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☆ As the hype around 'solid-state' EV batteries grows, UBS reveals the global stocks to cash in
▼ + stars: | 2023-11-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

UBS has identified the stocks set to benefit from the growth of next-generation "solid-state" battery electric vehicles. Solid-state batteries are viewed as a potential breakthrough technology because they can store more energy than lithium-ion batteries and charge faster. Toyota's targets for solid-state batteries are about double the capacity of the longest-range Tesla vehicles. The automaker's planned transition to solid-state batteries for its EVs by the late 2020s makes the company's stock an attractive investment, according to the investment bank. The table below shows some of the global stocks best positioned to capitalize on the shift to solid-state batteries, according to UBS: UBS named Toyota Industries , which has already partnered with Toyota Motor on developing lithium-ion batteries, as another stock that could benefit from the shift to solid-state batteries.

Persons: Kohei Takahashi, Morgan Stanley, — CNBC's Michael Bloom Organizations: UBS, Toyota, Nissan, Honda, Toyota Industries, Toyota Motor, Mitsui Mining & Smelting, Sumitomo Metal Mining

☆ Vale Canada, Sumitomo Metal sign initial agreement to sell 14% stake in Indonesia nickel miner
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Ritsuko Shimizu/File Photo Acquire Licensing RightsJAKARTA, Nov 18 (Reuters) - Vale Base Metals said its Vale Canada unit and Japan's Sumitomo Metal Mining signed an initial agreement on Friday to sell a 14% stake in their Indonesian nickel mining unit to Indonesia's state miner. Share divestment is a condition required by Indonesia to extend Vale Indonesia's mining permit, which will otherwise end in 2025. Upon completion, MIND ID will become the largest shareholder of Vale Indonesia with its stake rising to 34% from 20%. Vale Canada will hold 33.9%, down from 43.79%, and Sumitomo 11.5%, down from 15.03%, according to the statement. "The divestment will make MIND ID as the biggest shareholder of Vale (Indonesia), so MIND ID and Vale Canada can exercise a joint control over Vale (Indonesia)," he said in a statement on Friday.

Persons: Ritsuko Shimizu, Wirjoatmodjo, Deshnee Naidoo, Joko Widodo, Widodo, Fransiska Nangoy, Stefanno Sulaiman, Kirsten Donovan, William Mallard Organizations: Sumitomo Metal Mining, REUTERS, Rights, Base Metals, Vale Canada, Vale, Sumitomo, Mineral Industri, Vale Base Metals, Reuters, Thomson Locations: Tokyo, Japan, Rights JAKARTA, Vale Canada, Mineral Industri Indonesia, Indonesia, Vale Indonesia, Indonesian, Vale

☆ Vale Canada, Sumitomo Metal sign initial deal to sell 14% stake in Indonesian nickel miner
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ritsuko Shimizu/File Photo Acquire Licensing RightsJAKARTA, Nov 17 (Reuters) - Mining company Vale Base Metals said its unit Vale Canada Ltd and Japan's Sumitomo Metal Mining Co. Ltd signed an initial agreement on Friday to sell a 14% stake in their Indonesian nickel mining unit to Indonesia's state miner. Share divestment is a condition required by Indonesia to extend Vale Indonesia's mining permit, which is currently due to end in 2025. Upon completion, MIND ID will become the largest shareholder of Vale Indonesia with 34% of shares, up from 20%. Around 20% of Vale Indonesia's shares are publicly traded. Vale Base Metals is committing around $10 billion of investment in Indonesia over the next decade.

Persons: Ritsuko Shimizu, Deshnee Naidoo, Fransiska Nangoy, Kirsten Donovan Organizations: Sumitomo Metal Mining, REUTERS, Rights, Base Metals, Vale Canada, Japan's Sumitomo Metal Mining Co . Ltd, Vale, Sumitomo, Mineral Industri, Vale Base Metals, Thomson Locations: Tokyo, Japan, Rights JAKARTA, Vale Canada, Mineral Industri Indonesia, Indonesia, Vale Indonesia, Indonesian

The logo of Sumitomo Metal Mining Co is pictured at the company's headquarters in Tokyo, Japan, September 13, 2018. REUTERS/Ritsuko Shimizu/File Photo Acquire Licensing RightsTOKYO, Nov 16 (Reuters) - Japan's Sumitomo Metal Mining (5713.T) is considering producing cathode battery materials in the United States among other options as it looks to expand output to meet demand from electric vehicles, an executive said on Thursday. Sumitomo Metal plans to bolster its annual output capacity to 120,000 tons by March 2028 and 180,000 tons by March 2031. The consortium consists of Sumitomo Metal, Mitsubishi (8058.T) and Mitsui (8031.T). Sumitomo Metal is targeting to boost annual nickel output capacity to 150,000 tons in a long-term from 82,000 tons now.

Persons: Ritsuko Shimizu, Katsuya Tanaka, ARL.AX, Masaru Takebayashi, Yuka Obayashi, David Evans Organizations: Sumitomo Metal Mining, REUTERS, Rights, Sumitomo Metal, Panasonic, U.S, Kalgoorlie Nickel, Mitsubishi, Mitsui, Thomson Locations: Tokyo, Japan, United States, Niihama, Pomalaa, Kalgoorlie, Western Australia

Used copper wires are seen in a recycling company in Thoerishaus near Bern July 3, 2011. Copper producers increasingly want to share the risk and costs of projects, and the sector has already seen a jump in M&A activity, which more than doubled year-on-year to $14.24 billion in 2022. Miner and trader Glencore (GLEN.L) has been approached by potential investors in its Argentine copper projects Minera Agua Rica Alumbrera (Mara) and El Pachon, two sources said. According to Argentine government data, the projects could produce a combined 435,000 tonnes of copper a year. Both sources declined to be named because the information is not public.

Persons: Ruben Sprich, Glencore, Mara, El, Canada's Lundin, Jack Lundin, Lundin, Hudbay, EY, Paul Mitchell, Farid Dadashev, Clara Denina, Divya Rajagopal, Julian Luk, Veronica Brown, Jan Harvey Organizations: REUTERS, Sumitomo Metal Mining, Sumitomo, Reuters, BHP Group, BHP, Santo Domingo, Hudbay, Capstone, Taca Taca, Global Mining, Metals, RBC Capital Markets, Thomson Locations: Thoerishaus, Bern, Miner, Agua Rica, Argentine, Josemaria, Chile, Santo, Arizona, Rio Tinto's, Peru, Argentina

☆ Sumitomo Metal to invest in Canada's Nano One to collaborate on battery material
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Sept 25 (Reuters) - Japan's Sumitomo Metal Mining (5713.T) said on Monday it will invest 16.9 million Canadian dollars ($12.5 million) in Canada's battery material company Nano One Materials (NANO.TO) to collaborate on manufacturing technology for the material. The move comes after Japan and Canada agreed to work more closely together to establishing sustainable and reliable global battery supply chains. Sumitomo Metal supplies the nickel-cobalt-aluminium (NCA) cathode materials for the Panasonic (6752.T) lithium-ion batteries used in Tesla (TSLA.O) electric vehicles (EVs). The two companies will work together to develop manufacturing technology for battery cathode materials for EVs at a lower cost and environmental impact, it added. Sumitomo Metal has been expanding its production capacity of the cathode materials and plans further expansions.

Persons: Yuka Obayashi, Louise Heavens Organizations: Sumitomo Metal Mining, Sumitomo Metal, Panasonic, Thomson Locations: TOKYO, Japan, Canada

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