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forget china, the hot money in mining is suddenly saudi
a us$2.6-billion deal announced last week has set the stage for a potentially landmark shift in the metal and mining investment landscape
a us$2.6-billion deal announced last week has set the stage for a potentially landmark shift in the metal and mining investment landscape: the arrival of saudi arabia as a pivotal player.
the agreement with vale sa gives the kingdom a 10 per cent slice in one of the world’s crucial suppliers of nickel and copper — essential metals needed to decarbonize. it’s also held other talks, including with barrick gold corp. about investing in a big ****stan copper mine, according to people familiar with the matter. speaking privately, executives at top miners said the value of july 27’s deal made clear that the saudis are ready to splash cash around.
https://financialpost.com/commodities/mining/forget-china-hot-money-mining-saudi-arabia
Microsoft, Trammell Crow, Nextracker and other companies will request 2 million tons of “near-zero-emissions” steel in push to help U.S. steelmakers decarbonize.
https://www.canarymedia.com/articles/clean-industry/major-steel-users-band-together-to-place-first-big-green-steel-order
NEW YORK CITY — Companies that use huge amounts of steel to construct buildings or clean-energy equipment are banding together to push North American steelmakers to adopt greener manufacturing methods.
On Wednesday, corporations including tech giant Microsoft, major U.S. real estate developer Trammell Crow and solar-hardware-maker Nextracker announced a plan to jointly request a total of 2 million metric tons of “near-zero emissions” steel from producers.
https://www.canarymedia.com/articles/clean-industry/major-steel-users-band-together-to-place-first-big-green-steel-order
Brilliant MM.
The Gary Nagle meeting in Switzerland is the one that ties all this and Zanaga together.
Let’s hope the $11bn loan is to be used on zanaga and infrastructure to get it out of the ground and to Green Steel hubs around the Middle East and Asia.
Interesting that they are looking to get the loan sorted in the next month or so. Just in time for the Chinese recosting!!
Thanks MM.
Green steel is the future, just look at the rush to get projects underway.
There is not a chance that Zanaga’s massive resource will be left untapped.
Yesterday’s price is not today’s price!!
It’s become a case of not “if” a bid will come for the 5th biggest iron ore resource on the plant but “when”.
Things are seriously hotting up!!
Great find MM.
Thanks guys all great info.
Exactly Extrader, everything will be going up in value, including Zanaga 😃
DSN was invited along to the BRICS summit and looks like he was speaking to everyone including Xi Jinping, President Lula da Silva and even the Secretary General to the UN.
https://twitter.com/pr_congo/status/1694647127681413530?s=46&t=z4xNhdJMfh7lQTckBCIJuw
Dennis seems to be getting serious air time with big hitters!!
Another piece of the jigsaw sorted. All coming together nicely.
Confirmed!!
President Ramaphosa . Johannesburg II Declaration adopted . The XV Summit has adopted guiding principles on the BRICS EXPANSION.Following countries invited to join .
Argentina
Egypt
Ethiopia
Iran
Saudi Arabia
UAE
To take effect from the 1st of January 2024
https://twitter.com/bricsza/status/1694619430435606808?s=46&t=z4xNhdJMfh7lQTckBCIJuw