On July 1, 2023, Mayville Engineering Company, Inc. (NYSE: MEC), commonly known as MEC, successfully finalized the purchase of Mid-States Aluminum (MSA), a privately owned business. MSA, headquartered in Wisconsin, is renowned for its expertise in manufacturing custom aluminum extrusions and fabrications. In addition to its primary offerings, MSA provides valuable services like design, engineering,...
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German company HMS Bergbau AG plans to invest $700 million in lithium extraction in Kazakhstan after gaining control over a local company that owns two relevant deposits in the country, according to the Minister of Industry and Infrastructure Development, Marat Kairbekov. “The German company Bergbau, listed in Europe, has acquired a 51% stake in a...
READ MOREGlencore aims to acquire full ownership of PolyMet Mining, the company developing a copper-nickel mine in northeastern Minnesota with Teck Resources. Currently holding 82% of PolyMet Mining, Glencore offered $71 million to increase its stake to 100%, making PolyMet a private entity. This proposal represents a 167% premium over PolyMet’s closing stock price on Friday,...
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Guangzhou Tinci Materials Technology, a prominent Chinese supplier of electrolytes and electrolyte chemicals for lithium batteries, has unveiled its plans to invest a substantial sum of $280 million in the construction of a new plant in Morocco. The facility, spearheaded by the company’s Singapore-based unit, Yicai Global, will focus on the production and sale of...
READ MOREThe Russian state corporation Rosatom has made a splash in Latin America: its subsidiary Uranium One has signed a framework agreement with Yacimientos de Litio Bolivianos to establish a complex for mining lithium salts and processing them into lithium carbonate in Bolivia. Rosatom’s attention to lithium is not accidental and implies far-reaching goals. The salt...
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Hindustan Copper Ltd is planning to issue a tender for the appointment of a Mine Developer cum Operator (MDO) to reopen and expand the Rakha Copper Mine in Jharkhand. The company recently held a stakeholders’ conference in June to address queries and concerns related to the reopening and expansion of the mine. Arun Kumar Shukla,...
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Imerys, the global leader in mineral-based specialty solutions, has acquired an 80% stake in British Lithium, paving the way for the establishment of the UK’s first lithium mine in Cornwall. With support from the UK Government, the two companies aim to combine their expertise to develop the mine. British Lithium has been conducting drilling and...
READ MORECanadian mineral exploration company Genius Metals has announced its agreement to acquire a 100% stake in the Paka lithium property located in James Bay, Québec, Canada. The property consists of 189 contiguous claims covering over 97km² in the prospective Archean La Grande greenstone belt, just 15km south of the Trans-Taiga government road. As per the...
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Glencore Plc, a prominent commodity trader, is currently engaged in advanced negotiations to support a lithium project in Argentina led by French mining company Eramet SA. According to insiders familiar with the matter, Glencore will enter into an offtake agreement with Eramet, offering financial assistance for the construction of the lithium processing plant in collaboration...
READ MOREACG, the world’s leading integrated pharma manufacturing solutions company, has announced its complete shareholding ownership of Technical Aluminium Foil Company (TAFC). This strategic move signifies ACG’s commitment to expanding its presence in the Middle Eastern and African markets, solidifying its growth trajectory. As a comprehensive provider of pharmaceutical manufacturing solutions, ACG offers a diverse range...
READ MOREShenyang Aluminum and Magnesium Engineering and Research Institute Co. Ltd. (SAMI) and EnPot Ltd, a New Zealand-based company, have signed an Intention to Cooperate Agreement in a ceremony held in Beijing, attended by New Zealand’s Prime Minister Chris Hipkins. The agreement reflects the shared vision of both companies to explore the application of EnPot’s patented...
READ MOREEndeavour Mining announced on Friday the sale of its 90% interests in the Boungou and Wahgnion gold mines in Burkina Faso for approximately $300 million. The move is part of the company’s strategy to prioritize higher quality assets. The buyer, Lilium Mining, a subsidiary of Lilium Capital, is an investment vehicle focused on African and...
READ MOREKazakhstan and the European Union have agreed to strengthen cooperation in critical raw materials on the sidelines of the 13th international congress Astana Mining & Metallurgy held on June 1-2, reported the Ministry of Industry and Infrastructure Development. Minister of Industry and Infrastructure Development Marat Karabayev and Vice President of the European Commission Maroš Šefčovič...
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Canadian diversified miner Teck Resources announced on Tuesday it would spin off its steelmaking coal business into a new company, called Elk Valley Resources (EVR), to focus on energy transition metals. The remaining business will take a new name, Teck Metals, and retain steelmaking coal cash flows for the transition period. The deal will be...
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Swiss miner and trader Glencore said in its annual report it had put up for sale its 23% stake in Peruvian zinc and silver miner Volcan. “In Q4 2022, Glencore commenced a process exploring the possible disposal of its 23.3% economic interest in Volcan. As a result, the carrying amounts of Volcan assets and liabilities...
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Photo courtesy of Norilsk Nickel Press Service Norilsk Nickel, the world’s largest producer of nickel and palladium, has extended contracts with the majority of its customers for 2023. This news comes straight from the company’s Chief Financial Officer, Sergey Malyshev, who shared the details with journalists. “We are not giving our clients the runaround,” said...
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Large metals and commodities trader Traxys announced on Monday that its management and a pool of investment firms would acquire 100% of its shares. The deal is expected to be closed in May after regulatory approvals, its value is undisclosed. The company’s сurrent owners include funds managed by global investment firm Carlyle and affiliates of...
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Newmont Corp, the world’s largest gold miner by market cap and production, has offered $16.9 billion to acquire Newcrest Mining Ltd, but this may not be enough amid the management reshuffle in the latter, Reuters reported on Monday, citing analysts. The current all-share no-cash bid represents a 21% premium to Newcrest’s stock price before the...
READ MOREThe diversified mining conglomerate Rio Tinto has awarded engineering company Civmec a contract worth 330 million Australian dollars ($229 million) to build and modify facilities for its Western Range project in the iron ore-rich Pilbara region in Western Australia, Civmec announced on 9 January. Under the contract, Civmec will build a new run of mine...
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Constellium SE, a leading producer of aluminium products, has announced a multi-year contract with Daher, a French aircraft manufacturer, to supply a wide range of flat-rolled aluminium products. The contract will focus on supplying materials for Daher’s TBM and Kodiak aircraft, and will include joint supply chain initiatives and product development. Who Constellium SE, a...
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Lion Copper and Gold Corp. announced that it has completed the Stage 1 Programme of Work and has reached an agreement with Rio Tinto America Inc. (“Rio Tinto”) on the scope of the Stage 2 Program of Work with Nuton, a Rio Tinto venture. Rio Tinto will now provide Stage 2 funding of USD 5,000,000...
READ MORERussia’s largest lithium deposit, the Kolmozerskoye field, is set to go up for auction in 2023 with an initial price of 1.6 billion rubles. Heavily sanctioned by western governments, with no easy way to trade with global lithium suppliers, Russia was forced to restart the Kolmozersky lithium project to secure supplies of the metal, an...
READ MORERing of Fire Metals (RoFM) has signed a memorandum of understanding (MoU) with the Webequie First Nation, outlining a framework for collaboration on proposed development in Northern Ontario’s Ring of Fire. Who Ring of Fire Metals and the Webequie First Nation have signed a memorandum of understanding outlining how the two parties will collaborate to...
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Glencore is to sign a long-term agreement with recycling technology firm ACE Green Recycling, whereby the latter will supply recycled lead and key metal-based battery end products from recycled lithium-ion batteries. Under the 15-year agreement, Glencore will receive up to 100% of ACE’s products from four of its proposed lead-acid and lithium-ion battery recycling parks...
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