Industry & Minerals

diamonds

Explainer

Qatar launches diamond exchange as Hormuz crisis chokes LNG exports

Qatar's new diamond exchange is an effort to diversify from the country's main exports, LNG and petroleum products, which have been severely cut as a result of the Iran war and the Strait of Hormuz crisis.

Canada's Mark Carney (L) and Saudi Arabia's Crown Prince Mohammed bin Salman (R) met on the heels of the NATO summit in Riyadh on July 9, 2026.

Analysis

Carney bets on Saudi Arabia to help reduce dependence on US: What to know

Canada is seeking to diversify away from the United States, with Saudi Arabia and other Gulf states offering key energy and industrial benefits.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

BEIJING, CHINA - MAY 14: Chinese Foreign Minister Wang Yi (R) shake hands with Omar Seddik, Sudan's newly appointed foreign minister before their meeting during the China-CELAC Forum at Diaoyutai State Guest House on May 14, 2025 in Beijing, China. The summit includes China's key Latin American trade partners, and comes as Beijing and Washington work on defusing a trade war. (Photo by Florence Lo - Pool/Getty Images)

Explainer

China expands Sudan footprint through ports, debt relief, mining

Reports have emerged of a potential $300 million copper mining deal between the Sudanese government and a Chinese company.

Aluminum from Dubai sits in the BMW Landshut factory on Oct. 25, 2024 in Ergolding, Germany.

Analysis

Gulf aluminum pursues global deals as Hormuz crisis accelerates shift

Gulf aluminum exporters are targeting global deals amid fallout from the US-Israel-Iran war, which has pushed prices to multiyear highs in early June.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Latest News

Iran war hits Gulf aluminum exports, risking nearly 10% of global supplies

Aluminum ingots in the Aluminium Dunkerque plant of the American Industrial Partner group on Jan. 13, 2022, in Loon-Plage, near Dunkirk, France.

UAE’s DP World names new leadership after CEO leaves over alleged Epstein ties

SYDNEY, AUSTRALIA - JANUARY 20: A general view of DP World Australia at Port Botany on January 20, 2024 in Sydney, Australia. The Guardian reported that workers at DP World have been involved in industrial action since October 2023. Actions include limited stop-work orders, as the union seeks a 16% pay increase over two years. The stevedore company manages some 40% of container traffic in Australia. A protracted industrial dispute would have severe knock-on effects on supply chains and businesses small and

United Arab Emirates

Gulf markets recover after gold rout, buoyed by Iran de-escalation hopes

A woman checks a window shop at a jewelry store in Dubai, on March 10, 2025.

United Arab Emirates

Gold hits $5,300 as UAE market adjusts to record prices

A salesman arranges gold jewelry at Dubai Gold Souk, on Nov. 25, 2020, in Dubai, United Arab Emirates.

United Arab Emirates

FAYEZ NURELDINE/AFP via Getty Images

Saudi Arabia courts Chinese firms in mining investment drive

Mining and Industry Minister Bandar Alkhorayef met with executives from more than 20 mining firms in Beijing on Thursday.

A worker fits solar panels onto frames during construction at South Africa's first municipally owned solar plant, during International World Environment Day, on June 5, 2025, in Atlantis near Cape Town.

Saudi firm to pump $700M into economic zone developer in Africa

The kingdom's Vision Invest will invest in pan-African developer Arise Integrated Industrial Platforms, which will use the funds to expand across the continent and develop green industrial ecosystems.

Admiral Daryl Caudle, President Donald Trump’s nominee to be Chief of Naval Operations, testifies during his Senate Armed Services Committee confirmation hearing in the Dirksen Senate Office Building on July 24, 2025 in Washington, DC.

New US Navy chief vows major revamp after Mideast conflicts strain fleet

Caudle’s swearing-in comes amid broader shakeups across the Navy as the Trump administration continues to dismiss top military brass.

A Sudanese merchant weighs pure gold on an electronic scale in the village of al-Shirik in northern Sudan on Aug. 8, 2010.

Sudan restricts gold trade as currency falls: What to know

The UAE, historically the largest importer of Sudanese gold, could be affected by the move, and Khartoum is seeking to reduce exports of the commodity to the Gulf state over a dispute related to the civil war.

Wadani party presidential candidate Abdirahman Mohamed Abdullahi, also known as Irro, speaks during a press conference on Nov. 10, 2024, ahead of the 2024 Somaliland presidential election.

Somaliland leader to visit Washington as US weighs recognition: What to know

Somaliland, whose independence from Somalia remains unrecognized internationally, is reaching out to the Trump administration with strategic offers — including discussions about hosting displaced Gazans — to secure US recognition.

Azerbaijan

Somalia's FM visits Azerbaijan, talks energy cooperation: What we know

Somalia and Azerbaijan agreed to strengthen cooperation in various fields during the Somali foreign minister’s visit to Baku.

GIUSEPPE CACACE/AFP via Getty Images

Saudi mining licenses soar as kingdom hunts critical metals: What to know

The Saudi government has cleared hurdles for the mining industry in its pursuit of critical materials.

His Highness Sheikh Mohamed bin Zayed was hosted in Paris by President Emmanuel Macron, where the sides signed a groundbreaking cooperation agreement in AI, on Feb. 6, 2025.

Analysis

UAE hedges against global economic volatility with EU trade agreement

The UAE is doubling down on bilateral free trade agreements as it hedges against economic headwinds fueled by the United States' universal tariff policy.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

In this aerial image from a drone, tug boats tow the semi-submersible drilling platform Noble Danny Adkins through the Port Aransas Channel into the Gulf of Mexico on Dec. 12, 2020 in Port Aransas, Texas.

UAE's ADNOC eyes US acquisitions amid Trump's energy boom

Close political ties between the UAE and the Trump administration are likely to bode well for Abu Dhabi-based firms looking to tap the American shale boom.

United Arab Emirates

FAYEZ NURELDINE/AFP via Getty Images

UAE energy giant gets green light for $16B takeover of German firm Covestro

ADNOC agreed in October to buy Covestro for 14.7 billion euros (then around $16.3 billion), including its debt, in its biggest-ever takeover.

United Arab Emirates

WASHINGTON, DC - MARCH 20: President Donald Trump (R) holds up a chart of military hardware sales as he meets with Crown Prince Mohammed bin Salman of the Kingdom of Saudi Arabia in the Oval Office at the White House on March 20, 2018 in Washington, D.C. (Photo by Kevin Dietsch-Pool/Getty Images)

Analysis

Saudi Arabia to pursue two-track approach for Trump presidency

Riyadh is likely to compartmentalize business dealings with incoming President Donald Trump separately from its foreign policy engagements, where there is likely to be disagreement.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

Iranian miners look on at the scene of a blast at a coal mine in Tabas in Iran's Khorasan province on September 22, 2024. The blast caused by a gas leak at the coal mine in eastern Iran has killed at least 50 people, state media said on September 22, in one of Iran's deadliest work accidents in years. (Photo by Mohsen NOFERESTY / IRNA / AFP) (Photo by MOHSEN NOFERESTY/IRNA/AFP via Getty Images)

Analysis

Iran coal mine tragedy highlights prevalent corruption, workers' plight

Reactions from pundits, activists and ordinary Iranians focused in large part on how corruption and mismanagement has grown over the years, with companies and oversight bodies increasingly ignoring the safety of workers who were digging "for a loaf of bread."

A correspondent in Tehran

By A correspondent in Tehran

In Tehran, reporting on politics