Transition Elements Plans Lithium Exploration in Southern France
Transition Elements, a Norwegian company, has submitted an application to the prefecture of the Hérault department in southern France for an exclusive license to explore and prospect for lithium deposits. The company’s proposal covers a 218-square-kilometer area, where it intends to conduct a multi-phase geological exploration program. The initial stage will focus on collecting rock samples and mapping the area, followed by at least a year of geological analysis. Subsequently, geophysical surveys are planned to further assess the site’s potential.
This application is part of a broader licensing contest for lithium exploration in the region, which was announced in April and will continue until July. The authorities have not yet indicated whether Transition Elements’ application will be approved, and the process remains competitive and uncertain.
Local officials are paying close attention to the environmental implications of the project. Francis Barssa, the mayor of Bedarrie, noted that while it is too early to assess the potential benefits for the region, strict oversight of environmental risks is essential, particularly with respect to drilling wells that could intersect aquifers used for drinking water and irrigation.
Geologists have identified promising lithium concentrations in both igneous and sedimentary rocks in the region, but the true extent of the reserves will depend on the results of detailed exploration. Transition Elements aims to extract lithium from underground brines, a method that involves bringing the brine to the surface, separating the lithium, and then reinjecting the processed brine underground. The targeted brines are located below the aquifers that supply water to local communities and agricultural operations.
Currently, France does not produce lithium domestically, but the government is actively encouraging exploration and development of lithium resources to support the country’s electric vehicle and battery industries. This initiative aligns with broader European efforts to secure critical raw materials and reduce reliance on imports.
Emirates Global Aluminium to Build Aluminium Plant in the United States
Emirates Global Aluminium has announced plans to invest $4 billion in constructing a new aluminium plant in the United States, with a projected annual capacity of 600,000 tonnes. This facility, which is expected to be located near the river port of Tulsa, Oklahoma, would nearly double the country’s primary aluminium production capacity.
The announcement comes soon after a visit by US President Donald Trump to Gulf countries, during which the UAE government pledged $200 billion in investments by national businesses in the US economy. Emirates Global Aluminium’s decision to build in the US is also influenced by the desire to avoid high tariffs on aluminium imports, including a 25% aluminium tariff and an additional 10% reciprocal tariff.
In November of the previous year, Emirates Global Aluminium acquired Spectro Alloys, an American aluminium scrap recycler. The company plans to expand Spectro Alloys’ operations by adding a new line for producing recycled aluminium profiles with a capacity of 55,000 tonnes per year, supplementing the existing smelting furnaces with a total capacity of 110,000 tonnes per year.
Discussions are underway with Oklahoma state authorities regarding long-term electricity supply contracts and potential tax and other incentives for the new plant. The feasibility study for the project is expected to be completed in the first half of 2026, with construction scheduled to begin later that year. The first phase of the plant is anticipated to be commissioned no earlier than 2030.
In a related development, Century Aluminum, a US-based company, announced at the beginning of 2025 that it would begin work on a new primary aluminium smelter. The location for this facility has not yet been finalized, but the company is considering sites in the Ohio or Mississippi River basins. Century Aluminum projects that construction will create 5,500 jobs, with over 1,000 permanent positions to follow. The company is partnering with local colleges to recruit and train workers for the new facility.
Century Aluminum previously secured a $500 million grant from the US Department of Energy and signed a cooperation agreement as part of efforts to strengthen domestic industry and lower carbon emissions. These funds are being provided under infrastructure and job investment and inflation reduction laws.
Aluminium remains a critical metal for the US economy, supporting industries such as automotive manufacturing and food packaging. Despite this, primary aluminium production in the US has declined due to high electricity costs and fluctuations in alumina prices. In 2019, the US produced 1 million tonnes of primary aluminium and 3 million tonnes of secondary aluminium. By 2023, primary production had dropped to 750,000 tonnes, while imports of aluminium and aluminium-based products rose to 4.8 million tonnes to make up for the shortfall.
BHP Group and Lundin Mining to Develop Major Copper Deposit
BHP Group and Lundin Mining have reached an agreement to jointly acquire Filo Corporation, which is developing the Filo del Sol deposit on the border between Argentina and Chile. This copper deposit is regarded as one of the world’s largest, with current estimates indicating at least 13 million tonnes of copper, alongside substantial gold and silver reserves. Ongoing drilling suggests that the scale of the deposit could increase even further.
The acquisition takes place amid forecasts of a global copper shortage and rising demand for copper, particularly for use in renewable energy infrastructure, electric vehicles, and other technologies linked to the energy transition. The development of new copper deposits is becoming increasingly complex and costly, leading to a wave of mergers and acquisitions in the mining sector as companies seek to secure future supply.
Preliminary resource estimates for Filo del Sol indicate resources of 22.3 million ounces of gold, 8.2 million tonnes of copper, and 600 million ounces of silver. The capital investment required for the project is estimated at $1.8 billion. Once operational, the mine could produce 66,000 tonnes of copper, 168,000 ounces of gold, and 9.25 million ounces of silver annually. The payback period for the project is estimated at 3.5 years, with a projected mine life of 13 years.
Filo Corporation is also responsible for developing the Josemaria deposit, which contains 4.6 million tonnes of copper, 9.8 million ounces of gold, and 59 million ounces of silver. Like Filo del Sol, Josemaria is located along the Argentina-Chile border. Both projects require substantial investment and will take several years to reach full-scale industrial production, but they are expected to play a significant role in meeting future copper demand.
Aluminium Dunkerque Expands Scrap Remelting Operations
Aluminium Dunkerque, the largest primary aluminium producer in France with an annual capacity of 300,000 tonnes, has announced the commissioning of its eighth aluminium scrap remelting furnace. The new furnace has a capacity of 10 tonnes per hour and is expected to produce around 20,000 tonnes of secondary aluminium annually. This addition will help Aluminium Dunkerque reduce its carbon dioxide emissions and lower its specific electricity consumption.
According to CEO Guillaume de Goa, France currently exports about 500,000 tonnes of aluminium scrap each year. By increasing domestic recycling capacity, the country can retain more strategic metal resources and contribute to climate change mitigation efforts. The new furnace is part of a broader strategy to enhance the sustainability of aluminium production in France.
In conjunction with the new furnace, Aluminium Dunkerque has signed a ten-year electricity supply agreement with EDF, the French state-owned nuclear power operator. The contract, which will take effect on 1 January 2026, will ensure that most of Aluminium Dunkerque’s energy needs are met with carbon-free nuclear power. This move is expected to further reduce the carbon footprint of the company’s operations and provide long-term stability for its energy supply.
Cobalt Holdings to Launch IPO for Cobalt Transactions
Cobalt Holdings has announced plans to launch an initial public offering (IPO) on the London Stock Exchange in June, which could become the largest UK IPO in over two years. The company expects to raise approximately $230 million through the offering. Major investors in the IPO include international trader Glencore and investment firm Anchorage Structured Commodities Advisor, which will collectively acquire 20.5% of the shares on offer.
Cobalt Holdings specializes in the purchase and storage of cobalt, a metal essential for battery production. The company’s business model allows investors to gain exposure to cobalt without the direct risks associated with mining and exploration. CEO Jake Greenberg has emphasized that this approach provides a more accessible way for investors to participate in the cobalt market.
The company has also secured a six-year supply contract with Glencore, under which Glencore will provide cobalt worth up to $1 billion. The first phase of this agreement involves the delivery of 6,000 tonnes of cobalt at a discount to the current spot price, valued at $200 million. Additionally, Cobalt Holdings has entered into an agreement with Anchorage Structured Commodities Advisor to purchase 1,500 tonnes of cobalt in 2031.
According to the US Geological Survey, global cobalt mine production reached 290,000 tonnes in 2024, with the Democratic Republic of Congo accounting for 220,000 tonnes, Indonesia for 28,000 tonnes, and Canada for 4,500 tonnes. China remains the dominant player in refined cobalt production, accounting for 75% of global output and exerting significant influence over world prices.
Cobalt prices have experienced considerable volatility in recent months. In February, prices on the London Metal Exchange fell to a multi-year low of $21,550 per tonne. Following a four-month export ban imposed by the Democratic Republic of Congo, prices surged to nearly $36,200 per tonne before stabilizing at around $33,700.
The Cobalt Institute forecasts that global demand for cobalt will grow by an average of 7% per year, reaching 400,000 tonnes by the early 2030s. This growth will be driven primarily by the expansion of electric vehicle production. In 2024, global cobalt consumption was 222,000 tonnes, with electric vehicles accounting for 43% of demand. By 2030, this share is expected to rise to 57%, while demand from other sectors, such as electronics and superalloys, is expected to slow. The global cobalt market was in surplus by 36,000 tonnes in 2024, compared with a surplus of 25,000 tonnes in 2023.
