By Piero Cingari
Published on 09/12/2025 - 7:00 GMT+1
Gold soared over 60% in 2025, driven by geopolitical risks, rate cuts, and central bank demand. Many experts see further upside in 2026, with gold's role as a safe-haven asset still firmly intact.
After a historic 2025 that saw gold soar over 60% and break more than 50 record highs, investors are now turning their attention to whether the precious metal can sustain its upward trajectory into 2026.
Despite leading major asset classes in year-to-date performance, putting it on track for its best year since 1979, experts think gold may still have room to climb next year. Others warn that risks remain.
Unlike previous years when single events dominated gold’s trajectory, this year saw multiple drivers at play.
Sustained central bank buying, persistent geopolitical friction, elevated trade uncertainty, lower interest rates, and a weakening US dollar all combined to fuel demand for the metal as a safe-haven asset.
According to the World Gold Council’s latest report, geopolitical tensions contributed roughly 12 percentage points to year-to-date performance, while dollar weakness and slightly lower interest rates added another 10. Momentum and investor positioning accounted for nine points, with economic expansion contributing a further 10.
Central banks also continued to buy aggressively, keeping official-sector demand well above pre-pandemic norms.
Forecasts from the World Gold Council
Looking ahead, the Council expects many of the forces that powered gold’s extraordinary rally in 2025 to remain relevant in 2026.
However, the starting point is now fundamentally different. Unlike at the beginning of 2025, gold prices have already priced in what the WGC describes as the “macro consensus”. That's expectations of stable global growth, moderate US rate cuts, and a broadly steady dollar.
In this environment, the Council notes that gold appears fairly valued. Real interest rates are no longer falling significantly, opportunity costs are neutral, and the strong positive momentum seen in 2025 has begun to fade.
Investor risk appetite remains balanced, rather than tilting decisively toward caution or exuberance.
As a result, in its baseline scenario, the WGC sees gold trading within a narrow range in 2026, with performance likely limited to between –5% and +5%.
But the outlook is far from settled, as three alternative scenarios could shape a different path.
In a "shallow economic slip" — characterised by softer economic growth and additional Fed rate cuts — gold could rise by 5% to 15% as investors shift toward defensive assets, extending the gains of 2025.
In a deeper economic downturn, or "doom loop," gold could rally by 15% to 30%, fuelled by more aggressive monetary easing, declining Treasury yields, and strong safe-haven flows.
Conversely, if the Trump administration’s policies succeed in reigniting growth, a reflation return would likely push yields and the dollar higher, diminishing gold’s appeal.
Under this bearish scenario, gold could decline by 5% to 20%, particularly if investor positioning reverses and central bank demand weakens.
Predictions from Wall Street
Despite a more measured outlook from the WGC, major investment banks continue to predict further upside for gold in 2026.
J.P. Morgan Private Bank projects prices could reach between $5,200 and $5,300 per ounce, citing strong and sustained demand as a key driver.
Goldman Sachs forecasts gold at around $4,900 per ounce by the end of next year, supported by continued central bank buying.
Deutsche Bank offers a wide range of $3,950 to $4,950, with a base case near $4,450, while Morgan Stanley anticipates prices closer to $4,500, although it warns of near-term volatility.
Supporting this optimism is the ongoing accumulation of gold by central banks, particularly in emerging markets, as well as the view that many institutional investors remain underexposed to the metal.
The potential for lower real yields, coupled with global macro risks, continues to make gold attractive as a portfolio hedge.
Nonetheless, risks could cap further gains. A stronger-than-expected US recovery or a rebound in inflation could force the Federal Reserve to delay or reverse rate cuts, boosting real yields and the dollar, two classic headwinds for gold.
A slowdown in ETF flows or central bank purchases could also dampen demand, while increased recycling, particularly in India where gold is used as collateral, could raise supply and weigh on prices.
A constructive path forward
While a repeat of 2025’s extraordinary 60% surge appears unlikely, gold enters 2026 on solid footing.
The fundamental drivers such as macroeconomic uncertainty, central bank diversification, and gold’s role as a hedge against volatility remain intact.
In a world increasingly defined by unpredictability, gold continues to offer investors not just returns, but resilience. The metal may no longer be in the early stages of a rally, but its role as a strategic anchor in uncertain times is far from diminished.
By RFE/RL staff - Dec 08, 2025, 9:00 AM CST
Ukrainian President Volodymyr Zelenskyy was set to meet with key European allies after US President Donald Trump accused him of not reading the latest peace proposal.
The December 8 talks in London follow three days of negotiations between Ukrainian and US officials near Miami as negotiators try to find agreement following the release of a US draft peace proposal last month.
The 28-point plan was seen as heavily favorable to Russia, and Kyiv has pushed back on some of the more strident, hard-line demands that President Vladimir Putin has pushed since before he launched the full-scale invasion of Ukraine in February 2022.
"We are starting a new diplomatic week right now -- there will be consultations with European leaders. First and foremost, security issues, support for our resilience, and support packages for our defense," Zelenskyy said in his nightly address, recorded on a train on December 7.
Zelenskyy's London meetings include Kyiv's biggest backers in Europe: British Prime Minister Keir Starmer, French President Emmanuel Macron, and German Chancellor Friedrich Merz.
Meanwhile, in Washington on December 7, US President Donald Trump criticized his Ukrainian counterpart, saying he was "a little bit disappointed."
"We've been speaking to President Putin and we've been speaking to Ukrainian leaders, including Zelenskyy, President Zelenskyy, and I have to say that I'm a little bit disappointed that President Zelenskyy hasn't yet read the proposal, that was as of a few hours ago," Trump told reporters.
Ukraine's chief negotiator, Rustem Umerov, said he would report to Zelenskyy on the latest developments on December 8.
One of Kyiv's main goals in the Miami talks was to obtain "all drafts of current proposals in order to discuss them in detail with the President of Ukraine," Umerov wrote on X. "Today, we will provide the President of Ukraine with full information on all aspects of the dialogue with the American side and all documents."
Details of the proposal following adjustments to the 28-point plan have not been released publicly, and Trump said nothing about its content. US and Ukrainian officials have indicated in recent days that key sticking points included control over territory and security guarantees for Ukraine.
Ukrainian political analyst Volodymyr Fesenko said that while "we don't know don't know exactly what the United States is proposing," a clause from the 28-point plan obliging Ukraine to withdraw its forces from territory it still controls in the Donetsk region could be a major barrier to any agreement.
"The majority of Ukrainians, despite all current difficulties, are unlikely to accept the idea that Ukraine voluntarily leaves the Donbas without receiving anything in return, not even real guarantees of a cease-fire," Fesenko, head of the Penta Center for Political Studies in Kyiv, told Current Time.
In uncompromising comments last week, Putin said Russia would seize control of the Donbas -- the Donetsk and Luhansk regions -- "by military or other means," suggesting Moscow would not agree to a deal that leaves any part of the region in Ukrainian hands.
He said the same of the part of Ukraine once known in Russia as "Novorossia," indicating Moscow might also demand full control over the Zaporizhzhya and Kherson regions. Ukraine still holds large parts of the two southern regions, including their capitals.
Following the negotiations in Miami, Zelenskyy said he had spoken with US special envoy Steve Witkoff and Trump's son-in-law Jared Kushner, who have led the negotiations on behalf of the White House.
"The American envoys are aware of Ukraine's core positions, and the conversation was constructive though not easy," Zelenskyy said.
Meanwhile, Russia continued its air strikes on Ukrainian infrastructure as winter temperatures fall.
Russian forces attacked Okhtyrka in the Sumy region on the night of December 8, according to regional authorities.
Governor Oleh Hryhorov said seven people were injured in a strike on a nine-story residential building, all of whom were taken to a hospital.
According to Ukrainian emergency officials, firefighters extinguished a blaze on the second to fifth floors and evacuated 35 residents, rescuing seven people, including one child, from damaged apartments.
In Chernihiv, an apartment building was damaged as a result of the fall of a Russian drone. Three people were injured, one of whom was hospitalized, emergency officials said in a post to Telegram.
Ahead of Zelenskyy's planned visits to Brussels and Rome this week to discuss the peace process, the Ukrainian leader spoke by phone with Italian Prime Minister Giorgia Meloni.
Meloni reaffirmed Rome's solidarity with Kyiv and pledged to supply emergency aid to support Ukraine's energy infrastructure and its population, according to a statement from her office.
The office added that Italy will deliver additional supplies, including generators, to support energy infrastructure and the Ukrainian population, and that the goal remains a lasting and just peace.
Our balance sheet shows that the surplus in the oil market is set to grow in 2026, following OPEC+'s decision to unwind supply cuts at a quicker-than-expected pace. Non-OPEC supply is also expected to grow at a healthy clip despite this year's price weakness.
According to our balance, we will see a surplus of more than 2m b/d in 2026. Global supply is set to grow by 2.1m b/d next year, while demand looks to be more modest at around 800k b/d.
The peak of this surplus is expected in the first half of 2026. However, with our balance sheet showing a surplus in every quarter next year, global oil stocks should continue to build through the year, keeping downward pressure on prices. We forecast that ICE Brent will average US$57/bbl over the year, with the key assumption being that Russian oil flows continue unabated despite US sanctions on Rosneft and Lukoil.
The scale of the surplus and the expected build in inventory should put the forward curve under additional pressure, pushing it deeper into contango. The front end of the curve has held up better than expected as supply risks provide support. In addition, the growing amount of Russian oil at sea not making its way to the destination suggests the spot market may be tighter than what the oil balance suggests at the moment.
This is a key risk to our bearish view. Clearly, if sanctions prove more effective than we and the market expect, this leaves upside for oil prices. However, Russia has managed to keep oil flowing since 2022 despite sanctions and embargoes. We suspect the use of intermediaries and the larger discounts available to buyers of Russian crude oil should see flows continue.
Downside risks include ongoing peace talks. If they lead to the lifting of certain sanctions on Russia, much of the supply risk hanging over the oil market will ease. While we don’t believe such a scenario would dramatically increase Russian oil supply, given that it’s held up well despite sanctions, removing this risk could push Brent down to the low $50s.
https://think.ing.com/articles/bearish-oil-outlook-but-clear-upside-risks/
British Petroleum is set to ramp up oil and gas production in northern Iraq, with plans to lift output at four key Kirkuk-area fields as part of a major redevelopment push backed by Baghdad. According to Iraqi Oil Ministry Undersecretary Bassim Khudair, BP aims to boost crude production to around 450,000 barrels per day and natural gas output to 500 million cubic feet per day from the fields under its management. The contract also prioritizes eliminating routine gas flaring—one of Iraq’s most persistent energy and environmental challenges.
The move follows Iraq’s formal activation of its development contract with BP in October. At the time, Oil Minister Hayan Abdel-Ghani said the agreement targets an initial production level of 328,000 bpd, marking a significant step toward rehabilitating some of the country’s oldest producing assets. The deal, signed earlier this year, will see BP work alongside Iraq’s North Oil Company (NOC) and North Gas Company (NGC) across the Baba and Avana domes of the Kirkuk field, as well as the Jambour, Bai Hassan, and Khabbaz fields.
Iraqi officials say the redevelopment effort will play a central role in boosting national production capacity while tackling chronic gas wastage. In June, Oil Ministry Undersecretary for Gas Izzat Ismail noted that gas-capture and development projects awarded to BP, TotalEnergies, and others could save Iraq up to $17 billion annually by reducing the vast volumes of natural gas burned off during oil production.
The four Kirkuk-area fields collectively hold around five billion barrels of proven reserves, according to NOC Director General Amer Khalil. Their expansion is expected to support Iraq’s broader plan to raise output in line with its status as the world’s fifth-largest holder of recoverable oil reserves—estimated at 145 billion barrels.
Over the past two years, Iraq has intensified efforts to attract foreign investment into its energy sector, signing multiple contracts aimed at reviving aging fields, increasing production, and capturing more of the gas currently wasted through flaring. BP’s expanded role in Kirkuk marks one of the most significant steps yet in that strategy.
https://finance.yahoo.com/news/bp-targets-450-000-bpd-171117980.html
Oil is making a strong comeback as geopolitical agendas shape energy forecasts worldwide. OPEC, founded in 1960, predicts global oil demand will rise to 122.9 million barrels per day by 2050, while the International Energy Agency (IEA) expects a peak around 2030 followed by a decline. These conflicting projections underscore how energy outlooks have become political, influenced by climate policies and economic priorities. Under President Trump, U.S. energy policy has reversed green initiatives, accelerating drilling in New Mexico and halting offshore wind projects, while global shipping and petrochemical sectors continue to rely heavily on oil. Despite cheaper renewable technologies, rising demand in fast-growing economies like India and persistent oil use in transportation andaviation signal that fossil fuels will remain central to global energy for decades—posing serious challenges for climate goals.
https://www.dw.com/en/peak-oil-experts-differ-on-when-demand-will-reverse/video-75035252
A Dutch court has frozen the assets of TurkStream operator South Stream Transport as part of a bid by Ukrainian businesses to recover losses stemming from Russia’s 2014 annexation of Crimea, the Vedomosti newspaper reported Monday.
DTEK Krymenergo, an energy company owned by Ukrainian billionaire Rinat Akhmetov, has sought compensation in several international courts after Russian authorities seized its assets in Crimea.
In November 2023, an arbitration court in The Hague ordered Russia to pay DTEK $208 million, plus interest and legal fees. Russia appealed that ruling, and the case remains before a Dutch appellate court.
According to Vedomosti, the Amsterdam District Court ordered the seizure of South Stream Transport’s assets in July as part of DTEK’s efforts to enforce the compensation. The value of the assets frozen was not disclosed.
DTEK had sought the freeze on the grounds that South Stream Transport’s interests were closely tied to Gazprom, which owns a controlling stake in the pipeline operator. South Stream Transport appealed the ruling in August, arguing it operates independently of the Russian state, Vedomosti reported.
South Stream Transport was originally created to build the South Stream natural gas pipeline beneath the Black Sea, a project that was scrapped after Russia’s 2014 annexation of Crimea. The company later switched to constructing the TurkStream pipeline, which was completed in 2020.
DTEK, South Stream Transport and Gazprom did not respond to Vedomosti’s requests for comment.
The gas carrier Valera (formerly known as "Veliky Novgorod") with a cargo of liquefied natural gas (LNG) from Gazprom's project "LNG Portovaya" in the Baltic Sea has docked for unloading at the Beihai terminal, located in the port of Teshan, China. This was reported by Reuters, citing data from LSEG. The complex, with a capacity of 1.5 million tons of LNG per year, was launched in September 2022. Its products were purchased in Turkey, Greece, China, Spain, and Italy, but in February 2025, sanctions began to apply to "LNG Portovaya." Since then, the plant has been unable to sell any batches until China agreed to help. In October, another batch of fuel from "LNG Portovaya" was transshipped from the gas carrier Perle to another vessel off the coast of Malaysia, but it is unknown whether the delivery was completed. In August, the Beihai terminal received a batch of LNG from another sanctioned Russian gas project — "Arctic LNG-2," which is being developed by Novatek. Production began in 2023, and shipments were planned for early the following year. However, U.S. pressure prevented any deals from being made before the cargo was sold to China. At the same time, agency sources claim that Novatek agreed to supply batches at a 30-40 percent discount from the market price, as the company was unable to find another buyer. The final price of LNG from "LNG Portovaya" has not been specified. The agreement of Chinese buyers to deal with the sanctioned project led in November to the first monthly increase in Russian LNG supplies in annual terms since the beginning of the year. Nevertheless, as of the end of the first 11 months, the export of this type of fuel decreased by two percent.
Oil and gasoline prices are expected to decline next year, according to the latest forecast from the Energy Information Administration (EIA).
The EIA published its November Short-Term Energy Outlook last month, which projected that the price of Brent crude oil will decline from $69 a barrel in 2025 to $55 a barrel next year. That would be well below the $81 per barrel that prevailed in 2024.
Gas prices are also projected to continue their decline into next year. Retail gas prices averaged $3.30 a gallon in 2024 and are at $3.10 a gallon this year, but are projected to decline further to $3 a gallon in 2026, according to the EIA's report.
U.S. production of crude oil picked up this year and is expected to remain at the level in 2026, with the EIA finding the U.S. produced 13.2 million barrels per day in 2024. The agency projected crude oil production will be 13.6 million barrels per day this year – the same as in 2026.
Natural gas prices are expected to continue to rise after a notable increase this year. The natural gas price at Henry Hub was $2.20 per million British thermal units (BTUs) in 2024 and rose to $3.50 this year, while the EIA forecasts its rise will continue to $4 in 2026.
In recent years, the U.S. has become the world's largest exporter of liquefied natural gas (LNG), holding the top position in 2023 and 2024, and export levels have continued to rise.
EIA noted that the U.S. exported 12 billion cubic feet per day of LNG last year, with that figure rising to 15 billion cubic feet per day in 2025 and 16 billion cubic feet per day next year.
The EIA's report also broke down the share of electricity generation by source across the U.S., which showed natural gas as the largest source with a 40% share in 2025 and 2026, down slightly from 42% a year ago.
The share of electricity generated by renewables – a category which includes hydropower, solar, wind, geothermal and biomass – accounted for 23% in 2024 and has been on an upward trend, with EIA putting its 2025 share at 24% and forecasting a rise to 26% next year.
Nuclear power's share of the power mix decreased slightly from 19% to 18% from 2024 to 2025, while it's expected to hold steady at 18% next year.
Coal's share of total electricity generation has also been relatively flat, with EIA reporting it was at 16% last year, 17% in 2025, and projecting a return to 16% next year.
The report also touched on emissions of carbon dioxide (CO2), which rose slightly from 4.8 billion metric tons in 2024 to 4.9 billion metric tons this year. EIA forecasts it will return to 4.8 billion metric tons next year.
Posted on 8 Dec 2025
XCMG Machinery says it has commenced the shipment of a fleet of 230 t diesel-electric drive XDE260 mining trucks from its intelligent manufacturing base in Xuzhou, China. The equipment is destined for the SimFer operated mine, which is extracting Blocks 3 & 4 of the Simandou iron ore project in Guinea, West Africa, with Winning Consortium Simandou mining Blocks 1 & 2.
The Chinese OEM said it marks a significant milestone, showcasing Chinese manufacturing excellence at the world’s largest untapped high-grade iron ore reserve. SimFer SA is a joint venture between Rio Tinto, CIOH (a Chinalco-led consortium), and the Government of Guinea. XCMG: “This shipment signifies that XCMG and Rio Tinto are working together more closely than ever, deepening their collaboration in the field of high-end mining equipment.
The delivery is part of a major equipment supply contract valued at nearly RMB 800 million signed in 2024, including the provision of large-capacity mining trucks, motor graders, and select auxiliary equipment.
“This collaboration is a profound partnership based on our shared commitment to sustainable development,” said Yang Dongsheng, Chairman of XCMG. “XCMG has always been driven by technological innovation, striving to provide global clients with smarter, more environmentally friendly integrated solutions.”
The newly delivered XDE260 mining truck is one of XCMG’s flagship models and these particular units have been engineered specifically for West Africa’s operating conditions, aimed at to maximising productivity while minimising environmental impact.
To ensure optimal operational efficiency, XCMG has deployed a dedicated service team of over 100 specialists, offering localised, round-the-clock technical support. “A multinational expert team from China, Guinea, and Australia is benchmarking against global best practices in mining operations, ensuring the Simandou mine achieves its planned production capacity efficiently and sustainably throughout its lifecycle.”
According to a spokesperson for XCMG Simandou Company, in addition to delivering advanced mining equipment, XCMG will expand cooperation in vocational education and professional training. “Together, we aim to fulfil our shared social responsibilities and empower local employees by enhancing their skills and fostering career development,” the spokesperson said.
XCMG concluded: “From exporting high-end mining machinery to integrating China’s intelligent manufacturing capabilities with international standards, XCMG is accelerating its evolution – from global expansion to sustainable market leadership. Moving forward, XCMG will remain innovation-driven and customer-focused, providing robust support for the mining industry’s low-carbon transition and helping shape a more sustainable future for global resources.”
https://im-mining.com/2025/12/08/xcmg-230-t-class-mining-trucks-depart-for-simandou-project/
Zambia aims to more than triple its copper production to 3 million tonnes per year by 2031 as new projects advance. This expansion aligns with rising exploration spending driven by juniors such as Koryx Copper.
Koryx Copper announced in a December 5 statement that it intends to launch its first drilling programs in 2026 on its Luanshya West and Mpongwe copper projects in Zambia. The update comes as the company continues to advance the Haib copper project in Namibia and signals its plan to accelerate its investments in the red metal across Africa.
Haib stands as Koryx’s flagship asset. The project can produce 88,000 tonnes of copper annually over a 23-year mine life, based on an estimated $1.55 billion investment. The company plans to optimise these metrics in the coming months following the preliminary economic assessment (PEA) it released in September. Koryx expects its development efforts to extend to its Zambian assets during the same period.
Koryx plans to use the Luanshya West drilling program to test several targets identified during 2025 fieldwork. At Mpongwe, the company plans to analyse results from a sampling campaign before launching follow-up drilling in the second quarter of 2026. The company currently controls 51% of both Zambian projects, which sit in the Copperbelt region that hosts major mines such as Kansanshi and Sentinel operated by First Quantum Minerals.
These initiatives position Koryx Copper to play a growing role in Zambia’s mining sector, which stands as Africa’s second-largest copper producer after the Democratic Republic of Congo. The announcement also comes during a strong year for the metal. Trading Economics data show that copper prices rose about 30% since January and traded at $5.4 per pound.
Koryx has not yet disclosed the cost or scope of the upcoming exploration campaigns. The company raised C$25 million (about $18 million) at the end of July to support its plans. Unlike Haib, the Zambian projects remain at an early stage, and the discovery of an economically viable deposit remains uncertain.
This article was initially published in French by Aurel Sèdjro Houenou
Adapted in English by Ange Jason Quenum
08 December 2025 09:34:35
The FTSE 100 miner had sought approval to amend its 2024 and 2025 long-term incentive plans to guarantee a minimum vesting of 62.5% of share awards for chief executive Duncan Wanblad and other top executives if the Teck merger were completed.
The proposed changes, worth an estimated £8.5 million for Wanblad, drew criticism from major investors and proxy advisers, including Legal & General Investment Management and Institutional Shareholder Services, which said the guaranteed payouts undermined performance-based criteria and represented poor governance practice.
After what it described as “extensive discussions” with shareholders, Anglo said the pay amendment had been removed from the resolutions to be voted on at Tuesday’s meeting, where shareholders would decide only on the allotment and issue of new shares linked to the Teck deal.
The company added that it would continue to engage with investors on executive remuneration ahead of its 2026 annual meeting.
Analysts at Peel Hunt said the withdrawal of the bonus proposal “should ensure strong backing” for the merger itself, the Financial Times reported.
The merger with Teck, valued at between $50bn and $53bn, would create one of the world’s largest producers of mined copper and mark another step in Anglo’s broad restructuring, which included plans to offload De Beers and its coal, nickel and platinum divisions.
The new group, to be renamed Anglo Teck, would be headquartered in Vancouver and listed in both London and Johannesburg.
Anglo stressed that the combination “does not change South Africa’s sovereignty, operations or obligations” and that it remained “deeply committed” to its South African businesses, including Kumba Iron Ore.
The company said the enlarged group would continue investing in projects such as the ZAR 11bn (£486.46m) UHDMS expansion at Kumba and contribute ZAR 600m to the Junior Mining Exploration Fund.
At 0918 GMT, shares in Anglo American were down 0.67% in London at 2,960p.
Reporting by Josh White for Sharecast.com.
https://www.investments.halifax.co.uk/research-centre/news-centre/article/?id=21340999&type=bsm
The Democratic Republic of Congo (DRC) is accelerating the adoption of advanced technologies to streamline mineral exploration, boost production and enhance worker safety. In December 2025, the country signed a Strategic Partnership Agreement with the U.S, under which American companies will provide technical assistance, funding and technology to optimize the mining value chain. With an estimated $24 trillion in mineral reserves and 90% of the DRC’s mineral reserves undeveloped, technology will play a critical role in strengthening the country’s position as a global supplier of critical minerals.
In addition to the agreement signed with the U.S., the DRC entered a series of partnerships with global entities to enhance technology rollout across the mining sector. The country selected Japanese technology firm Solafune to integrate an AI-based geo-mapping solution within its nation-wide mineral mapping program. State agency the Mining Cadaster also announced the rollout of AI-enabled drones to improve surveillance and oversight of mining activities. The DRC also partnered with U.S. startup KoBold Metals to implement data-driven exploration projects across lithium, copper and cobalt sites, including the Manono Lithium Project. KoBold Metals will digitize the country’s historical geological archives, enabling enhanced access to critical data that will support project development with international partners. With the DRC seeking to capitalize on the growing global demand for critical minerals, these initiatives will help identify the location, quantity and quality of mineral deposits, enabling faster and more targeted resource exploitation to drive GDP growth.
Meanwhile, the DRC is using technology to curb illicit mineral trading. The country launched E-Trace, a digital mineral traceability platform designed to ensure responsible and sustainable mining practices, track minerals and integrate proceeds into the formal economy. Furthermore, with worker safety central to the sustainable growth of the industry, project operators are enhancing the safety of their operations with AI-enabled solutions. For instance, mining company Glencore is using technology company Sandvik’s proximity detection and collision avoidance technology to detect and avoid collision across its underground operations.
As the DRC continues to roll out tech-enabled mining initiatives, the upcoming African Mining Week, scheduled for 14–16 October 2026, will bring together global tech providers and DRC mining stakeholders. The event will feature high-level panels and project showcases, highlighting technological innovation across the mining value chain and emerging opportunities across the DRC’s mining sector.
https://energycapitalpower.com/u-s-agreement-accelerates-drcs-tech-enabled-mining-growth/
Iron ore prices are under pressure in early December 2025. At the same time, spot January contracts on the Singapore Exchange experienced a greater decline – by 2.3% over the period from November 28 to December 5, to $103.3/t, while January futures on the Dalian Exchange fell by 0.9% – to $111.12/t.
The first week of December saw fluctuations in spot prices. At the beginning of the month, the market was supported by a weak dollar and expectations of a cut in the US discount rate, which stimulated an increase in indices. However, by the end of the week, prices had fallen, reflecting pressure from limited trading activity and reduced purchases by steel mills ahead of the holidays.
Data from Chinese ports show an increase in iron ore stocks and a decline in average daily shipments, signaling weaker demand. At the same time, rebar production in eastern China has regained profitability, supporting partial price stabilization, while central China is seeing a concentration of scheduled maintenance of blast furnaces and a reduction in steel production.
Short-term market optimism is driven by expectations of economic measures in China, particularly the Central Economic Conference to be held in mid-December. In addition, the start of ore shipments from the Simandou project in Guinea has the potential to impact supply next year, although the first shipments to China are not expected until early 2026.
Seasonal factors and structural changes in steel production remain the main factors putting pressure on the market. Despite short-term fluctuations and expectations of political stimulus, the market is fundamentally in a phase of moderate weakness due to declining steel production, accumulation of stocks in ports, and limited purchasing activity by steel mills.
It should be noted that Fitch recently revised its price assumptions for iron ore for 2025-2026 upward, reflecting continued healthy global demand and higher starting prices. The average price for iron ore with 62% iron content (CFR China) in 2025 will be $100/t, compared to the previous forecast of $95/t, and in 2026 – $90/t instead of the previously expected $85/t.
https://gmk.center/en/news/iron-ore-prices-stagnate-in-early-december/amp/