BHP and Lundin Mining agreed to a $3 billion joint acquisition of South American copper explorer Filo Corp last week, marking the latest chapter of BHP’s drive to increase exposure to the metal most critical to the energy transition. The two companies will form a 50/50 joint venture to develop the Filo del Sol project, […]
> BHP last week outlined its vision for the future of its copper operations in Chile, earmarking up to $14 billion to stabilise copper production at 1.4 million tonnes from the start of the next decade. “BHP’s growth plans are bold but well-supported by strategic initiatives and detailed engineering,” said Ivan Llancas, copper analyst at Benchmark. […]
> The broad LME/CME arbitrage continues to be a talking point, even months after it collapsed as result of cathodes being precluded from US copper tariffs. The reason the topic is still being broadly discussed is because, despite the arbitrage collapsing from its heights above $2500/t it is still relatively broad. This morning the arbitrage sat […]
> South Korea’s battery industry is one of the most developed and globally integrated ecosystems in the world. Yet beneath the surface of its technical leadership lies a sense of caution: competition from China is intensifying, margins are thin, and chemistry choices are shifting rapidly. A recent visit by Benchmark’s Lithium Product Director, Cameron Perks – […]
> Zijin Mining has acquired a 24.8% stake in Zangge Mining for RMB13.7 billion ($1.87 billion), following 2024’s trend of consolidation in the lithium market through merger and acquisition activity. Zangge is operating and developing direct lithium extraction (DLE) projects in China. Zijin, on the other hand, has a more international footprint with projects in Argentina […]
> BHP’s bid to take over Anglo American for $49 billion collapsed after weeks of negotiations on Wednesday. The bid was the largest in the commodity sector’s recent history. Anglo declined to extend the 29 May deadline to allow BHP more time to make a further offer, after having already extended the deadline from a week […]
> US President Trump and Australian Prime Minister Anthony Albanese have signed a landmark Critical Minerals Framework to bolster both nations’ access to rare earths and other critical minerals, in an effort to counter China’s dominance over strategically important supply chains. The framework indicates that the two governments will utilise a range of policy instruments to […]
> South Korean steel and chemicals giant POSCO has taken a 30% stake in Australia’s Mineral Resources’ (MinRes) 50% stakes in the Mt Marion and Wodgina mines for US$765 million. Structured as a joint venture, the deal would see MinRes and POSCO hold an overall 35% and 15% of the operations, as well as corresponding rights […]
> Argentina’s lithium production is set to increase 340% between 2024 and 2035 compared to the 56% growth forecast for Chile, according to Benchmark’s Lithium Forecast. Despite this, Chile is set to maintain its position as the top producer of lithium in South America. The country is forecast to account for 44% of the region’s lithium […]