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Project(s): View 8 related projects in PECWeb
Plant(s): View 6 related plants in PECWeb
Released January 11, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Industrial Info is tracking $26 billion worth of Metals & Minerals Industry projects that are planned to kick off through March in the U.S. and Canada, more than half of which is in the U.S.
Joe Govreau, Industrial Info's vice president of research for the Metals & Minerals Industry, said in July that U.S. and Canadian spending activity in the industry was up 25%, thanks largely to various government stimuli regarding critical mineral supplies--components essential to the energy transition. He said this has resulted in increased reshoring and friend-shoring (establishing production in an allied country). For more information on this and other environmental, social and governance (ESG) initiatives affecting industry spending, see July 20, 2023, article - IIR Webinar: Geopolitics, Resource Nationalism, ESG Initiatives Affect Mining Spending.
Redwood Materials Incorporated (Carson City, Nevada) expects it will begin construction in the first quarter on US$3.5 billion worth of projects for its new electric vehicle (EV) battery recycling and material production campus in Ridgeville, South Carolina, outside Charleston. The US$1.75 billion grassroot lithium-ion battery recycling plant will recover cobalt, nickel, copper, aluminum and other metals from lithium-ion batteries, while the US$1.75 billion grassroot cathode active materials (CAM) and copper foil plant will supply important components to produce lithium-ion batteries; cathode active materials are made from recycled lithium, nickel and cobalt and are responsible for storing and releasing lithium ions during the charging and discharging of a battery, while copper foil allows electric current to flow while also dissipating heat generated by the battery.
In November, Redwood said it would "soon break ground" on the campus; Industrial Info is tracking a completion date of late 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can read detailed reports on the battery-recycling and materials plants.
In Canada, Umicore (Brussels, Belgium) plans to begin construction of a US$1.5 billion grassroot cathode and precursor active materials (pCAM) plant in Ontario. pCAM refers to raw materials used in CAM production. The facility will produce 35 gigawatt-hours annually, enough materials for 1 million EVs. Construction also is expected to wrap up in late 2025, with production ramping up in mid-2026. Subscribers can click here for the project report.
Global steel giant ArcelorMittal (NYSE:MT) (Luxembourg, Luxembourg) leads all companies in Canada with more than $2 billion in investment in first-quarter kickoffs. That includes two major undertakings to reduce carbon dioxide emissions at its Hamilton Steel Works in Ontario by about 3 million tons, representing about 60% of the facility's emissions, within the next seven years: a US$1.3 billion electric arc furnace (EAF) addition and a US$599 billion direct reduced iron (DRI) addition will transition the site away from traditional steelmaking production and help decarbonize operations. This effort will remove coal from the ironmaking process, and the new 2.5-million-ton DRI furnace will initially operate on natural gas but will be constructed to utilize clean hydrogen. The governments of Canada and Ontario have committed C$400 million (US$299 million) and C$500 million (US$373 million), respectively, to the overall project cost. Subscribers can read detailed reports on the EAF and DRI projects, both of which are expected to wrap up in late 2026.
A major non-ESG project expected to kick off in the first quarter is the construction of Nevada Gold Mines' (NGM) (Elko, Nevada) Goldrush underground mine in Nevada. Nevada Gold Mines is operated by Barrick Gold Corporation (NYSE:GOLD) (Toronto, Canada) and is a joint venture between Barrick (61.5%) and Newmont Corporation (NYSE:NEM) (Greenwood Village, Colorado). In December, the U.S. Bureau of Land Management approved the $1 billion project, which is expected to start ramping up production in 2024, after the commissioning of the initial project infrastructure, according to Barrick Gold. Click here for the related project report, and for more information, see December 14, 2023, article - Goldrush Mine in Nevada Gets Green Light.
Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina) expects construction of a transmission tower-production plant in Crawfordsville, Indiana will kick off in February. The project, expected to wrap up in mid-2025, is part of a two-phased, US$270 million effort to construct two transmission tower-production plants, adjacent to two respective, existing steel sheet mills. Nucor has said both projects could be fast-tracked. Click here for the Indiana project report, and here for information on the other transmission-tower project, already underway in Alabama.
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Joe Govreau, Industrial Info's vice president of research for the Metals & Minerals Industry, said in July that U.S. and Canadian spending activity in the industry was up 25%, thanks largely to various government stimuli regarding critical mineral supplies--components essential to the energy transition. He said this has resulted in increased reshoring and friend-shoring (establishing production in an allied country). For more information on this and other environmental, social and governance (ESG) initiatives affecting industry spending, see July 20, 2023, article - IIR Webinar: Geopolitics, Resource Nationalism, ESG Initiatives Affect Mining Spending.
Redwood Materials Incorporated (Carson City, Nevada) expects it will begin construction in the first quarter on US$3.5 billion worth of projects for its new electric vehicle (EV) battery recycling and material production campus in Ridgeville, South Carolina, outside Charleston. The US$1.75 billion grassroot lithium-ion battery recycling plant will recover cobalt, nickel, copper, aluminum and other metals from lithium-ion batteries, while the US$1.75 billion grassroot cathode active materials (CAM) and copper foil plant will supply important components to produce lithium-ion batteries; cathode active materials are made from recycled lithium, nickel and cobalt and are responsible for storing and releasing lithium ions during the charging and discharging of a battery, while copper foil allows electric current to flow while also dissipating heat generated by the battery.
In November, Redwood said it would "soon break ground" on the campus; Industrial Info is tracking a completion date of late 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can read detailed reports on the battery-recycling and materials plants.
In Canada, Umicore (Brussels, Belgium) plans to begin construction of a US$1.5 billion grassroot cathode and precursor active materials (pCAM) plant in Ontario. pCAM refers to raw materials used in CAM production. The facility will produce 35 gigawatt-hours annually, enough materials for 1 million EVs. Construction also is expected to wrap up in late 2025, with production ramping up in mid-2026. Subscribers can click here for the project report.
Global steel giant ArcelorMittal (NYSE:MT) (Luxembourg, Luxembourg) leads all companies in Canada with more than $2 billion in investment in first-quarter kickoffs. That includes two major undertakings to reduce carbon dioxide emissions at its Hamilton Steel Works in Ontario by about 3 million tons, representing about 60% of the facility's emissions, within the next seven years: a US$1.3 billion electric arc furnace (EAF) addition and a US$599 billion direct reduced iron (DRI) addition will transition the site away from traditional steelmaking production and help decarbonize operations. This effort will remove coal from the ironmaking process, and the new 2.5-million-ton DRI furnace will initially operate on natural gas but will be constructed to utilize clean hydrogen. The governments of Canada and Ontario have committed C$400 million (US$299 million) and C$500 million (US$373 million), respectively, to the overall project cost. Subscribers can read detailed reports on the EAF and DRI projects, both of which are expected to wrap up in late 2026.
A major non-ESG project expected to kick off in the first quarter is the construction of Nevada Gold Mines' (NGM) (Elko, Nevada) Goldrush underground mine in Nevada. Nevada Gold Mines is operated by Barrick Gold Corporation (NYSE:GOLD) (Toronto, Canada) and is a joint venture between Barrick (61.5%) and Newmont Corporation (NYSE:NEM) (Greenwood Village, Colorado). In December, the U.S. Bureau of Land Management approved the $1 billion project, which is expected to start ramping up production in 2024, after the commissioning of the initial project infrastructure, according to Barrick Gold. Click here for the related project report, and for more information, see December 14, 2023, article - Goldrush Mine in Nevada Gets Green Light.
Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina) expects construction of a transmission tower-production plant in Crawfordsville, Indiana will kick off in February. The project, expected to wrap up in mid-2025, is part of a two-phased, US$270 million effort to construct two transmission tower-production plants, adjacent to two respective, existing steel sheet mills. Nucor has said both projects could be fast-tracked. Click here for the Indiana project report, and here for information on the other transmission-tower project, already underway in Alabama.
Subscribers to the GMI Database can click here to view reports for all of the projects discussed in this article, and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
