Alcoa has announced significant progress in its acquisition of Alumina, expecting the transaction to be completed on or about August 1, pending the satisfaction of customary conditions. Alcoa filed its definitive proxy statement with the Securities and Exchange Commission on June 6 and has scheduled a Special Meeting of Shareholders for July 16 to vote...
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Ecopro Innovation and Samsung SDI have signed a long-term lithium supply contract, ensuring a total supply capacity of approximately 154,000 tons of lithium hydroxide distributed across their business sites and Hungarian plants. This agreement will enable Ecopro Innovation to continue its operations with Samsung SDI in Korea until 2033. Ecopro Innovation has been at the...
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TerraVolta Resources, a leading U.S. critical minerals exploration and production company, has announced significant progress in its flagship lithium project in the Smackover formation across Texas and Arkansas. In early 2023, The Energy & Minerals Group (EMG), a major global private investor in natural resources, made a substantial equity commitment to TerraVolta, making it the...
READ MORE29Metals has finalized the documentation for a US$50 million copper and zinc concentrates offtake finance facility with Glencore International. The terms are consistent with the binding terms sheet previously announced on April 22, 2024. The facility, sized at US$50 million, has a maturity date of October 1, 2028, with availability for drawdown until April 2028....
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Anatoly Pesennikov, Chairman of Sberbank’s South-West Bank, and Alexander Simakov, General Director of Armavir Metallurgical Company, have signed a cooperation agreement to finance the construction of a full-cycle foundry and press plant in Armavir, Krasnodar Territory. The project, part of the RIAC Group, is a long-term investment exceeding 21 billion rubles (approximately $200 million), as...
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Wastewater from fracking for shale gas in Pennsylvania contains unusually high levels of lithium ions, potentially aiding the green transition, U.S. Congressman Guy Reschenthaler said on June 8 on Fox News Channel. A study published in Nature in April 2024 revealed that annual lithium production from the Marcellus Shale, a large natural gas reserve in...
READ MOREMining unions have threatened a full-scale strike at Sibanye-Stillwater due to a dispute over share ownership payments for mine workers. The company recently issued dismissal notices to dozens of workers who had staged an underground protest over the shares. The Association of Mineworkers and Construction Union (AMCU) leader, Joseph Mathunjwa, stated that the share issue...
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Guinea Alumina Corporation, a unit of Emirates Global Aluminum, has signed a preliminary agreement with the Guinean government to construct an alumina refinery in Guinea, as reported by Bloomberg News on Sunday. The planned refinery will have an annual capacity of 1 million tons and will be located in the region where the company currently...
READ MOREMajor Copper Smelter to be Built in Kazakhstan Agreement Between KAZ Minerals and China Nonferrous Metal Mining Kazakh copper producer KAZ Minerals has signed an agreement with China Nonferrous Metal Mining to construct a $1.5 billion copper smelter in eastern Kazakhstan. This state-of-the-art facility is scheduled to begin operations by the end of 2028. It...
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Global aluminum prices have surged by over 25% since the beginning of the year, recovering from a prolonged downturn. Three-month aluminum futures on the London Metal Exchange (LME) hit a two-year high of $2767.5 per ton in late May, before correcting slightly to $2645 per ton by June 6. This price increase, driven by post-pandemic...
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