Key transactions & industry news Weekly Update 09/05/2025

Metals & Mining

Vale reopens key mine, plans to invest $12B in Minas Gerais. Brazilian miner Vale will invest $12.36B in its mining operations in Minas Gerais state by 2030, as it held a ceremony to mark the reopening of a key mine in the city of Ouro Preto.

Canada seeks U.S. trade concessions for steel, aluminum and auto industries. Both neighboring countries are working together to resolve a row over tariffs on commodities and automobiles. Carney confirmed that talks were focused on relief for sectors still hit by hefty U.S. tariffs, including steel, aluminum, autos and forest products.

Canada to announce aid for aluminum, steel and canola sectors amid tariff dispute. Canada is preparing to announce long-awaited support measures for its aluminum, steel and agricultural sectors, as trade frictions with the United States intensify. The package aims to cushion producers against the uncertainty created by U.S. tariffs.

Impact Minerals forms a JV with Kuniko for the NSW Commonwealth Gold Project. Impact Minerals, an Australian minerals explorer currently focusing on high-purity alumina, has established a joint venture agreement with Kuniko, an exploration company, to advance the Commonwealth Project in the Lachlan Province, New South Wales.

Alba chooses Egypt for its first alumina refinery. Aluminum Bahrain (Alba), a manufacturer and distributor of aluminum and its related products, has officially signed a non-binding Memorandum of Understanding with the Metallurgical Industries Holding Co., a company that operates through its subsidiaries to produce aluminum and other metals.

Government put Vedanta’s Odisha bauxite mine on hold, here’s what happening. The Union Environment Ministry has delayed its decision on Vedanta Limited’s proposal to divert more than 700 hectares of forest land in Rayagada and Kalahandi districts in Odisha, for the Sijimali Bauxite Mines. The delay is related to pending issues concerning community consent, compensatory afforestation measures and biosphere concerns.

EGA concludes expansion of Al Taweelah alumina refinery with 50KT extra output anticipation. The UAE’s Emirates Global Aluminum (EGA) has completed its debottlenecking expansion at its Al Taweelah refinery, which includes the establishment of a third ball mill, further boosting alumina output capacity to 50,000 tons per annum.

Australia backs coal mine extension, stoking climate backlash. The Australian government approved an extension to a Glencore thermal coal mine, sparking renewed concerns from environmental groups about the country’s efforts to tackle climate change.

Transportation & Logistics

FedEx deepens presence in Saudi Arabia amid trade growth. FedEx Corp. is strengthening its logistics capabilities in Saudi Arabia with new air connectivity from key markets in the West, full ownership of distribution facilities and investment in a new regional air hub in Riyadh to capitalize on the country’s trade growth.

BNSF, Hobby Lobby partner on new Oklahoma City intermodal facility. BNSF Railway Co. will open a new intermodal facility in Oklahoma City in mid-November as a result of a partnership with Hobby Lobby Stores Inc.

Trump nominates pair for Federal Maritime Commission. President Trump has nominated Florida’s former Secretary of Commerce and the head of that state’s public-private investment program to fill the pair of commissioner vacancies at the Federal Maritime Commission.

Maryland DOT includes $1.4B light-rail modernization project in draft capex plan. The Maryland Department of Transportation released a $21.5B draft budget for its six-year capital plan. Included in the draft consolidated transportation program is the Maryland Transit Administration’s launch of a $1.4B light-rail modernization project.

STB approves Watco’s acquisition of Great Lakes Central Railroad. The Surface Transportation Board has granted authority for Watco Holdings Inc. to acquire control of Great Lakes Central Railroad Inc. (GLC), a short line operating in Michigan.

Energy

India will continue to buy Russian oil despite U.S. tariffs. India will continue to buy Russian oil as it proves economical, despite the Trump administration’s decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow.

Orsted wins approval for emergency rights issue as Trump threatens U.S. projects. Offshore wind developer Orsted won shareholder approval for a $9.4B emergency rights issue to help fund U.S. projects thrown into uncertainty by President Donald Trump’s opposition to the renewable energy source.

Japan explores Alaskan LNG purchases as part of $7B energy deal, U.S.-Japan statement shows. Japan has confirmed its commitment to an annual $7B worth of energy purchases from the United States while exploring their new Alaskan liquefied natural gas off-take agreement, a joint statement on the bilateral trade deal showed. The U.S. will also ensure it applies its lowest tariff rates to Japanese pharmaceuticals and semiconductors.

EU sticks to planned Russian oil exit by 2028. The European Union is sticking to its plans to phase out Russian oil by 2028, the bloc’s energy chief told Reuters, adding that he had not faced pressure from Washington to bring forward this deadline.

Oil prices ease on surprise build in U.S. crude stockpiles, OPEC+ to consider output hike. Oil prices eased about 1% to a two-week low on a surprise build in U.S. crude inventories and expectations that OPEC+ producers will increase output targets. Brent crude futures fell 65 cents, or 1.0%, to settle at $66.95 a barrel, while U.S. West Texas Intermediate crude fell 49 cents, or 0.8%, to settle at $63.48.

Russia clinches major new gas pipeline deal with China as West shuns supplies. Russia and China signed a legally binding deal to build the long-delayed Power of Siberia 2 gas pipeline, deepening commercial ties in what is likely to be seen as a defiant signal to the West.

Others

Koch family agrees to pay more than $1B for 10 percent of Giants. The New York Giants have agreed to sell 10 percent of the franchise in a deal that values the franchise at more than $10B, the highest valuation ever for a sports franchise.

Kraft Heinz Is splitting Into two companies. After more than a decade together at Kraft Heinz, ketchup is breaking up with hot dogs. The food giant plans to split its business into two companies, unwinding an industry megamerger that married two packaged-food behemoths.