Carbon Upcycling and TITAN Group Forge Strategic Partnership to Develop Low-Carbon Construction Materials
The MOA outlines plans for Carbon Upcycling to conduct technical feasibility studies at two TITAN cement plants, with the goal of implementing its technology to produce high-performing, low-carbon supplementary cementitious products by utilizing and upcycling captured CO₂ emissions and abundantly available local materials. These CO₂-enhanced cementitious products are expected to strengthen construction supply chains and significantly reduce the carbon footprint of cement production.
" Our partnership with TITAN Group represents the necessary collaboration to advance the global cement industry towards a circular, low-carbon future," said Apoorv Sinha, CEO of Carbon Upcycling. " Globally, we are seeing increasingly complex supply chains. Carbon Upcycling is transforming this reality by localizing critical cementitious material production so we can continue to build what matters most."
" Expanding the scope of our partnership with Carbon Upcycling from investment to project exploration aims to scale up the production of innovative, high-performance cementitious solutions in line with our Green Growth Strategy 2026," said Leonidas Canellopoulos, Chief Sustainability & Innovation Officer of TITAN Group."This initiative not only highlights the importance of localized production but also serves as an important model for integrating low-carbon solutions into mainstream industrial processes. Through this collaboration, TITAN and Carbon Upcycling are setting a precedent for how strategic alliances can drive meaningful change in the built environment."
Carbon Upcycling's demonstration plant is currently operating in Western Canada, with its CO2-enhanced cement products commercially deployed across the built environment. The company is now developing its flagship commercial-scale project in Eastern Canada.
TITAN Group has set CO₂ reduction targets across Scopes 1, 2, and 3, validated by the Science Based Targets initiative (SBTi) toward net zero by 2050. TITAN's roadmap includes concrete actions to lower the carbon footprint of its operations and products. TITAN Group aims to double its sales of low-carbon products by 2026 compared to 2022. Learn more about TITAN's journey to net zero at: www.titanmaterials.com/net-zero
About Carbon Upcycling
Carbon Upcycling is a carbon and waste utilization company securing critical cement supply chains for the infrastructure of tomorrow. Its technology offers a productive solution for CO₂ emissions and industrial waste materials by upcycling them into low-carbon supplementary cement products. The patented system captures and reduces emissions through carbon capture and abatement while fostering localized, circular supply chains.
Carbon Upcycling is backed by a syndicate of strategic investors, including the Business Development Bank of Canada, Climate Investment, Oxy Low-Carbon Ventures, and Clean Energy Ventures, as well as three of the world's leading cement manufacturers: CRH, Cemex, and TITAN Group. Learn more at carbonupcycling.com.
About TITAN Group
TITAN Group is a leading international business in the building and infrastructure materials industry, with passionate teams committed to providing innovative solutions for a better world. With most of its activity in the developed markets, the Group employs over 5,700 people and is present in over 25 countries, holding prominent positions in the US, Europe, including Greece, the Balkans, and the Eastern Mediterranean. The Group also has joint ventures in Brazil and India. With a 120-year history, TITAN has always fostered a family-and entrepreneurial-oriented culture for its employees and works tirelessly with its customers to meet the modern needs of society while promoting sustainable growth with responsibility and integrity. TITAN has set a net-zero goal for 2050 and has its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi).
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Toronto Star
a day ago
- Toronto Star
Titan Mining Delivers Strong Q2 Results; On Track to Commission First Integrated U.S. Graphite Facility in 2025
GOUVERNEUR, N.Y. and VANCOUVER, British Columbia, Aug. 12, 2025 (GLOBE NEWSWIRE) — Titan Mining Corporation (TSX: TI; OTCQB: TIMCF) ('Titan' or the 'Company') today announced its financial and operating results for the quarter ended June 30, 2025. The Company met quarterly production guidance at its Empire State Mines LLC ('ESM') and is on track to be the first end to end producer of natural flake graphite in the United States by Q4 2025. Q2 25 HIGHLIGHTS: (1) Payable zinc production of 15.5 million pounds, up 7% from Q2 2024 Revenues of $16.3 million, C1 cash costs and AISC of $0.90/lb Cash flow from operations of $2.4 million Reduction in net debt by 21% from Q2 2024 Cash balance of $8.1 million at quarter end EXIM Bank financing secured for $15.8 million, the first direct mining loan under its Make More in America Initiative (2) Strong safety performance, with an injury frequency rate well below the U.S. national average Over 40,000 acres of mineral rights added through lease and option to lease agreements with St. Lawrence County in May 2025. This expands the Company's mineral tenure to over 120,000 acres in upstate New York and increases the discovery opportunities for additional zinc and graphite resources as well as iron-oxide copper gold deposits Graphite processing facility construction underway at ESM site; over 50% of major equipment delivered Expected commissioning in Q4 2025, making Titan the first integrated producer of natural flake graphite in the U.S. in over 70 years. (1) All amounts disclosed in this news release are in U.S. dollars unless otherwise stated. (2) The EXIM Bank Financing was completed on July 21, 2025, subsequent to end of Q2 2025. ARTICLE CONTINUES BELOW Don Taylor, Chief Executive Officer of Titan, commented, ' Our Q2 performance reflects consistent execution at ESM, with strong production, start-up of the N2D zone and continued cost control. Importantly, our graphite project has moved from concept to construction, supported by public and private sector backing. Titan is building the foundation to become a multi-commodity, integrated supplier of critical minerals to the U.S. economy'. Rita Adiani, President of Titan commented: ' Titan is executing a unique dual-commodity strategy. Our zinc operations continue to generate cash flow, while the Kilbourne graphite first phase processing facility is rapidly progressing toward commissioning. With strong government support and tangible progress on-site, we're positioning Titan as a future-facing, U.S.-based supplier of both industrial and critical minerals'. TABLE 1 Financial and Operating Highlights Note: The sum of the quarters in the table above may not equal the year-to-date amounts disclosed elsewhere due to rounding. 1 C1 Cash Cost, All-In Sustaining Cost ('AISC') and Net Debt are non-GAAP measures. Accordingly, these financial measures are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. These financial measures have been calculated on a basis consistent with historical periods. Information explaining these non-GAAP measures is provided below under 'Non-GAAP Performance Measures'. ZINC OPERATIONS REVIEW Mining during the quarter continued in the Mahler, New Fold, and Mud Pond zones at the #4 mine, with additional production initiated from the N2D zone for the first time since May 2023. High-grade ore from the Lower Mahler zone supported above-budget output. N2D production is ramping from 250 to 500 tons per day in Q3. GRAPHITE UPDATE Construction of the Kilbourne graphite demonstration plant is advancing, with over half of major equipment being delivered and site installation underway. Commissioning is on track for Q4 2025. Once operational, the facility will be the first to produce natural flake graphite end-to-end in the U.S. in over 70 years. Technical studies for the project are underway. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW EXPLORATION UPDATE The Company added additional 43,942 acres of mineral rights added through lease and option to lease agreements with St. Lawrence County in May of 2025 (See press release dated May 8th, 2025 'Titan Mining Signs Cooperative Agreements with St. Lawrence County, Expands Mineral Tenure to Greater Than 120,000 acres in Upstate New York'). Titan continues to evaluate the potential of the district for base, industrial, and precious metals. Multiple areas with historically documented graphite mineralization have been identified, with confirmed graphite mineralization within the ESM mineral tenure. The St. Lawrence County agreement has added the Parish Magnetite prospect to the Company's target list, a possible Iron Oxide Copper Gold (IOCG) occurrence in the historic Adirondack Magnetite Belt. Underground drill programs in the second quarter of 2025 targeted Mahler, New Fold, N2D and Mud Pond. Underground drilling totaled 21 drill holes and 8,894ft (2,710 m). All underground drilling was completed with Company-owned underground drills by Company employees. Drilling continues to hit mineralization at anticipated grades outside of the existing life of mine model signifying mine life expansion potential. Surface drilling continued with Company drills in the second quarter with drilling at Pleasant Valley and Pork Creek for a total of 3,154ft (961.3m). Drilling for 2025 is expected to continue at previously outlined targets including Parish. Quality Assurance and Quality Control Core drilling was completed using ESM owned and operated drills which produced AWJ (1.374 in) size drill core. All core was logged by ESM employees. The core was washed, logged, photographed, and sampled. All core samples were cut in half, lengthwise, using a diamond saw with a diamond-impregnated blade and sampled on 5 ft intervals with adjustments made to match geological contacts. After a sample is cut, one half of the core was returned to the original core box for reference and long-term storage. The second half was placed in a plastic or cloth sample bag, labeled with the corresponding sample identification number, along with a sample tag. All sample bags were secured with staples or a draw string, weighed and packed in shipping boxes. Shipping boxes are placed on pallets and shipped by freight to ALS Geochemistry ('ALS'), an independent ISO/IEC accredited lab located in Sudbury, Ontario, Canada. ALS prepares a pulp of all samples and sends the pulps to their analytical laboratory in Vancouver, B.C., Canada, for analysis. ALS analyzes the pulp sample by an aqua regia digestion (ME-ICP41 for 35 elements) with an ICP – AES finish including Cu (copper), Pb (lead), and Zn (zinc). All samples in which Cu (copper), Pb (lead), or Zn (zinc) are greater than 10,000 ppm are re-run using aqua regia digestion (Cu-OG46; Pb-OG46; and Zn-OG46) with the elements reported in percentage (%). Silver values are determined by an aqua regia digestion with an ICP-AES finish (ME-ICP41) with all samples with silver values greater than 100 ppm repeated using an aqua regia digestion overlimit method (Ag-OG46) calibrated for higher levels of silver contained. Gold values are determined by a 30 g fire assay with an ICP-AES finish (Au-ICP21). Mr. Taylor has a fulsome staff of experts on-site that thoroughly review and verify ESM technical data on a regular basis, as described above. For this reason, Mr. Taylor has relied entirely on such verification procedures for verifying the scientific and technical data in this news release. Mr. Taylor has not identified any legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources disclosed herein. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Donald R. Taylor, MSc., PG, Chief Executive Officer of the Company. Mr. Taylor is a qualified person for the purposes of NI 43-101. Mr. Taylor has more than 25 years of mineral exploration and mining experience and is a Registered Professional Geologist through the SME (Registered Member #4029597). Non-GAAP Performance Measures This document includes non-GAAP performance measures, discussed below, that do not have a standardized meaning prescribed by IFRS. The performance measures may not be comparable to similar measures reported by other issuers. The Company believes that these performance measures are commonly used by certain investors, in conjunction with conventional GAAP measures, to enhance their understanding of the Company's performance. The Company uses these performance measures extensively in internal decision-making processes, including to assess how well the Empire State Mine is performing and to assist in the assessment of the overall efficiency and effectiveness of the mine site management team. The tables below provide a reconciliation of these non-GAAP measures to the most directly comparable IFRS measures as contained within the Company's issued financial statements. C1 Cash Cost Per Payable Pound Sold C1 cash cost is a non-GAAP measure. C1 cash cost represents the cash cost incurred at each processing stage, from mining through to recoverable metal delivered to customers, including mine site operating and general and administrative costs, freight, treatment and refining charges. The C1 cash cost per payable pound sold is calculated by dividing the total C1 cash costs by payable pounds of metal sold. All-in Sustaining Costs AISC measures the estimated cash costs to produce a pound of payable zinc plus the estimated capital sustaining costs to maintain the mine and mill. This measure includes the C1 cash cost and capital sustaining costs divided by pounds of payable zinc sold. AISC does not include depreciation, depletion, amortization, reclamation and exploration expenses. Net Debt Net debt is calculated as the sum of the current and non-current portions of long-term debt, net of the cash and cash equivalent balance as at the balance sheet date. A reconciliation of net debt is provided below. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW On July 21, 2025, subsequent to the end of Q2 2025, the Company restructured a $16.5 million dollar loan due to a related party. The loan has an approximate three-year term at 8% per annum. Approximately $9 million of the loan has been reclassified as non-current debt, thereby improving the Company's working capital position significantly. About Titan Mining Corporation Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York state. Titan's goal is to deliver shareholder value through operational excellence, development and exploration. We have a strong commitment towards developing critical minerals assets which enhance the security of the domestic supply chain. For more information on the Company, please visit our website at Contact For further information, please contact: Investor Relations: Email: info@ Cautionary Note Regarding Forward-Looking Information Certain statements and information contained in this new release constitute 'forward-looking statements', and 'forward-looking information' within the meaning of applicable securities laws (collectively, 'forward-looking statements'). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including that Titan is on track to commission the first integrated US graphite facility in 2025; expected commissioning in Q4 2025, making Titan the first integrated producer of natural flake graphite in the U.S. in over 70 years; Titan is building the foundation to become a multi-commodity, integrated supplier of critical minerals to the U.S. economy; the Kilbourne graphite first phase processing facility is rapidly progressing toward commissioning; we're positioning Titan as a future-facing, U.S.-based supplier of both industrial and critical minerals; high-grade ore from the Lower Mahler zone supported above-budget output; N2D production is ramping from 250 to 500 tons per day in Q3; drilling continues to hit mineralization at anticipated grades outside of the existing life of mine model signifying mine life expansion potential; drilling for 2025 is expected to continue at previously outlined targets including Parish. When used in this news release words such as 'to be', 'will', 'planned', 'expected', 'potential', and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including risks related to general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations being different than modelled; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labor, infrastructure, operating and production costs in respect of both the Company's zinc and graphite operations; future prices of zinc, graphite and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated in respect of both the Company's zinc and graphite operations; delays in completion of exploration, development or construction activities in respect of both the Company's zinc and graphite operations; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled 'Risks Factors' in the Company's most recent annual information form filed on SEDAR+. Such forward-looking statements are based on various assumptions, including assumptions made with regard to our forecasts and expected cash flows; our projected capital and operating costs in respect of both the Company's zinc and graphite operations; our expectations regarding mining and metallurgical recoveries in respect of both the Company's zinc and graphite operations; mine life and production rates in respect of both the Company's zinc and graphite operations; that laws or regulations impacting mining activities will remain consistent; our approved business plans; our mineral resource estimates and results of the PEA; our experience with regulators; political and social support of the mining industry in New York State; our experience and knowledge of the New York State mining industry and our expectations of economic conditions and the price of zinc and graphite; demand for graphite; exploration results; the ability to secure adequate financing (as needed); the Company maintaining its current strategy and objectives; and the Company's ability to achieve its growth objectives. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
Globe and Mail
6 days ago
- Globe and Mail
Cushman & Wakefield Announces Renewed Science-Based Greenhouse Gas Emissions Reduction Targets
Cushman & Wakefield (NYSE: CWK), a leading global commercial real estate services firm, today announced renewed science-based greenhouse gas (GHG) emissions reduction targets that raise the bar on climate ambition across its operations and the client properties it manages worldwide. The updated targets introduce higher emissions reduction objectives and a refined methodology for addressing the Scope 3 emissions that make up the vast majority of its value chain footprint. Cushman & Wakefield Operations: Reduce absolute Scope 1 and 2 GHG emissions across Cushman & Wakefield corporate offices and operations by 73.1% by 2034. This target reflects an increase in ambition following strong progress toward the firm's original 50% reduction goal that was set for 2030. Managed Client Properties: Reduce Scope 3 GHG emissions by 66.3% per square foot of managed area for clients by 2034. This new intensity‑based target replaces the firm's previous Scope 3 client engagement commitment with a more robust emissions‑intensity metric aligned to the performance of properties the firm manages on its clients' behalf which are within Cushman & Wakefield's operational control boundary. Net-Zero Value Chain: Maintain commitment to reach net‑zero emissions across the entire value chain (Scopes 1, 2 and 3) by 2050 in line with the Science Based Targets initiative (SBTi) Corporate Net‑Zero Standard. 'Since first setting science‑based targets in 2021, we've worked hard to reduce our own operational footprint and help clients decarbonize the buildings they own and occupy,' said Jessica Francisco, Cushman & Wakefield's Chief Sustainability Officer. 'With these renewed targets, we are reaffirming our progress to date and our intent to go further, faster.' Cushman & Wakefield established its first near‑term, SBTi‑approved targets in September 2021 and, in July 2022, became one of the first companies to have a net‑zero target approved under the SBTi's Corporate Net‑Zero Standard. In the years since, the firm has continued to invest in data management improvements, renewable electricity procurement and partnering with clients to deliver shared, sustainable value. These efforts, among others, have informed the firm's decision to commit to the next generation of targets. The firm intends to report annually on progress toward its 2034 targets through its annual Sustainability Report, in addition to other voluntary and regulatory disclosures, as applicable. Cushman & Wakefield believes these targets are important in the global effort to mitigate the adverse impacts of climate change and will assess them as necessary, based on SBTi guidelines and the evolution of the firm's strategy. 'Our clients are asking for data‑driven pathways to net zero. By expanding our Scope 3 target from an engagement metric to an emissions intensity target, we're aligning our services and accountability with what matters most—real decarbonization in the built environment,' said Francisco. Learn more about sustainability at Cushman & Wakefield and read the firm's recently published 2024 Sustainability Report here. About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit
05-08-2025
U.S. Coast Guard releases report on OceanGate, 2 years after fatal Titan implosion
The United States Coast Guard Marine Board of Investigation has released its final report on the company responsible for operating the Titan submersible, which imploded two years ago while attempting to dive to the wreckage of the Titanic, killing all five people on board. The report, released on Tuesday, says the board found OceanGate didn't follow engineering protocols for safety, testing or vessel maintenance. The 335-page document also highlighted problems with how the business operated, its workplace culture and the need to improve regulatory oversight for manned submersibles and vessels of novel design. For several years preceding the incident, OceanGate leveraged intimidation tactics, allowances for scientific operations and the company's favourable reputation to evade regulatory scrutiny, the report reads. By strategically creating and exploiting regulatory confusion and oversight challenges, OceanGate was ultimately able to operate Titan completely outside of the established deep-sea protocols, which had historically contributed to a strong safety record for commercial submersibles. The event prompted an international search and rescue operation, after the Titan lost contact with its support vessel the Polar Prince on June 18, 2023. It was eventually determined the vessel's hull lost structural integrity and imploded, killing the crew which included OceanGate CEO Stockton Rush, British billionaire explorer Hamish Harding, father and son Shahzada and Suleman Dawood and renowned Titanic researcher Paul-Henri Nargeolet. This marine casualty and the loss of five lives was preventable, said Jason Neubauer, Titan MBI chair, in a press release. The two-year investigation has identified multiple contributing factors that led to this tragedy, providing valuable lessons learned to prevent a future occurrence. There is a need for stronger oversight and clear options for operators who are exploring new concepts outside of the existing regulatory framework. 'Critically flawed' The primary causal factors for the tragedy were the company failing to address engineering issues, reads the MBI report, and a lack of understanding of how the hull of the vessel would react to the inherently hazardous environment. The company also continued to use the Titan after several incidents that compromised the hull's integrity. Enlarge image (new window) OceanGate CEO Stockton Rush, top left, British billionaire Hamish Harding, top right, French explorer Paul-Henri Nargeolet, bottom left, and Pakistani businessman Shahzada Dawood with his son Suleman, were on board the Titan submersible when it imploded. Photo: Shannon Stapleton/Reuters, Jannicke Mikkelsen/Reuters, HarperCollins France/Reuters, Engro Corp./Reuters The report also listed contributing factors, like OceanGate's critically flawed safety culture and operational practices. At the core of these failures were glaring disparities between their written safety protocols and their actual practices, the report reads. OceanGate's chief executive officer's sustained efforts to misrepresent Titan as indestructible due to unconfirmed safety margins and alleged conformance with advanced engineering principles provided a false sense of safety for passengers and regulators. The U.S. Coast Guard said there was a missed opportunity on the government's part to intervene before the tragedy, pointing to a 2018 OceanGate whistle-blower as well as deficient communication between Occupational Safety and Health Administration and the U.S. Coast Guard on Seaman's Protection Act protocols. Early intervention may have resulted in OceanGate pursuing regulatory compliance or abandoning their plans for Titanic expeditions, it said. Ultimately, the report made 17 recommendations, including establishing an industry working group to review and update the framework to help submersibles achieve safety standards similar to those of surface vessels. The report also said the U.S. Coast Guard should push for expanded federal requirements so there would be proper regulatory oversight for the types of submersibles carrying out oceanographic research operations. Another recommendation calls for required communication on all submarines and submersibles that conduct commercial or scientific operations, and a new requirement for submersible owners to give notification to local U.S. Coast Guard officers, which would include a dive plan and an emergency response plan.
