Wednesday, February 8, 2023



GM, LG Energy Solution to build 2nd U.S. battery plant in Tennessee

By Ben Klayman DETROIT, April 16 (Reuters) - General Motors Co GM.N and South Korean joint-venture partner LG Energy Solution on Friday said they will build a second U.S. battery cell manufacturing plant, revealing plans for a $2.3 billion factory in Spring Hill, Tennessee. The planned 2.8 million-square-foot plant, scheduled to open in late 2023, will employ 1,300 people and will have production capacity of about 35 gigawatt-hours, similar to the companies' Ultium Cells joint-venture plant in Lordstown, Ohio, as they move to respond to the growing demand in the electric vehicle market. The plant's capacity would enable it...

Daimler CEO expects ‘intense competition’ if Apple and Alibaba enter electric vehicle market

While the tech giants are yet to start selling their own cars, reports suggest they could soon launch products that combine hardware and software as the electric vehicle race heats up. Shares of Daimler have skyrocketed over the last 12 months, up more than 173% year-on-year to trade at 75 euros ($89) per share on Thursday. However, Daimler’s market cap has crashed to just 80 billion euros today from around 185 billion euros in 1998. Meanwhile, Tesla’s market cap has soared to $694 billion. LONDON — The chief executive of...
South AfricaUncategorized

Rio Tinto S. African project in limbo on security fear

Rio Tinto’s Richards Bay Minerals operation is South Africa’s largest mineral sands producer. (Image courtesy of Rio Tinto.) Rio Tinto Group’s new $463 million mining project in South Africa will remain on hold until the security problems that halted work two years ago are resolved. Richards Bay Minerals, the South African unit of Rio Tinto, is in talks with the country’s authorities to permanently address violent protests around its operations before resuming work on the Zulti South project, said Werner Duvenhage, RBM’s managing director. RBM was forced to halt work at...

Rio Tinto details $47 billion 2020 economic contribution, including $8.4 billion of taxes and royalties

MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto today released its 2020 Taxes paid: Our economic contribution report, which shows the company made a total direct economic contribution of $47 billion in the countries and communities where it operates, including $8.4 billion of taxes and royalties. Despite the widespread challenges of COVID-19 in 2020, the contribution was up from the previous year, when Rio Tinto made a total direct economic contribution of $45.1 billion in the countries and communities where it operates, including $7.6 billion of taxes and royalties. Most of Rio Tinto’s taxes...

Value of top 50 mining companies surges $600 billion from covid lows Despite gold’s price slump, strong copper and iron ore prices lifted MINING.COM’s ranking of the world’s 50 most valuable miners to a new record high of $1.35 trillion at the end of the first quarter. The MINING.COM Top 50* most valuable mining companies added a combined $50 billion in market capitalization over the three months to end-March, a sharp slowdown compared to previous quarters, as the commodities rally cools and gold suffers its worst first quarter in decades. Measured from the height of the pandemic in March-April last year, the index...

Diamond Polished Prices Increased Year-on-Year

Idex reported a 3.9% increase in polished diamond prices year-on-year, the biggest surge in over two years. Prices have consistently been on the ruse since the low point of April 2020, when the price was down by 4.8%. The March increase was more than double the February rise of 1.9 %. Month-on-month prices recovered slightly, which are up by 0.2% in March, after a slight drop in February. This follows January's 1.4% leap, the biggest rise for at least three years.November was down 0.2% and December was up slightly, at...
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