Glencore and Umicore sign up to cobalt hydroxide supply pact

first_imgAs part of a new agreement with Umicore, Glencore has agreed to supply cobalt hydroxide from its KCC and Mutanda operations in the Democratic Republic of Congo to Umicore’s battery materials value chain.Umicore has assessed each of these operations as fully compliant with its sustainable procurement framework for cobalt, which excludes artisanally-mined cobalt from its supply chain, as well as any form of child labour, the companies said.The cobalt units will be shipped to Umicore’s cobalt refineries globally, including the Kokkola refinery (Finland), which Umicore said last week it would acquire from Freeport Cobalt for a total consideration of $150 million. The Kokkola transaction is expected to be finalised by the end of the year.Glencore produced 42,200 t of cobalt in 2018, the majority of which came from its 65%-owned KCC operation and Mutanda.“The agreement guarantees Umicore’s security of supply for a substantial part of its longer-term cobalt needs for its expanding global battery materials value chain,” the companies said. “The agreement also provides Glencore long-term market access for its cobalt raw materials in line with Umicore’s growing cathode materials sales.”Marc Grynberg, CEO of Umicore, said: “Our partnership with Glencore and the acquisition of the Kokkola refinery which has just been announced demonstrate our ability to execute our growth strategy for cathode materials with consistency. The agreement also reconfirms our strong commitment to promote a sustainable battery materials value chain globally.“I am convinced that our battery cell and automotive customers will value our commitment to support their growth.”Nico Paraskevas, Head of Marketing, Copper & Cobalt, Glencore, said: “We are pleased to enter into this long-term partnership with Umicore in the fast growing electric vehicle market which further endorses Glencore’s important role in supplying the materials that enable the energy and mobility transition.”last_img read more

Civeo captures Western Australia mining market share with Action buy

first_imgCiveo Corp says it has acquired Action Industrial Catering, a provider of catering and managed services to the remote mining industry in Western Australia.Civeo, a provider of hospitality services with prominent market positions in the Canada oil sands and the Australia natural resource regions, said: “The acquisition significantly enhances Civeo Australia’s service offering and geographic footprint by providing an entry point into the growing integrated services opportunities in the Western Australian remote mining market.”Established in 1995, Action is based in Perth, Australia, and currently operates around 900,000 room nights per year for iron ore, gold, nickel and battery mineral producers. Among its contracts is an agreement with Fortescue Metals Group for catering and support services for the miner’s 1,850 room Kangi Village, based within the Solomon Hub operations in the Pilbara of Western Australia (pictured).“This acquisition brings contract visibility and strong relationships with top tier customers in Western Australia who are poised to benefit significantly from market trends, including expansionary projects in Western Australian iron ore and increasing global demand for lithium-ion batteries,” Civeo said.Bradley J Dodson, Civeo’s President and Chief Executive Officer, said: “This acquisition significantly bolsters our Australian segment, providing a strategic foothold in the large integrated services and Western Australian markets, further strengthening Civeo’s market position as an integrated service provider across Australia.”He continued: “Our acquisition of Action underlines our focus on pursuing growth opportunities that fit within our core competencies and strategic direction, while further enabling organic growth opportunities. Importantly, we are well-positioned to continue to capitalise on opportunities to grow our catering and managed services footprint in Australia as we maintain our commitment to top-tier service for all of our customers.”last_img read more