Latest news with #MineralSecurityPartnership
Hindustan Times
6 days ago
- Business
- Hindustan Times
Reduce over-dependence on China for critical minerals
As we steer toward a future shaped by renewable energy and electric mobility, lithium-ion batteries have emerged as the backbone of this transformation. From electric vehicles (EVs) to energy storage systems (ESS), the demand for lithium and other critical minerals is surging exponentially. Yet, even as global momentum accelerates, India finds itself at a juncture where we are deeply dependent on foreign sources, especially from China, to meet our mineral needs. This import reliance is not just a logistical inconvenience; it is a strategic vulnerability. Renewable energy, by its very nature, should represent independence in a way that is free from fossil fuel geopolitics and volatility. But when a country imports nearly 100% of its lithium and other key mineral requirements, the promise of energy sovereignty begins to waver. Recognising this urgent challenge, the Government of India has launched the National Critical Mineral Mission which mandates PSUs to enter into public private partnerships with private entities such as ourselves and many other innovative companies to make foreign and domestic investments, acquire technology and prepare itself for the large-scale operations that are to come. The lithium-ion battery supply chain is inherently complex, requiring a seamless integration of mineral exploration, refining, cell chemistry, and manufacturing. It is not enough to mine lithium; one must also refine it with precision, a capability that India currently lacks at commercial scale. We are also vulnerable to a lack of policy support for battery component manufacturers who can apply new technologies they develop or acquire. This is precisely where our next move becomes critical. As the US-led 14-nation Mineral Security Partnership aligns to democratise and strengthen the critical minerals supply chain, Altmin is stepping up to acquire a sizeable stake in a commercial scale lithium refinery, the only one operational outside China. The move will give Altmin access to refining technology that would otherwise take years to develop. The Government of India and other research and development (R&D) entities are exploring the exploitation of critical minerals. But despite these efforts, India will miss opportunities of the green energy race to the already established Chinese eco-system; unless India adapts existing technology and fast-tracks its own ecosystem reinforced through government policy. A quick five-point industry ask, if met, will accelerate India's self-reliance in this sector. Standardisation of original equipment manunfacturer (OEM) specifications is the need of the hour. For consistent and scalable manufacturing of cells, the specifications demanded by OEMs must be standardised based on industry requirements. This will eliminate unnecessary variability and help manufacturers plan optimal production lines. Next in line is stabilisation of kilowatt-hour (kWh) pricing. The current spot prices for cell energy (kWh) are influenced by undervalued and cut-rate pricing practises, especially from China. To counteract this, a mechanism to stabilise the kWh pricing is needed, ensuring fair value for domestic manufacturers. I would like to propose a minimum support price for cells so that there is a baseline economic viability that is ensured for manufacturers, independent of international price fluctuations. The cost of cell production is directly tied to the input components—anode, cathode, electrolyte, and other battery materials. A component-wise minimum support price framework with a fixed minimum profit margin for component manufacturers will encourage growth in these stages of the value chain. To promote Atmanirbhar Bharat, all cell manufacturers availing the minimum support price regime should achieve at least 60% localisation within the next two years. This localisation should be monitored and audited to ensure compliance in both letter and spirit. These measures will catalyse domestic manufacturing and protect Indian manufacturers from global market distortions, enabling long-term competitiveness and technological sovereignty. For these efforts to bear fruit at scale, we must adapt existing technologies, foster global collaborations, and build a nurturing domestic ecosystem that can withstand the rigors of future demand. Only then can we secure not just our energy future—but our strategic autonomy. This article is authored by Anjani Sri Mourya Sunkavalli, founder and MD, Altmin.
Business Upturn
6 days ago
- Business
- Business Upturn
Terra Metals Inc. and Metalex Commodities Seal $100M Critical Minerals Deal; Lunda Resources to Commission 240 TPH Copper-Cobalt Plant by September 2025
By GlobeNewswire Published on May 28, 2025, 21:15 IST CHARLOTTE, N.C. and LUSAKA, Zambia, May 28, 2025 (GLOBE NEWSWIRE) — Terra Metals Inc., a U.S.-based critical minerals development company, and Metalex Commodities, a global energy and resources investment firm, have concluded final negotiations to establish Lunda Resources, a new copper and cobalt production powerhouse in Zambia. The agreement, which includes a $100 million initial funding commitment, will be signed next month at the U.S. Embassy in Lusaka, underscoring the strategic alignment with U.S. government priorities on critical mineral security. The signing will highlight the strengthening U.S.-Africa cooperation in the clean energy transition and will serve as a major diplomatic and commercial milestone for the region's mining sector. Leadership and Strategic Vision Under the agreement, Mumena Mushinge, Chairman of Terra Metals Inc., will serve as Chairman of Lunda Resources, with Ayo Sopitan, CEO of Metalex Commodities, appointed as Chief Executive Officer. Terra's Executive Director Brian Chisala also joins the leadership team, reinforcing the cross-continental expertise of the venture. Project Milestone: 240 TPH Concentrator Construction is already underway on a 240-ton-per-hour copper and cobalt concentrator in Zambia. Targeted for commissioning in September 2025, the facility will process high-grade ores to supply strategic end-markets, including the United States, through the Lobito Railway Corridor, offering a direct logistics route to Atlantic ports. 'This partnership is a leap forward for Zambia's mining sector and a cornerstone of U.S.-Africa industrial alignment,' said Mumena Mushinge, Chairman of Terra Metals Inc. and Lunda Resources. 'We're building the infrastructure, governance, and funding mechanisms to responsibly extract and deliver the minerals that power the global clean energy future.' Stage One Financing: $100 Million Committed Metalex Commodities has pledged to raise $100 million over the next nine months, which will be directed toward: Final plant commissioningLogistics and export infrastructure Community inclusion programs and ESG compliance Terra Metals Inc. Expands Capital Access via WOGC In a parallel development, Terra Metals Inc. also signed a Share Purchase Agreement with Waskahigan Oil and Gas Corp. (WOGC), a Canadian-listed company. This transaction gives Terra direct access to public capital markets in North America and opens the door for institutional investors to participate in the Lunda Resources growth story. U.S. Government Support and Global Strategic Relevance The decision to hold the official signing ceremony at the U.S. Embassy in Lusaka reflects Washington's growing focus on supply chain security for critical minerals, particularly those essential to electric vehicles, renewable energy, and energy storage systems. This project complements the U.S. Department of State's Mineral Security Partnership (MSP) goals and positions Zambia as a pivotal player in global mineral flows. Media Assets and Press Kit High-resolution images and video clips from the construction site, leadership meetings, and plant equipment have been released as part of the Lunda Resources press kit, available on request or via Terra Metals' media center. ABOUT TERRA METALS INC. Terra Metals Inc. is a Delaware-based mineral development company focused on securing high-impact, ESG-compliant critical mineral assets across Africa for delivery to U.S. and allied markets. ABOUT METALEX COMMODITIES Metalex Is a US based mining and metal commodity trading company with operations in Nigeria and Zambia, active in zinc, lithium, manganese, copper and cobalt. MEDIA CONTACTS:Terra Metals Inc. Email: IR @ Phone: +1 (980) 349-3883 Website: Brian Chisala (Left) – Mumena Mushinge (Middle) – Ayo Sopitan (Right) A photo accompanying this announcement is available at A video accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
6 days ago
- Business
- Yahoo
Terra Metals Inc. and Metalex Commodities Seal $100M Critical Minerals Deal; Lunda Resources to Commission 240 TPH Copper-Cobalt Plant by September 2025
CHARLOTTE, N.C. and LUSAKA, Zambia, May 28, 2025 (GLOBE NEWSWIRE) -- Terra Metals Inc., a U.S.-based critical minerals development company, and Metalex Commodities, a global energy and resources investment firm, have concluded final negotiations to establish Lunda Resources, a new copper and cobalt production powerhouse in Zambia. The agreement, which includes a $100 million initial funding commitment, will be signed next month at the U.S. Embassy in Lusaka, underscoring the strategic alignment with U.S. government priorities on critical mineral security. The signing will highlight the strengthening U.S.-Africa cooperation in the clean energy transition and will serve as a major diplomatic and commercial milestone for the region's mining sector. Leadership and Strategic Vision Under the agreement, Mumena Mushinge, Chairman of Terra Metals Inc., will serve as Chairman of Lunda Resources, with Ayo Sopitan, CEO of Metalex Commodities, appointed as Chief Executive Officer. Terra's Executive Director Brian Chisala also joins the leadership team, reinforcing the cross-continental expertise of the venture. Project Milestone: 240 TPH Concentrator Construction is already underway on a 240-ton-per-hour copper and cobalt concentrator in Zambia. Targeted for commissioning in September 2025, the facility will process high-grade ores to supply strategic end-markets, including the United States, through the Lobito Railway Corridor, offering a direct logistics route to Atlantic ports. 'This partnership is a leap forward for Zambia's mining sector and a cornerstone of U.S.-Africa industrial alignment,' said Mumena Mushinge, Chairman of Terra Metals Inc. and Lunda Resources. 'We're building the infrastructure, governance, and funding mechanisms to responsibly extract and deliver the minerals that power the global clean energy future.' Stage One Financing: $100 Million Committed Metalex Commodities has pledged to raise $100 million over the next nine months, which will be directed toward: Final plant commissioningLogistics and export infrastructureCommunity inclusion programs and ESG compliance Terra Metals Inc. Expands Capital Access via WOGC In a parallel development, Terra Metals Inc. also signed a Share Purchase Agreement with Waskahigan Oil and Gas Corp. (WOGC), a Canadian-listed company. This transaction gives Terra direct access to public capital markets in North America and opens the door for institutional investors to participate in the Lunda Resources growth story. U.S. Government Support and Global Strategic Relevance The decision to hold the official signing ceremony at the U.S. Embassy in Lusaka reflects Washington's growing focus on supply chain security for critical minerals, particularly those essential to electric vehicles, renewable energy, and energy storage systems. This project complements the U.S. Department of State's Mineral Security Partnership (MSP) goals and positions Zambia as a pivotal player in global mineral flows. Media Assets and Press Kit High-resolution images and video clips from the construction site, leadership meetings, and plant equipment have been released as part of the Lunda Resources press kit, available on request or via Terra Metals' media center. ABOUT TERRA METALS INC. Terra Metals Inc. is a Delaware-based mineral development company focused on securing high-impact, ESG-compliant critical mineral assets across Africa for delivery to U.S. and allied markets. ABOUT METALEX COMMODITIES Metalex Is a US based mining and metal commodity trading company with operations in Nigeria and Zambia, active in zinc, lithium, manganese, copper and cobalt. MEDIA CONTACTS:Terra Metals IR@ +1 (980) 349-3883Website: Chisala (Left) - Mumena Mushinge (Middle) - Ayo Sopitan (Right) A photo accompanying this announcement is available at A video accompanying this announcement is available at
Time of India
26-05-2025
- Business
- Time of India
Powering India's energy future: Why it's time to bet big on sodium-ion batteries
Known for its high energy density and long cycle life, lithium-ion has emerged as the preferred choice of battery technology. Lithium-ion batteries (LIBs) are also distinguished by their adaptability and scalability, rendering itself to be an ideal candidate for applications in electric vehicles (EV) and utility-scale energy storage. The convergence of the technical benefits coupled with swift expansion of global manufacturing capacities for LIBs has resulted in a substantial reduction in production costs. India is actively promoting battery manufacturing and supply chain development, but its access to battery critical minerals, especially lithium, essential for cathode and electrolyte, remains severely limited. To overcome this, the Indian government has initiated efforts to secure critical mineral supplies through partnerships such as the Mineral Security Partnership (MSP) and SPVs like KABIL. However, supply vulnerabilities remain. China is the dominant player across the value chain including supply of minerals such as lithium and graphite. In 2023, China restricted graphite exports, disrupting supply chains for countries like the US and South Korea. Although India is scaling up its graphite and anode capacity, lithium supply remains heavily exposed to geopolitical risks because of heavy backward integration of five to seven top Chinese lithium processing companies into mining in Australia and Chile. In addition, China is planning to restrict export of advanced technologies, particularly those related to lithium refining and cathode preparation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Crossout: New Apocalyptic MMO Crossout Play Now Undo Given the restrictions and challenges surrounding critical minerals and battery technology, Indian stakeholders, including the government and industry, need to realign their strategies to secure a resilient position in the global battery supply chain. In this context, sodium-ion batteries (SIBs), though still in the development stage, present a promising alternative among the available battery chemistries. Comparison: LIBs and SIBs Cathode Active Material (CAM): SIBs often utilise cathode materials designed to accommodate the larger sodium-ions, such as Layered Oxides, Polyanionic compounds, or Prussian Blue analogues. LIBs typically use lithium iron phosphate (LFP) or other lithium containing compounds. Anode Active Material (AAM): While graphite is the common anode material for LIBs, it is not as effective for SIBs because sodium ions do not intercalate as readily into graphite. Alternative materials for SIBs, include hard carbon and soft carbon. Electrolyte salts: The electrolyte in SIBs contains sodium salts, such as sodium hexafluorophosphate (NaPF6), whereas LIBs use lithium salts like lithium hexafluorophosphate (LiPF6). The solvents and additives may also differ to optimise performance. Other cell components such as separators, aluminium foil, and casings are essentially common across LIBs and SIBs. Techno-commercial suitability of SIBs The biggest advantage of SIBs lies in the abundance of sodium, one of Earth's most plentiful elements. While LIBs are currently cheaper, SIBs when produced at scale can potentially be ~20per cent to 30per cent more economical. Live Events Although SIBs have a lower energy density, they offer superior safety and temperature tolerance, making them a good fit for Battery Energy Storage Systems (BESS). Prioritising early adoption of SIBs in BESS can drive down costs, paving the way for their eventual expansion into mobility applications. India's advanced chemical industry is well-positioned to supply essential SIB components, strengthening the domestic supply chain. SIBs are also compatible with existing LIB infrastructure (cell manufacturing), enabling a smooth transition with minimal investment. However, to realise the potential of SIBs, India needs a strategic and multi-faceted approach. Key stakeholders should take decisive steps to advance both the technological maturity and commercialisation of SIBs. Technology maturity: The government can prioritise higher funding for academic and industrial research focused on improving energy density, cycle life, and material characteristics. In addition to existing pilot infrastructure, building accessible pilot lines can help bridge the gap between laboratory research and full-scale manufacturing. Cultivating partnership between pilot lines and established organisations, such as Automotive Research Association of India (ARAI) and third-party facilities, can further expediate prototype testing and validation of SIB technology. Creating incubators and innovation hubs can catalyse technological breakthroughs and provide resources, mentorship, and support for startups and researchers in the battery domain. In addition, leveraging IP rights to create strategic partnerships and licensing agreements can further encourage a continuous cycle of innovation and investments in SIB. Commercialisation roadmap: The government can prioritise the allocation of the remaining 10 GWh under the ACC PLI scheme to players opting for alternative chemistries like SIBs to expediate commercialisation. The rollout of incentives such as tax breaks for raw materials, streamlined approvals to establish manufacturing facilities, and support for OEMs to conduct PoC projects can be critical in bridging between R&D and commercial deployment. The industry can also leverage international partnerships with global battery players based in Japan or Korea. Gaining access to advanced technologies and creating a collaborative effort among the Indian chemical industry, Tier-1 manufacturers, and academic institutions will help forge a robust supply chain for SIBs. Furthermore, building targeted training modules on cell technology, the usage of equipment when scaling a gigafactory, and quality control will be key to cultivating a specialised proficient workforce in battery technology within India. Adopting a dual strategy The majority of SIB players are at a Technology Readiness Level (TRL) of 5 to 6, which is far from the commercial deployment levels of 8 to 9. In the interim, it is prudent for India to actively participate in the energy transition by utilising LIBs while simultaneously preparing to embrace a forward-thinking strategy through the integration of SIBs. This dual-track approach will enable India not only to participate in the global energy transition but to lead it, especially as SIBs reach commercial maturity and offer a viable alternative to the current LIB paradigm.
Time of India
26-05-2025
- Business
- Time of India
Powering India's energy future: Why it's time to bet big on sodium-ion batteries
Known for its high energy density and long cycle life, lithium-ion has emerged as the preferred choice of battery technology. Lithium-ion batteries (LIBs) are also distinguished by their adaptability and scalability, rendering itself to be an ideal candidate for applications in electric vehicles (EV) and utility-scale energy storage. The convergence of the technical benefits coupled with swift expansion of global manufacturing capacities for LIBs has resulted in a substantial reduction in production costs. India is actively promoting battery manufacturing and supply chain development, but its access to battery critical minerals, especially lithium, essential for cathode and electrolyte, remains severely limited. To overcome this, the Indian government has initiated efforts to secure critical mineral supplies through partnerships such as the Mineral Security Partnership (MSP) and SPVs like KABIL. However, supply vulnerabilities remain. China is the dominant player across the value chain including supply of minerals such as lithium and graphite. In 2023, China restricted graphite exports, disrupting supply chains for countries like the US and South Korea. Although India is scaling up its graphite and anode capacity, lithium supply remains heavily exposed to geopolitical risks because of heavy backward integration of five to seven top Chinese lithium processing companies into mining in Australia and Chile. In addition, China is planning to restrict export of advanced technologies, particularly those related to lithium refining and cathode preparation. Given the restrictions and challenges surrounding critical minerals and battery technology, Indian stakeholders, including the government and industry, need to realign their strategies to secure a resilient position in the global battery supply chain. In this context, sodium-ion batteries (SIBs), though still in the development stage, present a promising alternative among the available battery chemistries. Comparison: LIBs and SIBs Cathode Active Material (CAM): SIBs often utilize cathode materials designed to accommodate the larger sodium-ions, such as Layered Oxides, Polyanionic compounds, or Prussian Blue analogues. LIBs typically use lithium iron phosphate (LFP) or other lithium containing compounds. Anode Active Material (AAM): While graphite is the common anode material for LIBs, it is not as effective for SIBs because sodium ions do not intercalate as readily into graphite. Alternative materials for SIBs, include hard carbon and soft carbon. Electrolyte salts: The electrolyte in SIBs contains sodium salts, such as sodium hexafluorophosphate (NaPF6), whereas LIBs use lithium salts like lithium hexafluorophosphate (LiPF6). The solvents and additives may also differ to optimize cell components such as separators, aluminium foil, and casings are essentially common across LIBs and SIBs. Techno-commercial suitability of SIBs The biggest advantage of SIBs lies in the abundance of sodium, one of Earth's most plentiful elements. While LIBs are currently cheaper, SIBs when produced at scale can potentially be ~20per cent to 30per cent more economical. Although SIBs have a lower energy density, they offer superior safety and temperature tolerance, making them a good fit for Battery Energy Storage Systems (BESS). Prioritising early adoption of SIBs in BESS can drive down costs, paving the way for their eventual expansion into mobility applications. India's advanced chemical industry is well-positioned to supply essential SIB components, strengthening the domestic supply chain. SIBs are also compatible with existing LIB infrastructure (cell manufacturing), enabling a smooth transition with minimal investment. However, to realise the potential of SIBs, India needs a strategic and multi-faceted approach. Key stakeholders should take decisive steps to advance both the technological maturity and commercialisation of SIBs. Technology maturity: The government can prioritize higher funding for academic and industrial research focused on improving energy density, cycle life, and material characteristics. In addition to existing pilot infrastructure, building accessible pilot lines can help bridge the gap between laboratory research and full-scale manufacturing. Cultivating partnership between pilot lines and established organizations, such as Automotive Research Association of India (ARAI) and third-party facilities, can further expediate prototype testing and validation of SIB technology. Creating incubators and innovation hubs can catalyse technological breakthroughs and provide resources, mentorship, and support for startups and researchers in the battery domain. In addition, leveraging IP rights to create strategic partnerships and licensing agreements can further encourage a continuous cycle of innovation and investments in SIB. Commercialisation roadmap: The government can prioritize the allocation of the remaining 10 GWh under the ACC PLI scheme to players opting for alternative chemistries like SIBs to expediate commercialisation. The rollout of incentives such as tax breaks for raw materials, streamlined approvals to establish manufacturing facilities, and support for OEMs to conduct PoC projects can be critical in bridging between R&D and commercial deployment. The industry can also leverage international partnerships with global battery players based in Japan or Korea. Gaining access to advanced technologies and creating a collaborative effort among the Indian chemical industry, Tier-1 manufacturers, and academic institutions will help forge a robust supply chain for SIBs. Furthermore, building targeted training modules on cell technology, the usage of equipment when scaling a gigafactory, and quality control will be key to cultivating a specialized proficient workforce in battery technology within India. Adopting a dual strategy The majority of SIB players are at a Technology Readiness Level (TRL) of 5 to 6, which is far from the commercial deployment levels of 8 to 9. In the interim, it is prudent for India to actively participate in the energy transition by utilising LIBs while simultaneously preparing to embrace a forward-thinking strategy through the integration of SIBs. This dual-track approach will enable India not only to participate in the global energy transition but to lead it, especially as SIBs reach commercial maturity and offer a viable alternative to the current LIB paradigm.
