Africa’s rare earths could make up 9% of global supply by 2029

African mines could account for nearly a 10th of the world’s rare earths in five years, climbing from zero today, creating new players in a market dominated by China.

CMOC to double copper output at Congo mines to 1 million tonnes by 2028

CMOC Group plans to more than double copper output from its mines in the Democratic Republic of Congo over the next four years, setting a new much higher target for the metal as future demand is seen strengthening.

China’s Plenum promises cues for commodity bulls and bears

Chinese commodities markets entered the second half with a bearish tilt, raising expectations that next week’s big policy meet in Beijing will show how the government plans to approach problems around overcapacity and faltering demand.

Sumitomo looks to tap US shale boom despite exiting production

Japanese trading firm Sumitomo Corp. sees opportunities in US shale oil and natural gas despite exiting production there three years ago.

Hedge funds’ bullish copper bets run into China’s slowdown

As copper surged to record highs last month, several senior Chinese traders started trying to contact western hedge fund managers whose names they’d only read in the press. For years, the veteran traders’ privileged insight into their own economy had given them an edge in the copper market, where China accounts for more than half of global demand.

US backs Angola plan to process critical minerals

The US is backing Angola’s efforts to diversify from being an oil-dependent economy to becoming a critical-minerals processor and exporter of clean power, according to a top official.

Serbia to give green light for Rio Tinto’s lithium mine

Serbian President Aleksandar Vucic is preparing to give Rio Tinto the green light to develop Europe’s largest lithium mine two years after Belgrade called off the project, the Financial Times said on Sunday.

Congo to buy out UAE partner in gold venture as shipments slump

Democratic Republic of Congo is finalizing a deal to take full control of a gold-export joint venture from its Emirati partner, after shipments slumped.

China’s central bank paused gold purchases in May after 18 months of buying

China’s central bank paused gold purchases to its reserves in May, when spot gold prices hit a record high, after 18 months of consecutive purchases, official data showed on Friday.

Zambia sees KoBold spending $2.3 billion on giant copper mine

KoBold Metals, the Bill Gates-backed mining exploration company, could spend $2.3 billion to build a major new copper mine in Zambia, President Hakainde Hichilema said, citing figures from the company.

Copper frenzy draws mining giants to Argentina after Milei’s reforms

Global mining heavyweights including Lundin Mining Corp., Glencore Plc and First Quantum Minerals Ltd. are piling into Argentina as a new government intent on luring foreign investment propels the companies closer than ever to opening up vast copper deposits in the red-hued Andes.

China’s central bank adds more gold to its reserves in April

China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, extending the period of consecutive purchases to 18 months despite high gold prices.

Anglo CEO meets South Africa mines minister after BHP’s takeover proposal

Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group’s $39 billion takeover bid, a source familiar with the matter told Reuters.

National self-sufficiency in rail industry is ESCO’s achievement

Mining News Pro - Mehdi Kuhi, CEO of Zob Ahan, Isfahan held a press conference with the media at the 11th International Exhibition of Rail Transportation, Equipment and Related Services, in May.

BHP targets Anglo American in bid valued at $39 billion

BHP Group Ltd. proposed a takeover of Anglo American Plc that values the smaller miner at £31.1 billion ($38.8 billion), in a deal that would catapult the combined company’s copper production far beyond its rivals while sparking the biggest shakeup in the industry in over a decade.

Airbus wins reprieve from Canadian sanctions on Russian titanium

Canada has granted Airbus a waiver to allow it to use Russian titanium in its manufacturing after becoming the first Western government to ban supplies of the strategic metal in the latest package of measures triggered by the war in Ukraine.

30% jump in rail production in Esfahan Steel Company

Mining News Pro - The CEO of Isfahan Zob Ahan said: “ESCO is the only rail producer in West Asia and supplies rails for all rail projects in the country, including intercity railway lines and metropolitan metros.”

Polish government drops coal merger idea

Polish government is abandoning plans to separate coal-fired power plants into a special company and is considering merging them with mines, said Industry Minister Marzena Czarnecka in a interview published on Wednesday in Rzeczpospolita daily.

Adani kicks off $1.2 billion Indian copper smelter

Indian billionaire Gautam Adani has started operating the first unit of his $1.2 billion copper smelter, the tycoon’s first foray into metals refining.

Chinese miners eye overseas deals after battery metals slump

Battery metal prices are on the floor, and massive expansions by Chinese miners have been instrumental in driving them lower. Now, with many Western rivals cutting output or shutting down entirely, they want to get even bigger.

Iron ore price edges higher on hopes of China’s demand recovery

Iron ore futures edged higher on Monday, supported by hopes of further recovery in demand in top consumer China and Beijing’s pledge to support its struggling property market.

Iron ore hit by fresh selling as traders fret over China demand

Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese demand. Base metals also fell.

Africa to play ‘huge role’ in US critical mineral strategy, says Treasury’s No. 2

The United States is looking to Africa to help loosen a Chinese stranglehold on battery metals and reduce Russia’s influence over the market for other minerals, US Deputy Treasury Secretary Wally Adeyemo said on Thursday.

Gold output falls in Burkina Faso as terrorist attacks increase

Gold production in Burkina Faso declined last year as deteriorating security conditions in the West African nation forced some mines to shut.

Oil and gas upstream M&A deal value hits highest Q1 levels since 2017

An ongoing consolidation in the US shale industry has driven up global M&A deal value in the oil and gas exploration sector to its highest first-quarter level in seven years, industry experts said.

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