Electric Vehicle (EV) Charging Services Market to Surge to USD 45 Billion by 2034, Driven by 14.1% CAGR
Electric Vehicle Charging Services Market Report (2025–2034)
Luton, Bedfordshire, United Kingdom, May 28, 2025 (GLOBE NEWSWIRE) -- Market Overview
The global Electric Vehicle (EV) Charging Services Market was valued at approximately USD 12.5 billion in 2024 and is poised for substantial expansion, projected to reach USD 45 billion by 2034. This growth corresponds to a robust CAGR of 14.1% from 2025 to 2034. Key drivers include increasing EV adoption, favorable government policies, and accelerating investment in fast-charging and smart infrastructure technologies.
Get a Sample PDF Brochure: https://exactitudeconsultancy.com/reports/64889/electric-vehicle-charging-services-market#request-a-sample
Market Segmentation
By Charging Infrastructure Type
Level 1 Charging: Popular in residential setups; slower but cost-effective.
Level 2 Charging: Fastest-growing segment; suitable for residential, commercial, and public use.
DC Fast Charging (DCFC): Critical for highway and urban installations; caters to long-range EVs.
Wireless Charging: Emerging segment offering contactless convenience but currently limited by cost and infrastructure.
By Charging Station Ownership
Public Charging Stations: Essential in urban areas; driven by government and private partnerships.
Private Charging Stations: Residential users prefer private setups, supported by incentives.
Fleet Charging Stations: Growing with commercial fleet electrification and logistics industry uptake.
By Business Model
Subscription-Based: Preferred for cost predictability.
Pay-Per-Use: Ideal for casual and occasional users.
Free with Advertisements: Innovative but niche; growing in urban retail hubs.
By End User
Individual Consumers: Primary driver of market demand.
Commercial Entities: Fleet electrification and sustainability initiatives fuel growth.
Government Entities: Investing heavily in public infrastructure to meet climate targets.
By Technology
Plug-in Charging: Market standard; widely used across all charger levels.
Wireless Charging: Offers future potential for urban and autonomous vehicle ecosystems.
By Distribution Channel
Online: Gaining momentum through digital platforms and apps.
Offline: Still dominant in commercial and fleet setups for bulk installations.
By Connector Type
CCS (Combined Charging System): Market leader due to global standardization.
CHAdeMO / Type 2: Region-specific adoption; consistent but secondary.
Tesla Supercharger: Dominates Tesla EVs; expanding slowly toward universal compatibility.
Regional Analysis
North America In 2024, North America accounted for approximately 42% of the global EV charging cables market share, making it the dominant regional player. The market's strength in this region is largely driven by favorable regulatory frameworks that promote electric vehicle (EV) adoption, combined with consistent technological advancements and substantial private-public investments. The United States and Canada have introduced extensive federal and state-level incentives that support the installation of EV infrastructure, which in turn propels demand for high-quality and durable charging cables. Furthermore, North America is witnessing a significant expansion of fast-charging networks, particularly along major highways and urban centers. The integration of EV charging stations with smart grid systems and energy storage solutions is also gaining momentum, creating new avenues for innovation in cable design and functionality.
Europe Europe captured around 30% of the global market share in 2024 and is expected to grow at a compound annual growth rate (CAGR) of approximately 13% from 2025 to 2034. The region's market growth is primarily driven by stringent European Union (EU) emission regulations and ambitious urban sustainability initiatives aimed at achieving carbon neutrality. Countries such as Germany, the Netherlands, and Norway are at the forefront, with aggressive electrification targets and strong government support for EV infrastructure. A notable trend in the European market is the deployment of ultra-fast charging stations that require advanced cable technology capable of handling higher power loads. In addition, large-scale public funding and public-private partnerships are enabling the rapid expansion of accessible and standardized charging infrastructure across urban and rural areas, thereby boosting cable demand.
Asia-Pacific Asia-Pacific held approximately 25% of the global EV charging cables market share in 2024 and is projected to be the fastest-growing region, with a forecasted CAGR of around 17% from 2025 to 2034. The explosive market growth in this region is primarily fueled by surging EV adoption rates in countries like China, Japan, and South Korea, supported by strong government policies, purchase subsidies, and large-scale investments in EV infrastructure. Urbanization and the need for sustainable transport options are further contributing to the increasing demand for EVs and associated charging equipment, including cables. Key market trends in Asia-Pacific include the domestic manufacturing of charging cables to reduce dependency on imports, as well as the integration of renewable energy sources—such as solar and wind—into EV charging stations. These developments are shaping a highly dynamic and competitive landscape for EV charging cables in the region.
Browse full Report - https://exactitudeconsultancy.com/reports/64889/electric-vehicle-charging-services-market
Key Market Players
ChargePoint
Tesla Supercharger
EVgo
Blink Charging
Electrovolt
Ather Energy
Tata Power
Fortum
ABB
Shell Recharge
Siemens
NewMotion
Fastned
BP Chargemaster
Volta Charging
Growth Drivers
The global EV charging cables market is witnessing significant momentum, primarily fueled by the surge in electric vehicle (EV) sales across both developed and emerging economies. As automakers ramp up production and expand their EV portfolios, the need for reliable, efficient, and fast-charging infrastructure — including cables — is growing exponentially. Another key catalyst is the strong regulatory push by governments worldwide, which are enforcing stringent emission reduction targets and providing policy support such as tax rebates, subsidies, and zero-emission vehicle (ZEV) mandates. These initiatives are encouraging both consumers and businesses to transition to electric mobility. Moreover, technological advancements are reshaping the landscape, particularly with innovations in fast-charging and wireless charging solutions. These technologies demand high-performance cables capable of handling higher voltages and currents while maintaining safety and durability. Additionally, declining battery costs are making EVs more affordable, leading to broader market penetration. Alongside this, increasing consumer awareness about environmental sustainability and long-term cost savings is accelerating EV adoption, thereby driving demand for associated charging infrastructure, including cables.
Challenges
Despite strong market potential, several challenges hinder the smooth expansion of the EV charging cable industry. One major issue is the uneven distribution of charging infrastructure, which creates so-called 'charging deserts' — areas, particularly in rural or underdeveloped regions, where charging facilities are scarce or non-existent. This limits consumer confidence in switching to EVs and reduces market reach. Supply chain disruptions are another concern, especially post-pandemic and amid geopolitical tensions that have affected the availability of raw materials, semiconductors, and electronic components necessary for manufacturing chargers and cables. Furthermore, the industry grapples with regulatory and technical interoperability issues, as different automakers, regions, and charging networks adopt varied charging standards and connectors. This lack of standardization complicates infrastructure rollout and increases manufacturing complexity. Finally, the capital-intensive nature of installing fast-charging stations — which require robust cables and high-power components — poses financial barriers, especially for smaller market entrants and municipalities with limited budgets.
Opportunities
Amid these challenges, the market is rich with emerging opportunities. One of the most promising areas is the development of smart charging and Vehicle-to-Grid (V2G) technologies, which enable dynamic load management and allow EVs to feed power back into the grid. These solutions are not only efficient but also help stabilize the energy grid, especially with the growing penetration of renewables. Additionally, the rise of subscription-based and bundled service offerings is transforming the traditional EV charging business model. By integrating cable sales with installation, maintenance, and digital monitoring services, providers can create recurring revenue streams and enhance customer retention. The electrification of commercial fleets, particularly in logistics, last-mile delivery, and shared mobility sectors, is another growth frontier. These applications demand robust and high-capacity charging solutions — including specialized cables — to ensure operational efficiency. Lastly, the global shift toward renewable-powered charging stations aligns with net-zero emission goals, opening up new markets for cables that are compatible with solar and wind-powered infrastructure.
Buy Now: https://exactitudeconsultancy.com/purchase/?currency=USD&type=single_user_license&report_id=64889
Recent Developments:
1. TE Connectivity
TE Connectivity, a global leader in connectivity and sensor solutions, has recently focused on advancing high-voltage cable assemblies specifically tailored for electric vehicles. In 2024, the company launched its next-generation high-power EV charging cable solutions that support fast charging up to 1000V and are designed to meet stringent thermal management and safety standards. These cables are equipped with advanced shielding to prevent electromagnetic interference, catering to the needs of high-performance EVs and commercial electric fleets. TE has also expanded its production capacity in Europe and North America to meet rising demand, reinforcing its position as a key supplier for OEMs and Tier 1 suppliers.
2. Leoni AG
Leoni AG, a prominent German manufacturer of wiring systems and cables, recently announced the development of its new liquid-cooled high-power charging (HPC) cables. These cables allow for ultra-fast charging at power levels exceeding 500 kW, significantly reducing charging time for EVs. The liquid cooling mechanism ensures optimal temperature control, enabling thinner cable designs without compromising safety or performance. Leoni has entered into strategic collaborations with charging station manufacturers across Europe and Asia, aiming to standardize these advanced cable solutions. In 2024, the company also opened a new R&D facility in Romania focused on EV components, including next-gen cable systems.
3. Aptiv PLC
Aptiv PLC, a global technology company, continues to expand its footprint in the EV charging ecosystem. In 2024, the company unveiled its 'Smart Vehicle Architecture', integrating high-voltage cable assemblies that enable intelligent energy distribution in electric vehicles. These cables are part of Aptiv's broader electrification platform and are designed to support over-the-air diagnostics and real-time monitoring, enhancing vehicle performance and safety. Aptiv has also partnered with leading EV manufacturers in North America and China to deliver modular cable systems compatible with both AC and DC charging, positioning itself as a key innovator in intelligent charging infrastructure.
4. Phoenix Contact
Phoenix Contact, a major player in electrical engineering and automation, has made headlines with its CHARX connect HPC cable system, which supports charging currents of up to 500A at 1000V. This innovation caters specifically to the needs of high-speed charging stations for electric trucks and commercial vehicles. The system features a lightweight ergonomic design and active cooling, ensuring user-friendliness and long-lasting performance. In 2024, the company expanded its CHARX product portfolio by incorporating smart monitoring functions that detect wear and overheating, boosting safety. Phoenix Contact is actively involved in EU-funded projects to accelerate the deployment of standardized ultra-fast EV charging infrastructure across the continent.
5. Sinbon Electronics
Sinbon Electronics, a Taiwan-based cable and connector specialist, has strengthened its presence in the global EV charging market with the launch of its ultra-flexible high-durability charging cable line. These cables are designed for harsh outdoor environments, offering high resistance to abrasion, extreme temperatures, and UV radiation. In early 2024, Sinbon signed new supply agreements with EV charging station providers in Southeast Asia and the Middle East, where climate-resilient infrastructure is critical. The company is also focusing on sustainability, developing cables with recyclable materials and low carbon manufacturing processes. This aligns with its broader ESG goals and enhances its appeal to environmentally conscious OEMs.
This report is also available in the following languages : Japanese (電気自動車充電サービス市場), Korean (전기 자동차 충전 서비스 시장), Chinese (电动汽车充电服务市场), French (Marché des services de recharge pour véhicules électriques), German (Markt für Ladedienste für Elektrofahrzeuge), and Italian (Mercato dei servizi di ricarica per veicoli elettrici), etc.
Get a Sample PDF Brochure: https://exactitudeconsultancy.com/reports/64889/electric-vehicle-charging-services-market#request-a-sample
More Research Finding –
Lithium Battery Nickel Plated Steel Strips Market
The global market for lithium battery nickel plated steel strips is valued at approximately $1.2 billion in 2024, driven by the rising demand for electric vehicles (EVs) and energy storage systems. As the push for renewable energy and sustainable transport accelerates, the market is projected to reach around $2.6 billion by 2034, reflecting significant growth opportunities.
https://exactitudeconsultancy.com/reports/64593/global-lithium-battery-nickel-plated-steel-strips-market
SiC Based Power Electronics Market
The global market for silicon carbide (SiC) based power electronics is valued at approximately $3.5 billion, with strong growth prospects driven by rising demand in electric vehicles (EVs), renewable energy systems, and efficient power management solutions. The market is projected to reach around $12 billion by 2034, reflecting a robust compound annual growth rate (CAGR) of approximately 13.4% during the forecast period of 2025 to 2034.
https://exactitudeconsultancy.com/reports/64584/global-sic-based-power-electronics-market
Industrial Power Inverter Market
The global industrial power inverter market is valued at approximately $12 billion in 2024, with projected growth driving the market to reach around $22 billion by 2034. This reflects a robust compound annual growth rate (CAGR) of 6.6% over the forecast period from 2025 to 2034.
https://exactitudeconsultancy.com/reports/64581/global-industrial-power-inverter-market
Electric Vehicle EV On Board Charger Market
The global electric vehicle (EV) on-board charger market is expected to reach approximately $4.6 billion in 2024. Driven by the increasing adoption of electric vehicles, stringent emissions regulations, and technological advancements in EV charging solutions, the market is projected to grow significantly over the next decade. By 2034, the market value is anticipated to soar to around $10.8 billion, representing a compound annual growth rate (CAGR) of approximately 8.7% during the forecast period of 2025–2034.
https://exactitudeconsultancy.com/reports/64576/global-electric-vehicle-ev-on-board-charger-market
Electric Vehicle Busbars Market
The global market for electric vehicle (EV) busbars is valued at approximately $1.2 billion in 2024. The market is projected to grow substantially, reaching an estimated $3 billion by 2034, driven by increasing electric vehicle adoption and advancements in charging infrastructure. This results in a Compound Annual Growth Rate (CAGR) of around 9.4% over the forecast period from 2025 to 2034.
https://exactitudeconsultancy.com/reports/64501/global-electric-vehicle-busbars-market
Electric Vehicle Charging Infrastructure Market
The global electric vehicle (EV) charging infrastructure market is valued at approximately $27 billion in 2024. This market is poised for significant expansion, with a projected worth reaching around $71 billion by 2034. This growth represents an impressive Compound Annual Growth Rate (CAGR) of about 10.3% during the forecast period from 2025 to 2034.
https://exactitudeconsultancy.com/reports/64025/global-electric-vehicle-charging-infrastructure-market
Electric Vehicle Thermal Management System Market
The global electric vehicle (EV) thermal management system market is valued at approximately $4.5 billion in 2024 and is anticipated to reach around $12.8 billion by 2034. This growth represents a robust Compound Annual Growth Rate (CAGR) of approximately 11.1% during the forecast period from 2025 to 2034.
https://exactitudeconsultancy.com/reports/63828/global-electric-vehicle-thermal-management-system-market
Powder Metallurgy for Electric Vehicles Market
The global powder metallurgy (PM) market for electric vehicles (EVs) is poised for significant growth, valued at approximately $8 billion in 2024. As the automotive industry increasingly shifts towards sustainable solutions, the market is projected to reach around $20 billion by 2034, reflecting a robust compound annual growth rate (CAGR) of about 9.5% during the forecast period from 2025 to 2034.
https://exactitudeconsultancy.com/reports/63114/global-powder-metallurgy-for-electric-vehicles-market
Battery Cooling Plates Market
The global market for battery cooling plates is valued at approximately $350 million in 2024, driven by the rising demand for electric vehicles (EVs) and renewable energy storage systems. As technological advancements improve battery efficiency and longevity, the market is projected to reach around $1 billion by 2034, exhibiting a robust Compound Annual Growth Rate (CAGR) of 12.5% during the forecast period from 2025 to 2034.
https://exactitudeconsultancy.com/reports/62107/global-battery-cooling-plates-market
Slip Ring for Automobile Generator Market
The global slip ring market for automobile generators is valued at approximately $780 million in 2024 and is anticipated to reach around $1.2 billion by 2034. This reflects a Compound Annual Growth Rate (CAGR) of 4.5% over the forecast period from 2025 to 2034.
https://exactitudeconsultancy.com/reports/62162/global-slip-ring-for-automobile-generator-market
Battery Charge Management IC Market
The global Battery Charge Management IC (Integrated Circuit) market is projected to reach a value of approximately $8.5 billion in 2024. This growth is driven by the increasing demand for energy-efficient devices, advancements in electric vehicle technology, and rising consumer electronics usage. From 2025 to 2034, the market is anticipated to expand significantly, with a projected value of around $14 billion, translating to a Compound Annual Growth Rate (CAGR) of about 6.6%.
https://exactitudeconsultancy.com/reports/62322/global-battery-charge-management-ic-market
Lithium-ion Battery Equipment Market
The global lithium-ion battery equipment market is poised for significant growth, with a projected market value of approximately $35 billion in 2024. This sector is anticipated to expand to around $85 billion by 2034, reflecting robust demand driven by increasing electric vehicle (EV) adoption and renewable energy storage solutions. The Compound Annual Growth Rate (CAGR) for the period from 2025 to 2034 is estimated to be around 9.1%.
https://exactitudeconsultancy.com/reports/62367/global-lithium-ion-battery-equipment-market
NEV IGBT Modules Heatsink Market
The global market for Electric Vehicle (EV) IGBT modules, particularly focusing on heatsinks, is valued at approximately $1.2 billion. The market is projected to reach around $3.6 billion by 2034, reflecting significant growth spurred by the increasing demand for electric vehicles and advancements in power semiconductor technology. The forecast period from 2025 to 2034 indicates a Compound Annual Growth Rate (CAGR) of approximately 12.1%.
https://exactitudeconsultancy.com/reports/62657/global-nev-igbt-modules-heatsink-market
High-end Passenger Cars Market
The global high-end passenger car market is valued at approximately $500 billion in 2024 and is projected to reach around $800 billion by 2034. This ambitious growth reflects a compound annual growth rate (CAGR) of about 5.1% over the forecast period of 2025-2034.
https://exactitudeconsultancy.com/reports/62816/global-high-end-passenger-cars-market
Anode Materials for Li-Ion Battery Market
The global anode materials market for lithium-ion batteries is poised for substantial growth. As of 2024, the market is valued at approximately $12 billion, driven by the increasing demand for electric vehicles (EVs) and renewable energy storage solutions. Projections indicate a market value of around $22 billion by 2034, reflecting a robust expansion over the forecast period.
https://exactitudeconsultancy.com/reports/62846/global-anode-materials-for-li-ion-battery-market
Industrial Cabinet Air Conditioner Market
The global industrial cabinet air conditioner market is valued at approximately $1.2 billion in 2024, with projections indicating growth to around $2.0 billion by 2034. This forecast represents a Compound Annual Growth Rate (CAGR) of about 6.2% during the period from 2025 to 2034.
https://exactitudeconsultancy.com/reports/64880/industrial-cabinet-air-conditioner-market
Silicon Carbide Heating Element Market
The global silicon carbide (SiC) heating element market is valued at approximately $450 million, reflecting a robust demand for energy-efficient heating solutions across various industries. The projected market value for the period 2025-2034 is expected to exceed $1 billion, driven by advancements in semiconductor technologies and a growing preference for sustainable manufacturing processes.
https://exactitudeconsultancy.com/reports/64864/silicon-carbide-heating-element-market
Optical Current Transformer Market
The global optical current transformer (OCT) market is poised for substantial growth, valued at approximately $650 million in 2024. Projections indicate that the market will reach an estimated $1.2 billion by 2034, reflecting the increasing demand for precise and reliable electricity measurement solutions. The Compound Annual Growth Rate (CAGR) for the forecast period from 2025 to 2034 is anticipated to be around 6.5%.
https://exactitudeconsultancy.com/reports/64852/optical-current-transformer-market
Rubber Recycling Market
The rubber recycling market is poised for robust growth, valued at approximately $6.5 billion in 2024. The market is expected to expand significantly, reaching an estimated $10 billion by 2034, driven by increased environmental awareness and regulatory pressures. This translates to a Compound Annual Growth Rate (CAGR) of around 5% for the forecast period from 2025 to 2034.
https://exactitudeconsultancy.com/reports/64842/rubber-recycling-market
Ethernet PHY Chips Market
The Ethernet PHY chips market is projected to be valued at approximately $3.5 billion in 2024, with significant growth anticipated during the forecast period from 2025 to 2034, potentially reaching around $6.8 billion. This indicates a robust Compound Annual Growth Rate (CAGR) of roughly 7% over the next decade, driven by increasing demand for faster, more reliable networking solutions.
https://exactitudeconsultancy.com/reports/64838/ethernet-phy-chips-market
CONTACT: Contact Data Irfan Tamboli (Head of Sales) Phone: + 1704 266 3234 Email: sales@exactitudeconsultancy.comSign in to access your portfolio
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
42 minutes ago
- Yahoo
LGI Homes, Inc. Reports May 2025 Home Closings
THE WOODLANDS, Texas, June 04, 2025 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced it closed 416 homes in May 2025. As of May 31, 2025, the Company had 145 active selling communities. About LGI Homes, Inc. Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America's fastest growing companies, LGI Homes has closed over 75,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek's list of the World's Most Trustworthy Companies. LGI Homes' commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state, and national level, including the Top Workplaces USA 2025 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company's website at CONTACT:Joshua D. FattorExecutive Vice President, Investor Relations and Capital Markets(281) 210-2586investorrelations@ in to access your portfolio
Yahoo
an hour ago
- Yahoo
NevGold Adds More Significant Oxide Gold-Antimony Results: 7.04 g/t AuEq Over 15.2 Meters (6.37 g/t Au And 0.15% Antimony) Within 4.14 g/t AuEq Over 29.0 Meters (3.56 g/t Au And 0.13% Antimony), and Expands Gold-Antimony Mineralization Over 400 Meters Along Strike at the Limousine Butte Project, Nevada
Vancouver, British Columbia, June 04, 2025 (GLOBE NEWSWIRE) -- NevGold Corp. ('NevGold' or the 'Company') (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that it has discovered further significant oxide gold-antimony ('Antimony', 'Sb') drill results at its Limousine Butte Project (the 'Project', 'Limo Butte') in Nevada. The Company continues to unlock the substantial gold-antimony potential of the Project, highlighting its promising prospects for further exploration and development in Nevada, one of the world's prolific mining jurisdictions. Key Highlights Some of the highest gold-antimony grades seen to date at Resurrection Ridge including: LIM-46: 7.04 g/t AuEq* over 15.2 meters (6.37 g/t Au and 0.15% Sb), within 4.14 g/t AuEq* over 29.0 meters (3.56 g/t Au and 0.13% Sb LB016: 0.61 g/t AuEq* over 36.6 meters from surface (0.16 g/t Au and 0.10% Sb) extending mineralization over 400 meters along strike and opening up large, undrilled areas of the Project for further expansion; the mineralization footprint now expands over 800 meters at Resurrection Ridge (see Figure 1, Figure 2) within a larger +5 km strike length between Resurrection Ridge and Cadillac Valley (Figure 3) *Gold equivalents ('AuEq') are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of antimony (~30% discount to current spot prices), and assumed metals recoveries of 85% for gold and 70% for antimony. Drillholes at Resurrection Ridge are drilled with spacing showing strong potential to advance the Project to an initial gold-antimony Mineral Resource Estimate ('MRE') (see Figure 1) Over 20 holes have been released to date; the Company has more than 30 holes with pending results from Resurrection Ridge and Cadillac Valley Metallurgical testwork program has commenced with over 100 kg bulk sample from the Project and NevGold core drilling; results are expected over the coming weeks Resurrection Ridge and Cadillac Valley oxide gold-antimony mineralization demonstrates the significant oxide gold-antimony potential across a large, open mineralized footprint (Figure 1, Figure 4) All areas at the Project with gold-antimony potential are permitted and ready to drill under the Limo Butte Plan of Operations ('PoO') approved in November-2024 (see NevGold News Release from November 27, 2024) Significant antimony (Sb) upside: historical drilling had an upper detection limit of 1% Sb but drill intervals exceeded the limit; these samples are currently being re-assayed at American Assay Lab in Reno, Nevada NevGold will continue re-evaluating historical drilling from the Project, focusing on both oxide gold and antimony Limo Butte Planned 2025 Activities / Status Update NevGold will continue its active exploration program at Limo Butte including: Evaluate the historical geological database with focus on gold and antimony (in progress); Re-analyze historical drilling with focus on gold and antimony (in progress); Metallurgical testwork (in progress); Drill test gold-antimony targets (in planning phase). Figure 1 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole view image please click here Figure 2 – Limousine Butte Gold-Antimony Project cross-section with selected gold-antimony drillhole results. Thin colored discs show Antimony (Sb ppm) in drilling, and wide colored discs show Gold (Au ppm) in drilling. To view image please click here Figure 3 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results at Resurrection Ridge and Cadillac Valley. The total strike length between Resurrection Ridge and Cadillac Valley is + view image please click here NevGold CEO, Brandon Bonifacio, comments: 'These results have some of the highest oxide gold-antimony grades that we have seen to date at Limo Butte. We have also started to expand the mineralization footprint at Resurrection Ridge, with over 800 meters defined, and we still have over 30 holes to release prior to commencing our 2025 drill program. We are continuing to see exceptional oxide gold-antimony results across a large area at the Project, and we will remain focused on adding to the mineralization footprint and filling in some of the gaps in the gold-antimony geological database, with the goal of rapidly advancing Limo Butte to an initial gold-antimony Mineral Resource Estimate ('MRE') in 2025. Our metallurgical testwork program continues to advance to outline the optimal flowsheet to recover the gold and antimony, and we are expecting results over the coming weeks. The environment is optimal to continue to advance and unlock the gold-antimony potential at Limo Butte as there is a clear commitment from the United States to advance high-quality, domestic, mineral projects.' Historical and Re-Assayed Drill Results Hole ID Length, m* g/t Au % Sb g/t AuEq** From, m To, m Resurrection Ridge LIM-46 29.0 3.56 0.13% 4.14 120.4 149.4 including 15.2 6.37 0.15% 7.04 126.5 141.7 LB016 36.6 0.16 0.10% 0.61 0 36.6 LB018*** 74.7 0.45 0.23% 1.47 36.6 111.3 including 18.2 0.92 0.60% 3.59 73.2 91.4 also including 6.0 0.31 0.96% 4.61 73.2 79.2 LB030*** 12.2 0.58 0.32% 2.03 170.7 182.9 LB002*** 25.0 0.07 0.13% 0.67 0.0 25.0 LB21-002*** 64.0 0.72 0.33% 2.19 48.2 112.2 including 24.1 1.47 0.60% 4.17 50.6 74.7 also including 4.5 1.43 2.10% 10.86 67.4 71.9 LB21-003*** 20.1 1.91 0.17% 2.68 62.5 82.6 LB024*** 61.0 0.26 0.18% 1.07 79.3 140.2 LB023*** 67.1 1.30 0.18% 2.11 24.4 91.5 including 30.5 2.79 0.33% 4.29 30.5 61.0 also including 16.8 5.05 0.46% 7.12 42.7 59.4 LB029*** 79.3 0.53 0.14% 1.16 122.0 201.2 including 18.3 0.52 0.30% 1.86 128.0 146.3 LB013*** 49.7 0.15 0.26% 1.29 30.8 80.5 LB21-005*** 79.2 0.22 0.08% 0.56 64.5 143.7 including 8.6 0.59 0.46% 2.66 65.5 74.1 LB006*** 86.9 1.11 0.30% 2.46 36.6 123.4 including 12.8 1.83 0.87% 5.75 79.2 92.0 also including 6.7 2.29 +1%**** 6.77 85.3 92.0 LB001*** 63.9 0.21 0.33% 1.69 13.1 77.0 including 17.7 0.38 0.83% 4.10 55.2 72.8 also including 6.4 0.16 +1%**** 4.64 55.2 61.6 LB003*** 22.3 2.26 0.32% 3.69 67.1 89.3 including 7.9 5.97 0.57% 8.55 81.4 89.3 LB004*** 110.4 0.19 0.12% 0.73 0.0 110.4 including 36.6 0.24 0.21% 1.16 6.7 43.3 LIM-40*** 54.9 1.20 0.64% 4.07 18.3 73.2 including 12.2 2.12 +1%**** 6.60 48.8 61.0 LIM-45*** 36.6 1.23 0.40% 3.02 24.4 61.0 including 12.2 0.35 +1%**** 4.83 36.6 48.8 LIM-48*** 61.0 0.77 0.41% 2.61 24.4 85.4 including 24.4 0.37 0.77% 3.82 48.8 73.2 Hole ID Length, m* g/t Au % Sb g/t AuEq** From, m To, m Cadillac Valley LB22-007*** 169.2 0.89 0.18% 1.70 213.5 382.7 including 54.4 2.26 0.13% 2.85 213.5 267.9 also including 3.10 0.76 2.76% 13.15 259.2 267.9 LB22-006*** 124.7 0.84 0.11% 1.34 127.4 252.1 including 24.3 1.32 0.20% 2.23 160.6 184.9 LB22-019*** 28.9 1.09 0.04% 1.27 170.7 199.6 LB054*** 12.2 0.42 0.08% 0.79 12.2 24.4 *Downhole thickness reported; true width varies depending on drill hole dip and is approximately 70% to 90% of downhole thickness. **The gold equivalents ('AuEq') are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of antimony (~30% discount to current spot prices), and assumed metals recoveries of 85% for gold and 70% for antimony. ***Selected drillholes released in previous News Releases on February 27, 2025, March 26, 2025, April 10, 2025, April 24, 2025, May 13, 2025, and June 3, 2025. **** Historical drilling had an upper detection limit of 1% Sb but many drill intervals exceeded the limit. Limo Butte Geology & Antimony Summary A review of historical geochemical and drilling data at the Limousine Butte Project has identified multiple areas with strong gold-antimony potential. These zones correlate closely with outcrops of the Devonian Pilot Shale, the primary host rock for Carlin-type gold mineralization in the area. Positive gold grade at Limousine Butte is typically associated with silicification and the formation of jasperoid breccias within the Pilot Shale, an alteration feature also observed in the positive antimony results. Through the Project data review, the Company uncovered reports detailing two small-scale historic mining operations at the Nevada Antimony Mine and Lage Antimony Prospect within the Limo Butte Project boundary. The Nevada Antimony Mine featured two prospect pits that extracted stibnite (formula: Sb2S3) from a hydrothermal breccia. The Lage Antimony Prospect reported historical unverified sampling results with up to 14.46% Antimony with additional prospect pits extracting antimony. Historical geochemical rock chip sampling within the past-producing Golden Butte pit from a Brigham Young University ('BYU') Thesis study produced numerous results that exceeded 1% antimony in jasperoid breccias (see Figure 1). Several results were greater than 5% antimony, including a sample of 9.6% antimony with visible stibnite and stibiconite. BYU Thesis Report NevGold VP Exploration, Greg French, comments: 'These results are some of the strongest gold-antimony grades seen at the Project. It is also encouraging to see the mineralization extend along strike to the south where there is little antimony assay drill data, and to the north where there is minimal historical drilling. With our robust understanding of the structures and key mineralization host rocks, these areas will be a focus of our 2025 drilling as we look to expand the oxide gold-antimony mineralization footprint along strike. We are excited to commence our 2025 drill program shortly which will be focused on strengthening our current gold-antimony geological database, along with making new gold-antimony discoveries.' Figure 4 – Limousine Butte Project with historical antimony in rock chips and soils. The total strike length between Resurrection Ridge and Cadillac Valley is +5km. To view image please click here US Executive Order – Announced March 20, 2025 The Company is pleased to report the recent, sweeping Executive Order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply. Antimony (Sb) has been identified as an important 'Critical Mineral' in the United States essential for national security, clean energy, and technology applications, yet no domestically mined supply currently exists. The Executive Order invokes the use of the Defense Production Act as part of a broad United States ('US') Government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the Order states that it will "identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite and issue the relevant permits or approvals." Furthermore, the Order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a "dedicated mineral and mineral production fund for domestic investments" under the Development Finance Corporation ("DFC"). This decisive action by the US Government highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important Order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects. Importance of Antimony Antimony is considered a 'Critical Mineral' by the United States based on the U.S. Geological Survey's 2022 list (U.S.G.S. (2022)). 'Critical Minerals' are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage. Globally, approximately 90% of the world's current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense ('DOD') has designated antimony as a 'Critical Mineral' due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges. Perpetua Resources Corp. ('Perpetua', NASDAQ:PPTA, TSX:PPTA) has the most advanced domestic gold-antimony project in the United States. Perpetua's project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold's Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including the technical development and permitting has led to US$75 million in Department of Defense ('DOD') awards, and over $1.8 billion in indicative financing from the Export Import Bank of the United States ('US EXIM') (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025)) Drillhole Orientation Details Hole ID Target Zone Easting Northing Elevation (m) Length (m) Azimuth Dip LIM-46 RR 667271 4417374 2187 182.9 0 -90 LIM016 RR 666518 4417359 2073 91 0 -90 LB018 RR 666993 4417308 2132 152.4 0 -90 LB030 RR 667143 4417273 2174 193.5 0 -60 LB002 RR 667177 4417244 2192 182.9 82 -50 LB21-002 RR 666979 4417343 2117 151.8 0 90 LB21-003 RR 667061 4417417 2129 183.5 0 90 LB024 RR 667217 4417423 2159 189 70 -80 LB023 RR 667143 4417273 2174 187 70 -60 LB029 RR 667128 4417307 2162 237.7 0 -90 LB013 RR 667142 4417273 2177 164.7 90 -50 LB21-005 RR 667279 4417487 2179 253.8 0 -90 LB006 RR 667030 4417384 2125 152.7 0 -90 LB001 RR 667036 4417384 2125 77 0 -90 LB003 RR 667134 4417528 2133 129.4 0 -90 LB004 RR 667313 4417277 2239 198.7 270 -50 LIM-40 RR 667018 4417409 2124 289.6 0 -90 LIM-45 RR 666929 4417389 2103 179.8 0 -90 LIM-48 RR 666927 4417374 2105 286.5 0 -90 LB22-007 CV 665211 4415453 2031 403.5 254 -86 LB22-006 CV 664692 4414921 2042 379.8 144 -77 LB22-019 CV 664433 4414318 2096 335.3 116 -66 LB054 CV 665323 4415090 2059 157.0 0 -90 Figure 5 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here Engagement of Marketing Consultants The Company has retained Machai Capital Inc. ('Machai Capital'), based in Vancouver, Canada, to provide marketing services including advertising, press release distribution, native advertising of editorial, and additional services as may be determined. Machai Capital will utilize its expertise in branding, content and data optimization, search engine optimization, search engine marketing, lead generation, digital marketing, social media marketing, email marketing, and brand marketing to enhance the Company's marketing campaigns and increase awareness of the Company. The program is budgeted for C$350,000 over a two-month term starting on June 1, 2025. Machai Capital and its principals have an arm's length relationship with the Company. Machai Capital currently owns 50,000 shares of the Company. The Company has also retained Equedia Network Corporation ('Equedia Network'), based in Vancouver, Canada, to provide advertising, press release distribution, native advertising of editorial, and additional services as may be determined. The program will utilize non-generic marketing channels to provide the Company exposure to fresh investment audiences. The advertising program is budgeted for C$150,000 over a six-month term starting on June 1, 2025. Equedia Network and its principals have an arm's length relationship with the Company. Additionally, NevGold announces that it has entered into a digital marketing services agreement with Altura Media Co Inc. ('Altura'), who is based in British Columbia, for an initial three-month period expected to commence on June 9, 2025. Under the agreement, Altura will provide a comprehensive suite of services, including digital advertising, media creation, social media marketing and shareholder communications. In consideration of its services, the Company will pay Altura Media a fee of up to C$150,000. Altura and its principals have an arm's length relationship with the Company. ON BEHALF OF THE BOARD 'Signed' Brandon Bonifacio, President & CEO For further information, please contact Brandon Bonifacio at bbonifacio@ call 604-337-4997, or visit our website at Historical Data Validation NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. A 30g gold fire assay and multi-elemental analysis ICP-OES method was completed by ISO 17025 certified American Assay Labs, Reno. The Company's Qualified Person ('QP'), Greg French, Vice President, Exploration has completed a review of the historical data in this press release. The historic data collection chain of custody procedures and analytical results by previous operators appear adequate and were completed to industry standard practices. For the Newmont and US Gold data a 30g gold fire assay and multi-elemental analysis ICP-OES method MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada. Geochemical ICP (5g) analysis for the Wilson, Christianson and Tingey report was completed by Geochemical Services Inc. and the XRF analyses (glass disk or pellets) by Brigham Young University. Technical information contained in this news release has been reviewed and approved by Greg French, CPG, the Company's Vice President, Exploration, who is NevGold's Qualified Person under National Instrument 43-101 and responsible for technical matters of this release. About the Company NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking Statements This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'suggest', 'indicate' and other similar words or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, and the exploration potential at Limousine Butte. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. References Blackmon, D. (2021) Antimony: The Most Important Mineral You Never Heard Of. Article Prepared by Forbes. Kurtenbach, E. (2024) China Bans Exports to US of Gallium, Germanium, Antimony in response to Chip Sanctions. Article Prepared by AP News. Lv, A. and Munroe, T. (2024) China Bans Export of Critical Minerals to US as Trade Tensions Escalate. Article Prepared by Reuters. Lv, A. and Jackson, L. (2025) China's Curbs on Exports of Strategic Minerals. Article Prepared by Reuters. Perpetua Resources. (2025) Antimony Summary. Articles and Videos Prepared by Perpetua Resources. Sangine, E. (2022) U.S. Geological Survey, Mineral Commodity Summaries, January 2023. Antimony Summary Report prepared by U.S.G.S U.S.G.S. (2022) U.S. Geological Survey Releases 2022 List of Critical Minerals. Reported Prepared by U.S.G.S Wilson, D.,J., Christiansen, E., H., and Tingey, D., G., 1994, Geology and Geochemistry of the Golden Butte Mine- A Small Carlin- Type Gold Deposit in Eastern Nevada: Brigham Young University Geology Studies, v.40, P.185-211. BYU V.40 P.185-211. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Targa Resources Corp. Prices $1.5 Billion Offering of Senior Notes
HOUSTON, June 04, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. ('Targa' or the 'Company') (NYSE: TRGP) announced today the pricing of an underwritten public offering (the 'Offering') of $750 million aggregate principal amount of its 4.900% Senior Notes due 2030 and $750 million aggregate principal amount of its 5.650% Senior Notes due 2036 at a price to the public of 99.870% and 99.700% of their face value, respectively. The Offering is expected to close on June 18, 2025, subject to the satisfaction of customary closing conditions. The Company expects to use a portion of the net proceeds from the Offering to redeem the 6.500% Senior Notes due 2027 (the '2027 Notes') issued by Targa Resources Partners LP and to use the remaining net proceeds for general corporate purposes, including to repay borrowings under its unsecured commercial paper note program, to repay other indebtedness, to repurchase or redeem securities or to fund capital expenditures, additions to working capital or investments in its subsidiaries. This Offering is being made pursuant to an effective shelf registration statement and prospectus filed by the Company with the U.S. Securities and Exchange Commission (the 'SEC') and may be made only by means of a prospectus and prospectus supplement related to such Offering meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the 'Securities Act'). This announcement shall not constitute an offer to sell or a solicitation of an offer to buy any of these securities, except as required by law. About Targa Resources Corp. Targa Resources Corp. (NYSE: TRGP) is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. The Company owns, operates, acquires, and develops a diversified portfolio of complementary domestic infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company's assets connect natural gas and natural gas liquids ('NGL(s)') to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to liquified petroleum gas exporters; and gathering, storing, terminaling, and purchasing and selling crude oil. The principal executive offices of Targa Resources Corp. are located at 811 Louisiana, Suite 2100, Houston, TX 77002 and its telephone number is 713-584-1000. Forward-Looking Statements Certain statements in this release are 'forward-looking statements' within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including the expected closing date and use of proceeds from the Offering, such as the redemption of the 2027 Notes. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company's control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, those described more fully in the Company's filings with the SEC, including its most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Targa Investor RelationsInvestorRelations@ 584-1133Error 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
