Japan's Toyota, SMM eye joint battery materials output

Market: Battery materials, Metals
08/10/25

Japanese automaker Toyota and trading house Sumitomo Metal Mining (SMM) have agreed to jointly develop and produce cathode materials for all solid-state batteries used in battery electric vehicles (BEVs), as part of SMM's efforts to revamp its battery materials involvement.

SMM is looking to supply the newly developed cathode material and is gunning for mass production, said the two firms on 8 October, while Toyota is targeting to launch BEVs equipped with all solid-state batteries in the market in 2027-28. Joint research between the two firms on cathode materials for all solid-state batteries began in 2021 and they have developed a "highly durable" material, they said.

Hybrid EVs continued to drive global EV sales by Toyota and its luxury division Lexus in April-June. The firms sold 1.165mn units of hybrid EVs in the period, up by 17pc on the year, while sales of plug-in hybrid EVs and BEVs each totalled only 47,000 units respectively.

SMM earlier this year outlined its new business plans for the coming three financial years, including a focus to rebuild its battery materials business. The firm suffered setbacks from its longstanding focus on nickel-cobalt-aluminum oxide (NCA) materials owing to a rapid market shift from NCA to high-nickel nickel-manganese-cobalt (NCM) cathode materials. It had close to 60,000 t/yr of NCA production capacity.

But a switch in product focus took place as soon as the firm realised the market shift. "We had no choice but to halt existing equipment and change the production process, which led to a decline in the production and sales volumes of nickel-based cathode materials," said SMM in May. Its battery materials business recorded ¥57.3bn ($374mn) in impairment losses over its April 2024-March 2025 financial year.

SMM also has a long-term capacity target of 150,000 t/yr for nickel and 300,000 t/yr for copper. But it warned its investors of tailwinds over the next three years, citing prolonged nickel oversupply given strong Indonesian output, slumping copper treatment and refining charges and new copper smelter capacities.

By Joseph Ho

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18/11/25

Rio Tinto backs low-CO2 iron plant: Correction

Corrects figure for the amount of hydrogen needed by Fortescue to produce iron in paragraph 4 Sydney, 18 November (Argus) — UK-Australian iron ore producer Rio Tinto will invest A$35mn ($23mn) into Australian technology developer Calix to help it build a 30,000 t/yr hydrogen-based direct reduction iron and hot briquetted iron demonstration plant in Kwinana. Rio Tinto's investment package includes A$8mn in cash, 10,000t of Pilbara iron ore, and other in-kind support, Calix said on 17 November. Rio Tinto will be able to market and use Calix's developing technology, on a non-exclusive basis, under the deal, the iron ore producer said. Rio Tinto's Pilbara ore will support early work at the demonstration plant. But Calix will use a range of ore grades and types at the site, including lower-grade fines. Lower-emissions iron projects generally use higher-grade magnetite ore. Calix's Zero Emissions Steel Technology (Zesty) process uses 54kg of hydrogen to produce 1t of iron, the company said on 23 July. Australian producer Fortescue expects to use 51kg of hydrogen to make 1t of iron. Calix plans to open its Zesty demonstration plant in 2028. The Australian Renewable Energy Agency awarded Calix a A$45mn grant to support the project in July. Calix will build the plant on the proposed site of Rio Tinto's BioIron pilot plant. Rio Tinto has planned to produce 1 t/hr of iron using biomass and iron ore at the site. But the company is still working on BioIron's final design, it said today. Rio Tinto has not announced a timeline for its BioIron project. Rio Tinto is also working on other low-emission iron projects. It is part of the NeoSmelt consortium — made up of five major metals and energy producers — that is developing a 30,000-40,000 t/yr direct reduction iron plant. NeoSmelt may further process iron produced by Calix, Rio Tinto said. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Policy change in Argentina may boost Copper mining

17/11/25

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17/11/25

Policy change in Argentina may boost Copper mining

Sao Paulo, 17 November (Argus) — Argentina's President Javier Milei is considering a policy change that would revise the country's glacier protection law, potentially facilitating expanded copper mining in areas currently restricted under existing regulations. Milei plans to request congress make a fundamental review of Argentina's glacier protection legislation known as Glaciers Law, he said at a market event that was broadcasted online on 14 November. The law, among other restrictions, forbids mineral exploration and extraction within the glaciers' perimeter, which is currently set by the Argentinian institute of nivology, glaciology and environmental sciences (IANIGLA) based on unclear criteria, Milei said. The IANIGLA's legal text currently states that a glacier is "any stable or slowly flowing perennial ice mass, regardless of shape, size, or conservation state, including rocky debris and internal or surface water courses," adding that its perimeters are frozen or ice-saturated soils that help regulate water resources. "The glacial perimeters are not well defined," Milei said, "and because they are not well-defined, the environmentalists rather [Argentina] to starve than to come close to the glaciers." The president wants to transfer the authority to set perimeter boundaries to the provincial governments, claiming that the glaciers' areas are too large, which blocks — in Milei's words — Argentina's "God-given" resources and curtails the country's mining prowess. "It seems to me that it would be better for each province to determine which areas are considered glacier zones," Milei said. "We could finally start taking advantage of the natural resources that have been made available to us." By giving provincial governments the authority to define glacier perimeters, it could become easier to identify which areas are truly off-limits, providing greater legal certainty for foreign companies considering investment in Argentinian mining. Provinces could also effectively reduce the size of protected glacier areas, expanding the land available for extraction. Several copper resources located near the Andes and its glaciers could be unlocked by the change, increasing Argentina's timid copper output. Despite having 116mn metric tonnes of copper resources, it was only able to export $4bn of the metal last year — while Chile, which is located on the other side of the Andes, sold $50bn, according to Milei. It is unclear how much copper is under glacial perimeters, but major copper projects in the San Juan province — BHP/Lundin's Vicuña and Glencore's El Pachón — are located near glaciers and could be benefited by major resource increases if the policy is changed. The law change, combined with the country's federal investment incentive program (RIGI) — which offers tax breaks and 40-year legal stability for large-scale projects such as new mines — could attract more foreign investment and lead the way for new mining developments in Argentina. Rio Tinto only bought its way into Argentina because of the country's newly-established legal stability guarantees, its former chief-executive Jacob Stausholm said . Proposals to change the Glacier Law are not new and have always had staunch backlash from environmental agencies, such as Greenpeace, which said this would be opening a path to destroy most of Argentina's glacial environment, putting the country's water security at risk. The glacier's meltwater regulates rivers all across the country and serves as the primary feedstock for several agricultural projects. "We will not allow them to touch the Glaciers Law. And we will not support them issuing a sentence against the Argentinian glaciers," Greenpeace said. By Pedro Consoli Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Turkish re-rollers target EU auto clients for HDG sales

17/11/25

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17/11/25

Turkish re-rollers target EU auto clients for HDG sales

London, 17 November (Argus) — Turkish re-rollers are increasingly prioritising automotive clients in the EU for hot-dip galvanised (HDG) sales in the first quarter of 2026, as they seek more stable, long-term orders, with protectionist measures weighing on demand from traders and steel service centres. Mills are struggling to maintain traditional export flows ahead of the carbon border adjustment mechanism (CBAM) coming into force in January and the post-safeguard regime expected next year. These changes have made short-term spot sales less attractive and re-rollers are focusing on long-term automotive contracts that offer more predictable demand and stronger profit margins. Mills are now targeting downstream manufacturers rather than traders and steelmakers. "Working with traders right now is not very profitable," a producer said. Turkish steel exports to the EU are sluggish for the time being because of uncertainty over when the post-safeguard mechanism will be implemented next year. Market participants expect quotas to be sharply reduced, while CBAM -related taxes will raise offers. Exporters said they are challenged by weak buying interest as most customers remain in wait-and-see mode. "Even our regular clients have stopped placing orders because they do not want to purchase without knowing how much tax they are going to pay on top," a re-roller said. This situation has prompted re-rollers to secure automotive contracts in the EU, which offer stronger demand compared with other sectors. The removal of country specific quota caps for HDG 4B under EU safeguard rules has also raised expectations among Turkish market participants that allocations for this category will be less restrictive. "When the country caps were introduced for 4B, it gathered a lot of backlash and they removed it eventually. I think it's going to be somewhat less affected than the others," a re-roller said. Automotive demand in Spain is currently strong, with passenger car production recording consecutive monthly increases in January-September, according to European Automobile Manufacturers Association data. Germany also provides substantial demand because of its higher production capacity, but "it is a difficult market to penetrate", a seller said. Romania has created steady demand for HDG 4B, but some Turkish re-rollers said only a few suppliers dominate that area, leaving little room for others. In the domestic market, automotive and automotive parts producers are generating higher steel demand than other downstream industries. Demand is particularly strong as automotive buyers rush to place orders before January to avoid price increases. "It would be wrong to say the Turkish automotive industry is booming, but it is still doing better than other industries, especially the white goods sector," a re-roller said. "Auto sales are where most of our profit is coming from right now," a steel service centre added. By Elif Eyuboglu Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Chile turning right in presidential elections

17/11/25

News

17/11/25

Chile turning right in presidential elections

Santiago, 16 November (Argus) — Far right Juan Antonio Kast and communist Jeannette Jara, who represents a coalition of left and centrist parties, got the most votes in Chile's presidential elections on Sunday and will face each other in a runoff on 14 December. Forecasts call for 59-year-old Kast, founder of the Republican Party of Chile, to comfortably beat 51-year-old Jara in the second round by picking up the votes of other rightwing candidates. Combined this would give Kast more than 50pc of the vote. Jara was chosen to run for president in a center-left primary and faced no real contenders on the left in the first round. With almost 78pc of polling stations counted, Jara led with 27pc of the votes against Kast's 24pc but far from the 50pc required to win outright. Concerns about rising crime and immigration have dominated the campaign. Kast promises an "emergency government" that would use physical barriers to shut the border to illegal immigrants, expel undocumented migrants and crack down on organized crime. He has attacked Jara, a former minister in leftwing President Gabriel Boric's government, for representing continuity to an unpopular government. Boric's approval rating is 30pc. Jara has tried to distance herself from the Boric government and raised the possibility of renouncing or suspending her communist party membership if elected. Populist Franco Parisi placed a surprising third with around 19pc of the votes, Johannes Kaiser who is to the right of Kast picked up 14pc and center-right former mayor Evelyn Matthei, once a front-runner, scraped 13pc. Jara's result is well below the 30pc ceiling her team expected and unlikely to provide sufficient momentum to win enough voters put off by the ultraconservative Kast who opposes abortion and same-sex marriage. An admirer of Chile's former authoritarian dictator Augusto Pinochet, Kast has promised to cut public spending by $6bn in 18 months — the equivalent to 1.7pc of GDP — and reduce corporate tax to 23pc from 27pc. Jara says she will boost the minimum wage, ease permitting and build Chile's green hydrogen potential and massive copper and lithium resources to attract foreign investment. She also promises to cut electricity rates by 20pc for the first 85kWh of consumption per month. The right's strong showing in the presidential election suggests it will also do well in the congressional elections for the chamber of deputies and half of the senate, with votes still being counted. Earlier polls suggested the right could win a majority in both houses. By Emily Russell Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Sigma paused mine in 3Q, will sell Li tailings

14/11/25

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14/11/25

Sigma paused mine in 3Q, will sell Li tailings

Sao Paulo, 14 November (Argus) — Sigma Lithium confirmed it froze production at its flagship project in Brazil between late September and for the entirety of October in order to upgrade mining equipment, which curtailed output in the period. Sigma on 6 October said that it would be enhancing its mining efficiency by switching feedstock providers and upgrading equipment at its Grota do Cirilo mine, in Brazil. The plant began to phase down in September and was shutdown in October, which led to a "significant production decrease," the company's chief executive Ana Cabral said during an earnings call. Third quarter output fell to 44,000 metric tonnes (t) of spodumene, a 27pc decrease over the year and a 36pc sequential drop from the previous quarter. Sigma also failed to export any material in October because of the mining halt. The mine was restarted earlier this week and will ramp up back to normal production levels in the next 2-3 weeks, Cabral said. Sigma declined to share its fourth quarter production guidance, saying it would do so after production resumed. Given the upgrades, however, the company expects to produce 73,000t in the first quarter of 2026, which would be a 6.8pc increased compared to the same period this year. The miner also revised the delivery timeline for its first expansion, now scheduled for completion by the end of 2026, which will lift Grota do Cirilo's total capacity to 520,000t/yr from 245,000t/yr today. It sold 48,600t of spodumene for a total net revenue of $28.5mn in the third quarter. Li tailings will be sold to China Sigma will also begin to sell chemically unaffected dry lithium tailings to Chinese buyers in order to maximize profits and monetize "all lithium we have", Cabral said. The company plans on offloading 950,000t of dry, solid mining byproducts with 1-1.3pc lithium concentration to buyers in China. The company quoted the tailings — which it calls "lithium middlings" — at $120/t at current market prices, which would bring $33mn of additional revenue in the fourth quarter, according to Cabral. There are 100,000t of "middlings" stocked at the port of Vitoria and another 850,000t at the mine, with shipping to China priced at $40/t and $85/t, respectively. Sigma commits first Li batches The company said it secured two offtake agreements with different clients and is negotiating a third to be sealed by year's end. Sigma has, for the first time, committed 100,000t of spodumene to two different customers through long-term offtake agreements. The first agreement covers 80,000t and is structured as a three-month rolling contract at market prices. Under this arrangement, the customer prepays for upcoming production, with payments extending until 30 March 2026. Sigma plans to use the funds as working capital. In the second offtake, the customer has paid $25mn up front in exchange for 20,000t of production over the next three years. Sigma intends to use this funding to support its recent mining upgrade. The company is also negotiating a third offtake with a European-based trading company to partly fund its expansion plans. It expects to close a three-year contract for 40,000t, valued at $51mn upfront, by year-end —bringing total committed production to 140,000t. Additionally, Sigma is in talks for two more offtakes totaling 260,000t, scheduled to close in 2026: one for 80,000t over three years at $100mn, and another for 40,000 t over three years at $51mn. The proceeds from these agreements will be used to repay shareholder debt and fund growth initiatives, respectively. Overall, the miner is set to commit 400,000t of spodumene by the end of 2029. By Pedro Consoli Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Japan's Toyota, SMM eye joint battery materials output

Related news posts

Rio Tinto backs low-CO2 iron plant: Correction

Rio Tinto backs low-CO2 iron plant: Correction

Policy change in Argentina may boost Copper mining

Policy change in Argentina may boost Copper mining

Turkish re-rollers target EU auto clients for HDG sales

Turkish re-rollers target EU auto clients for HDG sales

Chile turning right in presidential elections

Chile turning right in presidential elections

Sigma paused mine in 3Q, will sell Li tailings

Sigma paused mine in 3Q, will sell Li tailings

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