Latest news with #REE
Yahoo
3 days ago
- Business
- Yahoo
VIB provides $62m financing for REE's Duyen Hai wind project in Vietnam
Vietnam International Bank (VIB) has finalised a VND1,640bn ($62.68m) credit facility agreement with Duyen Hai Wind Power Joint Stock Company (JSC) to support the construction of the 48MW Duyen Hai wind power plant in Vinh Long province, Vietnam. Duyen Hai Wind Power JSC is a subsidiary of the Refrigeration Electrical Engineering Corporation (REE). The wind power plant will be situated across the communities of Dong Hai, Long Thanh and Ngu Lac and will commence operations by December 2025. It will supply clean energy to Vietnam's national grid while stimulating local economic development. The project will enhance renewable energy and sustainable development in the Mekong Delta region, which is highly susceptible to climate change impacts. REE deputy CEO Nguyen Ngoc Thai Binh stated: 'We highly value VIB's partnership – a leading financial institution in Vietnam with strong execution capabilities, deep industry insight, and the ability to tailor solutions to the unique nature of each project. 'Along with REE's expansion of its footprint in the renewable energy sector, having a reliable financial partner like VIB is a key factor in realising our strategy to green our energy portfolio in the years ahead.' The Duyen Hai wind power plant is aligned with REE's strategic plan to grow its renewable energy footprint. The company has developed more than 2,800MW of generation capacity, with almost 1,700MW from renewable sources such as wind, solar and hydropower. REE plans to achieve 5GW of total generation capacity by 2035. VIB has played an integral role as lead financier of the project by offering early-stage advisory services on loan structuring and creating a disbursement schedule customised for the renewable venture's unique needs. VIB corporate banking deputy CEO and head Nguyen Xuan Dung stated: 'This collaboration with Duyen Hai Wind Power and REE further demonstrates VIB's commitment to swift execution, practical support, and long-term, responsible partnership with pioneering enterprises like REE – companies that create long-lasting value for society through sustainable development projects.' "VIB provides $62m financing for REE's Duyen Hai wind project in Vietnam" was originally created and published by Power 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. Sign in to access your portfolio
Reuters
4 days ago
- Business
- Reuters
Spain's energy lobby calls for higher proposed return on grid investment
MADRID, July 18 (Reuters) - A proposal by Spain's competition watchdog CNMC to raise the guaranteed return on investments in power grids to 6.46% is not enough to stop Spain losing much-needed capital to other countries, power utilities lobby Aelec warned on Friday. A massive blackout that hit Spain and Portugal on April 28 reignited a debate about investment needs in the country's power networks and the return on such investments. Power companies invest in grids in exchange for a stable return, which in Spain is currently set at 5.58%, with consumers ultimately paying that guaranteed rate through their electricity bills. Aelec said the guaranteed return on investments for electricity distribution should be around 7.5%, a level in line with the rates being applied in other countries. "We run the risk of capital flight and investment being attracted away from Spain to other European Union countries, thereby jeopardising the implementation of investments for the energy transition," Marta Castro, Aelec's head of regulation, told reporters. The new remuneration will cover the 2026-2031 period. The CNMC proposal is open to feedback until August 4. Spain's grid operator REE, owned by Redeia ( opens new tab, manages the trunk grid, and carries out investments envisaged in government plans. Power companies including Iberdrola ( opens new tab and Endesa ( opens new tab control and invest in local distribution grids, which take electricity to the final customers. Energy giants like Iberdrola and Enel have increased their focus in recent years on expanding and upgrading power grids while taking a more selective approach to renewable energy projects.
Time of India
6 days ago
- Business
- Time of India
Hindustan Zinc secures potash block, adds to REE and tungsten assets in critical minerals push
New Delhi: Hindustan Zinc Limited (HZL) on Wednesday said it has received a Letter of Intent (LoI) from the Ministry of Mines for a potash block located in Hanumangarh district of Rajasthan. The company secured the block under Tranche V of the Centre's e-auction process conducted in May 2025. The block spans over 1,800 hectares and is among the first potash blocks awarded in the country. This is Hindustan Zinc's third acquisition in the critical minerals segment in 2025. Earlier this month, the company had received an LoI from the Uttar Pradesh government for a Rare Earth Elements (REE) block and previously secured a Tungsten and Associated Minerals block in Andhra Pradesh. Arun Misra, CEO of Hindustan Zinc Limited, said, 'At Hindustan Zinc, we have deep expertise in strategic mineral exploration. This acquisition is in line with our strategic foray into the critical minerals segment to support the nation's mineral security goals for rapid economic growth.' Potash is a key input for the fertiliser industry, especially in the production of NPK fertilisers . India currently imports all its potash requirements from countries including Canada, Belarus, Jordan, and South Korea. The auction of the country's first potash and halite blocks is seen as a step towards reducing import dependence and supporting domestic agricultural inputs. Hindustan Zinc, a Vedanta Group company, is India's only and the world's largest integrated zinc producer. It holds around 77% share in India's primary zinc market and supplies to over 40 countries. The company is among the top five silver producers globally. Hindustan Zinc said its recent mineral acquisitions align with its strategy to build a portfolio of high-quality critical mineral assets with long-term mining potential. The company said it aims to leverage its in-house exploration and mining capabilities to develop these assets and contribute to India's goal of strengthening domestic mineral security.
Barnama
6 days ago
- Business
- Barnama
UMK Signs MoUs To Boost National Rare Earth Industry
KOTA BHARU, July 16 (Bernama) -- Universiti Malaysia Kelantan (UMK) today signed two memoranda of understanding (MoUs) to strengthen the integrated, strategic and high-impact development of the country's rare earth elements (REE) industry. Its vice-chancellor Prof Dr Arham Abdullah said the first MoU involves a Triple Helix synergy-based collaboration between UMK, the Malaysian Industry-Government Group for High Technology (MIGHT), and Universiti Malaysia Pahang Al-Sultan Abdullah (UMPSA). He said REE is now recognised as one of Malaysia's five strategic minerals and plays a key role in modern technologies, including renewable energy, electronics, defence and healthcare. 'In Malaysia, particularly in Kelantan, there are significant deposits of non-radioactive rare earth elements (NR-REE). However, geological features such as ion-adsorption clay make the extraction process more challenging and require a sustainable, innovative and environmentally friendly approach. 'This collaboration underlines that the development of the REE industry cannot be done in isolation. Its success depends on strong synergy among research institutions, government agencies and industry players to ensure the technologies developed are sustainable, relevant and scalable at the national level,' he said in a statement. He added that UMK also has a group of young, proactive and competent researchers capable of developing REE solutions across the value chain, which further enhances the value of the signed MoUs. Commenting further, Arham said the second MoU involves bilateral cooperation between UMK and Upstream Downstream Process & Services Sdn Bhd, focusing on technology transfer and direct industry testing. 'As an entrepreneurial university, UMK strives to balance academic research needs with industrial application. This collaboration reflects UMK's commitment to driving the development of the local REE ecosystem in Kelantan,' he said. -- BERNAMA
Miami Herald
14-07-2025
- Business
- Miami Herald
Dateline Resources Appoints Mining Veteran Simon Slesarewich as Chief Operating Officer to Lead Development of U.S. Gold and Rare Earths Project
Dateline COO to accelerate development of Colosseum Gold and REE project SYDNEY, AUSTRALIA AND SAN BERNARDINO COUNTY, CA / ACCESS Newswire / July 14, 2025 / Dateline Resources Limited (ASX:DTR)(OTCQB:DTREF), a North American-focused mining and exploration company, today announced the appointment of Mr. Simon Slesarewich as Chief Operating Officer (COO), effective August 4, 2025. Mr. Slesarewich brings more than 25 years of international experience in project development, operations, and executive leadership across a range of commodities including gold, base metals, industrial minerals, and bulk commodities. In his new role, he will lead the development of Dateline's 100%-owned Colosseum Gold and Rare Earth Elements (REE) Project, located in California. "We are thrilled to have Simon join Dateline as our Chief Operating Officer at this pivotal stage for the Company," said Stephen Baghdadi, Managing Director of Dateline Resources. "Simon's decision to come on board, and his significant personal shareholding in Dateline, is a strong vote of confidence in the Colosseum Project and our vision. He brings a wealth of operational experience and a proven track record in taking projects from study through to production. We are confident that his leadership will be instrumental in successfully delivering the Colosseum Gold & REE Project into production and driving significant growth for Dateline." Mr. Slesarewich joins Dateline from Thiess, the world's largest mining services provider with over 12,000 employees globally, where he served in senior executive roles including Operations Director and Project Director. At Thiess, he managed mining contracts generating significant annual revenues and played a key role in the deployment of cutting-edge mining technologies. His career highlights include: Large-Scale Operations Management: In his role as Operations Director, he managed two full-service mining contracts with significant annual revenues and more than 1,200 personnel under Strategy & Integration: Mr Slesarewich also led the sale of Boardwalk Resources to Whitehaven Coal as part of a $5.2 billion transaction. Other roles have included Head of Integration, where he developed and executed a strategy that achieved cost synergies beyond the acquisition model and unified key business systems across finance, assets, IT, and people. This demonstrates his strong commercial acumen and ability to align large organizations to strategic Development - Middlemount Coal: Earlier in his career, as General Manager, Operations of the Middlemount Coal Mine (Queensland), Mr Slesarewich transformed an undeveloped concept into a fully operational mining operation. He successfully led the greenfield development of Middlemount, a 4.2 Mtpa coking coal mine, overseeing approximately A$500 million in capital construction and a A$400 million annual operating budget, with a workforce of over 800 staff. Under his leadership, Middlemount was developed on time and on budget, and was noted for its significantly lower capital intensity compared to peer projects. Mr. Slesarewich has personally invested approximately $1 million to purchase Dateline Resources shares, demonstrating a powerful commitment to shareholder interests and strong confidence in the Company's growth trajectory. "I am extremely excited to be joining Dateline Resources," said Mr. Slesarewich. "As an investor in the Company, I firmly believe in the potential of the Colosseum Gold and Rare Earths Project and its strategic importance. I look forward to working closely with Stephen and the team to advance Colosseum through the feasibility study and into construction and production. Together, we will be focused on executing the project effectively and creating significant value for all Dateline shareholders as we move toward production." About Dateline Resources Limited Dateline Resources Limited (ASX:DTR)(OTCQB:DTREF) is an Australian company focused on mining and exploration in North America. The Company owns 100% of the Colosseum Gold-REE Project in California. The Colosseum Gold Mine is located in the Walker Lane Trend in East San Bernardino County, California. On 6 June 2024, the Company announced to the ASX that the Colosseum Gold mine has a JORC-2012 compliant Mineral Resource estimate of 27.1Mt @ 1.26g/t Au for 1.1Moz. Of the total Mineral Resource, 455koz @ 1.47/t Au (41%) are classified as Measured, 281koz @1.21g/t Au (26%) as Indicated and 364koz @ 1.10g/t Au (33%) as Inferred. On 23 May 2025, Dateline announced that updated economics for the Colosseum Gold Project generated an NPV6.5 of US$550 million and an IRR of 61% using a gold price of US$2,900/oz. The Colosseum is located less than 10km north of the Mountain Rare Earth mine. Planning has commenced on drill testing the REE potential at Colosseum. Forward-Looking Statements This announcement may contain "forward-looking statements" concerning Dateline Resources that are subject to risks and uncertainties. Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Dateline Resources' ability to control or estimate precisely, such as future market conditions, changes in regulatory environment and the behavior of other market participants. Dateline Resources cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements. Dateline Resources assumes no obligation and does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required. Contact InformationStephen BaghdadiManaging DirectorDateline Resources Limited+61 2 9375 2353info@ Andrew RowellWhite Noise Communications+61 400 466 226andrew@ Follow Dateline on X: @Dateline_DTR Dateline Resources LimitedLevel 29, 2 Chifley Square, Sydney, NSW 2000, Australia This press release is authorized for release by the Board of Dateline Resources Limited. SOURCE: Dateline Resources Limited
