Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Industrial Production & Economic Growth Increasing Metal Ore Mining Demand & Profitability By: FinancialNewsMedia August 18, 2022 at 08:45 AM EDT Palm Beach, FL – August 18, 2022 – FinancialNewsMedia.com News Commentary – Non-ferrous metals are alloys or metals that do not contain any appreciable amounts of iron. All pure metals are non-ferrous elements, except for iron (Fe), which is also called ferrite from the Latin ‘ferrum,’ meaning “iron.” Non-ferrous metals tend to be more expensive than ferrous metals but are used for their desirable properties, including light weight (aluminium), high conductivity (copper), non magnetic properties or resistance to corrosion (zinc). Some non-ferrous materials are used in the iron and steel industries, such as bauxite, which is used for flux in blast furnaces. Other non-ferrous metals, including chromite, pyrolusite and wolframite, are used to make ferrous alloys. However, many non-ferrous metals have low melting points, making them less suitable for applications at high temperatures. There are a large number of non-ferrous materials, covering every metal and alloy that does not contain iron. Non-ferrous metals include aluminium, copper, lead, nickel, tin, titanium and zinc, as well as copper alloys like brass and bronze. Other rare or precious non-ferrous metals include gold, silver and platinum, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium. Non-ferrous metals are usually obtained from minerals like carbonates, silicates and sulphides before being refined through electrolysis. Active companies in the markets this week include Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN), Ferroglobe PLC (NASDAQ: GSM), ArcelorMittal S.A. (NYSE: MT), MP Materials Corp. (NYSE: MP), Rio Tinto Group (NYSE: RIO). A report from Dun & Bradstreet said: “Companies in (the metal ore mining) industry develop mine sites, mine and quarry metallic minerals and provide related support services, and prepare minerals for sale… The world’s most exploited commodities are iron ore, coal, potash, and copper, according to Statista. China is the world’s leading country in the mine production of gold, and is becoming the top mining country, especially for rare earths, producing about 60% of the global production in 2020 (and beyond). The US metal ore mining industry includes about 270 establishments with combined annual revenue of about $30 billion, as well as 200 establishments (single-location companies and units of multi-location companies) that provide related support services and generate annual revenue of about $1 billion. The industry includes companies that mine and process gold, silver, copper, nickel, lead, zinc, iron ore, uranium, and other metals.” Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) BREAKING NEWS: Nisun International Completes Acquisition of Qingdao Sailang International to Support its International Metal Ore Supply Chain Initiatives – Nisun International Enterprise Development Group Co(“Nisun” or the “Company”), a provider of innovative comprehensive solutions through an integration of technology, industry, and finance, today announced that it has completed the acquisition of Qingdao Sailang International Trade Co., Ltd (“Qingdao Sailang”), a company engaged in domestic and international trades of metal ore, for RMB5 million, or approximately USD741.5 thousands. Following the acquisition, the Company owns 100% of the equity in Qingdao Sailang through its subsidiary, NiSun Ocean (Qingdao) Supply Chain Investment Co., Ltd. The transaction was financed with cash on hand. Qingdao Sailang primarily operates in the international trade of metal ore, such as silver ore, zinc concentrate, lead concentrate and other non-ferrous metals, within mainland China, as well as Southeast Asian and South American regions, including the Philippines and Venezuela. Through this acquisition, Qingdao Sailang will benefit from Nisun’s professional supply chain management team to further broaden the scale of its business. Mr. Xiaoyun Huang, Chief Executive Officer of Nisun, commented, “Qingdao Sailang controls an extensive metal ore supply chain network. This business combination provides us with opportunities to enter into the metal ore industry, while facilitating the development of our international supply chain business. We look forward to innovating and expanding access to quality international supply chains in various industries together.” CONTINUED… Read the Nisun International Enterprise full press release by going to: http://ir.nisun-international.com/press.html Additional recent developments in the markets this week include: Ferroglobe PLC (NASDAQ: GSM), a leading producer globally of silicon metal, silicon-based and manganese-based specialty alloys, recently announced results for the second quarter 2022. Dr. Marco Levi, Ferroglobe’s Chief Executive Officer, commented, “Since designing our transformation plan in 2020, our team has been resilient in pushing forward to bolster our overall competitiveness by refocusing the product portfolio towards higher value added products and continuously improving our cost position. I am proud that for six consecutive quarters now, we have steadily improved our financial results on the back of these various initiatives, and are currently reporting a record-setting second quarter. Our profitablity is the highest in company history, our net debt is the lowest since the formation of Ferroglobe, and our daily operations are running seamlessly. This drastic improvement in our operational and financial results reinforce our current strategy and approach to driving change so that we can ensure that our company remains competitive for the long-term.” “As the operating environment evolves, our business continues to evolve. We recently published our inaugural ESG report as an initial step towards increased transparency through reporting of key performance metrics. We continue to feel good about the near-term fundamentals in terms of overall demand and pricing, relative to historical pricing levels. However, in the face of macro uncertainty, inflation, and the global energy crisis, we are entering the second half of the year with a degree of caution. Our primary focus remains on driving profitability and cash generation so that we can deliver on our goals,” concluded Dr. Levi. ArcelorMittal S.A. (NYSE: MT) recently announced it has signed an agreement with the shareholders of Companhia Siderúrgica do Pecém (‘CSP’) to acquire CSP for an enterprise value of approximately $2.2 billion. Transaction closing is subject to certain corporate and regulatory approvals, including CADE (Brazilian antitrust) approval which is expected by late 2022. CSP is a world-class operation, producing high-quality slab at a globally competitive cost. CSP’s state-of-the-art steel facility in the state of Ceará in northeast Brazil was commissioned in 2016 and produced its first slabs in June of that year. It operates a three million tonne capacity blast furnace and has access via conveyors to the Port of Pecém, a large scale, deep water port located 10 kilometers from the plant. CSP operates within Brazil’s first Export Processing Zone, and benefits from various tax incentives including a low corporate income tax rate. MP Materials Corp. (NYSE: MP) recently announced financial results for the three months ended June 30, 2022. “The MP team delivered another quarter of solid execution and strong financial performance. We benefited from higher pricing and tightly managed costs while adding talent to the team,” said MP Materials Chairman and CEO, James H. Litinsky. “We continue to progress toward completing Stage II construction, targeted for year end, and our initial Stage III magnetics facility in Texas is rapidly taking shape.” Revenue increased 96% year-over-year, driven by increases in the realized price of rare earth oxide (“REO”) in concentrate. The 90% increase in realized price compared to the second quarter of 2021 was due to higher demand for rare earths driving increased market prices. The 1% year-over-year increase in metric tons (“MT”) sold was mainly due to the timing of shipments, which fluctuate quarter-to-quarter but approximate production volumes over time. Production volumes compared to the second quarter of 2021 were essentially unchanged. Rio Tinto Group (NYSE: RIO) has recently completed the sale of a royalty it holds on an area including the Cortez mine operational area and the Fourmile development project in Nevada (the “Cortez Complex”) to RG Royalties LLC, a direct wholly-owned subsidiary of Royal Gold Inc., for $525 million in cash. The Cortez Royalty is a 1.2%1 gross production royalty on (i) the Cortez gold mine that is operated by Nevada Gold Mines, a joint venture between Barrick Gold Corporation (“Barrick”) and Newmont Corporation; and (ii) the Fourmile project which is 100% owned and operated by Barrick. Rio Tinto obtained the royalty as partial consideration for the sale of its 40% interest in the Cortez Complex to Barrick in 2008. Royalty payments commence once the Cortez Complex has produced a total of 15 million ounces of gold since 2008. This is expected to occur imminently. Rio Tinto Chief Financial Officer Peter Cunningham said: “This transaction unlocks hidden value from our portfolio and releases cash immediately.” DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for news coverage of the current press releases issued by Nisun International Enterprise Development Group Co., Ltd by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements. Contact Information: Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 SOURCE Financialnewsmedia.com The post Industrial Production & Economic Growth Increasing Metal Ore Mining Demand & Profitability appeared first on Financial News Media. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Industrial Production & Economic Growth Increasing Metal Ore Mining Demand & Profitability By: FinancialNewsMedia August 18, 2022 at 08:45 AM EDT Palm Beach, FL – August 18, 2022 – FinancialNewsMedia.com News Commentary – Non-ferrous metals are alloys or metals that do not contain any appreciable amounts of iron. All pure metals are non-ferrous elements, except for iron (Fe), which is also called ferrite from the Latin ‘ferrum,’ meaning “iron.” Non-ferrous metals tend to be more expensive than ferrous metals but are used for their desirable properties, including light weight (aluminium), high conductivity (copper), non magnetic properties or resistance to corrosion (zinc). Some non-ferrous materials are used in the iron and steel industries, such as bauxite, which is used for flux in blast furnaces. Other non-ferrous metals, including chromite, pyrolusite and wolframite, are used to make ferrous alloys. However, many non-ferrous metals have low melting points, making them less suitable for applications at high temperatures. There are a large number of non-ferrous materials, covering every metal and alloy that does not contain iron. Non-ferrous metals include aluminium, copper, lead, nickel, tin, titanium and zinc, as well as copper alloys like brass and bronze. Other rare or precious non-ferrous metals include gold, silver and platinum, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium. Non-ferrous metals are usually obtained from minerals like carbonates, silicates and sulphides before being refined through electrolysis. Active companies in the markets this week include Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN), Ferroglobe PLC (NASDAQ: GSM), ArcelorMittal S.A. (NYSE: MT), MP Materials Corp. (NYSE: MP), Rio Tinto Group (NYSE: RIO). A report from Dun & Bradstreet said: “Companies in (the metal ore mining) industry develop mine sites, mine and quarry metallic minerals and provide related support services, and prepare minerals for sale… The world’s most exploited commodities are iron ore, coal, potash, and copper, according to Statista. China is the world’s leading country in the mine production of gold, and is becoming the top mining country, especially for rare earths, producing about 60% of the global production in 2020 (and beyond). The US metal ore mining industry includes about 270 establishments with combined annual revenue of about $30 billion, as well as 200 establishments (single-location companies and units of multi-location companies) that provide related support services and generate annual revenue of about $1 billion. The industry includes companies that mine and process gold, silver, copper, nickel, lead, zinc, iron ore, uranium, and other metals.” Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) BREAKING NEWS: Nisun International Completes Acquisition of Qingdao Sailang International to Support its International Metal Ore Supply Chain Initiatives – Nisun International Enterprise Development Group Co(“Nisun” or the “Company”), a provider of innovative comprehensive solutions through an integration of technology, industry, and finance, today announced that it has completed the acquisition of Qingdao Sailang International Trade Co., Ltd (“Qingdao Sailang”), a company engaged in domestic and international trades of metal ore, for RMB5 million, or approximately USD741.5 thousands. Following the acquisition, the Company owns 100% of the equity in Qingdao Sailang through its subsidiary, NiSun Ocean (Qingdao) Supply Chain Investment Co., Ltd. The transaction was financed with cash on hand. Qingdao Sailang primarily operates in the international trade of metal ore, such as silver ore, zinc concentrate, lead concentrate and other non-ferrous metals, within mainland China, as well as Southeast Asian and South American regions, including the Philippines and Venezuela. Through this acquisition, Qingdao Sailang will benefit from Nisun’s professional supply chain management team to further broaden the scale of its business. Mr. Xiaoyun Huang, Chief Executive Officer of Nisun, commented, “Qingdao Sailang controls an extensive metal ore supply chain network. This business combination provides us with opportunities to enter into the metal ore industry, while facilitating the development of our international supply chain business. We look forward to innovating and expanding access to quality international supply chains in various industries together.” CONTINUED… Read the Nisun International Enterprise full press release by going to: http://ir.nisun-international.com/press.html Additional recent developments in the markets this week include: Ferroglobe PLC (NASDAQ: GSM), a leading producer globally of silicon metal, silicon-based and manganese-based specialty alloys, recently announced results for the second quarter 2022. Dr. Marco Levi, Ferroglobe’s Chief Executive Officer, commented, “Since designing our transformation plan in 2020, our team has been resilient in pushing forward to bolster our overall competitiveness by refocusing the product portfolio towards higher value added products and continuously improving our cost position. I am proud that for six consecutive quarters now, we have steadily improved our financial results on the back of these various initiatives, and are currently reporting a record-setting second quarter. Our profitablity is the highest in company history, our net debt is the lowest since the formation of Ferroglobe, and our daily operations are running seamlessly. This drastic improvement in our operational and financial results reinforce our current strategy and approach to driving change so that we can ensure that our company remains competitive for the long-term.” “As the operating environment evolves, our business continues to evolve. We recently published our inaugural ESG report as an initial step towards increased transparency through reporting of key performance metrics. We continue to feel good about the near-term fundamentals in terms of overall demand and pricing, relative to historical pricing levels. However, in the face of macro uncertainty, inflation, and the global energy crisis, we are entering the second half of the year with a degree of caution. Our primary focus remains on driving profitability and cash generation so that we can deliver on our goals,” concluded Dr. Levi. ArcelorMittal S.A. (NYSE: MT) recently announced it has signed an agreement with the shareholders of Companhia Siderúrgica do Pecém (‘CSP’) to acquire CSP for an enterprise value of approximately $2.2 billion. Transaction closing is subject to certain corporate and regulatory approvals, including CADE (Brazilian antitrust) approval which is expected by late 2022. CSP is a world-class operation, producing high-quality slab at a globally competitive cost. CSP’s state-of-the-art steel facility in the state of Ceará in northeast Brazil was commissioned in 2016 and produced its first slabs in June of that year. It operates a three million tonne capacity blast furnace and has access via conveyors to the Port of Pecém, a large scale, deep water port located 10 kilometers from the plant. CSP operates within Brazil’s first Export Processing Zone, and benefits from various tax incentives including a low corporate income tax rate. MP Materials Corp. (NYSE: MP) recently announced financial results for the three months ended June 30, 2022. “The MP team delivered another quarter of solid execution and strong financial performance. We benefited from higher pricing and tightly managed costs while adding talent to the team,” said MP Materials Chairman and CEO, James H. Litinsky. “We continue to progress toward completing Stage II construction, targeted for year end, and our initial Stage III magnetics facility in Texas is rapidly taking shape.” Revenue increased 96% year-over-year, driven by increases in the realized price of rare earth oxide (“REO”) in concentrate. The 90% increase in realized price compared to the second quarter of 2021 was due to higher demand for rare earths driving increased market prices. The 1% year-over-year increase in metric tons (“MT”) sold was mainly due to the timing of shipments, which fluctuate quarter-to-quarter but approximate production volumes over time. Production volumes compared to the second quarter of 2021 were essentially unchanged. Rio Tinto Group (NYSE: RIO) has recently completed the sale of a royalty it holds on an area including the Cortez mine operational area and the Fourmile development project in Nevada (the “Cortez Complex”) to RG Royalties LLC, a direct wholly-owned subsidiary of Royal Gold Inc., for $525 million in cash. The Cortez Royalty is a 1.2%1 gross production royalty on (i) the Cortez gold mine that is operated by Nevada Gold Mines, a joint venture between Barrick Gold Corporation (“Barrick”) and Newmont Corporation; and (ii) the Fourmile project which is 100% owned and operated by Barrick. Rio Tinto obtained the royalty as partial consideration for the sale of its 40% interest in the Cortez Complex to Barrick in 2008. Royalty payments commence once the Cortez Complex has produced a total of 15 million ounces of gold since 2008. This is expected to occur imminently. Rio Tinto Chief Financial Officer Peter Cunningham said: “This transaction unlocks hidden value from our portfolio and releases cash immediately.” DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for news coverage of the current press releases issued by Nisun International Enterprise Development Group Co., Ltd by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements. Contact Information: Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 SOURCE Financialnewsmedia.com The post Industrial Production & Economic Growth Increasing Metal Ore Mining Demand & Profitability appeared first on Financial News Media.
Palm Beach, FL – August 18, 2022 – FinancialNewsMedia.com News Commentary – Non-ferrous metals are alloys or metals that do not contain any appreciable amounts of iron. All pure metals are non-ferrous elements, except for iron (Fe), which is also called ferrite from the Latin ‘ferrum,’ meaning “iron.” Non-ferrous metals tend to be more expensive than ferrous metals but are used for their desirable properties, including light weight (aluminium), high conductivity (copper), non magnetic properties or resistance to corrosion (zinc). Some non-ferrous materials are used in the iron and steel industries, such as bauxite, which is used for flux in blast furnaces. Other non-ferrous metals, including chromite, pyrolusite and wolframite, are used to make ferrous alloys. However, many non-ferrous metals have low melting points, making them less suitable for applications at high temperatures. There are a large number of non-ferrous materials, covering every metal and alloy that does not contain iron. Non-ferrous metals include aluminium, copper, lead, nickel, tin, titanium and zinc, as well as copper alloys like brass and bronze. Other rare or precious non-ferrous metals include gold, silver and platinum, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium. Non-ferrous metals are usually obtained from minerals like carbonates, silicates and sulphides before being refined through electrolysis. Active companies in the markets this week include Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN), Ferroglobe PLC (NASDAQ: GSM), ArcelorMittal S.A. (NYSE: MT), MP Materials Corp. (NYSE: MP), Rio Tinto Group (NYSE: RIO). A report from Dun & Bradstreet said: “Companies in (the metal ore mining) industry develop mine sites, mine and quarry metallic minerals and provide related support services, and prepare minerals for sale… The world’s most exploited commodities are iron ore, coal, potash, and copper, according to Statista. China is the world’s leading country in the mine production of gold, and is becoming the top mining country, especially for rare earths, producing about 60% of the global production in 2020 (and beyond). The US metal ore mining industry includes about 270 establishments with combined annual revenue of about $30 billion, as well as 200 establishments (single-location companies and units of multi-location companies) that provide related support services and generate annual revenue of about $1 billion. The industry includes companies that mine and process gold, silver, copper, nickel, lead, zinc, iron ore, uranium, and other metals.” Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) BREAKING NEWS: Nisun International Completes Acquisition of Qingdao Sailang International to Support its International Metal Ore Supply Chain Initiatives – Nisun International Enterprise Development Group Co(“Nisun” or the “Company”), a provider of innovative comprehensive solutions through an integration of technology, industry, and finance, today announced that it has completed the acquisition of Qingdao Sailang International Trade Co., Ltd (“Qingdao Sailang”), a company engaged in domestic and international trades of metal ore, for RMB5 million, or approximately USD741.5 thousands. Following the acquisition, the Company owns 100% of the equity in Qingdao Sailang through its subsidiary, NiSun Ocean (Qingdao) Supply Chain Investment Co., Ltd. The transaction was financed with cash on hand. Qingdao Sailang primarily operates in the international trade of metal ore, such as silver ore, zinc concentrate, lead concentrate and other non-ferrous metals, within mainland China, as well as Southeast Asian and South American regions, including the Philippines and Venezuela. Through this acquisition, Qingdao Sailang will benefit from Nisun’s professional supply chain management team to further broaden the scale of its business. Mr. Xiaoyun Huang, Chief Executive Officer of Nisun, commented, “Qingdao Sailang controls an extensive metal ore supply chain network. This business combination provides us with opportunities to enter into the metal ore industry, while facilitating the development of our international supply chain business. We look forward to innovating and expanding access to quality international supply chains in various industries together.” CONTINUED… Read the Nisun International Enterprise full press release by going to: http://ir.nisun-international.com/press.html Additional recent developments in the markets this week include: Ferroglobe PLC (NASDAQ: GSM), a leading producer globally of silicon metal, silicon-based and manganese-based specialty alloys, recently announced results for the second quarter 2022. Dr. Marco Levi, Ferroglobe’s Chief Executive Officer, commented, “Since designing our transformation plan in 2020, our team has been resilient in pushing forward to bolster our overall competitiveness by refocusing the product portfolio towards higher value added products and continuously improving our cost position. I am proud that for six consecutive quarters now, we have steadily improved our financial results on the back of these various initiatives, and are currently reporting a record-setting second quarter. Our profitablity is the highest in company history, our net debt is the lowest since the formation of Ferroglobe, and our daily operations are running seamlessly. This drastic improvement in our operational and financial results reinforce our current strategy and approach to driving change so that we can ensure that our company remains competitive for the long-term.” “As the operating environment evolves, our business continues to evolve. We recently published our inaugural ESG report as an initial step towards increased transparency through reporting of key performance metrics. We continue to feel good about the near-term fundamentals in terms of overall demand and pricing, relative to historical pricing levels. However, in the face of macro uncertainty, inflation, and the global energy crisis, we are entering the second half of the year with a degree of caution. Our primary focus remains on driving profitability and cash generation so that we can deliver on our goals,” concluded Dr. Levi. ArcelorMittal S.A. (NYSE: MT) recently announced it has signed an agreement with the shareholders of Companhia Siderúrgica do Pecém (‘CSP’) to acquire CSP for an enterprise value of approximately $2.2 billion. Transaction closing is subject to certain corporate and regulatory approvals, including CADE (Brazilian antitrust) approval which is expected by late 2022. CSP is a world-class operation, producing high-quality slab at a globally competitive cost. CSP’s state-of-the-art steel facility in the state of Ceará in northeast Brazil was commissioned in 2016 and produced its first slabs in June of that year. It operates a three million tonne capacity blast furnace and has access via conveyors to the Port of Pecém, a large scale, deep water port located 10 kilometers from the plant. CSP operates within Brazil’s first Export Processing Zone, and benefits from various tax incentives including a low corporate income tax rate. MP Materials Corp. (NYSE: MP) recently announced financial results for the three months ended June 30, 2022. “The MP team delivered another quarter of solid execution and strong financial performance. We benefited from higher pricing and tightly managed costs while adding talent to the team,” said MP Materials Chairman and CEO, James H. Litinsky. “We continue to progress toward completing Stage II construction, targeted for year end, and our initial Stage III magnetics facility in Texas is rapidly taking shape.” Revenue increased 96% year-over-year, driven by increases in the realized price of rare earth oxide (“REO”) in concentrate. The 90% increase in realized price compared to the second quarter of 2021 was due to higher demand for rare earths driving increased market prices. The 1% year-over-year increase in metric tons (“MT”) sold was mainly due to the timing of shipments, which fluctuate quarter-to-quarter but approximate production volumes over time. Production volumes compared to the second quarter of 2021 were essentially unchanged. Rio Tinto Group (NYSE: RIO) has recently completed the sale of a royalty it holds on an area including the Cortez mine operational area and the Fourmile development project in Nevada (the “Cortez Complex”) to RG Royalties LLC, a direct wholly-owned subsidiary of Royal Gold Inc., for $525 million in cash. The Cortez Royalty is a 1.2%1 gross production royalty on (i) the Cortez gold mine that is operated by Nevada Gold Mines, a joint venture between Barrick Gold Corporation (“Barrick”) and Newmont Corporation; and (ii) the Fourmile project which is 100% owned and operated by Barrick. Rio Tinto obtained the royalty as partial consideration for the sale of its 40% interest in the Cortez Complex to Barrick in 2008. Royalty payments commence once the Cortez Complex has produced a total of 15 million ounces of gold since 2008. This is expected to occur imminently. Rio Tinto Chief Financial Officer Peter Cunningham said: “This transaction unlocks hidden value from our portfolio and releases cash immediately.” DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for news coverage of the current press releases issued by Nisun International Enterprise Development Group Co., Ltd by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements. Contact Information: Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 SOURCE Financialnewsmedia.com The post Industrial Production & Economic Growth Increasing Metal Ore Mining Demand & Profitability appeared first on Financial News Media.
