A LOOMING decision by the Democratic Republic of Congo (DRC) on cobalt exports could dramatically increase prices and push battery manufacturers towards alternative materials, said Bloomberg News citing industry experts.
Cobalt prices have already surged more than 50% since the DRC, which produces three-quarters of global output, halted exports on 22 February. Benchmark Mineral Intelligence warned in a report for the Cobalt Institute that an extension of the ban or strict quotas could drive prices even higher.
“The DRC government has indicated that further export controls, including a ban extension, or quotas, will follow,” Benchmark noted, adding that excessively stringent quotas could trigger “a swift move from battery makers towards cobalt-free chemistries.”
Unlike nickel and lithium, cobalt is primarily produced as a byproduct — mostly from copper mines in the DRC and nickel mines in Indonesia, said Bloomberg News. Congo suspended exports for four months following price drops caused by increased production from China’s CMOC Group.
Despite 12% growth in demand last year, many Chinese electric vehicle manufacturers have already shifted to cobalt-free lithium iron phosphate batteries. The EV market represented 43% of cobalt demand in 2024.
China currently refines 79% of global cobalt, with Finland a distant second at 7%. Indonesia contributed 12% of global supply last year, expected to reach 22% by 2030.
Artisanal mining, which once accounted for 10% of Congo’s output, has fallen to less than 2% amid low prices and CMOC’s expanded production.
The US is reportedly negotiating with Congo to secure access to critical minerals including cobalt in exchange for security assistance.
https://www.miningmx.com/trending/61141-all-eyes-on-congo-as-cobalt-market-hangs-in-balance/
The MOUs cover critical minerals, AI, semiconductors and dual-purpose defence technologies. Credit: Burkhan World Investments/Business Wire.
Burkhan World Investments, a US-based global investment platform, has announced the signing of three memorandums of understanding (MOUs) with Saudi partners, totalling $15bn (SR56.25bn).
These agreements, signed during the USA-Saudi Strategic Investment Forum in Riyadh, align with Saudi Arabia’s Vision 2030 and cover critical minerals, AI, semiconductors and dual-purpose defence technologies.
They signify a strengthening of economic and technological ties between the US and Saudi Arabia.
The first MOU, valued at $9bn, was signed with Grand Mines Mining to establish a new mining investment and operations company in Saudi Arabia.
This company will focus on critical minerals such as lithium, cobalt and rare earth elements, essential for advanced manufacturing and clean energy.
It aims to enhance mineral extraction technologies and position Saudi Arabia as a hub for mineral wealth and strategic resource delivery, supporting the kingdom’s economic diversification goals.
The second MOU, worth $1bn, was signed with Watad Digital to create an AI and semiconductor investment platform and innovation hub.
The third and largest MOU, at $5bn, is with Advanced Aircraft Technology and partners to form BWI Nexus, a dual-purpose defence innovation fund and integrated innovation hub.
Burkhan World Investments founder and CEO Shahal Khan said: “Burkhan is honoured to contribute to the next chapter of Saudi-US economic cooperation.
“These memoranda are more than investments – they are long-term platforms that support Saudi Arabia’s Vision 2030 while aligning US technological strength with regional growth priorities. We believe in building cross-border ecosystems that drive security, innovation and prosperity for all stakeholders.”
The Saudi Cabinet announced plans to negotiate an MOU with the US earlier this month, focusing on collaboration in mining and mineral resources.
The discussions were reported to involve the Saudi Ministry of Industry and Mineral Resources and the US Department of Energy.
Maintaining retaliatory tariffs and export controls on '10+10%' fentanyl tariffs "seriously undermining China's interests"
사진 확대 Chinese Foreign Ministry spokesman Lin Jian.
With the U.S.-China trade war entering a truce, the Chinese government announced on the 14th that it will maintain countermeasures such as retaliatory tariffs and export controls on the U.S. "fentanyl tariffs."
"The U.S. unreasonably raised tariffs on Chinese products twice, citing the fentanyl issue, and maintained it (even in this agreement)," Chinese Foreign Ministry spokesman Linjian said at a regular briefing.
"China immediately took action against both (US) tariffs, defending its legitimate rights and interests," he said, adding, "These countermeasures are still in effect."
Earlier, on the 12th, the US and China agreed to cut mutual taxation in Geneva, Switzerland. As a result, the U.S. tariff rate on China will decrease from 145% to 30% over the next 90 days, and China's tariff rate on the U.S. will decrease from 125% to 10%.
The U.S. 30% tariff rate on China includes 20% of the Fentanyl tariff. The Donald Trump administration imposed a total of 20% tariffs on Chinese products twice in February and March, citing fentanyl.
In response, China imposed additional tariffs of up to 15% on U.S. coal and liquefied natural gas (LNG) in February and up to 15% on U.S. agricultural and livestock products in March.
It also controlled the export of key minerals such as tungsten, tellurium, bismuth, molybdenum, and indium, and imposed strategic export controls on some U.S. companies.
Regarding the fentanyl issue, spokesperson Lin pointed out, "Fentanyl is a problem for the United States, not for China," adding, "The responsibility lies with the United States."
The U.S. ignored China's goodwill and imposed excessive fentanyl tariffs, he said. "This is seriously undermining China's interests."
Beijing correspondent Song Kwang-seop
FILE - Members of the 444 Brigade of the Libyan Army, a unit serving the Government of National Unity (GNU) and Prime Minister Abdulhamid al-Dbeibah, stand guard at Abu Salim area, in Tripoli, Libya, May 13, 2025. [File photo: Reuters/Ayman al-Sahili]
The most intense clashes for years rocked Tripoli for a second night and continued into Wednesday morning, witnesses in the Libyan capital said, after Monday’s killing of a major militia leader set off fighting between rival factions.
The United Nations Libya mission UNSMIL said it was “deeply alarmed by the escalating violence in densely populated neighbourhoods of Tripoli” and urgently called for a ceasefire.
The latest unrest in Libya’s capital could consolidate the power of Abdulhamid al-Dbeibah, prime minister of the divided country’s Government of National Unity (GNU) and an ally of Turkey.
Libya has had little stability since a 2011 NATO-backed uprising ousted longtime autocrat Muammar Gaddafi and the country split in 2014 between rival eastern and western factions, though an outbreak of major warfare paused with a truce in 2020.
A major energy exporter, Libya is also an important way station for migrants heading to Europe and its conflict has drawn in foreign powers including Turkey, Russia, Egypt and the United Arab Emirates. Its main oil facilities are located in southern and eastern Libya, far from the current fighting in Triopli.
While eastern Libya has been dominated for a decade by commander Khalifa Haftar and his Libyan National Army (LNA), control in Tripoli and western Libya has been splintered among numerous armed factions.
Dbeibah on Tuesday ordered the dismantling of what he called irregular armed groups.
That announcement followed Monday’s killing of major militia chief Abdulghani Kikli, widely known as Ghaniwa, and the sudden defeat of his Stabilisation Support Apparatus (SSA) group by factions aligned with Dbeibah.
The seizure of SSA territory in Libya by the Dbeibah-allied factions, the 444 and 111 Brigades, indicated a major concentration of power in the fragmented capital, leaving the Special Deterrence Force (Rada) as the last big faction not closely tied to the prime minister.
Including iris scans and fingerprinting to issue identity receipts.
Source: Reuters
https://clubofmozambique.com/news/most-intense-fighting-for-years-rocks-libyan-capital-282295/
TradingKey - Following signs of a softening in Trump’s tariff policy, global economic growth prospects have improved, leading to a multi-day rebound in international oil prices. With Donald Trump expressing a continued preference for lower oil prices, the market now faces a dilemma: should it follow Trump’s rhetoric or economic fundamentals?
In addition to promoting manufacturing repatriation, strengthening the U.S. as an energy superpower remains a core policy goal for Trump’s second-term administration. Trump has repeatedly emphasized his desire to boost U.S. crude production, using it as a tool to bring down what he calls “Bidenflation.”
Recently, Goldman Sachs analysts noted that Trump has consistently monitored the oil market and America’s dominance in the sector. He has referenced the topic nearly 900 times across social media platforms.
Goldman pointed out that Trump appears most comfortable with WTI crude prices in the range of $40 to $50 per barrel — a level at which his tendency to post about oil prices significantly declines.
The bank noted that when WTI prices rise above $50 per barrel, Trump tends to call for a decrease. Conversely, when prices fall below $30, he has previously urged higher prices — typically to protect domestic oil producers.
Since April, Trump has repeatedly called publicly for people to "buy stocks," and U.S. equities have indeed surged following some of his tweets. Therefore, the president’s bearish stance on oil prices may also influence investor psychology.
However, on the flip side, around the time the U.S.-China trade deal was reached, the probability of economic recessions in the U.S. and globally were revised downward, giving oil prices a significant boost. As of May 14, WTI crude had risen 8.61% month-to-date, currently trading at $63.40 per barrel, while Brent crude gained 5.10%, trading at $66.33 per barrel.
Data shows that since mid-April, there has been a sharp increase in the number of Brent crude call options expiring in late July with a strike price of $95 per barrel.
Besides expectations of further tariff reductions, Mizuho Securities noted that bullish sentiment toward oil prices could also stem from expectations that OPEC will halt further production increases, or that negotiations between the U.S. and Iran might stall.
https://www.mitrade.com/insights/news/live-news/article-2-820037-20250514
By Tsvetana Paraskova - May 15, 2025, 4:44 AM CDT
Oil prices dipped by 4% early on Thursday after U.S. President Donald Trump said the United States were close to a nuclear deal with Iran, while a top Iranian officials hinted at Tehran abandoning uranium enrichment if the U.S. lifts the economic sanctions.
In Asian and early European trade on Thursday, the U.S. oil benchmark, WTI Crude, was down by 4.12% at $60.58 a barrel, while the international benchmark, Brent Crude, was falling by 3.80% on the day and traded at $63.52 per barrel.
Oil came under pressure late on Wednesday after the U.S. Energy Information Administration (EIA) confirmed a crude oil inventory increase of 4 million barrels during the week ending May 9. On Tuesday, the American Petroleum Institute (API) reported a surprise build in US crude oil inventories of 4.287 million barrels in U.S. crude oil inventories with draws in gasoline and distillate stocks.
The slide in oil prices intensified early on Thursday, after President Trump said “We're in very serious negotiations with Iran for long-term peace.”
“We're getting close to maybe doing a deal without having to do this... there (are) two steps to doing this, there is a very, very nice step and there is the violent step, but I don't want to do it the second way,” President Trump told a pool of reporters during his tour of the Middle East.
Meanwhile, Ali Shamkhani, a top political, military, and nuclear adviser to Iran’s Supreme Leader Ayatollah Ali Khamenei, told NBC News that Iran is ready to sign a nuclear deal with the United States under certain conditions, including the U.S. lifting the sanctions on Tehran.
These comments came hours after the U.S. Treasury slapped additional sanctions on Iran, designating nearly two dozen firms operating in multiple jurisdictions in virtually every aspect of Iran’s illicit international oil trade.
https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Sink-4-on-Hints-of-US-Iran-Deal.html
Electric vehicle (EV) market share is expected to surpass 40% by 2030, with global sales projected to exceed 20 million by 2025, capturing over a quarter of the car market, according to the International Energy Agency (IEA).
Despite economic challenges, the EV sector continues to experience record growth, with affordability driving increased adoption.
The IEA's annual Global EV Outlook indicates that electric cars are becoming more affordable, leading to robust sales growth despite economic pressures on the automotive sector.
In 2024, global sales of electric vehicles exceeded 17 million, with EVs accounting for more than 20% of the global car market for the first time.
The first quarter of 2025 saw a 35% year-on-year increase in electric car sales.
China remains the leader in the EV market, with electric cars making up almost half of all car sales in 2024.
Additionally, emerging markets in Asia and Latin America have seen a surge in electric car sales, increasing by over 60% in 2024.
In the US, electric car sales grew by approximately 10% year-on-year, reaching more than one in ten cars sold.
Europe's sales stagnated due to diminishing subsidies and supportive policies, yet the market share of electric cars stayed around 20%.
Globally, the average price of a battery electric car decreased in 2024 amid competitive pressures and falling battery costs.
In China, two-thirds of electric cars sold were priced below their conventional counterparts, even without purchase incentives.
Furthermore, EVs have maintained lower operational costs across many markets, with home charging in Europe remaining about half as expensive as running a conventional car, even with potential oil price drops.
The IEA report highlights that nearly one-fifth of electric car sales worldwide consist of imported vehicles.
China, responsible for over 70% of global production, exported nearly 1.25 million electric cars in 2024, including to emerging economies where prices dropped significantly due to Chinese imports.
The report also focuses on electric trucks, noting an 80% increase in sales last year, accounting for nearly 2% of all truck sales globally.
IEA executive director Fatih Birol said: “Our data shows that, despite significant uncertainties, electric cars remain on a strong growth trajectory globally. Sales continue to set new records, with major implications for the international auto industry. This year, we expect more than one in four cars sold worldwide to be electric, with growth accelerating in many emerging economies. By the end of this decade, it is set to be more than two in five cars as EVs become increasingly affordable.”
https://finance.yahoo.com/news/global-ev-sales-exceed-20-162332678.html
Abstract
The cost of energy generated by large-scale vertical-axis wind turbines faces great challenges for it to be competitive with conventional horizontal-axis wind turbines for offshore deployment. To become competitive, significant reductions in capital cost and operational costs would be competitive. A novel vertical-axis wind turbine that aims to meet these requirements is proposed: the X-rotor wind turbine. An early-stage feasibility study of exemplary two- and three-bladed 5 MW turbines is reported. The cost savings arising from two aspects of the concept that have the greatest impact, namely the power take-off system and O&M, are quantified. Two other aspects that could have a major impact on the cost of energy are the vertical axis rotor and the jacket. The masses for both are evaluated as proxies for their costs. The former costs are determined to be substantial relative to those of conventional HAWTs. Whereas the latter masses are determined not to be prohibitively greater relative to conventional HAWTs.
Chicago soybean futures rose to a nine-month high on Wednesday, supported by a proposal to extend the biofuel tax credit - boosting demand for U.S. soybeans - and renewed optimism from a temporary truce in the U.S.-China trade dispute.
Trade developments pushed the most-active CBOT soybean contract ZS1! up $10.81 per bushel, marking a nearly 0.8% increase by 0442 GMT. The contract touched its highest point since July 26, 2024, and extended gains for the fifth consecutive session.
U.S. House lawmakers unveiled a proposal on Monday to extend the clean fuel tax credit (45Z) until December 31, 2031.
Andrew Whitelaw, an agricultural consultant at Episode 3, said that this extension would provide certainty for biofuel production, boosting demand for U.S. soybeans.
He said that the potential "demand cliff" following the 2027 expiration of the tax credit could significantly pressure crush margins and lead to weaker soybean prices.
Additionally, optimism was fuelled after U.S. President Donald Trump said in an interview on Tuesday that he could envision direct talks with Chinese President Xi Jinping to finalize a U.S.-China trade deal, following a temporary tariff pause between the two countries in Switzerland.
Analysts, however, cautioned that uncertainty persists as the U.S. marketing season draws near.
"In most crop categories, the new crop won't come in until the fall season. So there's still a great deal of uncertainty about what will happen when the 90-day pause wraps up in August," said Even Rogers Pay, agriculture analyst, Trivium China.
Producers also warned that the tariff pause alone will not help U.S. farmers revive soy sales in China without additional concessions.
Meanwhile, wheat futures ZW1! dipped 0.1% to $5.17 per bushel, hovering near contract lows due to high U.S. inventories, signalling a better-than-expected supply situation.
The USDA projected both U.S. and global wheat-ending stocks for the 2025-26 season above analysts' expectations.
Corn ZC1! was flat at $4.43 per bushel.
U.S. farmers had planted 62% of the nation's corn crop by Sunday, higher than analysts' expectations and ahead of the five-year average for this time of year of 56%, the USDA report showed.
The partnership is set to explore the use of pulsed power for applications such as rock fragmentation and precision drilling. Credit: T. Schneider/Shutterstock.com.
Codelco, the Chilean state-owned mining company, has signed a letter of intent (LOI) with I-Pulse to explore disruptive pulsed power solutions in mining.
This agreement signifies the commencement of a strategic partnership focused on promoting the development and implementation of innovative and sustainable solutions for the mining sector.
The partnership is set to explore the use of pulsed power for applications such as rock fragmentation and precision drilling, aiming to address the challenges faced by large-scale mining operations.
These challenges include the handling of older deposits, lower ore grades and increasing global demand in the context of the energy transition.
Codelco chairman of the Board of Directors Máximo Pacheco said: “This alliance reflects our commitment to innovation as a driver of more efficient and responsible mining.
“The possibility of incorporating capabilities like those of I-Pulse, which can revolutionise key processes such as rock fragmentation, is fully aligned with our vision for the future of Codelco and our goal of being a pillar of sustainable development in Chile and the world.”
In a related development, Codelco announced an exploration agreement with BHP for its Anillo property in the Antofagasta Region.
The collaboration is subject to the requirements of Law 19,137, which governs Codelco’s partnerships on non-operational or non-expansion mining projects.
Furthermore, Codelco has announced a new collaboration with Rio Tinto to potentially develop the mining district around Nuevo Cobre in Chile’s Atacama Region.
Nuevo Cobre is a joint venture between Rio Tinto and Codelco, with the former holding a 57.74% stake and the latter 42.26%.
The agreement between Rio Tinto and Codelco includes the formation of a joint committee and equal funding to conduct preliminary conceptual studies over an initial 12-month period, which can be extended.
Last month, Codelco signed an agreement to provide copper concentrates to the Adani Group’s $1.2bn (Rs102.47bn) smelter, referred to as Kutch Copper, located in Gujarat, India.
https://www.mining-technology.com/news/codelco-agreement-i-pulse-advanced-mining-technologies/
Ivanhoe Mines ( (TSE:IVN) ) has shared an update.
Ivanhoe Mines has significantly expanded its copper discoveries in the Makoko District of the Western Forelands, doubling the size of the resource in 18 months. The Makoko District now ranks as one of the highest-grade and largest new copper discoveries globally, with mineralization open in multiple directions, indicating potential for further expansion. The company’s ongoing drilling efforts are expected to enhance its resource estimates, reinforcing its position as a leader in high-grade copper exploration. This development underscores the Democratic Republic of the Congo’s status as a premier destination for new copper mines, with Ivanhoe Mines at the forefront of meeting the rising global demand for copper.
The most recent analyst rating on (TSE:IVN) stock is a Buy with a C$25.00 price target.
Spark’s Take on TSE:IVN Stock
According to Spark, TipRanks’ AI Analyst, TSE:IVN is a Neutral.
Ivanhoe Mines demonstrates strong operational performance with significant revenue and production growth, supported by strategic expansions and a robust balance sheet. However, challenges such as negative cash flow and high P/E ratio pose significant risks. Technical indicators signal a bearish trend, tempering short-term optimism. Positive earnings call insights and corporate events provide balance, but caution is advised due to financial and regional risks.
More about Ivanhoe Mines
Ivanhoe Mines is a mining company focused on the exploration and development of mineral resources, particularly high-grade copper deposits. The company operates primarily in the Democratic Republic of the Congo, where it holds a significant stake in the Western Forelands Exploration Project, adjacent to the Kamoa-Kakula Copper Complex. Ivanhoe Mines is recognized for its efficient and cost-effective mining operations, contributing to its strong positioning in the global copper industry.
Average Trading Volume: 3,107,542
Technical Sentiment Signal: Hold
Current Market Cap: C$19.53B
Find detailed analytics on IVN stock on TipRanks’ Stock Analysis page.
By Lisa Wang / Staff reporter
China Steel Corp (中鋼), the nation’s biggest steelmaker, yesterday announced sweeping price cuts by NT$600 per tonne for domestic delivery next month in response to customers’ conservative demand prospects as they grapple with volatility in foreign exchange rates.
The Kaohsiung-based company’s move came after sharp appreciation of the New Taiwan dollar versus the US dollar is posing a risk to the nation’s export growth momentum, although the nation’s economy is showing resilient growth toward an annual expansion of 2.9 percent this year estimated by the IMF, the company said in a statement.
“Customers are adopting a wait-and-see approach recently, as the downstream processing industry is taking hit from dramatic revaluation of the NT dollar lately,” China Steel said. “To help downstream steelmaking customers safeguard their competitiveness in taking new orders, the company is cutting prices extensively for June deliveries.”
The logo of China Steel Corp is pictured outside the company’s headquarters in Kaohsiung on April 8. Photo: CNA
The downward price adjustments on the company’s major products aligned with the weakening steel prices in Asia, such as Angang Steel Co (鞍本鋼鐵) in China lowering prices for certain steel plates recently and Formosa Ha Tinh Steel Corp (台塑河靜鋼鐵興業) in Vietnam trimming hot-rolled steel prices by US$17 per tonne during its latest price quotes, China Steel said.
At the same time, there are signs that demand in the US and European markets is sliding, while costs of raw materials, including iron ore and coking coal, hold steady at between US$95 and US$100 per tonne and in the range from US$185 to US$195 per tonne respectively, the company said.
https://www.taipeitimes.com/News/biz/archives/2025/05/15/2003836884
Steel rebar futures rose to CNY 3,135 per tonne in May, the highest in six weeks, and tracking the stronger momentum for ferrous metals after the outlook of improved trade flows.
The US and China lowered bilateral tariffs for the next three months to de-escalate their trade war, easing concerns of poor manufacturing demand and a weaker consumer this year.
In the meantime, Baosteel signaled that Beijing will likely mandate a nationwide output cut in steel goods to combat overcapacity and lingering weakness in construction activity.
While the government has not specified the magnitude of the cut, reports indicated that supply could fall by 50 million tonnes this year.
Stronger bids were tempered by reports that Beijing may overhaul the country's laws to halt sales of homes before their completion.
If done, the rule would remove a key source of financing for major property developers and magnify the financial stress for the debt-ridden sector, limiting steel demand from a major buyer.
https://www.tradingview.com/news/te_news:458738:0-steel-rises-to-6-week-high/
Beijing: Iron ore futures touched a more than two-week high on Tuesday, supported by a temporary trade agreement between the U.S. and China, although caution over a final deal and potentially slower near-term demand capped gains.
The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) closed daytime trade 1.06 per cent higher at 714.5 yuan ($99.34) a metric ton.
The contract hit its highest since April 24 at 727 yuan earlier in the session.
The benchmark June iron ore on the Singapore Exchange, however, slid 0.7 per cent to $99.3 a ton as of 0700 GMT after touching its highest since April 24 at $100.35 earlier.
On Monday, the U.S. agreed to drop levies on Chinese imports from 145 per cent to 30 per cent for a 90-day negotiation period and China said it would cut duties from 125 per cent to 10 per cent on U.S. imports, boosting sentiment and leading to a broad price rally across commodities.
But the initial enthusiasm faded amid uncertainties over a final deal and on seasonally slow demand, prompting concerns of sluggish ore demand in the coming weeks.
It's expected that hot metal output will likely show signs of softening in mid-to-late May, analysts at Shengda Futures said.
The lower hot metal output is expected to coincide with miners ramping up shipments to achieve quarterly targets, adding to the downward pressure on prices, according to analysts at CICC.
Hot metal output is a blast furnace product and typically used to gauge iron ore demand.
Steel benchmarks on the Shanghai Futures Exchange advanced. Rebar rose 0.88 per cent , hot-rolled coil added 0.78 per cent , wire rod climbed 1 per cent and stainless steel edged up 0.51 per cent.
Other steelmaking ingredients on the DCE, however, were dragged down by soft fundamentals, with coking coal and coke down 0.85 per cent and 0.69 per cent , respectively.
