“We have already had initial discussions with the major incumbent steelmakers in the US,” Chathu Gamage, principal at RMI said.

But the increase in sales prices has not been enough to offset rises in production costs, sources reported during the assessment period.

World crude steel production for the 63 countries reporting to the World Steel Association (worldsteel) was 152.6 million tonnes (Mt) in August 2023, a 2.2% increase compared to August 2022.

Recently, South Korea’s LG Chem Ltd has entered a partnership with China’s Huayou Group’s subsidiary Youshan to build a joint electric vehicle (EV) battery material plant in Morocco to diversify its portfolio.

AUSTRALIAN VANADIUM AND TECHNOLOGY METALS AUSTRALIA AGREE A$217 MILLION MERGER

Turkey's iron ore imports totaled 635,208 mt, declining by 12.2 percent compared to the previous month

The Philippines is eager to expand economic cooperation with the United States, particularly in critical minerals and production of battery components, Philippines Foreign Minister Enrique Manalo said on Friday.

Asian Battery Minerals (ABM), which was a participant in the 2023 BHP Xplor accelerator program and is targeting potential nickel deposits in Mongolia, joined forces with Getech, a locator of subsurface resources, and just completed an initial round of explora...