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By America Hernandez PARIS, 30 April - French oil major TotalEnergies, and Philippine renewables developer Nextnorth, have announced that they have started construction on a 440 Megawatt-peak Solar Park in the Asian nation. The $300 million project is scheduled to be 'online' by the end of 2027 and will produce 1.2 Terawatt-hours over a period of?20 Years. The remaining half will go to the national grid in the fourth renewable tender round. Total, unlike other oil companies that have walked back on their renewable commitments has expanded its green portfolio. Most recently, it formed a joint venture, with Emirati company...

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...

The charts below, two months after the Iran War began, show the impact of the war on the economy in emerging and developing countries. They are facing increasing inflation, fiscal strains, and trade disruptions. 1/DIRECT HITS Middle East countries and their neighbors are the most directly affected. Qatar recorded its first-ever?trade deficit of $1.2 billion after the Strait?of?Hormuz closure slashed imports by half and exports more than 90%. JPMorgan's economists predict that Qatar's economy will shrink by 9% in this year due to damage caused to an LNG facility, which is more than Iran's forecast of minus 6.1%. The Fund...

Bloomberg News reported that Brazilian sugar and fuel company Raizen has sent a 'alternative proposal' to its creditors in order to hammer out the terms of a debt restructuring worth 65 billion reals ($13.05 billion). Reports citing sources familiar with the matter said that the company has told its creditors that it is in discussions to raise as much as 5 billion reais of new capital. Bloomberg reported that the proposed capital raising would be an addition to the 4 billion reais already pledged as funding by Shell and Rubens ometto, Cosan founder and controlling shareholder. The source of additional...

A senior executive at the South 'African petrochemical firm Sasol said that the company has received certification for its sustainable aviation fuel from a German agency. This will allow it to export to the European Union. TUV SUD in Germany awarded ISCC Plus sustainability certification to Sasol's SAF, which is made using cooking oil and vegetables oils at its 108,500 barrels/day?Natref facility. Sasol stated that the agency also certified sustainable chemicals produced by Sasol's sister Secunda compound. Sarushen Pillay is Sasol's Vice President of Strategy and Technology. He said that South Africa had a large amount of used cooking oil....

Teck Resources beat analyst's expectations for the first-quarter profit, thanks to a rise in copper prices and record sales. Meanwhile, its proposed merger with Anglo American remains on track. The Canadian miner said that it expects Middle East conflict will push up freight costs and explosives through the second quarter. This is especially true for its Chilean operations, which depend on diesel imported from abroad. Teck and its competitors are expected to benefit from a 50% increase in global copper demand between now and 2040, due to?increasing data center power consumption to meet artificial Intelligence and defense growth. Prices and...

The British government announced that military planners from over 30 countries will meet in London for two days starting on Wednesday. They will discuss a mission to reopen the Strait of Hormuz, and develop detailed plans. Last week, more than a dozen nations said they would join an international mission led by Britain and France to protect shipping along the Strait of Hormuz, if conditions permitted. This commitment was made after 50 countries from Europe and Asia, as well as the Middle East, joined a videoconference to send a message to Washington following Donald Trump's statement that he didn't need...

The following are some key quotes from traders and analysts at the FT Global Commodities Summit. MARCO DUNAND MERCURIA CEO You'd expect that China would try to secure more oil from other sources, given its dependence on the Strait of Hormuz. In the last two or three weeks, they have been selling crude oil aggressively. "China increased its oil inventories over the last few months, to 1.2 billion barrels. They have allowed refiners to use these commercial stocks." They may have been optimistic about their ability to reopen Hormuz, and they didn't feel the need to purchase crude oil now...

The finance?chiefs of Group of Seven nations agreed on Thursday that it was urgent to reduce the cost of the Middle East 'war' to the global economy and "reaffirmed the pressing need to move towards a lasting peace," said a?statement?from France, which is holding the G7 Presidency this year. The war was one of three major topics that the finance ministers and governors of central banks of the richest democracies in the world discussed on the fringes of the spring meeting of the International Monetary Fund (IMF) and World Bank (WB), which took place in Washington. The two also discussed...

Andrew Bailey, the Governor of the Bank of England, told BBC News that "the Bank of England will not rush to judgement" regarding interest rate increases, as central banks around he world are dealing with a soaring energy price due to 'the iran war. Bailey, who was in Washington at the spring meetings of the International Monetary Fund, said that higher oil and gasoline prices would undoubtedly feed through into prices. However, other factors make a decision about rates "very difficult", according to?the report. Bailey stated that "there are really difficult judgments to make." We're not going rushing to judgements...

Wale Edun is the Nigerian Finance Minister, and the Chair of the G-24 coalition of developing nations. He said that multilateral institutions should do more to help vulnerable countries weather the economic shocks caused by the Middle East war. Edun stated during the briefing for the G-24 at the IMF/World Bank Spring Meetings in Washington that "we would like them do more. We definitely like them provide, especially at this time additional liquidity risk management instruments that lower the cost of funding." The G-24 is a group of countries that coordinates the stances taken by developing nations on issues related...

Bloomberg News, citing sources familiar with the situation, reported that Shell has advanced talks with Abu Dhabi state oil company ADNOC about a possible deal to sell its retail fuel stations in South Africa. The transaction is likely to be worth around $1 billion. ADNOC was named as the preferred bidder, after Shell's failed negotiations with commodity traders Gunvor Group. A deal could be reached as soon as this quarter. The British oil giant has lowered its expectations for first-quarter production of gas due to the "volatility" in the energy markets following the Middle East conflict. Bloomberg reported that Shell...

The copper price rose on Thursday, and was poised to 'crack a five-day decline after positive factory data from China. Nickel prices were 'heading towards their biggest monthly jump in two years due to tighter supply coming out of Indonesia. In official open outcry, the benchmark three-month copper price on London Metal Exchange rose 0.6% to $13,085 per metric tonne. Metal used in construction, manufacturing and power was expected to rise by 6% in April. This would be the best month in?2026, based on the hope that the Middle East conflict will be contained. A private survey revealed that China's...

Major fund managers have predicted a sustained rally for mining and metals, as money pours in at the fastest rate in years. This is due to a robust AI infrastructure, increased defence spending, and a move away from expensive technology stocks. The assets under management of mining exchange-traded funds grew by more than twofold to $87.4 Billion by March 31 compared with $37 Billion a year ago, according to data compiled for ETFGI by the research firm. shows. Oil and gas?and agriculture also saw significant inflows. This marks one of the sharpest shifts in investment towards hard assets ever. Investors...

Analysts estimate that Thyssenkrupp's share of the proceeds from Kone's proposed purchase of liftmaker TK Elevator is nearly two thirds of its current market capitalisation. According to Jefferies and JPMorgan estimates, the windfall for the German company if the deal is completed could be as high as 3.4 billion euro ($4 billion). This would be a huge financial boost to the German firm that's undergoing a major restructuring in order to become a holding corporation. Thyssenkrupp's shares, which were up 7.5% by 1437 GMT, didn't comment on the financial implications of the deal. They only said they were reviewing the...

Analysts estimate that Thyssenkrupp will benefit from Kone's $34.4 billion acquisition of liftmaker TK Elevator. According to Jefferies' and JPMorgan's estimates, the windfall would be as high as $4 billion. This is a huge financial boost for the German business that is undergoing a major restructuring in order to become a holding. Thyssenkrupp's shares, which were up 7.5% by 1409 GMT, didn't comment on the financial implications of the deal. They only said they were examining "the proposal" under which Kone could become a world leader in lift manufacturing. The?company stated in December that the book value of its 16.2%...

Copper prices fell on Friday due to concerns about the continuing 'closure of Strait of Hormuz and the lack of progress made in the 'peace talks between?U.S. Iran. In official open-outcry trade, the benchmark three-month copper price?on the London Metal Exchange?slid 0.5% to $13,290 per metric ton. Israel and Lebanon extended the ceasefire by three weeks. But President Donald Trump stated that he wasn't in a hurry to reach an agreement with Iran. Ole Hansen, head commodity strategy at Saxo Bank, Copenhagen, said: "While the threat of an escalation via military conflict is reduced for the moment, the severity and...

The copper price fell from a?multi-week peak on Thursday due to the stalled U.S. Iran peace talks, the continued closure?of Strait of Hormuz as well as a stronger dollar. Benchmark three-month Copper on the London Metal Exchange fell 1.4% to $13,247 per metric ton during 'official open-outcry' trading after reaching its highest since February 27, at $13,481.50. No signs of a return to peace talks between Iran and the U.S. have emerged, while Iran has tightened the grip it holds on the Strait of Hormuz. This has sent oil prices over $100 per barrel. Standard Chartered's head of base-metals research,...

China's exports to Chile of sulphuric acids sank to zero in March according to Chinese 'customs' data. The world's largest 'copper-producing nation' is now facing a shortage of the chemical that's used to refine around half of it. China plans to ban exports of sulphuric acids from May, to avoid a shortage in its domestic market. This includes the fertilisers industry. The shipment of acid to Chile has already stopped. It was the biggest market for China's acid exports in 2025, and it accounted for almost one-third. Comparatively, China exported 31,870 tons of acid to Chile between February 2026, and...

The price of copper rose on Wednesday, as President Donald Trump extended a ceasefire agreement with Iran. However, lingering uncertainty over the Middle East conflict limited gains. In official open-outcry trade, the benchmark?three-month?copper price on London Metal Exchange rose 0.3% to $13,270 per metric tonne. This month, the renewed premium in Comex copper over the LME benchmark has been a key feature of the copper markets for 2025. It encourages shipments to the United States. More copper is expected to flow into the United States. While the premium price persists until the end of July, a decision will be expected...

Four sources familiar with the matter said that HSBC is hiring JPMorgan executive James Willis as its global precious metals sales director. Mark Augustynak, formerly of ICBC Standard Bank, was recruited by HSBC this month to lead its global metals trading division. HSBC is a market'maker' and a clearer on the London Over-the-Counter Market, where participants do not trade via an exchange but directly with one another. Each day, London clears 20 million troy-ounces of gold worth $96 billion at current prices. The appointments are part of a wider reshuffle in the trading and sales departments at major bullion bankers...

Copper prices fell on Monday as the Strait of Hormuz was closed again to marine traffic. A fragile ceasefire between Iran & the United States looked in danger, reigniting fears over the economic growth. In open-outcry official trading, the benchmark three-month 'copper' on the London Metal Exchange fell 0.8% to $13,235 per metric ton. Last week, the metal gained 3.9% on the optimism that the ceasefire would hold and Iran's announcement on Friday that commercial vessels could now enter the Strait. The?U.S. The?U.S. then seized a cargo ship from Iran that was trying to blockade the strait on its own....

The U.S. is hosting further discussions in the coming weeks for the Group 20 major economies about the impact of war in the Middle East on food and fertiliser, as they 'continue to push for coordinated actions. The U.S. will make this pledge in a statement by the chair of the G20. It will be made during a meeting between G20 finance minsters and central bankers held on April 16 at the Spring Meetings of the International Monetary Fund (IMF) and World Bank. Before its official release on Monday, a copy of the statement was released instead of a communiqué...

Aluminum prices dropped on Friday, after Iran's foreign minister announced that all commercial vessels could pass through the Strait of Hormuz for a period of time remaining in the ceasefire. Benchmark 'three-month' aluminium at the?London Metal Exchange was down by 2.6% to $3,549 per metric ton as of 1601 GMT. The reopening of Strait of Hormuz where navigation was largely suspended after U.S. and Israeli attacks against Iran began on 28 February improves prospects for exports of aluminium from the Gulf -region which account for approximately 9% of the global supply. The Strait is used by producers in the area...