EU signs critical minerals partnership with DRC, Zambia
The European Union has agreed to a partnership with the Democratic Republic of Congo (DRC) and Zambia to develop critical raw material value chains and improve rail transport connections in west Africa.
The EU, Zambia and DRC today agreed at the EU's Global Gateway Forum to closer co-operation on the integration of raw material value chains, funding for development infrastructure, sustainable and responsible raw material production, and research and development. But any concrete joint actions or funding from the agreement are yet to be announced.
Representatives of the EU, the US, Zambia, DRC and Angola also agreed their roles and objectives for developing the Lobito Corridor at the forum. The Lobito Corridor is an infrastructure project that is expected to connect parts of southern DRC and northern Zambia to the Angolan port of Lobito.
"The EU needs to secure a sustainable supply of raw materials, especially critical raw materials, as an essential prerequisite for delivering on green and clean energy objectives," the EU said.
The DRC is a major producer of cobalt, copper, tantalum and other minerals listed on the EU's critical raw material list, while Zambia is a major copper producer.
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British Steel Scunthorpe rolling may stop if BF closes
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Tokyo silent on Nippon-US Steel deal to avoid meddling
Tokyo silent on Nippon-US Steel deal to avoid meddling
Tokyo, 13 September (Argus) — The Japanese government is withholding any comment on the politically fraught acquisition of US Steel by Japan's Nippon Steel because it will create meddling, the country's trade and industry (Meti) minister said. Since Nippon Steel announced its $15bn deal to acquire US Steel in December 2023, Tokyo has remained silent despite it evoking bitter political and industrial debate. This is because any governmental comment will cause "interference in the internal affairs", Meti minister Ken Saito said on 13 September. The acquisition is facing stiff resistance from US vice-president and Democratic presidential nominee Kamala Harris who said on 2 September in Pittsburgh that "US Steel should remain US-owned and US-operated".Republican presidential nominee Donald Trump criticised the deal in February, vowing to block the sale . Criticism from both candidates is seen as an attempt to gain the support of US labour unions for their presidential election ambitions. The deal is currently under review by the Committee on Foreign Investment in the United States (CFIUS), with US President Biden possibly considering vetoing the deal. The Japanese business federation Keidanren responded with an open letter to US treasury secretary Janet Yellen, who chairs the CFIUS, expressing concern about "political pressure being brought to bear" on the committee. "We fear that the CFIUS process is being used to further political agendas that are outside the committee's purview and putting the US economy and workers at risk", the letter said. "It is critical that CFIUS remain solely focused on defending US national security while championing economic openness. That was the standard set when Congress codified CFIUS in the 1980s". Meti minister Saito did not make any further direct comment on the deal, only to reiterate that each and every transaction by US and Japanese companies are the building blocks for astrong and resilient bilateral economy. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Padnos acquires three Midwest metal recyclers
Padnos acquires three Midwest metal recyclers
Pittsburgh, 12 September (Argus) — Metal recycler Padnos has acquired three businesses in Michigan and Indiana, the company said Wednesday. The Holland, Michigan-based company purchased the Sam Winer and Company scrap yard in Elkhart, Indiana, Howe Auto Sales in Bay City, Michigan, and Grandpa's Garage in Traverse City, Michigan. Grandpa's Garage is located next door to Padnos' Traverse City facility, allowing the company to expand that location. Financial details of the transactions were not disclosed. Padnos now operates 30 recycling facilities in Michigan and Indiana. By James Marshall Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Mexico’s July industrial output growth slows to 0.2pc
Mexico’s July industrial output growth slows to 0.2pc
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