Key transactions & industry news Weekly Update 09/19/2025

Metals & Mining

Massive fire shuts down Novelis’ Scriba aluminum plant in the U.S. A massive fire forced the shutdown of Novelis’ aluminum plant in Scriba after flames tore through the roof and damaged the facility’s hot mill.

Vedanta initiates land acquisition for 3 MTPA aluminum expansion in Odisha. Vedanta has begun a land acquisition process for manufacturing an aluminum smelter in Dhenkanal, Odisha. This is part of its production expansion plan from 3 MTPA to 6 MTPA (million tons per annum).

Ukraine, U.S. launch fund for critical minerals projects with $150M investment. Ukraine and the U.S. International Development Finance Corporation will each commit $75M to a joint investment fund that is part of Kyiv’s minerals deal with Washington first signed in April.

Vedanta clears demerger hurdle with NCLAT nod, puts spotlight on 3D strategy now. Global mining and metals company Vedanta Resources is pressing ahead with its long-awaited corporate restructuring, with Chief Executive Officer Deshnee Naidoo confirming that the demerger of its Indian arm is targeted for completion within FY2025–26.

Alba on alumina spree! Renews agreement with Hydro. Aluminum Bahrain B.S.C. (Alba), the largest single-site aluminum smelter, has renewed its alumina supply agreement with Hydro during the Fastmarkets International Aluminum 2025 Conference in Barcelona.

Qatar sovereign fund invests $500M in Canada’s Ivanhoe Mines. Qatar’s sovereign wealth fund will take a $500M stake in Canada’s Ivanhoe Mines, marking the latest Gulf investment in critical minerals as the region seeks to diversify beyond oil and gas.

Gulf Aluminum Council to host the biggest aluminum conference: Arabal 2025. The Gulf Aluminum Council, in collaboration with Middle East aluminum producers, will organize Arabal 2025, the region’s leading aluminum conference and exhibition, from November 4 to 6, 2025, in Dubai.

U.S. in talks to set up $5B fund for critical mineral deals. The U.S. is in talks to set up a $5B fund to invest in mining, in what would be the government’s most significant foray into dealmaking to boost supplies of critical minerals.

Transportation & Logistics

Georgiana & Andalusia Railroad files STB notice to operate 2 Alabama rail lines. Georgiana & Andalusia Railroad LLC, a noncarrier, filed an exemption notice with the Surface Transportation Board to replace Three Notch Railway LLC as the operator of two rail lines in southern Alabama.

FedEx Freight spinoff on track for June 2026. The nation’s largest less-than-truckload carrier, FedEx Freight, is on track to become a standalone public company by June of next year. Parent company FedEx plans to spend $600M enhancing IT infrastructure and systems ahead of the spinoff.

CN appoints former LOGISTEC CEO Madeleine Paquin to board of directors. Canadian National Railway (TSX:CNR) (NYSE:CNI), a $59B market cap transportation giant with impressive gross profit margins of 55%, appointed Madeleine Paquin to its Board of Directors.

First new Utah railroad in a century opens. Savage Tooele Railroad, Utah’s first new short line railroad in more than a century, opened in northwest Utah. The 11-mile route which restored a former Union Pacific branch serves the Lakeview Business Park in Grantsville.

Watco signs for new Intramotev battery railcar. Intramotev had signed a customer agreement with short line railroad operator Watco, for its TugVolt autonomous battery-electric railcars.

Union Pacific, Norfolk Southern announce new intermodal service. Union Pacific Railroad and Norfolk Southern Railway will launch a new domestic intermodal service that will originate and terminate in Louisville, Kentucky, interchanging between NS and UP in Kansas City, Missouri.

Energy

Oil remains lower as EU places more Sanctions on Russia. Oil futures are lower as the EU unveils a new package of sanctions against Russia that targets banks, oil vessels and buyers of Russian oil, while lowering the crude oil price cap.

After Trump pressure, EU aims to bring forward Russian LNG import ban. The European Union plans to ban Russian LNG imports into the bloc a year earlier than envisaged as part of a 19th package of sanctions against Moscow, a change that follows pressure from U.S. President Donald Trump.

Abu Dhabi’s XRG withdraws $19B offer for Australia’s Santos. Abu Dhabi’s National Oil Company has walked away from its $19B offer for Australia’s Santos, ending speculation over what would have been one of the country’s largest energy deals.

Puerto Rico inks $4B LNG contract with New Fortress Energy. Puerto Rico has negotiated a $4B liquefied natural gas contract with New Fortress Energy. The supply deal, which comes after talks for a much larger contract broke down in July, reduced the term to 7 years from 15 years, with the option to extend for an additional three years, and also eliminated exclusivity clauses.

U.S. and Britain to sign flurry of major nuclear power deals during Trump’s state visit. The U.S. and U.K are expected to sign a flurry of major new deals during U.S. President Donald Trump’s state visit to Britain, seeking to kickstart a “golden age” of nuclear power.

IFC signs $500M contract with Iraq’s Basrah Gas for associated gas and development of major port. The World Bank’s International Finance Corporation (IFC) signed a $500M investment contract with Iraq’s Basrah Gas Co. for associated gas and the development of facilities at the Umm Qasr port.

Others

SEC to propose rule change on Trump’s call to end quarterly earnings reporting, says Chair Atkins. Paul Atkins, chairman of the U.S. Securities and Exchange Commission, said his agency will propose a rule change following President Donald Trump’s call to switch quarterly earnings reports to a semiannual schedule.

Trump, Xi make progress on TikTok deal, but more work remains, White House says. President Donald Trump and Chinese leader Xi Jinping failed to come to a final agreement on TikTok, but the two made significant progress toward a deal.

Nvidia takes $5B stake in Intel, offers chip tech in new lifeline to struggling chipmaker. Nvidia is investing $5B in Intel, throwing its heft behind the struggling U.S. chipmaker just weeks after the White House engineered an extraordinary deal for the federal government to take a massive stake in the company.

Fed approves quarter-point interest rate cut and sees two more coming this year. The Federal Reserve approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market even as inflation is still in the air.