Latest news with #productioncapacity
Yahoo
4 days ago
- Business
- Yahoo
Lithium Argentina-Ganfeng Lithium joint venture to boost lithium production
Lithium Argentina and Ganfeng Lithium Group have entered a framework agreement to create a joint venture (JV) that will consolidate their lithium projects in Argentina. The new JV, named PPG, will merge Ganfeng's Pozuelos-Pastos Grandes project with Lithium Argentina's Pastos Grandes and Sal de la Puna projects. Ganfeng will hold a 67% stake in the venture, with Lithium Argentina owning the remaining 33%. The current development plan aims to establish a production capacity of up to 150,000 tonnes per annum (tpa) of lithium carbonate equivalent (LCE) in three phases. The ongoing feasibility study, expected to be completed by the end of 2025, will be used to support an application under Argentina's Incentive Regime for Large Investments (RIGI), due for submission in the first half of 2026. It will assess the potential for both lithium carbonate and lithium chloride production, catering to the diverse needs of the battery market. The proposed hybrid flowsheet combines direct lithium extraction and solar evaporation methods to enhance scalability and efficiency. Both partners are exploring financing avenues including offtake agreements, minority equity interests and project financing with potential customers and strategic partners. Lithium Argentina president and CEO Sam Pigott said: 'This transaction builds on our successful partnership with Ganfeng at Cauchari-Olaroz, Argentina's largest lithium operation. 'With this transformative step forward, we are increasing our ownership into the Pozuelos basin and aligning our interests around a substantially larger-scale operation. The new JV will provide access to advanced technologies, increased financial flexibility and meaningful operating synergies. It represents an important milestone in our strategy to develop a diversified, scalable and sustainable global lithium supply chain while strengthening our balance sheet and creating lasting value for our shareholders.' Additionally, Ganfeng has committed to providing Lithium Argentina with a $130m (932.66 yuan) six-year debt facility at a SOFR (secured overnight financing rate) plus 2.5%. This facility will bolster Lithium Argentina's financial standing, allowing for corporate debt refinancing and balance sheet strengthening. Under the terms of the debt facility, Lithium Argentina will allocate up to 50% of its offtake from PPG's initial development phase to Ganfeng at market rates, capped at 6,000tpa of LCE. The debt is prepayable without penalties and secured by Lithium Argentina's equity in PPG, with provisions for subordination to new corporate debt financings. The formation of the JV is contingent upon the completion of several steps including definitive agreements, a development plan and a loan agreement for the debt facility. These steps, along with regulatory and stock exchange approvals, are prerequisites for the JV's expected closure by the first quarter of 2026. In December, Lithium Argentina announced its intention to relocate its corporate domicile to Switzerland, enhancing its financing capabilities and supporting its long-term growth strategy. "Lithium Argentina-Ganfeng Lithium joint venture to boost lithium production" 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. Sign in to access your portfolio
Bloomberg
06-08-2025
- Business
- Bloomberg
Adnoc Gas CFO: Expect Rich Gas Project to Hike Capacity by 10%
Adnoc Gas expects the Rich Gas Development project to raise its production capacity by more than 1.5 billion cubic feet per day. The three phases of the project will raise Adnoc Gas's output capacity by about 10%. The CFO Peter van Driel spoke to Joumanna Bercetche on Horizons Middle East & Africa after reporting record 2Q results, including a profit beat of 16% year on year. (Source: Bloomberg)
Yahoo
18-07-2025
- Automotive
- Yahoo
Stellantis doubles Kenitra plant capacity for electric cars
Stellantisis poised to double its production capacity at the Kenitra plant in Morocco in the forthcoming months, aiming to reach 535,000 vehicles annually, reported Reuters. The plant's focus will be on increasing the output of supermini electric cars, including the Opel Rocks-e, Citroën Ami, and Fiat Topolino, from 20,000 to 70,000 units. It will primarily supply markets in Europe and North Africa. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service The expansion plans were announced by Stellantis Middle East & Africa chief operating officer, Samir Cherfan during the inauguration of the plant's €1.2bn ($1.4bn) expansion project. The move is anticipated to increase the local sourcing rate from the current 69% to 75% by 2030, as stated by Moroccan Prime Minister Aziz Akhannouch. Additionally, the company has plans to manufacture hybrid engines and three-wheeled vehicles at the Kenitra facility, which first opened its doors in 2019 and achieved a production capacity of 200,000 vehicles by 2020. Industry minister Ryad Mezzour noted that Morocco's automotive sector is set to surpass a production capacity of one million vehicles with the company's expansion. Moroccan automotive industry exports are said to have seen a 6.3% increase to a $17bn last year. "Stellantis doubles Kenitra plant capacity for electric cars – report" was originally created and published by Just Auto, 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-07-2025
- Business
- Yahoo
Sonoco to expand adhesives and sealants production with $30m investment
Sonoco Products Company has announced a capital investment of $30m in its Orlando, US, facility aimed at increasing its production capacity in the adhesives and sealants sector. The move is expected to add 100 million units to the company's annual output, addressing the rising demand for these products. Sonoco noted that the investment will focus on both upgrading current production lines and establishing new ones, which is intended to enhance operational efficiency. In addition to the company's Orlando site, the expanded capacity will be distributed across Sonoco's other two facilities in the US, a move designed to improve supply chain reliability and ensure consistent access to materials for customers. Orange County mayor Jerry Demings said: 'We are excited to see companies like Sonoco continue to invest and expand in Orange County. 'Their decision to grow here underscores the strength of our regional economy and reinforces the importance of supporting businesses that help diversify our economy. 'This investment not only benefits our community today but helps position Orange County for a more prosperous future, attracting companies that support our region and our people.' This development reflects Sonoco's ongoing efforts to adapt to market needs. Sonoco North America Rigid Paper Containers vice-president and general manager Elizabeth Rhue said: 'At Sonoco, we are committed to investing in the latest technology and production efficiencies to support the evolving needs of our customers. 'This investment strengthens our ability to deliver high-quality products while reinforcing our position as a trusted partner in the adhesives and sealants market.' In May this year, Sonoco published its corporate sustainability report for 2024, highlighting its shift towards more environmentally friendly practices. "Sonoco to expand adhesives and sealants production with $30m investment" was originally created and published by Packaging Gateway, 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
10-07-2025
- Business
- Zawya
UAE plays vital role in OPEC, OPEC+: Al Mazrouei
VIENNA: Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, emphasised the importance of the UAE's role in the Organisation of the Petroleum Exporting Countries (OPEC) and the OPEC+. He affirmed the UAE's support for all decisions made by the OPEC+ with the aim of achieving balance and stability in global oil markets. In statements to the Emirates News Agency (WAM) on the sideline of his participation in the 9th OPEC International Seminar in Vienna, Al Mazrouei underlined that the UAE's policy supports OPEC+ decisions and commended the wise leadership of the UAE for adopting a strategy that aims to boost the country's production capacity. He noted that this increased production capacity will be introduced into the market at the appropriate time when demand arises, stressing that such an expansion will act as a stabilising factor for markets and oil prices. He expressed satisfaction with OPEC's gradual return to the markets, highlighting that this return has not negatively impacted price stability. This, he said, proves that the organisation and the OPEC+ group are fully aware of market demands. He also projected that the group's share would increase due to anticipated investments by member countries such as the UAE, which has invested significantly in expanding its production capacity. He explained that the gradual production increases have been carefully planned and have positively contributed to reinforcing balance and stabilising prices at near-steady levels, with a slight rise that reflects an improvement in global oil demand. He commended the pivotal role played by the OPEC+ in maintaining the stability of the global oil market, stating: 'We believe this alliance plays a significant role.' He further noted that the relevant ministers and committees meet on a monthly basis to review and assess market demands and take appropriate decisions collectively as a group rather than as individual countries.
