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Official data shows that Guinean bauxite production has increased by 25% in the face of export restrictions.
Official data released on Tuesday showed that Guinea's bauxite production grew by 25% in the first quarter of 2026. This was largely due to Chinese demand. The government is planning export restrictions to protect smaller producers and boost prices. Guinea is the largest exporter in the world of bauxite - a major feedstock for aluminum - and has experienced a strong growth rate. In 2025, Guinea's bauxite output reached 183 million tons. Mines Minister Bouna Sylla told ? In March, Mines Minister Bouna Sylla told? Guinea exports more than 70% of its bauxite to China. This makes the West African country a key player in Beijing's aluminium production chain. Guinean bauxite exported reached 60.9 million tonnes between January and March of this year. This is up by 25.3% compared to 48.6 millions tons during the same period in 2013. According to data, quarterly exports were primarily driven by Chinese-linked companies, despite Beijing’s weak aluminum exports. Societe Miniere de Boke, or SMB, led the way with 18 million tonnes. China's Chalco state-owned company shipped 8 million tons. The data also showed that China's Hongqiao controlled AGB2A/SDM and CBG, as well as AMC, were major contributors. Guinea's Mines Chamber did not respond immediately to a request for comment. GUINEA BAUXITE PRICE ARE AT A FOUR YEAR LOW According to Anthony Everiss of consultancy CRU, Guinean bauxite free-onboard prices are at their lowest level since March 2022. They range from $32 to $38 per ton. He said that although shipments have been strong in April, CRU expects the growth of bauxite to be sharply reduced later on - 2026 - as the government takes steps to limit exports. CRU expects that the government's export restrictions will also?slow down production growth in 2026, along with?seasonal disruptions and high fuel costs? by some miners. Everiss said that Guinea could use tax changes in addition to export caps to encourage miners to invest in rail, ports, and domestic refinery capacity.
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US fuel prices at 4 year high due to Iran war disruption and refinery outages
The average U.S. gas price has risen to its highest level in almost four years. It is up more than 40% since the U.S. and Israel attacked Iran at the end February, according data from the American Automobile Association. AAA data shows that prices at the pumps were around $4.18 per gallon on February 2, up 11 cents in one month and $1.19 since late February. If crude oil prices rise further, gasoline prices may increase even more. Brent crude futures gained 16% last week and U.S. West Texas Intermediate gained 13%, as supply concerns grew. Prices of oil had taken a breather earlier in the month as hopes of reopening of the Strait of Hormuz were high. GasBuddy analyst Patrick De Haan said that refinery problems and scheduled maintenance will keep prices high for Midwest consumers. BP's 440,000-barrel-per-day oil refinery in Whiting, Indiana over the weekend experienced a brief power outage that caused one ?of its processing units to be shut down. Phillips 66's ?356,000-barrel-per-day Wood ?River refinery in Illinois took its crude oil unit and some other parts of ?the refinery offline at the end of February ?for a 45-day maintenance period. Marathon Petroleum's 253,000 bpd Robinson Refinery in Illinois began scheduled maintenance?mid-March. Units are expected to remain offline?until mid-May. De Haan stated that retailers in the Great Lakes Region could raise prices as soon as today.
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South Africa reduces fuel taxes to offset Iran War Impact
South Africa said on Tuesday it would extend the fuel tax cut 'for two more months' to cushion the impact of the iran war on household budgets. However, the relief will end after this period and the country will recoup lost revenue through other means. According to the?International Energy Agency, the U.S. and Israeli war on Iran has led to the largest oil supply disruptions in history. This has hurt countries like South Africa, which import most of their fuel, as global energy prices are rising. The government announced a reduction of one month in the general fuel tax for April in late March. It has now extended this?relief? into May and early June. In April the levy for petrol and diesel was lowered?by $3.1809 per litre. For May, it will be reduced by 3 rand for petrol, and 3.93 for diesel. The finance and petroleum ministry announced in a statement that the relief would be halved to 1.50 rand per litre of petrol and to 1.96 rand per litre of diesel. They said the measure was intended to 'address concerns about higher inflation and the negative impact on economic growth. The 'government' reiterated that the fuel tax reductions would not impact the fiscal framework of the 2026 budget, as the foregone tax amounting to 17.2 billion rand ($1.04billion) would be funded by a combination higher than expected revenue and underspending. South Africa's Central Bank flagged fuel-driven risks of inflationary risk?at its meeting on monetary policy?in march and has said since that market implied interest rate expectations indicate scope for two 25-basis point hikes this year.
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GM raises its profit forecast, but flags the expected tariff refund
General Motors announced on Tuesday that its core profit for the first quarter rose by 22%. The company also raised its earnings forecasts for the full year, boosted by a strong U.S. auto market and an anticipated tariff refund. The U.S.'s largest automaker, based on?sales, comfortably beat analysts profit estimates as it navigated a rapidly changing geopolitical backdrop and regulatory environment that is reshaping industry. U.S. tariffs and higher energy costs related to the Iran War are weighing down on results. However, margins are being lifted by President Trump's looser fuel economy and pollution rules. Despite higher gas prices, pickup-truck sales, which are a major profit driver, remain strong. GM, however, warned that the inflation caused by the war would continue pressure the business. Mary Barra, CEO of the company, said that she was "mostly watching" what happened with the Iranian conflict. She cited rising costs for commodities and logistics. The company said that it had diverted 7,500 SUVs planned for shipment from the Middle East due to the conflict. CORE PROFIT BEAT GM's earnings before interest and tax of $4.3 billion or $3.70 a share beat the analysts' estimates?of $2.62 according to LSEG. In morning trading, shares fell by around 2%. Detroit's automaker increased its profit forecast for 2026 by $500 million. This is the same amount that it expects to recover as a result of refunds related to a U.S. The Supreme Court ruled that some tariffs imposed by the Trump administration were invalidated. The company now expects a core profit for the full year of between $13.5 billion and $15.5 billion. The expected refund has lowered the estimate from $3 billion to $4 million to $2.5 billion or $3.5 billion. GM's profit forecast is higher despite rising costs. The company now estimates that inflation in raw materials, computer chip prices, and logistics will cut earnings by $1.5 to $2 billion, or $500 million, compared to what it predicted late last year. LOWER SALES BUT HIGHER MARGINS The net income for the quarter fell by 6% compared to the same period last year, to $2.6 billion. This was mainly due to a $1.1billion charge to settle claims from suppliers regarding slowing electric vehicle programs. Revenues of $43.6 billion were down by less than 1%. The American consumer has continued to buy cars despite the economic uncertainty caused by tariffs, rising gas prices, and a shaky employment market. On an earnings call, CFO Paul Jacobson stated that "we haven't yet seen any material change in demand or mix." JPMorgan analyst Ryan Brinkman stated that GM deserves credit for increasing its profit forecast despite the "significant uncertainty and volatilities." In North America, GM is the biggest money-maker. Its profit margin increased to 10.1%, from 8.8% a?year earlier. This was despite lower vehicle shipments and a 10% drop in sales during the first 'quarter. The decline in sales was partly due to a comparison with the first three months of 2025 when U.S. consumers bought new cars ahead of tariff-related price increases. Even though U.S. gas prices soared to over $4 per gallon, pickup-truck sales were strong in March. Jacobson told CNBC dealership traffic was steady in both March and April. GM says that lower warranty costs, a softer U.S. tailpipe emission rule and a stronger price helped offset the weaker sales. The average U.S. vehicle price increased by about 3% in the third quarter to $52,000. The EV business continues to be a loss-maker, so pulling back on it also helped boost results by several hundreds of millions. GM anticipates a boost of $1 billion this year by reducing EV losses. GM reported $165 million in equity income for China, where it is restructuring. This compares to $45 million a year ago. The core profit for its international business, excluding China, was $123 million. This is up from $30 millions. GM, like many of its rivals has reduced EV production due to a weaker market following the pro-fossil fuel U.S. policy introduced last year. In the last three months of 2016, EV sales dropped by 43%. In addition to its first-quarter charge, GM recorded $7.6 billion of writedowns for its EV program last year.
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Fears of inflation send yields in the eurozone to multi-week heights
The yields of euro zone bonds hit a multi-week high on Tuesday, after a survey revealed that consumers in the euro?zone expect higher inflation. This led markets to increase the probability of an interest rate hike by the European Central Bank within the next few months. Germany's rate sensitive two-year yield climbed to 2.6668% - its highest since April 7 - and last was 2.6446%. Germany's 10-year bond yield, which is?the benchmark for the euro zone, reached a new?two-week high of 3.086%. Last time, it was 3.3 basis points higher at 3.0718%. The prices of oil and gas are still lower than they were in late March, before the U.S. negotiated a ceasefire with Iran. However, the energy price has been steadily rising in recent sessions due to the effective closing of the Strait of Hormuz. The hope for a quick resolution of the U.S.-Israeli war against Iran, which has caused disruptions in energy supplies and fueled inflation, is fading. The United Arab Emirates announced on Tuesday that it is leaving the OPEC oil producers' group, due to an unprecedented energy crisis triggered in part by the Iran War. Donald Trump stated on Tuesday that Iran informed him they were in a'state of collapse' and figuring out their leadership situation. The efforts to end the war appeared at a standstill with the U.S. President unhappy with the latest plans by Tehran. Investors 'now see a higher chance that the ECB will raise interest rates to prevent oil and gas price increases from spreading into broader prices, despite its negative impact on 'economic growth. The ECB survey showed that inflation expectations for the year ahead jumped from 2.5% to 4.0%, and those for the next three years rose from 2.5% to 3.0%, both of which are well above the ECB’s 2% target. ECB CENTRIC ON INFLATION AND NOT GROWTH A separate survey revealed that the economy is in decline, but the focus of the market was on the survey of inflation expectations. The market is more concerned about inflation than it is growth. This is partly due to the fact that the ECB has historically given four times the weight to inflation compared to growth. However, the Fed gives the same weight," said Mohit Kumra, chief Europe economist of Jefferies. ECB policymakers will likely keep rates on hold when they meet Thursday, as they wait for more information about the extent and duration of the energy-induced shock. However, they are expected raise rates by the time they make their next decision on June. Markets currently price in an 85% chance?"that the ECB will raise rates by its meeting in June and fully price in two 25 bp increases by its meeting in September. This?pricing? is slightly higher than before the survey. In June, the ECB will also present staff forecasts of economic indicators (including growth and inflation). Typically it is easier for them at these meetings to make a final decision because they are able to?justify' it based upon forecasts. Although our base case is that we should not get a rate increase, because we believe?that we are moving toward a deal, in three months, we see the oil going up to $80-$85 a barrel, but it's always uncertain and geopolitics can be difficult to predict. Brent crude futures (June) were up 2.9% at $111.35. Germany's yield was not the only one to rise. Italy's 2-year yield rose by 6.4 basis points to 2.8663%. It had previously reached its highest level in three weeks. Italy's 10-year yield increased by 4.4 basis points to 3.8975%. This week, other central banks will also be meeting. The Bank of Japan held rates at the same level on Tuesday, but adopted a more hawkish tone. This sent 10-year Japanese government bonds yields to a new 29-year high. The Federal Reserve will conclude its meeting on Tuesday and the Bank of England, on Thursday. Reporting by AlunJohn Editing by Bernadettebaum and Gareth Jones
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In a prisoner exchange, Belarus releases a Polish journalist and Warsaw releases a Russian archaeologist
As part of an exchange of prisoners at the border with Poland, Belarus released Andrzej Pczobut a Polish-Belarusian activist and journalist, said Polish Prime Minister Donald Tusk on Tuesday. In return, Poland freed a Russian archaeologist named?Alexander?Butyagin whom it was preparing to extradite back to Ukraine. Tusk stated that five prisoners, including Polish priest Grzegorz Gawel as well as an unnamed Belarusian cooperating with Polish special services were released in exchange for five Belarusian and Russian citizens. The names of all the individuals released were not immediately announced. Not all names of the released individuals were immediately announced. Poczobut, a Belarusian with Polish ancestry, was arrested in March 2021 and sentenced to eight years of prison in 2023 on charges of inciting racial hostility and undermining Belarusian Security. Poland has long sought to free him, claiming that the charges are 'unjustified and politically motivated. "Andrzej Poczobut is free! Tusk posted a message on the social media platform X saying, "Welcome to your Polish home my friend." Tusk described Poczobut's behavior as "unyielding", and cited their first conversation following his release. "Will I be allowed to return there (to Belarus),? His first words were: "Will I be able to go back there (to Belarus)?" Only you decide. "You are now a man of your own free will,' I replied. Poczobut was awarded the Sakharov Prize 2025 for Freedom of Thought by the European Union, an prestigious award in human rights. Gawel, an alleged espionage accused Carmelite priest from Krakow was arrested by Belarusian authorities last year. Since Russia, Minsk’s principal ally, began its full-scale war in 2022, Poland has become an oasis for Belarusian opponents and a staunch ally of Ukraine. Lukashenko released hundreds of prisoner in the last two years. This process has intensified since Donald Trump returned home to the White House, and sent John Coale as a special envoy to negotiate with Lukashenko. In return, the U.S. has started removing sanctions against Belarus. Coale said on Tuesday that?he anticipates securing the release of additional prisoners from Belarus within the next month. He added that lifting further sanctions against Minsk is always a possible if this occurs. Human rights groups claim that more than 830 political prisoners remain in Belarusian prisons. The UKRAINE was looking for a Russian archaeologist TASS reported that the Russian FSB, which is responsible for security, had confirmed two Russians would be returning home as a result of this swap. Butyagin was arrested in Poland back in December. He was due to be delivered to Ukraine who accused him of plundering and unauthorised excavations in Crimea. Russia expressed its outrage at his arrest and demanded that he be released. The FSB stated that the 'other Russian' who was freed was the wife of a Russian serving in Moscow forces in Transdniestria - a breakaway region within Moldova. The FSB said that the two Russians had been exchanged for "two Moldovan spies" who were arrested by Russian security services last year after arriving in Russia. ?Maia Sandu, the president of Moldova, wrote on X that "Today we bring two Moldovans home from Russian captivity." It would not have been feasible without the US Administration, @realDonaldTrump, and our partners from Poland and Romania. We are grateful. "They're coming back!"
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Sources say that Raizen Creditors have hired Journey Capital and Felsberg to serve as advisors.
Three people with knowledge of the matter say that a group of 'holders of fixed-income bonds issued by Brazilian sugar and ethanol company?Raizen have hired financial?advisory firm Journey Capital and a?law firm Felsberg to represent them in the restructuring process of the company. Raizen owes the group about 14 billion reais (2,81 billion dollars) of debt. Journey released a press release confirming the hire. Felsberg, Raizen and others declined to comment. Raizen started talks earlier this month to convert its debt into shares. This move is a key part of a deal announced last month by the world's largest producer and exporter of sugar-based ethanol, and its bondholders, creditors and holders of 65 billion reais in outstanding debt. In February of last year, it was reported that Raizen, a joint-venture between Shell and 'Cosan had appointed Pinheiro Neto & Cleary Gottlieb to act as its legal and financial advisors, and Rothschild & Co. as its financial adviser, in order to resolve the financial problems. The company has a little over a month to get final approval on the restructuring proposal. Raizen and its lenders are currently discussing the terms and volume of the debt to equity?conversion. Raizen's investors are also pushing for a bigger capital injection. Shell has committed to invest 3.5 billion reais in Raizen this year. Cosan is facing its own financial problems and was unable to make the same commitment. Chairman Rubens metto also agreed to invest 500 millions reais. Four people involved in the discussions said that local and international creditors wanted?shareholders?to at least double the capital injection they made into the company. The person who spoke with the others also said that there are discussions about the future role of Ometto at Raizen. He is a Cosan founder and his position will be diluted significantly by the debt to equity conversion. Cosan and Ometto have declined to comment.
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Sources in the industry say that gold miners will continue to work in Mali despite recent attacks.
Industry executives and analysts said that international mining companies will continue to invest in Mali despite the attacks of 'Saturday, which killed the Defence Minister,' raising concerns over supply routes. Mali, one of Africa's largest gold producers, has seen its prices reach record levels on the international market. The country also has large deposits of lithium, uranium, and copper. It has been fighting insurgents for decades, and the unrest that has resulted has allowed the military stage coups. After rival insurgents demonstrated unprecedented coordination on Saturday, an alliance of al Qaeda linked militants and separatists rebels killed Mali’s defence minister. They also attacked the capital’s?airport, and forced Russian soldiers to leave a deserted town more than a thousand kilometres away. The government of Mali says the situation is under control Mali's Government has stated that operations against the rebels continue, but the situation is still under control. The Mines Ministry did not respond to comments made immediately. The mines ministry did not immediately respond to requests for comment. Vincent Rouget of Control Risks said that "security and terrorist risks will?predominate" on supply routes. Daniel van Dalen is a senior analyst at the risk consultancy Signal Risk. He said that there was a greater likelihood of occurrence and that unrest in mining operations could be triggered by this. He said that there was a "credible risk" of such reactions spreading to foreign interests and assets, especially those linked to the West. Mali has already become less attractive for international miners, as the military-led Government, which is dependent on mining revenue, after gaining power in 2021, altered the mining code. Reforms increased taxes, increased the amount held by 'the state and decreased that held by foreign companies. Barrick gained operational control over its flagship Loulo-Gounkoto mine earlier this year, after a nearly two-year standoff. BALANCE OF RISE AND REWARD MOST miners continue to invest despite the strained relationships, mainly because industrial mining is concentrated primarily in the South, where the unrest has been relatively sheltered. Resolute, a company listed in Australia, said that its Syama mine in southern Mali is fully operational. The violence has not affected the safety of staff or production. A mining executive in central Mali who operates across the Sahel said that the high gold prices and the good quality ore could offset the risks. Chinese miners have become more aggressive, and in some cases they are buying assets from other operators who reduced their exposure. Canadian-listed Allied has sold its Malian operations to China's Zijin in the past year. Sources at Zijin confirmed that they had professional armed guards. A senior official from Ganfeng Lithium, which holds 65% of Mali’s Goulamina project, stated that the mine is located far away from the affected areas, and the company has prepared for all eventualities. Maxwell Akalaare Adombila, Tom Daly and Barbara Lewis contributed to the reporting.
EU's top diplomat urges Southeast Asian countries to find alternatives to Russian oil
Kaja Kallas, the EU's chief of foreign policy, urged partners in Southeast Asia to not turn to Russia to get oil as they struggle to deal with fuel shortages due to the Middle East conflict. This month, the EU approved new sanctions against Russia, including restrictions on oil trading, in an effort to reduce Moscow's financial ability to support its war in Ukraine. Kallas stated that Russia had benefited from the U.S. and Israeli war against Iran which led to the closure of the Strait of Hormuz.
"You are in an energy crisis, and you must have supplies." You have to?see the bigger picture. If you buy Russian oil they can continue this war in Ukraine.
Kallas stated that the EU is seeking ASEAN’s cooperation in its sanctions against Russia. The 27-nation group aims to target the?Russian revenue from oil rather than specific countries or companies within Southeast Asia.
Last month, it was reported that Southeast Asian nations such as Vietnam, Thailand and the Philippines, among others, are seeking to buy more oil from Russia.
Kallas, without going into detail, said that the purchase of Russian oil helps Iran maintain the Strait of Hormuz's closure.
Kallas questioned if the U.S. administration of President Donald Trump would refocus on peace in Ukraine following a meeting between Russian President Vladimir Putin on Monday and Iranian Foreign Minister Abbas Araqchi.
Does it change America's attitude toward?Russia? in the war against Ukraine if President Putin openly praises Iran for their 'heroic battles' against America? They have not put any pressure on Russia." (Reporting and writing by Ain Bandial, Bandar Seri Begawan. Editing and editing by David Stanway, Gareth Jones and Rozanna Azhar.
(source: Reuters)