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☆ South Africa has one of the world’s largest manganese reserves. So why does it outsource for processing?
▼ + stars: | 2024-04-30 | by ( Jackelyn Prager | ) edition.cnn.com time to read: +5 min

CNN —On delivery day at the Manganese Metal Company’s industrial complex in Mbombela, South Africa, truckloads of manganese ore from the Kalahari Basin in the Northern Cape are ushered inside for processing. South Africa has the world’s largest manganese reserves; however, the International Manganese Institute estimates only 2% of the manganese ore produced within the country is locally processed. The Manganese Metal Company says it receives 80,000 tons of ore every year, with plans to build a $25 million commercial processing plant by the end of 2026. With an abundance of manganese reserves, South Africa has potential to become a leader in high purity manganese sulfate production, but d’Harambure says “issues with the electricity sector in South Africa” and “an increase in electricity prices” have made it difficult to produce manganese chemicals and alloys there. Green potentialThese obstacles are not stopping the Manganese Metal Company from trying to capitalize on the EV boom and expand its processing facilities.

Persons: Louis Nel, ” Nel, Aloys d’Harambure, Nel, ” d’Harambure, ”, d’Harambure, D’Harambure, It’s Organizations: CNN, International Manganese Institute, Metal, International Energy Agency, Metal Company, Employees, Manganese Locations: Mbombela, South Africa, Northern, EVs, China, Mexico, Australia, Europe, Africa

☆ GM to spend $19 billion through 2035 to source EV battery materials from LG Chem
▼ + stars: | 2024-02-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors plans to spend $19 billion over roughly the next decade to source critical materials for use in electric vehicle batteries from LG Chem, the companies said Wednesday. The long-term supply contract will see LG Chem supply GM with more than 500,000 tons of cathode materials – include nickel, cobalt, manganese, aluminum – from 2026 through 2035, the South Korean supplier said in a release. LG Chem said it aims to "bolster cooperation with GM in the North American market" through the deal. Jeff Morrison, GM vice president of global purchasing and supply chain, said the "contract builds on GM's commitment to create a strong, sustainable battery EV supply chain to support our fast-growing EV production needs." The contract is likely one of the largest, if not the largest, EV supply deals that GM has signed.

Persons: LG Chem, Jeff Morrison Organizations: DETROIT, Motors, LG Chem, South, LG, GM, EV Locations: Tennessee, North America

☆ Norway defends deep-sea mining, says it may help to break China and Russia's rare earths stronghold
▼ + stars: | 2024-01-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +7 min

Ocean Rebellions protest The Deep Sea Says No Why the deep sea? (Photo by Charles M. Vella/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty ImagesNorway says its controversial decision to approve deep-sea mining is a necessary step into the unknown that could help to break China and Russia's rare earths dominance. "We have been looking into the seabed minerals opportunity for a long time. Campaigners fear that exploration and exploitation activities in the deep sea could permanently alter a home that is unique to known — and many as yet unknown — species. "The argument put forward by the Norwegian government — and the deep-sea mining industry — that 'deep-sea mining can be done in a sustainable way' goes against the large consensus of scientific literature," Roux said.

Persons: Luciana, Charles M, Anne, Sophie Roux, Terje Aasland, Aasland, Arild Hermstad, Camille Etienne, Lucas Bravo, Javad Parsa, Norway's Aasland, Roux, — Organizations: SOUTH, Getty, IEA, Energy, CNBC, Afp, European Commission, Ocean Alliance, Lightrocket Locations: ROTTERDAM, SOUTH HOLLAND, NETHERLANDS, Norway, China, Europe, Russia, Norwegian, Vietnam, Brazil, Svalbard, French, Oslo

☆ Alaska's once crystal-clear rivers now resemble dirty orange soda, puzzling researchers
▼ + stars: | 2024-01-15 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +5 min

The melting permafrostEven before researchers knew about the orange waters, they realized northern Alaska was rapidly changing. The Arctic Inventory and Monitoring Network mapped locations of orange streams, and aerial photos show how easy they are to spot because of their brightness. When scientists went to the orange streams to count fish, insects, algae, and other aquatic life , "biodiversity just crashed," biologist Mike Carey told Scientific American . Advertisement"The fish were totally gone," Koch told BI. The streams Koch monitors near the Brooks Range are fairly remote, but the rivers they feed into provide fish for human communities in this region.

Persons: John McPhee, Joshua Koch, It's, —, Michael Carey, Koch, Carson Baughman, Kenneth Hill, Mike Carey Organizations: Service, US Geological Survey, Koch, Survey, Geological Survey, National Park Service, University of California, Davis , Alaska Pacific University, University of Alaska, Scientific, BI Locations: Salmon, Beaufort, Kobuk, , Alaska, Davis ,, Anchorage —, Alaska

☆ U.S. Political Support for Deep-Sea Mining Is Growing Despite Pushback From Allies
▼ + stars: | 2024-01-13 | by ( Yusuf Khan | ) www.wsj.com time to read: +3 min

Photo: The Metals CompanyU.S. political support for deep-sea mining has taken on a new urgency as Norway this week became the first country to legalize extraction of minerals from the ocean bottom despite strong opposition from western allies. On Tuesday, Norway became the first country in the world to approve deep-sea mining within its waters despite pushback from environmental groups and some nations. Despite the opposition, deep-sea mining in international waters could become legal this year. The International Seabed Authority—the United Nations-backed organization that regulates all mineral activities in international waters—has been drafting a mining code to govern the practice. “Promising to protect the oceans one day and proposing deep-sea mining the next, is next-level hypocrisy [for Norway],” said Amanda Louise Helle, Greenpeace Norway activist.

Persons: Sen, Lisa Murkowski, ”, Amanda Louise Helle, “, Yusuf Khan Organizations: Metals Company, Pentagon, Department of Defense, United Nations, ISA, U.S . Senate, United Nations Convention, Clarion, Greenpeace Locations: Norway, China, United States, France, Germany, Canada, U.S, isn’t, Alaska, Hawaii, Greenpeace Norway

☆ Norway poised to open vast ocean area to controversial deep-sea mining
▼ + stars: | 2024-01-09 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

Activists take part at a "Look Down action" rally to stop deep sea mining outside the European Parliament in Brussels on March 6, 2023. In a parliamentary vote on Tuesday, lawmakers in the northern European country are expected to approve the government's proposal to open Norwegian waters for commercial-scale deep-sea mining. Critics say deep-sea mining is "extremely destructive," while scientists warn the full environmental impacts are hard to predict. Ocean Rebellions protest The Deep Sea Says No Why the deep sea? (Photo by Charles M. Vella/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images

Persons: Kenzo TRIBOUILLARD, KENZO TRIBOUILLARD, Kenzo Tribouillard, What's, Luciana, Charles M Organizations: Getty, Afp, Environmental Justice Foundation, European Commission, SOUTH Locations: Brussels, AFP, Norway, Svalbard, ROTTERDAM, SOUTH HOLLAND, NETHERLANDS

COPENHAGEN, Denmark (AP) — Norway’s minority center-left government and two large opposition parties made a deal Tuesday to open the Arctic Ocean to seabed mineral exploration despite warnings by environmental groups that it would threaten the biodiversity of the vulnerable ecosystems in the area. Norway said in June it wanted to open parts of the Norwegian continental shelf for commercial deep sea mining in line with the country’s strategy to seek new economic opportunities and reduce its reliance on oil and gas. “This is a disaster for the sea,” said Frode Pleym, head of the local chapter of Greenpeace. According to the Norwegian Petroleum Directorate, there are sulphides and manganese crusts containing metals and minerals that are crucial for making batteries, wind turbines, PCs and mobile phones. The planned area is located southwest of the Arctic island of Svalbard.

Persons: —, ”, Frode Pleym, ” Martin Sveinssønn Melvær, –, Center Party –, NTB Organizations: Greenpeace, “, Norwegian Bellona, Labor, Center Party, Progress Party, Norwegian, Norwegian Petroleum Directorate, Ministry of Petroleum, Energy Locations: COPENHAGEN, Denmark, Norway, Norwegian, “ Norway, Hoeyre, Svalbard

☆ The White House unveils new rules to try and keep China out of the US EV market
▼ + stars: | 2023-12-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

It comes as the US aims to break China's stranglehold over the global electric battery supply chain. Key US automakers like Tesla and Ford are still using Chinese technology in their electric cars. AdvertisementChina is well and truly winning the EV race — and now the White House has unveiled new rules to try and keep Chinese companies out of the US electric car market. The new restrictions could be a headache for US auto manufacturers, which have traditionally relied on China for their battery technology . The American EV market, meanwhile, has stuttered in recent months , with legacy automakers slashing investment and cutting back targets.

Persons: —, Morgan Stanley, Elon Musk's Tesla Organizations: Ford, Service, White, American EV Locations: China, Russia, Iran, North Korea, Michigan

That law, supported by Biden and congressional Democrats, created tax credits to boost domestic EV manufacturing. "The point is that they're manufacturing jobs, whether they be baskets or batteries." A Trump spokesperson pointed Reuters to a recent policy announcement in which the former president said EV manufacturing would harm workers. Biden's campaign pointed Reuters to a statement from Kevin Munoz, a campaign spokesman, who said Trump's plan would mean more Chinese EV manufacturing jobs and fewer American jobs. Still, Ciscomani, who did not respond to comment requests, has generally welcomed individual EV projects, and toured a local EV plant in August.

Persons: Rebecca Cook, Donald Trump, Ron DeSantis, Joe Biden, Biden, Trump, Mike Morey, SKDK, Andrew Reagan, Kirsten Engel, EVs, Jesse Williams, Joe, Anna Kelly, DeSantis, Kevin Munoz, Munoz, Brian Kemp, Wendy Davis, Engel, Juan Ciscomani, Ciscomani, Gram Slattery, Nichola Groom, Jarrett Renshaw, Alistair Bell Organizations: General Motors, Bolt, Orion Assembly, REUTERS, Rights, Florida, Democratic, Republican, EV, Power, Reuters, Democrats, Energy, America, Environmental Defense Fund, Biden, RMI, Republican Party, Trump, United Auto Workers, UAW, Republican National Committee, United States, Climate Power, League of Conservation Voters, Thomson Locations: Lake Orion , Michigan, U.S, Georgia , Arizona , Nevada, Michigan, Wisconsin , Pennsylvania, North Carolina, Michigan , Georgia, Arizona, America, North America, Decatur County , Georgia, China, South, United, Georgia, Rome , Georgia, Washington, Los Angeles

☆ Mucus-Covered Jellyfish Hint at Dangers of Deep-Sea Mining
▼ + stars: | 2023-11-21 | by ( Kate Golembiewski | ) www.nytimes.com time to read: +1 min

Deep-sea mining companies have set their sights on these minerals, aiming to use them in batteries and electronics. Environmentalists warn that the mining process and the plumes of sediment it would dump back into the sea could affect marine life. A series of shipboard experiments on jellyfish in the Norwegian fjords, published Tuesday in the journal Nature Communications, offer insights into those warnings. The scientists approximated the effects of mining by pumping sediment into the jellies’ tanks, essentially asking how the animals would cope with the muddy water. The researchers selected helmet jellyfish as their research subjects because of the ubiquity and hardiness of the dinner-plate-size creatures.

Persons: ”, Helena Hauss Organizations: Nature Communications, Norwegian Research Center, Helmholtz, Ocean Research Locations: Norwegian, Ocean Research Kiel, Germany

DETROIT (AP) — Ford Motor Co. is resuming construction on a Michigan electric vehicle battery plant that the company postponed two months ago during a strike by the United Auto Workers union. But the automaker says that due to slowing electric vehicle sales growth, it will scale back the factory size, cutting the number of planned jobs by about one third from 2,500 to 1,700. Ford put the plant, originally to cost $3.5b, on hold in late September as the union went on strike at targeted assembly plants run by Ford, General Motors and Jeep maker Stellantis. Unlike the company's other battery plants that are joint ventures, the Marshall factory will be a fully owned Ford subsidiary staffed by Ford workers. But China’s Contemporary Amperex Technology Co. Ltd., or CATL, which is known for its lithium-iron-phosphate expertise, would supply technology, some equipment and workers.

Persons: —, Ford, Mark Truby, ”, Marshall Organizations: DETROIT, — Ford Motor Co, United Auto Workers, Ford, General Motors, EV, Amperex Technology, . Ltd Locations: Michigan, Marshall, Detroit

☆ The promise and risks of deep-sea mining
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +13 min

The promise and risks of deep-sea mining A vast treasure of critical minerals lies on the ocean floor. All of these factors make deep-sea mining more appealing, supporters say. Environmentalists, however, say it’s a false dichotomy, as land mining will continue whether or not deep-sea mining is allowed. Any country can allow deep-sea mining in its territorial waters, and Norway, Japan and the Cook Islands are close to allowing it. For now, the ISA's members are hotly debating the best standards for deep-sea mining.

Persons: Gerard Barron, Margo Deiye, “ We’re, ”, Barron, “, Beth Orcutt, Jason Gillham, Joe Carr, Pradeep Singh, Kira Mizell, Julia Wolfe, Katy Daigle, Claudia Parsons Organizations: International Energy Agency, P Global, Authority, United Nations, ISA, Metals Co, Russia's JSC, Blue Minerals, Exploration, Metals, Clarion, Companies, U.S . Geological Survey, Benchmark Mineral Intelligence, The Metals Co, Northwest, Maine's Bigelow Laboratory, Ocean Sciences, Impossible Metals, NOAA, Research, Aquarium Research, Bigelow Laboratory, Research Institute, Sustainability, . Geological Survey Locations: Brazil, Norway, Japan, Cook, Vancouver, Blue, Blue Minerals Jamaica, China, Hawaii, Mexico, Nauru, U.S, Russia, France, India, Poland, Tokyo, Monterey

"These investments are being made in areas with very high growth," Christel Bories, Eramet's chair and CEO, told Reuters. "Lithium is not tied to world economic growth, it's tied to the development of batteries and the energy transition." A $400 million deal with Glencore (GLEN.L) to market lithium from the project's first stage will mostly cover Eramet's financing needs for the next tranche, Bories said. In Chile, meanwhile, the group said it had acquired for an initial $95 million a 120,000-hectare lithium concession in the Atacama region. Reporting by Gus Trompiz, Editing by Charlotte Van Campenhout and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Ivan Alvarado, it's, Bories, Eramet's, Gus Trompiz, Charlotte Van Campenhout, Louise Heavens Organizations: National Reserve, REUTERS, Rights, Reuters, Centenario, BASF, Koniambo, SAS, Thomson Locations: Antofagasta region, Chile, Argentina, Indonesia, Centenario, Atacama, Gabon, China, New Caledonia, SLN

☆ EU Aims to Resolve U.S. Steel Dispute by Year End
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

BRUSSELS (Reuters) - The European Commission is aiming to reach an agreement on steel and aluminium with the United States by the end of the year to bring a definitive end to U.S. import tariffs on the metals, Commission Vice President Vera Jourova said on Thursday. U.S. and EU negotiators failed to reach an agreement at a summit on Oct. 20 on measures to address overcapacity in non-market economies, such as China, and promote greener steel. The Biden administration had suspended the tariffs on EU steel and aluminium imposed by former U.S. President Donald Trump in 2018 on condition that a deal was reached by the end of October. Many lawmakers expressed concern that the talks had dragged on without success, but Jourova said the two sides had made "important progress". Jourova said the EU wanted to get an agreement "over the finishing line", but gave no envisaged deadline.

Persons: Vera Jourova, Biden, Donald Trump, Jourova, Philip Blenkinsop, Bernadette Baum Organizations: European, EU, U.S, United Locations: BRUSSELS, United States, China

☆ Australia's South32's Q1 metallurgical coal output falls on Illawarra bottlenecks
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo Acquire Licensing RightsCompanies South32 Ltd FollowOct 23 (Reuters) - Diversified miner South32 (S32.AX) posted an 18% drop in first-quarter metallurgical coal output on Monday, as production was affected by disruptions at its Illawarra project in New South Wales. South32, the world's biggest producer of manganese, is facing operational headwinds at its Illawarra Metallurgical Coal project after the miner undertook an extended planned longwall move at the Dendrobium mine. The Perth-based miner said production of metallurgical coal, used to make steel, fell to 1.0 million metric tons in the three months to Sept. 30, from 1.3 million metric tons a year earlier. That was slightly lower than a consensus estimate of 1.1 million metric tons compiled by Visible Alpha.

Persons: South32, David Gray, John Biju, Roushni Nair, Lisa Shumaker Organizations: REUTERS, South32, Illawarra Metallurgical Coal, Alpha, Thomson Locations: Perth, Western Australia, New South Wales, Illawarra, Dendrobium, Bengaluru

[1/2] Graphite powder, used for battery paste, is pictured in a Volkswagen pilot line for battery cell production in Salzgitter, Germany, May 18, 2022. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsOct 20 (Reuters) - As China moved to control some exports of key battery mineral graphite on Friday, miners elsewhere face a race against time to bring new projects to fruition to secure supplies for the next generation of electric vehicles. To stay ahead in a fast-changing industry, carmakers have been investing directly in mining projects to ensure future supplies of the battery inputs. "We see China's move as a potential catalyst to highlight the urgency of improving domestic graphite supply," said John DeMaio, president of Graphex's graphene division. "We've aligned ourselves with several graphite miners outside of China.

Persons: Fabian Bimmer, Hugues Jacquemin, China's, John DeMaio, DeMaio, Stefan Bernstein, Graphite's Jacquemin, Shishir Poddar, Nelson Banya, Clara Denina, Divya Rajagopal, Ernest Scheyder, Veronica Brown, Elaine Hardcastle Organizations: Volkswagen, REUTERS, Graphex, HK, EV, GreenRoc, Thomson Locations: Salzgitter, Germany, China, Warren , Michigan, Greenland, Northern, Tirupati, Madagascar, Mozambique

Michel suggested no deal was imminent when he told reporters the two sides needed to find "mutually beneficial" solutions. U.S. Trade Representative Katherine Tai met with European Commission Executive Vice President Valdis Dombrovskis on Thursday, a third source told Reuters. Michel told reporters it was a critical time for the United States and the EU to "stick together" on their shared values and commitment to democracy given the Israel-Hamas conflict. It is still to be seen if this will end the U.S. tariffs threat or just see an extended suspension. Given the EU needs such materials itself for its green transition, the positive impact for the bloc may be limited.

Persons: Ursula von der Leyen, Joe Biden, Charles Michel, Michel, von der Leyen, Katherine Tai, Valdis Dombrovskis, Donald Trump, Bernd Lange, Philip Blenkinsop, Alexandra Hudson, Jonathan Oatis Organizations: WASHINGTON, European Union, Trump, Commission, U.S, European, . Trade, EU, Washington, World Trade Organization, United, Thomson Locations: BRUSSELS, United States, Israel, Gaza, Ukraine, Europe, North America, China, Brussels, U.S, Washington, Friday's

U.S. President Joe Biden will host Michel and European Commission chief Ursula von der Leyen on Friday to show unity toward Ukraine, but with trade irritants souring ties. U.S. Trade Representative Katherine Tai met with European Commission Executive Vice President Valdis Dombrovskis on Thursday, and the two countries' trade negotiators were meeting around the clock. Michel told reporters it was a critical time for the United States and the EU to "stick together" on shared values and commitment to democracy, especially given the escalating crisis in the Middle East, which threatens to overshadow the long-planned summit. It is still to be seen if this will end the U.S. tariffs threat or just see an extended suspension. Given the EU needs such materials itself for its green transition, the positive impact for the bloc may be limited.

Persons: Charles Michel, Joe Biden, Michel, Ursula von der Leyen, von der Leyen, Katherine Tai, Valdis Dombrovskis, Donald Trump, Bernd Lange, Philip Blenkinsop, Alexandra Hudson, Jonathan Oatis Organizations: European Union, EU, European Commission, Trump, . Trade, European, Washington, World Trade Organization, United, U.S, Thomson Locations: BRUSSELS, WASHINGTON, United States, Ukraine, China, Brussels, U.S, Washington, North America

☆ EU seeks to ease US tariff, green subsidy threats
▼ + stars: | 2023-10-16 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

Washington has asked Brussels to move against Chinese steel producers in particular in return for avoiding the re-imposition of Trump-era tariffs on EU steel and aluminium, with an end-October deadline to reach an agreement. Those subsidies, largely in the IRA, have irked EU countries because they contain local content requirements. Half of the tax break is reliant on extraction of processing of critical minerals taking place in a country with which the United States has a free trade agreement. The EU is hoping that the summit will also yield an agreement on critical minerals - cobalt, graphite, lithium, manganese and nickel - that would benefit EU suppliers. EU exports to the United States of these minerals or products principally containing them totalled 3.5 billion euros ($3.7 billion) in 2022, Eurostat data shows.

Persons: Joe Biden, Ursula von der Leyen, Charles Michel, Philip Blenkinsop, Lisa Shumaker Organizations: European Union, Trump, U.S, European Commission, European Council, Washington, WTO, Thomson Locations: BRUSSELS, Ukraine, Brussels, China, United States, U.S, North America, EU

☆ Kia Corp unveils three smaller-medium-sized EVs to speed its electrification ambitions
▼ + stars: | 2023-10-12 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

SEOUL, Oct 12 (Reuters) - Kia Corp (000270.KS) on Thursday unveiled three new small-to-medium sized electric vehicles (EV) to attract a wider range of customers in an effort to expedite its electrification strategies. The production of the EV5 will take place in both China and South Korea, Kia said, adding that the EV5 in China and South Korea would have different battery types. Kia did not disclose the detailed driving range of the EV5 for South Korea, adding that it will be tailored to meet market demands. Analysts said Kia's push to launch more affordable EVs is timely as an increasing number of car buyers are looking to purchase price friendly EVs. "While those early adopters have preferred more expensive premium electric vehicles, as EVs have become more popular among more general public, consumer needs for more affordable EVs have significantly grown," said Lee Jae-il, an analyst at Eugene Investment & Securities.

Persons: Kia, Song Ho Sung, ”, Spencer Cho, Lee Jae, Heekyong Yang, Sharon Singleton Organizations: Kia Corp, South, Kia, Global, Analysts, Eugene Investment, Securities, Thomson Locations: SEOUL, South Korea, China

☆ South Africa's Transnet says heavy rains disrupt service on key commodity line
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

A Transnet Freight Rail train is seen next to tons of coal mined from the nearby Khanye Colliery mine, at the Bronkhorstspruit station, in Bronkhorstspruit, South Africa, April 26, 2022.Picture taken April 26,2022. REUTERS/Siphiwe Sibeko/File Photo Acquire Licensing RightsSept 27 (Reuters) - South Africa's logistics utility Transnet on Wednesday said severe weather had disrupted rail services on its Cape Corridor, the main line for manganese exports and agricultural commodities. The severe weather also damaged infrastructure, including housing, power lines, roads and rail lines. "Extreme rainfall - resulting in wash-aways, rockslides and fallen trees along some sections of rail lines - causeddamage to locomotives and the rail infrastructure, resulting in challenging operational obstacles," Transnet said in a statement. Services had been halted on some sections of the rail network, while delays were being experienced on others, Transnet added.

Persons: Siphiwe, Transnet, Nelson Banya, Louise Heavens Organizations: REUTERS, Services, Thomson Locations: Bronkhorstspruit, South Africa, Cape, Eastern Cape

☆ Prices tumble for cobalt used for electric vehicle batteries
▼ + stars: | 2023-09-25 | by ( Pratima Desai | ) www.reuters.com time to read: +2 min

REUTERS/Vincent West Acquire Licensing RightsLONDON, Sept 25 (Reuters) - Prices of the cobalt hydroxide used to make chemicals for electric vehicle batteries have plummeted due to an upsurge of supplies from top producer Democratic Republic of Congo. Cobalt hydroxide is produced in Congo, where it is a byproduct of copper. According to Benchmark Mineral Intelligence (BMI), payables in August dropped to 46% of the cobalt metal price compared with around 90% in late 2021 and early 2022 when cobalt metal traded around $60,000 a metric ton. "These developments pose long-term challenges to cobalt demand," analysts at Morgan Stanley said in a note. "We see cobalt prices remaining under pressure as supply growth and CMOC destocking come through."

Persons: Vincent West, Roman Aubry, Tenke, Morgan Stanley, destocking, Pratima Desai, Bernadette Baum Organizations: REUTERS, Democratic, Benchmark Mineral Intelligence, BMI, China's CMOC, Thomson Locations: Bilbao, Spain, Democratic Republic of Congo, Congo, payables, Indonesia, DRC

DETROIT (AP) — Ford Motor Co. said Monday that it's pausing construction of a $3.5 billion electric vehicle battery plant in Michigan until it is confident it can run the factory competitively. The move comes as the company is in the midst of national contract talks with the United Auto Workers union, which wants to represent workers at battery factories and win them top wages. In February, Ford announced plans to build the plant in Marshall, Michigan, employing about 2,500 workers to make lower-cost batteries for a variety of new and existing vehicles. But Ford spokesman TR Reid confirmed Monday that plant construction has been paused and spending has been limited on it. Earlier this year Virginia dropped out of the race for the same Ford plant after Republican Gov.

Persons: —, Ford, Marshall, TR Reid, ”, Shawn Fain, Sarah Lightner, Ford “, “, ” Lightner, Sam Abuelsamid, Abuelsamid, Biden, Glenn Youngkin, Joey Cappelletti, David Koenig Organizations: DETROIT, — Ford Motor, United Auto Workers union, UAW, Ford, Detroit, General Motors, EV, Amperex Technology, . Ltd, Republican State Rep, Guidehouse, Republican Gov, Chinese Communist Party, ____ Associated Press Locations: Michigan, Marshall , Michigan, Detroit, Marshall, China, U.S, Virginia, Lansing , Michigan, Dallas

☆ LG Chem partners with Huayou Group to build joint LFP cathode plant in Morocco
▼ + stars: | 2023-09-24 | by ( Heekyong Yang | ) www.reuters.com time to read: +3 min

The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSummaryCompanies LG Chem to build joint LFP cathode plant in Morocco with China's YoushanCompany to enter LFP cathode business for the first timeCompany partners with Huayou Group to build 4 facilities in Morocco and IndonesiaSEOUL, Sept 24 (Reuters) - South Korea's LG Chem Ltd (051910.KS) said on Sunday it has entered into partnership with China's Huayou Group's subsidiary Youshan to build a joint electric vehicle (EV) battery material plant in Morocco in an effort to diversify its portfolio. LG Chem said LFP cathodes produced at the Morocco plant will be supplied to the North American market and receive subsidies from the U.S. Inflation Reduction Act (IRA) as Morocco is a free-trade partner with the United States. LG Chem and Youshan would need to adjust their respective equity share in compliance with the U.S. Treasury Department's guideline of a "foreign entity of concern," a provision aimed at China, LG Chem said in the statement. The size of LG Chem's investments for its four facilities with Huayou Group has not been finalised yet.

Persons: Kim Hong, China's, LG Chem, LFP cathodes, Heekyong Yang, Shri Navaratnam Organizations: LG Chem, REUTERS, China's Youshan Company, Huayou Group, LG Chem Ltd, LG, North, U.S, U.S . Treasury, U.S . Treasury Department, Huayou, Thomson Locations: Seoul, South Korea, Morocco, Indonesia SEOUL, KS, United States, Korea, China, U.S, Indonesia

☆ Deep-sea mining could help solve the global critical minerals shortage, but it's a lightning rod for controversy
▼ + stars: | 2023-09-20 | by ( Katie Brigham | ) www.cnbc.com time to read: +6 min

But extracting these metals via deep-sea mining has become a lightning rod for global controversy, as many fear the potential ecological disruptions it could cause in a part of our planet that remains largely unexplored. The Metals Company has announced that it's planning to submit its application next summer and begin exploitation in 2025, leaving many concerned about the potential implications. "What I am absolutely convinced of is that we can slow down or maybe even stop the growth in rainforest nickel," Barron said. Deep-sea mining avoids the emissions associated with blasting, as well as sulfidic tailings, a waste material that can contaminate groundwater. Great unknownsA few years ago, the World Wildlife Fund released a business statement calling for a moratorium on deep-sea mining.

Persons: Jessica Battle, Gerard Barron, we're, Barron, Andrew Miller Organizations: Clarion, United Nations, International, Authority, ISA, Metals Company, Mining, The Metals Company, Benchmark Mineral Intelligence, Metals, World Wildlife, Google, Samsung, BMW, Volkswagen, Volvo, Renault, WWF, CCZ, National Oceanic, Atmospheric Administration Locations: Indonesia, Congolese, U.S, Texas

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