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Reuters
20-05-2025
- Business
- Reuters
Battery maker Clarios views sites for $1 bln critical minerals plant in US
May 20 (Reuters) - Clarios, a battery maker owned by global investment firm Brookfield, is scouting locations for an up to $1 billion critical minerals processing and recovery plant in the U.S. and sites in three states are in contention, it said on Tuesday. The plan, enabled by recent executive orders and using federal advanced manufacturing tax credits, is part of the car battery maker's strategy to enhance the domestic U.S. supply of critical minerals, Clarios said in a statement. It has completed preliminary site assessments and is engaging Indiana, Texas and Utah as possible locations for investment. "We're excited to announce the next step in our strategy to increase our investment in the United States," said Clarios CEO Mark Wallace. The plant will extract antimony and other critical minerals from recycled materials. Antimony, crucial to the production of ammunition, night vision goggles, infrared sensors and precision optics, is in a shortage outside China after China imposed export controls, opens new tab on it and other elements in September. That has fuelled a surge in global prices for the strategic metal. "The administration has emphasized the importance of these minerals for national security and economic growth, as highlighted in recent executive orders aimed at increasing supply and reducing dependence on foreign sources," it said. "By investing in critical mineral processing and recovery, Clarios is supporting these national security priorities and contributing to the resilience of the U.S. supply chain." Clarios in January withdrew its initial public offering plans in the United States.
Yahoo
20-05-2025
- Business
- Yahoo
Battery maker Clarios views sites for $1 billion critical minerals plant in US
(Reuters) - Clarios, a battery maker owned by global investment firm Brookfield, is scouting locations for an up to $1 billion critical minerals processing and recovery plant in the U.S. and sites in three states are in contention, it said on Tuesday. The plan, enabled by recent executive orders and using federal advanced manufacturing tax credits, is part of the car battery maker's strategy to enhance the domestic U.S. supply of critical minerals, Clarios said in a statement. It has completed preliminary site assessments and is engaging Indiana, Texas and Utah as possible locations for investment. "We're excited to announce the next step in our strategy to increase our investment in the United States," said Clarios CEO Mark Wallace. The plant will extract antimony and other critical minerals from recycled materials. Antimony, crucial to the production of ammunition, night vision goggles, infrared sensors and precision optics, is in a shortage outside China after China imposed export controls on it and other elements in September. That has fuelled a surge in global prices for the strategic metal. "The administration has emphasized the importance of these minerals for national security and economic growth, as highlighted in recent executive orders aimed at increasing supply and reducing dependence on foreign sources," it said. "By investing in critical mineral processing and recovery, Clarios is supporting these national security priorities and contributing to the resilience of the U.S. supply chain." Clarios in January withdrew its initial public offering plans in the United States. Sign in to access your portfolio
Yahoo
18-05-2025
- Business
- Yahoo
NJ Transit strike ends after shutting down New Jersey trains for weekend, union says
The strike that idled NJ Transit trains is over after three days, just in time for the Monday commute. The Brotherhood of Locomotive Engineers and Trainmen said Sunday night that after two days of post-strike negotiations they'd reached a deal and 'will return to work and trains will begin running on their regular schedules Monday." The union, known as BLET, was seeking pay comparable to the wages made by engineers at other nearby railroads, including Long Island Rail Road. NJ Transit, which has long had shaky finances, was trying to avoid blowing a hole in its own budget. BLET's general chairman for the NJ Transit union said the union was 'able to show management ways to boost engineers' wages that will help NJT with retention and recruitment, without causing any significant budget issue or requiring a fare increase.' Gov. Phil Murphy and NJ Transit CEO are expected to brief the media on Sunday night. The terms of the agreement were not immediately available, largely because the union's rank and file still need to review and vote on them. In April, BLET's members overwhelmingly rejected a March deal, setting up the strike that began Friday. The new deal was reached with the help of the National Mediation Board, which called both sides back to the table on Sunday. But even before that, the national head of BLET, Mark Wallace, called NJ Transit CEO Kris Kolluri on Friday night to restart talks on Saturday. The strike that began 12:01 a.m. Friday came at a relatively lucky time for the Murphy administration. Fridays are the lightest ridership day and service is expected to resume in time for the Monday rush hour. The last strike to idle trains came in 1983, as NJ Transit was being born as a statewide transit agency. It lasted more than a month. So the quick end is likely to contain the political fallout. One political feature of the strike was how little anyone in Washington seemed to care that one of the nation's largest railroads was going to shut down, idling the trains that carry 100,00 people a day. In 2022, Congress rushed to intervene in a freight rail strike, like it has on several other occasions to delay or prevent disruptions. Wallace praised Congress for staying out of it. 'This should be a lesson for other railroad disputes,' he said in a statement. 'Nothing would have been gained by kicking the can down the road. Allowing strikes to happen encourages settlement rather than stonewalling.' While members of New Jersey's congressional delegation urged both sides back to the table, none of them took to the floor to discuss the issue in recent days, according to a search of the Congressional Record, and no one introduced legislation to avert the strike. Instead, they largely issued blameless statements. Rep. Josh Gottheimer, a New Jersey Democrat running for governor, posted a video of himself on Saturday sitting at a folding table and chairs outside a train station in Bergen County 'until everyone comes to the table to get the trains moving.' The negotiations, which happened on Saturday and wrapped up Sunday, were happening in another county.
Yahoo
17-05-2025
- Business
- Yahoo
Talks aimed at ending New Jersey Transit rail strike to resume Saturday, railroad CEO says
NEWARK, N.J. (AP) — Talks aimed at settling a strike between train engineers and New Jersey's huge commuter railroad will pick up on Saturday and continue Sunday, New Jersey Transit CEO Kris Kolluri said. The locomotive engineers' strike began Friday at the rail system with 350,000 daily riders and left commuters either working from home or searching for other ways to travel across the state or over the Hudson River to New York City. Kolluri spoke Saturday at Newark's Broad Street Station, saying the agency is preparing for the workweek commute by 'surging' buses to help commuters at train stations. But he cautioned that the buses can't handle the entire volume of the commuter rail system. Kolluri said he and Brotherhood of Locomotive Engineers and Trainmen President Mark Wallace spoke and agreed to meet Saturday. It had been uncertain whether the two sides would meet ahead of a National Mediation Board meeting already set for Sunday. 'We're going to meet the union today. We're going to meet them tomorrow, with this goal of getting to a deal so we can get them back to work, get our customers the reliable service they need,' Kolluri said. A message seeking comment Saturday was left with the union. The walkout comes after the latest round of negotiations on Thursday didn't produce an agreement. It is the state's first transit strike in more than 40 years and comes a month after union members overwhelmingly rejected a labor agreement with management. Wallace walked the picket line Friday outside New York City's Penn Station, and said the engineers are committed to staying on strike until they get a fair deal. Union members were nearly unanimous in authorizing a strike last summer, and 87% of them rejected the latest agreement. Wallace said NJ Transit needs to pay engineers a wage that's comparable to Amtrak and Long Island Railroad because engineers are leaving for jobs on those other railroads for better pay, The union has seen steady attrition in its ranks at NJ Transit as more members leave to take better-paying jobs at other railroads. The number of NJ Transit engineers has shrunk from 500 several months ago to about 400. The engineers are responsible for operating trains, ensuring safe and smooth transport between stations, New Jersey Democratic Gov. Phil Murphy said Friday that it is important to 'reach a final deal that is both fair to employees and at the same time affordable to New Jersey's commuters and taxpayers.' NJ Transit is the nation's third-largest transit system and operates buses and rail in the state, providing nearly 1 million weekday trips, including into New York City. The walkout halts all NJ Transit commuter trains, which provide heavily used public transit routes between Penn Station on one side of the Hudson River and communities in northern New Jersey on the other, as well as the Newark airport, which has grappled with unrelated delays of its own recently.
Yahoo
17-05-2025
- Business
- Yahoo
Talks aimed at ending New Jersey Transit rail strike to resume Saturday, railroad CEO says
NEWARK, N.J. (AP) — Talks aimed at settling a strike between train engineers and New Jersey's huge commuter railroad will pick up on Saturday and continue Sunday, New Jersey Transit CEO Kris Kolluri said. The locomotive engineers' strike began Friday at the rail system with 350,000 daily riders and left commuters either working from home or searching for other ways to travel across the state or over the Hudson River to New York City. Kolluri spoke Saturday at Newark's Broad Street Station, saying the agency is preparing for the workweek commute by 'surging' buses to help commuters at train stations. But he cautioned that the buses can't handle the entire volume of the commuter rail system. Kolluri said he and Brotherhood of Locomotive Engineers and Trainmen President Mark Wallace spoke and agreed to meet Saturday. It had been uncertain whether the two sides would meet ahead of a National Mediation Board meeting already set for Sunday. 'We're going to meet the union today. We're going to meet them tomorrow, with this goal of getting to a deal so we can get them back to work, get our customers the reliable service they need,' Kolluri said. A message seeking comment Saturday was left with the union. The walkout comes after the latest round of negotiations on Thursday didn't produce an agreement. It is the state's first transit strike in more than 40 years and comes a month after union members overwhelmingly rejected a labor agreement with management. Wallace walked the picket line Friday outside New York City's Penn Station, and said the engineers are committed to staying on strike until they get a fair deal. Union members were nearly unanimous in authorizing a strike last summer, and 87% of them rejected the latest agreement. Wallace said NJ Transit needs to pay engineers a wage that's comparable to Amtrak and Long Island Railroad because engineers are leaving for jobs on those other railroads for better pay, The union has seen steady attrition in its ranks at NJ Transit as more members leave to take better-paying jobs at other railroads. The number of NJ Transit engineers has shrunk from 500 several months ago to about 400. The engineers are responsible for operating trains, ensuring safe and smooth transport between stations, New Jersey Democratic Gov. Phil Murphy said Friday that it is important to 'reach a final deal that is both fair to employees and at the same time affordable to New Jersey's commuters and taxpayers.' NJ Transit is the nation's third-largest transit system and operates buses and rail in the state, providing nearly 1 million weekday trips, including into New York City. The walkout halts all NJ Transit commuter trains, which provide heavily used public transit routes between Penn Station on one side of the Hudson River and communities in northern New Jersey on the other, as well as the Newark airport, which has grappled with unrelated delays of its own recently. The Associated Press Sign in to access your portfolio
