- Business
Liberty Steel USA has secured a $125 million loan from Eclipse Business Capital, replacing financing from Wells Fargo and Bank of Montreal.
Liberty Steel USA has secured a $125 million loan from Eclipse Business Capital, replacing financing from Wells Fargo and Bank of Montreal.
The multiyear agreement with commodities firm Glencore is the latest in the auto industry’s race to secure key battery materials.
The deal calls for Centerra to yield control of its subsidiary Kumtor Gold and an affiliate to state-owned refiner Kyrgyzaltyn. In exchange for control, Kyrgyzaltyn is to transfer its 26% stake in Centerra back to the Canadian company.
The administration would include minerals like lithium, nickel and graphite, cobalt and manganese under the Korean War-era national security mobilization law to help mining companies access funding.
Canadian miner Kinross Gold is in exclusive talks to sell its giant Arctic Russian mine to Fortiana Holdings, according to people familiar with the matter.
Severstal says that interest payments are frozen because of regulatory investigations and that it is committed to fulfilling its obligations under the loan.
The government said the agreement would clear the way for the largest single investment in the country.
A Chinese company is negotiating with the Taliban to mine one of the world’s largest untapped reserves of copper.
Chinese firms have spent billions of dollars buying out U.S. and European miners of cobalt, a critical commodity in the transition to cleaner energy. Now a court has ordered one of the largest to cede control of one of its mines.
The plane maker has suspended purchasing the key metal for airplane production but must still deal with ties with a company linked to Sergei Chemezov, a sanctioned oligarch and Putin ally.
The Kryvyi Rih mill joins other foreign-owned operations suspended amid the Russian invasion, likely putting further upward pressure on metal prices.
The company is showing investors the money but structural shifts looming in the global economy will necessitate big mining investments too.
Businesses are passing their rising costs on to consumers with new fees, truncated services and reduced contents in packaged goods, which don’t always show up in inflation data; “shrinkflation” hits a block of cheese.
Investors participating in the Series B funding round include Apollo Projects, BHP, and Canada’s largest pension fund.
Energy companies hope to extract enough “white gold” from a geothermal reservoir to meet the demand for a material that helps power smartphones and electric cars.
A report commissioned by Rio Tinto found that nearly half of workers have experienced bullying, and 28% of women have been sexually harassed.
The mining company is considering its metals future as costs from the Brumadinho disaster continue to rise—along with tensions with locals, regulators and investors.
In a sign of resource nationalism’s impact on the mining sector, Rio Tinto renegotiated agreements with the Mongolian government so that a delayed and costly expansion of the Oyu Tolgoi copper mine can advance.
Some longtime enterprises in the country’s storied $24 billion sector have headed for the exits, threatening an already struggling economy.
The sanctions done in partnership with the European Union target officials of the Nicaraguan military, its minister of defense, the Nicaraguan Institute of Telecommunications and Mail, and the state-owned mining company.
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