UAE’s Titan to acquire Australia’s Global Lithium

Market: Metals
22/09/26

UAE-headquartered critical minerals group Titan Lithium will buy Australian developer Global Lithium (GL1), pledging a A$120mn ($85mn) loan facility for the latter's Manna lithium project in Western Australia, which is targeting first spodumene shipments from mid-2028.

GL1 has entered a binding scheme implementation deed with Titan Australia, a part of UAE-headquartered Titan Lithium, GL1 said on 22 September. The deal valued GL1 at A$333mn.

The company is targeting a final investment decision (FID) for the Manna project by the end of 2026. Construction will commence following the FID, with first shipments from the project expected in June 2028.

Funding for the Manna project will mitigate execution risks associated with the project during a volatile time for lithium markets, GL1 said.

Titan expects the deal will support its vertically integrated lithium strategy, which includes ownership of resources and large-scale downstream processing facilities. The company is developing a battery-grade lithium processing facility in Abu Dhabi and is aiming to become the largest global lithium producer by 2030. GL1's lithium assets will provide Titan with a potential long-term source of feedstock for its Abu Dhabi operations.

The deal remains subject to board and shareholder approval. A meeting to approve the scheme will be held in December, GL1 said, and implementation is scheduled for mid-January 2027.

By Emma Partis

Australian lithium concentrate prices 2026 ($/t)

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News

19/09/26

EU proposes scrap export restrictions to key markets

London, 19 September (Argus) — The European Commission has proposed excluding a number of major ferrous scrap-consuming countries from receiving EU material when new waste export restrictions take effect in May 2027, potentially disrupting established scrap trade flows. On 18 September the Commission published a draft list of non-OECD countries authorised to receive specified non-hazardous waste. Thirty-two countries requested continued access, but the draft would exclude major ferrous scrap importers including Egypt, Morocco, Bangladesh, India and Pakistan from receiving the relevant material. Interested parties have time until 16 October to comment. EU ferrous scrap flows to some affected steelmaking markets have risen sharply in the last few years. Egypt imported 1.86mn t in 2025 and 947,000t in January-July 2026, up by 34pc on the year, according to Global Trade Tracker (GTT) data. Morocco's imports rose by 77pc to 340,000t, while Pakistan's increased by 56pc to 333,000t. India's imports fell by 22pc to 423,000t. The measure comes amid a wider EU push to decarbonise and strengthen the competitiveness of its steel industry, including through the Carbon Border Adjustment Mechanism, which entered its definitive phase in January. The restrictions stem from the EU's Waste Shipment Regulation, adopted in 2024. Under the new regime, non-OECD countries must demonstrate that individual waste streams can be managed in an environmentally sound manner to retain access to EU supply. Countries excluded from the final list can reapply, but exports of unauthorised waste streams will be prohibited from 21 May 2027. The first authorised-country list is expected by the end of 2026. Recycling Europe, the European recyclers' association, condemned the proposal, warning that it could effectively close key non-OECD Asian markets to EU recycled metals. It said the Commission was unfairly singling out ferrous and non-ferrous scrap on environmental grounds, despite existing EU rules already distinguishing between hazardous and non-hazardous waste. By Katya Ourakova Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Find out more

News

Australia's Arafura, wind turbine OEM extend RE deal

18/09/26

News

18/09/26

Australia's Arafura, wind turbine OEM extend RE deal

Sydney, 18 September (Argus) — Australian minerals developer Arafura Rare Earths has extended a binding offtake agreement with an existing partner, specified only as a global wind turbine original equipment manufacturer (OEM), for up to eight years. The extended deal will cover 500 t/yr of neodymium praseodymium (NdPr) oxide equivalent for five years, with an option to extend it to eight years, the company said on 18 September. The offtake volumes will be priced against a global seaborne index, the company said, adding that it will no longer disclose the identities of offtake partners to protect commercially sensitive information. Arafura signed a five-year offtake deal with Germany-based manufacturer Siemens in 2023 for use in its offshore wind turbines. The deal had an option to extend for a further two years, and covered up to 400 t/yr of NdPr metal or 520 t/yr of NdPr oxide equivalent over the term of the deal. The deal stipulated financing and project development milestones for Arafura, to be met by 30 September 2026 unless otherwise agreed. Arafura reached a final investment decision on its Nolans project in the Northern Territory in May. It expects to begin production of 4,440 t/yr of NdPr oxide and 470 t/yr of mixed medium-heavy rare earth oxide containing dysprosium and terbium (DyTb) by early-to-mid 2029. NdPr and DyTb are used in neodymium-boron-iron (NdFeB) rare earth permanent magnets, which form a critical part of direct-drive wind turbines. Direct-drive wind turbines do not need a gearbox, which greatly reduces the frequency of mechanical failure, according to the IEA. Wind energy sector demand for NdFeB magnets in the is growing faster than electric vehicles (EVs). The rate of global wind power installations is projected to more than triple from 9.25 GW/yr in 2025 to 33.65 GW/yr in 2030, according to Argus Analytics . Meanwhile, global EV sales are expected to increase by around 61pc to 38.8mn units/yr in 2030. Argus -assessed NdPr oxide min 99pc cif Europe was up $4/kg on the week at $115/kg on 17 September ( see graph ). By Daniel Gage-Brown NdPr prices 2025-26 USD/kg Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

China's Zhongjin Lingnan resumes zinc mine

17/09/26

News

17/09/26

China's Zhongjin Lingnan resumes zinc mine

Shanghai, 17 September (Argus) — Major Chinese zinc and lead producer Shenzhen Zhongjin Lingnan has resumed operations at its Fankou zinc-lead mine, the company announced today. The company announced on 5 August that the operations at its Fankou zinc-lead mine had been suspended following a roof-collapse accident that resulted in one fatality. The company has not disclosed the total production loss resulting from the suspension. Zhongjin Lingnan produced 253,805t of contained zinc and lead in concentrate in 2025. The Fankou mine accounts for around half of the company's concentrate output, producing about 120,000-130,000 t/yr of contained zinc and lead, according to the company. China's zinc concentrate market has been extremely tight this year, because of global mines disruptions and higher domestic refined zinc production supported by high sulphuric acid by-product prices. Argus assessed imported zinc concentrate TCs at -$130/dry metric tonne (dmt) to -$105/dmt on 16 September, down significantly from -$20/dmt to $10/dmt on 8 April. The resumption of the Fankou mine is unlikely to reverse the deeply negative TC environment, market participants said. Smelters typically begin replenishing concentrate inventories in late September or early October ahead of winter operations, which is likely to exert further downward pressure on concentrate TCs in the coming months. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

China's HBIS raises ferro-silicon tender in September

17/09/26

News

17/09/26

China's HBIS raises ferro-silicon tender in September

Beijing, 17 September (Argus) — Chinese state-owned steel producer Hebei Iron and Steel (HBIS) has raised its tender price for September ferro-silicon, in response to higher spot offers of the bulk alloy. Its tender price for 72pc ferro-silicon rose to 6,340 yuan/t ($946/t) in September, up by Yn160/t from August and by Yn40/t from its provisional tender price, according to market sources. Ferro-silicon producers have raised their offers, driven by higher production costs of coke and semi-coke feedstocks, linked to firmer coal prices. Coal prices rose in the first half of September because of tightening supply, with a number of mines in Shanxi province remaining closed or operating under enhanced safety inspections. Shanxi is China's largest coal-producing province and a key production hub for magnesium metal, coke and ferro-alloys. Several other steel mills also boosted their purchase prices for the bulk alloy to Yn6,200-6,400/t delivered and paid by acceptance bill for September delivery, up by Yn100-200/t against the previous month. Argus- assessed prices for 72pc ferro-silicon hit a 20-month high at Yn5,900-6,000/t ex-works on 8 September, up by Yn150/t from the previous assessment on 1 September. But prices fell to Yn5,700-5,800/t on 15 September, tracking lower future prices. HBIS purchased 3,804t of ferro-silicon in September, up by 164t from August, as it increased operating rates after regular equipment maintenance in August. HBIS produced 16.44mn t of crude steel in January-June this year and bought 31,263t of ferro-silicon in 2025, according to its half-year report and industrial data. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Canadian copper miner expands Panama shipments

16/09/26

News

16/09/26

Canadian copper miner expands Panama shipments

Kingston, 16 September (Argus) — Canadian miner First Quantum continued to ship copper concentrate produced in Panama this week, Panama's commerce minister Julio Molto said. The firm shipped 38,000 metric tonnes (t) to India, after sending a combined 33,000t to Spain and Bulgaria in August from the stockpile of about 38mn t at its shuttered mine that was operated by its subsidiary Minera Panama. The shipments are from output that was accumulated before Panama's supreme court ordered the mine closed at the end of 2023, citing an unconstitutional license. About 6.3mn t of copper ore from the closed mine have been processed, leaving 31.6mn t that will be processed "in another 13 months," Molto said. Panama's president Jose Raul Mulino created a ministerial committee in July to decide the fate of the mine, "but there is no planned reopening" as the government is "respecting and abiding by the supreme court ruling", Molto said. The mine and the remaining risks were not declared unconstitutional and the government does not have the technical capacity to manage such a major enterprise, he said. "The accumulated concentrate is being managed within the framework of a safe preservation plan," he added. "We could not abandon the stockpile." Panama's commerce ministry in April authorized Minera Panama to export the material as the government delayed until the end of the year a decision on the future of the $10bn investment by First Quantum that produced 331,000t in 2023. The stockpiled ore is intended to "mitigate environmental and operational risks associated with prolonged on-site storage," First Quantum said. "This activity does not constitute a reopening of the mine and will not involve any new drilling, blasting, or reactivation of mining operations", it added. The supreme court's order to close the mine followed several weeks of street protests over the terms given to First Quantum for the continued operation of the mine. The mine was accounting for about 40pc of First Quantum's annual revenue and 1.5pc of global copper output when it was closed, according to the company. The closure has cost Panama $6.5bn, equivalent to more than 5pc of its economic output, the government said. By Canute James Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more