China’s central bank increased its gold reserves for the 17th consecutive month in March. Analysts noted that this steady and sustained buying is intended to optimize the structure of reserves and hedge sovereign risks, especially amid a complex international environment. According to official data released on Tuesday, China’s gold reserves stood at 74.38 million ounces at the end of March, …
Continue ReadingKazakhstan is assessing rare metals mining opportunities in Afghanistan and Rwanda, as laboratory tests and geological studies advance on samples collected from both countries. Kazakhstan is studying the possibility of extracting rare earth elements and other strategic minerals in Afghanistan, as Astana looks to expand its overseas mining interests and secure access to critical raw materials used in modern industry. …
Continue ReadingAngola has already identified 34 critical minerals for the energy transition, with emphasis on copper and the national strategy is to evolve from an exporter of raw materials to a producer of value-added goods. These goods are, namely, fertilizers, steel, titanium and components for batteries, aiming to increase internal value and diversify the economy, generating qualified employment. The data was …
Continue ReadingThe Bank of France (BdF) says it has pulled the remaining gold stored in New York and replaced it with a similar amount at its vaults in Paris. Due to rising gold prices, the move helped the bank to generate a capital gain of 13 billion euros ($15 billion), bringing it to a net profit of 8.1 billion euros for …
Continue ReadingFour weeks in, the ongoing conflict in the Middle East has evolved into one of the most severe recent energy shocks, according to the International Energy Agency, the International Monetary Fund, and the World Bank. Beyond the humanitarian toll, the conflict is disrupting global trade flows, driving volatility in oil and commodity markets, and amplifying inflation risks. In response, these institutions have formed a coordinated …
Continue ReadingAustralia’s parliament has passed legislation empowering the country’s export credit agency to physically buy, stockpile and sell fuels alongside critical minerals including rare earths, as the country suffers energy shortages triggered by the Middle East conflict. Prime Minister Anthony Albanese’s administration had announced its intention to establish the critical minerals reserve in January. However, as global energy markets were upended owing to the US-Israel war against Iran, …
Continue ReadingJapan and France on Wednesday agreed to advance cooperation on critical minerals supply as well as nuclear power, Kyodo News reported. At a meeting in Tokyo, Japanese Prime Minister Sanae Takaichi and French President Emmanuel Macron expressed “serious concerns” about restrictions on critical mineral exports. China, which reportedly mines about 70% of the world’s supply and refines around 90%, tightened …
Continue ReadingThe Brazilian government has begun internal discussions to evaluate the creation of a state-owned company linked to rare earths, according to officials familiar with the talks consulted by BNamericas. The discussions are at a preliminary stage and, even within the government, have generated divisions, with some factions more connected to the political area, such as the Chief of Staff’s Office, advocating …
Continue ReadingLondon-based mining services provider Norge Mineraler says the closure of the Strait of Hormuz will have a direct impact on Europe’s ability to boost military capabilities, particularly if the supply of critical minerals is disrupted. Norge Mineraler founder Michael Wurmser says sulphur is a particular point of concern since the Gulf provides 25% of the world’s supply. Companies in the region produce sulphur as a byproduct …
Continue ReadingNew nickel export tax is Indonesia’s boldest move yet to cut Chinese smelter dependence and climb the global value chain. Indonesia’s sweeping nickel downstreaming policy, launched in 2020, is entering a more consequential phase. Having successfully halted raw ore exports, the government is now preparing to deploy a more assertive instrument: an additional export levy on processed nickel products. Energy …
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