Glencore, carmakers lead $1bn acquisition of Appian nickel-copper mines in Brazil
Mining News Pro - Private equity firm Appian Capital Advisory is selling its wholly owned Atlantic Nickel and Mineração Vale Verde operations in Brazil to ACG Acquisition Company Limited (LON: ACG) for $1 billion cash, with capital coming from battery metals hungry actors, including Glencore (LON: GLEN) and Volkswagen.
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US Treasury signals opening for foreign carmakers on EV subsidy
Mining News Pro - The US Treasury Department signaled some imported cars will qualify for electric-vehicle tax credits in the Inflation Reduction Act, a move that could assuage Asian and European allies’ concerns about the sweeping climate legislation.
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Carmakers switch to direct deals with miners to power electric vehicles
Mining News Pro - The International Energy Agency forecasts that soaring EV battery demand will require 50 new lithium projects, 60 nickel mines and 17 cobalt developments by 2030, a huge challenge for an industry that typically takes 15 years or more to develop a project.
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Europe's carmakers face raw material bottleneck for EV batteries
Mining News Pro - Major carmakers like Volkswagen, Daimler and Stellantis have been racing to secure battery cell supplies in Europe, but may face a bigger challenge as they seek to go electric - finding enough battery raw materials.
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Carmakers have blind spot for lithium, cobalt, nickel prices
Mining News Pro - A new research note from battery supply chain specialist and price reporting agency, Benchmark Mineral Intelligence, has a warning for carmakers about the direction of battery prices used in electric vehicles – that they won’t fall indefinitely.
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Carmakers urged to invest in mines to avoid battery metal pinch
Mining News Pro - Mine developers scrambling to fund projects to meet forecast demand for battery metals see the threat of looming supply crunches as a trigger for electric-vehicle makers to step in with investments.
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Savannah Resources in talks with carmakers, sees Portuguese lithium in 2021
Mining News Pro - London-based mining company Savannah Resources said on Monday it was in talks with several major European industrial groups, including carmakers, as it gears up to start commercial lithium production in northern Portugal in 2021.
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