The Financial Market Commission (CMF) in Chile has requested Codelco to furnish a comprehensive list of individuals involved in the negotiation with SQM regarding the extension of their lithium extraction contract in the Salar de Atacama until 2060. This inquiry aims to investigate potential trading of shares in the non-metallic mining company during the eight-month...
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Key Developments in Offtake Agreement Marula Mining, a company focused on mining and development in Africa, is progressing in its negotiations for a long-term offtake and marketing agreement for lithium products from its Blesberg Lithium and Tantalum Mine. The company expects to finalize an exclusive agreement with a prominent European global commodity trading group for...
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Strategic Divestment by Gold Fields Gold Fields has announced its decision to divest its 45 percent stake in the Asanko gold mine in Ghana. This move is part of a strategic reorientation within the mining sector, with the stake being transferred to its TSX-listed joint venture partner, Galiano Gold. Transaction Details and Consideration The divestment...
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Eneos Holdings Announces Significant Share and Interest Transfers Eneos Holdings, Inc. has made a crucial decision regarding its subsidiary, JX Metals Corporation, and its partnership with Marubeni Corporation. JX Metals Corporation will transfer 20% of its shares in Pan Pacific Copper Co., Ltd., and a 3.27% interest in the Los Pelambres Copper Mine to Marubeni...
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Ongoing Negotiations for Vale Share Divestment The Indonesian Government, through Minister of State-Owned Enterprises (SOEs) Erick Thohir, has revealed ongoing negotiations regarding the divestment of a 14 percent stake in PT Vale Indonesia Tbk. This divestment, crucial for the extension of Vale Indonesia’s contract expiring on December 28, 2025, is in the hands of mining...
READ MOREHancock and SQM Partner for $1.7bn Azure Bid Gina Rinehart’s Hancock Prospecting collaborates with global lithium giant SQM in a $1.7 billion joint takeover of Azure Minerals. The move signifies Hancock’s entry into the Western Australian lithium sector, partnering with SQM through SH Mining, a company shared equally between Hancock’s Hanrine Future Metals and SQM....
READ MOREFiling of Patent Application USA-based Novelis has officially filed a patent application for a novel metal joiner system, along with associated methods and products. The patent application, bearing number 202317000543 A, was filed on January 4, 2023. Inventors and Patent Details The team of inventors includes Lin Dechao, Zhu Dewei, Son Changook, Haines Kyle, Nazro...
READ MOREStrategic Collaboration and Financial Boost Arizona Sonoran Copper Company experienced a 10% increase in its stock value in Toronto following a significant partnership agreement with Rio Tinto subsidiary, Nuton. This collaboration offers Nuton a 40% stake in the Cactus project, located at the site of the historic Sacaton mine south of Phoenix. The deal also...
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New Contract for Nickel Matte Sales with Glencore Nickel Industries Limited (Nickel Industries) has announced its new nickel matte sales contract with Glencore AG (Glencore), effective from January 2024. This initial 6-month contract will involve the sale of nickel matte from the Company’s Hengjaya Nickel Project (HNI) to Glencore, marking Nickel Industries’ first direct sales...
READ MOREChina’s Aluminium Export Trends China, a significant global aluminum market player, reported an increase in aluminum exports in November, reaching 489,595 tonnes. This marks an upturn from the 440,258 tonnes exported in October. However, for the January-November period, China’s total aluminum exports were down by 15.3 percent year-on-year, totaling 5.19 million tons. Market and Strategic...
READ MOREOverview of the Acquisition Glencore PLC has successfully completed the acquisition of significant stakes in two key Brazilian assets, Alunorte SA and Mineracao Rio do Norte SA, from Norsk Hydro ASA. The deal, valued at USD 775 million, enhances Glencore’s position in the alumina and bauxite mining sectors. Details of the Stake Purchase The acquisition...
READ MOREInnovative CO2 Capture Initiative Arca Climate Technologies, emerging from its parent entity Carbin Minerals, has launched a pioneering pilot project in collaboration with BHP. The project, supported by a C$1.25 million ($920,000) grant from the B.C. Centre for Innovation and Clean Energy (CICE), aims to capture CO2 from mine waste. This initiative builds on Arca’s...
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Key Agreement Signed for Stake Divestment Vale Canada and Sumitomo Metal Mining have agreed to divest part of their stake in Vale Indonesia to Indonesia’s state-owned Mineral Industri Indonesia (MIND ID). The agreement, formalized during the 2023 Asia-Pacific Economic Cooperation Meeting, is a significant step towards MIND ID acquiring a controlling interest in Vale Indonesia....
READ MOREWestern Copper and Gold Corporation has secured an additional C$6 million investment from Rio Tinto Canada Inc. This agreement entails Rio Tinto purchasing 3,468,208 common shares of Western at C$1.73 per share. As a result, Rio Tinto’s stake in Western will increase to approximately 9.7%. Funding Boost for Casino Project The proceeds from this investment...
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Norsk Hydro, an aluminum industry company, has established a contract with Sanvira Tech for the supply of carbon anodes. The agreement spans eight years, with the possibility of extension, aiming to provide a steady supply for Hydro’s aluminum smelters. Contractual Supply Details The contract stipulates that Sanvira Tech will supply up to 25% of the...
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Agreement Details and Liabilities Transfer Nornickel, via its subsidiary Norilsk Nickel Africa Proprietary Limited, has finalized an agreement to transfer its 50% stake in the Nkomati joint venture to African Rainbow Minerals Limited. The deal includes the transfer of all Nkomati’s liabilities, including environmental obligations, to ARM, for a fee payable by NNAf to ARM....
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New Contract and Production Details EPI, a key player in the UAE’s aerospace, oil, gas, and defense industries, has secured a contract to produce prototype aluminium and assembly parts for Raytheon’s Coyote® Counter-UAS interceptor. This contract marks the first collaboration between EPI and Raytheon, a business unit of RTX. EPI’s responsibilities will encompass manufacturing, complex...
READ MOREExpanded Recycling Agreement and Material Sourcing Toyota Motor North America and Redwood Materials have intensified their collaboration with an expanded recycling agreement. This alliance focuses on creating end-of-life solutions for Toyota’s hybrid and electric vehicle batteries. Additionally, Toyota plans to source critical battery components such as Cathode Active Material (CAM) and Anode copper foil from...
READ MOREMemorandum of Understanding Signed Azerbaijan Industrial Corporation, through its subsidiary Azeraluminium, has signed a Memorandum of Understanding with the Institute for Advanced Engineering and Lemon Metal from the Republic of Korea. This collaboration focuses on the development of the aluminium industry, including the production of aluminium alloys and the establishment of research centers. Details of...
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Significant Growth in Business Agreements The Aluminum Corporation of China, also known as Chalco Group, has reported a remarkable 33% increase in its business agreements at the Sixth Fair. The group’s trading sub-groups, Chalco Guomao Group, Chalco Materials, and China Copper Guomao, collectively signed deals worth $4.957 billion. This marks a substantial growth in business...
READ MOREEcopro has signed an agreement to invest in the second unit of the nickel smelter ‘QMB’ operated by China’s GEM in Indonesia to secure nickel, a key mineral for secondary batteries. The CEO of Ecopro, Song Ho-joon, visited Indonesia last week and met with GEM Chairman Heo Kae-hwa to sign an investment contract for the...
READ MORERainbow Rare Earths Limited and TechMet have entered into an option agreement, granting TechMet the right to invest $50 million to fund a significant part of the equity component required for the project financing for Rainbow’s Phalaborwa project in South Africa. Under the terms of the agreement, the $50 million investment will give TechMet between...
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Acquisition Completion Glencore has completed the acquisition of the remaining shares of PolyMet Mining, integrating the remaining 17.82% minority stake into its holdings. Delisting and Reporting Status Update Following the acquisition, PolyMet has initiated procedures to delist its shares from the Toronto Stock Exchange and the NYSE American. PolyMet is also transitioning out of its...
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Strengthening Ties with Chinese Industry Leaders Rio Tinto has announced new commercial agreements with leading Chinese metal companies to supply copper concentrate and bauxite, signifying a deepening of ties with key players in the Chinese market. The Partnerships The signed agreements entail Rio Tinto providing copper concentrate to Jinchuan Group and Baiyin Nonferrous Group, both...
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