Key transactions & industry news Weekly Update 10/03/2025

Metals & Mining

U.S. offers to buy stakes in Australian critical minerals companies. The U.S. government has offered to buy equity in Australian critical minerals companies as part of a funding package to expand its supply and cut its reliance on China.

Thyssenkrupp ends talks with EP Group for Steel Europe, clearing path for rival suitor. Thyssenkrupp ended talks with EP Group on a possible 50-50 joint venture for Steel Europe, clearing the way for rival suitor Jindal Steel International.

Alcoa’s Kwinana refinery to shutdown permanently. Alcoa Corporation, a global industry leader in bauxite, alumina, and aluminum products, confirmed the permanent closure of its Kwinana alumina refinery in Western Australia.

Arconic aims to double its onsite HPA capacity with upcoming facility in U.S. Arconic Corporation, a U.S. based company specializing in lightweight metals engineering and manufacturing, hosted the ribbon-cutting ceremony of its much-awaited High Purity Aluminum (HPA) facility at its Davenport Works.

India considers $125 anti-dumping duty on met coke. India may impose a $125/tonne anti-dumping duty on metallurgical coke imports in a move that targets cheap imports which domestic producers say are undercutting local prices.

Champion forms partnership with Nippon Steel, Sojitz for Kami project. Iron-ore miner Champion Iron has finalized the first phase of its partnership with Japan’s Nippon Steel and trading house Sojitz to advance the Kamistiatusset iron-ore project in Canada’s Labrador Trough.

Iran to launch $1B Parsian alumina plant to cut imports, boost aluminium chain. Iran is preparing to launch its largest alumina production project by the end of this year, with the state-owned Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) confirming that the $1B Parsian alumina plant will soon enter implementation phase.

Transportation & Logistics

Primus sues Trump over dismissal from STB. Robert Primus is suing President Donald Trump and his administration over what Primus says was his unlawful dismissal as a member of the Surface Transportation Board.

Busiest U.S. port plans new container terminal for biggest ships. The Port of Los Angeles plans to build a new terminal to accommodate the world’s biggest container ships. The Pier 500 project would comprise two berths and 3,000 feet of wharf on 200 acres of land along the Pier 400 channel, on the southern end of Terminal Island.

China could bar U.S.-service ships in new maritime dispute volley. China could impose its own punitive port charges and bar ships in U.S. services under new regulations that raise the stakes in the trans-Pacific trade war with the United States.

CSX opens key Baltimore intermodal tunnel. CSX has re-opened the expanded Howard Street Tunnel in Baltimore following a double-stack clearance project that began on February 1st.

CSX appoints Steve Angel as CEO amid activist pressure. CSX Corp has appointed Steve Angel as its top boss, replacing Joe Hinrichs, as the railroad operator fends off pressure from an activist investor while facing industry consolidation.

China signs deal with Zambia, Tanzania for $1.4B railway upgrade. China, Zambia and Tanzania signed a $1.4B deal to refurbish the Tanzania-Zambia railway, a vital route for shipping copper exports from the region.

Boeing has started working on a 737 MAX replacement. Boeing is planning a new single-aisle airplane that would succeed the 737 MAX, a long-term bid to recover business lost to rival Airbus during its series of safety and quality problems.

Energy

Large fire erupts in jet fuel unit at Chevron’s Los Angeles refinery. A large fire erupted in a jet fuel production unit at Chevron’s El Segundo refinery near Los Angeles, disrupting supply in California’s isolated energy market.

Poland’s link with strategic NATO fuel pipeline to cost $5.5B. Poland plans to link to a NATO pipeline network, which is designed to supply troops with fuel in the event of war, will cost $5.5B.

Occidental offloads chemicals unit in $9.7B deal with Berkshire to cut debt. Occidental Petroleum will sell its chemicals arm OxyChem to Warren Buffett’s Berkshire Hathaway for $9.7B, marking its biggest divestment yet to slash debt after years of costly acquisitions.

U.S. energy department cancels $7.6B in funding meant for projects. The U.S. Department of Energy plans to cancel $7.56B in financing for hundreds of energy projects that it said would not provide sufficient returns to taxpayers.

Private equity giant KKR expands Middle East footprint with ADNOC gas pipeline investment. Global private-equity giant KKR has expanded its partnership with the Abu Dhabi National Oil Company, acquiring a minority stake in ADNOC Gas Pipeline Assets.

DOE announces $625M for ‘beautiful, clean coal’ and gas. The U.S. Department of Energy announced $625M in funding aimed at retrofitting and recommissioning coal plants.

TotalEnergies plans $7.5B in cuts as lower oil prices weigh on industry. France’s TotalEnergies will cut spending on projects and other internal costs in a drive to save $7.5B by 2030 as the industry grapples with lower oil prices.

Others

Government shutdown takes hold with mass layoffs looming and no end in sight. The federal government was thrown into a shutdown with no easy endgame in sight, as Democrats held firm to their demands to salvage health care subsidies that President Donald Trump and Republican in Congress have dismissed as something to possibly discuss later.

Samsung and SK join OpenAI’s Stargate initiative to advance global AI infrastructure. Samsung, SK, and OpenAI announced new strategic partnerships as part of OpenAI’s Stargate initiative, the company’s overarching AI infrastructure platform, aimed at expanding infrastructure critical to AI development, globally and in Korea.