Anglo American was encouraged by key shareholders including BlackRock to continue engaging in talks with BHP Group over its proposed 38.6 billion pound ($49.18 billion) mining merger, a person familiar with the matter told Reuters on Saturday. BHP, the world’s biggest listed mining group, now has until May 29 to make a firm bid for Anglo American or it will […]
Battery Metals
Trafigura faces off with aluminum bulls over huge metal stash
The aluminum market is caught in a clash between some of the biggest traders and banks, with more than $1 billion of metal changing hands while lengthy queues form at London Metal Exchange warehouses. The big bear in the market is Trafigura Group: the commodities trading giant has delivered massive volumes of aluminum onto the […]
NGO sues Norway over deep-sea mining plans
Environmental activists have once again turned to the Norwegian courts, this time suing the government over its plans for seabed mineral exploration, which they claim has failed to test the possible impacts of such activity. The case, led by the World Wildlife Fund (WWF), argues the decision breaches national law, goes against the counsel of the government’s own advisers, […]
Anglo American rejects BHP’s third bid, extends deadline
Anglo American (LON: AAL) rejected on Wednesday a third takeover bid by BHP (ASX: BHP) that valued the company at $49.2 billion (£38.6bn), but it has agreed to extend the deadline for the world’s largest miner to make a formal offer. BHP now has until May 29 at 5pm GMT time to table a binding […]
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. It’s part of a colossal wave of spending needed worldwide to prevent […]
Now Form Energy is using its battery tech to clean up iron and steel
Form Energy launched in 2017 to tackle one of the biggest problems hindering the clean energy transition: how to cheaply store renewable energy for days on end. In developing its iron-air battery, though, the company stumbled on a potential breakthrough for another notorious climate challenge: cleaning up the iron and steel industries. Form designed a […]
Gold price hits $2,450 on rate cut optimism, geopolitical risks
Gold touched a new record of $2,450 an ounce on Monday as increasing optimism over the Federal Reserve’s monetary policy and rising geopolitical tensions paved the way for another rally in the metal. Bullion jumped by 1.4% to $2,450.07 per ounce during the session, surpassing a previous intraday high reached in April. By 11:30 a.m. […]
BHP debates improved Anglo bid as time runs out in takeover saga
With time running out on its $43 billion pursuit of Anglo American Plc, BHP Group faces a critical question: what would it take to draw the smaller company to the negotiating table within the next few days? BHP’s plan to partially break up and then acquire Anglo has transfixed the mining industry by pitting two of […]
Zijin Mining to produce 50% more copper by 2028
China’s top copper producer Zijin Mining (HKG: 2899) expects to produce 4% more copper in 2025 than previously planned to profit from the metal’s ongoing price rally, driven by anticipated supply shortages. The state-owned miner’s new goal is to boost copper production to 1.22 million tonnes next year. It also plans to further boost output […]
Copper and gold prices close in on records as metals mayhem continues
Copper vaulted toward a record in London and nickel spiked nearly 8%, capping a week of big moves in industrial and precious metals markets as bullish investors pile in and bearish bets unravel. Global benchmark copper contracts on the London Metal Exchange rallied as much as 2.8% on Friday to within striking distance of an […]
