Nickel processing company PT Vale Indonesia Tbk (INCO) has officially signed a cooperation agreement with Chinese firm GEM, for the development of a net-zero nickel processing facility in Central Sulawesi. The signing took place in Beijing this week and was witnessed by Indonesian President Prabowo Subianto during his visit to China. The $1.4 billion project...
READ MOREAluminium Bahrain (Alba) and Japan’s Daiki Aluminium Industry Company have signed a joint venture (JV) agreement to establish a sustainable aluminium dross processing facility in Bahrain. The planned facility will have an annual production capacity exceeding 25,000 tonnes, aiming to support waste recycling and promote sustainable solutions within the country. Ali Al Baqali, CEO of...
READ MORENigeria has signed a $1.2 billion contract with the Chinese state-owned engineering firm China National Chemical Engineering Corporation (CNCEC) to overhaul a gas processing plant that is crucial for the country’s aluminium production, according to the Petroleum Ministry. The agreement marks the initial move towards reviving the long-dormant Aluminum Smelter Company of Nigeria (ALSCON), which...
READ MOREThe federal government of Nigeria oversaw the signing of an agreement between BFI Group and China National Chemical Engineering Corporation (CNCEC) for the restarting of the Aluminum Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State. This event follows a series of discussions held between Minister of State for Petroleum Resources (Gas), Ekperikpe...
READ MOREThe Saudi Export-Import Bank (Saudi EXIM) has signed a $300 million credit facility agreement with Glencore to support Saudi Arabia’s expanding mineral exports. The deal is part of efforts to boost Saudi non-oil exports by enabling the marketing of Saudi mineral products in over 156 global markets. The signing took place in Geneva, Switzerland, during...
READ MORESwiss copper alloy producer Ampco Metal has acquired the Schmelzmetall Group, a move aimed at enhancing its position within the industry and expanding its product offerings to the aerospace, defense, and other advanced technology sectors. According to a press release from Ampco Metal, the integration of Schmelzmetall’s sales department is expected to be finalized by...
READ MOREAldebaran Resources has announced an agreement with Nuton Holdings Ltd., a Rio Tinto venture, allowing Nuton to acquire a 20% indirect interest in Aldebaran’s Altar copper project in Argentina. The staged option-to-joint-venture agreement could see Nuton invest up to $250 million in exchange for this stake, with payments scheduled over several phases. The financing agreement...
READ MOREZhejiang Huayou Cobalt, among the largest nickel producers globally, is in discussions with banks for $2.7 billion in financing for its Ford-backed battery-grade nickel project in Indonesia, sources familiar with the matter have indicated. The project aims to boost nickel production for electric vehicles. HSBC and Standard Chartered are arranging the loan and inviting additional...
READ MOREChina Zinc Smelters Purchasing Team (CZSPT) has established new processing fees for domestic zinc concentrate for the first quarter of 2025, ranging between 2,000 and 2,500 yuan per metric ton (approximately $281.57 to $352 USD), according to a statement from state-backed research firm Antaike on Tuesday. The fees for imported zinc concentrate have also been...
READ MOREEuro Sun Mining has signed a binding Memorandum of Understanding (MOU) with Glencore International, granting the multinational mining company the right of first refusal for future concentrate from Euro Sun’s Rovina Valley Project in Romania. This agreement also gives Glencore the right to nominate a director to Euro Sun’s board. The Rovina Valley Project, one...
READ MOREStardust Power, an American company focused on developing battery-grade lithium products, has announced its collaboration with MUFG Bank to support the development of a major lithium refining facility in Muskogee, Oklahoma. The facility is set to become one of the largest of its kind in the United States, aiming to produce up to 25,000 metric...
READ MOREBHP, the world’s largest mining company, has shifted its focus to other growth opportunities after its unsuccessful attempt to acquire Anglo American earlier this year, Chairman Ken MacKenzie said on Wednesday. The company walked away from a \$49 billion bid in May after being rebuffed three times by Anglo American. The end of a six-month...
READ MOREBizongo, a B2B e-commerce platform, has signed a deal with National Aluminium Company Limited (Nalco) to help distribute Nalco’s aluminium products through its marketplace. The agreement aims to significantly enhance Nalco’s distribution capabilities across India. Under the agreement, Bizongo will use its B2B marketplace, BizongoBuy, along with its embedded finance platform, BizongoFin, to facilitate the...
READ MOREGautam Adani-controlled Kutch Copper is reportedly in discussions with Australian mining giant BHP to secure a substantial copper concentrate supply. According to a report by The Economic Times, the potential agreement could involve up to 1.6 million tonnes per annum (mtpa) of copper concentrate. The deal is projected to be worth approximately Rs 30,000 crore...
READ MOREThe company released its third-quarter report for 2024, revealing revenue of 9.919 billion yuan ($1.36 billion), a year-on-year decline of 16.86%. Net profit attributable to shareholders was 217 million yuan ($29.8 million), while net profit after deductions stood at 135 million yuan ($18.5 million). Despite the overall revenue decline, the profitability of the pre-baked anode...
READ MOREIndonesia has announced a joint venture with China’s Contemporary Amperex Technology (CATL) to invest $1.2 billion in battery production, furthering its ambitions to become a global hub for electric vehicles (EVs). The Chinese battery giant, through its subsidiary CBL International Development, has formed the venture with government-owned Indonesia Battery Corporation, according to Bloomberg. The project,...
READ MOREGreenX Metals has released its Quarterly Activities Report for the period ending September 30, 2024, providing updates on a significant arbitration award, the Tannenberg Copper Project, and the Eleonore North Gold Project. GreenX reported a major win in international arbitration against the Republic of Poland under both the Australia-Poland Bilateral Investment Treaty (BIT) and the...
READ MORENippon Denkai announced on September 30, 2024, that it has entered into a seven-year technical support agreement with India’s Hindalco Industries, a manufacturer of copper cathodes and copper rod materials. The agreement, signed on September 28, is intended to support Hindalco as it begins producing copper foil for lithium-ion batteries in India. Under the agreement,...
READ MOREAlcoa has announced a new agreement to supply up to sixteen and a half million metric tons of smelter-grade alumina to Aluminium Bahrain (Alba) over the next decade. The agreement, which will commence in 2026 and run through 2035, allows Alba to procure alumina primarily sourced from Western Australia, ensuring a consistent and reliable supply...
READ MOREGlobal mining giant BHP Group has turned its attention to Botswana’s copper resources following a failed £38.6 billion bid for Anglo American. Reports indicate that the primary motivation behind the bid was BHP’s desire to acquire Anglo’s copper mines, highlighting copper’s growing importance as the world shifts away from fossil fuels. BHP has stated on...
READ MOREMetals Acquisition, which was believed to have considered acquiring the $1 billion Neves Corvo copper and zinc mine in Portugal, has decided not to proceed. Instead, the company announced plans to raise $140 million to reduce debt and “pursue strategic inorganic growth opportunities.” Sources also indicated that South32 had looked at the Neves Corvo asset...
READ MOREAtlantic Metals, a subsidiary of Moxico Resources, has signed a binding agreement with mineral exploration company Latin Metals to acquire a 75% interest in two copper exploration projects in Argentina. These projects include the Esperanza copper-gold porphyry exploration project and the Huachi copper exploration project. To earn this stake, Moxico must meet several financial and...
READ MOREStillwater Critical Minerals has signed a comprehensive, non-binding Memorandum of Understanding (MOU) with US Strategic Metals (USSM) to explore a range of critical minerals-related business opportunities. The MOU reflects a shared alignment in corporate values and aims to advance the development of the critical minerals supply chain in the United States, contributing to the green...
READ MORERio Tinto and Arcadium Lithium plc have announced a definitive agreement in which Rio Tinto will acquire Arcadium in an all-cash transaction valued at $5.85 per share. The deal values Arcadium’s share capital at approximately $6.7 billion. Arcadium is a vertically integrated producer of lithium chemicals, with an annual production capacity of 75,000 tonnes of...
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