BEIJING - China has stalled Japan-bound exports of various critical minerals including rare earths and rare metals, mainly items related to the defense industry, recent Chinese trade data has shown, indicating continued economic pressure amid a Sino-Japanese diplomatic row.
In recent years, Beijing has tightened export controls on at least 16 types of minerals amid its trade conflict with Washington. On Jan. 6, China strengthened restrictions on the shipment of dual-use items to Japan following Japanese Prime Minister Sanae Takaichi's parliamentary remarks last November on a Taiwan emergency.
The 16 types of minerals include seven types of rare earths that are used for manufacturing high-tech products including electric vehicles and weapons. China dominates the global supply of rare earths.
Dual-use items are goods, software or technologies that have both civilian and military applications.
Since January, China has not exported to Japan any dysprosium or terbium, which are elements for high-performance permanent magnets. It has also ceased shipments of yttrium and scandium used in the aerospace industry that are "not mixed or alloyed," the data showed.
The impact of tighter export curbs on the three other rare-earth items was unclear as their shipment volume to Japan is generally small or there were no available data.
China's exports of rare-earth magnets to Japan have dropped significantly since the imposition of the tighter controls, with a 35 percent fall in volume registered in May from the previous month, according to the data.
Of the nine other minerals including rare metals, Beijing has stopped Japan-bound exports of molybdenum powder, which is used to produce missile components, since January.
Since February, China has halted the shipment of some tungsten items to Japan, while it did not export some gallium products between the January-April period.
Except for February, China did not ship to Japan any antimonial lead that is used for manufacturing bullets and auto parts. Meanwhile, exports of germanium and graphite had no significant changes.
While Japanese companies are struggling to diversify their supply chains, Chinese authorities detained two Japanese employees of the Fuji Electric group in May over an alleged attempt to take rare earth-related products overseas.
In late June, China added 20 Japanese entities, including the National Institute for Defense Studies and subsidiaries of Mitsubishi Electric Corp., to its list of firms and institutions banned from receiving dual-use items, bringing the total number to 40.
Sino-Japanese ties have sunken to their lowest point in years since Takaichi suggested an attack by China on Taiwan, a self-ruled democratic island Beijing claims, could prompt a response by the Japan Self-Defense Forces in support of the United States.
New Delhi and Moscow are also working to remove non-tariff barriers, New Delhis envoy said at Innoprom 2026
New Delhi and Moscow have made progress in talks to boost trade, India's ambassador to Russia has said.
Speaking at Russia's main investment and trade platform Innoprom 2026 on Monday, Vinay Kumar said that the two countries are negotiating a bilateral investment protection agreement and working to remove non-tariff barriers, particularly with regards to agriculture and food products.
India-Russia trade is now at about $58 to $60 billion, and both countries are pursuing a trade target of $100 billion by 2030 that was set during Russian President Vladimir Putin's visit to India in December.
Kumar said that Indian businesses were responding "very positively and actively" to the country's expanding diplomatic presence, citing New Delhi's Consulate General in Ekaterinburg that was opened in November.
India is represented by over 30 companies in the investment fair being held at the Ekaterinburg-EXPO International Exhibition Center.
India and the Eurasian Economic Union (EAEU) have also made progress in discussing a free trade agreement. The second round oftalkswas held in Moscow late last month, Kumar said.
Another Innoprom conclave will be held in India in September, ahead of the BRICS summit in New Delhi.
Russian Prime Minister Mikhail Mishustin noted at the plenary session that Russia's manufacturing output has grown by nearly 23% over the past three years despite sanctions pressure. Industrial transformation is becoming one of the key drivers of growth in in the country, which has increased non-energy trade with key partners, including India, he said.
"Russia is steadily strengthening its status as a reliable supplier of high-tech products," Mishustin said. "Last year, despite the difficult circumstances, we increased non-resource, non-energy exports by more than 11%. The strongest growth was recorded with China, India, Belarus, and Kazakhstan."
Russia will continue to build international infrastructure and establish stable cooperative ties with friendly countries and partners within the framework of the Eurasian Economic Union, the Commonwealth of Independent States, BRICS, and the Shanghai Cooperation Organization (SCO), he said.
(RT.com)
By Siddharth Cavale
NEW YORK, July 6 (Reuters) - Oil prices were little changed on Monday, trading around pre-Iran war levels as Saudi Arabia slashed its official selling prices, OPEC+ approved another production target increase starting in August, and exports through the Strait of Hormuz recovered further.
Brent crude futures, which hit a four-year high above $126 in late April, were trading at $72.19 a barrel at 11:26 a.m. ET (1626 GMT), up 7 cents, or 0.1%. U.S. West Texas Intermediate crude was at $68.81 a barrel, up 12 cents, or 0.2%.
There was no settlement for WTI on Friday as U.S. markets were closed for a public holiday.
Both contracts were little changed last week after mostly falling over the past month back to levels last seen in late February, prior to the start of the war that severely disrupted global energy flows.
"The downward move is still influenced by earlier stranded tankers managing to exit the Gulf, resulting in an increase in oil on water," UBS analyst Giovanni Staunovo said.
Investors kept a close eye on talks between the U.S. and Iran over the fate of shipping through the Strait of Hormuz while keeping tabs on the recovery in Gulf oil exports.
The United Arab Emirates raised its crude output to near record highs above 3.8 million barrels per day in June after it quit OPEC to escape production caps, two people familiar with production data said on Monday.
Saudi Arabia has set the official selling price for its flagship Arab Light crude to Asia in August at $1.50 a barrel below the Oman/Dubai average, marking the biggest monthly cut in the price since Reuters records began in 2003. Abu Dhabi National Oil Company (ADNOC) has also been selling crude through tenders at discounted prices, traders told Reuters.
"It is increasingly looking like the Gulf producers are gearing up for a price war," said Robert Yawger, director of energy futures at Mizuho.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia agreed on Sunday to further increase output targets by 188,000 bpd from August, on top of similar increases for June and July.
However, these increases have remained largely on paper because of the Iran war, which closed the Strait of Hormuz to tanker traffic for key OPEC producers, including Saudi Arabia, Kuwait and Iraq, capping their output.
"They are selling into a falling market, offering little hope of an imminent price recovery," said PVM analyst Tamas Varga. "However, lower oil prices will undoubtedly stimulate demand further down the line."
https://finance.yahoo.com/news/oil-slips-opec-agrees-raise-003607304.html
Current Oil Import Scenario in India
India imports more than 85 percent of its total crude oil requirement. The country buys crude from many regions including the Middle East, West Africa, Russia, the US, and Latin America. Spot purchases like this one play an important role in filling gaps and taking advantage of favourable market conditions.
Market experts say such moves also help Indian companies stay flexible amid changing global oil prices and supply situations. While exact details of the crude grades and sellers have not been made public, these tenders usually attract interest from major international suppliers.
This latest purchase comes at a time when global oil markets remain watchful of production decisions by OPEC+ countries and other geopolitical developments. For Indian refiners, ensuring regular feedstock is key to meeting domestic fuel needs without disruption.
The development was first reported by international news agencies based on information shared by trade sources familiar with the matter.
Investing.com - Ten Japan-linked ships were exiting the Strait of Hormuz on Monday after being stranded in the narrow waterway for months, according to media reports.
Citing shipping data from LSEG, Reuters reported that the vessels include six very large crude carriers loaded with 12 million barrels of Middle Eastern crude, as well as two chemical tankers, a vehicle carrier and a container ship.
Crudes from Saudi Arabia, the United Arab Emirates and Qatar which were loaded in late February and early March are being carried by the tankers, Reuters reported. Most of the vessels are managed by Japanese group Mitsui O.S.K. Lines, the news agency added.
Meanwhile, a supertanker transporting 2 million barrels of Saudi crude to South Korea also departed the strait over the weekend, according to Korean refiner S-Oil. It is expected to arrive at Onsan, South Korea, on July 26, Reuters said.
The reports bolstered hopes that oil flows have begun to recover from the months-long shuttering of the Strait of Hormuz, a vital conduit through which a fifth of the world's oil and liquefied natural gas flowed prior to the start of a joint U.S.-Israeli assault on Iran in late February.
Following an interim peace agreement between Washington and Tehran last month, benchmark global oil prices have slipped back down to pre-war levels of roughly $70 a barrel. Following the start of the conflict, crude briefly surged to above $110 a barrel.
This decline has helped to ease fears of an energy-driven inflation wave and an accompanying period of central bank interest rate hikes.
Despite the framework deal, the U.S. and Iran remain at odds over the Strait of Hormuz. Tehran has demanded that it retain some control over the strait, which partially lies just off its southern coast. The U.S. has rebuffed these demands, while the two sides are also at odds over key issues like Iran's nuclear ambitions and fighting between Israel and Tehran-backed Hezbollah militants in Lebanon.
Talks between the U.S. and Iran were postponed for the multi-day funeral of former Iranian Supreme Leader Ayatollah Ali Khamenei, who was killed in strikes at the beginning of the war. Iran's new Supreme Leader, Ayatollah Mojtaba Khamenei, has not yet made an appearance at the funeral ceremonies, the Associated Press reported.
https://uk.finance.yahoo.com/news/japan-linked-vessels-exit-strait-111408250.html
June's output reached its highest level since April 2020, according to Reuters estimates, exceeding pre-Iran war production levels
Published: Mon 6 Jul 2026, 5:15 PM
The UAE raised its crude output to near record highs above 3.8 million barrels per day in June after it quit Opec to ease production caps, two sources familiar with production data said on Monday.
June's output reached its highest level since April 2020, according to Reuters estimates, exceeding pre-Iran war production and marking an early payoff from the UAE's decision to leave Opec and Opec+ on May 1.
Abu Dhabi National Oil Company and the UAE's energy ministry did not immediately reply to a Reuters request for comment.
By Leon Stille - Jul 06, 2026, 12:00 PM CDT
For much of the past decade, carbon credits have suffered from a credibility problem. Critics called them greenwashing, environmental groups questioned their effectiveness, and a series of poorly designed projects damaged confidence in the entire market. As a result, carbon credits found themselves in an uncomfortable position: too important to abandon, yet too controversial to fully embrace.
That is why a seemingly technical announcement from Hess Corporation deserves far more attention than it has received.
The U.S. energy company has now retired 12.5 million carbon credits purchased from Guyana in a transaction worth approximately $250 million. At first glance, this may appear to be just another carbon market deal. In reality, it may represent one of the largest transfers of value from the fossil fuel economy to nature-based climate action ever recorded.
More importantly, it highlights something often overlooked in climate discussions: decarbonization is not only about technology. It is also about directing capital toward climate solutions at a scale large enough to matter.
From Announcement to Action
One reason this transaction is significant is that the credits have actually been retired.
That distinction may sound technical, but it matters enormously. Carbon markets are full of announcements about future purchases, partnerships, and commitments. Buying a carbon credit is relatively easy. Retiring it is what gives it climate value. Once retired, the credit is permanently removed from circulation and can no longer be traded or reused.
The original Hess-Guyana deal was announced several years ago. What is news today is that the credits have now been used for their intended purpose. The climate benefit has moved from promise to implementation.
For a market often criticized for producing more headlines than outcomes, that is an important signal.
The Reality of Polluter Pays
Carbon credits remain controversial because many people fear they allow companies to buy their way out of reducing emissions. That concern is understandable. No amount of offsetting can replace the need to reduce fossil fuel consumption, electrify transport, deploy renewable energy, or decarbonize heavy industry.
But framing the debate as a choice between emissions reductions and carbon credits misses the reality of the climate challenge.
The world still consumes more than 100 million barrels of oil every day. Fossil fuels are not disappearing tomorrow, regardless of how quickly the energy transition accelerates. Until they do, one of the most reasonable demands society can make is that polluters contribute financially to climate action.
That is precisely what happened here. A fossil fuel company generated revenue from hydrocarbon production and transferred approximately $250 million into a mechanism designed to reward forest conservation and carbon storage. Nobody should pretend this solves climate change. But neither should anyone dismiss the significance of moving a quarter of a billion dollars from carbon extraction toward carbon preservation.
Why Guyana Matters
The transaction also highlights an increasingly important development in global climate finance.
For decades, developing countries have argued that they are being asked to protect forests and biodiversity without receiving adequate compensation for doing so. In many cases, the economic incentives favored logging, mining, or agricultural expansion rather than conservation.
Carbon markets attempt to change that equation by assigning financial value to keeping carbon locked away in natural ecosystems.
Guyana's forests represent a massive carbon sink. By creating a mechanism through which those forests generate economic value without being destroyed, the deal offers a glimpse of how conservation could become a viable development pathway rather than an economic sacrifice.
Of course, quality matters. Not all forest credits are equal, and concerns about verification, permanence, and additionality remain valid. But those debates should not obscure the broader trend. Carbon stored in ecosystems is increasingly becoming an economic asset rather than an ignored environmental benefit.
Carbon Is Becoming Part of the Economy
Perhaps the most important lesson from the Hess transaction is that carbon itself is slowly being integrated into economic decision-making.
For most of modern history, emitting carbon dioxide was effectively free. Companies could release greenhouse gases into the atmosphere without paying for the associated climate impacts. That situation is gradually changing through carbon taxes, emissions trading systems, carbon contracts for difference, carbon border adjustment mechanisms, and voluntary carbon markets.
The process is messy and far from complete, but the direction of travel is clear. Carbon increasingly has a price. Avoiding emissions increasingly has value. Preserving natural carbon stocks increasingly creates economic opportunities.
That shift may ultimately prove as important as any individual technology.
The Financial Side of the Energy Transition
The energy transition is often described as an engineering challenge requiring better batteries, more renewable energy, cleaner industrial processes, and carbon capture technologies. All of that is true.
But it is equally a capital allocation challenge. The world needs trillions of dollars flowing away from high-carbon activities and toward low-carbon alternatives. Governments alone cannot provide that financing. Private capital must also be mobilized.
Carbon markets, despite their imperfections, remain one of the few mechanisms specifically designed to channel private money into climate outcomes at a global scale.
The retirement of 12.5 million carbon credits will not solve climate change. But it does demonstrate that meaningful sums of money can move from carbon-intensive industries toward climate action when the right frameworks exist.
And that may be the most important signal of all. The transition is accelerating not only because technologies are improving, but because financial systems are slowly learning how to value carbon differently. When markets begin rewarding conservation and assigning costs to emissions, climate action stops being solely an environmental objective.
It becomes an economic one.
And that is usually when real change begins.
Barrick Mining has appointed a new executive to lead the feasibility study for expanding the Kibali gold mine in the Democratic Republic of the Congo.
The move suggests the company is continuing with the project despite recent leadership changes and questions over its African strategy.
Kibali produced 98% of the DRC's industrial gold output in 2025 and is expected to operate until at least 2037 under the expansion plan.
Barrick Mining has appointed Thijs Goense to lead the feasibility study for the expansion of the Kibali gold mine in the Democratic Republic of the Congo, signaling that work on the project is continuing despite changes in the company's leadership.
The appointment, announced in late June, comes as Barrick reshapes its growth strategy following the departure of longtime CEO Mark Bristow. Since taking over as interim chief executive, Mark Hill has said the company's next phase of growth will focus primarily on its gold operations in the Americas, raising questions about the future of its African assets.
The decision to appoint a dedicated executive for Kibali's feasibility study suggests the Congolese mine remains part of Barrick's long-term plans.
Goense will oversee the study as the project moves toward the execution phase. Barrick's current plan is to extend Kibali's mine life to at least 2037 by developing the ARK-KCD corridor, home to the site's largest known orebody.
“Kibali was built with a long-term view and has consistently delivered across production, partnerships and reserve growth. We've replaced every we’ve mined and more since Kibali poured its first gold in 2013, and the ARK-KCD corridor shows that there’s still much more to come," Bristow said in July 2025.
Strategy still taking shape
Barrick has provided few updates on the expansion since approving the study, leaving uncertainty over how the project fits into the company's broader strategy.
Kibali is operated by Barrick, which owns 45% of the mine. AngloGold Ashanti holds another 45%, while the remaining 10% belongs to the Congolese state-owned mining company SOKIMO.
Questions about Barrick's future in Africa have also been fueled by a Reuters report in early June that the company had discussed a possible partnership with Endeavour Mining involving some of its African assets. Neither company has confirmed those discussions.
For now, the appointment at Kibali points to continuity rather than a change of course. The mine remains the cornerstone of the DRC's industrial gold sector. In 2025, it accounted for 98% of the country's industrial gold production, with industrial mining contributing 92% of total national gold output.
Aurel Sèdjro Houenou
Some Japanese aluminium buyers have agreed to pay global producers a premium of USD 395 per tonne over the London Metal Exchange benchmark for July-September 2026 shipments, up 12–13 per cent from the previous quarter, according to industry sources.
The premium compares with USD 350–353 per tonne paid for April-June deliveries and marks the third consecutive quarterly increase. It is also the highest since January-March 2015, when premiums touched USD 425 per tonne.
Japan is a major aluminium importer in Asia, making its quarterly premium settlements an important reference for primary metal shipments. The premium is paid on top of the prevailing LME aluminium price.
Another step up from Q2
The latest settlement extends a rise that was already evident in the second quarter. Japanese buyers agreed to pay around USD 350 per tonne for April-June shipments, while global producers had proposed premiums of USD 220–250 per tonne at the end of February. Those proposals were 13–28 per cent higher than the USD 195 per tonne agreed for the preceding quarter.
The jump also brings renewed attention to how physical aluminium is priced. A transaction typically has two parts: the LME cash price, which reflects broader global supply and demand, and a separately negotiated physical premium.
That premium covers freight, insurance and financing costs, but it also reflects how much metal is actually available for delivery in a particular market and during a particular period. When nearby supply becomes harder to secure, the premium can rise even if the underlying LME price follows a different path.
Tight availability strengthens producers' hand
The Q3 2026 increase comes against geopolitical disruptions that have affected aluminium availability, altered supply routes and trade flows, and reduced the amount of spot metal accessible to Asian buyers. Those pressures had not materially eased as Q3 negotiations progressed, leading producers to price offers around continued tightness in the physical market.
Low inventories in LME warehouses have reinforced that pressure. With less exchange-held metal available, buyers have fewer options to fall back on the spot market instead of contracted supply, giving producers greater leverage in negotiations.
Note: This article is published in accordance with an article exchange agreement between Mysteel and AL Circle.
Midas Minerals (ASX:MM1) has extended its copper-silver-lead-manganese mineralised corridor at the Spaatzu prospect in Namibia to at least 800m strike.
Assays confirm mineralisation 300m west of the discovery hole, with standout results from recent reverse circulation (RC) drilling including 52m at 1.19% copper (Cu), 8.70 grams per tonne silver (Ag), and 1.93% lead (Pb) from 148m in hole SPRC062, including 30m at 1.87% Cu and 12.70g/t Ag from 152m.
Other significant intercepts include 33m at 0.76% Cu, 17.80g/t Ag, 1.69% Pb, and 117 parts per million (ppm) molybdenum (Mo) from 18m in SPRC045; and 16m at 0.76% Cu, 26.80g/t Ag, 2.36% Pb, and 215ppm Mo from 205m in SPRC063.
“We’ve identified that the Cu-Ag-Pb-Mo-Mn mineralised corridor at Spaatzu now extends for at least 800m strike,” Managing Director Mark Calderwood says.
“RC drilling is continuing to test shallower IP targets, which have been identified over 2km strike.”
Core drilling has commenced to provide understanding of structural controls at the local scale.
Drilling indicates the copper-silver mineralisation is hosted along a west-northwest-trending fault, with higher-grade mineralisation localised where structures intersect favourable lithologies within the Ombombo Subgroup.
Spaatzu exhibits structural and stratabound styles, with higher-grade copper-silver along structures and broader stratabound mineralisation comprising disseminated copper-lead with minor zinc.
The company currently operates six drill rigs across the Otavi Project, with further drill results pending.
Midas Minerals is a copper and precious metals explorer advancing the flagship Otavi Project in Namibia, alongside the Challa Project in Western Australia and two lithium projects in Canada.
Write to JC Villarba at Mining.com.au
Images: Midas Minerals
https://mining.com.au/midas-touch-continues-at-spaatzu-copper-discovery/
Peru wants to move to the next phase of its economic relationship with China to reduce the risks from trade ties dominated by the export of raw minerals, according to the country’s ambassador, Carlos Vasquez.
He told Tsinghua University’s World Peace Forum in Beijing on Friday that Peru was now seeking investment in the country’s infrastructure as it sought to diversify its economy.
He said a handful of products – including copper, iron and fishmeal – accounted for more than 90 per cent of Peru’s exports to China.
Vasquez said even though the country was currently benefiting from high prices for raw materials “we don’t determine the price, the price is determined by some foreign markets”.
Supported by strong global demand for minerals such as copper, iron and zinc, Peru’s economy grew by about 3 per cent last year and is projected to grow by 3.6 per cent this year.
Vasquez said these commodities had an increasing strategic importance as China expanded its industrial base and accelerated its energy transition, but the situation was “not sustainable in the long term”.
Kumba Iron Ore stock has no new live catalyst in the available search results, so the focus stays on the South African iron ore producer's listing, business model and market context.
By Christina Vaughn, Background & Management desk. Reviewed on July 5, 2026 at 5:54 p.m. ET.
Kumba Iron Ore (ISIN ZAE000013124) remains a key South African iron ore producer with operations tied to mining, processing and export supply. The company trades on the Johannesburg market, and its investor profile is built around ore volumes, cost control and pricing discipline.
Business model first
Kumba's earnings power is closely linked to iron ore prices, rail and port logistics, and the consistency of its shipment schedule. For a US reader, the most relevant anchor is the commodity cycle itself, because iron ore pricing and global steel demand shape comparable miners well beyond South Africa.
Operational levers
The company has long been judged on output quality, operating costs and the reliability of its logistics chain. That mix matters because even modest changes in realized prices or shipping efficiency can move cash generation for a miner like Kumba.
Mining names often trade on the gap between headline commodity prices and the actual margin captured at the pit. Kumba fits that pattern, with production discipline and market access doing as much work as geology.
The product behind the story
Kumba's core product is iron ore, sold into a global supply chain that feeds steelmaking. That makes the business a direct play on industrial demand, freight execution and the quality of the ore body rather than on consumer-brand pricing.
Stock context
As of July 5, 2026, no live price was available in the provided search results, so the article keeps to verified company context and listing structure. Kumba Iron Ore trades in South Africa on the Johannesburg market.