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With a new partnership, India and the United Kingdom aim to strengthen the supply of critical raw materials and bring together industry and research. A monitoring platform is planned to improve supply chain oversight and identify risks and opportunities. At the same time, the initiative seeks to boost innovation and investment along the entire value chain. In their joint statement, the two countries acknowledged the "urgent need for action" to ensure responsible mining, refining, and recycling of critical minerals and to facilitate the transition to Net Zero. The initiative is led by the UK’s Centre for Process Innovation Limited (CPI), the Institute for Manufacturing (IfM) at the University of Cambridge, and the Indian Institute of Technology (IIT) Bombay. #rawmaterials #criticalminerals #supplychains #india #uk

With the help of rare earth elements, researchers in the U.S. have developed a coating for turbines in aircraft and power plants to operate at higher temperatures. The increased efficiency could reduce emissions and operating costs. #rareearths #criticalminerals #rawmaterials #aviation

A new report by Transport & Environment (T&E) points out that the five biggest EU countries subsidize company petrol and diesel cars with a combined $45 billion (42 billion euros) each year. With over $17 billion, Italy provides the largest amount of subsidies, followed by Germany, with roughly $15 billion annually. This is contrary to European efforts to transition towards the usage of more environmentally friendly vehicles, the organization says. In March 2023, the European Union decided to ban the sales of combustion engine cars from 2035. Germany, as one of the main subsidizers of company cars, has set an additional target of having 15 million electric cars on the road in the country by 2030. T&E urges policymakers to ramp up efforts to make corporate fleets greener. According to the organization, company cars make up around 60% of new car sales in Europe. Publishing clear policies to electrify them would have a tremendous impact on achieving climate goals while bringing investment certainty to key stakeholders within the industry, such as battery manufacturers, carmakers, and the energy sector. The full report can be found here: https://lnkd.in/ez87A2g2 Our background report on the mobility transformation: https://lnkd.in/eAwAzYJb #rawmaterials #electricvehicles #criticalminerals #renewables

A packed week with news from around the globe ends. China reported the second batch of export data while officials of the People’s Republic inked a deal with Turkey to cooperate in mining-related fields. Meanwhile, Mexico considers tax incentives to attract foreign companies in an effort to position itself as a manufacturing hub in North America—the details in our roundup. CHINA EXPORTED MORE GERMANIUM, LESS GALLIUM IN SEPTEMBER After two strong months, the export of gallium from China significantly declined in September, latest figures from the Chinese customs authority show. A total of 6,070 kilos of the metal essential for numerous high-tech applications was exported last month, with Germany being the leading destination. Exports of germanium rose, on the other hand. https://lnkd.in/e8JeyZHX CHINA AND TURKEY JOIN FORCES ON MINING, FOCUS ON CRITICAL MINERALS China and the Republic of Türkiye signed a Memorandum of Understanding to cooperate in all areas related to mining with a focus on critical minerals. The deal was inked by the Turkish energy and resource minister and his Chinese counterpart. Under the agreement, the two sides seek to expand their partnership in the mining industry and explore cooperation in Turkish critical mineral projects. https://lnkd.in/edS_vq3T EVS, BATTERIES, CHIPS: MEXICO CONSIDERS TAX INCENTIVES TO ATTRACT FOREIGN COMPANIES The Mexican government mulls tax credits to attract foreign companies to the country, Deputy Foreign Trade Minister Romano told Reuters. The measure would specifically target high-tech industries such as electric vehicles, batteries, or semiconductors, as well as companies within the rare earth sector. https://lnkd.in/eHcJspHK US: $430 MILLION TO BOOST CLEAN ENERGY MANUFACTURING IN FORMER COAL COMMUNITIES The US Department of Energy announced that it will allocate $430 million to 14 clean energy projects in former coal communities across the country. The selected companies focus on areas like the production of grid components, batteries, solar goods, and energy efficiency products, as well as recycling. https://lnkd.in/efvnYs9T THE U.S. FLOATS JOINT MARKETPLACE FOR METALS AND MINERALS The United States, in collaboration with allied nations, is working to establish an international marketplace for metals and minerals essential to the energy transition. National Security Advisor Jake Sullivan announced this during an event at the Brookings Institution, a prominent think tank based in Washington. He added that progress could be made in the coming weeks. https://lnkd.in/eJvhJU93 #rawmaterials #criticalminerals #mining #miningnews

British companies that import critical minerals for domestic manufacturing are set to be supported through government-backed loans to reduce reliance on China. According to media reports, Chancellor Rachel Reeves plans to grant them access to the UK Export Finance Agency (UKEF). The new initiative aims to facilitate financing agreements with suppliers in resource-rich Commonwealth countries such as Australia. #rawmaterials #criticalminerals #supplychains #uk

State-owned Swedish mining company LKAB has announced the next step towards diversifying its business with critical minerals. The mining company specializing in iron products will invest $75 million in a research and development center and a demonstration plant in the Swedish port town of Lulea. At the facilities, LKAB will focus on extracting and processing phosphorus and rare earth elements from material currently discarded at its iron ore mines. With the two facilities, LKAB hopes to utilize more of the material it already mines. #rawmaterials #criticalminerals #rareearths #mining

The United States expands tax cuts under the Inflation Reduction Act to critical mineral production as well as the manufacturing of some clean energy components. On Thursday, the Department of the Treasury and the Internal Revenue Service published final rules regarding the Advanced Manufacturing Production Credit, a key element of the IRA. The new rules include a ten percent tax break for applicable products, namely battery, wind, and solar components, as well as refining critical minerals. Mining costs will only qualify for tax cuts if “certain conditions are met,” the Treasury said. #rawmaterials #criticalminerals #supplychains #mineralprocessing

The United States, in collaboration with allied nations, is working to establish an international marketplace for metals and minerals essential to the energy transition. National Security Advisor Jake Sullivan announced this during an event at the Brookings Institution, a prominent think tank based in Washington. He added that progress could be made in the coming weeks. #rawmaterials #criticalminerals #mining #metals

Australia’s resources Minister, Madeleine King, will visit Japan this week to deepen ties between the two countries, mainly in the resource sector. King will hold talks with high-ranking Japanese executives and deliver a speech at a joint business conference in Nagoya. Japan is Australia’s second-largest trading partner, with two-way trade worth more than $80 billion in 2023. #rawmaterials #criticalminerals #mining #asiapacific

The US Department of Energy (DOE) announced Tuesday that it will allocate $430 million to 14 clean energy projects in former coal communities across the country. The selected companies focus on areas like the production of grid components, batteries, solar goods, and energy efficiency products, as well as recycling. The initiative is part of the Biden-Harris Administration’s Investing in America agenda, intended to strengthen domestic supply chains for clean energy technologies and bolster domestic manufacturing. #criticalminerals #rawmaterials #coal #mining #cleanenergy