George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I'd suggest you can read that article as the MDAs are now close to being agreed on and signed off ..
'AG Thabo Chakaka Nyirenda said his office cannot sign the agreements without proper consultations.
He said the government would like to benefit from these agreements hence the delays.
“We needed to sit down and reach an agreement with the companies before signing the agreements. Otherwise it could be unwise to regret after the MDAs have already been signed,” Nyirenda said.
'needed' not 'need to'
Internal politicking ,it is frustrating
I noticed Mkango linked in the US embassy again and the US announced $40 million funding for Malawi private sector projects....reckon Songwe fits with US plans and could be one of the 7 rare earth projects....
What'd be great is if this bill is law by first US production :)
'Rare earth magnets are challenging to make and are not readily available in large quantities. Low-cost, high-quality magnets from China have squeezed the profitability of United States producers, and while industry sources estimate the global rare earth magnet market will nearly double by 2027, China could dominate the market because of low production costs.
The bipartisan bill creates a $20 per kilogram production tax credit for magnets that are manufactured in the United States, or $30 per kilogram for magnets that are both manufactured in the United States and for which all component rare earth material is produced and recycled or reclaimed wholly within the United States. To be eligible, the rare earth magnets may not include any component rare earth magnet material produced in non-allied foreign nations such as China, Iran, North Korea, and Russia.
The bill is endorsed by MP Materials, USA Rare Earths, National Mining Association, and Zero Emission Transportation Association.'
Also, I noticed the US is open to its current Inflation Act tax bill to be utilised by none US freindly nations.
Doubt it,I think it's more for EV metals mined in the UK?.... maybe the Cornish mine for Lithium?
But great that Mkango has crashed the party as it were :).. Rare Earths are needed critical minerals there will have been some interesting convos and conections made no doubts ...
All rather timely for this:
https://financialpost.com/pmn/business-pmn/us-turns-to-private-investment-for-critical-mineral-projects
(Bloomberg) — The US will unveil a network of private companies to help spur investment in 15 global critical-minerals projects designed to create a more secure supply chain of key metals.
The consortium, which includes mining and technology firms, will act as sources of information and investment for the Minerals Security Partnership, which comprises of 14 nations including the US, UK, European Union and Japan. The countries, along with some large producing nations, will meet in London on Oct. 10 to discuss how to finance the critical mineral projects, as well as environmental concerns. The focus will be on minerals used in electric car batteries.
Article content
“No country can do it alone,” Jose Fernandez, US under secretary for economic growth, energy and the environment, said at a press briefing in London on Thursday. The US is seeking private investment in 15 projects across five continents, ranging from extraction to processing, including one in the UK, he said.
“It’s a project that is very promising that we are eager to support,” Fernandez said of the UK project. He declined to provide details.
Read More: Why the Fight for ‘Critical Minerals’ Is Heating Up: QuickTake
Encouraging private sector companies to invest is a crucial part of the partnership’s aim to funnel foreign investment into a sector that supplies the raw materials crucial to the EVs and solar panels that underpin efforts to usher in a greener economy.
The US and other nations are also focused on securing a resource supply chain that’s crucial to advanced manufacturing but remains almost totally dominated by China, which controls most of the market for processing and refining minerals such as cobalt, lithium and other rare earths.
Read More: US Seeks to Bolster Lithium, Cobalt Supply Chains Beyond China
The US signed a critical minerals agreement with Japan earlier this year which allows EVs that use materials that have been collected or processed in Japan to be eligible for incentives under the US Inflation Reduction Act, and is negotiating similar deals with the EU and UK, Fernandez said.
“We’re currently in conversations with both the EU and with the UK and those conversations are intense, they are ongoing,” he said.
Https://twitter.com/CMIA_alliance/status/1710321075903439283/photo/1
And that's not a bad position either
I believe that's our will there.... networking
https://twitter.com/CMIA_alliance/status/1710321075903439283/photo/4
BTW well done GLR for getting those relevant questions.....
Commercial plant due to come online anytime...
Somehow I think actually seeing say a wind turbine magnet being HyproMagged then sintered into new magnets then sold to a customer for a price with a realised profit will maybe just about wake AIM up a little :) ...
Cotec values a pre-commercial Magnito (HyproMag) at £20 million already and are willing to spend up to £30 million getting it commercial in the US I think that is Bonkers point, not that sp can't go lower but that the value is already baked into sp at this current price and soon... HyproMag goes commercial!
Talking IPO and 'significant' interest for Magnito..... looks like it might well not be stuck on AIM and at the mercy of this market and those who are keeping Mkangos share price suppressed (possibly deliberately) for too much longer in the big scheme of things :)
Presenting and available to view tomorrow at :
https://emerginggrowth.com/emerging-growth-conference-63/
At least it incentives Cotec to get a move on ...
'As announced on 14 September 2023, the roll-out of the HyProMag technology in the US is continuing with ongoing scoping studies ahead of the commencement of the feasibility study. Discussions with the US Government, potential customers and recycling partners have commenced and are ongoing. The US roll-out will be completed in parallel with UK and German based developments and is expected to benefit from operational experience and production ramp-up in the UK and Germany. First production is expected in the UK in 2023 and in Germany in 2024. Revenue from the US operation is targeted for 2025/2026'