Key transactions & industry news Weekly Update 11/21/2025

Metals & Mining

EGA surpasses 50 million tonnes of cast metal as a new growth phase unfolds. Emirates Global Aluminium (EGA), known to be the world’s largest premium aluminum producer, announced that in cast metal production, since 1979 to date, it has reached 50 million tonnes.

VBX moves Wuudagu project forward as new drilling data reinforces resource outlook. Progress at VBX Limited’s Wuudagu bauxite venture has taken another step forward, as the company confirms that the first batch of assay results from its latest infill drilling program has now been reviewed. The samples taken from the Wuudagu B deposit show bauxite mineralization in line with earlier projections, strengthening the level of confidence in the existing Mineral Resource Estimate.

Sortera raises $45M for recycling tech as U.S. demands low-carbon aluminum. The startup Sortera Technologies has raised fresh funding to expand its tech-driven recycling operations, with an eye toward meeting rising U.S. demand for low-carbon aluminum.

Enpack secures a 50M m² aluminum composite foil deal. China’s Enpack Packaging has moved beyond its core drinks-can business with a striking new win: a long-term supply deal for over 50 million square meters of composite aluminum foil to be used in next-generation semi-solid-state battery cells. The agreement signals how suppliers once rooted in traditional metal packaging are repositioning themselves inside the fast-growing battery materials chain.

Hydro signs new $1.6B and $800M sustainability-linked revolving credit facilities. Norsk Hydro ASA has signed $1.6B and $800M revolving multi-currency credit facilities with the margin linked to Hydro’s greenhouse gas emission target.

Energy MP Materials stock surges on Pentagon-backed deal to develop rare earth refinery in Saudi Arabia. MP Materials surged on a deal with the U.S. Department of Defense and the Saudi Arabian Mining Company, Maaden, to develop a rare earth refinery in the kingdom. The U.S. rare earth miner’s stock rose 8.61% to close at $63.55.

Rio Tinto cuts Yarwun output by 40% as waste capacity tightens, extending operations to 2035. Rio Tinto will significantly reduce production at its Yarwun alumina refinery in Queensland by 40% from October 2026. The move is expected to stretch the refinery’s life to 2035 and give the company more time to look at ways to modernize the site and possibly extend its life even further.

Ontario launches $2.8B aid plan to help industries hit by U.S. tariffs. Ontario has rolled out a $2.8B support package aimed at helping manufacturers, metal producers and other sectors still dealing with the economic fallout of U.S. steel and aluminum tariffs. The new funding is structured to give companies financial breathing room as they cope with tariff-driven cost spikes.

Rio Tinto pauses Jadar development amid permit gridlock. Rio Tinto has put its Jadar lithium project in western Serbia on hold, shifting the whole operation into care and maintenance for now, though the company says it isn’t walking away from Serbia. However, it will hold the legal rights over the deposit and continue to operate in the country.

Transportation & Logistics

Union Pacific to serve new Lineage cold-storage site near Dallas. Lineage, a global temperature-controlled logistics company, recently broke ground on a new cold storage facility at Prime Pointe Industrial Park near Dallas, a Union Pacific Railroad Focus Site.

Harbinger lands $160M Series C, inks initial FedEx deal for 53 electric trucks. Medium-duty EV truck and hybrid vehicle maker Harbinger recently announced it has raised a $160M Series C funding round. With this Series C, Harbinger has raised $358M to date. In addition to the investment, FedEx placed an initial order for 53 Harbinger EVs.

Rail merger could raise prices, hurt U.S. ability to compete, say GOP legislators. Dozens of Republican state legislators warned regulators that the proposed rail mega-merger of Union Pacific and Norfolk Southern threatens to raise the cost of products on everything from steel and autos to food, and hinder the ability of U.S. companies to compete on the world market.

Judge Oks Yellow Corp.’s final liquidation plan. A federal bankruptcy court in Delaware cleared the path for the final liquidation of defunct Yellow Corp.’s estate. The plan outlines the distribution of as much as $700M to remaining creditors, including former employees. The order, however, could be challenged on appeal by Yellow’s largest equity holder, MFN Partners.

Energy

Ukraine to appoint new board for nuclear firm amid $100M scandal. Ukraine’s government plans to appoint a new supervisory board at Energoatom, the state nuclear company at the heart of a corruption scandal, by the end of this year.

Siemens Energy to invest $2.3B in power grid factories by 2028. Siemens Energy plans to invest $2.3B in its global network of transformer and switchgear factories by 2028, the company said in slides ahead of a capital markets day.

Trump administration backs Three Mile Island nuclear restart with $1B loan to Constellation. The Trump administration will provide Constellation Energy with a $1B loan to restart the Crane Clean Energy Center nuclear plant in Pennsylvania.

HoloSolis raises $255M to help build solar panel factory in France. French company HoloSolis has raised more than $255M in financing to help fund construction of a solar panel factory it says will be among the largest of its kind in Europe.

Others

Eli Lilly hits $1T market value, a first for a health-care company. Eli Lilly reached a $1T market capitalization, the first health-care company in the world to join the exclusive club dominated by tech firms.

Paramount wins European rights to soccer’s Champions League in $11.5B auction. Paramount Skydance won most media rights to show soccer’s UEFA Champions League in the U.K. and Germany, securing prized live-sports properties in an auction that raised $11.53B.