Glencore’s Glasenberg says China can’t cool commodities for long

Decision comes as the Swiss-based miner and commodities trader rethinks how to deploy capital as its cuts debt.

China will shut 6,000 non-coal mines in an effort to reduce mining accidents and deaths by 2020, the State Administration of Work Safety said in a five-year plan.

China's metals trade figures were once a spotlight on the state of the world's manufacturing engine and price driver.

The price of one of the most common lithium ion battery precursor materials, cobalt sulphate, has continued to surge in August by over 14%.

In an effort to receive more financial benefits from mining operations, the government's proposal will also require investors in the sector to get legislative approval before operating.

Copper price jumps to near three-year high as likely impact of Chinese scrap metal import ban sparks another session of speculative buying.

Chinese coal imports from key supplier Australia chalked up year-on-year gains for the second straight month in July, customs data showed, as local output of the commodity eased amid a crackdown on illegal mining and pollution.

Prices for the steelmaking material have increased almost 50% since its 2017 lows.

The deal comes after a trip by the Guinean mines minister, Abdoulaye Magassouba, to China and follows other major Chinese investments in the resource-rich West African nation.