Government

  • UK Export Finance Supports Overseas Projects to Secure Critical Minerals for UK Industries

    BY Lars Jensen
    UK Export Finance (UKEF) will now provide financial support for overseas projects that supply critical minerals essential to major UK industries, as announced by the Chancellor. This move aims to help British industries access a stable and long-term supply of these crucial resources, including minerals like lithium, graphite, and cobalt, which are vital to sectors...
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  • UK Export Finance Expands Support for Critical Mineral Projects Overseas

    BY John Davis
    UK Export Finance (UKEF) will now provide financial backing for overseas projects that source critical minerals essential to major UK industries, such as automotive, defence, and aerospace. This move aims to secure long-term access to materials like lithium, graphite, and cobalt, which are increasingly vital for emerging technologies, renewable energy, and the transition to net...
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  • Expanded U.S. Tax Credit Benefits Metal Refiners, Leaves Out Pure Mining Companies

    BY Sophia Schmitz
    The U.S. government has expanded its Section 45X Advanced Manufacturing Production Credit to cover extraction and material costs, benefiting metal refiners while excluding pure mining companies. This change, part of the Inflation Reduction Act, was announced in final regulations by the Treasury Department and Internal Revenue Service (IRS). The 45X Advanced Manufacturing Production Credit aims...
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  • Aluminium Association of India Calls for Government Support to Boost Investments

    BY John Davis
    The Aluminium Association of India (AAI), the apex body representing the leading aluminium producers in India, has submitted a pre-budget representation to the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce. The submission emphasizes aluminium’s crucial role in India’s economic growth, particularly as the nation aims to achieve the...
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  • U.S. Department of Energy Backs Lithium Processing Project with $2.26 Billion Loan

    BY Sophia Schmitz
    The U.S. Department of Energy (DOE) has closed a $2.26 billion loan to Lithium Americas Corp’s subsidiary, Lithium Nevada Corp, to support the construction of lithium processing facilities at Thacker Pass in Humboldt County, Nevada. The loan, part of the Biden-Harris Administration’s Investing in America initiative, aims to finance the project located adjacent to the...
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  • Russia Seeks to Establish BRICS Precious Metals Exchange to Ensure Fair Pricing

    BY Sophia Schmitz
    Russia is in negotiations with other BRICS nations to establish an international precious metals exchange, Russian Finance Minister Anton Siluanov announced on Thursday. The initiative aims to promote fair pricing and boost trade in the precious metals sector, providing an alternative to Western-dominated trading venues. Siluanov detailed that the proposed mechanism would include the development...
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  • US Urges G-7 Allies to Consider Sanctions on Russian Palladium and Titanium

    BY Lara Browne
    The United States has reportedly urged Group of Seven (G-7) allies to consider imposing sanctions on Russian palladium and titanium as the Biden administration explores new strategies to pressure President Vladimir Putin’s war effort in Ukraine. A person familiar with the matter revealed that Biden administration officials floated the possibility during a meeting of G-7...
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  • Gold Surges as Geopolitical Tensions and Economic Concerns Drive Demand

    BY Sophia Schmitz
    In Monday’s Asian market session, spot gold experienced a sharp upward movement, breaking through $2,731 per ounce and touching a new all-time high of $2,731.43 per ounce. This surge is attributed to escalating geopolitical tensions and rising concerns regarding the U.S. elections, which have driven demand for safe-haven assets. The recent surge in gold prices...
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  • Copper, Crude Oil, and Gold Rally as Global Uncertainty Fuels Investor Moves

    BY Lars Jensen
    Monday’s commodity markets experienced significant movements across copper, crude oil, and gold, influenced by a range of geopolitical and economic factors. Copper contracts on the London Metal Exchange (LME), crude oil futures on NYMEX, and gold futures on COMEX all saw gains as disruptions in mining, escalating geopolitical tensions, and economic signals shaped investor sentiment....
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  • Russia Moves to Exempt Aluminium Production Materials from Import Duties

    BY Lars Jensen
    The Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
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