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Israeli strikes kill 10 in Lebanon after ceasefire
Israeli'strikes' in Lebanon have killed at least ten?people? on Saturday. This is hours after Hezbollah declared a ceasefire. Israel said it was responding to the projectiles fired from this Iran-backed group. According to the state-run NNA news agency, Israeli drones and warplanes have hit several locations in the Bekaa valley and south. Hezbollah fired over 50 projectiles overnight at Israeli forces in southern Lebanon, according to an Israeli military official. This prompted strikes against "Hezbollah targets", as the official put it. Hezbollah does not claim responsibility. Senior Hezbollah officials said that the group will not allow Israel to "freedom of move" in what they called occupied Lebanese territories, adding that resistance is still legitimate as long as Israeli forces remain in Lebanon. The violence shows the fragility of the truce that was supposed to stop months of violence escalating, as well as the?interim peace agreement between the U.S. DEADLY STRIKES A village official in Barish, in southern Israel's Tyre district, said that one of the most deadly Israeli strikes killed a father, his mother, and their two children in a three-storey building. The Lebanese Army said that an Israeli strike on the Kfarrumman - Nabatieh Road killed a soldier and accused Israel for undermining attempts to restore stability. Israel's Arabic language military spokesperson said that calm could?be achieved if Hezbollah stopped what she called hostile activity and violations. She added that Israel's presence within a security area was to remove threats, dismantle Hezbollah's infrastructure and not harm civilians. After a dramatic escalation of hostilities, a ceasefire was reached on Friday. A?U.S. A?U.S. Lebanon's Health Ministry?states that 3,912 people, including women and children, have died in Israeli attacks since 2 March. Israeli authorities claim that at least 32 soldiers, four civilians and a woman have died in the latest hostilities. The U.S. and Iran understanding announced this week calls for an end to all military operations on multiple fronts by both parties, as well as their allies, including Lebanon. Israel, who was not a part of these negotiations, has objected to provisions that it believes could limit its campaign in Lebanon. (Reporting Jana Choukeir Laila Basam and Maayan Loubell. Eman Abouhassira contributed additional reporting. William Mallard, Mark Potter and William Mallard edited the article.
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Israeli strikes continue after ceasefire, US and Iran envoys to meet
Axios reported that the personal envoy of U.S. President Donald Trump and Iran's Foreign Minister were heading to Switzerland to hold talks. However, Axios also noted that Israel's deadly strikes in Lebanon on Sunday could be a test for a new ceasefire to end the Iran War. The talks led by Steve 'Witkoff' and Abbas Araqchi are an attempt to transform a 14-point interim pact that was signed this week into a regional agreement to end the war between Israel and the United States, which began on February 28. Lebanese media reported that Israeli drones and air strikes killed at least 5 people in the southern part of the country on Saturday. This was just hours after the ceasefire between Israel and Hezbollah militants, who are backed by Iran, came into effect. The U.S. and Iran must first stop fighting in Lebanon before they can begin 60-day talks to settle disputes about Iran's nuclear programme and other difficult issues. A durable agreement is essential to reopening Strait of Hormuz, stabilising oil supplies worldwide and resolving disputes. After Vance pulls out, WITKOFF AND ARAQCHI TALKS ARE SET UP A senior U.S. government official confirmed that the ceasefire in Lebanon took place around 4 pm (1300 GMT), on Friday, after an exchange of gunfire. The ceasefire was confirmed by two Hezbollah sources and a senior Israeli official. Israeli drones and warplanes carried out a series strikes in the Nabatieh region overnight and Saturday morning. They destroyed residential buildings. Israeli artillery shelled Nabatieh, its suburbs, and their surroundings before dawn, according to NNA, Lebanon's state news agency. Israel has not yet commented on the NNA Report. Axios reported that Witkoff would be traveling to Switzerland on Saturday to join Jared Kushner (Trump's son-in law) who was already there. The White House did not answer questions regarding Witkoff’s travel. Iran hasn't confirmed Araqchi’s plans. The Vice President JDVance canceled his plans to visit the Swiss mountaintop resort of Buergenstock on Thursday, as technical discussions were well underway. This was due to rising tensions between Israel and Hezbollah. The Swiss Foreign Ministry said that Switzerland was ready to facilitate U.S. Iran talks, and preparations were ongoing. The interim agreement reached on Wednesday requires that the United States and its allies, Iran, and all other parties to the deal, declare a permanent and immediate end to all military operations, including those in Lebanon. Israel says that it was not a party to the agreement despite being excluded from the negotiations. LEBANON IS KEY TO A DURABLE U.S. IRAN PEACE DEAL In a Friday telephone conversation with his Pakistani counterpart, Araqchi said that the United States was responsible for any breach of the agreement, including the ending of the fighting in Lebanon. His ministry confirmed this. Hezbollah's attack on Israel in March prompted Israel to launch an offensive and invade Lebanon's south. State Department: Before the attacks on Saturday, U.S. Secretary Marco Rubio and Lebanese president Joseph Aoun discussed holding Israel/Lebanon talks in Washington between Tuesday and Thursday. According to the Lebanese Presidency, a comprehensive ceasefire is a key element of these discussions. At least 7,000 people have died in the Iran war, mostly in Iran or Lebanon. It has driven up energy costs, which is a major factor in global inflation. Brent crude prices fell by about 8% in the past week. Oil shipments through Strait of Hormuz increased after the interim agreement was signed. Before the war, Iran blockedade the strait and stopped it from carrying a fifth or more of crude oil and liquefied gas. Iran's body for managing the Strait of Hormuz said Friday that it would waive fees during the period of negotiations on the interim agreement. The interim agreement provides relief from economic sanctions for Iran, unfreezing assets worth tens and tens billions of dollars as well as immediate waivers by the United States for its oil exports. The bill also provides a $300 billion reconstruction fund for Iran, as well as other financial incentives. Trump defended his deal again after criticism from Washington, including Republican allies in Congress who questioned whether he had conceded too much in order to end a conflict unpopular with the majority of Americans before midterm elections this November. The War has reduced Iran! Trump posted on Facebook on Friday that "Iran was the one who met us out of desperation." They're finished! We will play out the 60-day period. "They get nothing, not even 10 cents!" Reporting by Bureaus; Writing by David Brunnstrom; Nathan Layne; and William Mallard. Editing by Alistair Bell; Clarence Fernandez.
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Morales is waiting in the wings as Bolivia crisis tests Trump's government
* Morales keeps in regular contact with protest leaders Paz negotiates with fragile union leaders * La Paz restaurateurs say 42% of venues closed, hospitals short on painkillers By Cassandra Garrison LA PAZ, 19 June - Evo Morales watches and waits in the forests of Bolivia's Chapare Region. The former president, a leftist, is still a strong force from his rural stronghold. 50 days of road blockades by indigenous and labor unions have brought the country to a standstill, killed at least 14, and pushed the center-right government led by Rodrigo Paz close to collapse. In an exclusive video-link interview, Morales said he had been in contact with protesters on a regular basis and that the growing discontent of the public has "made" him consider a return into politics, even though he claims he's not actively campaigning. Blockades on key roads have left trucks stranded, and fuel, food, and medical supplies are stifled. Unrest began in Paz after the abrupt decision to cut long-standing fuel subsides to reduce the budget in the volatile lithium-powerhouse amid a growing dollar crunch, and ongoing discussions with the International Monetary Fund about a rescue agreement. Paz changed fuel prices and reversed unpopular land reforms, but protests turned into wider discontent. The unions want wage increases, an end to fuel shortages and dollar shortages and Paz’s resignation. Paz, who assumed office in November 2025, with the backing from President Donald Trump, as part of a larger strategy to increase U.S. Influence in the hemisphere has blamed Morales, a towering leftist figure who governed for almost 14 years, for stoking unrest. Andres Arauz, from the Center for Economic & Policy Research, says that the government is trying to divert attention from the social problems on the ground by portraying Morales in the worst possible light. Paz "is trying to spin it and frame it as a political confrontation and wait it out," said he. Morales is wanted on charges of trafficking in minors, which are linked to allegations that he fathered an infant with a teenage girl while he was president. Morales calls the accusations "fabricated" and politically motivated. In an interview with he denied that he played a role in inciting dissent. He said the "indigenous rebel" was driven by the economic hardship. Morales stated that "in my experience as a past president, when there is conflict, the state is at fault if the issue is a social request." He said Paz made "unfulfilled promises." Morales' presence looms over Paz’s increasingly fragile talks to remove the blockades. Paz attempted to strike a conciliation tone when he began talks with union leaders in La Paz on Wednesday. He said that "we must build the nation but we have build it by accepting different ways of thinking," calling on both sides to end their mistrust. A CITY on the Edge La Paz is a high-altitude city where a siege mentality is in full swing. Restaurants are empty, hospitals have run out of medication and supermarkets shut off lights at meat counters that were sold out. Pamela Espada is a regional manager of a supermarket. She described how she must fly meat in from Santa Cruz, and that she wakes up at 2 am to get eggs. Since the blockades began, the price of chicken and tomatoes has increased by 70%. The ripple effect has affected the entire city's economy. Ernesto Olivares is the head of the Gastronomic Association of La Paz. He said that 42% of restaurants have had to close. He said that "the exhaustion had reached its limit." "La Paz has been taken hostage by the politics." Hospitals are also affected by the crisis. The blockades have rendered medical transfers almost impossible, leaving many patients without treatment. Cancer patients and their loved ones gathered at La Paz’s main public hospital to chant "We want life!" Erika Alvarez's brother, who is fighting cancer in Oruro (a mining area about 225 km south of La Paz), broke down into?tears. "They told me he needed chemo but there was nothing in Oruro. There were no medicines." "I cannot bring my brother to this country because of the political issues, these blockades." Rosario Calle is the president of Association of Cancer Patients and Families. She said that she has heard of patients who died because they did not receive care on time, particularly in rural areas. In the capital there is a shortage of essential painkillers such as morphine and tramadol. Calle stated, "They cry and they do not know how to soothe their pain." What we need are solutions. "Enough is enough." Morales wants Paz to step down and for new elections to take place. He said the standoff may reach a breaking point, if his party is excluded from future elections. However, he insisted that he does not support this escalation. He said, "If they do not want it through votes, then it will be with bullets."
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Brent to fall by 8% per week as Israel and Hezbollah reach ceasefire
Brent crude rose slightly on Friday but remained set for a weekly drop of about 8% after?Israel's and Hezbollah's agreement on a ceasefire, in?Lebanon and oil shipments increased through the Strait of Hormuz after this week’s U.S. - Iran peace deal. Brent crude futures rose 66 cents or 0.83% to $80.51 a barge by 13:02 ET. U.S. West Texas intermediate crude CLc1 also gained 94 cents or 1.23% at $77.54 a barrel. Due to the U.S. federal holidays, trading volumes were low. Gulf producers are preparing to increase exports despite concerns about conditions set by Tehran for the use of the vital waterway. At least four tankers carrying oil products, crude and liquefied gas entered the Strait on Friday, headed for Iraqi Gulf port, according to MarineTraffic. Price Futures Group senior analyst Phil Flynn said that although oil prices haven't reached the level they were at before the war began, "it looks like we're heading in the right direction." He added that more supply will be flowing in the coming days. Flynn said that the backlog of ships could move faster than people thought, and with cooperation between Iran and America it could move quickly. A senior U.S. Official said that Israel and Hezbollah had agreed to a ceasefire, which began at 4 pm local time (1300 GMT). Iran's Foreign Ministry announced on Friday that a planned meeting between Iranian officials and U.S. representatives in Switzerland on Saturday has been rescheduled, with plans underway for discussions in the next few days. The Ministry said that the meeting is no longer urgent as a digital memorandum on ending the conflict had been signed between the two parties. Analysts believe the deal will release 85 million barrels stranded oil in the Middle East Gulf onto global markets. The deal also includes lifting U.S. oil sanctions against Iran, which will increase supply. Around 20% of the world's oil and LNG transits?Hormuz. However, recovery in flow and production following the U.S. Iran deal could take several month. Citi's base case, 'with 60% probability', predicts a sustained normalisation of flows. Oil markets will move into surplus, and prices will trend lower in the next six to twelve months, to $60 to $65 a barrel by the first quarter of 2027. Commerzbank expects oil prices to stay above pre-war levels throughout the year. Basim Mohammed, the Oil Minister, said that Iraq's oilfields were ready to resume production. The output would gradually return to previous levels, and eventually, to pre-war levels. OPEC's 2026 World Oil Outlook states that the world demand for oil will increase to 113.3 mbpd by 2030, up from 105.1 mbpd. Reporting by Amanda Stephenson, Anushree?Mukherjee, Seher Dareen, and Ahmad Ghaddar, in London; Mohi Narayan, in New Delhi, and Helen Clark, in Perth. Editing by Jan Harvey and Kirby Donovan.
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First Quantum Copper Mine audit flags environmental liabilities
Panama's government-commissioned audit of First ?Quantum Minerals' Cobre Panama copper mine has found the ?project broadly compliant with ?its legal, environmental ?and ?operational obligations, but flagged shortfalls in reforestation commitments and identified possible future environmental liabilities, the environment ministry said on Friday. The audit revealed issues with administrative matters, biodiversity and ecological restoration, as well as the coordination of environmental monitors, despite the Cobre Panama mine's compliance rate approaching?88%. According to the statement from the Ministry, this places the Cobre Panama mine in the category "compliant", but below the threshold for "optimized". The audit covered a period from 2019 to?2023, when the mine closed following widespread protests by residents about?concerns over its environmental impact and tax contributions to Panamanian state. After the audit is completed, the government will make a decision about the future of the mine "based on facts, evidence and technical rigor",?Commerce and Industry minister Julio Molto said to journalists. First Quantum didn't immediately respond to an inquiry for comment. The audit identified potential environmental liabilities, such as?the stability and quality of surface and groundwater, acid drainage, biodiversity losses, and the effectiveness of ecological restoration. The Cobre - Panama mine is the largest open pit copper deposit in the world. After its closure, the mine accounted for 5% of Panama's GDP. It was also its second largest revenue source behind the Panama Canal. Reporting by Elida M. Moreno, Mexico City and Inigo A. Alexander. Editing by Kylie Madry.
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After US-Iran talks in Switzerland were scrapped, a ceasefire was agreed on Lebanon
Israel and Hezbollah reached a ceasefire agreement in Lebanon on Friday, after an escalation of fighting in Lebanon threatened the chance that an interim deal on ending the Iran war would become a lasting Middle East Peace Deal. U.S. and Iran talks scheduled for Friday in Switzerland were canceled as fighting flared up in Lebanon. This created new uncertainty about the timing of negotiations crucial to reopening the Strait of Hormuz to global shipping. According to a senior U.S. government official, a ceasefire will be in effect at around 4 pm Lebanon time (1300 GMT). The official added that the U.S., Qataris and Iranian negotiators worked together to reach the agreement. Two sources from the Iran-aligned Hezbollah, and a senior Israeli official have confirmed that a ceasefire has been reached. The Israeli official stated that "if Hezbollah doesn't attack us then it's not war for us." Israel will keep its forces in the southern Lebanon where they have occupied a region along Israel’s northern border. Hezbollah militants killed four Israeli soldiers and 18 people in an airstrike overnight in Lebanon. This could affect negotiations, as ending the fighting is a precondition for a broader U.S. Iran accord. TOUGH ISSUES ARE STILL UNRESOLVED In the memorandum signed by the Iranian president and the U.S. President this week, the two sides left the discussion of Iran's nucleus programme and other difficult issues to a later date. The parties have 60 days to come up with a lasting deal or extend the interim agreement. The White House spokeswoman announced on Thursday that U.S. vice president JD Vance would not be attending the technical talks in Buergenstock, a Swiss mountaintop resort. A source familiar with Tehran’s thinking said earlier on Thursday that Iran’s lead negotiator Mohammad Baqer Qalibaf was not planning to be there. The Swiss Foreign Ministry said that the talks were postponed, and that Switzerland was still ready to facilitate the talks. Preparatory work for the talks is also continuing. Hassan Fadlallah, a Hezbollah legislator, cited Iran in saying that further talks would depend on the implementation of a comprehensive ceasefire. He said Lebanon should not engage directly with Israel until Israeli attacks stop. The broad interim agreement requires that the United States and its allies, Iran, and other countries, declare an immediate and complete end to military operations, including those in Lebanon. Israel says that it was not a party to the agreement despite being excluded from the negotiations. In a Friday phone call with Pakistan's foreign minister, Abbas Araqchi said that the U.S. was responsible for any breach of the agreement, including the ending of the fighting in Lebanon. His ministry confirmed this. HEAVY AIRSTRIKES Hezbollah's attack on Israel in March drew Lebanon into the war, which led Israel to invade the southern part of the country and launch an offensive. Lebanon's Health Ministry said that heavy airstrikes had killed 18 people and injured 33 others in 11 southern cities since midnight. The death toll is expected to increase. The Israeli military said that four soldiers were killed in Lebanon in an incident, but did not provide any further details. The group said that it carried out airstrikes against what it called Hezbollah's operatives, and their infrastructure in several parts of the South. It claimed these strikes were in response for the repeated violations of ceasefire by the Iran-backed Hezbollah. Lebanese president Joseph Aoun has condemned Israeli attacks, but has said that the escalation will not hinder efforts to achieve a comprehensive ceasefire. TRUMP Defends Interim Deal At least?7,000 have been killed in the Iran war that began February 28th with U.S.-Israeli air strikes on Iran. Most of these deaths occurred in Iran and Lebanon. The war also 'pushed up energy costs, fueling inflation around the world. Since the interim agreement was signed, oil prices have dropped as tankers now pass through the Strait of Hormuz again. This was the route that carried nearly a quarter of the world's crude oil and liquefied gas before Iran blockedaded it during the war. MarineTraffic reported that at least?four oil tankers containing crude oil, petroleum products, and liquefied gas entered the Strait on Friday. They were headed for ports in the Iraqi Gulf. According to MarineTraffic, the body established by Iran to "manage" the strait announced on Friday that it would waive fees for the use of the waterway in the 60-day period during which the interim agreement is being negotiated. The memorandum, signed this week, provides relief from economic sanctions for Iran. It also unfreezes assets worth billions of dollar and immediately waives U.S. restrictions on its oil exports. Negotiators have 60 days to reach an agreement on the Iranian nuclear programme, or an extension can be agreed. They also have to create a $300 billion reconstruction fund for Iran, as well as other financial incentives. Trump defended his deal again after criticisms in Washington. This included from some of Trump's Republican allies who questioned whether he had conceded too much in order to end a conflict that was unpopular among most Americans before the midterm elections this November. "The War Has Diminished Iran!" He wrote on social media Friday: "We did not meet out of desperate desperation. Iran did." They're FINISHED!! We will play the 60-day game. "They get nothing, not even a penny!" (Reporting and writing by bureaus; editing by Philippa Fetcher and Alison Williams).
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CORRECTED: The ceasefire in Lebanon agreed upon after US-Iran talks were cancelled
Israel and Hezbollah reached a ceasefire agreement in Lebanon on Friday, after an escalation of fighting in Lebanon threatened the chance that an interim deal to end the war in Iran would become a lasting Middle East Peace Deal. U.S. - Iran talks?in Switzerland scheduled for Friday have been cancelled due to the fighting in?Lebanon. This has created new uncertainty regarding the timing of the negotiations crucial to ensure that the Strait of Hormuz is reopened to global shipping. Just before 4 pm, Lebanon time (1300 GMT), a senior U.S. government official announced that a ceasefire was to be implemented at that time. The official added that the U.S., Qataris and Iranian negotiators worked together to reach the agreement. CONDITION OF BROADER ACCORD Hezbollah, a group aligned with Iran, was said to have "implemented it" by two sources. Senior Israeli officials confirmed that their country is in a state of ceasefire. They added: "If Hezbollah doesn't attack us, it's not war for us." Officials also confirmed that Israel will keep its troops in southern Lebanon where they have occupied a?area near Israel's northern borders. Hezbollah militants killed four Israeli soldiers and 18 people in an airstrike overnight in Lebanon. This could have a negative impact on negotiations, as ending the conflict there is a precondition for the broader U.S. Iran accord. TOUGH ISSUES? STILL UNRESOLVED In the memorandum signed by the Iranian president and the U.S. President this week, the discussion on Iran's nuclear program and other difficult issues was left until later. The sides have 60 days to come to a lasting agreement or prolong the interim deal. The White House announced on Thursday that U.S. vice president JD Vance would not be attending the technical talks scheduled to begin in Buergenstock, a Swiss mountain resort. A source familiar with Tehran’s thinking said earlier on Thursday that Iran’s lead negotiator Mohammad Baqer Qalibaf was not planning to be there. The Swiss foreign ministry said that the talks were postponed, and Switzerland was still ready to facilitate them. Preparatory work for the talks is also continuing. Hassan Fadlallah, a Hezbollah legislator, cited Iran in saying that further talks would depend?on the implementation of a comprehensive ceasefire and said Lebanon should reject direct negotiations with Israel so long as Israeli attacks continued. Under the broad interim agreement, Iran, the United States and their allies must declare an end to all military operations, including those in Lebanon, immediately and permanently. Israel says that it was not a part of the deal, despite being excluded from the talks. HEAVY AIRSTRIKES Hezbollah's attack on Israel in March drew Lebanon into the war, which led Israel to invade the southern part of the country and launch an offensive. Lebanon's Health Ministry said that heavy airstrikes had killed 18 people and injured 33 others in 11 southern cities since midnight. The death toll is expected to increase. Israel's military confirmed that four soldiers were killed in Lebanon in an incident, but did not provide any further details. It claimed that it carried out strikes against what it called?Hezbollah operatives' and infrastructure in several areas of southern Lebanon, claiming these were a response to the repeated ceasefire breaches by the Iran-backed organization. Lebanese president Joseph Aoun has condemned the Israeli attacks, but said that the escalation will not hinder efforts to achieve a comprehensive ceasefire. TRUMP Defends Interim Deal At least 7,000 people have been killed in the Iran war that began February 28th with U.S. airstrikes and Israeli attacks on Iran. Most of these deaths occurred in Iran and Lebanon. The war also increased energy prices, which fueled inflation around the world. Since the interim agreement was signed, oil prices have dropped as tankers are now 'again moving through Strait of Hormuz. It was this Strait that carried a fifth of the world's crude oil and natural gas before Iran blockedaded it during the war. The Iranian body that manages the Strait of Hormuz announced on Friday that it would waive fees for the use of the waterway in the 60-day period during which the interim deal is being negotiated. The spokesman for the Iranian foreign ministry said that shipping was still taking place through the Strait and that the Iranian military had taken all necessary steps to ensure the safe passage of commercial ships. The memorandum, signed in this week, provides relief from economic sanctions for Iran. It also unfreezes assets worth billions of dollars. And the United States immediately waives its oil export restrictions. Negotiators have 60 days, unless another extension is agreed upon, to reach an agreement on Iran's nuclear program. They also have to create a $300 billion reconstruction fund and other financial incentives. Trump defended his 'deal' again after criticism from Washington, including some of the Republican members of Congress who questioned whether he had conceded too much in order to end a conflict that was unpopular among most Americans before midterm elections this November. "The War Has Diminished Iran!" He wrote on social media Friday: "We did not meet out of despair, Iran did." They're FINISHED!! We will play out the 60-day period. "They get nothing, not even a penny!" When asked on "The Axios Show", why the deal did not meet his initial demands, Trump stated that the result would be "unconditional submission" by Iran and "regime-change". Reporting by Bureaus; Writing by Timothy Heritage and Clarence Fernandez; Editing by Raju G. Gopalakrishnan and Alis Williams.
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ROI-Guinea bets bauxite dominance can reshape aluminium supply: Andy Home
Guinea, a West African nation, is now the largest producer of bauxite in the world. This raw material is ultimately transformed into aluminum. It is now trying to leverage its newfound dominance in order to exert greater control on both the price and industry structure. The three biggest resource companies are trying to reign in the mining sector, which has grown too large too quickly and is flooding global markets. Prices have also crashed. Indonesia uses mining quotas. The Congo exports quotas. And?Guinea is'minded to implement both to stop operators from exporting more than what their mining quotas permit them to produce. Conakry has the opportunity to follow Indonesia's example by shifting from bauxite to alumina refinement and capturing more value of its resources. The commitment of Chinese state-owned aluminium producer Chalco to build a $1 billion refinery is proof that the strategy is working. BAUXITE BOOM Bauxite, the third-most abundant element on Earth's surface, is too dispersed and/or too low in quality to be converted into alumina. Guinea is home to the largest reserves of metallurgical Bauxite in the world. It also produces a product that is highly purified and prized for having a low natural silica content. China has become the largest producer of bauxite in the world, surpassing Australia by 2023. It now represents around 40% of global production and 70% of seaborne exports. Guinea's exports increased by 25% from year-on-year to 183 millions metric tons by 2025. This caused the prices to fall by nearly half in the last year and first part of 2026. The government wants to find the best way to?hit the brakes' without creating the market disruptions caused by Congo’s cobalt-export quota system. CHINESE DEPENDENCY China is increasingly dependent on Guinea to supply bauxite for its massive aluminium sector. Imports from Guinea grew from 334,000 tons to 149,000,000 tons by 2025. By then, they represented 74% of all Bauxite imported. China's bauxite deposits are smaller and of lower quality than those found in Guinea. The country's aluminium smelting capability has been massively increased in the last century. This expansion is far greater than its domestic bauxite mine capacity. The Chinese have plenty of time to prepare for the planned crackdown by Guinea on its bauxite industry. Imports from Guinea in March reached a record monthly volume of 18 million tonnes. The scale of the flow of materials makes it difficult to break the dependence. The nature of the dependency will however change. ALUMINA AMBITIONS Chalco's commitment to building the new 1.2-million-ton-per-year alumina refinery shows how seriously China takes the threat to the flow of raw materials. This is the first significant overseas investment by China's giant state corporation in alumina. This is the third alumina refinery announced by China in recent months. The only refinery in Guinea is Friguia, built in the 1960s. It was first owned by France's Pechiney and then by U.S. producers Reynolds, and since 2008, by Rusal. The refinery was shut down between 2012 and 2018, but it is now operating, although at a lower capacity than its original 650,000 tons per year. Conakry's government aims to build five or six additional processing plants by 2030, with a combined alumina capacity of seven million tons. The seizure last year of mining assets by Emirates Global Aluminium for failing to fulfill a commitment for refining served as a "stark warning" for other operators. NEW INDUSTRY?HUB Guinea follows Indonesia's lead, which in 2023 banned the export of bauxite to force miners into building up processing capacity. Guinea does not have enough energy to refine alumina or smelt it into aluminium. If Guinea is able to implement its strategy successfully, it can turbo-charge West African alumina hub creation. Other African bauxite manufacturers are also following the same value-added path to keep more of their mineral revenue. Nigeria signed a $1.3billion investment deal with Africa Finance Corporation to build an alumina refining plant, while Ghana wants to do the exact same thing under the auspices the Ghana Integrated Aluminium Development Corporation. The shift in Africa from mining to first stage processing could have a transformative effect on the aluminum supply chain. The seaborne bauxite industry will shrink. Global alumina exports will increase and China's alumina refineries in the country will be competing with their biggest raw material supplier. Andy Home is a columnist at. This column is great! Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
Pakistan roadside blasts kill seven, AP says
The Associated Press reported?on 'Saturday? that two roadside bombs had killed at least seven people in a region of northwest Pakistan and injured three?, citing the police.
The?agency stated that there was no immediate claim to responsibility for the explosions. Authorities?launched an investigation into the perpetrators.
It was reported that the first blast occurred in the district of Bannu, in Khyber Pakhtunkhwa, and then the second one followed, as rescuers were responding. Yasir AFridi, an experienced police officer, is credited with the information.
Afridi said that three people were injured and five were killed.
Requests for comment were not immediately responded to by the district administration or the office of?the Bannu Divisional?commissioner.
Asif 'Ali Zardari, President of Pakistan, condemned the attack on X and warned "internal & external handlers terrorism" to refrain from providing safe havens, financial assistance, and logistical support to such networks. (Reporting and editing by Clarence Fernandez in Bengaluru, Anusha Sharma in Bengaluru)
(source: Reuters)