Hindalco Industries announced on Wednesday that its US subsidiary, Novelis Inc., has postponed its initial public offering (IPO) due to unfavorable market conditions. The decision was revealed in a filing to the Bombay Stock Exchange (BSE). Novelis will continue to assess the appropriate timing for the IPO in the future. Just a few days ago,...
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This Tuesday saw full support from Codelco’s main trade union organizations for the association agreement with SQM. The Federation of Copper Workers (FTC) first expressed approval on Saturday, following the confirmation of the negotiations’ closure. The FTC emphasized that the agreement ensures the State of Chile’s majority participation in the lithium industry, which aligns with...
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Occidental and BHE Renewables, a subsidiary of Berkshire Hathaway Energy, have announced a joint venture to demonstrate and deploy TerraLithium’s Direct Lithium Extraction (DLE) technologies. This venture aims to extract and commercially produce high-purity lithium compounds from geothermal brine. TerraLithium, owned by Occidental, has patented DLE technologies capable of processing lithium-containing brine into a high-purity,...
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The metallic minerals sector in the Philippines experienced a slow start in the first quarter of 2024, with production value down 12.76 percent compared to the same period last year. The Department of Environment and Natural Resources (DENR) reported that the value of domestic metallic mineral production fell to P51.81 billion (approximately $880.77 million) from...
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International Battery Metals (IBAT) has announced the appointment of Iris Jancik as Chief Executive Officer, effective mid-August. Jancik will focus on expanding the commercial deployment of IBAT’s patented modular direct lithium extraction (DLE) plants. IBAT recently installed its first commercial lithium production plant, co-located at US Magnesium’s operations outside Salt Lake City, Utah. The DLE...
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Scientists from the Ural Federal University (UrFU) and the Baikov Institute of Metallurgy and Materials Science of the Russian Academy of Sciences have modernized a titanium alloy used for medical implants, improving its biocompatibility and reducing its rigidity. This advancement addresses two critical issues with current alloys: potential allergic and toxic reactions, and excessive stiffness...
READ MORELS MnM, a non-ferrous metals and materials company affiliated with LS Group, announced on November 2 that it has signed a contract with BHP, the world’s largest mining company, for the purchase of 1.73 million tons of copper concentrate. The contract was signed at LS Yongsan Tower in Yongsan-gu, Seoul. Under the agreement, LS MnM...
READ MOREThe boards of Codelco and SQM have reviewed a comprehensive 600-page contract that outlines the creation of a new company formed from the merger of SQM Salar and Minera Tarar, a subsidiary of the state-owned mining company Codelco. This new entity will exploit lithium in the Salar de Atacama until 2060. The contract is expected...
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Nornickel, the world’s largest producer of Class I nickel, sees a smaller global nickel market surplus due to growing demand for nickel in the smelting and electric vehicle sectors, according to the market overview published on the company’s website. The miner expects 100,000 tons of surplus in 2024 and 2025. Although the surplus is smaller...
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Norsk Hydro has announced an $85 million investment in a new casting line at its recycling plant in Kentucky, USA. The new line, expected to be operational by 2026, will cater to the US automotive market. This investment is supported by tax incentives from the Kentucky Economic Development Finance Authority (KEDFA) and is projected to...
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Wyloo Canada announced plans to build a downstream battery materials processing facility in Sudbury. The facility, which will process ore from the Ring of Fire, is expected to cost up to $900 million and create several hundred jobs. Wyloo has secured land in Greater Sudbury for the facility, which will be Canada’s first integrated mine-to-precursor...
READ MORESpot silver closed down 0.41% at $31.95 per ounce on Wednesday, after hitting an intraday low of $31.59 per ounce. The decline followed a slight rise in U.S. Treasury yields, which exerted downward pressure on the precious metal. Silver prices had retreated after reaching a six-day high of $32.29 per ounce earlier in the session....
READ MOREAnglo American has rejected BHP Group’s request for more time to discuss a $49 billion takeover offer, likely ending a five-week pursuit by the larger rival. Anglo had previously granted BHP a one-week extension until 1600 GMT on Wednesday to its original May 22 deadline to submit a binding offer, following the rejection of a...
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Novelis, a leading provider of sustainable aluminum solutions and the world leader in aluminum rolling and recycling, has announced the launch of a roadshow for the initial public offering (IPO) of 45,000,000 of its common shares. These shares are held by Novelis’ sole shareholder, a wholly owned subsidiary of Hindalco Industries Limited. The selling shareholder...
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Anglo Asian Mining, an established producer of gold, copper, and silver in Azerbaijan, has released its annual report for the year ending December 31, 2023. The company produced a total of 31,821 gold equivalent ounces (GEOs) during the year, a decrease from the 57,618 GEOs produced in 2022. Despite the lower production, the company remains...
READ MOREAluminum-recycling company Novelis announced plans on Tuesday to offer 45 million shares in its upcoming initial public offering (IPO) at an estimated price range of $18 to $21 per share. At the midpoint of this price range, Atlanta-based Novelis aims to raise around $877.5 million. The IPO will be underwritten by Morgan Stanley, BofA Securities,...
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Lynas will likely need to further expand its Mt Weld rare earths mine to utilize its spare cracking and leaching capacity, according to Morgan Stanley analysts. Options for acquiring unprocessed rare earths from third parties appear limited, and Lynas’s operational costs will remain higher than optimal until it can operate at full capacity. Analysts estimate...
READ MOREKEZAD Group, the largest operator of integrated and purpose-built economic zones, and Ducab Metals Business, a leading regional supplier of metals solutions, have signed a 50-year lease agreement to expand Ducab’s existing manufacturing facility in KEZAD. The agreement was signed during the Make It In The Emirates Forum 2024 in the presence of Mohamed Al...
READ MORETrident Global Holdings, a prominent Korea-based conglomerate with interests in mining, real estate, and carbon capture technology, has announced the acquisition of rights to three significant rare earth element mines in Vietnam. Trident will provide the necessary manpower, capital, technology, and equipment for the development and processing of these mines. In partnership with Vietnam’s Hung...
READ MORERussian metals giant Nornickel is planning a joint project to construct a platinum group metals (PGMs) refinery in Bahrain, according to a source familiar with the matter who spoke to Reuters on Thursday. Nornickel is the world’s largest producer of palladium and a major producer of platinum, accounting for 41% and 12% of global mine...
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Canadian-owned Trigon Metals has reached commercial production status from its underground operations at the Kombat Mine as of April 30. This milestone marks a significant advancement in Trigon’s goal to become a leading mid-tier copper producer. According to Trigon, achieving commercial production status means operating at 70% of production capacity over 30 consecutive days. The...
READ MOREIndonesia Invites Elon Musk for Battery Plant Venture Proposal to Build Electric Vehicle Battery Plant The Indonesian government has extended an invitation to Tesla CEO Elon Musk to consider establishing an electric vehicle battery plant in Indonesia. This invitation aligns with President Joko Widodo’s strategy, initiated after his election in 2014, to transform Indonesia into...
READ MOREStillwater Critical Minerals has announced the discovery of new sulphide mineralization within a 12-kilometer electromagnetic anomaly at its Stillwater West project in Montana. This discovery is part of the company’s resource expansion drilling campaign funded by Glencore Canada, which now holds a 15.4% equity stake in Stillwater after additional investments totaling approximately $7.05 million. The...
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Copper is increasingly becoming one of the most valuable assets in the global economy. Due to its superior ability to conduct electricity, demand for copper is expected to surge in the coming decades as the world shifts away from fossil fuels toward renewable energy sources. This anticipated demand is a driving factor behind BHP’s $46...
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