Key transactions & industry newsWeekly Update 12/12/2025

Metals & Mining

Australia unveils rescue bid for Rio Tinto’s Tomago aluminum smelter. Prime Minister Anthony Albanese announced a rescue effort to keep open Australia’s largest aluminum smelter, the struggling Tomago facility majority⁠-⁠owned by Rio Tinto, after its current power contract expires in 2028.

Rising power costs put new smelters at risk. Alcoa has warned that the rapid expansion of energy-hungry data centers poses a growing challenge for the future of aluminum smelting, with operators willing to pay far more for electricity than industrial producers can afford. The U.S.⁠-⁠based aluminum business believes the disparity in power costs is already reshaping the landscape for smelter operations.

U.S. has lost three⁠-⁠quarters of its aluminum smelters. Bank of America Global Research reported that the U.S. has lost three⁠-⁠quarters of its aluminum smelters, China has capped its aluminum production, U.S. consumers are now having to pay the full 50% tariff.

Shareholder approvals clear path for Anglo-Teck merger’s regulatory test. Anglo American and Teck Resources have secured overwhelming shareholder backing for their proposed merger of equals, clearing a key milestone and shifting the focus to the global regulatory approvals required to establish Anglo Teck.

EAS aluminum advances construction of its integrated production campus strong momentum continues as the company targets further expansion in 2026. EAS Aluminium is rapidly moving forward with the construction of its 35,000 square meter integrated production campus in the Edirne Organized Industrial Zone, marking another significant milestone in the company’s long⁠⁠-⁠⁠term growth strategy.

Worthington Steel confirms takeover talks with Klöckner. Worthington Steel, Inc. has confirmed that it is in negotiations with German steel and metal distributor Klöckner and Co. SE regarding potential voluntary public takeover offer.

Transportation & Logistics

Mexico targets Asian imports with new tariffs ahead of USMCA negotiations. The Mexican government approved a sweeping package of new import tariffs, some as high as 50% on more than 1,400 products from China and other Asian nations. The tariffs are a dramatic shift in trade policy that analysts say is designed to shore up domestic industry while easing pressure from the U.S. ahead of contentious negotiations with the Trump administration.

Union Pacific sets date for historic rail merger filing. Union Pacific and Norfolk Southern plan to file their formal merger application with federal regulators on Dec. 19.

Norfolk Southern to serve new Eli Lilly plant in Alabama. Eli Lilly and Co. has selected a Norfolk Southern Railway-served site in Huntsville, Alabama, for the location of a new $6B manufacturing facility.

Lineage eyes $110M lift from warehouse tech rollout. Cold storage warehouse operator Lineage, Inc. provided an update on some longer⁠-⁠term initiatives. It also provided an expected financial contribution from the increased adoption of its proprietary warehouse execution system, LinOS.

Developers explore rail expansion at BNSF, UP-served Houston park. Rail Industrial Partners LLC and the San Jacinto River & Rail Park have entered an agreement to explore the expansion of rail service at the Houston industrial park.

Energy

Sumitomo plans $1.3B renewable energy expansion in India as demand surges. Japan’s Sumitomo Corporation is preparing a major scale-up of its clean⁠-⁠energy footprint in India, with plans to invest $1.3B in renewable power projects developed through its joint venture with Indian startup Ampin Energy Transition.

U.S. preparing to seize more tankers off Venezuela’s coast after first ship taken. The U.S. is preparing to intercept more ships transporting Venezuelan oil following the seizure of a tanker this week, as it increases pressure on Venezuelan President Nicolas Maduro.

NextEra to build 15 gigawatts of power for data centers by 2035. NextEra Energy plans to build 15 gigawatts of new power generation for data center hubs by 2035. NextEra is the largest renewable energy developer in the U.S. through NextEra Energy Resources, and also owns Florida Power & Light.

Trump ban on wind power projects overturned by federal judge. A federal judge struck down President Donald Trump’s sweeping ban on new wind power projects in the U.S., a major victory for an industry that has been singled out by the White House since the administration’s first day.

Others

Divided Fed approves third rate cut this year, sees slower pace ahead. A Federal Reserve split over where its priorities should lie cut its key interest rate, but signaled a tougher road ahead for further reductions. Fulfilling expectations of a “hawkish cut,” the central bank’s Federal Open Market Committee lowered its key overnight borrowing rate by a quarter percentage point, putting it in a range between 3.5%⁠-⁠3.75%.