2025-11-23 11:56
Nov 23 (Reuters) - BHP Group (BHP.AX) , opens new tab said on Monday it is no longer pursuing a potential combination with Anglo American (AAL.L) , opens new tab after preliminary discussions with the rival miner's board. BHP had made a renewed takeover bid for Anglo American, a source familiar with the matter told Reuters on Sunday, just months after the London-listed company announced merger plans with Canada's Teck Resources (TECKb.TO) , opens new tab to create a global copper-focused heavyweight. Sign up here. Anglo American declined to comment on Sunday. Anglo American's market capitalisation is about $41.80 billion, while BHP's is around $132.18 billion, based on LSEG data. In September, Anglo American revealed plans to merge with Teck in an all-share transaction, marking the sector's second-biggest M&A deal ever. In May 2024, BHP scrapped a $49 billion bid for Anglo that would have boosted the Australian miner's holdings of copper, the metal seen as essential for the transition to greener energy. If the BHP/Anglo deal had gone ahead, the combined entity would have been the world's largest copper producer, with a total annual production of around 1.9 million metric tons. The new Anglo Teck group is expected to have a combined annual copper production capacity of about 1.2 million tons, still second to BHP. https://www.reuters.com/business/bhp-has-made-renewed-bid-approach-anglo-american-bloomberg-news-reports-2025-11-23/
2025-11-23 09:37
HONG KONG, Nov 23 (Reuters) - Wu Qixiu, a former official in China's finance ministry, has been expelled from China's Communist Party and dismissed from public office for corruption-related offences, China's disciplinary body said on Sunday. Sign up here. https://www.reuters.com/world/asia-pacific/former-finance-ministry-official-expelled-chinas-communist-party-2025-11-23/
2025-11-23 07:25
Ukraine strikes Moscow region power station Fire sparked, heating cut off for residents Backup power and heating units being deployed Video shows massive balls of fire - Russian media MOSCOW, Nov 23 (Reuters) - Ukraine struck a heat and power station in the Moscow region on Sunday with drones, triggering a major fire and cutting off heating for thousands in one of Kyiv's biggest attacks to date on a power station deep inside Russia. In the fourth year of the deadliest European conflict since World War Two, Russia has been pummelling Ukraine's electricity and heat infrastructure while Kyiv has up until now mostly focused on trying to knock out Russia's oil refineries, crude terminals and pipelines. Sign up here. But early on Sunday, Ukrainian drones struck the Shatura Power Station, about 120 km (75 miles) east of the Kremlin, Moscow region governor Andrei Vorobyov said. Video footage on Telegram showed balls of flames and black smoke rising into the night sky from the power station. Reuters was able to confirm the location, though not the date of the video. "Some of the drones were destroyed by air-defence forces. Several fell on the territory of the station. A fire broke out at the facility," Vorobyov said. Vorobyov said that backup power had been switched on and that mobile heating systems were being deployed to the area where the temperature was around freezing point. "All efforts are being taken to promptly restore heat supply," Vorobyov said. The town of Shatura has a population of about 33,000. One local resident said that there was no heating. Three transformers at the power station caught fire, the Kommersant newspaper cited the emergencies ministry as saying. There was no immediate comment from Ukraine. In recent weeks and months, there have been repeated power and heat outages in parts of Ukraine due to Russian attacks. Ukraine has tried to undermine Russia's war economy by targeting its oil revenues. Ukraine has also hit some power and heating installations in Ukrainian regions controlled by Russian forces and in Russian regions neighbouring Ukraine, but has thus far not inflicted major damage on electricity and heat stations serving Moscow and the surrounding region, which has a population of more than 22 million. Russia's defence ministry said on Sunday it had downed 75 Ukrainian drones, including 36 over the Black Sea and several over the Moscow region. Russia's Vnukovo airport halted flights on Sunday for about an hour before restoring them. The Shatura power station, one of Russia's oldest, was founded under Vladimir Lenin after the Bolshevik revolution, and used to run on peat. It now uses mostly natural gas. https://www.reuters.com/world/europe/ukraine-strikes-russian-power-heat-station-moscow-region-russian-official-says-2025-11-23/
2025-11-23 06:34
Nov 23 (Reuters) - Canadian Prime Minister Mark Carney and German Chancellor Friedrich Merz discussed the war in Ukraine and situation in Gaza on the sidelines of the G20 summit in South Africa, the two countries said in a joint statement on Sunday. The two leaders reaffirmed support for Ukraine and emphasized that any agreement must involve Kyiv directly, protect its fundamental interests and include concrete security assurances. Sign up here. On Gaza, Carney and Merz reiterated support for the Comprehensive Peace Plan to end the war and also agreed on the importance of allowing large-scale humanitarian aid to enter. The two leaders also talked about collaboration in areas such as critical minerals, clean energy, artificial intelligence, aerospace and defense. https://www.reuters.com/world/americas/canada-pm-german-chancellor-merz-discuss-ukraine-gaza-g20-sidelines-2025-11-23/
2025-11-23 00:48
SYDNEY, Nov 23 (Reuters) - Thousands of people in Australia's Northern Territory were without power on Sunday after a tropical cyclone brought destructive winds to the region, including capital Darwin, overnight. Fina, a category three cyclone, was on Sunday clocking wind gusts of up to 205 kph (127 mph) as it moved away from Darwin after passing the city late on Saturday as a "severe tropical cyclone", the nation's Bureau of Meteorology said. Sign up here. For residents of Darwin, population of around 140,000, Fina conjured painful memories of Cyclone Tracy, which wiped out much of the city on Christmas Day 1974, killing 66 people, in what was one of Australia's worst natural disasters. Chief Minister Lia Finocchiaro said about 19,000 people had lost power due to Fina, which had also caused property damage and submerged roads, but resulted in no injuries to residents. "This cyclone saw a territory that was united and prepared for what was to come," Finocchiaro said in a media conference televised from Darwin. Authorities urged residents of Darwin, a northern garrison city, to stay clear of downed power lines, as crews started damage assessments. Darwin International Airport, which closed on Saturday as a precaution over Fina, said on Sunday it was "working to re-establish operations as soon as it is safe to do so". Category three tropical cyclones, two levels below the highest danger rating, typically damage structures, crops and trees and cause power failures, according to the weather bureau. In March, ex-tropical cyclone Alfred hit neighbouring Queensland, closing schools and leaving hundreds of thousands of people without power. https://www.reuters.com/business/environment/tropical-cyclone-fina-strikes-australias-northern-territory-shuts-airport-2025-11-23/
2025-11-23 00:33
Nov 22 (Reuters) - Britain on Saturday rolled out a critical minerals strategy designed to reduce dependence on foreign suppliers by 2035, with targets to source 10% of domestic demand from UK production and 20% from recycling, the government said, as global competition for these essential resources intensifies. Backed by up to 50 million pounds in new funding, the strategy seeks to ensure no more than 60% of the UK's supply of any one critical mineral comes from a single country by 2035, according to a statement. Sign up here. British Prime Minister Keir Starmer said in the statement critical minerals "are the backbone of modern life and our national security," arguing that boosting domestic production and recycling would help shield the economy and support efforts to lower living costs. The government said the UK currently produces 6% of its critical mineral needs domestically. Under the plan, it wants to expand domestic extraction and processing, with a particular focus on lithium, nickel, tungsten and rare earths. It aims to produce at least 50,000 tonnes of lithium in the UK by 2035. Britain faces an urgent need for a secure, long-term supply of critical minerals, including copper, lithium and nickel, which are essential for smartphones and electric vehicles and increasingly crucial for building data centers that power artificial intelligence. British demand for essential materials is climbing sharply, with copper consumption projected to nearly double and lithium demand expected to surge by 1,100% by 2035, Britain's government said. The strategy underscores China’s grip on critical mineral supplies , opens new tab, leaving the sector exposed to price swings, geopolitical strains and sudden disruptions. Britain noted China accounts for about 70% of rare earth mining and 90% of refining, a dominance that puts countries such as the UK at risk. Earlier this year, Britain struck a minerals cooperation deal with Saudi Arabia aimed at bolstering supply chains, opening doors for British firms, and drawing fresh investment into the UK. https://www.reuters.com/world/uk/britain-unveils-critical-minerals-strategy-cut-reliance-foreign-supply-2025-11-23/
