Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Exxaro sold the enterprise after failing to secure port and rail agreements with the Congolese government, booking a 5.76 billion-rand ($460 million) writedown in the process. Sapro acquired the project. Zioc needs to secure a port agreement, pending. Politics; Paul Obambi is an influential entity. Not long now. GLA
I wonder if Paul Obambi's Sapro, Niari Region, close to Zanaga, would be interested in taking a stake in Zioc, via Shard? Would Paul let foreigners take over near his patch? He did buy Exxaro and started shipping Iron Ore to Port Noire after all. Just speculating.
It all depends upon the forthcoming revised FSS: The gravy train? A major world class project, at the right price?
Sells do not make any sense, as yet? Perhaps it will make sense soon. Last two days for an RNS at least. Or perhaps a suspension if the news we all expect is massive? Expectations drives the market. Its been too long for all holding this baby. Patience? Frustrating.
Who is selling chunks of this stock? Does someone know what we ought to know?
Hello Extrader, I got that from Iron Ore News
https://deal.ig.com/web-platform/#/tearoff/news/20240319-nL3N3FT26D ...19/03/2024
India's steel majors to invest billions to meet buoyant local demand
19 Mar 2024
By Neha Arora and Manvi Pant
NEW DELHI/BENGALURU, March 19 (Reuters) – Leading Indian steel producers, including JSW Steel Ltd and Tata Steel Ltd , are expected to invest billions in a record capacity increase to benefit from rising domestic demand in one of the world's fastest growing economies.
A spurt in economic activity and a revamp of broader infrastructure have drawn steel makers from around the world to India, where demand is rising. In Europe and the United States, it is falling.
Analysts and company data showed major mills were planning to increase capacity by at least 22 million metric tons in the fiscal year beginning April 2024.
Jindal Steel and Power is expected to add 6 million metric tons to existing capacity of around 9.6 million metric tons and Tata Steel said it was adding 5 million tons to its capacity of 21 million tons.
JSW Steel, India's largest steel maker, has said in results reports it aims to increase capacity to 38.5 million tons by 2024/25, up from 27.5 million tons domestic capacity now.
None of the companies has said how much it will be spending on capacity, although analysts, who said the expansion was unprecedented, predicted it would be billions.
"We expect JSW Steel will spend $2-$2.2 billion a year towards brownfield expansions, scaling up its iron mining capacities in Odisha, raw material efficiency projects and downstream projects," Hui Ting Sim, an assistant vice president, Moody's Ratings in Singapore, said referring to the eastern Indian state.
Together with Japan's JFE Steel, JSW Steel said in February it would invest 55 billion rupees ($662.85 million) in an Indian joint venture to produce grain-oriented electrical steel, used in manufacturing transformers.
Tata Steel meanwhile, is expected to spend between $1.21-$1.51 billion in 2024/25, Lakshmanan R, head of South & Southeast Asia corporates at CreditSights in Singapore, said.
Anshuman Bharati, an analyst at S&P Global Ratings in Singapore, meanwhile, expected India's steel consumption would grow between 8% to 10% in 2024/25.
During April-January, India's steel consumption rose by 14.5% to a six-year high of 112.5 million metric tons.
($1 = 82.97 rupees)
(Reporting by Neha Arora in NEW DELHI, Manvi Pant in BENGALURU; editing by Mayank Bhardwaj and Barbara Lewis) ((neha.dasgupta@tr.com;)
NEW DELHI/BENGALURU, March 19 (Reuters) – Leading Indian steel producers, including JSW Steel Ltd and Tata Steel Ltd , are expected to invest billions in a record capacity increase to benefit from rising domestic demand in one of the world's fastest growing economies.
The IHC unit's interest is spurred by an aggressive push by cash-rich oil majors United Arab Emirates and Saudi Arabia to secure critical metal supply in Africa, as they bid to diversify their economies and engage with energy transition.
Middle East investors are pitted against Chinese companies in Africa, including state backed firms, also aggressively pursuing deals in Africa to strengthen China's grip on minerals required to power a rapidly expanding domestic electric vehicle manufacturing sector.
EMR Capital's binding deal agreed directly with JHCX technically precludes it from entertaining any new offers, one of the sources said. Still, EMR is aware that IRH is interested in buying the assets and that the UAE firm has officially informed the Zambian government and ZCCM-IH of its interest, two sources said.
While its interest is now widely known within the Zambian government circles, the UAE firm hasn't presented a formal offer to EMR on the Lubambe stake, one source said.
EMR declined to comment. IRH and IHC didn't immediately respond to emailed questions.
IRH has gatecrashed once before. It staged a last minute buyout of a 51% stake in Zambia's Mopani Copper Mines last month, its first mining deal in Africa's second-largest producer of the metal that is key to products from power lines and industrial machinery to electric vehicles.
The Abu Dhabi firm became the Zambian government's preferred investor for Mopani mines ahead of Sibanye Stillwater and China's Zijin Mining Group , which had been short listed for the assets after a protracted selection process.
375k director placing at 0.08....deep pocket
Interesting.
2KM from TYM license....close huh...interesting, since KoBold intends to plough millions into their project.
TYM notes KoBold intent..
Nearly Time to deliver world-class results.
Mr Gary Vallerius
Chief Financial Officer
Mr Vallerius has more than 30 years of experience in the mining sector, with extensive knowledge of West African iron ore in particular. Mr Vallerius was formerly Finance Director of the Simandou Project for Rio Tinto.
Mr Colin Harris
Lead Technical Expert
Mr Harris has more than 40 years of experience in the mining sector, with extensive knowledge of West African iron ore in particular. Mr Harris was formerly Project Manager of the Simandou Project for Rio Tinto, and formerly Project Manager of the Zanaga Iron Ore Project.
Mr Marty Knauth
Chief Executive Officer
Mr Knauth is a senior mining executive with extensive experience in the industry spanning more than 30 years in a wide range of cultures, countries and commodities, with notable success in project development, operations and transformational growth phases, as well as establishment of performance cultures. With previous experience in Australia, Kazakhstan, Madagascar, Cuba, the DRC and many other jurisdictions, working for such companies as Western Mining Corp, Vale, Sherritt Metals International, KAZ Minerals and Glencore. He has a strong record in establishing and maintaining positive relationships with governments, communities, employees and other Project stakeholders critical to the Company’s success. Mr Knauth holds a Bachelor’s degree in Mining Engineering from the University of Queensland, a Masters degree in Mineral Economics from Curtin University and is a Member of the AusIMM.
BEIJING, Jan 30 (Reuters) – The world's largest steelmaker China Baowu Steel Group has raised 10 billion yuan ($1.4 billion) from a bond issue, in part for the giant Simandou iron ore project in Guinea, it said on Monday.
The capital, raised by issuing three-year fixed rate bonds with an annual coupon rate of 2.45%, will be used for operating expenditure, including debt repayments, working capital and project construction, the company said in a document filed to the Shanghai Stock Exchange last week.
At least 70% of the capital raised will be used for the northern blocks of the Simandou project, according to the document.
The Simandou project in southeastern Guinea in West Africa is set to be the world's largest and highest grade new iron ore mine.
The two mining blocks in the northern region are being developed by Winning Consortium Simandou (WCS), made up of Singapore-based Winning International Group, Weiqiao Aluminium – part of the China Hongqiao Group – and United Mining Suppliers.
The entire Simandou project will be completed and put into operation in 2026, Baowu said in the document.
Https://uk.finance.yahoo.com/news/tokens-blockchain-crypto-060028173.html
Turning assets into tokens on blockchain is $15tn market, says analyst
CMEC...correction as one of our "strategic partners"
At least we now know "one" of the partners! Who else is going to be our "partners"...time will tell...patience
I am not sure if Angra Ltd UK is Angra...but the one director of Angra UK match GS Fintech Uk. But the appt of Lord Wellesley as a director was not reported. https://companycheck.co.uk/company/06953910/ANGRA-LIMITED/companies-house-data
WELLESLEY, James Christopher Douglas, Lord...Active Director of Angra Ltd UK. So is ZHENCONG, Bai (GS Fintech Ltd)
Correspondence address
2 The Mermaid House, 2 Puddle Dock, Blackfriars, Office 205, London, England, EC4V 3DB
Role Active
Director
Date of birth
December 1964
Appointed on
31 August 2023
"With SGX 62% Iron Ore futures breaking out of resistance at approximately $136 a metric ton, the market is poised to aim for $145-158 a ton in the coming quarter."
JOHANNESBURG, Dec 14 (Reuters) – KoBold Metals, a California-based startup whose backers include billionaires Bill Gates and Jeff Bezos, is searching for lithium deposits across four continents, widening its hunt for metals the world needs for cleaner energy and electric vehicles.
The Silicon Valley startup, which uses artificial intelligence to search for critical metals, will deploy the latest technology to search for lithium in South Korea, Quebec in Canada, the United States, Australia and Africa, CEO Kurt House told Reuters.
House said KoBold was adding lithium to the suite of minerals it wants to mine following successes in exploring for nickel and copper in Quebec and Zambia.
In Africa, KoBold is also searching for lithium in Namibia and plans to start exploring for the mineral in the Democratic Republic of Congo – the world's top cobalt supplier.
"Our plan is to develop the mines ourselves and ultimately in the next 10 to maybe 15 years from now, we want to be the largest supplier of critical metals," House said.
KoBold was previously focused on searching for nickel and copper, and in Africa it is working on plans to build a mine in Zambia within the next 10 years.
The startup is backed by Breakthrough Energy Ventures, a climate and technology fund whose other backers include Virgin Group's Richard Branson and Bridgewater Associates' Ray Dalio.
The company also searches for critical metals with BHP Group and Rio Tinto at projects in Australia and Canada. It is stepping up exploration for the metals as the U.S. is increasingly looking for alternative sources of supply for critical metals.
KoBold wants to bridge the gap left by bigger mining companies that haven't been investing so much in discovering new deposits, particularly for minerals key to helping the world's transition from fossil fuels, House said.
Major miners have lately been focused on running operations leanly and returning cash to shareholders, and if they do invest it's largely been expanding output at existing operations.
"With some exceptions, they basically don't," House said. "They're really driven by maintaining their dividend yields and they are not growth oriented. So we need to do it and the world needs these minerals."