In June, the steel industry achieved a profit of 13.6 billion yuan.

Zambia’s mining sector is embarking on a significant expansion phase as major international producers scale up capital expenditure to align with government ambitions of increasing national copper output toward 1 million MT per year. However, according to foreign media reports, industry analysts warn that the country's long-term production targets depend heavily on whether supporting grid and transport infrastructure can expand alongside mine capacity. The primary operational constraint remains electricity availability across the Copperbelt. With over 83% of Zambia's 3,985 MW national power base dependent on hydropower assets like Kafue Gorge and Kariba North, recent drought-driven water level drops have exposed severe energy vulnerabilities across the mining sector. Unscheduled grid fluctuations and emergency load-shedding pose acute operational risks to energy-intensive processing operations, where power interruptions cause severe thermal shock to copper smelter brick linings, resulting in physical equipment damage and prolonged operational shutdowns. To mitigate these disruptions, mining companies are increasingly investing in off-grid renewable energy projects, utility-scale solar PV capacity, and regional power imports. Beyond energy, sustained production growth will require capital investments in rail logistics networks, water infrastructure, and local supplier technical capacity.

According to foreign media reports, Panama’s government is evaluating the creation of a state-owned enterprise (SOE) to pave the way for restarting First Quantum Minerals’ Cobre Panamá copper mine. Under the proposed public-private partnership, the Panamanian state would hold a 35% to 40% equity stake, while First Quantum would retain operational control with the remaining 60% to 65%. Alternatively, officials are considering a direct leasing structure where the state maintains sole ownership of the underlying concession in exchange for royalty and tax revenues. Cobre Panamá has remained idle since late 2023 following a Supreme Court ruling that invalidated its operator contract, alongside subsequent legislation banning new private mining concessions. Establishing an SOE provides a constitutional mechanism for President José Raúl Mulino’s administration to resume mining operations without issuing new private permits. Disagreements have cooled as First Quantum suspended its $20 billion international arbitration claim and received permission to sell stockpiled copper concentrates, restart its power plant, and conduct an environmental audit that scored an 88% compliance rating. A final government decision is expected before the end of the year.

Lion Energy has advanced its Bula Karang-1 exploration campaign in Indonesia after completing a farm-out transaction, securing project funding, finalising drilling contracts, and commencing site construction. The company has confirmed the use of Silver City Drilling's 900HP SCD-20 drilling rig, which has been mobilised from East Java and is expected to drill a deviated well extending around 1,000 m offshore to test a seismically identified carbonate reef target at a depth of approximately 550 m below sea level. A successful outcome could establish a new oil production hub within the East Seram PSC and unlock additional nearby exploration prospects.

Kazakh coal transshipment through Russian Baltic and Southern ports reached 6.7 million mt in the first half of 2026, up 34% year-on-year from the same period last year. The increase was supported by rail cooperation agreements signed between Russian Railways (RZD) and Kazakhstan Temir Zholy (KTZ) in April 2025 to expand coal deliveries to Russian ports. Growth was also aided by the EU's July 2025 decision to exempt transactions involving certain Russian ports from sanctions when used for the transit of Kazakh coal.

[SMM PGM Express] Valterra Platinum and Umicore’s Metal Deposition Solutions (MDS) have launched a multi-year R&D and commercialisation partnership aimed at expanding platinum group metal (PGM) applications in industrial electroplating. The collaboration will focus initially on high-speed platinum electroplating technologies for the electronics sector, including connector applications, where platinum could offer a durable and cost-effective alternative to gold. With industrial gold demand exceeding 9.5 million ounces annually, the partnership highlights the potential for platinum to capture new demand opportunities in high-value applications. Under the agreement, Valterra Platinum will provide funding over an initial three-year period, while Umicore MDS will contribute R&D expertise in materials chemistry, surface technologies and industrial-scale process development to advance solutions from laboratory research towards commercial readiness. The initiative forms part of broader efforts by PGM producers to diversify demand beyond traditional markets and create new industrial uses for platinum. Growing adoption of advanced electronics and the search for more efficient precious metal alternatives could support future demand growth. The partnership also reflects continued efforts across the PGM sector to address long-term market challenges by developing innovative applications that improve platinum’s competitiveness and expand its role in emerging technologies.