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Local media reports that Indonesian mines can produce 25% of the proposed output for 2026 in Q1, while applications are being assessed.
According to a letter from the Indonesian mining ministry, miners can produce 25 percent of the output they plan for '2026 in the first three months while the government processes the annual production quotas, according to a report by a local media outlet, Bisnis.com, on Monday. To determine?how much production they can produce each year, all miners in Indonesia, which is rich in minerals, are required to submit a RKAB (annual production plan) to the government. Indonesia has reduced the validity of RKABs to one year, starting in 2026. The government has also ordered that miners reapply for the quotas issued for 2026 and 207. According to regulations published by the ministerial in October, during the approval process for the new quota, the miners can refer to the previously approved quota of 2026 until the end March 2026 when deciding how much they will produce. Nickel miner Vale Indonesia announced on Friday that they were suspending their mining activities because the RKAB was not yet approved. Yuliot Tanjung, deputy mining minister, said that approvals are "currently being consolidated" and the nickel output quota will be adjusted to match demand from domestic smelters. Mining Minister?Bahlil?Lahadalia said that the government would cut mining output quotas in order to boost prices. This includes coal prices which have been stagnant. (Reporting and editing by Fransiska Nanangoy, Bernadette Cristina Munthe)
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China's Iron Ore Starts New Year Higher on Strong Demand and Tight Supplies
China's Iron Ore Futures rose in the first trading session of the New Year on Monday. Strong?demand and supply constraints supported the rise. The May contract for iron ore on the Dalian Commodity Exchange gained 7.5 Yuan or 0.95% to 797 Yuan ($114.16). After the New Year's?holiday, Chinese markets resumed their trading. The benchmark iron ore contract for February on the Singapore Exchange rose 0.29% at $105.65 per ton by 0704 GMT. Steelmakers are restocking iron ore ahead of the Lunar New Year holiday, which is in February. Tight domestic supplies also support prices. According to a report from the?Shanghai Metals Market, several mines have limited production due to environmental measures. Mysteel, a consultancy, reported that stocks of five major carbon products held by Chinese?mills dropped 1.1% on a weekly basis to 3.81 millions tonnes between December 26 and 31. The DCE also saw a decline in other steelmaking ingredients, including coke and?coking?coal. The SHFE steel benchmarks were mixed. Rebar fell by 0.74%; hot-rolled coils dropped by 0.79%, and stainless steel was down 0.23%. Wire rod, meanwhile, gained 4.93%.
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Chinese, South Korean companies sign nine cooperation agreements
Chinese and South Korean firms signed nine agreements of cooperation,?authorities announced on Monday. This was during a visit to Beijing by South Korean 'President Xi Jinping with Chinese President Lee Jae Myung, their second encounter in only two months. Lee's first visit to China is his first since taking office in June. It comes at a time of escalating global tensions following the North Korean launch of ballistic missiles, and the U.S. strike on Venezuela. Analysts say that the unusually short time between Xi's and Lee's meeting shows 'China's keen desire to boost economic collaboration and tourism, as its relationship with Japan has sunk 'to its lowest point for years'. The South Korean Trade Ministry announced nine agreements on Monday, stating that?Alibaba International and South Korean retailer Shinsegae are among the companies who signed deals. Lee arrived in South Korea for his four-day visit on Sunday. He was accompanied by a delegation of over 200 business leaders, including Samsung Electronics Chairman 'Jay Y. Lee', SK Group Chairman Chey Tae-won and Hyundai Motor Group Executive Chairman Euisun Chung. Lee wants to promote peace on Korean Peninsula. However, his visit to Beijing coincides with the North Korean test firing hypersonic missiles, and Kim Jong Un's citing of Pyongyang needing to maintain a strong nuclear deterrent. Lee stated that South Korea and China should expand their economic cooperation on artificial intelligence and also in consumer products such as beauty, household goods, food, and cultural content like movies, music and games. Kang Hoon -sik, South Korean Chief of Staff to the President, said that Beijing is unlikely to lift their unofficial ban against Korean culture any time soon. China's state-run broadcaster CCTV reported that Lee's visit will include a discussion on supply chain investments, digital economies, and cultural exchanges. As China and Japan negotiate a diplomatic spat, South Korea's and Beijing’s relations have warmed. Beijing was "incensed" when Japanese Prime Minister Sanae Takayichi suggested, in November, that Tokyo could take military actions if Beijing attacked Taiwan. Taiwan rejects China's claim that the island is itss.
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Gold prices surge as demand for safe-havens increases due to the US arrest of Venezuela's president
Gold and other precious metals prices rose on Monday, following the capture of Venezuelan President Nicolas Maduro by the United States over the weekend, which exacerbated geopolitical tensions. Gold spot rose by 2.2% at 0742 GMT to $4,424.17 an ounce. This is a new weekly high. U.S. Gold Futures for Delivery in February rose 2.4% to $4434.20. Tim Waterer is the chief market analyst at KCM Trade. He said that kidnapping a foreign leader of state leads to a high degree of uncertainty. Gold and silver are seen as a good hedge against this. The U.S. captured Maduro on?Saturday in an attack that Washington's most controversial Latin American intervention since the?invasion of Panama 37 year ago. Vice President Delcy Rodriguez, who has been appointed interim leader, said that Maduro "remains" president. The 'bullion's' 64% gain last year was the biggest since 1979. This is due to geopolitical tensions combined with central bank purchases, interest rate reductions and inflows into ETFs. The record high was $4,549.71, which occurred on December 26, 2025. Anna Paulson, President of the Federal Reserve Bank of Philadelphia, said on Saturday further rate reductions could be a long way off following an active campaign of ease last year. Investors still expect at least two Fed rate reductions this year. Waterer said that investors will be looking at the non-farm payroll figures, due on Friday, to get more clues about potential Fed rate cuts. Non-yielding investments tend to perform well when interest rates are low and there is uncertainty in the geopolitical or economic arena. After hitting an all time high of $83.62 per ounce on December 29, spot silver rose 3.9% to $75.50. The metal finished the year with a record 147% increase. Silver's price soared?to new highs last year due to its designation as an important U.S. Mineral and supply constraints due to?increased industrial and investment demands. After reaching a record high of $2.478.50 per ounce on Monday, spot platinum increased 3.9% to reach $2,226.24 an ounce. Early Asia hours saw it rise more than 5% to a new high. Palladium climbed 1.6% to $1,664.40 per ounce.
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India's palm oil imports in December fell to an 8-month low due to weak demand
Five dealers report that India's palm oils imports dropped to an 8-month low in the month of December. This was due to a weaker winter season and refiners increasing their purchases of competing oils like soyoil or sunflower oil. Reduced palm oil imports by?India, which is the world's biggest buyer of vegetable oil, could increase inventories in top producing countries Indonesia and Malaysia. This would weigh on benchmark Malaysian Palm Oil Futures while supporting U.S. Soyoil Futures. According to dealers, palm oil imports dropped 20% in December, to 507,000 tons, the lowest level since April 2025. Dealer estimates show that soyoil exports jumped 37%, to 508,000 tonnes, while sunflower oil imports more-than-doubled, to 350,000 tons. Estimates show that India's total edible oil imports rose by 19% in December compared to the previous month, reaching a new three-month record of 1,37 million?tons. This was due to an increase in soyoil imports and sunflower oil. They said that the import numbers exclude duty-free shipments?that arrived via land border from Nepal. The Solvent Extractors' Association of India said that India imported approximately 632,000 tonnes of palm oil per month in the marketing year ending October 2025. It plans to publish its December data by mid-January. The demand for palm oil has remained low due to the winter season and increased availability of domestic edible oil such as cottonseed, groundnut, and soya oil. India's palm?imports are usually moderated during winter, when the tropical oil becomes solidified at lower temperatures. This limits its use in the northern parts of the country. India imports a lot of palm oil, mainly from Indonesia and Malaysia. It also imports sunflower oil and soyoil from Argentina, Brazil and Ukraine. Sandeep Bajoria is the chief executive officer of Sunvin Group. A vegetable oil brokerage firm and consultancy.
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Trump's Venezuela gamble tests investors' appetite for geopolitical risks
Investors warn that the geopolitical risk may be underestimated by markets after Donald Trump threatened to take further action in America. After President Trump announced that the U.S. will take over the oil-producing nation, investors held their nerve, despite oil prices falling modestly. Gold prices rose, however, due to safe-haven flows. Trump's threats towards Colombia and Mexico, while Washington hasn't made such an aggressive intervention in Latin America since 1989 when it invaded Panama, highlighted the aggressive change in U.S. policies and brought geopolitical risks to the forefront for financial markets in the beginning of the year. Vishnu Varathan is the head of Asia Ex-Japan macro research at Mizuho Securities, Singapore. The question is: Is the stability of LatAm as a whole at risk? It's then a completely different proposition, isn't? The flow-through effect and all could even be greater." Analysts and investors stated that the calm market response to Maduro’s capture was because Venezuela's oil output relative to global production is small, and it would take many years of investment to catch up. The impact of the military action on the sentiment will be far-reaching, but it could also unlock Venezuela's vast reserves of oil and boost risk assets in the long-term. Trump said that American oil companies were ready to take on the difficult task of entering Venezuela to invest in order to restore production. Tai Hui is the chief market strategist at J.P. Morgan Asset Management for Asia-Pacific. He said that this event should have broader geopolitical ramifications. However, he believes that financial markets do not price such risks very accurately. First test of the Markets in 2026 The U.S. stock market and the global markets have made a rapid start to 2019 after finishing 2025 at record highs. They had notched double-digit increases in a turbulent year marked by tariff wars and central bank policy, as well as simmering geopolitical conflicts. As a result of Trump's willingness to use U.S. force in support of his policy agenda, the immediate impact will be felt in the?defence sector. Analysts say that the increased uncertainty surrounding U.S. policy will also weigh on the dollar's safe-haven status. The U.S. Dollar firmed up a little on Monday, but it is coming off of its worst year in 2017. It will drop?over 9 percent against major currencies by 2025. Investors are also concerned about the implications of Trump's actions on Venezuela for China's stance towards Taiwan, and if Washington will be more aggressive in its efforts to change regimes in Iran. Li Fang-kuo is the chairman of Taiwan's Uni-President Stock Investment Advisory Unit. He said that investors do not have to worry about China?attacking Taiwan. "Yes, China conducted military exercises around Taiwan. But we haven't seen anything like the months-long escalation that we witnessed from the U.S. against Venezuela." Some analysts claim that investors are becoming accustomed to Trump's foreign policy and military strategies. Charu Chanana is the chief investment strategist for Saxo. He said that the U.S. actions in Venezuela are more of a geopolitical shock than an oil scare at this time. Investors tend to return to rates, earnings and positioning unless the action threatens the supply chain. "We are in a regime that is dominated by geopolitics, and this is not surprising." (Reporting from Ankur Banerjee in Singapore, Rae Wee in Taipei and Gregor Stuart Hunter; Additional reporting from Faith Hung)
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Maduro to face charges of narcoterrorism in US court
Nicolas Maduro, the ousted Venezuelan president, is scheduled to appear at Manhattan federal court Monday to face narcoterrorism charges. His capture by U.S. forces has sparked uncertainty over the future of the oil-rich South American country. Maduro and his wife Cilia Flores were arrested in Brooklyn by U.S. troops after they were seized from Caracas during a surprise weekend raid. Both are expected to appear before U.S. district judge Alvin K. Hellerstein at 12:00 noon EST (1700 GMT) for the hearing. It's unclear whether either of them has hired a lawyer or will enter a plea. Since Maduro declared victory in an election that was marred by accusations of massive irregularities, the U.S. has considered him to be an illegitimate leader. Washington's capture of Maduro marks the most controversial intervention it has made in Latin America since its invasion of Panama 37 year ago. The prosecution claims that Maduro was the leader of a cartel made up of Venezuelan politicians and military leaders who conspired with drug trafficking organizations and terrorist groups designated by the United States to flood the U.S. for years with thousands of tonnes of cocaine. Maduro's first indictment was in 2020, as part of an ongoing narcotics case against former and current Venezuelan officials. In a newly unsealed indictment, prosecutors claim that Maduro personally supervised a state sponsored cocaine trafficking network, which partnered with the most violent and prolific drug-trafficking groups around the world, including Mexico's Sinaloa cartel, Colombia's paramilitary FARC, and Venezuela's Tren de Aragua gang. Indictment: "As Venezuela's president and de-facto leader, Maduro permits cocaine-fueled corrupt to flourish to his benefit, to that of'members of the ruling regime' and to benefit his family." Maduro faces charges of narcoterrorism, cocaine importation conspiracy and possession of destructive devices and machine guns. He is also charged with conspiracy to possess destructive devices and machine guns. If convicted, he faces a sentence of up to 30 years in prison for each charge. The prosecution claims that Maduro was involved in drug trafficking since 2000, when he was elected to the Venezuelan National Assembly. He also allegedly participated in it during his time as Foreign Minister from 2006 until 2013, and even after he became the successor to the late President Hugo Chavez in 2013. Indictment states that Maduro, while serving as Venezuela's foreign minister, sold diplomatic passports and arranged for diplomatic cover to flights carrying drug proceeds from Mexico into Venezuela. Prosecutors say that from?2004-2015, Maduro used state-sponsored criminal groups to traffic cocaine seized by Venezuelan officials and ordered kidnappings. They also claimed to have ordered murders, beatings, and other crimes to protect operations and collect debts. The prosecution claims that Maduro, as president, directed the cocaine trafficking routes and used military protection to protect the shipments. He also sheltered violent trafficking gangs and used presidential facilities for drug trafficking. Indictment: The indictment gives an example of a month after Maduro's swearing-in in April 2013 when he allegedly instructed top coconspirators to find a new route for smuggling in order to replace a French authority discovered one. Maduro authorized the arrest of low-level officials in the military to divert blame, according to prosecutors. Legal experts say that prosecutors must show evidence of Maduro’s direct involvement in drug trafficking for a conviction. This could be difficult if Maduro shields himself from decisions. Maduro has ruled Venezuela for over 12 years with a heavy hand, presidening over severe economic and social crisis and resisting the pressure of domestic opponents and foreign government for political change. Maduro was captured after a long-term pressure campaign from Trump. He authorized U.S. troops to seize ships suspected of transporting Venezuelan oil sanctioned by the United Nations and to launch missile attacks on small boats believed to be carrying drugs. International law experts have questioned whether the raid was legal. Some criticize Trump's actions for being a rejection of an international order based on rules. The U.N. Security Council is scheduled to meet Monday to discuss the U.S. strike, which Secretary General Antonio Guterres called a dangerous precedent. Russia and China have both criticized the U.S., as they are major supporters of Venezuela.
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Investors assess Venezuela's upheaval by assessing the oil price and stock market.
Asian stocks rose on Monday as AI-related themes were?infocus at the beginning of the first trading week of this year. Oil prices fell on the belief that U.S. military action in Venezuela was unlikely to disrupt an energy market well-supplied. MSCI's broadest Asia-Pacific share index outside Japan rose by?1.4%, reaching a new record high. S&P 500 futures also gained 0.2% as investors scanned the geopolitical landscape ahead of an upcoming week packed with economic data. Investors are assessing what the impact of the dramatic weekend will be. The U.S. had captured Venezuelan president Nicolas Maduro, and U.S. Donald Trump announced that he would temporarily take control of the South American country. Trump told reporters Sunday that he would order a second strike if Venezuela did not cooperate with U.S. efforts in opening up its oil industry or stopping drug trafficking. He also threatened to take military action in Colombia and Mexico. Neil Shearing is the group chief economist at Capital Economics. He said that the removal of Venezuelan president Nicolas Maduro from office by the U.S. will not have any significant economic effects on the global economy in the near future. "But its geopolitical and political ramifications are likely to reverberate." Brent crude futures fluctuated between gains and losses. The last drop was 0.7% to $60.33, as oil markets assessed how the U.S.' intervention in Venezuela would impact oil prices and the vote of OPEC+ Sunday night to maintain oil production at the same level. David Chao is the global market strategist at Invesco, Singapore. He said that Asia's market reaction was muted. Investors largely ignored weekend developments. In North Asia, the focus is firmly on the structural benefits of rising AI investment. This outweighs geopolitical worries. The Nikkei rose more than 3.3% among regional share markets to reach a near-record high, reached just two months ago. This was the first day of trading after the New Year. Data showed that manufacturing activity in Japan stabilised in December. This ended a five-month trend of decline. Seoul's Kospi, and Taiwan both climbed by more than 3% each to reach new record highs. Goldman Sachs analysts wrote in a recent research note that the AI investment boom, particularly from the United States has been a boon to top-line growth in Taiwan, and to a lesser degree Korea. "In Taiwan, between 5-10 cents per dollar of U.S. AI investments are invested... the remainder is largely sent to Asia with TSMC as the largest supplier." The Chinese markets were a bit more subdued, with the Hang Seng Index trading at a flat rate, as Chinese oil companies weighed down a measure of Hong Kong listed energy stocks, which fell 3%. Australian shares were flat, with gains from major miners countering declines by the top energy companies. Vasu Menon is the managing director of investment strategy for OCBC Singapore. He said that the strategic calculations were taking place against a backdrop of midterm elections, and that developments would be unpredictable. This uncertainty could support oil prices. "A more volatile geopolitical climate may boost haven assets such as precious metals." DAX Futures in Germany were up by 0.5% and FTSE Futures were up by 0.6%. The U.S. Dollar Index, which measures the strength of the greenback against a basket six currencies, rose 0.2% to 98.746, continuing recent gains for a sixth day in a row. The dollar rose 0.3% against the yen to a new two-week high. It was last traded at 157.21 yen. Kazuo Ueda, the Governor of the Bank of Japan, said that if prices and economic conditions continue to move in accordance with their forecasts then they will continue to increase interest rates. The yield of the 10-year Treasury Bond in the United States was up by 0.8 basis points to 4.179%. Gold gained 2%, trading at $4413.93 due to the increased demand for safe-haven assets. Bitcoin rose by 1.3% to $92,393.99 and ether rose 0.3% to $3,153.41. (Reporting and editing by Muralikumar Anatharaman and Shri Navaratnam; Reporting by Gregor Stuart Hunter)
Van Oord Expands its Trencher Fleet
Dutch offshore installation firm Van Oord has introduced Jet-It as the latest unit to join its trencher fleet, following the completion of a test campaign in the North Sea.
Building on the expertise gained from its previous trenchers, Dig-It and Deep Dig-It, Van Oord has developed another trencher dubbed Jet-It.
With the addition of the latest unit, Van Oord now operates three trenchers, all designed for the purpose of cable burial.
While Dig-It and Deep Dig-It feature mechanical cutting and jetting technology, the Jet-It is equipped with jetting technology only.
According to Van Oord, it boasts an efficiently designed system which uses high-pressure water to fluidize the substrate and create a trench.
“Each trencher in our fleet has its own strengths, allowing us to tailor our approach to soil conditions, trench depth, and project requirements. With the arrival of Jet-It, we can offer even greater efficiency in subsea cable installation,” Vann Oord said on social media.
It is said to be ideally suited for the burial of inter-array and export cables in sandy and light clay soils.
With two high-pressure, frequency-driven water pumps, it is capable of trenching to depths of up to 3 meters. Multiple integrated sensors enable the trencher to operate at high speed with great precision.
Designed for fast mobilization, the Jet-It can be deployed on any vessel in a single lift, Van Oord said.