Materials (U.S. listed) also increased between 5% to 12.4%. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Shilpi Majumdar)
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Gold miners' shares soar as bullion price reaches record high of $5,100/oz
Gold miners' shares jumped on Monday in premarket trade as bullion prices surged to record highs of $5,100 per ounce. This extended a historic rally driven by safe-haven demand amid market volatility and geopolitical uncertainty. Gold's annual rise of 64% is the highest since 1979. This was a result of U.S. monetary policy ease, central?bank purchases and investors flowing into ETFs to hedge against macro-uncertainty and global policy risks. Gold is a non-yielding asset that benefits from a low interest rate and an uncertain economic environment. Bullion prices have risen by more than 18% in the past year. Gold prices are typically higher, which boosts revenues, margins and cash flow. It also strengthens balance sheets and cash flows, giving companies more money to fund dividends, expansion or debt reduction. Newmont, the top miner, rose by 4.4%. Shares of Barrick Mining listed in the U.S. climbed by 3.8%. U.S. listed shares of South African miner?Gold Fields, AngloGold Ashanti Harmony Gold, and Sibanye Stillwater rose between?nearly 2 and 4.3%. Gold prices have been on the rise due to expectations that the U.S. could cut interest rates in 2026. The U.S. listed shares of Canadian mining companies Agnico Eagle and Kinross Gold each rose 4%. (Reporting and editing by Maju Samuel in Bengaluru, with Pooja menon from Bengaluru)
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UN report: Islamic State-linked militants killed 22 in eastern Congo
According to a U.N. internal report and civil society leaders in the area, Islamic State-linked militants have killed at least 22 civilians in a village located in eastern Congo’s Ituri province early on Sunday. This is the latest of a series deadly attacks in this region. According to the U.N. report, assailants attacked Apakolu in Ituri Province's Irumu Territory, around 25 km (15miles) northwest of Eringeti, on Sunday at 0400 GMT, and abducted unknown numbers of people. Christophe Munyanderu is the head of a local 'rights group' known as CRDH in French, based at Irumu. He said that 25 civilians were killed. The attackers have been identified as'members of Allied Democratic Forces (ADF), a Ugandan armed force active in eastern -Congo, which is recognized by 'Islamic State. According to the U.N. report, the attack on Sunday in Apakolu occurred two days after ADF-fighters attacked the village of Kazaraho where they clashed against the army and local militias. Islamic State claimed responsibility and abducted and murdered three Christians in Kazaraho. TWO SOLDIERS KILLED BY AN ATTACK Local officials reported that in a separate incident on Saturday night ADF fighters burned houses, shops, and a Catholic Church, in the village of Musengo, Lubero Territory, North Kivu Province. Colonel Alain Kiwewa of the?Lubero Territory, said that two Congolese troops were killed in the response by the army. He stated that 14 houses, the local health center and part of a church were all destroyed. The ADF's attacks continue despite the efforts of the Congolese army and Ugandan forces. According to a U.N. report published last week, the ADF was responsible for 138 deaths in eastern Congo during November. This makes them one of the most deadly armed groups in the region. Reporting by Ange Aidhe Kasongo, Congo Newsroom and Clement Bonnerot. Editing by Robbie Corey Boulet and Ros Russell.
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ArcelorMittal closes Ukraine unit amid Russian and green laws
ArcelorMittal Kryvyi Rih is Ukraine's biggest steelmaker. It announced on Monday that it will close one production unit?in the 2nd quarter. The company cited EU environmental policies and high local power prices due to Russian attacks on energy infrastructure. The plant in Ukraine's south-east, approximately 70 km from the frontline, will close its blooming mill. This mill produces?billets to be used by the small-gauge mills and wire mills of the enterprise. The company stated that the introduction of the Carbon Border adjustment Mechanism by the European Union on?January 1, effectively closed the market for a significant part of Ukrainian metallurgical goods. CBAM is the EU's tool for putting a "fair price" on carbon emissions during the production and importation of goods that are high in carbon. ArcelorMittal Kryvyi Rih stated that the high cost of energy in Ukraine is a significant factor which has impacted the economic viability of the?unit. Russia has intensified and expanded its attacks against Ukraine's energy sector, causing widespread blackouts and constant restrictions to?electricity supply for industry. The government encouraged companies to import electricity that is more expensive from the EU, which increased production costs and made exports less competitive. Ferrexpo, an important European supplier of iron ore pellets for steel production said earlier this month that it had stopped mining operations in Ukraine, and also furloughed a part of its staff, all because of electricity supply disruptions.
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China opens up its commodity futures market to foreigners
China's securities regulator announced that foreign investors can now trade an additional 14 options and futures products, giving them access to two major Chinese commodity exchanges. The Shanghai Futures Exchange opened its doors to foreign investors. Prior to this, both exchanges were closed to foreign investors. The regulator announced in a statement on Friday that other contracts included petrochemicals listed on the Zhengzhou Commodity Exchange?and three energy options and metals listed on the Shanghai international Energy Exchange?. China is the largest consumer of commodities in the world. It has been eager to use the yuan more and increase the financial power of its country. Many of the world's largest exchanges, however, are located overseas where benchmark prices are set. Shanghai Futures Exchange, in particular, has been wanting to offer more international contracts to boost their global presence and to?challenge foreign benchmarks' dominance. Sources also claim that China will offer yuan denominated LNG futures contracts on its domestically listed exchanges as early as next month. John Browning of the Hong -Kong based broker BANDS Financial wrote in a client note that "metals traders can rest assured" that further RMB internationalisation will lead to a greater opening. Browning predicted a gradual opening of access to copper, aluminium?zinc, tin and lead contracts on the Shanghai Futures Exchange. (Reporting from Lewis Jackson and Dylan Duan, in Shanghai; Additional reporting from Shi Bu, Ethan Wang, and Ryan Woo in Beijing. Editing by Edwinn Gibbs).
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Four people killed and one missing in fire at Greek biscuit factory
Fire brigade reported that a fire broke out following an explosion at a biscuit plant near Trikala, a city in central Greece. Four people were killed and one was missing. The blaze that consumed factory facilities was tackled by 53 firefighters, 16 trucks and ten more vehicles. According to a statement by the Athens News Agency, Violanta S.A. said that the cause of the accident was not clear. Fire officials reported that eight of the thirteen?people in the factory managed to escape. The fire brigade reported that four bodies had been recovered. They also said that disaster response units and investigators were on the scene. The largest Greek labour union GSEE stated that the 'four victims' were women, and demanded a thorough investigation into the incident. Initial evidence collected by experts suggests that the strong blast heard in the early hours of the morning was probably caused by a gas leak. The investigation, which is being overseen by a prosecutor and will be concluded in the 'coming days,' is expected. Adonis Georgidis, Health Minister, told ERTnews Radio earlier that six people, including a firefighter, were treated in a local hospital for respiratory issues. However, their lives were not in danger. "We are deeply saddened and shocked by the tragic incident that took place at our factory in Trikala. Violanta stated in a second press release cited by Athens News Agency that their only concern was to show respect and support to the families of those we lost. (Reporting and writing by Angeliki Koutantou, Renee Maltezou and Yannis Souliotis. Additional reporting and writing by Antonis Pothitos. Editing and editing by Alexandra Hudson and Andrew Cawthorne.
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Iron ore prices fall amid volatile geopolitical environment
Iron ore futures fell on Monday, as traders were cautious in the face of a tepid global geopolitical environment. However, rising inventories and recovering hot metal production suggest that prices have more room to rise. The 'May' iron ore contract most traded on China’s Dalian Commodity Exchange was 0.95% lower, at 784.5 Yuan ($112.77) per metric ton. As of 0708 GMT, the benchmark February iron ore traded on Singapore Exchange was $103.35 per ton lower. A trader with knowledge of the situation said that traders are generally cautious in a geopolitical environment where prices for Singapore iron ore remain?below $100 per ton. A report by Mysteel, released on January 26, said that prices would'remain tepid due to recovering hot metal production and Chinese Lunar New Year stocking. The report stated that iron ore inventories at steel mills were?still lower? than in the same period of previous years. It is expected that the current rate for inventory growth will continue. BHP Group, world's No. BHP Group, the world's No. Two traders reported that the stocks of BHP's Jimblebar Fines in major Chinese ports had risen 360% since late September, to 8.1 millions tons on January 13. Sources claim that Chinese steelmakers cannot take delivery of JMBF cargoes at ports. Steelhome's data from January 23 shows that iron ore inventories at major Chinese ports increased by 1.2% in a week. Coking coal and coke both increased by 1.35% and 0.444% respectively. The Shanghai Futures Exchange steel benchmarks mainly firmed. Rebar gained 0.29%; hot-rolled coils gained 0.12%; and wire rod hardened by 0.81%. While stainless steel fell 0.14%.
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Gold reaches record-high of $5,100 on the safe-haven rush
On Monday, gold surged above $5,100 per ounce, continuing a historic rally, as investors piled in to the safe-haven investment amid 'rising geopolitical uncertainty. Gold spot was up 2.2% to $5,089.78 an ounce at 0656 GMT after having earlier reached a record high of $5110.50. U.S. Gold Futures for February Delivery also gained the same amount, to $5.086.30 an ounce. The metal's price soared by 64% between 2025 and 2026, the biggest gain in a single year since 1979. This was due to safe-haven demands, a loosening of U.S. monetary policies, central bank purchases, including China's 14th consecutive month of purchasing in December, as well as record inflows in exchange-traded fund. The prices have risen by a record 18% in the last year. According to Kyle Rodda of Capital.com, the latest catalyst is "effectively this crisis of trust in the U.S. government and U.S. asset, which was set off by some of the erratic decisions made last week by the Trump administration". On Wednesday, U.S. president Donald Trump abruptly backtracked from his threats to impose tariffs against European allies to gain leverage over Greenland. He said over the weekend that he would impose 100% tariffs on Canada if they followed through with a trade agreement with China. He also threatens to impose a 200% tax on French champagne and wines in an apparent effort to get French President Emmanuel Macron to join his Board of Peace initiative. Observers fear that the Board of Peace could undermine the United Nations as the primary global platform for conflict settlement, even though Trump says it will work alongside the U.N. Rodda continued, "This Trump administration is causing a permanent rupture to the way that things are done. So now everyone is running towards gold as their only alternative." A rising yen has dragged down the dollar on Monday. Markets are on high alert for a possible intervention by the Federal Reserve and investors have been reducing their dollar positions in anticipation of the meeting this week. Gold priced in greenbacks is more affordable to holders of other currencies. Analysts predict that gold prices will continue to rise this year, reaching $6,000 on the back of rising global tensions and strong demand from central banks and retailers. "We expect more upside (for gold)." "Our current forecast indicates that prices will peak around $5,500 by the end of this year," stated Philip Newman at Metals Focus. Newman said that periodic pullbacks will occur as investors take their profits. However, we expect these corrections to be short-lived with a strong buying interest. Spot silver rose 4.8% to $107.903, having hit a record high of $109.44. Spot platinum rose 3.4% to $2.861.91 an ounce after reaching a session high of $2.891.6. Meanwhile, spot palladium climbed 2.5% at $2.060.70. Silver broke through the $100 barrier for the first-time on Friday. This follows a 147% increase in the previous year, as retail investor flows and momentum-driven purchases compounded an extended period of tightness on the physical metal markets.
Data shows that India's imports of Russian oil increased slightly between January and June.
Sources say that India's oil purchases from Russia increased marginally during the first half this year. Private refiners Reliance Industries Ltd. and Nayara Energy accounted for almost half the total.
The data shows that India, which is the third largest oil consumer and importer in the world, received approximately 1.75 million barrels of Russian oil per day from January to June this year. This represents a 1% increase over the previous year.
State companies buy Russian oil from spot markets, but the two private refiners are bound by term contracts.
India's purchases at discounted prices of Russian oil increased after the West imposed sanctions on Russia and stopped purchasing oil from it due to its invasion of Ukraine 2022.
This week, U.S. president Donald Trump threatened to impose sanctions on Russian export buyers unless Moscow agreed to a peace agreement within 50 days.
Indian refiners believe that any action by Trump will not disrupt oil supply, but it could reduce the discount on Russian crude as both traditional and new suppliers increase production, according to refinery officials.
In January-June of this year, Russia was the largest supplier to India. It accounted for 35% or India's total supplies. Iraq, Saudi Arabia and United Arab Emirates were also major suppliers.
Data showed that the United States ranked fifth in terms of oil supply to India. It was up from sixth a year ago.
India is planning to increase energy imports to the U.S. in preparation for a deal with Washington, to avoid high import tariffs.
The data revealed that India's total oil imports from January to June increased by 4.3%, or about 5.2 millions bpd.
India's Russian crude oil imports in June increased 17.4%, to 2 million bpd, from the previous months, and slowed the Middle Eastern producers as well as the Organization of the Petroleum Exporting Countries.
(source: Reuters)