Lithium Americas has announced the completion of its joint venture (JV) with General Motors Holdings to fund, develop, construct, and operate the Thacker Pass lithium project in Humboldt County, Nevada. The project aims to supply battery-quality lithium carbonate for the North American critical minerals supply chain. Under the terms of the JV, Lithium Americas retains...
READ MORECopper and gold prices saw upward momentum on Friday, driven by developments in global production and demand as well as broader economic conditions. On the London Metal Exchange (LME), three-month copper contracts rose to $8,914 per tonne, marking a 0.4% increase. This gain was supported by a 1.6% decline in China’s refined copper production in...
READ MOREThe Federal Reserve’s decision to cut interest rates on Wednesday led to a sharp drop in gold prices, with spot gold tumbling over 2% to a one-month low. Spot gold closed the session down $60.36, or 2.28%, at $2,585.54 per ounce—the lowest level since November 18. The U.S. dollar index surged over 1% to a...
READ MOREGreen Technology Metals has received a letter of interest from Export Development Canada (EDC) for potential project financing of up to C$100 million for the Seymour lithium project in Ontario. This marks a significant milestone for the development of what could become the first lithium mine in Ontario and the second in Canada. Seymour hosts...
READ MOREThe ongoing conflict between South Korea’s Korea Zinc and private equity firm MBK Partners has escalated, with both sides exchanging public criticisms over business strategies and governance. The dispute began in September when shareholder Young Poong, a co-founding family entity, joined forces with MBK Partners to make an unsolicited bid for a majority stake in...
READ MOREJapan’s Sumitomo Chemical announced on Thursday that it will sell its 2.97% stake in the Brazilian smelter Nippon Amazon Aluminium to YKK AP for an undisclosed amount, marking its exit from the business of reselling imported aluminum ingots. The decision was attributed to the high profitability volatility caused by fluctuating international market conditions. Despite exiting...
READ MOREPalliser Capital has escalated its campaign to end Rio Tinto’s dual-listed structure by calling for an independent review. In a letter sent to Rio Tinto’s board on Thursday, the activist investor, alongside other shareholders, demanded the inclusion of a resolution in the next annual general meeting to initiate a “comprehensive and transparent” review of the...
READ MOREFranco-Nevada Corporation has entered into a $500 million precious metals streaming agreement with Sibanye-Stillwater, securing a stake in production from key mining operations in South Africa. The deal will provide Franco-Nevada with a stable supply of gold and platinum from the Marikana, Rustenburg, and Kroondal operations, located on the Bushveld Complex’s Western Limb. Sibanye-Stillwater’s Western...
READ MOREOn December 18, Volkswagen Group’s battery subsidiary PowerCo announced its first investment in the lithium supply chain through a strategic partnership with Canadian lithium developer Patriot Battery Metals. The collaboration secures a long-term supply of lithium raw materials essential for Volkswagen’s electric vehicle ambitions. As part of the agreement, Volkswagen Group has invested $48 million...
READ MOREBattery materials company Novonix has received a conditional commitment from the US Department of Energy (DOE) for a direct loan of up to $754.8 million. The loan, if finalized, will partially fund the construction of a synthetic graphite manufacturing facility in Chattanooga, Tennessee, under the DOE’s Advanced Technology Vehicles Manufacturing Loan Program. The facility will...
READ MORELithium prices have declined sharply over the past two years due to slowing demand and oversupply, but the long-term outlook for the sector remains positive as forecasts predict a significant supply shortfall by 2030. The anticipated deficit is driving substantial investments aimed at scaling production capacity. On December 12, 2024, Rio Tinto announced a $2.5...
READ MOREVedanta Resources (VRL), the London-headquartered metals and mining firm, is expected to encounter funding gaps of $850 million in FY25 and $1.4 billion in FY26, according to a report by CreditSights. While the firm’s recent bond restructuring has eased short-term refinancing risks, access to funding remains constrained, and its interest burden remains high. CreditSights identified...
READ MOREThe U.S. Department of Energy (DOE) has announced $17 million in funding for projects aimed at advancing critical materials innovation while promoting sustainable, economic, and efficient supply chain solutions. Spanning 11 states, these initiatives focus on strengthening manufacturing processes for essential technologies such as hydrogen fuel cells, high-efficiency motor magnets, high-performance lithium-ion batteries, and power...
READ MOREGlencore has confirmed that David Wormsley will retire from its Board of Directors, effective December 31, 2024. Kalidas Madhavpeddi, Chairman of the Board, acknowledged Wormsley’s contributions, stating, “David has been an effective and thoughtful contributor to the work of Glencore’s Board of Directors. On behalf of the Board, I would like to thank him for...
READ MOREVulcan Energy has successfully raised €100 million (A$164 million) through a fully underwritten institutional placement and strategic placement. The capital was secured via the issuance of approximately 28 million new shares at an offer price of A$5.85 (€3.57) per share. The placement attracted strong interest from both existing and new institutional investors, reflecting growing support...
READ MOREGold prices climbed nearly $34 on Tuesday, reaching a two-week high of $2,693.78 per ounce. The surge was driven by escalating geopolitical tensions and strong market expectations for a Federal Reserve interest rate cut next week. Spot gold ended the session up $33.75, or 1.27%, with buyers targeting the $2,700 mark for the first time...
READ MOREBHP, the world’s largest mining company, remains flexible in its approach to copper growth, whether through expanding its existing operations or pursuing acquisitions. Speaking on Thursday, Geraldine Slattery, BHP’s president of Australia, emphasized that the company is not strictly focused on either internal or external growth to increase its copper footprint. “Growth is certainly a...
READ MORERio Tinto appears to be focusing on developing its existing copper resources rather than pursuing new acquisitions to boost copper production, according to analysts from Morgan Stanley. Following an investor briefing, the analysts noted that Rio Tinto’s new copper chief, Katie Jackson, is concentrating on ramping up production at the Oyu Tolgoi mine and addressing...
READ MORENegotiations between major overseas aluminum producers and Japanese trading companies over premiums for aluminum ingots for the January-March 2025 period are expected to be prolonged, with some officials suggesting talks could continue into next year. Overseas producers have proposed premiums of $230 to $260 per ton, marking a 31-49% increase from the previous quarter’s rate...
READ MOREVelta Holding U.S., the parent company of Velta based in Dnipro, Ukraine, has announced that it has received a non-binding Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM) for \$60 million. The LOI outlines a provisional funding package with a 20-year repayment term to support the development of Velta’s Titanium...
READ MOREDuring Wednesday’s New York trading session, spot gold experienced a steep drop, with prices falling nearly $25 from the day’s high. Analysts indicated that stagnating inflation progress led to gold giving up most of its early gains, as economic data suggested that the Federal Reserve might adopt a more cautious approach to future interest rate...
READ MOREDespite persistent challenges with platinum prices, the precious metal market is seeing support as the World Platinum Investment Council (WPIC) predicts a market deficit in both 2024 and 2025. Edward Sterk, WPIC’s director of research, highlighted that while demand for platinum remains steady, supply has struggled to keep up, a trend that looks set to...
READ MOREMolyon, a startup spun out of 15 years of research at the University of Cambridge, has secured $4.6 million in funding to kickstart manufacturing at its first pilot facility for lithium-sulfur (Li-S) batteries. The company claims its Li-S technology offers twice the energy density of traditional lithium-ion batteries, marking a significant advancement in energy storage...
READ MOREKazakhstan is positioning itself to play a greater role in global production of rare and rare earth metals, drawing interest from the European Union (EU) as both parties explore potential partnerships. To maximize collaboration, experts suggest that Europe must align its green energy diplomacy with Kazakhstan’s local needs. A recent government meeting, led by Kazakh...
READ MORE
