IRON and STEEL
Australian miner Galaxy Resources Ltd said on Monday it has received several offers from potential partners for its flagship Sal de Vida project in Argentina.
Galaxy said in a statement that it will only proceed with a strategic partner "if the final terms of the relationship properly recognise the fundamental underlying value of Sal de Vida and the partner can add additional value to the project."
It said it would continue to develop the lithium project in the short term.
Galaxy also said that it was in talks with engineering service provider WorleyParsons which it may appoint as its project management consultant.
Galaxy sealed a deal at the end of August to sell its mining rights at another project in Argentina, the Salar del Hombre Muerto project, to South Korean steelmaker POSCO for $280 million, and said that it planned to use the funds to develop the Sal de Vida project.
Chile’s nuclear watchdog CCHEN is considering an investigation into potential fraud after an audit found that the agency for decades failed to properly record exports of ultralight battery metal lithium, documents obtained by Reuters show.
Canada’s Cobalt 27 Capital (TSXV: KBLT)(OTCQX: CBLLF)(FRA: 27O) is tapping into the lithium sector by acquiring a royalty of 1.5% of gross revenues and A$2 per tonne of ore mined at the Mount Marion lithium project in Western Australia, the latest in a series of major deals the company has announced in less than a year.
SANTIAGO – Chile will delay a previously announced arbitration with Albemarle Corp (ALB.N), the world’s top lithium producer, in anticipation that the US-based miner will make a new offer to bring it into compliance with a 2016 contract, a source close to the negotiations told Reuters.
Russia's state-owned nuclear power company Rosatom has offered Chile's government technology it says can boost output of lithium, a key ingredient in electric vehicle batteries, according to lobbyist transparency filings reviewed by Reuters.
All three major US equity indexes gained at least 4% on Wednesday, with the S&P 500 and Dow Jones closing just short of a 5% surge. It’s the first time that has happened since 2011, according to Bloomberg.
According to a prediction by POSCO Research Institute, the number of shipbuilding contracts is likely to increase by 7.7% this year.