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☆ Sigma Lithium to explore alternatives after proposals for miner, Brazil unit
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

Workers of Sigma Lithium Corp are seen at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. REUTERS/Washington Alves/File Photo Acquire Licensing RightsSept 13 (Reuters) - Miner Sigma Lithium (SGML.V), said on Wednesday it is evaluating strategic alternatives for the whole company, including its Brazilian unit, sending the company's U.S.-listed shares up 14.8% in premarket trading. The company said it has received multiple proposals for its Grota do Cirilo project in Brazil, Sigma Brazil and parent company Sigma Lithium. The proposals were from "global industry leaders in the energy, auto, batteries and lithium refining industries", according to Sigma Lithium. Sigma Lithium CEO Ana Cabral-Gardner said in July that Bank of America was coordinating talks with parties interested in acquiring it.

Persons: Washington Alves, Calvyn Gardner, Ana Cabral, Gardner, Sourasis Bose, Shounak Dasgupta Organizations: Sigma Lithium Corp, REUTERS, Sigma, Sigma Lithium, of America, LG Energy, Thomson Locations: Itinga, Minas Gerais, Brazil, U.S, Sigma Brazil, Vancouver , British Columbia, Bengaluru

☆ Chevron buys world's biggest hydrogen storage plant in Utah
▼ + stars: | 2023-09-12 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +2 min

HOUSTON, Sept 12 (Reuters) - U.S. oil major Chevron Corp (CVX.N) on Tuesday said it has acquired a majority stake in the world's largest proposed storage facility for hydrogen from renewable energy. U.S. majors Chevron and Exxon Mobil (XOM.N) are rushing to lower production costs and bring scale to the technology as part of their lower carbon fuel strategy. Chevron wants to develop "a large-scale, hydrogen platform that provides affordable, reliable, ever-cleaner energy,” said Austin Knight, vice president of hydrogen, Chevron New Energies. Hydrogen can also be used to store energy and used to adjust seasonal supply and demand needs in power grids. It is spending an average of $1.25 billion per year through 2028 to reduce its own emissions and expand lower carbon fuels including hydrogen.

Persons: ”, Austin Knight, Sabrina Valle, Sourasis Bose, Pooja Desai, Sharon Singleton Organizations: Chevron Corp, Chevron, Exxon Mobil, ACES, Haddington Ventures, U.S . Department of Energy, Mitsubishi Power Americas, Magnum, International Energy, Hydrogen, Thomson Locations: ACES Delta, Haddington, Delta, Utah, Chevron, Houston, Bengaluru

☆ US health officials look to move marijuana to lower-risk drug category
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Tom Brenner/Pool/File Photo Acquire Licensing RightsAug 30 (Reuters) - The U.S. Department of Health and Human Services (HHS) has recommended easing restrictions on marijuana, a department spokesperson said on Wednesday, following a review request from the Biden Administration last year. Nearly 40 U.S. states have legalized marijuana use in some form, but it remains completely illegal in some states and at the federal level. The scheduling recommendation for marijuana was provided to the Drug Enforcement Agency (DEA) on Tuesday as part of President Biden's directive to HHS, the spokesperson said. "As part of this process, HHS conducted a scientific and medical evaluation for consideration by DEA. DEA will now initiate its review," a DEA spokesperson said.

Persons: Rachel Levine, Tom Brenner, Biden, Biden's, Karine Jean, Pierre said, Cannabis, George Archos, Sourasis Bose, Mrinalika Roy, Shilpi Majumdar, Shounak Dasgupta, Shailesh Organizations: Department of Health, Human Services, Health, Education, Labor, Capitol, REUTERS, U.S . Department of Health, Drug Enforcement Agency, HHS, DEA, Marijuana, Department of Justice, House Press, Tilray Brands, Cronos, Verano Holdings, Thomson Locations: Washington , U.S, U.S, United States, Canada, North America, Bengaluru

☆ DuPont to sell majority stake in $1.8 billion Delrin resins unit
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsAug 21(Reuters) - Industrial materials maker DuPont De Nemours (DD.N) said on Monday it has agreed to sell an 80.1% stake in its Delrin resins unit to private equity firm TJC, formerly known as The Jordan Company, in a deal that values the business at about $1.8 billion. It will also own a 19.9% non-controlling interest in the unit, which the company had been looking to divest since February last year. The company sold most of its mobility and materials business to Celanese (CE.N) for $11 billion last year. However, it also suffered a setback last year as Chinese regulatory hurdles forced it to scrap the $5.2 billion acquisition of engineering materials maker Rogers (ROG.N). Earlier this year, peers Univar Solutions(UNVR.MX) and Chase Corp(CCF.A) had been taken private by Apollo Global Management and KKR, respectively.

Persons: Denis Balibouse, DuPont De, Ed Breen, Rogers, Sourasis Bose, Pooja Desai Organizations: REUTERS, DuPont, DuPont De Nemours, Jordan Company, ED, Chase Corp, Apollo Global Management, KKR, Thomson Locations: Dupont, Geneva, Switzerland, Celanese, Bengaluru

☆ DuPont to sell majority stake in Delrin resins unit for about $1.6 bln
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsAug 21(Reuters) - Chemical maker DuPont De Nemours (DD.N) said on Monday it has agreed to sell 80.1% of its Delrin resins unit to private equity firm TJC, formerly known as The Jordan Company, for about $1.6 billion. It will also own a 19.9% non-controlling interest in the unit, which the company had been looking to divest since February last year. It sold most of its mobility and materials business to Celanese (CE.N) for $11 billion last year. However, it also suffered a setback last year as Chinese regulatory hurdles forced it to scrap the $5.2 billion acquisition of engineering materials maker Rogers (ROG.N).

Persons: Denis Balibouse, DuPont De, Rogers, Sourasis Bose, Pooja Desai Organizations: REUTERS, DuPont, DuPont De Nemours, Jordan, ED, Thomson Locations: Dupont, Geneva, Switzerland, Celanese, Bengaluru

☆ Allegiant extends contract agreement with maintenance staff union by 2 years
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

An Allegiant Air MD-83 passenger jet takes off from the Monterey airport in Monterey, California, February 26, 2012. REUTERS/Michael Fiala/file photo Acquire Licensing RightsAug 17 (Reuters) - Allegiant Travel (ALGT.O) said on Thursday it has ratified a two-year extension of a contract agreement with Teamsters union representing some of its workers. Allegiant Air carrier parent said the agreement provides for significant increases in compensation rates and extends the contract by two years till Oct. 31, 2028 for 683 workers. The employee group includes line and heavy maintenance technicians as well as stores employees and some administrative maintenance staff, the company said. Earlier this week, Southwest Airlines (LUV.N) reached a tentative labor agreement with the union that represents about 17,120 transport workers who handle ramp, operations, provisioning and cargo.

Persons: Michael Fiala, Sourasis Bose, Shinjini Organizations: REUTERS, Teamsters, Allegiant Air, Southwest Airlines, Thomson Locations: Monterey, Monterey , California, Bengaluru

☆ Tesla warns Core Lithium of potential lawsuit over failed deal
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 17 (Reuters) - Core Lithium (CXO.AX) has received a notice from electric-vehicle maker Tesla (TSLA.O) over a 2022 supply agreement that failed to materialize within the set deadline, the Australian miner said. The two companies failed to reach a deal by Oct. 26, 2022, as decided earlier, and now Tesla would take "all available legal remedies" unless the parties mutually resolve the matter, Core lithium said in a presentation on Wednesday. Tesla and Core Lithium did not respond to Reuters' requests for comments. The lithium producer was negotiating with Tesla to supply 110,000 tonnes of spodumene from its Finniss project in Australia's Northern Territory.

Persons: Arnd, Tesla, Elon, Sourasis Bose, Shinjini Organizations: REUTERS, Tesla, General Motors, Ford, Australia's Liontown, Thomson Locations: Bern, Switzerland, Northern Territory, Bengaluru

The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. The DAC technology is in early stages of commercialization and will require multibillion-dollar investments to prove it can work economically and generate profits. President Joe Biden's administration views DAC technology as a tool to help meet a goal of neutralizing emissions by 2050, if it can be commercialized and applied at industrial scale. While carbon capture is applied to emissions produced at industrial facilities, DAC actively removes CO2 from the air. Some of that money will fund Occidental's 30 proposed DAC plants in Kleberg Country, Texas.

Persons: Brendan McDermid, " Roth, Joe Biden's, Vicki Hollub, Sourasis Bose, Shilpi Majumdar, David Gregorio Our Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Carbon Engineering Ltd, Occidental, Low Carbon Ventures, U.S . Department of Energy, Congress, Carbon Engineering, Thomson Locations: New York, U.S, Texas, Louisiana, Country , Texas, Occidental, Bengaluru

☆ Canopy Growth posts smaller Q1 core loss, reiterates going concern doubts
▼ + stars: | 2023-08-09 | by ( Sourasis Bose | ) www.reuters.com time to read: +2 min

A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 . REUTERS/Chris Wattie/File PhotoAug 9 (Reuters) - Canopy Growth (WEED.TO) again raised doubts about its ability to stay afloat as the Canadian pot producer's loss-making streak continued in the first quarter. Canopy had first raised the going concern doubts in June. The company is also facing an investigation from the U.S. Securities and Exchange Commission over the reporting of revenue from BioSteel. The company's adjusted core loss narrowed to C$57.8 million for the three months ended June 30, compared with a loss of C$79 million a year earlier, aided by cost reduction.

Persons: Chris Wattie, Judy Hong, Sourasis Bose, Shinjini Ganguli, Shilpi Majumdar Organizations: REUTERS, U.S . Securities, Exchange Commission, Thomson Locations: Smiths Falls , Ontario, Canada, , Ontario, BioSteel, Verona , Virginia, Bengaluru

Miniatures of solar panel and electric pole are seen in front of SolarEdge logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/IllustrationCompanies Solaredge Technologies Inc FollowAug 1 (Reuters) - SolarEdge Technologies (SEDG.O) forecast third-quarter revenue below Wall Street estimates as demand slows for its solar inverters in the United States and Europe, sending its shares nearly 13% lower in extended trading on Tuesday. The U.S. solar market has been dented by low electricity prices, high borrowing costs and a new metering reform in California, the country's largest solar market. SolarEdge expects third-quarter revenue to average between $880 million and $920 million, compared with analysts' estimates of $1.05 billion, according to Refinitiv data. U.S. solar revenue, however, decreased 23% compared with the last quarter.

Persons: Dado Ruvic, SolarEdge, Johnson Gordon, Zvi Lando, Lando, Mrinalika Roy, Sourasis Bose, Devika Organizations: REUTERS, Technologies, SolarEdge Technologies, Wall, Thomson Locations: United States, Europe, U.S, California, Herzliya, Israel, Germany, Bengaluru

☆ Exxon Mobil in talks with Tesla, Ford to supply lithium - Bloomberg Law
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

July 31 (Reuters) - Oil major Exxon Mobil (XOM.N) is in talks with Tesla (TSLA.O), Ford Motor (F.N), Volkswagen (VOWG_p.DE) and other automakers to supply lithium, Bloomberg Law reported on Monday citing people familiar with the matter. The talks are in early stages and also include the likes of Samsung (005930.KS) and SK On Co, the report added. Tesla, Ford, Volkswagen did not respond to Reuters requests for comment, while Exxon declined to comment. Its rapid expansion into the lithium sector comes amid growing interest from traditional energy companies and others into emerging technologies that aim to boost global supply of the ultralight metal. Reporting by Sourasis Bose in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Sourasis Bose, Krishna Chandra Organizations: Oil, Exxon Mobil, Ford Motor, Volkswagen, Bloomberg, Samsung, SK, Co, Ford, Exxon, Tetra Technologies Inc, Thomson Locations: Arkansas, Bengaluru

☆ Dow flags dismal second-half, Q2 profit tumbles
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

July 25 (Reuters) - Dow (DOW.N) on Tuesday posted a 70% drop in second-quarter profit on lower product prices and weak sales volumes, while warning that the macroeconomic environment would remain challenging in the second half of the year after. Dow said it was expecting third-quarter net sales in the range of $10.25 billion to $10.75 billion, lower than Wall Street's expectations of $12.37 billion in net sales. Dow's net sales during the quarter fell to $11.4 billion from $15.7 billion, hinting at weak demand for its products that are used in everything from plastics and paints to building materials. Dow posted operating income of 75 cents per share, beating estimates by 5 cents, according to Refinitiv data, aided by its cost-saving efforts. Reporting by Sourasis Bose in Bengaluru; Editing by Savio D'Souza and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dow, Sourasis Bose, Savio D'Souza, Anil D'Silva Organizations: Dow, Thomson Locations: United States, Europe, China, Bengaluru

☆ Halliburton, Baker Hughes beats on profit as international demand offsets weak N.America
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] The company logo of Halliburton oilfield services corporate offices is seen in Houston, Texas April 6, 2012. REUTERS/Richard Carson/File PhotoJuly 19 (Reuters) - Halliburton Co (HAL.N) and Baker Hughes (BKR.O) beat analysts' estimates for second-quarter profit on Wednesday on the back of strong demand for oilfield services internationally, even as domestic activity stumbled. Halliburton shares were down 2.1% in premarket trading at $37.30, while Baker Hughes' shares were down 3.5% at $33.98 as markets zoomed in on the first signs of weakness in North America. Halliburton, which gets nearly half its revenue from North America, said revenue from the region fell 2% to $2.7 billion, while that from international operations climbed 7% to $3.1 billion from first-quarter. Halliburton beat analysts' estimate by 2 cents at 77 cents per share for the three months ended June 30, while Baker Hughes topped estimates by 6 cents per share at 39 cents, according to Refinitiv data.

Persons: Richard Carson, Baker Hughes, Lorenzo Simonelli, Halliburton, Arathy Somasekhar, Arunima Kumar, Sourasis Bose, Sriraj Kalluvila Organizations: Halliburton, REUTERS, Thomson Locations: Houston , Texas, America, Ukraine, North America, Europe, Asia, Houston, Bengaluru

☆ Canopy Growth signs agreements to reduce debt amid liquidity crisis
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

July 14 (Reuters) - Pot producer Canopy Growth (WEED.TO) has signed agreements with lenders to reduce its debt by C$437 million ($333.36 million) over the next six months, weeks after the Canadian firm raised doubts about its ability to continue as a going concern. The agreements with secured and unsecured lenders would also lower its interest expenses by C$20 million to C$30 million, the company said on Friday. The deals include redemption agreements with certain holders of its unsecured senior notes and agreements with certain of its lenders under its credit facility. Once a multi-billion company, Canopy has seen its fortunes dwindling over the years, as the Canadian cannabis industry remains challenged by systemic regulatory issues and the illicit marijuana market. ($1 = 1.3109 Canadian dollars)Reporting by Sourasis Bose in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Sourasis Bose, Shilpi Majumdar Organizations: Nasdaq, Thomson Locations: U.S, Bengaluru

☆ Canopy Growth sells California facility amid liquidity worries
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Pot producer Canopy Growth (WEED.TO) said on Thursday it has completed the sale of its facility in Modesto, California as a part of its divestitures to raise funding amid liquidity concerns. The sale of the facility was the fifth such deal since April 1 and has generated C$81 million ($61.10 million), the company said. "The proceeds from this transaction further the achievement of our target of C$150 million in total proceeds from facility divestitures by the end of September 2023," said CEO David Klein in a statement. Brokerage Benchmark slashed its price target on Canopy to zero earlier this week. ($1 = 1.3258 Canadian dollars)Reporting by Sourasis Bose in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: David Klein, Sourasis Bose, Krishna Chandra Organizations: Thomson Locations: Modesto , California, Bengaluru

☆ Pot producer Canopy raises going concern doubts, shares tumble
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

June 23 (Reuters) - Shares of Canada's Canopy Growth (WEED.TO) fell 6.5% on Friday after the pot producer posted a wider quarterly loss over the previous year and raised doubts about the company's ability to continue as a going concern. Canopy said it identified certain trends in the booking of sales for BioSteel, leading it to launch an internal review. As a result of the review, Canopy said it has let go of several members of BioSteel's leadership team. Sarwat added that Canopy was still burning through cash and including going concern risk in the filing makes Canopy USA's rationale unclear, as cash won't flow back to the U.S. unit without federal legalization. Canopy is eyeing an entry into the U.S. cannabis market through Canopy USA.

Persons: David Klein, Klein, Bernstein, Nadine Sarwat, Sarwat, Sourasis Bose, Pooja Desai Organizations: Reuters Graphics, U.S, Canopy USA, Thomson Locations: Canada, Bengaluru

☆ First Quantum shuns Barrick Gold's informal takeover offer, Bloomberg reports
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

June 15 (Reuters) - Canadian miner First Quantum Minerals (FM.TO) has rejected an informal takeover offer from Barrick Gold (ABX.TO), Bloomberg News reported on Thursday, citing people familiar with the matter. Shares of copper miner First Quantum rose 12% following the news, while Barrick fell 2.7%. First Quantum did not immediately respond to a Reuters request for comment, while Barrick said the company does not comment on market speculation. Barrick Gold CEO Mark Bristow's had expressed his interest in copper giant Freeport-McMoran (FCX.N) in 2020, but a deal between the companies did not pan out. Reporting by Sourasis Bose in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Barrick, Mark Bristow's, Sourasis Bose, Devika Organizations: Minerals, Barrick Gold, Bloomberg, Barrick, Newmont Corp, Thomson Locations: Freeport, McMoran, Bengaluru

☆ Chemical makers settle PFAS-related claims for $1.19 bln
▼ + stars: | 2023-06-02 | by ( Clark Mindock | ) www.reuters.com time to read: +2 min

The companies, which deny the allegations, said that they expect to finalize a formal agreement by the second quarter of 2023. Chemours said it would contribute half the agreed amount, while the remainder would be provided by DuPont and Corteva. A first trial testing those claims against 3M Co. is scheduled to begin next week. Chemours, DuPont and Corteva were originally included as defendants in that trial, but Gergel removed them from the proceedings last month. The companies also face claims in other courts raised by individuals and by state attorneys general in California, Maryland, Washington and elsewhere.

Persons: Chemours, Richard Gergel, Gergel, Sourasis Bose, Clark Mindock, Shounak Dasgupta, Vinay Dwivedi, Alexia Garamfalvi, Sharon Singleton Organizations: DuPont de Nemours Inc, Corteva Inc, DuPont, Corteva, 3M, U.S, District, Thomson Locations: U.S, South, California , Maryland, Washington, Bengaluru, New York

☆ Chevron shareholders reject proposals on climate at annual general meeting
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: 1 min

HOUSTON, May 31 (Reuters) - Oil major Chevron Corp's (CVX.N) shareholders overwhelmingly voted against proposals on climate, including emissions. About 90.4% of preliminary votes cast were against a proposal to set a medium-term scope 3 greenhouse gas emissions reduction target. Shareholder voted in favor of reelecting all directors to the board at the annual general meeting. Reporting by Arathy Somasekhar in Houston and Sourasis Bose in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Arathy Somasekhar, Sourasis Bose Organizations: HOUSTON, Chevron, Thomson Locations: Houston, Bengaluru

☆ Factbox: U.S. states where recreational marijuana is legal
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: 1 min

May 31 (Reuters) - Minnesota became the latest U.S. state to legalize marijuana for recreational use on Tuesday after its governor, Tim Walz, signed a law allowing the state's residents over the age of 21 to legally possess cannabis for consumption. Apart from the 23 states, adult-use cannabis is also legal in the District of Columbia, Guam and the Northern Mariana Islands. Below is the list of U.S. states that have legalized recreational marijuana:** TD Cowen estimates from April 19Reporting by Sourasis Bose in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tim Walz, Cowen, Sourasis Bose, Anil D'Silva Organizations: District of, Thomson Locations: Minnesota, District, District of Columbia, Guam, Northern Mariana Islands, Bengaluru

☆ Exxon, Chevron shareholders soundly reject climate-related petitions
▼ + stars: | 2023-05-31 | by ( Sabrina Valle | ) www.reuters.com time to read: +3 min

HOUSTON, May 31 (Reuters) - Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) shareholders on Wednesday overwhelmingly rejected calls for stronger measures to mitigate climate change, dismissing more than a dozen climate-related proposals at their annual meetings. His group, which represents some 9,500 shareholders in oil and gas companies, had requested Exxon set medium-term targets for meeting customer emissions reduction goals that seeks to keep global temperature increase below 1.5° Celsius. That resolution received less than half of the support 11% of vote cast compared with 27% from the group's emission reduction proposal last year. Exxon holders rejected all 12 shareholder proposals, the majority of which dealt with climate-related issues. Chevron investors also rejected proposals on customers' emissions reduction target, creating a board committee on decarbonization risk, and a report on worker and community impact from facility closures and energy transitions.

Persons: Mark van Baal, Darren Woods, Woods, Sabrina Valle, Arathy, Mrinalika Roy, Sourasis Bose, Jon Boyle, Marguerita Choy Organizations: HOUSTON, Exxon Mobil Corp, Chevron Corp, Shell PLC, BP PLC, Exxon, Chevron, Thomson Locations: Ukraine, Guyana, Houston, Bengaluru

☆ Nutrien misses quarterly profit estimates
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: 1 min

May 10 (Reuters) - Fertilizer maker Nutrien Ltd (NTR.TO) on Wednesday reported a lower-than-expected profit in the first quarter due to a fall in sales as farmers delayed purchases due to high prices. Fertilizer prices have dipped from record highs last year, but that has failed to boost demand from farmers who are expecting prices to settle even lower. The company also lowered its full-year adjusted earnings forecast between $5.50 per share and $7.50 per share, compared with its previous outlook of $8.45 per share to $10.65 per share. On an adjusted basis, the potash producer earned $1.11 per share in the three months ended March 31, compared with estimates of $1.47, according to Refinitiv data. Reporting by Sourasis Bose in Bengaluru; Editing by Shinjini Ganguli and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

May 9 (Reuters) - U.S. oil and gas producer Occidental Petroleum Corp (OXY.N) on Tuesday reported a 48% decline in first-quarter earnings that fell well short of analyst estimates as global economic growth concerns led to a decline in oil prices. Occidental's crude oil sold for 19% less than the year-ago quarter, averaging $74.22 per barrel. Earnings declined despite a boost in first quarter oil and gas daily output to 1.22 million barrels from 1.08 million a year earlier, helped by higher production from its Permian operations. Adjusted earnings of $1.09 per share for the quarter fell far short of analysts' $1.24 per share estimate compiled by Refinitiv. Occidental increased its year-end production guidance by 20,000 barrels of oil and gas to 1.22 million barrels per day.

TORONTO, May 9 (Reuters) - Pierre Lassonde, a Canadian mining industry veteran, has made an offer to invest in Teck Resources Ltd's (TECKb.TO) coal business, in a bid to thwart Glencore Plc's (GLEN.L) hostile attempt to merge with Teck. Vancouver-based Teck has rebuffed Swiss mining company Glencore's $22.5 billon offer to combine the two companies and is instead pursing plans to separate its copper and coal business. Teck last month pulled its initial business separation plan at the last minute after failing to secure enough shareholder support. Glencore has offered a cash component for Teck's coal business worth C$8 billion ($5.98 billion). A source close to the matter said that an alternative offer for Teck's steelmaking coal business might push the Swiss conglomerate to finally make an improved offer.

[1/2] The logo of battery recycler Li-Cycle Holdings Corp is displayed on their offices in Phoenix, Arizona, U.S. June 30, 2022. REUTERS/Ernest ScheyderMay 9 (Reuters) - Battery recycler Li-Cycle Holdings Corp (LICY.N) said on Tuesday it planned to develop a recycling hub in Italy along with Swiss miner and commodity trader Glencore Plc (GLEN.L) to produce battery materials including lithium. Canada-based Li-Cycle had earlier announced in March that it would be building a French battery processing facility amid rising demand for lithium due to its key role in transition towards net zero. The two companies are expected to complete a joint feasibility study for the project by mid-2024, Li-Cycle said. Once the companies make a final investment decision on the project, commissioning of the hub in Portovesme, Italy, is expected to commence in late 2026 to early 2027.

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