Copper retreats from near-record high as rate fears lift dollar
INDUSTRIAL metals fell on Wednesday as traders weighed the outlook for US interest rates against shifting oil prices, Bloomberg reported. Copper retreated from near-record levels…
Glencore in talks with Guinea on alumina, energy
GUINEA is in talks with Glencore over possible investments in alumina refining and energy after the two sides struck a bauxite deal last week, Reuters reported. State-owned Nimba…
Rio Tinto to buy Glencore bauxite project
RIO Tinto has agreed to buy the Aurukun bauxite project in Queensland from Glencore and Mitsubishi Development for an undisclosed sum, Bloomberg reported. The project is close to…
Zinc extends rally as supply squeeze bites
ZINC climbed to its highest level in more than four years as supply disruptions tightened the market, Bloomberg reported. The metal, used mainly to galvanise steel, rose as much…
South32 profits surge as reshaped portfolio delivers
South32 cracked it in the year to end-June more than doubling operating profit from continuing operations and declaring a 5.4 US cents final dividend which boosted the total…
Australia’s largest aluminium smelter secures power to 2038
Tomago Aluminium has secured electricity supply through 2038 under an agreement with the Australian and New South Wales governments. Power for Australia’s largest aluminium…
Metals of war: why US Govt has weaponised mining
Eighteen mining companies went public in the past 12 months with one aim in common: an ambition to supply the US government’s defence industry. Assisted by US President Donald…
Rio Tinto unlikely to revive Glencore talks
A STANDSTILL preventing Rio Tinto from approaching Glencore about a takeover expires this week, but those briefed by senior executives do not expect renewed merger talks soon,…
South32’s long road from ‘crapco’ to copper
MATT Daley, the Australian-born CEO of South32, takes over a company far simpler in structure than the demerged assets bequeathed to his compatriot, Graham Kerr. When Kerr made…
US to ease aluminium tariffs for smelter investment
THE US is planning to lower aluminium tariffs for companies that invest in domestic smelting capacity as part of a broader push to wean the country’s defence manufacturers off…
South32-Alcoa deal exposes beneficiation myth
THERE are few words in South African economic policy more seductive than “beneficiation”. It has everything: moral uplift, industrial ambition, a pleasingly muscular rhythm and…
Mining’s slow burn exposure to Middle East conflict
THE memorandum of understanding (MoU) signed between the US and Iran appears to have brought a relative calm to the Middle East, the occasional conflagration in the Strait of…
South32 waiting for IDC to play hand in Mozal sale
SOUTH32 is waiting for firm proposals from minority shareholders in Mozal Aluminium before progressing recently hatched plans to sell the 370,000 ton a year Mozambique smelter.…
South32 to sell aluminium assets to Alcoa for $4.1bn
SOUTH32 is to sell its aluminium assets, including South Africa’s Hillside facilities but excluding the shuttered Mozal Aluminium in Mozambique, to Canada’s Alcoa for $4.1bn in…
Rio Tinto sees lithium as fastest-growing division
RIO Tinto expects its lithium business to outpace all other divisions as the mining giant works to triple output by 2028 to meet rising demand from electric vehicle and battery…
South32 looking at “various options” with Mozal stake
SOUTH32 said on Monday it was considering its options with respect to its 63.7% stake in the Mozal aluminium smelter in Mozambique amid speculation South Africa’s Industrial…
Iran war tightens industrial metals supply outlook
A MAJOR squeeze is emerging across industrial metals markets as the ongoing US-Israeli war against Iran compounds structural supply shortfalls, said the Financial Times on…
Tin price defies supply reality on scarcity narrative
TIN is trading close to all-time highs despite improving supply conditions, as speculative investors continue to price in long-term scarcity fears rather than near-term market…
Chinese lab-grown diamonds ride AI wave
LAB-grown diamonds, long synonymous with jewellery, are finding an unexpected second market as cooling components in artificial intelligence semiconductors, driving sharp share…
Guinea unveils plan to curb bauxite exports after surge
GUINEA is to announce reforms next month aimed at restricting exports of bauxite, Bloomberg News reported on Monday. This comes after a surge in shipments from Guinea – which is…