Key transactions & industry news Weekly Update 11/07/2025

Metals & Mining

Vedanta’s newly launched CopperTech to invest $1.5B in Konkola. Vedanta Resources has launched CopperTech Metals, a U.S.-domiciled company that will own and operate Zambia’s Konkola Copper Mines, connecting America’s critical mineral needs with Zambia’s historic copper legacy.

Ukraine puts aluminium plant stake back on sale after previous failed auction. Ukraine’s State Property Fund is again selling a ~97.5% stake in the Zaporizhzhia Aluminum Plant, which is 100% state-owned. The auction is scheduled to start at $1.81M.

Hindalco faces downgrades after Novelis’ weak quarter; Launches ‘Saksham Niveshak’ Drive. Hindalco Industries Ltd, the flagship metals company of the Aditya Birla Group, is facing twin challenges this quarter. Its U.S.-based subsidiary, Novelis Inc., reported weaker-than-expected earnings, prompting several brokerage downgrades. At the same time, the company has rolled out a 100-day campaign aimed at helping shareholders recover unclaimed dividends.

U.S.-focused Resolution Copper has completed the $200M rehabilitation and deepening of its historic No. 9 Shaft in Arizona. Originally constructed in 1971 by Magma Copper Company and used as a production shaft until the mid-1990s, the refurbished shaft now reaches a final depth of 2103 m – nearly five Empire State Buildings tall – with a diameter of 6.7 m. It is the second-deepest single-lift mine shaft in the U.S., behind only Resolution Copper’s No. 10 Shaft.

Hindalco takes a close to $650M brunt post Novelis’ fire impact. Hindalco, the parent company of Novelis, is suffering a negative free cash flow from the unfortunate incident. Novelis, whose own financials are jolted, is also a wholly-owned subsidiary of Hindalco and is also a major contributor to Hindalco’s consolidated financial results.

Alba forges global aluminum alliance with SIG and BlueFive to expand beyond Bahrain. Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminum smelter on one site, announced a strategic partnership with the aluminum manufacturer, Shandong Innovation Group (SIG) and BlueFive Capital on the sidelines of Gateway Gulf 2025 with the aim to optimize the global aluminum supply chain.

Transportation & Logistics

Yellow’s $137M-plus lawsuit against Teamsters revived. A federal appeals court has reinstated defunct Yellow Corp.’s $137M-plus lawsuit against the International Brotherhood of Teamsters. The decision overturns a previous dismissal by a lower court, allowing the former less-than-truckload carrier to pursue its breach-of-contract case.

CPKC reaches 13 collective bargaining agreements in U.S. Canadian Pacific Kansas City has reached 13 new five-year tentative agreements with unions in the United States representing laborers, clerks, maintenance workers and mechanical and engineering supervisors.

Panama Canal fights drought with $8.5B plan to secure future trade. Panama Canal Administrator Ricaurte Vásquez Morales said the waterway’s $8.5B modernization plan, which includes new port terminals, a gas pipeline, and a water-reservoir project, is designed to keep the 110-year-old canal competitive as global trade patterns and climate pressures evolve.

MTA OKs $1.5B subway car purchase. The New York Metropolitan Transportation Authority’s board has approved a $1.5B purchase of 378 new R268 subway cars as part of a major fleet modernization investment.

UPS cargo jet crashes during takeoff from Louisville hub. An MD-11 freighter aircraft operated by UPS crashed after departing from Louisville Mohammad Ali International Airport in Kentucky.

Energy

Southwest Power Pool to develop 765-kV regional transmission ‘backbone’. SPP’s board of directors approved $8.6B in projects, including some of the highest-voltage power lines in the United States.

Trump finalizes U.S. Gulf oil lease sale, proposes Alaska sale in 2026. The lease sale in the U.S. Gulf of Mexico, which President Donald Trump refers to as the Gulf of America, will make about 80 million acres available. The sale, which will take place on December 10, will be the first of 30 sales in the region through 2040 that were included in Trump’s tax law which he signed in July.

Greece signs first long-term deal to supply Europe with US LNG. Greece agreed to import 700 million cubic meters of U.S. liquefied natural gas per year starting in 2030 in its first long-term deal with Washington, which seeks to replace Russian supplies to Europe.

MP Materials CEO warns investors to approach suddenly hot rare earths industry with caution. Pentagon-backed MP Materials warned investors this week to approach other rare earths projects with caution, pointing to the industry’s difficult economics.

World’s largest oil company Aramco reports higher third-quarter net profit on production boost. Saudi Aramco posted a 0.9% jump in third-quarter profit, beating expectations on the back of higher production even as oil prices remained under pressure.

Others

Google to announce biggest-ever investment in Germany. The U.S. tech giant said its plan would involve the construction of “infrastructure and data centres,” as well as pushing ahead with “innovative projects for the use of renewable energies and waste heat.”

‘Mandate for change’: Zohran Mamdani wins New York City mayoral election. Zohran Mamdani, 34, has won New York City’s race for mayor in a contest that rallied young voters and sparked debate about the future direction of the U.S. Democratic Party.