Kenmare Resources plc
("Kenmare" or the "Company" or the "Group")
30 October 2026
Update on Implementation Agreement
Kenmare Resources plc (LSE:KMR, ISE:KMR), one of the leading global producers of titanium minerals and zircon, which operates the Moma Titanium Minerals Mine (the "Mine" or "Moma") in northern Mozambique, confirms that the Government of Mozambique's Council of Ministers has approved the renewal of its key rights and concessions pursuant to Moma's Implementation Agreement ("IA") until 2044, together with certain changes to the economic, investment and commercial terms.
The IA governs the terms under which Kenmare's subsidiary Kenmare Moma Processing (Mauritius) Limited ("KMPL") conducts its mineral processing and export activities. Mining operations at Moma are conducted under a separate regulatory framework.
Statement from Tom Hickey, Managing Director:
"Kenmare is delighted that the extension of its rights and concessions under Moma's IA has been approved. With Mineral Resources to support production for over 100 years, we have always taken a long-term view on our operations and relations in Mozambique. Consequently, we have agreed some changes to the applicable investment regime, which strike an appropriate balance between Kenmare's interests and increased contribution to Mozambique. The extension provides Kenmare with the certainty to continue to invest in Moma and support our host communities, while continuing to generate returns for all stakeholders."
Moma's Implementation Agreement and overview of revised terms
In December 2024 the initial 20-year authorisation period for KMPL's mineral processing and export activities came to an end. Kenmare has been negotiating an extension of that authorisation period for a further 20 years in accordance with the terms of the IA, while continuing to operate under legacy terms during the interim period.
On 13 October 2026, the Government of Mozambique's Council of Ministers approved the extension to 2044, as well as the conditions for subsequent extension, by the adoption of an internal resolution. Official notification of the extension was received by Kenmare on 29 October 2026. The Council of Ministers also approved, as part of the extension, modifications to the fiscal regime and the additional commitments set out below:
In addition, KMPL undertakes to:
The internal resolution further provides KMPL with the right to obtain a further 20-year extension in 2044 based on the applicable legal framework in force at the time.
The internal resolution updates and replaces the Council of Ministers' internal resolution of July 2025, the terms of which were disclosed in Kenmare's regulatory announcement of 9 March 2026.
Kenmare is liaising with the Government of Mozambique in relation to the signing of an addendum to the IA by representatives of the Government and Kenmare. After the signing of the addendum, it is expected that the addendum will be submitted to the Administrative Court of Mozambique as part of the process to complete the relevant administrative law procedures.
Analyst and investor webinar via Investor Meet Company
Kenmare will host a webinar for analysts, institutional investors and private investors via Investor Meet Company at 9:00am UK time today (30 October 2026) to discuss this announcement.
Questions can be submitted via the Investor Meet Company dashboard at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and register for the Kenmare webinar at:
https://www.investormeetcompany.com/kenmare-resources-plc/register-investor
Investors who already follow Kenmare on the Investor Meet Company platform will automatically have been invited.
https://finance.yahoo.com/economy/policy/articles/implementation-agreement-070000622.html
Oct 29 (Reuters) - Russia will extend its diesel export ban until the end of the year while allowing some companies to ship fuel under a quota system to meet its new export commitment to the US, two people familiar with the discussions told Reuters.
Moscow and Washington agreed a diesel supply deal after Presidents Vladimir Putin and Donald Trump spoke by phone earlier this month. The energy ceasefire between Russia and Ukraine announced alongside the agreement has allowed Moscow to increase fuel production. At the same time, fuel shortages earlier this year have prompted the government to maintain tight controls on oil product exports.
Deputy Prime Minister Alexander Novak said on Tuesday that three tankers carrying Russian diesel to export markets were already under way and that a fourth would sail on October 28.
Novak also said Russian refineries were recovering quickly from repairs. The sources said refinery utilisation had risen 25% at the end of October from the start of the month after drone attacks on facilities subsided.
Under the current diesel export ban, the government permits limited exports through a quota system. Those quotas will quadruple from October levels to 2 million metric tons, or about 0.5 million barrels per day, in November, the sources said. Shipments under existing intergovernmental agreements will also continue.
The Energy Ministry did not respond to a request for comment.
The current ban on diesel exports is due to expire on October 31.
In October, the government exempted several refiners from the ban and granted them export quotas totalling 0.5 million tons, the sources said. A new government order expected in early November would expand the list of exempt refiners and set new export limits. If the quotas are used up quickly, the government could consider increasing them further, the sources added.
Nominal diesel production in Russia exceeds domestic consumption by about 40%. As refineries return to normal operating rates, they will need export outlets to prevent a domestic glut.
(Reporting by Reuters. Editing by Mark Potter)
What powered the production record
Petrobras lifted third quarter production 5.3% versus the prior quarter as new deep water units ramped at Buzios, specifically the P-78 and P-79 platforms. The FPSO Alexandre de Gusmao also hit peak output at the Mero field, and fewer maintenance shutdown losses helped. Average crude production was 2.8 million barrels per day, a level that Ativa Investimentos analyst Ilan Arbetman says already tops the company's implied 2026 guidance and sets a higher starting point for 2027.
Refining runs hard, cushioning a global shock
Running its plants at 99% of capacity, Petrobras set a new high for diesel output and kept more barrels at home, which helped Latin America's largest economy limit exposure to disruptions in global energy markets tied to the Iran war. Brazil has also leaned on subsidies and tax cuts to soften the blow from higher fuel costs, while Petrobras prioritized domestic supply by keeping utilization elevated.
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Pricing pressure builds
Brent above $110 collides with Petrobras's fuel prices lagging international benchmarks. As of Wednesday, fuel importers group Abicom said diesel leaving refineries was priced 3.76 reais (0.70 dollars) per liter under import parity - equating to a 115% difference - while gasoline was 24% below international levels. That gap raises the odds of domestic price moves, even as strong volumes and high runs improve supply.
https://www.briefs.co/news/petrobras-hits-record-output-as-refineries-run-99-helping-br/
Rio Tinto, one of the world's largest publicly listed mining companies, has inaugurated two lithium plants worth $1.4 billion in Argentina, expanding its international operations alongside multibillion-dollar mining investments in Guinea and South Africa.
The Anglo-Australian group officially opened the Sal de Vida plant and Fénix 1B expansion in Argentina's Catamarca province on October 28, 2026, adding a combined 25,000 metric tonnes of annual lithium carbonate equivalent production capacity.
According to Reuters, the investment strengthens Rio Tinto's position in the global lithium market as demand increases for minerals used in electric vehicles and battery storage systems.
The company ranked fourth among publicly listed mining groups by market capitalisation in October 2026, with an estimated valuation of $139.4 billion.
Rio Tinto expands lithium production in Argentina
Sal de Vida is expected to produce 15,000 tonnes of lithium carbonate equivalent annually, while the Fénix 1B expansion will contribute another 10,000 tonnes once both facilities reach full capacity.
Rio Tinto is also developing its Rincón project in Argentina's Salta province, targeting annual production capacity of 60,000 tonnes as part of its broader ambition to reach 200,000 tonnes of global lithium capacity by 2028.
Speaking at the inauguration, chief executive Simon Trott outlined the company's production ambitions.
"We live in an era in which the world needs more lithium. At Rio Tinto, we have set ourselves the goal of reaching 200,000 tons of annual production capacity, with opportunities to raise that figure much higher," Trott said.
The expansion relies partly on direct lithium extraction technology, which can shorten processing times compared with conventional evaporation methods, although questions remain about operating costs and commercial scalability.
Rio Tinto's investments extend across Africa
Beyond Argentina, Rio Tinto is advancing its estimated $6.2 billion funding commitment to Guinea's Simandou iron ore project, one of Africa's largest mining and infrastructure developments.
The investment forms part of an $11.6 billion programme covering the SimFer mine and associated railway and port infrastructure.
Simandou is designed to support annual exports of up to 120 million tonnes of iron ore at full capacity, with Rio Tinto's SimFer joint venture responsible for blocks three and four, targeting 60 million tonnes.
The development recorded its first iron ore shipment in December 2025, with further construction continuing in 2026.
Meanwhile, Rio Tinto approved a $473 million investment in March 2026 to restart the Zulti South mineral sands project at Richards Bay Minerals in South Africa.
The project, suspended since 2020, is expected to extend operations until 2050, with initial commercial production scheduled for late 2028.
Beyond Guinea and South Africa, the mining group also maintains mineral sands operations in Madagascar through QIT Madagascar Minerals, which produces ilmenite for international industrial markets.
Dublin, Oct. 29, 2026 (GLOBE NEWSWIRE) -- "Spinel Cathode Materials Market Report 2026" has been added to ResearchAndMarkets.com's offering.
The global spinel cathode materials market is experiencing rapid growth, supported by rising lithium-ion battery demand and expanding investment in electric vehicles, energy storage systems and advanced battery manufacturing. The market is projected to increase from $1.61 billion in 2025 to $1.77 billion in 2026, representing a compound annual growth rate (CAGR) of 10.1%.
Historic market growth has been driven by the increasing use of lithium manganese oxide cathodes in consumer electronics, wider adoption of cost-effective battery chemistries and the expansion of early electric vehicle production capacity. Greater emphasis on battery safety, thermal stability and performance has also strengthened demand for spinel cathode materials across automotive, electronics and stationary energy storage applications.
The spinel cathode materials market is forecast to reach $2.57 billion by 2030, expanding at a CAGR of 9.8%. Growth during the forecast period is expected to be supported by rising electric vehicle production, increasing deployment of grid and commercial energy storage systems, and continued investment in battery gigafactories. Demand for high-voltage spinel materials and cobalt-free cathode chemistries is also expected to create new opportunities for battery material manufacturers and technology developers.
Key spinel cathode materials market trends include advancements in high-voltage spinel technologies, innovations in doped and coated formulations, and the development of more efficient processing methods. Research into fast-charging battery materials and nanostructured spinel cathodes is expected to improve energy density, cycle life, charging performance and operational safety. These innovations are becoming increasingly important as automotive manufacturers and energy storage providers seek scalable, durable and cost-effective alternatives to conventional cathode materials.
The rapid expansion of electric vehicle sales remains a major market driver. Higher fuel costs, supportive clean transportation policies and improvements in charging infrastructure are encouraging consumers and fleet operators to adopt electric and hybrid vehicles. According to the U.S. Energy Information Administration, electric and hybrid vehicles accounted for 18.7% of total new light-duty vehicle sales in the United States during the second quarter of 2024, compared with 17.8% in the first quarter. This increase is contributing to stronger demand for high-performance lithium-ion batteries and spinel cathode technologies.
https://finance.yahoo.com/energy/articles/global-spinel-cathode-materials-market-153300850.html
South Korea's battery industry is showing early signs of recovery as stalled electric vehicle projects resume and growing demand for energy storage systems helps offset a slowdown in the US EV market, a leading industry executive said Thursday.
Eom Ki-cheon, chairman of the Korea Battery Industry Association and CEO of Posco Future M, said global EV projects began restarting late last year, raising hopes of a gradual rebound across the battery supply chain.
Speaking to reporters ahead of Korea Battery Industry Day at a Seoul hotel, Eom said major Korean battery makers — LG Energy Solution, Samsung SDI and SK On — are seeing improving profitability, although the recovery has yet to fully reach battery materials suppliers.
He pointed to rising demand for energy storage systems, fueled by AI data centers and robust EV sales in Europe as key drivers of the turnaround.
"The US EV market has slowed, but growing demand for energy storage systems driven by AI data centers has helped Korean battery makers," Eom said. "Europe's EV market has also grown by more than 20 to 30 percent."
Eom identified factory utilization rates and shipment volumes as key indicators of a near-term recovery. Order backlogs, which typically translate into revenue over two to three years, would signal longer-term growth.
Posco Future M is already benefiting from the improving outlook, he said.
Since the second half of 2025, the battery materials maker has secured contracts covering approximately 1.5 million metric tons of cathode and anode materials. It expects to win another two or three deals totaling about 1.2 million tons by year-end, potentially lifting cumulative orders to between 2.5 million and 2.7 million tons.
The company expects shipments and factory utilization rates to begin rising in the second half of 2027, with sales volumes gaining further momentum from 2028.
On government support, Eom welcomed the proposed domestic production tax credit but warned that benefits could be limited for smaller battery suppliers struggling with losses.
Because the incentive offers corporate tax reductions, companies not generating taxable profits would receive little immediate relief, he said.
Eom said the association is working with the National Assembly and the Industry Ministry to introduce a direct cash refund mechanism to provide more effective support for domestic battery manufacturers.
hyejin2@heraldcorp.com
KEY POINTS
Binance was hacked with an estimated impact of $6.3 billion, raising questions about the recovery of stolen funds and the broader fallout for crypto markets. Around $3 billion in cryptocurrency assets have been frozen so far.
The exchange pledged to cover all losses, while blockchain investigators linked the attack to North Korea and analysts assessed the potential financial risks.
Bitcoin was under pressure on Friday and was trading below $78,000.
Can frozen funds be recovered?
Freezing cryptocurrency prevents it from being transferred, but recovering the funds requires a separate legal process, according to Ari Redbord, global head of policy at blockchain intelligence firm TRM Labs and a former U.S. federal prosecutor and Treasury official.
“A freeze stops the money from moving, and recovery follows through legal process,” Redbord told CNBC.
Redbord said law enforcement typically obtains a court order or seizure warrant before working with stablecoin issuers to release or reissue assets and return them to their rightful owners.
“Stablecoins are the most recoverable asset class in crypto because the issuer controls the token contract,” he said. “Tether and Circle can freeze, burn and reissue, which allows frozen USDT and USDC to be returned to a victim.”
But recovering bitcoin and ether is more challenging because they have no issuer that can directly freeze the assets. Instead, investigators must trace funds through exchanges and other crypto services where they can potentially be intercepted, added Redbord.
Eric Jardine, head of research at blockchain analytics firm Chainalysis, said returning frozen assets requires coordination among law enforcement, exchanges and token issuers.
“There is no standard recovery timeline. A technical freeze may happen quickly, while returning funds can take months or years,” Jardine told CNBC.
Jardine added that while bitcoin and ether cannot be frozen by an issuer, they can still be traced and potentially recovered. Investigators can trace the funds on public blockchains and intervene when they reach a cooperating exchange or another centralized platform, he said.
Who is behind it?
TRM Labs attributed the attack with high confidence to TraderTraitor, a North Korean state-sponsored hacking unit, based on on-chain and off-chain intelligence.
The FBI previously identified the same group as responsible for the $1.5 billion Bybit hack in February 2025, according to the company’s insights.
TRM Labs said the Binance attack shared characteristics with previous North Korea-linked incidents, including preparations made well before the theft and transaction signatures obtained in advance.
The firm estimated that approximately $6.36 billion in digital assets were moved from Binance wallets across 10 blockchains, with most transferred within about 20 minutes.
TRM Labs said preparations for the attack began at least 36 hours before the theft, with the attackers using Tornado Cash, a cryptocurrency mixing service, to fund their wallets ahead of the breach.
Chainalysis also pointed to North Korea, with co-founder and CEO Jonathan Levin saying the firm assessed that the $6.4 billion Binance hack was likely carried out by TraderTraitor, citing links to previous attacks.
Does this pose financial risks?
The attack does not currently appear to pose a significant solvency risk for Binance, according to Sean Farrell, head of digital asset strategy at Fundstrat Global Advisors.
“The most important takeaway for markets is that this does not currently appear to create meaningful solvency risk for Binance,” Farrell said.
Farrell estimated that around $3.3 billion in assets remained unfrozen. Assuming frozen stablecoins are eventually returned, Binance’s SAFU emergency fund, worth approximately $1.2 billion, could cover roughly a third of the remaining losses, with the balance coming from the exchange’s own funds.
Farrell said the key indicators to watch were how quickly Binance resumes withdrawals and whether outflows remain orderly. He added that a shortfall in customer assets could force the exchange to sell reserves, potentially triggering broader selling across crypto markets.
“I do not think that is the setup we are dealing with, but the key tell will be how quickly withdrawals resume and whether outflows stay orderly,” Farrell said.
What does the hack mean for crypto security?
The Binance hack underscores the need for stronger cybersecurity standards and greater coordination among governments, according to Chris Perkins, head of Franklin Crypto at Franklin Templeton.
Speaking to CNBC’s “Squawk Box Asia,” Perkins said the industry must address cybersecurity challenges to reach its full potential, calling for stronger defenses and policies to hold cybercriminals accountable.
“We need to make sure standards are incredibly high, but we have to really focus on the criminals,” Perkins said.
Perkins called for greater international cooperation to address cybersecurity threats, pointing to regulatory coordination among G20 countries following the global financial crisis as a potential model.
He also said AI could help improve cybersecurity by identifying and addressing vulnerabilities, even as the technology is used by both attackers and defenders.
First Quantum Minerals has lowered its 2026 copper production forecasts for both Zambian mines, according to financial results published on Wednesday, October 28. The downward revisions reflect operational challenges and reduce the company's previously expected production potential in Zambia, where its mines accounted for approximately 42% of national copper output in 2025.
First Quantum attributed the adjustments primarily to lower-than-expected ore grades at Kansanshi and Sentinel. At Kansanshi, the company specifically cited "expected lower feed grades and reduced recovery rates" as factors affecting its production outlook. The miner now expects Kansanshi to produce between 175,000 and 185,000 tonnes of copper in 2026, compared with its previous forecast of 175,000–205,000 tonnes. Meanwhile, First Quantum has narrowed Sentinel's production guidance to 190,000–200,000 tonnes, down from the earlier range of 190,000–220,000 tonnes.
However, the revised guidance does not necessarily indicate that First Quantum's annual copper production in Zambia will decline from 2025 levels. Kansanshi and Sentinel produced a combined 370,000 tonnes last year, an 8% decrease from 2024. By adding together the upper limits of the new ranges, production could reach 385,000 tonnes in 2026. If this level were reached, it would represent an increase compared to 2025.
First Quantum's fourth-quarter results should provide further insight into its full-year production performance in Zambia. The figures will also help assess progress toward the Zambian government's copper production target. Zambia aims to increase national copper output from 890,346 tonnes in 2025 to one million tonnes in 2026. Given the significant contribution of Kansanshi and Sentinel to the country's copper industry, their production performance will be an important factor in determining whether Zambia meets that target.
Aurel Sèdjro Houenou
EOG Resources stock was quoted at EUR 143.95 by Lang & Schwarz on October 29, 2026, at 17:09:51 Berlin time. The latest company-specific update is a pre-earnings preview published by MarketBeat on October 29, which adds third-quarter estimates ahead of the already reported November 5 date.
New estimates ahead of results
According to MarketBeat, analysts expect third-quarter 2026 earnings of USD 4.45 per share and revenue of USD 7.26 billion. The company is expected to report after the market close on November 5, followed by an earnings call on November 6.
Those estimates provide a fresh benchmark for the next operating update. EOG's second-quarter results, released on August 4, delivered USD 8.62 billion in revenue and diluted earnings of USD 5.15 per share, according to standardized financial data. MarketBeat also reported that the quarter exceeded its consensus revenue and earnings estimates.
Tax guidance remains a watchpoint
In an October 8 filing, EOG said its expected current tax expense for the third quarter had risen to USD 835 million to USD 935 million from a previous range of USD 545 million to USD 645 million. The company attributed the change to higher crude oil prices realized in the quarter and anticipated for the full year, while saying it was not updating other guidance ranges.
Price and investor context
The latest completed Xetra close for the EUR instrument EO5.DE was EUR 145.20 on October 28, 2026, compared with EUR 145.05 on October 27, a gain of 0.10 percent. This is a separate exchange comparison from the Lang & Schwarz quote above and does not establish a causal link to the earnings preview.
The company declared a quarterly dividend of USD 1.02, with payment scheduled for October 30, 2026. EOG operates in the Energy sector and explores for, develops, produces and markets crude oil, natural gas liquids and natural gas.
Freeport-McMoRan is considering plans to increase molybdenum production at its Climax mine in Colorado, citing supply challenges and growing demand, CEO Kathleen Quirk said Tuesday, according to Bloomberg. Prices of the metal, which is used in aerospace and semiconductors, have risen more than 50% this year.
About 60% of global molybdenum supply is produced as a byproduct of copper mining, and a major part of the supply squeeze stems from Chile, where operational setbacks have cut output of both copper and molybdenum; Chilean production fell 8% in the first half of 2026 from a year earlier.
Molybdenum demand grew at an average annual rate of 4.4% during 2020–25 before jumping to 8.5% in the first half of this year, and prices have climbed more than 50% year-to-date, BMO Capital said in a note that forecasts a sixth consecutive annual market deficit in 2027.
In addition to raising output at Climax, Freeport's proposed expansion of the Bagdad copper mine in Arizona would add 10 million–12 million lbs per year of molybdenum production. Quirk said boosting copper output remains the company's top priority.
VANCOUVER — Teck Resources Ltd. reported its third-quarter profit rose compared with a year ago, helped by higher copper and zinc prices.
The Vancouver-based miner says its profit attributable to shareholders amounted to $1.59 billion or $3.24 per diluted share, up from $281 million or 57 cents per diluted share in the same quarter last year.
On an adjusted basis, Teck says it earned $1.88 per diluted share in its latest quarter, up from an adjusted profit of 76 cents per diluted share a year earlier.
Revenue for the quarter totalled $4.52 billion, up from $3.39 billion in the third quarter of 2025.
On the weekend, about 1,200 workers represented by the United Steelworkers at Teck’s Highland Valley Copper mine began a strike.
Teck has said operations are continuing at a reduced capacity, but that the impact on production will depend on the duration of the job action.
This report by The Canadian Press was first published Oct. 29, 2026.
Companies in this story: (TSX:TECK.B)
The Canadian Press
