Mining

Daimler Truck says rare earth supply concerns have led to more inventory building

Obstacles to the supply of key raw materials from China have prompted truckmaker Daimler Truck to increase its inventories in the short term, CEO Karin Radstrom told reporters after a conference in Gothenburg on Tuesday.Radstrom said the chip crisis during the Covid-19 pandemic had already shown that vehicle manufacturing could no longer rely as heavily on just-in-time deliveries.The German truck manufacturer had since increased its inventory levels, for example of semiconductors, even if this tied up more capital, she said.

Jun 17, 2025 - 3:33 PM

Gold mining companies in Ghana, Ivory Coast resist tax hikes

Gold miners operating in Ghana and Ivory Coast are refusing to comply with tax increases imposed this year, saying the new regulations flout their existing licence agreements, industry sources told Reuters.Countries across West Africa have been taking advantage of soaring gold prices to increase mining taxes and raise additional revenue to plug gaping budget deficits and ease high debt levels.

Jun 16, 2025 - 3:18 PM

Giyani Metals receives loan interest from US EXIM for Botswana manganese project

Giyani Metals said on Monday it had received a letter of interest from the Export-Import Bank of the United States (EXIM) for a loan of up to $225 million to help build its manganese project in Botswana.If approved, the loan will support the construction of Giyani’s K.Hill project, which will produce battery-grade manganese used in electric vehicles, the company said.The funding is part of the US effort to reduce its reliance on critical minerals from China.(By Sumit Saha; Editing by Shreya Biswas)

Jun 16, 2025 - 3:06 PM

Debswana to approach capital markets to fund Jwaneng underground project

Botswana’s Debswana Diamond Company is looking to international capital markets to help fund its $6 billion Jwaneng underground project, a director said on Monday, as dwindling revenues have limited its ability to finance capital projects.Despite the downturn in the global diamond market since the second half of 2023, the company is pressing ahead with its plan to prolong the lifespan of its flagship Jwaneng mine to 2054 by converting it into an underground operation, managing director Andrew Motsomi said at a mining conference in the capital Gaborone.

Jun 16, 2025 - 2:39 PM

Hudbay resumes operations in Snow Lake after evacuation orders lifted

Canada’s Hudbay Minerals said on Monday it has resumed operations at its Snow Lake mining site in Manitoba following the lifting of evacuation orders in the region.Manitoba declared a state of emergency late last month and urged thousands of people in northern and eastern parts of the province to evacuate, as wildfires spread in Central and Western Canada.The company in early June had temporarily suspended operations in Snow Lake that was close to the wildfires.

Jun 16, 2025 - 2:37 PM

Barrick Mining's gold complex placed under state control in Mali

BAMAKO, June 16 (Reuters) - Canada's Barrick Mining (ABX.TO), had its Loulo-Gounkoto gold complex in Mali placed under state control by a court on Monday in a major escalation of a dispute over taxes and ownership.A former Malian health minister, Soumana Makadji, will take over as provisional administrator for six months, the presiding judge said.Barrick said it will appeal the decision.

Jun 16, 2025 - 12:36 PM

US takes first step for potential mineral lease sale near American Samoa

The US Interior Department said on Thursday it was publishing a request for information and interest to explore the potential for seabed mineral leasing offshore American Samoa.The step will launch a 30-day public comment period and initiate formal action toward what could be the first mineral lease sale in federal waters in over 30 years, the department said in a statement.

Jun 13, 2025 - 2:02 PM

As global tumult grows, UK Plc’s stability and bargains appeal to dealmakers

More than $10 billion in bids for British companies announced on Monday, this year’s busiest day according to Dealogic data, showed how low valuations and the market’s relative stability were attracting rivals and funds after a volatility-induced pause.Companies may also be using the opportunity to enter the UK market before potential further weakening of the dollar or strengthening of the pound made future transactions more expensive, analysts said.

Jun 13, 2025 - 11:27 AM

Burkina Faso completes nationalization of five gold mining assets

Burkina Faso has completed the transfer of five gold mining assets to the country’s state-owned miner, according to a decree published late on Wednesday, finalizing a process that began in August to increase control over its mineral resources.Like its neighbours Mali and Niger, Burkina Faso is seeking to control a larger share of its resources after revising its mining code last year. It has established the Société de Participation Minière du Burkina (SOPAMIB) as a vehicle to own, manage and operate strategic mining assets.

Jun 12, 2025 - 4:42 PM

China to strengthen approval process of rare earth export applications

China will continue to strengthen the examination and approval process for rare earths export applications, a Chinese commerce ministry spokesperson said on Thursday.China is willing to further enhance communication and dialogue on export control with relevant countries, and promote the facilitation of compliant trade, ministry spokesperson He Yadong told a regular press conference.(Reporting by Beijing Newsroom; Editing by Christian Schmollinger)

Jun 12, 2025 - 1:51 PM

Mali hearing on Barrick’s Loulo-Gounkoto gold complex adjourned to June 16

A Malian court adjourned until June 16 a hearing on whether to put Barrick Mining’s gold mining complex, suspended since January due to a dispute over taxes and ownership, under provisional administration, a presiding judge said on Thursday.The Malian government, a shareholder in the Loulo-Gounkoto gold mining complex, in May asked the Bamako Commercial Court to appoint an administrator, signaling its desire to end the ongoing standoff and reopen the complex as global gold prices soar.

Jun 12, 2025 - 1:42 PM

Mining

Nippon Steel CEO sees no risk to management plans from US golden share

ArcelorMittal in talks over sale of Bosnia steel mill and iron ore mine

Rare earth access is the European Union’s priority at China summit

Peru copper output up nearly 8% in April

Future low-carbon materials projects need $1.6 trillion in funding, report says

Oklahoma strives to become American hub for critical minerals processing

US looks to impose fresh steel, aluminum tariff quota on UK

Mali starts construction of Russia-backed gold refinery

Hindustan Zinc approves $1.39 billion project

Daimler Truck says rare earth supply concerns have led to more inventory building

Gold mining companies in Ghana, Ivory Coast resist tax hikes

Giyani Metals receives loan interest from US EXIM for Botswana manganese project

Debswana to approach capital markets to fund Jwaneng underground project

Hudbay resumes operations in Snow Lake after evacuation orders lifted

Barrick Mining's gold complex placed under state control in Mali

US takes first step for potential mineral lease sale near American Samoa

As global tumult grows, UK Plc’s stability and bargains appeal to dealmakers

Burkina Faso completes nationalization of five gold mining assets

China to strengthen approval process of rare earth export applications

Mali hearing on Barrick’s Loulo-Gounkoto gold complex adjourned to June 16