Mining

Congo-Rwanda draft deal outlines role of US, others in revamp of minerals sector

Rwanda and the Democratic Republic of Congo will commit to working with third parties, including the US, to revamp their mineral supply chains and develop reforms, according to a draft of an economic framework seen by Reuters, as they seek to spur investment following a peace deal reached in Washington.The countries agreed on the draft framework, which is part of the peace deal, a source familiar with the matter said, adding that the draft was now being discussed by stakeholders, including the private sector, multilateral banks, and some donor agencies of other countries.

Sep 15, 2025 - 3:15 PM

Canada names gas plant, port, mines as major projects to be sped up

Canada named five major projects on Thursday it said would be eligible for fast-track approvals as part of a campaign to diversify the economy and reduce reliance on the United States as tariffs bite.The government of Mark Carney, frustrated by a complex process that means it can take companies a decade or more to obtain approval for a mine or a pipeline, has set up a major projects office designed to slash red tape.

Sep 12, 2025 - 3:42 PM

Norway’s sovereign wealth fund excludes Eramet from portfolio on ethics grounds

Norway’s sovereign wealth fund has excluded French mining group Eramet from its portfolio on ethical grounds, a spokesperson for the fund’s operator, Norges Bank Investment Management (NBIM), said on Friday.The fund held a 0.44% stake in Eramet worth $6.8 million as of June 30, according to fund data.The divestment was made on the recommendation of the fund’s ethics watchdog, the Council on Ethics, due to Eramet’s role as operator of Indonesia’s PT Weda Bay Nickel joint venture mine.

Sep 12, 2025 - 3:41 PM

UBS gold price target raised to $3,800 by year-end

UBS raised its gold price forecast on Friday by $300 to $3,800 per ounce by the end of 2025, and by $200 to $3,900 by mid-2026, citing anticipated Federal Reserve easing and US dollar weakness linked to rate cuts and geopolitical risks.The Swiss bank also revised its estimate for gold exchange-traded fund holdings, projecting levels to exceed 3,900 metric tons by the end of 2025, approaching the previous record of 3,915 tons set in October 2020.

Sep 12, 2025 - 3:40 PM

Indonesia cites lack of forestry permits in land seizures from nickel miners

An Indonesian task force has seized plots spanning hundreds of acres from miners PT Weda Bay Nickel and PT Tonia Mitra Sejahtera for lack of relevant forestry permits, officials said on Friday.The world’s largest producer of nickel products is cracking down on illegal exploitation of natural resources, with President Prabowo Subianto saying last week that more than 1,000 such mining operations were identified.The crackdown boosted nickel prices, with benchmark three-month nickel on the London Metal Exchange up 1.32% at $15,350 a metric ton by 0801 GMT.

Sep 12, 2025 - 3:39 PM

Newmont applies for voluntary delisting from Toronto Stock Exchange

Newmont has applied for a voluntary delisting of its common shares from the Toronto Stock Exchange due to low trading volumes, the world’s top gold miner said on Wednesday.The move, expected to be effective on or about the close of trading September 24, is likely to improve the administrative efficiency and reduce costs.Bloomberg News reported in August that Newmont has set a target of reducing costs by $300 per ounce, which could lead to thousands of layoffs.

Sep 11, 2025 - 2:43 PM

Codelco and BHP’s Escondida boost copper output in July

Chile’s state-owned Codelco, the world’s largest copper producer, and BHP’s Escondida mine both posted year-on-year increases in production in July, data from copper commission Cochilco showed on Thursday.Codelco’s production rose to 6.4% 118,500 metric tons while Escondida, the world’s largest copper mine, saw a 7.8% increase to 114,800 tons.Collahuasi, a major copper mine jointly run by Glencore and Anglo American, saw output drop 27.2% to 34,200 tons.(By Fabian Cambero; Editing by Sarah Morland)

Sep 11, 2025 - 2:39 PM

Fatalities rise among gold miners in 2024, Metals Focus reports

Fatalities reported by gold mining companies rose last year, reversing a recent downward trend, according to a report published by precious metals consultancy, Metals Focus on Thursday.Eight out of the 14 companies in the report recorded a combined 27 fatalities at mine sites in 2024, up from 24 in 2023.Mining remains an inherently hazardous industry, with workers facing long-term health issues from noise, vibration and airborne particulates, Metals Focus noted in the report.

Sep 11, 2025 - 2:31 PM

Namibia to boost sulphuric acid production as critical mineral output rises

Namibia is set to increase its sulphuric acid production in response to rising critical mineral output, with Green Metals Refining and Vedanta announcing plans on Thursday to set up and revive plants, respectively.Sulphuric acid is widely used in the extraction processes for metals including uranium, copper, manganese and rare earths used in clean energy technologies.

Sep 11, 2025 - 2:27 PM

Polish central bank increases gold holdings target to 30% of reserves

Poland’s central bank will seek to increase its gold holdings to 30% of its reserve assets, the bank said on Wednesday, as it seeks to bolster the country’s financial security.The National Bank of Poland said the scale and pace of purchases would depend on market conditions.

Sep 11, 2025 - 2:25 PM

ERG settles with Gecamines over DRC Swanmines project

Kazakh mining giant Eurasian Resources Group (ERG) said on Thursday it had signed a settlement with the Democratic Republic of Congo’s state-owned miner Gecamines in a dispute over the Swanmines copper and cobalt mining project.The dispute had led to the development of some copper and cobalt deposits in Congo being suspended.The settlement was reached during a visit to Kazakhstan by Congolese President Felix Tshisekedi.The agreement establishes a framework for promoting the Swanmines project and expands Gecamines’ participation, ERG said.

Sep 11, 2025 - 2:23 PM

Swiss add lustre to Trump trade deal with gold refining plan, sources say

ZURICH, Sept 11 (Reuters) - Switzerland is proposing that its gold industry builds a refinery in the United States or increases its processing capacity there as part of a plan to reduce U.S. trade tariffs, according to two people familiar with the matter.

Sep 11, 2025 - 11:04 AM

Mining

Bank of America sees nearly $1 trillion market cap potential for gold miners

PM told Anglo American to move HQ to Canada for Teck deal nod – report

Mercuria plans to take large amounts of aluminum from LME storage

Gold uptrend intact, but due for correction before topping $4,000 in 2026

India’s silver imports to gain momentum from strong investment demand

Indonesia aims to increase ownership of Freeport unit by more than 10%

BHP flags organic copper growth, US allure, silent on big buyouts

Kazakh miner Solidcore expects gold rally to offset output decline

Congo-Rwanda draft deal outlines role of US, others in revamp of minerals sector

Canada names gas plant, port, mines as major projects to be sped up

Norway’s sovereign wealth fund excludes Eramet from portfolio on ethics grounds

UBS gold price target raised to $3,800 by year-end

Indonesia cites lack of forestry permits in land seizures from nickel miners

Newmont applies for voluntary delisting from Toronto Stock Exchange

Codelco and BHP’s Escondida boost copper output in July

Fatalities rise among gold miners in 2024, Metals Focus reports

Namibia to boost sulphuric acid production as critical mineral output rises

Polish central bank increases gold holdings target to 30% of reserves

ERG settles with Gecamines over DRC Swanmines project

Swiss add lustre to Trump trade deal with gold refining plan, sources say