MX Holdings, Century Aluminum Form Joint Venture; TMC Supports Seafloor Legislation And More: Wednesday's Top Mining Stories
Portfolio Pulse from Austin DeNoce
MX Holdings and Century Aluminum Company (CENX) form a joint venture for low-carbon secondary billet production, aiming for a 2026 start in the Ohio Valley. TMC the metals company Inc. (TMC) supports new U.S. seafloor nodule collection legislation. ArcelorMittal (OTC:AMSYF) buys a 28.4% stake in Vallourec. Ferroglobe PLC (GSM) appoints Carsten Larsen as CCO. Citigroup downgrades Cleveland-Cliffs (CLF) to Neutral with a $22 target. Morgan Stanley downgrades MP Materials (MP) to Equal-Weight with a $15.50 target.
March 13, 2024 | 9:38 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Citigroup downgrades Cleveland-Cliffs from Buy to Neutral with a $22 price target.
The downgrade by Citigroup could lead to short-term negative sentiment among investors, potentially impacting CLF's stock price.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Morgan Stanley downgrades MP Materials to Equal-Weight with a $15.50 price target.
The downgrade by Morgan Stanley may negatively affect investor confidence and MP's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
ArcelorMittal acquires a 28.4% stake in Vallourec, enhancing its presence in the high-value tubular market.
This strategic acquisition positions ArcelorMittal favorably in the tubular solutions sector, likely to positively impact its market share and investor perception.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Century Aluminum partners with MX Holdings for a sustainable billet production venture, aiming to start in 2026.
The joint venture focuses on sustainability and recycling, meeting growing market demand for eco-friendly materials, likely boosting CENX's market position and investor interest.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Ferroglobe appoints Carsten Larsen as chief commercial officer, leveraging his 30 years of experience.
Larsen's extensive experience in business growth and sales is expected to drive Ferroglobe's commercial strategies and market positioning.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
TMC supports the Responsible Use of Seafloor Resources Act, aiming for U.S. backing in seafloor nodule collection.
The legislation could significantly benefit TMC by supporting its seafloor nodule collection efforts, potentially leading to increased investment and project viability.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90