Metals & Mining
Anglo American posts $3.7B loss on fresh De Beers write-down. Anglo American (LON:AAL) posted a $3.7B loss after taking a fresh $2.3B write-down on De Beers, as a deepening crisis in the global diamond market continues to weigh on the miner’s bottom line.
Alcoa secures federal approval for mining in Western Australia under the EPBC Act. The Australian Federal Government has granted Alcoa Corporation, a leading producer of bauxite, alumina and aluminum, the modernized framework of mining activities in the Western Australian region.
U.S. and Uzbekistan sign critical minerals pact. The U.S. government has signed an agreement with Uzbekistan to secure better access to the Central Asian country’s critical minerals, as U.S. President Donald Trump moves to counter China’s dominance of crucial resources and their supply chains.
Congo state firm strikes deal to sell copper from Glencore mine. The Democratic Republic of Congo struck a deal to tender copper from a major Glencore Plc operation in the country, expanding the state miner’s trading of a metal that’s key to the energy transition.
Rio Tinto gains control of Nemaska, eyes $300M investment. Rio Tinto (ASX, LSE, NYSE:RIO) said it plans to invest more than $300M this year to expand its lithium business in Quebec after assuming control of Nemaska Lithium.
Odisha, India attracts $7.4B in renewable energy investments. Odisha has drawn renewable energy investment commitments of $7.4B for the development of 6.8 gigawatts, announced on the opening day of the third edition of the Odisha Renewable Energy Investor Conclave.
Transportation & Logistics
Norfolk Southern, CMA CGM launch new ‘truck-like’ intermodal service. Norfolk Southern and ocean carrier CMA CGM are partnering on a new intermodal option combining rail’s network reach with the flexibility of truckload service.
Union Pacific, Norfolk Southern set new date to re-file merger application. Union Pacific and Norfolk Southern told federal regulators they will file a revised application for their blockbuster merger by April 30.
TL rates up again without help from volume. Volumes were down but freight rates continued to move higher in January, according to monthly data from Cass Information Systems.
UPS identifies 22 package facilities for closure. United Parcel Service this year plans to close 22 package sortation centers with union employees in 18 states, including facilities in Dallas, Miami, Baltimore and Atlanta, according to court documents filed last week.
Energy
ConocoPhillips considers selling Permian assets worth $2B, Bloomberg News reports. ConocoPhillips is exploring a sale of some of its Permian Basin assets as part of a broader streamlining of its portfolio, Bloomberg News reported.
Trump EPA to weaken rule limiting harmful mercury, air toxins from coal plants. The Trump administration announced it will roll back clean air regulations limiting mercury and hazardous toxins from power plants, saying it will boost baseload energy, while public health groups warn it will harm America's most vulnerable.
Trump lauds Japan’s pledge to invest $36B in U.S. oil, gas and critical mineral projects. U.S. President Donald Trump has welcomed Japan’s pledge to invest nearly $36B in oil, gas and critical mineral projects in Texas, Ohio and Georgia.
U.S. refiners Phillips 66, Citgo seek to buy crude directly from Venezuela, sources say. The U.S. eased sanctions on Venezuela's energy sector, issuing two general licenses that allow global energy companies to operate oil and gas projects in the OPEC member and for other companies to negotiate contracts to bring in fresh investments.
Canada to boost investments in Ukraine's energy sector. President Donald Trump ordered the Defense Department to purchase electricity from coal-fired power plants in his latest effort to boost the coal sector. The move, which was announced at the White House as an executive order, calls for the Pentagon to form purchase agreements to buy electricity from coal-fired power plants for an unspecified amount.
Indonesia, U.S. firms sign over $7B in trade, investment deals. Libya awarded oil and gas exploration blocks to foreign oil companies, including Chevron, Eni, QatarEnergy, and Repsol, in its first licensing round in nearly two decades as it seeks to revitalize the sector despite ongoing political division.
EPA will revoke ‘endangerment finding’ that underpins all climate regulation this week. The Environmental Protection Agency will revoke a critical scientific finding that undergirds the U.S. government’s climate regulations and ability to regulate greenhouse gases.
Others
Ruling to set off scramble for refunds. Officials at the Federal Reserve signaled no rush to restart interest rate cuts after pausing reductions last month, according to minutes from January’s meeting. In fact, several policymakers even went so far as to raise the possibility of rate increases if inflation stayed stubbornly high.
Fed minutes show no rush to restart rate cuts, and even possibility of hikes. Officials at the Federal Reserve signaled no rush to restart interest rate cuts after pausing reductions last month, according to minutes from January’s meeting. In fact, several policymakers even went so far as to raise the possibility of rate increases if inflation stayed stubbornly high.
Elon Musk’s xAI gets $3B investment from Saudi-backed A.I. firm. Saudi Arabia’s state-backed artificial intelligence company, Humain, said that it had invested $3B in Elon Musk’s xAI, deepening the country’s financial ties with the tech billionaire.
