RWE to Sell 49% Stake in Two Offshore Projects to Norway Fund
German energy company RWE AG signed an agreement with Norges Bank Investment Management for the latter to acquire a 49% stake in two North Sea wind projects.
NBIM will buy the stakes in RWE's Nordseecluster and Thor offshore wind projects for approximately €1.4 billion, according to a statement. The transaction is subject to customary approvals and is expected to be completed by the beginning of the third quarter of 2025.
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Auto companies 'in full panic' over rare-earths bottleneck
By Christina Amann, Nick Carey and Kalea Hall BERLIN/LONDON/DETROIT (Reuters) -Frank Eckard, CEO of a German magnet maker, has been fielding a flood of calls in recent weeks. Exasperated automakers and parts suppliers have been desperate to find alternative sources of magnets, which are in short supply due to Chinese export curbs. Some told Eckard their factories could be idled by mid-July without backup magnet supplies. "The whole car industry is in full panic," said Eckard, CEO of Magnosphere, based in Troisdorf, Germany. "They are willing to pay any price." Car executives have once again been driven into their war rooms, concerned that China's tight export controls on rare-earth magnets – crucially needed to make cars – could cripple production. U.S. President Donald Trump said Friday that Chinese President Xi Jinping agreed to let rare earths minerals and magnets flow to the United States. A U.S. trade team is scheduled to meet Chinese counterparts for talks in London on Monday. The industry worries that the rare-earths situation could cascade into the third massive supply chain shock in five years. A semiconductor shortage wiped away millions of cars from automakers' production plans, from roughly 2021 to 2023. Before that, the coronavirus pandemic in 2020 shut factories for weeks. Those crises prompted the industry to fortify supply chain strategies. Executives have prioritized backup supplies for key components and reexamined the use of just-in-time inventories, which save money but can leave them without stockpiles when a crisis unfurls. Judging from Eckard's inbound calls, though, "nobody has learned from the past," he said. This time, as the rare-earths bottleneck tightens, the industry has few good options, given the extent to which China dominates the market. The fate of automakers' assembly lines has been left to a small team of Chinese bureaucrats as it reviews hundreds of applications for export permits. Several European auto-supplier plants have already shut down, with more outages coming, said the region's auto supplier association, CLEPA. "Sooner or later, this will confront everyone," said CLEPA Secretary-General Benjamin Krieger. Cars today use rare-earths-based motors in dozens of components – side mirrors, stereo speakers, oil pumps, windshield wipers, and sensors for fuel leakage and braking sensors. China controls up to 70% of global rare-earths mining, 85% of refining capacity and about 90% of rare-earths metal alloy and magnet production, consultancy AlixPartners said. The average electric vehicle uses about .5 kg (just over 1 pound) of rare earths elements, and a fossil-fuel car uses just half that, according to the International Energy Agency. China has clamped down before, including in a 2010 dispute with Japan, during which it curbed rare-earths exports. Japan had to find alternative suppliers, and by 2018, China accounted for only 58% of its rare earth imports. "China has had a rare-earth card to play whenever they wanted to," said Mark Smith, CEO of mining company NioCorp, which is developing a rare-earth project in Nebraska scheduled to start production within three years. Across the industry, automakers have been trying to wean off China for rare-earth magnets, or even develop magnets that do not need those elements. But most efforts are years away from the scale needed. "It's really about identifying ... and finding alternative solutions" outside China, Joseph Palmieri, head of supply chain management at supplier Aptiv, said at a conference in Detroit last week. Automakers including General Motors and BMW and major suppliers such as ZF and BorgWarner are working on motors with low-to-zero rare-earth content, but few have managed to scale production enough to cut costs. The EU has launched initiatives including the Critical Raw Materials Act to boost European rare-earth sources. But it has not moved fast enough, said Noah Barkin, a senior advisor at Rhodium Group, a China-focused U.S. think tank. Even players that have developed marketable products struggle to compete with Chinese producers on price. David Bender, co-head of German metal specialist Heraeus' magnet recycling business, said it is only operating at 1% capacity and will have to close next year if sales do not increase. Minneapolis-based Niron has developed rare-earth free magnets and has raised more than $250 million from investors including GM, Stellantis and auto supplier Magna. "We've seen a step change in interest from investors and customers" since China's export controls took effect, CEO Jonathan Rowntree said. It is planning a $1 billion plant scheduled to start production in 2029. England-based Warwick Acoustics has developed rare-earth-free speakers expected to appear in a luxury car later this year. 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Andy Leyland, co-founder of supply chain specialist SC Insights, said any of those elements could be used as leverage by China. "This just is a warning shot," he said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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AMG Critical Materials N.V. Announces New Global Head of Investor Relations
--- AMG Critical Materials N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce that Mr. Thomas Swoboda has been appointed the new global Head of Investor Relations, effective immediately. He is the successor to Ms. Michele Fischer, who has held that position for the last six years and has transitioned to Head of Human Resources on a global level as Executive Vice President. Thomas brings over 18 years of international capital market experience with him. He joins AMG from Société Generale/Bernstein, where he was Director of Equity Research since 2015. Before that, he was a Senior Equity Analyst at MainFirst Bank/Stifel. Thomas holds a degree in Business Administration from Mannheim University, where he was a recipient of the Research Award of the Prechel-Stiftung. He is multilingual, with proficiency in German, English and Portuguese (Brazilian). He will be based at our Frankfurt office, reporting to Dr. Heinz Schimmelbusch, CEO and Chairman of the Management Board. He can be reached directly by email at tswoboda@ or by phone at +49 176 1000 73 14. About AMG AMG's mission is to provide critical materials and related process technologies to advance a less carbon-intensive world. To this end, AMG is focused on the production and development of energy storage materials such as lithium, vanadium, and tantalum. In addition, AMG's products include highly engineered systems to reduce CO2 in aerospace engines, as well as critical materials addressing CO2 reduction in a variety of other end use markets. AMG's Lithium segment spans the lithium value chain, reducing the CO2 footprint of both suppliers and customers. AMG's Vanadium segment is the world's market leader in recycling vanadium from oil refining residues, spanning the Company's vanadium, titanium, and chrome businesses. AMG's Technologies segment is the established world market leader in advanced metallurgy and provides equipment engineering to the aerospace engine sector globally. It serves as the engineering home for the Company's fast-growing LIVA batteries, NewMOX SAS formed to span the nuclear fuel market, and spans AMG's mineral processing operations in graphite, antimony, and silicon metal. With approximately 3,600 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, and Sri Lanka, and has sales and customer service offices in Japan ( For further information, please contact:AMG Critical Materials N.V. +49 176 1000 73 14Thomas Swobodatswoboda@ Disclaimer Certain statements in this press release are not historical facts and are 'forward looking'. Forward looking statements include statements concerning AMG's plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG's competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG's business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words 'expects,' 'believes,' 'anticipates,' 'plans,' 'may,' 'will,' 'should,' and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG's expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based. Attachment AMG IR AppointmentError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Evri's DHL deal to create one of the UK's largest delivery firms
Evri is set to merge its e-commerce operations with rival DHL in a move that will reshape the UK's parcel delivery landscape and create one of the UK's largest delivery firms. The deal will see the creation of one of the country's largest delivery entities, handling a combined total of more than one billion parcels and one billion letters annually. As part of the agreement, German-owned DHL Group will acquire a "significant minority stake" in Evri, with US private equity firm Apollo, which acquired Evri last year for £2.7 billion, remaining the majority shareholder. The merged operations will function under the Evri Group banner, uniting a workforce of more than 30,000 couriers and van drivers, alongside an additional 12,000 employees. This merger marks a significant development in the UK's competitive delivery market, bringing together two major players to create a formidable force in parcel and letter delivery. They said the merger will offer 'greater choice and cost-competitive solutions' to businesses and consumers, and expand import and export capabilities. The deal will also see Evri entering the UK business letter market for the first time, bolstering its competition to Royal Mail. Martijn de Lange, chief executive of Evri, said: 'We are excited that DHL ecommerce UK will merge with Evri to bring together two highly complementary UK businesses, committed to innovation and offering customers and clients the best possible service. 'By combining Evri's scale, innovation and DHL ecommerce's best-in-class premium van network, we are creating the pre-eminent parcel delivery group in the UK.' Pablo Ciano, chief executive of DHL ecommerce, said: 'DHL ecommerce and Evri both stand for top service quality, reliability and sustainability, which makes this partnership a great fit for our customers. 'Together, we'll be able to offer more efficient, far-reaching and innovative solutions to keep up with the fast-paced e-commerce market.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
