2025-09-30 20:31
TIERRA AMARILLA, Sept 30 (Reuters) - Residents in the mining town of Tierra Amarilla in the Chilean desert are hopeful that a new court ruling will allay their fears about a giant sinkhole that opened near their homes more than three years ago and remains unfilled. A Chilean environmental court this month ordered Minera Ojos del Salado, owned by Canada's Lundin Mining (LUN.TO) , opens new tab, to repair environmental damage related to activity at its Alcaparrosa copper mine, which is thought to have triggered the sinkhole that appeared in 2022. Sign up here. The ruling calls on the company to protect the region's water supply and refill the sinkhole. The cylindrical crater originally measured 64 meters (210 ft) deep and 32 meters (105 ft) wide at the surface. That has provided a small measure of relief to those in arid Tierra Amarilla in Chile's central Atacama region, who fear that without remediation the gaping hole could swallow up more land. "Ever since the sinkhole occurred ... we've lived in fear," said Rudy Alfaro, whose home is 800 meters from the site. A health center and preschool are nearby too, she said. "We were afraid it would get bigger, that it would expand, move toward the houses." The sinkhole expelled clouds of dust in a recent earthquake, provoking more anxiety, she said. The court upheld a shutdown of the small Alcaparrosa mine ordered by Chile's environmental regulator in January, and confirmed "irreversible" damage to an aquifer, which drained water into the mine and weakened the surrounding rock. "This is detrimental to an area that is already hydrologically stressed," said Rodrigo Saez, regional water director. Lundin said it will work with authorities to implement remediation measures. https://www.reuters.com/sustainability/climate-energy/giant-sinkhole-chilean-mining-town-haunts-residents-three-years-2025-09-30/
2025-09-30 20:27
Sept 30 (Reuters) - Jamie McGeever is enjoying some well-deserved time off, but the Reuters markets team will still keep you up to date on what's happening in markets. We are just hours away from a U.S. government shutdown, barring a last-ditch agreement between Republicans and Democrats to fund federal agencies. I'd love to hear from you, so please reach out to me with comments at [email protected] , opens new tab Today's Key Reads Sign up here. Today's Key Market Moves Today's Key Talking Points Unless Republicans and Democrats reach an agreement to at least temporarily fund federal agencies in the next few hours, the U.S. government would enter its 15th shutdown since 1981. In a salvo ahead of the deadline, President Donald Trump warned congressional Democrats that allowing the federal government to shut down would let his administration take "irreversible" actions including closing programs important to them. The government last shut down for over 30 days in 2018 and 2019, during Trump's first term. While tariffs have receded as the main factor driving markets, Trump demonstrated this week that he continues to favor the levies as a key policy tool. The Republican president started the week saying he would impose a 100% tariff on all films produced overseas that are then sent into the U.S., signaling his willingness to extend protectionist trade policies into cultural industries. Then late last night, the White House said Trump signed a proclamation to set a 10% tariff rate on imports of lumber and 25% on vanities, kitchen cabinets and upholstered wooden products. Tariffs also appeared to be a key lever Trump used in securing an agreement from Pfizer to lower drug prices. Trump said on Tuesday that the drugmaker will cut the price of all prescription drugs in the Medicaid program for low-income Americans and sell new medicines at a "most-favored-nation" price, in exchange for tariff relief. A day after topping $3,800 an ounce for the first time, gold prices hit another record high on Tuesday. The yellow metal climbed over 11% in September alone, pushing its year-to-date ascent to about 47%. Uncertainty over the government shutdown appeared to be helping the bid for the safe-haven asset. What could move markets tomorrow? Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. https://www.reuters.com/business/global-markets-trading-day-graphic-2025-09-30/
2025-09-30 20:16
Oct 1 (Reuters) - At least 22 people have been killed following a powerful 6.9-magnitude earthquake in the Philippines, a government official said, marking one of the country's most devastating disasters this year. The earthquake that struck off the coast of Cebu City in the Philippines' central Visayas region just before 10 p.m. (1400 GMT) on Tuesday led to power outages and damaged buildings in the region. Sign up here. Alfie Reynes, vice mayor of the town of San Remigio, confirmed the death toll of 22 in an interview with DZMM radio. Another government official told Reuters by phone that at least 21 people have been reported dead in Cebu province, adding that verification is underway on the reported fatalities. The New York Times earlier reported that at least 37 people have been injured due to the quake, along with the collapse of a few buildings and infrastructure including bridges. Earthquake monitoring agencies had pegged the depth of the quake at around 10 km (6.2 miles) and recorded multiple aftershocks, the strongest having a magnitude of 6. Another monitoring agency said there was no tsunami threat following the quake. Cebu City has a population of nearly 1 million, according to the USGS. Philippine seismology agency Phivolcs warned of aftershocks and damage from the offshore tremor. It also warned that "strong currents and rapid changes of seawater level are expected." "The concerned public is advised to be on alert for unusual waves," it said in an advisory. The warning was canceled three hours later. The Philippines lies in the Pacific "Ring of Fire," where volcanic activity and earthquakes are common. The country had two major earthquakes in January with no casualties reported. In 2023, a 6.7 magnitude offshore earthquake killed eight people. https://www.reuters.com/business/environment/magnitude-69-earthquake-strikes-eastern-visayas-region-philippines-no-tsunami-2025-09-30/
2025-09-30 20:04
NEW YORK, Sept 30 (Reuters) - The U.S. Securities and Exchange Commission on Tuesday told employees to prepare for a potential lapse in funding, according to an email seen by Reuters, as the United States headed towards its potential 15th government shutdown since 1981. Government funding will lapse at midnight unless Republicans and Democrats in Congress agree on a deal to temporarily fund federal agencies with Wednesday's start of a new fiscal year. Sign up here. "We continue to watch the progress on FY2026 appropriations for the SEC," said Ken Johnson, the SEC's chief operating officer, in the memo to all staff. The SEC did not respond immediately to request for comment. The email seen by Reuters included text provided by the White House blaming the shutdown on Democrats. A shutdown would reduce the SEC to a skeletal staff of around 9% of current levels, according to its August 2025 plan for a lapse in government funding. This would severely limit the agency’s ability to review corporate filings, investigate misconduct, and oversee markets. https://www.reuters.com/sustainability/boards-policy-regulation/wall-street-regulator-cuts-costs-market-surveillance-tool-2025-09-30/
2025-09-30 20:02
Sept 30 (Reuters) - Freeport-McMoRan (FCX.N) , opens new tab said on Tuesday it remains in discussions with the government of Indonesia regarding rights to operate the Grasberg copper and gold mine past 2041. News reports earlier on Tuesday had indicated that Phoenix-based Freeport had agreed to divest a 12% stake in its Indonesian unit, known as PT Freeport Indonesia. Grasberg is the world's largest gold mine and second-largest copper mine. Sign up here. PT Freeport Indonesia is 51% owned by Indonesia's government but operated by Freeport, one of the world's largest copper miners with operations across the Americas, Asia and Europe. In response to a request from Reuters, Freeport said it continues "to advance discussions with the government of Indonesia" regarding an extension of operating rights past 2041. "The parties are working to conclude an agreement that would be beneficial to all stakeholders. (Freeport) will issue a formal announcement upon successful completion of an agreement," a Freeport spokesperson said. Negotiations come after Freeport declared force majeure at Grasberg last week due to torrential mudslides that killed two workers earlier this month and injured others. Freeport has said that Grasberg may not return to pre-accident operating rates until at least 2027. The mine's temporary closure is expected to crimp global copper supplies for several years. https://www.reuters.com/markets/commodities/freeport-mcmoran-still-talks-with-indonesia-over-grasberg-mine-rights-company-2025-09-30/
2025-09-30 19:54
SANTIAGO, Sept 30 (Reuters) - The world's biggest copper miner, Chile's Codelco (COBRE.UL), has named Gonzalo Lara Skiba as vice president of integrating operations at Andina, a role in which he will spearhead a shared mine plan between Codelco's Andina and Anglo American's (AAL.L) , opens new tab Los Bronces. "This vice presidency faces the challenge of transforming the strategic agreement into concrete and sustainable operations," Codelco said in a statement. Sign up here. Cesar Jimenez Soto will take over Lara Skiba's current role, becoming interim General Manager of the Ministro Hales mine in November. https://www.reuters.com/world/americas/codelco-names-vp-lead-integration-andina-mine-with-anglo-american-2025-09-30/
