mining

Copper hits fresh all-time high before retreating as squeeze eases

Copper futures surged to a fresh all-time high on Tuesday before pulling back sharply on Wednesday as a weeks-long market squeeze showed signs of loosening, capping a rally that has lifted mining earnings across the sector.

U.S. holds 70% of global exchange copper as supply squeeze deepens

Copper prices have pulled back from a record high of $14,334 per metric ton reached on August 10, but analysts at Sprott Asset Management and Saxo Bank say the retreat is a correction within a deeper structural tightening that shows…

BHP profit jumps 30% as copper overtakes iron ore

BHP Group reported a 30% surge in full-year underlying profit to $13.20 billion, beating analyst estimates and declaring its highest annual dividend in four years, as record copper prices cemented the red metal's dominance over iron ore as the mining…

Codelco abandons 2026 copper production target as setbacks mount

Chile's state-owned copper miner Codelco is effectively abandoning its plan to produce 1.34 million metric tons of copper this year, shifting its focus toward profitability and debt reduction as operational setbacks continue to mount, Bloomberg reported on Wednesday.

Congo bans copper, cobalt concentrate exports

The Democratic Republic of Congo has banned exports of copper and cobalt concentrates in what Reuters described as "a major escalation of its drive to force domestic processing and retain more value from its vast mineral resources."

Copper hits record high as Congo bans concentrate exports

Copper prices surged to fresh record highs on Thursday after Reuters reported that the Democratic Republic of Congo has banned exports of copper and cobalt concentrates, adding to a cascade of supply disruptions that have propelled the metal more than…

Gold miners surge as bullion reclaims $4,300 level

Gold mining stocks posted their strongest single-session gains in months on Wednesday as bullion prices extended a two-day rally that has reclaimed much of the ground lost during the summer selloff, with gold futures swinging back above $4,300 per troy…

Australian, European stocks hit record highs as miners surge

Global equity markets rallied to fresh records on Wednesday as easing tensions over the Iran war and falling oil prices lifted investor sentiment across the Asia-Pacific and Europe. Australia's S&P/ASX 200 spiked as much as 0.7% to a new all-time…

Copper hits record high on tariff bets, supply crunch

Copper futures surged to a fresh all-time high on Wednesday, as speculation over US tariffs on imports and tightening global supplies drove the industrial metal to its best levels ever recorded on the Comex exchange.

Glencore profits surge, miner targets ASX listing in October

Glencore reported an 86% jump in first-half adjusted earnings on Wednesday, powered by its commodity trading arm capitalizing on energy market volatility triggered by the Middle East conflict, and announced plans for a secondary listing on the Australian Securities Exchange…

Chile posts weakest Q2 copper output in 19 years

Chile registered its weakest second-quarter copper production in data going back to 2007, with output falling 7.7% year-on-year to 1.27 million metric tons, according to calculations based on monthly data published Friday by the country's statistics bureau. The figures underscore…

Copper surges toward record high as supply squeeze lifts mining stocks

Copper futures jumped as much as 2.9% on Thursday, driven by mounting evidence of physical market tightness and relief that the U.S. Federal Reserve held interest rates steady, pushing the metal within striking distance of its record high and sending…

Study finds thousands of tons of undeclared uranium exported from Congo via cobalt shipments

Between 2,000 and 5,000 metric tons of uranium have been extracted and exported from the Democratic Republic of the Congo over the past two decades without being declared to international nuclear authorities, according to a study published Thursday in Nature…

Glencore, Rio Tinto post bumper H1 results amid commodity boom

Two of the world's largest mining companies reported robust first-half results on Wednesday, buoyed by elevated commodity prices, rising production, and extreme market volatility tied to the ongoing conflict in the Middle East.

Anglo American in talks to sell De Beers for about $1B

Anglo American is in discussions to sell its De Beers diamond business for approximately $1 billion, according to Bloomberg, a price that underscores how far the world's largest diamond miner has fallen in value amid a prolonged industry crisis.

Rio Tinto profit jumps 47% as copper revenues surge

Rio Tinto on Wednesday reported its highest half-year profit in four years, with net earnings rising 47% to $6.7 billion for the six months ended June 30, driven by surging copper revenues and higher production across its key commodities.

Chile unveils $100 billion copper plan to diversify beyond China

Chilean Foreign Affairs Minister Francisco Pérez Mackenna announced on Wednesday that Chile aims to attract roughly US$100 billion in copper industry investments over the next decade, as the world's largest copper producer seeks to reduce its dependence on China and…

Congo Ebola death toll hits 930 as outbreak accelerates

The death toll from the Democratic Republic of Congo's Ebola outbreak has reached at least 930, with 2,344 confirmed cases as of Saturday, Congo's Ministry of Health announced Monday, as escalating U.S. and Congolese travel restrictions draw warnings from aid…

Congo plans first stock exchange to tap AI mineral boom

The Democratic Republic of Congo is developing plans for its first-ever stock exchange, seeking to channel growing global appetite for critical minerals tied to artificial intelligence infrastructure into broader investment in the Central African nation's economy.

Alcoa to buy South32’s aluminum assets for $4.1B

Alcoa announced on Tuesday a definitive agreement to acquire South32's bauxite, alumina, and aluminum operations in a deal valued at $4.1 billion in cash and stock, with an implied enterprise value of approximately $4.7 billion including net debt.

Gold miners fall as bullion slides toward $4,000

Shares of major gold mining companies declined Monday as spot gold extended its weeks-long retreat, falling toward the $4,000-per-ounce level amid growing expectations that the Federal Reserve will raise interest rates before year-end.

Lithium prices plunge as CATL nears restart of key mine

Lithium carbonate futures in China tumbled after the Jiangxi Provincial Department of Natural Resources confirmed that CATL Contemporary Amperex Technology Co., Limited had secured a renewed land use approval for its Jianxiawo lithium mine, one of the world's largest lithium…

Blast at explosives storage site kills dozens in Myanmar

An explosion at a building storing mining explosives in northeastern Myanmar killed at least 46 people on Sunday, including six children, with local media reporting death tolls as high as 55. About 70 others were injured in the blast, which…

Bolivian miners clash with police in La Paz, demand president’s resignation

Explosions rocked Bolivia's administrative capital on Thursday as mining groups marched through La Paz and clashed violently with police while demanding the resignation of President Rodrigo Paz, Reuters reported. Witnesses observed protesters hurling what appeared to be sticks of dynamite…