A consortium of Ford Motor Co and South Korean companies on Thursday said they would build a C$1.2 billion ($887 million)plant to produce electric vehicle (EVs) battery materials in Becancour, Quebec, a town seeking to become an EV-supply-chain hub, Canada’s ...

The transaction was expected to close by the first quarter of 2024.

“The demand for that type of steel is going to far outpace the supply of that material,” he added.

Investment fund Engine No. 1, known for its battle with Exxon Mobil Corp. and recently taking a surprise stake in Vale SA’s base metals business, is eying more deals in critical minerals.

Nickel company Panoramic Resources will be looking to expand its portfolio within the next 12 to 18 months, MD and CEO Victor Rajasooriar said.

Horizonte Minerals Plc (AIM: HZM | TSX: HZM) has reported good progress on the construction of its wholly-owned Araguaia Nickel Project. The company is targeting its first metal in Q1 2024.

Australia’s Nickel Industries said on Monday it would seek shareholder approval for a A$943 million ($620 million) share placement to pursue growth opportunities including potential expansion at its Excelsior Nickel Cobalt (ENC) project in Indonesia.

Nickel miner Vale Indonesia is planning to divest 14% of its stake this year to fulfill divestment rules, Indonesia’s mining minister Arifin Tasrif told reporters on Friday.