The Chips Act has been surprisingly successful at spurring an investment boom. My latest for the Financial Times

ft.com/content/267561…

Is the beginning of a new wave of mining mega mergers?

Scoop from my colleagues Dinesh Nair Thomas Biesheuvel Crystal Tse

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They're back!

Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets.

Jack Farchy Mark Burton

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LME Takes Aim at Traders’ Russian Metal Games With New Rules

Mark Burton

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Some good news from Baku. Gubad is still charged but has at least left prison and is now under house arrest. He can get some medical care after months of suffering. Huge credit to his three incredible kids for their tireless campaigning efforts!

Codelco, the Chilean state miner battling to retain the title of world No. 1 copper supplier, is set to suffer a dip in output amid a slow resumption of operations after a fatal accident at one of its mines. Jack Farchy
bloomberg.com/news/articles/… via Bloomberg Markets

Copper traders and executives are debating whether this is the beginning of a long-awaited bull market. Not everyone is convinced, write Jack Farchy and James Attwood bloomberg.com/news/newslette… via Bloomberg Markets

The time from first mineral discovery to first metal has lengthened by four years on average, to 14. The oil industry is going in the other direction, with modern fields such as those off the coast of Guyana taking only five years to come online. bloomberg.com/news/features/… via Businessweek

A single trader is holding a futures position in tin equivalent to over 90% of the volume held in LME warehouses

Alfred Cang

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Traders have already worked out how to game the new Russian metal sanctions

Mark Burton Archie

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A mining company spent $10 billion digging a hole in the jungle. Then it all fell apart

A richly reported tale about the world's copper conundrum from Jacob Lorinc

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Traders are expecting metals prices to jump on Sunday night after the LME banned new Russian supplies

Mark Burton Alfred Cang

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“Thank God Demidenko was there to help us.” How Russia tortured and killed a volunteer whose house near the border was the last stop for nearly 1000 Ukrainians escaping the country as part of a modern day underground railroad. Read Pjotr Sauer theguardian.com/world/2024/apr…

The LME responds to new Russian metal sanctions

Mark Burton

bloomberg.com/news/articles/…

Big news for metals

US Imposes Sanctions on Use of Russian Metals on Exchanges

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An Eye-Watering Squeeze in Copper Ore Is Firing Up the Bulls

James Attwood

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The Swiss-based oil trading arm of Polish refiner Orlen met an intermediary it had *never dealt with before*.

Still, it signed pre-payment oil contracts worth $400 million. It wired the money in advance, but took no guarantees.

Now, the middlemen have vanished — with the money.

Thyssenkrupp, one of Germany's most iconic industrial conglomerates, plans to reduce steel output by ~20%.

The plan responds to an 'upward trajectory of energy costs owing to climate policy objectives' and pressure from 'unchecked' Asian steel imports.

thyssenkrupp-steel.com/en/newsroom/pr…

If I was an economic / financial policymaker interested in sub-Saharan African affairs, I would pay a bit of attention to a state-owned entity few know about: Cocobod of Ghana.

#cocoa #Chocinflation

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What's happening at Vitol? CEO Russell Hardy told us this week he has no plans to retire “at this stage,” but that he does have a plan for who would take over from him.

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