Mali's military government is threatening not to renew Barrick Gold Corp.'s Loulo mine permit, expiring in 2026, amid disputes over economic benefits. The government accuses Barrick of not honoring a previous agreement, while Barrick proposes a financial settlement to resolve the issue. The tensions arise from Mali's new mining code, aiming to increase state revenue and local involvement in mining projects. The situation reflects broader efforts by Mali to renegotiate mining contracts following a 2020 coup.

Palladium prices surged by 9.5% following the US proposal to the Group of Seven allies to consider sanctions on Russian exports of the metal. The Biden administration is exploring new strategies to pressure President Vladimir Putin's war efforts. Russia's MMC Norilsk Nickel PJSC, the largest palladium producer, is significantly impacted, as it accounts for around 40% of global output. The potential sanctions are part of broader discussions among G-7 finance officials in Washington.

Palladium prices surged by 9.5% following the US proposal to the Group of Seven allies to consider sanctions on Russian exports of the metal. The Biden administration is exploring new measures to pressure President Vladimir Putin's war efforts. Russia's MMC Norilsk Nickel PJSC, the largest palladium producer, could be significantly impacted, as it accounts for about 40% of global output. The potential sanctions are part of broader international efforts to address the ongoing conflict involving Russia.

The Democratic Republic of Congo's state-owned miner, Gecamines, has submitted a bid for Chemaf Resources Ltd.'s unit, following its opposition to a previous sale to China's Norin Mining Ltd. Chemaf, backed by Trafigura Group, is focused on closing the deal with Norin to address financial obligations. The move by Gecamines reflects Congo's efforts to gain more control over its mining sector, where China is a dominant player. Chemaf's Mutoshi project is poised to become a major cobalt mine, crucial for electric vehicle batteries. The outcome of this bid could shift the dynamics of Congo's mining industry.

Bank of Montreal’s capital reserves will increase in the fourth quarter following a legal victory related to its involvement in a multi-billion-dollar Ponzi scheme in Minnesota.

Rail workers, represented by the Teamsters, are strongly opposing the federal government's decision to mandate their return to work amidst an ongoing lockout by CPKC. The conflict highlights tensions between labor rights and government intervention in essential services.

Cathie Wood expresses optimism about the future of stocks tied to Artificial Intelligence, suggesting that despite recent market highs driven by technology shares, there is still significant potential for further gains.

Sibanye Stillwater Ltd. experienced a $2 billion loss in the previous year, primarily due to an impairment at its US palladium mine. This contrasts with a $1.1 billion profit from the prior year. The mining company, led by Neal Froneman, has diversified into platinum-group metals and battery metals but faces challenges due to declining metal prices. Sibanye announced cost-cutting measures to save around $375 million and acknowledged potential further restructuring if low commodity prices continue. The company's gold mines have returned to profitability, despite job cuts across its operations.

South Africa's platinum sector is facing a severe crisis with plummeting metal prices leading to job cuts and significant profit erosion. The industry, which represents about 70% of global output, has seen the four largest producers, Sibanye Stillwater, Anglo American Platinum, Impala Platinum Holdings, and Northam Platinum, report dismal earnings. Job cuts are politically sensitive as the African National Congress heads into a challenging election. Amplats is in talks that may affect 3,700 jobs, Sibanye cut 2,600 positions, and Implats shed over 1,000 jobs. Profits have sharply declined from record highs two years ago, with palladium and rhodium prices falling 44% and 63%, respectively. The miners are reducing costs and spending, with Amplats aiming for 5 billion rand in savings and Implats planning to cut expenditure by half a billion dollars. Despite the downturn, significant production cuts have not been announced, but continued low prices may force shaft closures.

China's battery industry is leveraging a surplus in the global cobalt market to alter the commodity's pricing mechanism. Increased cobalt production in the Democratic Republic of Congo and Indonesia has led to a price decline and enabled Chinese refineries to negotiate sales based on the local price of cobalt sulphate, a departure from the traditional pricing against refined cobalt metal. Top producers CMOC Group Ltd. and Eurasian Resources Group have adopted this new pricing model, while Glencore Plc has resisted. The shift reflects broader changes in the battery materials sector and the Chinese industry's ongoing efforts to gain more control over commodity pricing.