Nickel Industries, an Australian mining company, has completed the acquisition of a 51% stake in the Siduarsi Project in Indonesia from PT Iriana Mutiara. The Siduarsi Project is a 6th generation Contract of Work (CoW) and is one of only four active nickel CoWs in Indonesia. The deal was valued at AUD 5 million (USD...
READ MOREUranium Energy has reached an agreement to acquire Rio Tinto’s uranium assets in Wyoming, including the fully-licensed Sweetwater uranium processing plant and several mining projects. The $175 million cash transaction, expected to close in the fourth quarter of 2024, will enhance Uranium Energy’s production capabilities, adding around 175 million pounds of historic uranium resources to...
READ MORERio Tinto, a major British resource company, is preparing to increase its sales of scandium, a byproduct of titanium dioxide production, in response to rising demand. The company sees substantial growth potential for scandium oxide, particularly for use in high-strength aluminum alloys. Currently producing 3 tons of scandium annually in Canada, Rio Tinto is considering...
READ MOREAnson Resources has announced that its U.S. subsidiary, A1 Lithium, has received a non-binding Letter of Interest (LoI) from the Export-Import Bank of the United States (US EXIM) for up to $330 million in debt funding. This funding, if finalized, will be used for the construction of a lithium production plant in Utah as part...
READ MOREEnerSys, a global leader in stored energy solutions, has been awarded $199 million in funding from the U.S. Department of Energy (DOE) to support the construction of a lithium-ion cell production facility in Greenville, South Carolina. The funding is part of the DOE’s $62 billion Bipartisan Infrastructure Law (BIL) Battery Materials Processing and Battery Manufacturing...
READ MOREOn Monday, September 23, President Joko Widodo inaugurated a new copper smelter in Indonesia, operated by Amman Mineral. The facility is part of Indonesia’s efforts to enhance its position in global copper production and reduce reliance on exporting raw materials. The new copper processing plant, located in West Nusa Tenggara, was built at a cost...
READ MORETerraVolta Resources, a leading U.S. critical minerals exploration and production company, has been chosen by the U.S. Department of Energy (DOE) to receive a $225 million award to support the development of a lithium production facility in the Texarkana region, which spans Arkansas and Texas. The award is part of the DOE’s efforts, under the...
READ MOREStandard Lithium, a near-commercial lithium development company, and Equinor, a global energy leader, have announced that their joint U.S. subsidiary, SWA Lithium, has been selected for a potential $225 million grant from the U.S. Department of Energy (DOE). This award, part of the Infrastructure Investment and Jobs Act, is aimed at expanding domestic manufacturing of...
READ MOREZambia’s copper production currently stands at 800,000 metric tonnes per year, but the government is setting its sights on a significant increase, aiming to boost output to 3 million tonnes by 2031. This ambitious target was highlighted by Mines Ministry Permanent Secretary Hapenga Kabeta during the launch of PwC Zambia’s Mining Sector Review Report. Kabeta...
READ MORECommodity trading giant Trafigura is set to name Richard Holtum as its new chief executive, according to a report from the Financial Times on Friday, citing sources familiar with the matter. Holtum, who currently leads Trafigura’s gas, power, and renewables division, has seen a swift rise within the company since joining from Glencore in 2014....
READ MOREThe U.S. Energy Department announced plans to allocate $3 billion in funding to 25 battery manufacturing projects across 14 states, as part of the Biden administration’s efforts to reduce reliance on China for critical minerals and battery production. These projects will enhance domestic capacity for producing advanced batteries and battery materials, following the introduction of...
READ MOREThe global zinc market surplus dropped to 14,000 metric tons in July 2024, down from 36,400 tons in June, according to data released by the International Lead and Zinc Study Group (ILZSG) on Wednesday. From January to July 2024, the global zinc surplus totaled 254,000 tons, a significant decrease from the 466,000-ton surplus recorded during...
READ MOREGlobal law firm White & Case has advised Alcoa Corporation on the sale of its entire 25.1% stake in a joint venture with the Saudi Arabian Mining Company (Ma’aden) for approximately $1.1 billion. The joint venture, established in 2009, is a fully integrated mining complex located in Saudi Arabia. It includes the Ma’aden Bauxite and...
READ MOREBMW is teaming up with Redwood Materials to recycle lithium-ion batteries from the German automaker’s electric vehicles across the United States. Redwood, which is constructing a $3.5 billion battery recycling facility in South Carolina, will receive end-of-life batteries from BMW’s U.S. network, including over 700 locations such as dealerships and distribution centers. These recycled batteries...
READ MOREEgypt’s Misr Aluminum announced on Thursday that it is exploring the implementation of a rehabilitation plan aimed at extending the lifespan of its factories and increasing production capacity, according to a report by Al Mal. The company is considering various financing options to fund the initiative, including a potential capital hike. A decision on the...
READ MORELifthium Energy, part of the José de Mello Group, has received €21 million in support from the Spanish government to construct a green lithium refinery in Torrelavega, located in the Cantabria region. The funding, announced by Minister for Industry and Tourism Jordi Hereu at the 1st Spanish-Chinese Automotive Summit in Madrid, is part of the...
READ MOREAt its 2024 Investor Day, Arcadium Lithium plc announced a comprehensive plan to double its sales volumes by 2028, targeting an estimated $1.3 billion in Adjusted EBITDA. This growth projection is supported by analyst consensus pricing forecasts and anticipated increases in lithium demand. The company expects a 25% increase in combined lithium carbonate and lithium...
READ MOREChina’s shipments of antimony products saw a sharp increase in August 2024, driven by international concerns over Beijing’s upcoming export restrictions on the critical mineral. Antimony, used in various applications from fire retardants to military equipment, has become the focus of a rush in stockpiling abroad. The export restrictions, set to take effect on September...
READ MOREAston Martin’s efforts to enhance the sustainability of its supply chain have received a significant boost with the award of £6 million in government funding. The grant, provided through the Advanced Propulsion Centre UK (APC), will support Project PIVOT, a research and development initiative aimed at creating lightweight, sustainable aluminium castings for future Aston Martin...
READ MOREThe shift to electric vehicles (EVs) is opening new sustainability opportunities throughout the aluminium supply chain, driving efforts to increase recycling and reduce emissions. Novelis, a leader in aluminium recycling, has made significant strides in capturing aluminium for the global automotive industry through closed-loop recycling programs and new investments in recycling operations. However, the next...
READ MOREUS Strategic Metals (USSM) has entered a partnership with Chilean Cobalt Corp. (C3) and Glencore AG, a division of Glencore, to facilitate the processing of cobalt and cobalt intermediates from C3’s La Cobaltera project in Chile. The collaboration aims to establish a U.S.-centric cobalt supply chain, linking the La Cobaltera project with USSM’s critical metals...
READ MOREPress Metal Aluminium Holdings Berhad, Southeast Asia’s largest aluminum smelter, announced today a new joint venture with PT Alakasa Alumina Refineri (AAR), PT Dinamika Sejahtera Mandiri (DSM), and PT Kalimantan Alumina Nusantara (KAN). The collaboration will see KAN establish and operate an integrated alumina refinery, power plant, jetty, and supporting infrastructure in Sanggau, West Kalimantan,...
READ MOREOn September 13, 2024, the U.S. Trade Representative (USTR) announced the completion of the statutory review for the Section 301 investigation into China’s trade practices regarding technology transfer, intellectual property, and innovation. This review, which began in May 2022, includes new tariffs on a range of Chinese imports, particularly targeting strategic industries. Key sectors affected...
READ MOREAccording to analysts at BofA Securities, copper prices are benefiting from strong demand, constrained supply, and increased investment in clean energy transition projects. Despite global macroeconomic concerns, copper has shown surprising resilience, with a 6% rise year-to-date in 2024. Key drivers of this growth include inadequate mine supply, declining ore output, and processing challenges, which...
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