With around seven years of experience, Lars has quickly become known for his sharp analysis of metals markets and emerging industry trends. He started his career in economic research, where he learned to simplify complex data into workable insights. Since then, Lars has contributed significantly to market forecasting, helping investors and industry leaders understand the often volatile metals markets. At Metals Wire, his focus is on clarifying the rapid changes in the industry, from regulatory updates to technological innovations.
LG Energy Solution, a subsidiary of South Korea’s LG Chem, has announced a pause in the construction of a $2.3 billion energy storage battery plant in Queen Creek, Arizona. This plant is part of a larger $5.5 billion lithium-ion battery manufacturing complex, which is touted as North America’s largest standalone battery manufacturing investment. Despite the...
VSMPO-AVISMA Corporation plans to commission a long product rolling complex in the Titanium Valley special economic zone in the Sverdlovsk Region, Russia by 2029. Construction of the facility is set to begin in 2025, according to Oblastnaya Gazeta correspondent Andrey Meshavkin. “We have ambitious plans and develop a new sensational program every year. Our most...
Australia-based Glencore Technology has filed a patent application for a novel method to treat zinc leach residue. The inventors behind this innovative process are Alistair Stewart Burrows, Leonid Ushkov, and Turarbek Anarbekovich Azekenov.The patent application, numbered 202417006110 A, was filed on January 30, 2024. The international classification numbers associated with this patent are B09B 101/55,...
Hydrovolt, a joint venture between Norwegian aluminum giant Norsk Hydro and Swedish battery manufacturer Northvolt, has announced the opening of a new lithium-ion battery recycling unit in Hourdain, northern France. The facility is set to begin operations in mid-2025 and will be located in the heart of France’s “battery valley.” The amount of the planned...
Amplify Cell Technologies, a joint venture between Accelera by Cummins, Daimler Trucks & Buses US Holding, and PACCAR, has commenced construction of a state-of-the-art battery cell manufacturing plant in Marshall County, Mississippi. The 500-acre site will house a two million-square-foot facility with an annual production capacity of 21-gigawatt hours (GWh) of lithium-iron-phosphate (LFP) battery cells....
LG Energy Solution and Liontown Resources have announced a strategic partnership to enhance their collaboration in the global lithium market. This partnership includes an extension of LG Energy Solution’s existing 5-year offtake agreement with Liontown by an additional 10 years, making it a total of 15 years. Under the extended agreement, Liontown will supply 700,000...
Gold may face continued pressure due to a stronger dollar and higher bond yields, despite support from global ETF inflows and expectations of Federal Reserve rate cuts, analysts suggest. Conversely, silver prices could reach Rs 1 lakh per kilogram this year. The outlook for other base metals remains muted due to an oversupply situation. Last...
Russian diamond producer Alrosa has purchased a gold deposit in Russia’s Far East from miner Polyus. This acquisition marks Alrosa’s deeper venture into gold mining, which the company states will complement its existing business and enhance its financial stability without significantly altering its strategy. Alrosa’s CEO Pavel Marinychev highlighted the strategic benefits, saying, “The development...
CMOC has entered into a cooperation agreement with Lualaba Power of the Democratic Republic of the Congo to accelerate the development of the Nzilo II hydropower project. This project aims to provide a stable power supply for CMOC’s upcoming capacity expansion. The Nzilo II hydropower project, with a capacity of 200 MW, is designed to...
Copper prices on the London Metal Exchange (LME) declined today amid weak demand and improved supply, according to ANZ analysts. Chile, one of the world’s leading copper producers, reported an 8% year-on-year increase in copper production, reaching 444,000 tons in May, the highest monthly output this year. The production boost was attributed to the expansion...
Hydro has announced a new pilot project in Høyanger to test the use of green hydrogen as a substitute for natural gas in the recycling of aluminum. This initiative is part of Hydro’s ongoing efforts to decarbonize aluminum production and follows the first industrial test of green hydrogen conducted in June 2023. Executive Vice President...
A new forging complex with a force of 4,000 tons for titanium has been inaugurated at VSMPO-AVISMA’s facility in Verkhnyaya Salda, Sverdlovsk Region, Russia. Located in the forging and stamping shop of the enterprise, this state-of-the-art complex is set to enhance productivity with minimal human involvement. Dmitry Trifonov, General Director of VSMPO-AVISMA, stated, “The new...
Ghanaian MPs have unanimously ratified the mining lease granted to the Ghana Bauxite Company (GBC) on June 26, 2024. GBC, which is 80% owned by local firm Ofori-Poku Company Limited and 20% by the government, operates the country’s sole bauxite mine in Awaso. The ratification of the lease is a significant step for Ghana’s ambitions...
Rock Tech Lithium is set to receive €100 million in funding to establish a lithium refinery in Guben, Brandenburg (Spree-Neisse). The majority of the funds will come from the state of Brandenburg, with the Federal Railway Authority (EBA) contributing around €10 million to support rail transportation infrastructure for the facility. Rock Tech is also negotiating...
PT Freeport Indonesia (PTFI) is preparing to begin operations at its newly constructed smelter in Gresik, East Java, following a $3.7 billion investment. This development will significantly increase the company’s copper concentrate processing capacity from 1 million tonnes per year to 3 million tonnes. The new facility is projected to boost copper cathode production to...
The world’s leading lithium producers expressed confidence in long-term demand for electric vehicle (EV) battery materials at the Fastmarkets Lithium Supply and Battery Raw Materials Conference in Las Vegas. This optimism comes despite a significant price drop that has led to layoffs and delayed expansions. Lithium demand has surged over the past decade, moving beyond...
E3 Lithium, a leading Canadian lithium company, has announced promising results from its Pre-Feasibility Study (PFS) for the Clearwater Project in Alberta. The study confirms the project’s economic viability and environmental sustainability, marking Canada’s first lithium-in-brine proven mineral reserve. Key Highlights: – Production: 32,250 tonnes per year of Lithium Hydroxide Monohydrate (LHM) – Reserves: 1.29...
JordProxa and Zelandez have announced a new partnership aimed at accelerating lithium production from brine mining companies in North and South America. The collaboration was formalized in a signing ceremony in Las Vegas with Elie Sakhat, Director of JordProxa, and Gene Morgan, CEO of Zelandez. This partnership combines JordProxa’s expertise in modular plant design with...
Market research firm SNE Research has forecasted significant growth in global lithium-ion battery (LIB) production capacity, predicting it will reach 5,695GWh by 2035. According to the report, “2024 Global LIB Line New Establishment and Expansion Outlook,” the average annual growth rate from 2024 to 2035 is expected to be 10%. The report highlights the critical...
Exxon Mobil has signed a non-binding memorandum of understanding to supply up to 100,000 metric tons of lithium to South Korean battery developer SK On from its proposed Arkansas lithium project. The international energy company announced the agreement on June 25. “The world needs more lithium to support its emissions goals, and we’re doing our...
Absa, a prominent financial services group, anticipates that South Africa’s mining companies will seek new deals as inflation slows and interest rates decline, reducing the cost of financing mergers and acquisitions. Konosoang Asare-Bediako, an investment banker at Absa Corporate and Investment Banking, indicated that several factors point to a resurgence in deal-making within the mining...
Concerns surrounding its battery division have significantly impacted Umicore, causing the company to lose three-quarters of its stock market value since 2021. The question remains whether the stock can recover and what this means for other green car players like Melexis. In the spring of 2021, Umicore was thriving, benefiting from high platinum prices, a...
Gelion and Glencore have entered into an agreement to accelerate the development and deployment of Gelion’s next-generation battery technologies. The collaboration aims to explore the potential introduction of these advanced battery technologies to the global mining sector. John Wood, Chief Executive of Gelion, highlighted that the partnership provides an opportunity to evaluate the scope for...
JX Advanced Metals, led by President Hayashi Yoichi, has announced its decision to sell all of its equity in Nikko Fuji Precisioni, a wholly owned subsidiary. This move aligns with the company’s strategy to focus on its core precision rolling business within the advanced materials sector. NFP Wuxi has been involved in manufacturing and selling...
