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Nigeria has approved a new $4.5 billion loan facility to refinance the state-owned oil company NNPC's existing $3.3 billion debt taken out in 2023. The move extends repayment terms as the government seeks to stabilize the company's finances amid falling oil output and mounting fiscal pressure.
Guatemala's Fuego volcano, located roughly 35 kilometers from the capital, has erupted again, prompting authorities to declare a red alert, the country's most severe danger warning. The affected zone covers Sacatepéquez, Chimaltenango and Escuintla, home to around 1.6 million people who now face ash, gas and lava.
US President Donald Trump said Iran would be "hit very hard" if the Strait of Hormuz does not reopen to shipping soon, even as Secretary of State Marco Rubio and Treasury Secretary Scott Bessent said talks had advanced toward resuming shipments. Oil prices fell on signs the standoff over the vital waterway may be easing.
Ghana and Côte d'Ivoire, the world's two largest cocoa producers, have signed a joint declaration pledging closer cooperation on pricing, local processing and environmental protection. The agreement aims to secure better incomes for the millions of smallholder farmers who grow cocoa across West Africa. Both governments said they would also expand cooperation on scientific research into crop resilience.
Iran and Oman have held what officials describe as positive talks aimed at reopening safe shipping through the Strait of Hormuz. US officials say progress has been made toward resuming regional oil shipments, though negotiators say key differences between the parties remain unresolved.
US Treasury Secretary Scott Bessent said Washington is in talks with Iran on a deal that would guarantee "freedom of movement" through the Strait of Hormuz, and that an announcement could come as soon as Tuesday or Wednesday. The comments follow warnings that the threat to oil tankers in the strait is now at its highest since the Iran war began. Oil prices fell on the news.
President Donald Trump said the latest round of talks with Iran represents the "last chance" to end the five-month conflict. Tehran denied that direct negotiations with Washington are under way, and oil prices rose as the standoff continued.
Liberty Bell Bay, Australia's only manganese alloy smelter, has officially entered liquidation, with efforts soon beginning to claw back tens of millions of dollars owed to creditors. The closure of the Tasmanian plant raises the risk of hundreds of job losses in the region.
Thousands of mining industry figures gathered for the Diggers and Dealers forum in Kalgoorlie, Western Australia, with the struggle for control of the global rare earths market front of mind. Attendees stressed that cooperation across the industry is critical for future growth.
Ukrainian attacks killed at least nine people across Russia on Sunday, while Russian strikes left at least five dead in Ukraine, officials said. Both sides intensified long-range attacks despite stalled efforts to negotiate an end to the war.
OPEC+ member states agreed to raise oil output for September, completing the rollback of voluntary production cuts that began earlier in the year. The move comes as export disruptions tied to the Iran and Ukraine wars have muted the market impact of monthly increases.
Māori agribusiness Ngāi Tahu Farming has been chosen to operate Molesworth Station, New Zealand's largest farm. Former farm manager Jim Ward, whose bid was among four unsuccessful ones, said he was 'absolutely gutted' by the decision. Molesworth Station is regarded as one of the country's largest-scale agricultural operations.
Data from the first half of 2026 shows crude oil has overtaken corn and soy to become Argentina's top export. The shift reflects the rapid expansion of the Vaca Muerta oil and gas field and energy's growing role in the country's export economy. It marks a notable break from Argentina's traditionally agriculture-led export structure.
US embassies around the world renewed travel-risk warnings for American citizens on Saturday, citing media reports that President Trump is preparing a fresh round of military strikes against Iran. The advisories followed reports that tankers near Oman came under fire. Washington has not confirmed a timeline for any action.