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Vale's iron ore production in Brazil fell 4.5% during the first quarter
The Brazilian miner Vale reported that it produced 67.7 millions metric tons (tonnage) of iron during the first quarter 2025. This is a 4.5% decrease from the year before, according to its report on sales and production. Vale, one of the largest iron ore producers in the world, said that high rainfall levels affected its Brazilian Northern System mining complex. However, the company added that the performance was within its plans, and adhered to its 2025 output guidance. Vale confirmed its forecast of producing between 325 and 335 millions tons of iron ore by 2025. The report shows that sales of the ingredient used in steelmaking rose by 3.6% year-on-year, to 66.1 millions tons. Vale attributes the growth to "supply-chain flexibility utilizing advanced inventories." Vale's average realized iron ore price was $90.8 per ton for the March quarter, down nearly 10% from last year and 2.4% from the previous quarter. Vale's base metals business saw its copper production increase by 11% quarter-on-quarter to 90,900 tonnes. Nickel production also increased by 11% to 43,900 tonnes in the same period. Reporting by Andre Romani and Marta Nogueira from Sao Paulo, editing by Natalia Siniawski
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Impossible Metals, a deep-sea mining company, seeks a mining lease near American Samoa
Impossible Metals, a deep-sea miner, said Tuesday that it had asked U.S. Federal officials to launch an auction to gain access to nickel, cobalt and critical minerals offshore of American Samoa. Estimates suggest that the waters surrounding the Pacific Ocean contain large quantities of polymetallic nodules, or potato-shaped rocks filled with building blocks for electronic vehicles and electronics. Impossible Metals, a privately-held company, has asked the U.S. Department of Interior's Bureau of Ocean Energy Management (which oversees federal waters for mineral deposits) to launch a lease process that is competitive for the American Samoa Nodules. A BOEM spokesperson confirmed that the request was made and stated the agency would decide "by May 23 whether to initiate steps which could lead to a leasing sale." Since 1991, the agency hasn't held a lease sale. Before any auction, if the BOEM decides that it will move forward, a request for public comments would be made. Deep-sea miner supporters say that it will reduce the need for large land-based mining operations, which are not always popular with local communities. Detractors claim that more research is required to determine the impact of deep-sea mining on ecosystems. Impossible Metals, based in California, has developed a robotic claw with artificial intelligence that can distinguish between nodules (mineral deposits) and aquatic life. Deep-sea mining is allowed in any country's territorial waters up to approximately 200 nautical miles away from the shore. The California-based Impossible Metals doesn't need to ask permission from the International Seabed Authority, created by the United Nations Convention on the Law of the Sea which the U.S. does not ratify. Last month, it was reported that the White House has been considering an executive order that would allow mining companies to bypass the ISA if they wanted to mine in international waters.
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White House: China is the main player in trade negotiations
Karoline L. Leavitt, White House Press Secretary, said that President Donald Trump was open to a deal with China. However Beijing must make the first move. Leavitt said that Trump gave her the statement in an Oval Office discussion to use. Leavitt stated that "China wants to have what we do... our American consumers, or, put another way, the need for our money." China increased its tariffs against imports of U.S. products to 125% in retaliation to Trump who raised U.S. duties on Chinese goods by 145% while pausing planned levies on other countries' goods. Trump has described Chinese president Xi Jinping with admiration, but neither man is backing down in the escalating trading war between their countries. "The President, again, made it clear that he is open to a China deal." Leavitt stated that China must make a deal to the United States of America. Trump said that he hopes the trade tensions will lead to a positive outcome. Beijing, however, has not engaged in talks and instead raised its own tariffs against U.S. products. This is unlike other countries who have sought to negotiate with Washington after Trump's plans for new tariffs. (Reporting and editing by Deepababington: Additional reporting by Nandita Jackson, Katharine Bose, and Nandita Mason)
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Trump exempts coal plants from mercury and air toxics limitations
According to the Environmental Protection Agency's list published on Tuesday, the Trump administration has granted exemptions to 47 companies for two years from regulations that limit mercury and air pollutants in their coal-fired plants. The list of exemptions is the latest attempt by the administration to use emergency or executive orders to shield polluting plants from immediate compliance with the air and water standards that were tightened by Biden's administration, as the EPA embarks on a longer process to rollback those rules. The Mercury and Air Toxics Standard of the Biden era is still in effect after the Supreme Court refused to suspend the rules in October after a group mainly Republican states and industrial groups brought a legal challenge against it. Last week, U.S. president Donald Trump announced that certain stationary sources covered by MATS were exempted from compliance. This was done to revitalize the coal industry and extend the life expectancy of coal power plants. According to the Energy Information Administration (EIA), coal-burning power plants now generate less than 20 percent of U.S. electricty, down from 50 percent in 2000. This is because fracking, and other drilling methods, have increased natural gas production. Solar and wind energy have also reduced coal consumption. The American Lung Association has stated that mercury is a powerful neurotoxin which could cause serious developmental harm. Mercury and other air pollutants associated with coal combustion increase the risk of lung cancer, asthma attacks, heart attacks, and strokes. The Biden era rule required constant emissions monitoring. The exemption was supported by those who said that the MATS rule imposed severe burdens on U.S. coal power plants, and the future viability of this sector. Troy Downing, Montana Republican Congressman, applauded that two units at the Colstrip Coal Plant were included on the exemption list. He added that this "will bring clarity and certainty to operations moving forward." Reporting by Valerie Volcovici, Editing by Mark Porter
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In a case involving money laundering and Odebrecht, a Peruvian court has sentenced ex-President Humala to prison
The Peruvian Court sentenced Ollanta Humala, the former president of Peru, to 15 years behind bars for illegally receiving campaign funds from a Brazilian company. He is now the latest former leader in Peru to be sent to prison. Humala, his wife and their campaign team were accused of receiving money from Brazilian Odebrecht (now known as Novonor) during his successful 2011 elections. Nadine Heedia, Humala's spouse, was sentenced on Tuesday to 15 years of prison. The former president, a retired officer who led Andean nations from 2011 to 2016, is likely to serve his sentence in a police station built specifically to house Peruvian leaders behind bars. Alberto Fujimori, the former president of Mexico, is currently in jail at this site. Humala referred to the accusations as political persecution during his three-year trial that lasted after he began an investigation in 2016. Humala, the former president's other daughter, was accused by prosecutors of receiving illicit funds through Humala’s Nationalist Party in order to run his 2011 campaign. Even if he decides to appeal the conviction, his imprisonment will take effect immediately. The court will continue to read out the entire sentence over the next few days. LATEST LAVA JATO CONVICTION Odebrecht, a former construction giant that admitted to bribing governments in Latin America for the purpose of building its empire, has now changed its name to Novonor. In 2020, it changed its name from Odebrecht to Novonor and is now facing bankruptcy proceedings. Humala, Peru's second ex-president to be imprisoned, is the fourth person to have been implicated in the massive corruption case known as Lava Jato. In 2019, the former president Alan Garcia shot himself to death as police surrounded his house to arrest him over alleged corruption in relation to the firm. Pedro Pablo Kuczynski had to resign after only two years of office the year before. Toledo, meanwhile, was sentenced last year to 20 years in prison after it received $35 million as bribes for contracts with the public sector. Former Odebrecht executives testified in Peruvian courts that the company had funded nearly all of the presidential candidates for the country over a period of nearly 30 years. (Reporting and writing by Marco Aquino, Kylie Madry, Alistair Bell, Aida Peaez-Fernandez; editing by Chizu nomiyama)
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Sheinbaum: Mexico is negotiating with its northern states in order to send more water to the US.
Mexico's federal and state governments are negotiating to send more water from their northern states to the United States. This comes after President Donald Trump threatened tariffs and sanctions because of the historic shortage. Mexico has been forced to scramble for solutions, after falling behind in its obligations under a 81-year old water-sharing agreement with the U.S. In her daily press briefing, Mexican President Claudia Sheinbaum stated that "talks are underway with the governors from Tamaulipas and Coahuila to determine the amount of water that can be delivered... without impacting Mexican producers while also complying to the 1944 treaty." Reports last week indicated that Mexico would likely enforce an amended treaty inserted last year, which allows federal officials in Mexico to withdraw extra water from their states to meet obligations. However, state governments are likely to resist this move. According to the agreement that defines the water-sharing arrangement between the U.S. and Mexico through a system of dams and reservoirs interconnected, Mexico is required to send 1,75 million acre feet of water from the Rio Grande each year. A single acre-foot is equivalent to about half of an Olympic-sized swimming pool. According to the International Boundary and Water Commission, the current five-year cycle of the treaty ends in October. However, Mexico has only sent 30 percent of the water required. Officials in Mexico have stated that the pervasive conditions of drought have made it difficult for them to meet their delivery obligations. Officials in the United States accuse Mexico, however, of flagrantly disregarding the treaty. They also claim that Mexico prioritizes its own agricultural sector at the expense Texas farmers. Agriculture-producing northern states, already struggling with drought, closely guard their water supplies. Chihuahua officials and Tamaulipas officials have previously said that their states could not spare any additional water. They also questioned the legality the treaty amendement which gives the federal government more authority to take the water. Mario Mata, the executive director of the Chihuahua water council, said that the state was considering legal action to stop the amendment. This raises the possibility of a standoff. One protester was killed by the Mexican National Guard in 2020 when they clashed at Boquilla Dam, Chihuahua, with farmers over water deliveries to Texas. Sheinbaum stated last week that Mexico will send immediate water to Texas farmers. She did not specify a quantity. Sheinbaum said that Mexico sent U.S. officials an offer to fix the delayed deliveries. Last week, a Mexican official said that Mexico had agreed to send 122,000 acres-feet (acres-per-foot) of water to the U.S. It is also working on a plan to deliver an additional 81,000 acres-per-foot. This additional water would mean Mexico has still sent less than 40% the water that it is owed under the treaty.
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NOPA US soybean crush in March is 194,551 million bushels below most estimates
According to data released by the National Oilseed Processors Association on Tuesday, U.S. soybean crushing in March was below most estimates. The industry's daily average processing rate also declined for a second consecutive month. NOPA members, who account for 95% or more of U.S. processed soybeans, crushed 194.551 millions bushels last month. This is up 9.4% compared to February's crush of 177.870, but down 0.9% compared to the March 2024 crushing of 196.406, According to NOPA, the March total indicated an average daily processing rate of 6.276 millions bushels per day. This was lower than the 6.353million bushels per day crushed in the month of February, and the lowest rate since September. The average processing rate decreased despite the inclusion of Scoular, a new member of the NOPA, and its crushing plant in Goodland (Kansas) in the monthly report by the group for the first month in March. In recent years, the rate of soy crushing has increased as more processing plants came online and facilities have expanded their capacity to meet the rising demand for biofuels. Analysts said that a slump in soymeal and weaker crush margins caused several plants to reduce their output over the past few months. Nine analysts polled estimated that the March 2025 crush would be below the average analyst's estimate of 197.602 millions bushels. Estimates ranged between 193.500 and 202.000 million bushels with a median estimate of 198.000 millions bushels. As of March 31, soyoil stock levels among NOPA member companies fell for the first six-month period to 1.498 bn pounds. This is down 0.3% compared to 1.503 bn pounds at the end February, and 19.1% compared to the 1.851 bn pounds of stocks one year ago. Six analysts estimated that stocks would rise on average to 1.617 trillion pounds. The estimates ranged between 1.475 billion and 1.700 billion pounds, with a median estimate of 1.624 million pounds. (Reporting from Karl Plume).
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Chile, Canada, and Peru respond to Trump's copper tariff probe
Three of the top copper suppliers in the United States have told the administration of President Donald Trump that the imports do not pose a threat to U.S. national security. Chile, Canada, and Peru are attempting to avoid potential tariffs for the metal, which is needed for electric cars and other industrial applications. Trump began a probe in February into potential duties under the Section-232 national security provision of Trade Expansion Act of 1964, which he had used during his first term in the United States to impose global tariffs of 25% on steel and aluminium. In recent weeks, the three countries have reacted to the investigation through letters that they submitted to the U.S. Commerce Department. These letters are now available publicly on a U.S. Federal website. According to Trade Data Monitor's (TDM) data, these nations together account for 94% of U.S. copper imports and copper alloys. Chile is the top exporter, accounting for 70% of these imports. Canada has 17% and Peru 7%. All are covered by free trade agreements. In a letter dated 31 March, Chile's Ambassador in Washington Juan Valdes stated that "Copper imports are beneficial to the United States supply chain and do not pose any threat to its national interests." The Trump administration is yet to provide any details on the results of its February investigation that aims to reduce China's influence on the global copper markets. Section 232 investigations must be completed within 270 calendar days after they are initiated. The American Chamber of Commerce in Chile stated that Chilean copper exports are beneficial to the United States in terms of security and economy, and that tariffs may end up helping China. Chile exports most of its products to China. In a letter, Paula Estevez wrote that "the playing field has been leveled and tariffs on Chilean Copper would only serve as a way to make Chilean copper exports more appealing to China and ultimately weakened the economic and security interest of the United States." The Canadian government stated that maintaining a free trade in copper would help the United States' security efforts, as this metal is used in defense industries. The top Canadian mining group said that tariffs would give China an advantage over the United States. In a letter, Pierre Gratton wrote that imposing tariffs on Canadian Copper would be counterproductive. In a letter, the Peruvian ministry of foreign trade also asked the United States not to impose any restrictions on the country's copper imports. It noted that the imports did not pose any security risk. The letter stated: "We are confident that our reliable and longstanding trade relationship will continue... thus allowing our exports continue."
The suspect in the arson attack at Pennsylvania Governor's residence has been charged with attempted murder
After his arrest, the suspect in the arson attack at Pennsylvania Governor Josh Shapiro’s residence was charged with attempted murder, terrorism and aggravated arson, among other felonies.
Cody Balmer (38), the suspect, was arrested on Sunday. This happened after Shapiro, his family, and the police had rushed them out of the official residence of the Governor and the local firefighters had extinguished a fire that broke out in the middle night. Authorities said in a probable-cause affidavit that Balmer had filled beer bottles at his Harrisburg home with gasoline and then walked for about an hour to the governor's house. He then scaled the fence, broke both windows, and threw two Molotov Cocktails inside before fleeing.
The fire started in two rooms, which were not near the sleeping area of Shapiro or his family.
Balmer surrendered himself to the police a few hours later. In the affidavit, he told police that he had "harbored hatred" towards the governor. He also said he would beat him with a hammer should he ever meet the governor.
Balmer faces charges of attempted murder, terrorism and arson. Also, he faces charges of loitering and assault.
Shapiro, a Democrat who is seen as a possible candidate for the presidential nomination of his party in 2028, told a press conference at which he was present that FBI Director Kash patel had called him a few minutes earlier and assured him "all resources of the federal governments" would be used to investigate the attack.
In a Facebook post, U.S. attorney general Pam Bondi expressed her "deep relief" that the governor and his wife were safe. She also praised the arrest of Balmer. The house was burned down hours after Shapiro had posted a photo of his family’s “seder” table, as they celebrated Passover's first night. Passover is a Jewish holiday that celebrates the transition from slavery to freedom.
"I refuse to accept the bonds that are being imposed on me, by someone attacking us like they did last night," he declared on Sunday. He vowed to continue working for Pennsylvania in peace. Shapiro said that his family was still planning to hold a seder on Sunday evening.
Shapiro, when asked if the attack was a hate crime, said that he would defer the decision to federal authorities and Pennsylvania’s district attorney.
The Pennsylvania State Police Commissioner, Lieutenant Christopher Paris said that authorities will perform a "multifaceted" review of security measures as well as the timeline of events. (Reporting and editing by Frank McGurty, Chizu Nomiyama and Brendan O'Brien from Chicago)
(source: Reuters)