Latest news with #CriticalMinerals
Cision Canada
6 days ago
- Business
- Cision Canada
EDC supports Canada's critical minerals sector with $110 million financing for Torngat Metals Français
Financing will support pre-construction activities for the Strange Lake project OTTAWA, ON, June 17, 2025 /CNW/ - Today, Export Development Canada (EDC) is announcing a $110 million bridge financing to Torngat Metals to support the next phase of its Strange Lake rare earth project. Anticipated to be one of the largest heavy rare earth deposits outside of China, the Strange Lake Project could play an important role in strengthening Canada's mining supply chain, while also creating jobs and enhancing Canada's global competitiveness. Once in operation, the project will employ approximately 450 workers, with a focus on Indigenous recruitment from Quebec and Labrador, fostering economic reconciliation and community-driven development. As part of the project, Torngat Metals aims to develop an open-pit mine site and concentration plant in Nunavik, along with a single-lane access road linking the site to Labrador and a separation plant. EDC's financing will support pre-construction activities, including engineering and environmental studies. This marks the first time EDC has extended financing to an early-stage mining project, reflecting its commitment to support the responsible development of the critical minerals sector in Canada and to contribute to the Government of Canada's Critical Minerals Strategy. The Canada Infrastructure Bank (CIB) is committed to provide a $55 million enabling infrastructure loan which will help upsize EDC's bridge loan facility to further advance the next stage of the project. With complementary financing capabilities, CIB and EDC are well-equipped to attract private sector investment and drive the growth of Canada's critical minerals infrastructure. "This is a first-of-its-kind transaction for EDC, reflecting our commitment to taking strategic risk for sectors of strategic interest. The well-capitalized nature of the Strange Lake project allowed us to seize the opportunity to do something unprecedented—providing early-stage financing for critical mineral development," said Alison Nankivell, EDC's President and CEO. "Canada is in a nation-building moment and EDC is proud to support this project, which could have a transformative impact on Canada becoming a reliable and responsible source of rare earth minerals." "Canada has the potential to bring a significant amount of critical minerals into production, supporting electrification, decarbonization, and national security," said The Honourable Maninder Sidhu, Minister of International Trade. "EDC's financing reinforces the Government of Canada's commitment to enabling sustainable and strategic growth for Canada's critical mineral development. The Strange Lake Project supports Canada's long-term vision for a secure and sustainable critical minerals industry, which is essential to the global energy transition." "We are pleased to partner with EDC to advance the Strange Lake project, a milestone in Canada's rare earth development," said Yves Leduc, Chief Executive Officer of Torngat Metals. "EDC's financing will allow us to move forward with essential pre-construction activities, contributing to the establishment of a responsible rare earth supply chain in Canada, which is vital for the global energy transition." EDC has a long-standing history of supporting Canada's mining industry, helping businesses across the minerals and metals supply chain. This project has the potential to boost Canada's global competitiveness in the international rare earth market. About EDC Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit
Yahoo
11-06-2025
- Business
- Yahoo
High-Level Financial Roundtable at the Brazil Lithium & Critical Minerals Summit 2025 Drives Capital Mobilisation for Brazil's Critical Minerals Sector
London, United Kingdom--(Newsfile Corp. - June 11, 2025) - (The Net-Zero Circle) The "Critical Minerals & Capital - An Exclusive Dialogue" Financial Roundtable took place last week at the Niemeyer Room of the Ouro Minas Hotel during the 2nd Brazil Lithium & Critical Minerals Summit 2025, organized by IN-VR and Invest Minas. This invitation-only, strategic session gathered an elite group of financiers, investors, mining operators, government representatives, and technology providers for an in-depth dialogue on accelerating investment flows into Brazil's rapidly growing critical minerals sector. As Brazil cements its role as a global powerhouse in lithium, nickel, graphite, and other essential minerals, this roundtable offered a unique platform to explore innovative financing solutions and foster collaboration among key stakeholders in the critical minerals value chain. Key themes discussed included: Innovative financing mechanisms tailored for lithium and critical mineral projects Challenges and opportunities in early-stage and infrastructure funding The pivotal role of public-private partnerships and development bank support ESG-linked finance and sustainability criteria shaping capital allocation Policy and regulatory frameworks influencing investor confidence Case studies showcasing successful financing structures in Latin America Held in a focused and facilitated format, the roundtable encouraged active participant engagement, enabling representatives to share their portfolios, highlight investment priorities, and identify pathways for strategic collaboration. Prominent participants included representatives from: UK Export Finance (UKEF) Brazilian Development Bank (BNDES) Ministry of Finance (Ministério da Fazenda) Toronto Stock Exchange European Investment Bank UK Government Mining operators including Pilbara Minerals (PLS), Companhia Brasileira de Lítio (CBL), Atlas Lithium, Perpetual Resources, Spark Energy Minerals, Aclara Resources Financial institutions such as Banco Safra, Banco do Nordeste, Prisma Capital, Regia Capital, BDMG, YVY Capital, and Ore Investment - "I'm proud to say that Minas Gerais provides the legal and political stability necessary for sector development." – Ronaldo Barquette, Director of Investment Attraction at Invest Minas; - "I'm available to collaborate with financial institutions on matters related to mineral rights." – Caio Trivellato, Director at National Mining Agency (ANM); (Klaus Petersen from Viridis Mining, Ronaldo Barquette from Invest Minas and Guillaume Legaré from Toronto Stock Exchange at the Financial Roundtable)To view an enhanced version of this graphic, please visit: Minas Gerais stands at the heart of Brazil's critical minerals landscape, supported by the region's rich mineral endowments and Brazil's strategic commitment to the global energy transition. This roundtable reinforces Minas Gerais' position as a hub for capital mobilization, innovation, and sustainable mining development. The Financial Roundtable at the Brazil Lithium & Critical Minerals Summit 2025 exemplifies the critical role of strategic, high-level collaboration in unlocking investment and accelerating responsible development within Brazil's vital mineral sectors. About IN-VRIN-VR is a leading global consultancy specializing in energy, mining, and investment promotion, bridging the gap between governments and the private sector. With a track record of organizing premier industry summits, IN-VR facilitates high-impact investment opportunities and strategic collaborations worldwide. About Invest MinasInvest Minas is the investment promotion agency of Minas Gerais, dedicated to attracting foreign investment and fostering economic development in Brazil's lithium and critical minerals sector. For media inquiries, or to schedule interviews, please contact:Alberto CruzAssociate Marketing Director, IN-VRe-mail: alberto@ END OF PRESS RELEASE. To view the source version of this press release, please visit 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
Reuters
04-06-2025
- Business
- Reuters
China's critical minerals, metal tariffs, Dutch immigration and Spain's ghost towns
Follow on Apple or Spotify. Listen on the Reuters app. Global automakers have joined their U.S. counterparts to warn about the impact of China's restrictions on critical minerals. The U.S. tariff rate on most imported steel and aluminum has doubled, as President Donald Trump ratchets up a global trade war. Dutch far-right leader Geert Wilders is gambling that his hardline immigration stance will propel him to power in a snap election. And how Madrid's so-called "ghost towns" are being revitalized in an attempt to solve the Spanish capital's housing crisis. Sign up for the Reuters Econ World newsletter here. Listen to the Reuters Econ World podcast here. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit to opt out of targeted advertising. Further Reading Satellite imagery shows Ukraine attack destroyed and damaged Russian bombers Musk calls Trump's tax-cut and spending bill 'a disgusting abomination' South Korea's new President Lee vows to revive democracy from 'near demise' Family of Colorado fire-bomb suspect taken into ICE custody Further Listening: Gen Z gender divide and the reshaping of democracy Recommended Read: Scientists in Japan develop plastic that dissolves in seawater within hours
Yahoo
30-05-2025
- 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.
