2025-09-20 12:40

NEW DELHI, Sept 20 (Reuters) - India has signed a 15-year contract with the International Seabed Authority for exclusive rights to explore polymetallic sulphides in the Indian Ocean, the government said on Saturday. Polymetallic sulphides, which form around hydrothermal vents on the seafloor, contain high concentrations of metals such as copper, zinc, gold and silver - essential for clean energy technologies, electronics, and other high-tech applications. Sign up here. India is the first country to hold two ISA contracts for polymetallic sulphides. An earlier agreement with the United Nations body, which regulates mineral exploration and exploitation in international seabed areas, covered the Central and Southwest Indian Ridges. The country now holds the largest exploration area allotted by the ISA for these deep-sea mineral deposits, a government statement said. It is also seeking exploration licences in the Pacific Ocean, Reuters reported previously. India’s Minister of Science and Technology Jitendra Singh said the agreements would help enhance the country’s maritime and mineral exploration capabilities. https://www.reuters.com/world/india/india-signs-deepsea-mining-exploration-deal-with-international-seabed-authority-2025-09-20/

2025-09-20 12:06

Sept 20 (Reuters) - India is considering setting up a strategic reserve of critical minerals for emergency use in defence manufacturing, Bloomberg News reported on Saturday, citing a defence official. The reserve of critical minerals and metals would be used to "tide over immediate requirement" when needed, the report added, citing Rajesh Kumar Singh, a top Ministry of Defence official who was speaking at a media event in New Delhi. Sign up here. The Indian defence secretary's office did not immediately respond to a request for comment. Reuters could not immediately verify the report. India has been quietly tapping rare-earth mines in Myanmar to diversify its supply chain away from China, in an unusual engagement with the Kachin Independence Army, Reuters reported this month. Beijing has sharply restricted exports of processed rare earths to major economies like India this year as it builds geopolitical leverage in a trade war with the United States. India does have reasonable stocks of critical minerals by all accounts which it should be able to better utilise in the future, Singh said, according to the report. https://www.reuters.com/world/india/india-plans-strategic-rare-earths-reserve-bloomberg-news-reports-2025-09-20/

2025-09-20 10:50

China repeats position on TikTok, following Trump, Xi call Says encourages a deal that "strikes a balance of interests" Calls for U.S. to give Chinese firms better market access BEIJING, Sept 20 (Reuters) - China stuck to its stance on the future of TikTok in the U.S. on Saturday, a day after President Donald Trump said a deal to switch short video app TikTok to U.S.-controlled ownership was progressing. "China's position on TikTok is clear: The Chinese government respects the wishes of the enterprise, and welcomes it to carry out commercial negotiations in accordance with market rules to reach a solution compliant with China's laws and regulations, and strikes a balance of interests," China's Commerce Ministry said in a statement, reiterating a position it has maintained over the past week. Sign up here. Key questions remain about the potential U.S./China deal after Trump and Chinese President Xi Jinping held a call on Friday. They include the precise ownership structure of TikTok, how much control China will retain over the app's inner workings, and what Beijing gets from backing down and letting the U.S. muscle in on one of China's most successful companies. Progress over the future of the social media app - which has 170 million U.S. users - is seen key to unlocking concessions in other areas - from airplanes to soybeans - as the world's two largest economies chart a path beyond their current tariff truce. "It is hoped that the U.S. side will work towards the same goal as China, earnestly fulfil its corresponding commitments, and provide an open, fair, equitable and non-discriminatory business environment for the continued operation of Chinese enterprises in the U.S., including TikTok," the Commerce Ministry statement added. Since a framework deal was struck in Madrid earlier this week, Chinese officials and state media have called it a "win-win", promising to review TikTok's technology exports and intellectual property licensing. The framework deal was one hurdle Trump needed to clear to keep TikTok open. U.S. Congress had originally ordered the app to be shut down for U.S. users by January 2025 if its U.S. assets were not sold by Chinese owner ByteDance. He Yadong, a spokesperson for China's Commerce Ministry, reiterated China's hope that the U.S. reduce the barriers to trade facing Chinese firms, when asked what Beijing had got out of the Madrid deal during a news conference on Thursday. https://www.reuters.com/world/china/china-urges-us-ensure-fair-business-environment-tiktok-other-chinese-firms-2025-09-20/

2025-09-20 09:25

Sept 20 (Reuters) - China’s Sinopec has begun construction to upgrade its integrated refining and petrochemical project in the oil- and gas-rich Xinjiang region, the world’s largest refiner by capacity said on Saturday. The upgrade plan for the Tahe refining and chemical project includes expanding refining capacity and adding production capabilities for ethylene and paraxylene products, state-owned Sinopec (600028.SS) , opens new tab, said in a statement. Sign up here. The company said it will increase its crude oil refining capacity to 8.5 million tons per year from 5 million tons and build 16 refining and chemical units, including a 2.4-million-ton-per-year hydrocracking unit, a 1.5-million-ton continuous catalytic reforming unit, an 800,000-ton ethylene cracking unit and an 800,000-ton aromatics complex. The upgraded construction is expected to be finished by 2029. Upon completion and commissioning, the project is expected to generate approximately 20.2 billion yuan ($2.8 billion) in additional annual output value, based on a crude oil price of $60 per barrel. Sinopec, which is developing crude oil production capacity in the region, said in its 2025 interim results that 27.6 billion yuan ($3.9 billion), or 63% of first-half capital spending, was for exploration and development, mainly for capacity construction in Tahe and Jiyang in Fujian province. ($1 = 7.1151 Chinese yuan renminbi) https://www.reuters.com/business/energy/chinas-sinopec-upgrading-xinjiang-refining-chemical-project-2025-09-20/

2025-09-20 06:24

JAKARTA, Sept 20 (Reuters) - Two bodies have been recovered in the search for seven Freeport Indonesia workers trapped underground at a major copper mine since September 8 due to heavy mudflows, Indonesian media reported. The team is still looking for the other workers and the identification process will begin when police arrive, media outlets quoted a company spokesperson as saying. Sign up here. Representatives for Freeport Indonesia (FCX.N) , opens new tab and the local police did not immediately respond to a Reuters request for comment. After the incident at Grasberg, one of the world's biggest copper mines, Freeport suspended operations at the mine's main production block, senior Indonesian mining ministry official Tri Winarno said this week. He added that smaller sites were up and running. In addition to five Indonesians, the workers included a Chilean and a South African, Tri said. https://www.reuters.com/world/asia-pacific/two-bodies-found-search-freeport-indonesia-workers-trapped-mine-reports-say-2025-09-20/

2025-09-20 06:05

NEW DELHI, Sept 20 (Reuters) - The central Indian state of Madhya Pradesh has secured India’s lowest-ever price for buying solar power backed by battery storage in a clean energy auction, a top state official said, in a deal that could reshape how states buy power. CEIGALL India (CEIG.NS) , opens new tab and ACME Solar (ACMO.NS) , opens new tab won the tenders to supply clean power to Madhya Pradesh at 2.70 rupees (about 3 U.S. cents) per kWh and 2.764 rupees per kWh, respectively, the official said on Saturday. Sign up here. The lower price at which solar power can be supplied using battery storage could set a precedent for other states, showing them that renewable energy with storage can be cheaper than coal, said Manu Srivastava, a top official at the state's Power and Renewable Energy Department. The project has two units, each delivering 220 megawatts of power during sunny hours using solar panels, and in the evenings drawing power from batteries charged by solar energy. In the mornings, before the sun has charged the panels, the units draw power from those same batteries, which have been recharged with cheaper night-time electricity from the grid. The state is planning longer-duration storage projects and aims to eventually offer 24-hour renewable power at rates comparable to coal power, Srivastava said. The lower prices come as India is rapidly adding to its renewable energy capacity, aiming to expand its non-fossil fuel capacity to 500 GW by 2030. Coal power, however, remains central to the country's energy strategy because of the need for stable power during non-solar hours and the absence of viable, affordable storage projects. ($1 = 88.0950 Indian rupees) https://www.reuters.com/sustainability/climate-energy/central-indian-state-secures-record-low-price-solar-plus-storage-power-project-2025-09-20/