The Anglo subsidiary was already working with the previous administration on ways to improve the crucial infrastructure.

Under current legislation, the government is entitled to offer to buy as much as 15% equity in any new mining entity.

The steelmaking material slid as much as 3.5% to touch $99.85 in Singapore, with futures on track for a third day of losses.

A senior White House adviser said lifting that punishment is necessary to open up the assets to new investments that support US interests.

The miner also announced internally that it will no longer enter into long-term deals to buy commodities that it doesn’t already produce.

Spot bullion traded just under $2,400 an ounce, erasing earlier gains.

Wealthy Australians are emerging as an important pool of capital for financing coal projects shunned by banks.

Shipments more than doubled to 157,751 tons in June from May, well above the previous all-time high of 102,000 tons in 2012.

Prices for the metal fell for a sixth day, even after China announced a surprise interest-rate cut.

Africa’s second-largest copper producer is seeking to take advantage of what many predict will be a supply shortfall in the coming years.

The price of the material that’s vital to the energy transition has plunged by around 80% since late 2022.

Copper production for the three months to June 30 also fell 14% from the year before.