Chile’s drought hits Antofagasta’s copper output in Q1

The US is not opposed to China investing in Africa if the investments are centred on upholding human rights, democracy and jobs.

Federal Natural Resources minister Jonathan Wilkinson said most of the discussions have focused on "carbon contracts for differences."

Declines in gold were, however, capped by a slide in the benchmark 10-year Treasury yields.

"Demand hopes have given way to demand concerns," said Commerzbank analyst Daniel Briesemann.

Increased prices for fossil fuels have shifted the conversation, potentially benefitting oil and gas projects in Africa as importers scramble to diversify supply chains away from Russia.

Parts of the new-energy sector concentrated in the Yangtze Delta and southeastern China had been affected severely.

Bullion has been under pressure as the Federal Reserve tightened monetary policy to fight accelerating consumer-price gains.

Shanghai said half the city had achieved “zero-COVID” status, but uncompromising restrictions had to remain in place under a national policy.

Ivanhoe chief Friedland highlights Africa and the Arabian Shield as critically important venues for responsible green mining.