Latest news with #CriticalMinerals
Yahoo
4 days ago
- Business
- Yahoo
Cobalt Blue to supply cobalt hydroxide to Glencore's Kwinana Refinery in Australia
Cobalt Blue Holdings has signed a contract to supply up to 50% of the feedstock requirements for Glencore International's Kwinana Cobalt Refinery (KCR). The refinery will be situated on Iwatani Australia's property in the Kwinana-Rockingham industrial precinct, offering logistical advantages due to its proximity to Fremantle port. The feedstock agreement, which spans three years, will commence with the start-up of KCR's commercial operations. The contract stipulates a minimum supply of 3,750 tonnes (t) of cobalt hydroxide over its term, with pricing linked to Fastmarkets' indices. Payments will be made in US dollars, and the terms of performance and termination rights align with standard industry practices. The feedstock for KCR will come from Glencore's operations in the Democratic Republic of Congo, the world's largest cobalt supplier. Despite Cobalt Blue's preference for Australian cobalt hydroxide, market dynamics have led to the exploration of international sources to meet the refinery's needs. Cobalt Blue CEO Andrew Tong said: 'We are thrilled to formalise a relationship with Glencore. Locking in at least 50% of KCR's feedstock requirements is a significant step in derisking the project that brings us closer to FID [final investment decision]. 'Developing a commercial partnership with one of the world's largest diversified miners helps solidify COB's [Cobalt Blue Holdings] position as a participant in the global cobalt industry. This relationship will also enable COB to play a strategically important role in building new battery and critical minerals supply chains among like-minded countries.' The KCR project, developed in partnership with Iwatani Australia, aims to be Australia's first cobalt sulphate refinery, contributing to the country's Critical Minerals Strategy. It is designed to produce battery-grade cobalt sulphate for the precursor cathode active material industry and cobalt metal for industrial and defence applications. Cobalt Blue and Iwatani Australia signed a pre-FID consortium deed to advance the project towards an FID by 31 December 2025. Cobalt Blue's Broken Hill Technology Centre has been piloting the KCR flowsheet since early 2024. The company has engaged Tetra Tech for engineering works and Green Values for permit applications in Western Australia. "Cobalt Blue to supply cobalt hydroxide to Glencore's Kwinana Refinery in Australia" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
BBC News
23-05-2025
- Business
- BBC News
Minister visits Cornish mines ahead of minerals strategy
The minister for industry has visited mining sites across Cornwall ahead of the government's upcoming strategy on minerals. The Critical Minerals Strategy aims to create a secure domestic supply chain of minerals like graphite and tin, which are used in the production of electronics like mobile phones. Industry Minister Sarah Jones said the purpose of visiting sites including Cornwall's South Crofty Tin Mine and Camborne School of Mines was to "really understand what the need is"."There is huge potential here, we know that government has a role, we need to work out what the role is going forward," she said. The need for critical minerals will be four times higher by 2040 due to their use in clean energy technologies, according to the policy paper for the strategy. The paper describes the current supply chain of minerals to the UK as complex, volatile and dominated by China. "In a changing world, it's never been so important to have strong supplies of critical minerals. Without them we can't have renewable energy, AI or a thriving car sector," said Jones. "That's why we're working with industry to develop a landmark Critical Minerals Strategy that will support the industries of tomorrow and deliver for business."She added: "Seeing Cornwall's thriving mining cluster was vital to help me develop the new strategy which will deliver good jobs and a stronger economy." At Camborne School of Mines, Jones met representatives from the University of Exeter to discuss the skills needed to support the strategy. Prof of Applied Mineralogy Frances Wall said she wanted to know the government targets and how they would be funded. "If you want to be able to mine, to refine, use the metals and to recycle them and keep them in circulation, that will need some intervention in most cases from government," she said. "The bottom line eventually, it will mean money as well as good will." The government invested £28.6m in Cornwall's South Crofty Tin Mine in January as part of a £56m fundraising bid by its owners Cornish Metals to begin production within three years. Chief executive of Cornish Metals, Don Turvey, said going forward it needed continued support. "We already have the permits in place to build the mine," he said. "So from that perspective, if one wants to keep the tin in the country, that's a different discussion."The government's Critical Mineral Strategy is due to be published later this year.
Business Recorder
20-05-2025
- Business
- Business Recorder
Reforms and boost export-led growth: Pakistan committed to leveraging private sector: Aurangzeb
ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said that the government is committed to leveraging private sector expertise to fast-track structural reforms and promote productivity and export-led economic growth. Senator Muhammad Aurangzeb said this while having a meeting on Monday with a high-level delegation from Deloitte, led by Richard Longstaff, Managing Director and Head of Energy, Critical Minerals, and Sofyan Yusufi, Partner at Deloitte Risk and Financial Advisory Government and Public Services. The meeting was a follow-up to earlier discussions held on the sidelines of the IMF/ World Bank Spring Meetings 2025 in Washington DC, where avenues for collaboration in critical minerals, energy sector reforms, privatization, and the operationalisation of the Country Partnership Framework (CPF) were explored. Welcoming the Deloitte team to Pakistan, the Finance Minister appreciated their continued engagement and interest in supporting Pakistan's development priorities. He The meeting focused on the operationalisation of the CPF and leveraging Deloitte's technical advisory and global experience for Pakistan's ongoing initiatives, which should be outcome based and standardised, streamlined project development in different sectors, including health, climate, energy, mining and minerals and the public-private initiatives. The delegation apprised the Minister of their upcoming meetings with key stakeholders, including officials from the World Bank (WB), Asian Development Bank (ADB), and the Economic Affairs Division (EAD). The Finance Minister shared insights from his recent meeting with World Bank President Ajay Banga, highlighting Pakistan's commitment to responsible and transparent utilisation of financing. He reaffirmed that the government is focused on two overarching national priorities climate resilience and population management both of which are being supported through significant funding, including the recently approved Resilience and Sustainability Facility (RSF) of $1.3 billion. 'At this stage of our reform journey, what Pakistan needs is not financing, it is strategic, tactical support and global expertise from our bilateral and multilateral partners,' remarked the Minister. The meeting also included an in-depth discussion on structuring future collaboration and defining key priority areas where Deloitte's assistance could be instrumental. The Deloitte team expressed strong appreciation for the positive economic indicators emerging from Pakistan and reiterated their commitment to working closely with the Government of Pakistan to support its reform and development agenda. The meeting concluded with both sides agreeing to maintain close coordination in the weeks ahead and to work jointly on identifying actionable, high-impact, outcome based initiatives that align with Pakistan's economic development and transformation vision. Copyright Business Recorder, 2025
Business Recorder
20-05-2025
- Business
- Business Recorder
Reforms and boost export-led growth: Govt committed to leveraging private sector: Aurangzeb
ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said that the government is committed to leveraging private sector expertise to fast-track structural reforms and promote productivity and export-led economic growth. Senator Muhammad Aurangzeb said this while having a meeting on Monday with a high-level delegation from Deloitte, led by Richard Longstaff, Managing Director and Head of Energy, Critical Minerals, and Sofyan Yusufi, Partner at Deloitte Risk and Financial Advisory Government and Public Services. The meeting was a follow-up to earlier discussions held on the sidelines of the IMF/ World Bank Spring Meetings 2025 in Washington DC, where avenues for collaboration in critical minerals, energy sector reforms, privatization, and the operationalisation of the Country Partnership Framework (CPF) were explored. Welcoming the Deloitte team to Pakistan, the Finance Minister appreciated their continued engagement and interest in supporting Pakistan's development priorities. He The meeting focused on the operationalisation of the CPF and leveraging Deloitte's technical advisory and global experience for Pakistan's ongoing initiatives, which should be outcome based and standardised, streamlined project development in different sectors, including health, climate, energy, mining and minerals and the public-private initiatives. The delegation apprised the Minister of their upcoming meetings with key stakeholders, including officials from the World Bank (WB), Asian Development Bank (ADB), and the Economic Affairs Division (EAD). The Finance Minister shared insights from his recent meeting with World Bank President Ajay Banga, highlighting Pakistan's commitment to responsible and transparent utilisation of financing. He reaffirmed that the government is focused on two overarching national priorities climate resilience and population management both of which are being supported through significant funding, including the recently approved Resilience and Sustainability Facility (RSF) of $1.3 billion. 'At this stage of our reform journey, what Pakistan needs is not financing, it is strategic, tactical support and global expertise from our bilateral and multilateral partners,' remarked the Minister. The meeting also included an in-depth discussion on structuring future collaboration and defining key priority areas where Deloitte's assistance could be instrumental. The Deloitte team expressed strong appreciation for the positive economic indicators emerging from Pakistan and reiterated their commitment to working closely with the Government of Pakistan to support its reform and development agenda. The meeting concluded with both sides agreeing to maintain close coordination in the weeks ahead and to work jointly on identifying actionable, high-impact, outcome based initiatives that align with Pakistan's economic development and transformation vision. Copyright Business Recorder, 2025
Zawya
16-05-2025
- Business
- Zawya
South Africa: Cabinet gives Critical Minerals Strategy the green light
Cabinet has approved the Critical Minerals Strategy. This is according to the Minister in the Presidency, Khumbudzo Ntshavheni, at a post-Cabinet media briefing in Pretoria on Thursday, 15 May. Source: © 123rf 123rf Cabinet has approved the Critical Minerals Strategy Critical minerals are key components in renewable energy technologies, which South Africa has in abundance. 'This strategy aims to maximise the country's potential in the global market of critical minerals, particularly those crucial for the country's just energy transition plan and the ones the country holds a comparative advantage. These include PGMs, lithium, cobalt and rare earth elements, which are vital for technologies like electric vehicles, renewable energy and other green initiatives. 'Key pillars of the strategy focus on exploration and beneficiation; investment; localisation; streamlining regulations, fostering innovation in mining technologies; building workforce skills; improving transport and logistics infrastructure, and incentivising investment. 'The strategy further recognises the importance of collaboration with other countries to develop the potential of South Africa's critical minerals sector,' Ntshavheni says. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
