Industry News

Albemarle (ALB) Selects South Carolina for $1.3B Lithium Plant

Albemarle Corporation (Free Report) announced that it will set up its lithium mega-flex facility in Chester County, SC. The new hydroxide facility will include an initial investment of $1.3 billion or more, enabling the company to meet the increasing demand for electric vehicles and lithium-ion batteries. Albemarle’s Mega-Flex plant will process various lithium feedstock, that includes recycled batteries, to manufacture...

Queensland Pacific Metals inks nickel supply agreement with New Caledonian mining company SMGM

Queensland Pacific Metals Ltd (ASX:QPM) has struck a binding ore supply deal with New Caledonian company Société Minière Georges Montagnat (SMGM), one of the original supporters of QPM and the TECH Project. The companies have formalised the 10-year ore supply agreement for up to 200,000 wmt per annum, targeting a typical limonite ore specification of 1.5% nickel and 0.18% cobalt....

XLR8 Metals is preparing a brew with strong nickel potential in Tanzania and Sweden

Nickel is one of the critical metals which plays an instrumental role in the energy transition and it’s likely that the electrification of transport will see nickel prices remain strong over the coming decades. The metal’s inclusion in the US critical minerals list, underpinned by the US Government’s Inflation Reduction Act, along with the recently announced Critical Raw Materials Act...

Ground Breakers: Gold retreats, copper-zinc discovery powers Aeris

Gold miners have shed the exuberant skin they formed as failing banks sent investors rushing for safe havens early this week. That has been replaced by a nervous atmosphere, with nailbiting all round as gold producers wait to see where the US Fed heads with interest rates tonight. Prices fell over 2% overnight, with the London Bullion Marketing Association reporting...

Posco Future M to invest $300 million to build high-nickel cathode plant

Posco Future M will invest 392 billion won ($300 million) to build a high-nickel cathode plant in Pohang, to seize the opportunity that is the growing demand for the high-density battery. The facility in North Gyeongsang will produce 30,000 tons of high-nickel nickel-cobalt-aluminum (NCA) cathodes annually, which is enough to supply batteries for 300,000 EVs. The investment comes as the...

Copper rose as worries over a global banking crisis eased

Copper yesterday settled up by 0.48% at 758.35 as worries over a global banking crisis eased, with copper further supported by improving consumption in China. Measures by authorities to avert a global banking crisis lifted market confidence as investors welcomed a historic Swiss-backed acquisition of troubled Credit Suisse (SIX:CSGN) by UBS Group and emergency dollar liquidity from top central banks....

McEwen says stage is set for better 2023, urgency of copper IPO reduced

Canadian mining firm McEwen Mining has pushed out plans for going public with its copper venture to later in the year or early next year, chairperson and chief owner Rob McEwen said on Tuesday, noting that the recent investments by European automotive group Stellantis and diversified major Rio Tinto have reduced the urgency to do an initial public offering (IPO)....

Recharge Metals is moving into Quebec’s hottest lithium address

Recharge Metals is pivoting towards lithium exploration with its acquisition of intriguing Express project in the heart of Quebec’s James Bay region – an emerging lithium district. The large-scale project, which covers 73.5km2, has reported outcropping pegmatites and is interpreted to be within a spodumene-bearing pegmatite trend that hosts the high-grade James Bay Deposit and Pontax Lithium Project. However, the...