Western 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 will support the development of...
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 600,000 tonnes of carbon anodes...
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. The transaction is expected to...
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 machining, special processes, surface treatments,...
Expanded 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 Redwood’s recycling operations, contributing to...
Memorandum 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 the Cooperation The memorandum encompasses...
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 transactions compared to the previous...
Ecopro 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 second phase of QMB. QMB...
Rainbow 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 a 15% and 33% direct...
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 reporting issuer status under Canadian...
