Key transactions & industry news Weekly Update 09/12/2025

Metals & Mining

Toyota Tsusho invests $46.65M in Taiwan’s TCSP to secure EV aluminum supply. Toyota Tsusho Corporation, a trading company, has stepped up its electric vehicle materials strategy. It has invested $46.65M in Ta Chen Stainless Pipe Co., Ltd. (TCSP) through its U.S. subsidiary TCI, which operates TCI Texarkana in Arkansas.

Novelis names Greg Schlicht president of North America operations. Novelis Inc. has named Greg Schlicht as its new Executive Vice President and President for Novelis North America. The appointment, effective immediately, puts Schlicht in charge of the company’s full range of operations across the U.S. and Canada, including its network of rolling mills and recycling facilities.

Shanxi transfers $3.5B bauxite mine rights, bolstering aluminum chain. Trading for bauxite mine rights in North China’s Shanxi has been brisk this year. Nine deals for exploration and exploitation rights have been completed so far in 2025, with a combined transaction value exceeding $3.5B.

Almatis and Çimsa form strategic collaboration in Calcium Aluminate Cement to strengthen refractory supply to aluminum and steel industries. Almatis, a global leader in specialty alumina products, and Çimsa, one of the world’s top three producers of Calcium Aluminate Cement (“CAC”), have stated a strategic collaboration aimed at strengthening the global CAC market and enhancing support for the building chemicals market and refractory producers serving diverse industries, including the aluminum and steel.

Aluminum giant Vedanta eyes 6 MTPA expansion in Odisha. Vedanta is pressing ahead with plans to establish a new 3M tons per annum (MTPA) aluminum smelter in Dhenkanal, Odisha, a senior company official confirmed. The projects, once completed, will effectively double the company’s existing aluminum capacity.

Barminco wins $200M underground contract at Ramelius’ Dalgaranga project. Perenti’s underground mining arm, Barminco, has secured a four-year contract worth about $200M to provide underground mining services at Ramelius Resources’ Dalgaranga gold project in Western Australia.

Constellium extends partnership with Embraer for advanced aluminum aerospace solutions. Constellium is extending its long-term partnership with Embraer for the supply of high-performance aluminum solutions. Under this agreement, Constellium will continue to support Embraer’s Commercial Aviation, Executive Jets, and Defense & Security divisions.

Canyon Resources targets 2026 production at Minim Martap with $30+ per ton margins. Canyon Resources is strategically pushing forward in the global bauxite market, with its Minim Martap project in Cameroon taking center stage. CEO Peter Secker describes this project as “the largest high-grade undeveloped bauxite deposit worldwide”.

Transportation & Logistics

Union Pacific CEO Vena met with Trump to talk merger, security. Union Pacific Railroad issued a statement today confirming that CEO Jim Vena earlier this week met with President Donald Trump at the White House Oval Office to discuss the proposed merger between UP and Norfolk Southern Railway.

Retailers see import decline through end of 2025. Amid rising tariffs, import cargo volume at U.S. container ports is anticipated to decline steadily through the end of this year following a near-record summer peak, according to the nation’s biggest retailers. Major U.S. container ports handled 2.36M twenty foot equivalent units in July, according to the National Retail Federation’s Global Port Tracker.

Cando Rail & Terminals obtains financing for terminal expansion. The Canadian Infrastructure Bank has reached financial closure on a $73M load to Cando Rail & Terminals for the expansion of its Sturgeon Terminal in Alberta.

CN, CSX join on new Nashville intermodal service. Canadian National and CSX said that they have signed a Memorandum of Understanding to develop a new intermodal service into Nashville, Tennessee. The cooperation will provide an all-rail alternative for international containers moving from Canada’s West Coast maritime gateways through Memphis directly into Nashville.

Avelo Airlines Orders up to 100 Embraer E195‑E2s to Modernize Fleet, Reduce Cost, and Fuel Growth. Avelo Airlines has placed a firm order for 50 Embraer E195‑E2 aircraft, with purchase rights for 50 more, supporting the airline’s strategy to deliver affordable and convenient travel across the United States. Aircraft deliveries are expected to begin in the first half of 2027. The list-price value of the order is $4.4B, excluding purchase rights.

Texas North Western Railway wraps up $8.2M infrastructure project. The Texas North Western Railway Co., a subsidiary of TNW Corp., late last month marked the completion of its $8.2M Etter improvement project. The project involved rebuilding and expanding the rail interchange in Etter, Texas, to improve rail safety, enhance fluidity and increase capacity for rail shipments in Moore County and the surrounding areas.

Authorities launch $22B port overhaul to boost nearshoring. In her first state of the nation address, Sheinbaum stated nearly $22B in public and private investments will be made to expand and modernize Mexico’s ports over the next six years.

Energy

Japan cuts price cap on Russian oil to $47.60 in additional sanction. Japan lowered its price cap on Russian crude oil to $47.60 per barrel from $60, to punish Moscow for its continued war in Ukraine, although the move is largely symbolic as nearly all Japan’s current Russian crude imports are exempt.

Toyota to shut down one of its two EV production plants in U.S. amidst rising tariffs. Toyota is shutting down one of its two EV production plants in U.S. According to Nikkei, though Lexus and Toyota have yet to officially confirm the move, the report suggests Toyota’s decision is a response to the tariffs imposed by the Trump administration on US imports.

U.S. solar installation forecast slashed due to Trump policies, report says. The U.S. solar industry is at risk of installing 27% less capacity between 2026 and 2030 than before the passage of President Donald Trump’s tax law that rolled back subsidies for such projects, a key trade group said in a report.

Others

Lead Bank raises $70m Series B, valuation tops $1.47B. U.S.-based Lead Bank has seen its post-money valuation climb to $1.47B following a $70M Series B fundraising round. Headquartered in Kansas City, Missouri, Lead Bank is a state-chartered bank that provides traditional community banking services, including retail and business banking, alongside a Banking-as-a-Service (BaaS) platform offering infrastructure and embedded products to fintech partners in the U.S.

Kirby Corporation Announces Board Approval for Authorization to Repurchase Up to 8M Shares. Kirby Corporation stated that its Board of Directors has approved a new share repurchase authorization for up to 8M additional shares of the Company’s common stock.