Key transactions & industry news Weekly Update 10/17/2025

Metals & Mining

Rio Tinto ramps up Simandou stockpiles to 2Mt for first shipment. Rio Tinto has stockpiled two-million metric tons of high-grade iron ore at its Simandou project in Guinea for a mid-November shipment, three sources told Reuters, which would be the first from the mega-mine set to reshape global supplies and pricing.

EGA expands Minnesota recycling plant, raising U.S. capacity to 200,000tpy. Emirates Global Aluminium (EGA), the world’s largest producer of premium aluminum, has announced another major expansion at its EGA Spectro Alloys facility in Minnesota, U.S. The latest phase of development will increase the aluminum recycling plant’s total capacity to 200,000 tonnes per year, strengthening EGA’s growing footprint in the American market.

Vedanta looks to Odisha government to accelerate $20B aluminum investment. Vedanta’s Chairman, Anil Agarwal, recently reached out to Odisha’s Chief Minister, Mohan Charan Majhi, to rally support from the state government for speeding up regulatory approvals and moving forward with Vedanta’s ambitious $20B aluminum project.

BALCO begins production at India’s largest smelter, entering the million-tonne league. Vedanta Aluminiu’s subsidiary firm Bharat Aluminium Company Limited (BALCO) has achieved a major milestone with the first metal output from India’s most advanced 525 kilo-ampere (kA) smelter.

Đức Giang Chemicals signs investment deal for integrated bauxite processing complex in Lam Dong. The company signed a Memorandum of Understanding during the Lam Dong Province Investment Promotion Conference in Da Lat. The agreement, signed with the provincial government, aims to study, survey and propose an integrated aluminum complex in the region.

Global steel giant to exit South Africa with $460M takeover imminent. Talks between global steel giant ArcelorMittal and South Africa’s Industrial Development Corporation over the potential sale of the steelmaker’s local operations have entered an advanced stage, signaling a possible shift in Africa’s steel industry landscape.

Guinea to boost bauxite production by 50 million tonnes through new infrastructure deal. The government of Guinea-Conakry has struck a landmark infrastructure agreement, bringing six mining companies – CDM China, Ashapura Minechem, SMB, Cambia Mining, Dynamic Mining, and TBA – agreeing to jointly modernize and operate the Dapilon Line mining road, a key logistics corridor.

Transportation & Logistics

Visa pause, ICE crackdowns squeeze Laredo carriers. Trucking companies at the U.S.–Mexico border say that the Trump administration’s pause on new work visas for foreign commercial drivers is intensifying driver recruiting that is already squeezing freight capacity and raising costs for shippers.

Railroads set shareholder vote on transcontinental merger. Union Pacific and Norfolk Southern will hold shareholder votes Nov. 14 seeking investor approval of their proposed $85B transcontinental railroad merger.

Michigan leaders sign MOU for proposed multimodal hub in Detroit. Michigan Department of Transportation, city of Detroit and Michigan Central officials yesterday signed a memorandum of understanding (MOU) to begin preliminary assessments for a new multimodal transportation hub located within the 30-acre Michigan Central Innovation District.

CN and Congebec partner to expand cold chain rail across North America. Canadian National Railway (CN) and Congebec have announced a new partnership to expand cold chain logistics across North America, unveiling plans to build a state-of-the-art temperature-controlled facility within CN’s Calgary Logistics Park.

Camalco to invest $446M in rail equipment while seeking 40% Camrail stake. Canyon Resources, an Australian junior miner, is ramping up its ambitions in Cameroon with a major logistics play that could reshape the country’s bauxite landscape. Through its local arm Camalco, the miner plans a $446M investment to fast-track the development of the Minim Martap deposit in Adamaoua.

Energy

Oil set for weekly loss on uncertainty over global supply outlook. Oil prices edged lower, heading for a weekly loss of nearly 3% after the IEA forecast a growing glut and U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss Ukraine.

Sam Altman-backed Oklo to get $2B for U.S. nuclear fuel development. Nuclear technology firm Oklo has signed an agreement with Europe-based Newcleo to develop advanced fuel fabrication and manufacturing infrastructure in the U.S.

DOE closes $1.6B loan commitment for AEP transmission rebuild. The U.S. Department of Energy’s Loan Programs Office has closed a $1.6B loan guarantee to a subsidiary of American Electric Power to reconductor and rebuild around 5,000 miles of transmission lines across Indiana, Michigan, Ohio, Oklahoma, and West Virginia.

Washington nuclear facility will deploy 12 Amazon-funded SMRs. The planned Cascade Advanced Energy Facility in Washington, which will be built by Energy Northwest with funding from Amazon, will deploy 12 small modular reactors.

Trump says Modi assured him India will stop Russian oil purchases, but timeline unclear. U.S. President Donald Trump said that Indian Prime Minister Narendra Modi told him New Delhi will stop buying oil from Russia, though the move will take time.

Iraq pledges to end $4B gas imports from Iran by 2028 as it races to diversify beyond oil. Iraq has announced a significant plan to end its reliance on $4B worth of gas imports from Iran by 2028, marking a critical step in the country’s efforts to diversify its economy beyond oil.

Brookfield backs Bloom Energy with $5B for fuel cells to power AI data centers. Brookfield Asset Management said it would invest up to $5B in Bloom Energy’s fuel cell technology to power data centers, as companies seek cleaner energy to meet the needs of the artificial intelligence boom.

Others

Trump says 100% tariffs on China not sustainable, still plans to meet Xi. U.S. President Donald Trump said his proposed 100% tariff on goods from China would not be sustainable, but blamed Beijing for the latest impasse in trade talks that began with Chinese authorities tightening control over rare earth exports.

JPMorgan to invest $10B in U.S. companies critical to national security. JPMorgan Chase said that it would directly invest $10B in companies it deems critical to U.S. national security, part of an initiative to help protect the American economy as trade tensions with countries such as China escalate.