Sual Partners, controlled by Viktor Vekselberg and his partners, is seeking to prevent the proposed buyback of UC Rusal shares. According to Vedomosti, UC Rusal is pursuing the buyback to capitalize on its share of the asset in the absence of dividend payments. UC Rusal’s main shareholder, En+, founded by Oleg Deripaska, holds a 56.9%...
READ MORERussian aluminium giant Rusal is considering a share buyback valued at approximately 15 billion rubles ($156 million), following a review by the company’s board of directors. The board has begun a preliminary assessment of the potential buyback, noting that it could be favorable for shareholders overall. However, no final decision has been made, and the...
READ MOREThe ongoing hostile takeover bid by MBK Partners and Young Poong for Korea Zinc is raising concerns about potential disruptions to the global semiconductor supply chain. Korea Zinc, a key supplier of semiconductor-grade sulfuric acid, plays a crucial role in providing this essential material to South Korean semiconductor giants Samsung Electronics and SK Hynix. The...
READ MOREFrench energy company TotalEnergies is exploring the possibility of expanding into copper trading, according to a report by the Financial Times. This potential move would align with the growing demand for metals essential to the global energy transition, as copper plays a crucial role in renewable energy and electrification technologies. Rahim Azouni, senior vice president...
READ MORERio Tinto has expressed interest in acquiring Arcadium Lithium, positioning itself to become one of the largest lithium producers globally. The announcement comes at a time when global lithium prices have seen a sharp decline, largely due to economic challenges in China and a decrease in demand for electric vehicles (EVs). In a statement issued...
READ MORENornickel has signed a landmark agreement with RusHydro to purchase 10,000 carbon units, representing the largest transaction in Russia’s emerging carbon market to date, the miner said in a statement. The carbon units were generated as a result of converting Vladivostok Thermal Power Plant No. 2 from coal to natural gas. This transition significantly reduced...
READ MORENickel 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 MOREShares of Korea Zinc, the world’s largest metal processing company, rose sharply following expectations of an increased takeover bid from South Korean investment firm MBK Partners and Young Poong, according to reports from foreign media. On September 19, Korea Zinc’s shares closed at 707,000 won, valuing the company at 14.7 trillion won ($11.1 billion), surpassing...
READ MOREOn September 18, Alaska Energy Metals announced a partnership with the Colorado School of Mines and Virginia Polytechnic Institute to investigate how much carbon dioxide a mine at its Nikolai project in Alaska could capture and store, while also supplying nickel, copper, cobalt, and platinum group metals (PGMs) for the energy transition. The study focuses...
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 MORECodelco and SQM have taken a step forward in their collaboration to produce lithium in the Salar de Atacama. The National Economic Prosecutor’s Office (FNE) in Chile has begun the process of reviewing the antitrust aspects of the Association Agreement between the two companies, which was signed on May 31, 2024. This investigation is a...
READ MORESaudi Arabian Mining Company (Ma’aden) has announced a major acquisition deal to purchase the remaining shares of Ma’aden Bauxite and Alumina Company (MBAC) and Ma’aden Aluminium Company (MAC), previously held by subsidiaries of Alcoa Corporation. The Share Purchase and Subscription Agreement (SPSA), signed on September 15, 2024, will allow Ma’aden to acquire a 25.1% stake...
READ MOREJapan Develops Innovative Alloy for Aviation Researchers at Japan’s National Institute of Materials Science have created an alloy of titanium and nickel that combines the strength of steel with the elasticity of rubber. In experiments, the alloy was elongated by 50% and then further stretched by 12% after being heated to 300°C. This process resulted...
READ MOREEcoPro has announced plans to collaborate with Chinese precursor manufacturer GEM to develop an integrated cathode material business in Indonesia. This partnership will encompass the entire cathode material value chain, including smelting, precursor production, and cathode materials, aiming to disrupt market prices through significant cost reductions. EcoPro Materials will acquire a stake in GEM’s Indonesian...
READ MORECanada Nickel has announced that Export Development Canada (EDC) may provide a $500 million loan for its Crawford project in northern Ontario, which is poised to become the world’s largest nickel-cobalt sulphide development. This potential funding, combined with $600 million in tax credits from the Canadian government, would support the construction of the C$3.5 billion...
READ MOREBaoshan Iron & Steel (Baosteel), Baowu Aluminum, and Japan’s Kobelco have received approval from the European Commission to establish a joint venture focusing on the production of automotive aluminium sheets. The transaction, reviewed under the EU Merger Regulation, raised no competition concerns within the European Economic Area, as confirmed by the Commission’s simplified merger review...
READ MOREAndrada Mining has announced a partnership with Sociedad Química y Minera de Chile (SQM), one of the world’s largest lithium chemicals producers, through its subsidiary SQM Australia. The agreement, pending approval from the Namibian Competition Commission, will focus on developing Andrada’s Lithium Ridge asset (ML133) in Namibia. Key highlights of the partnership include:
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Eurasian Resources Group (ERG), a Luxembourg-based diversified natural resources company, has announced a pre-export finance agreement with Glencore International AG and the London Branch of Bank of China Limited. This agreement will allow ERG to borrow up to $150 million, which will be used for working capital and other general corporate purposes. The financing is...
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Cyprium Metals has secured a A$40 million (USD 27 million) senior loan facility from Glencore to support its corporate initiatives and the advancement of the Nifty copper complex near Port Hedland in Western Australia. The loan, which has a four-year term, will be used to fund early works, feasibility studies, and to repay an existing...
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BAIYU Holdings has announced a significant development through its subsidiary, BMYA New Energy Technology, securing a $60 million purchase and sales contract for electric lithium batteries with Feng’s Auto Parts, a U.S. auto parts supplier. This deal marks the entry of BAIYU’s proprietary lithium battery brand into the U.S. market, enhancing its position in the...
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Eurobattery Minerals has signed a non-binding offtake agreement with Boliden for its Hautalampi battery minerals project in Finland. The agreement, set to last for at least ten years, marks a significant step forward for the company’s plans to produce carbon-free critical raw materials. Roberto García Martínez, CEO of Eurobattery Minerals, praised the agreement as a...
READ MORESamsung SDI and General Motors have solidified their partnership to bolster the electric vehicle (EV) market by finalizing an agreement to establish a joint battery manufacturing facility in the United States. The deal was formalized during a signing ceremony at Samsung SDI’s Seoul office on Tuesday, with key representatives from both companies in attendance. This...
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Jubilee Metals has entered into a three-year renewable power purchase agreement with Lunsemfwa Hydro Power, a key independent hydro and solar power producer in Zambia, to ensure a consistent and reliable power supply for its copper production operations at Roan and Sable, starting September 1. This agreement is crucial for Jubilee as it navigates the...
READ MOREFalco Resources has announced the formation of Technical and Strategic Committees, a move aligned with the Operating Licence and Indemnity Agreement (OLIA) signed with Glencore Canada earlier this year. These committees are intended to ensure the safe and coordinated development, construction, operation, and eventual closure of Falco’s Horne 5 Project, particularly in relation to Glencore’s...
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