News in Numbers

$14.9bn

Nippon Steel completed the $14.9bn acquisition of US Steel, agreed in December 2023, creating a leading steelmaker with advanced technologies and manufacturing capabilities.

30 years

Greenland Resources has been granted a 30 year exploitation licence for molybdenum and magnesium at the Malmbjerg project in Greenland. Mining activities must commence by 31 December 2028.

60%

NOVAGOLD has increased its stake in the Donlin Gold project in the US state of Alaska to 60% after acquiring a 10% stake from Barrick Mining for $200m. Paulson also secured a 40% interest from Barrick for $800m.

500,000 tpa

The production ramp-up at Oyu Tolgoi, operated by a JV of Rio Tinto (66%) and Mongolia, is on course to yield an average of 500,000 tonnes per annum of copper from 2028 to 2036.

13

The European Commission has published a decision recognising 13 critical raw material projects located in non-EU countries as strategic projects under the Critical Raw Materials Act.