Korea Zinc US Assets Deal Secures America’s Only Primary Zinc Smelter

Korea Zinc

Korea Zinc US assets expansion has advanced after Nyrstar sold its East Tennessee and Mid Tennessee mining complexes and the Clarksville smelter to the South Korean metals producer. The transaction gives Korea Zinc direct control of key zinc mining and smelting infrastructure in the US.

The sale was first announced in December and was completed after regulatory and governmental approvals. Financial details were not disclosed.

Korea Zinc US assets now include the Clarksville smelter, which Nyrstar described as the only primary zinc smelter in the US. That makes the transaction strategically important for domestic zinc supply, industrial resilience and future non-ferrous processing capacity.

Clarksville Smelter Strengthens Domestic Zinc Supply

The Clarksville smelter gives Korea Zinc an established operating base in the US zinc market. Zinc remains essential for galvanizing steel, construction, infrastructure, automotive production, energy systems and manufacturing.

Trafigura will continue to sell Clarksville’s zinc metal and supply concentrate and oxide to the operation through the end of 2026. This transition arrangement should help maintain operational continuity while Korea Zinc prepares its broader investment strategy.

The Tennessee mining complexes also add upstream relevance. Control of mining assets and smelting infrastructure gives Korea Zinc a stronger position across feedstock access, processing and finished metal supply.

Korea Zinc Plans Larger Non-Ferrous Smelting Platform

Korea Zinc has already outlined a much larger US ambition. The company announced plans in December to build a $7.4bn smelter on the acquired, fully permitted sites through a joint venture with the US defense and commerce departments.

The planned facility would produce 13 non-ferrous products. Construction is expected to begin in 2027, followed by phased production from 2029, starting with zinc, lead and copper.

The new smelter is expected to process 1.1mn t/yr of raw materials and produce 540,000 t/yr of finished products. If delivered, the project would significantly expand US non-ferrous processing capacity and support domestic supply chains for strategic industrial metals.

The Metalnomist Commentary

Korea Zinc’s acquisition is more than a zinc transaction. It positions a major Asian smelter inside the US industrial base at a time when domestic processing capacity has become a strategic priority.

Electra Cobalt Offtake Extension Secures LG Energy Solution’s Battery Supply

Electra

Electra cobalt offtake terms have been extended by LG Energy Solution, giving the South Korean battery maker longer access to battery-grade cobalt sulfate from Canada. The updated agreement shows how battery manufacturers continue to secure regional critical mineral supply even as cobalt demand faces changing battery chemistry trends.

Under the revised deal, LG Energy Solution will take 60% of Electra Battery Materials’ cobalt sulfate production through 2029. The agreement also includes an option to extend the offtake terms to 2032. LGES first agreed in 2022 to buy battery-grade cobalt sulfate from Electra for three years.

The Electra cobalt offtake update is strategically important because it supports a North American refining route for battery materials. Electra is developing a cobalt sulfate refinery in Ontario, Canada, with commercial production expected in the fourth quarter of 2027.

Ontario Refinery Becomes Key to Regional Cobalt Processing

Electra’s Ontario cobalt refinery has faced delays, but the project is now moving forward again. Financial constraints and supply chain disruptions paused construction in 2023, before Electra restarted work in November after approving a $73 million construction budget.

The company expects early commissioning to begin in the fourth quarter of 2026. Commercial production is planned for the fourth quarter of 2027. Once operating, the refinery is expected to initially produce 5,120 tonnes per year of contained cobalt.

Electra’s nameplate capacity could reach up to 6,500 tonnes per year of contained cobalt. This scale would not transform global cobalt supply alone, but it could provide an important regional source of battery-grade cobalt sulfate for North American and allied battery supply chains.

LGES Strengthens Critical Mineral Security Through Long-Term Supply

LG Energy Solution’s extended agreement shows that battery makers still value secure cobalt supply despite growth in lower-cobalt and cobalt-free chemistries. High-nickel battery systems and certain performance-focused applications continue to require reliable cobalt inputs.

The Electra cobalt offtake deal also supports supply chain diversification away from highly concentrated refining regions. For LGES, Canadian cobalt sulfate could help reduce procurement risk and support compliance with regional sourcing expectations in North America.

For Electra, the updated agreement strengthens commercial visibility before the refinery reaches production. Long-term offtake support can help improve project bankability, especially for critical mineral processing assets that require high capital spending before revenue begins.

The Metalnomist Commentary

The Electra-LGES deal shows that cobalt has not disappeared from battery supply strategy. Even as chemistries diversify, battery-grade refining capacity in North America remains strategically valuable for automakers, cell makers, and policy-driven supply chains.

Lynas Rare Earths Permit Extension Secures Malaysia Refinery Through 2036

Lynas Rare Earths

Lynas rare earths permit approval in Malaysia gives the Australian producer long-term operating certainty for one of the most important non-Chinese rare earth refining assets. Malaysia’s Department of Atomic Energy extended the company’s refinery operating permit for a decade to 2036, supporting continued light and heavy rare earth oxide production.

The Lynas rare earths permit extension strengthens confidence across the company’s supply chain. Lynas processes rare earth carbonates from Western Australia at its Malaysian plant, making the site a key link between Australian mining and downstream oxide production.

The decision comes as governments and manufacturers seek more secure rare earth supply outside China. For magnet makers, defense contractors, EV suppliers, and industrial technology companies, stable refining capacity is just as important as mine output.

Heavy Rare Earth Separation Becomes the Strategic Growth Area

Lynas expanded its Malaysian refinery in 2025 by building a 1,500 t/yr heavy rare earth separation circuit. The company began producing separated dysprosium and terbium at the site in May and June 2025, respectively.

This is strategically important because dysprosium and terbium are critical inputs for high-performance permanent magnets. These magnets support electric vehicles, wind turbines, robotics, aerospace systems, defense equipment, and advanced electronics.

The Lynas rare earths permit extension allows the company to continue scaling this capability. Lynas plans to build a 5,000 t/yr heavy rare earth separation plant at the Malaysian site in phases over the next two years, deepening its role in the global rare earth value chain.

Malaysian Expansion Supports Wider Rare Earth Product Diversification

Lynas increased saleable rare earth oxide output by 19pc year on year to 6,375t in July-December 2025. This production growth highlights the importance of the Malaysian refinery as demand for separated oxides continues to rise.

The company also plans to broaden its product line. Lynas aims to produce separated samarium from April 2026, before expanding into gadolinium, yttrium, and lutetium by 2028. These additions would give the refinery a wider specialty rare earth platform.

Lynas is also working to support Malaysia’s broader rare earth sector. Its cooperation with Menteri Besar, the investment agency for Kelantan state, signals that Malaysia wants to play a larger role in rare earth processing and industrial development.

The Metalnomist Commentary

The Lynas permit extension is more than a regulatory approval; it is a supply-chain stability event. Western rare earth strategies depend on long-life refining assets, and Malaysia is now positioned as a critical node in heavy rare earth separation.

Samsung SDI US BESS supply deal signals a new supply phase for grid storage

Samsung SDI, BESS

Samsung SDI US BESS supply deal locks in a large, multi-year grid storage order. The contract totals 1.5 trillion won, about $1bn. It runs in phases from 2026 to 2029.

The Samsung SDI US BESS supply deal will serve an unnamed US energy company. The batteries will come from StarPlus Energy in Indiana. StarPlus Energy is Samsung SDI’s joint venture with Stellantis.

What the Samsung SDI US BESS supply deal covers

The initial shipments will use nickel-cobalt-aluminum battery chemistry. This chemistry targets high power and strong cycling performance. Therefore, it fits early ramp needs for utility-scale storage.

Later phases will expand into lithium iron phosphate batteries. LFP improves cost stability and supply resilience. As a result, Samsung SDI can address broader project economics.

Why Indiana production and LFP expansion matter

Indiana-based production reduces logistics risk and delivery lead times. It also helps buyers align with domestic sourcing preferences. Meanwhile, it supports predictable capacity planning for multi-year deployments.

Samsung SDI’s recent US activity reinforces this direction. The company signed a separate two-trillion-won LFP supply agreement last December. Therefore, Samsung SDI positions LFP as a core growth lever in US storage.

The Metalnomist Commentary

This shift signals a maturing BESS market that values bankable delivery over headline capacity. However, margins will depend on raw material spreads and contract pricing formulas. The winners will scale localized supply without losing cost discipline.

Inner Mongolia Luneng rare earth metal plant boosts PrNd supply and prices

Inner Mongolia Luneng rare earth

The Inner Mongolia Luneng rare earth metal plant marks another expansion in China's strategic magnet materials capacity. The Inner Mongolia Luneng rare earth metal plant will add 10,000 t/yr of praseodymium-neodymium metal capacity in Baotou. As a result, the Inner Mongolia Luneng rare earth metal plant will further tighten China’s grip on the global rare earth magnet supply chain.

Baotou strengthens its role as China’s rare earth capital

Inner Mongolia Luneng has secured government approval to build a high-purity rare earth metal line in Baotou. The project will sit inside the rare earth new materials industrial complex at Bayan Obo industrial park. This location links the plant directly to upstream rare earth resources and downstream alloy and magnet makers.

The company will invest Yn265.93mn ($37.35mn) to construct the 10,000 t/yr PrNd metal facility. Construction is expected to take 24 months, although no firm start-up date has been disclosed. However, the project clearly targets surging demand from new energy vehicles, wind turbines, robotics and electronics.

Praseodymium-neodymium metal is the core raw material for high-performance permanent magnets. These magnets power traction motors in EVs and generators in modern wind turbines. Therefore, any new PrNd metal capacity in Baotou has direct implications for the global energy transition supply chain.

Praseodymium-neodymium prices climb on tighter spot supply

Spot prices for praseodymium-neodymium metal have risen sharply since late October. Higher oxide feedstock costs, tighter spot availability and stronger magnet sector purchases all support the uptrend. Futures trading on the Zhonglianjin platform has also pushed oxide prices higher, feeding through to metal.

Prices for 99.9pc PrNd metal increased to Yn680-685/kg ex-works by 10 November. That mid-point represents an 11pc gain from late October levels. Meanwhile, 99pc PrNd oxide prices climbed nearly 10pc to Yn557-562/kg over the same period. These moves highlight how quickly sentiment can shift in a relatively concentrated market.

Magnet producers are responding to firm orders from EV, wind and consumer electronics customers. As a result, they are willing to pay higher prices to secure PrNd metal and oxide supplies. In this context, Baotou’s new high-purity capacity could ease domestic tightness while reinforcing China’s pricing influence worldwide.

The Metalnomist Commentary

Luneng’s new PrNd metal project underlines how China continues to invest aggressively along the rare earth magnet value chain. Additional high-purity capacity in Baotou will support local magnet makers but may deepen import dependence for overseas OEMs. Global EV and wind players will closely watch whether new non-Chinese PrNd projects can meaningfully diversify supply before this plant comes online.

Sakura Ferroalloys FeMn expansion accelerates sinter plant and converter investment in Malaysia

Sakura Ferroalloys

The Sakura Ferroalloys FeMn expansion marks a major upgrade of its Sarawak ferro-manganese operations. The company has opened a new sinter plant and started building a converter for refined FeMn products. As a result, the Sakura Ferroalloys FeMn expansion will improve raw material efficiency and diversify carbon grades for global steel customers.

The Sakura Ferroalloys FeMn expansion also reflects a strategic shift in ownership and technology. Assore now holds 54.36pc of Sakura Ferroalloys after acquiring Assmang’s stake in June. Meanwhile, ore from Assmang continues to feed the plant, while Sumitomo and JFE help secure international sales channels. Therefore, the Sakura Ferroalloys FeMn expansion combines South African ore, Japanese trading muscle and Asian steel demand.

New sinter plant boosts furnace stability and ore utilisation

The new sinter plant is central to Sakura’s plan to lift efficiency and stability. The 141mn ringgit facility, completed after 22 months, prepares more consistent feed for smelting. This consistency should improve furnace performance, energy efficiency and metallurgical recovery rates.

By sintering ore fines and optimising feed size, Sakura can use a broader range of manganese raw materials. This flexibility matters as ore quality varies across mines and market cycles. As a result, the sinter plant supports more stable high-carbon FeMn output from Sakura’s existing 250,000 t/yr capacity.

The project also underpins environmental and cost performance. Better furnace stability usually reduces specific energy consumption and slag generation. Therefore, the sinter plant strengthens Sakura’s competitiveness against other Asian and global FeMn suppliers. It helps secure long-term contracts with steel mills that demand reliable quality and delivery.

Project Salamander moves Sakura into refined ferro-manganese

Project Salamander is the second pillar of the Sakura Ferroalloys FeMn expansion. The 346.5mn ringgit converter project will produce medium-carbon and low-carbon ferro-manganese. These refined grades are essential for high-quality steel, including automotive, structural and special steels.

Construction is planned over 21 months, with hot commissioning targeted for April 2027. Full production ramp-up is expected by mid-2027, adding 70,000 t/yr of refined FeMn capacity. Meanwhile, high-carbon FeMn output will continue to serve bulk steel applications worldwide. This product diversification reflects evolving customer demand for tighter alloy specifications and cleaner steels.

JFE Mineral & Alloy’s acquisition of a 7.5pc stake in Sakura in July was a key enabler. The deal gives Sakura access to JFE’s refining technology and process expertise. Therefore, the Sakura Ferroalloys FeMn expansion is not only about hardware, but also about advanced know-how transfer. Over time, this should lift product quality, yield and margins across Sakura’s FeMn portfolio.

The Metalnomist Commentary

Sakura’s combined sinter and converter investments show how ferro-alloy producers move up the value chain under margin pressure. By pairing ore-flexible sintering with refined FeMn capability and Japanese technology, Sakura positions Sarawak as a regional ferro-manganese hub. Market participants should watch contract terms and utilisation after 2027, as these will signal how quickly higher-value FeMn displaces basic grades in Asian steelmaking.

Radius Recycling appoints new chief executive amid Toyota Tsusho integration

Radius Recycling

Radius Recycling appoints new chief executive to steer the post-acquisition integration and growth agenda. The move formalizes a leadership transition as Toyota Tsusho assumes ownership. Consequently, Radius Recycling appoints new chief executive to align global scrap flows, mill operations, and exports. In this context, Radius Recycling appoints new chief executive to pursue operational gains across North America.

Leadership transition and near-term priorities

Marc Hathhorn became chief executive on 1 September after 10 months as COO. He joined the company from Peabody Energy in November 2024. Therefore, he brings large-scale industrial and logistics experience to metals recycling. His mandate emphasizes integration, network efficiency, and disciplined capital deployment. Meanwhile, Toyota Tsusho’s platform can expand commercial reach and supply optionality.

Lundgren’s legacy and the strategic backdrop

Outgoing CEO Tamara Lundgren became executive chairman through 30 November. She supports stakeholder continuity during the ownership transition. Under her tenure, the firm rebranded from Schnitzer Steel in 2023. The company now operates seven US bulk export facilities and an Oregon steel mill. It also runs a broad network of ferrous and nonferrous scrap yards. The Toyota Tsusho deal closed on 10 July for $1.34bn. Filings show Lundgren sold $38.4mn of stock as part of the transaction.

The Metalnomist Commentary

Leadership continuity is critical when integrating into a global trading house. If Hathhorn executes on logistics and procurement synergies, margins could improve despite volatile shred spreads and export freight.

LGES–KIM LONG NCM battery MoU signals Vietnam’s EV supply-chain push

KIM LONG

South Korea’s LG Energy Solution and Vietnam’s Kim Long Motor signed the LGES–Kim Long NCM battery MoU. The LGES–Kim Long NCM battery MoU covers supply of NCM cylindrical cells for local pack assembly. The LGES–Kim Long NCM battery MoU positions Hue as a new battery hub.

Kim Long will start its Hue battery complex in early 2026. The initial capacity is 1GWh per year. The company plans staged expansions to meet regional demand.

Vietnam’s policy tailwinds strengthen this pact. The government targets 100% urban buses as electric by 2030. It plans to end fossil-fuel vehicle production and imports by 2040.

Early capacity, regional demand, and bus orders

The Hue project launches with 1GWh annual output. Local pack assembly reduces logistics costs and lead times. It also builds workforce skills and supplier depth.

Downstream demand already forms. Thailand’s Cho Thavee plans to purchase 3,000 buses per year. That pipeline can anchor initial volumes and scale.

NCM cylindrical cells fit fleet needs. They offer energy density for range and duty cycles. They also align with established pack formats and service models.

Policy roadmap and localization advantages

Vietnam’s green transport roadmap sets clear EV milestones. Urban vehicles move to 50% electric by 2030. Urban buses and taxis target 100% by 2030. Localization reduces currency and tariff risks. It encourages vendor clustering in electrodes and foils. It also enables faster homologation for ASEAN fleets.

As a result, Vietnam can expand upstream inputs over time. Anode, cathode, and separator suppliers may co-locate. Recycling capacity can follow to close loops.

The Metalnomist Commentary

The MoU gives Vietnam a credible battery beachhead. Early 1GWh capacity, bus demand, and policy goals align. Watch cell format choices, raw-material sourcing, and recycling plans for margin security.

Defense & Security 2025 turns Bangkok into Asia’s defense crossroads

Defense & Security 2025

Defense & Security 2025 opens in Bangkok with record scale and deep strategic signaling. Defense & Security 2025 hosts 580 companies, 28 national pavilions, and 26,000 visitors. Defense & Security 2025 runs 10–13 November at IMPACT under Thailand’s defense ministry.

China’s strategic push shapes the exhibition’s competitive landscape. Thailand has fielded Chinese VT-4 tanks, VN-1 IFVs, drones, and QBZ-195T rifles. Thailand has in recent years purchased more Chinese arms by value than US systems. Therefore, the halls highlight Chinese offerings across air, land, and maritime domains. Meanwhile, invited delegations exceed 350 senior officials from 35 countries.

Scale and content reinforce the show’s Asia-Pacific weight. Exhibits span missiles, tanks, UAVs, ships, satellites, and secure comms. Exhibitors also show electronic warfare, cyber, and counter-terror systems. As a result, the event functions as a tri-service marketplace with policy dialogue. Twenty seminars and conferences convene industry and government experts.

Defense & Security 2025, China Sector

China’s export expansion meets Thailand’s modernization

China’s export pattern concentrates on Asia and Oceania buyers. Asia-Oceania take 77% of Chinese arms exports, with Africa at 14%. Pakistan accounts for 63% of Chinese exports, followed by Bangladesh and Thailand. Consequently, regional procurement pipelines increasingly feature Chinese platforms and components.

Thailand’s modernization plan advances across multiple suppliers. The cabinet approved a phased purchase of 12 Gripen E/F jets over a decade. The estimated cost is 60 billion baht for the Gripen program. Thailand’s 2024 defense budget totals 198.3 billion baht, up 2% year on year. Therefore, procurement mixes US Strykers, Chinese VN-1s, and Israeli UAVs.

ASEAN’s rearmament cycle accelerates in parallel. Indonesia’s defense budget reached $13.2 billion in 2023. Singapore’s spending reached $13.4 billion in 2023 after a 10% rise. Singapore is acquiring eight F-35B fighters to expand airpower. Vietnam is upgrading naval capabilities to protect maritime claims.

Defense & Security 2025

Global spending pledges and exporter dynamics reframe supply chains

NATO members set a higher ambition at the June 2025 summit. Members committed to invest 5% of GDP in defense. This marks a major uplift from the earlier 2% benchmark. As a result, delivery slots, components, and workforce will tighten globally.

Exporter shares define competitive pressures through 2020–24. The United States held 43% of global arms exports. France and Russia followed in second and third positions. China accounted for 5.9% and ranked fourth. Therefore, Chinese vendors face strong US and European competition in premium segments.

Defense & Security 2025 serves more than a sales floor. Organizers prioritize invited government buyers and curated agendas. Discussions focus on autonomy, AI ISR, resilient logistics, and cyber. Exhibitors pitch lifecycle packages with training and local sustainment. Co-production, MRO, and data rights feature in many deal rooms.

The Metalnomist Commentary 

Bangkok’s show captures a decisive shift toward diversified sourcing and localization. Expect tougher offset terms, co-development, and data-centric sustainment as ASEAN hedges suppliers. Financing creativity will separate winners from followers in the next procurement wave.

Korea Zinc germanium supply to Lockheed Martin signals new non-China source

Korea Zinc

Korea Zinc germanium supply to Lockheed Martin marks a strategic breakthrough. The Korea Zinc germanium supply will prioritize Lockheed Martin under a new MoU. As a result, Korea Zinc germanium supply strengthens allied access to a China-constrained material.

Korea Zinc will invest ₩140bn to add germanium at Onsan. The Ulsan plant will produce high-purity germanium dioxide equal to 10 t/yr. That output equals roughly 7–8pc of present global germanium production. The firm targets trial operations in 2027 and full output in early 2028.

China controls 68pc of global germanium production today. Beijing’s 2023 export controls tightened supply and spiked prices. Therefore, US and allied buyers are racing to secure diversified germanium sources.

Lockheed’s priority rights reshape critical minerals procurement

Lockheed will gain priority rights under the MoU framework. The parties will now negotiate a long-term offtake agreement. Priority access helps de-risk defense programs using infrared optics and semiconductors. It also aligns with US policies to localize sensitive supply chains.

Korea Zinc already ships other critical minerals to the US. The firm delivered 20t of antimony to the US in June. Its portfolio also includes iridium and bismuth for high-tech uses.

What 10 t/yr means for defense and photonics demand

Ten tonnes per year can meaningfully support advanced optics. Germanium enables thermal imaging, night vision, and satellite sensors. It also serves fiber-optic and semiconductor applications in data and 5G.

However, end-use demand remains concentrated and quality-sensitive. High-purity germanium dioxide must meet tight infrared specifications. As a result, early 2027 trials will be critical to qualify volumes. Successful qualification would anchor multi-year defense procurement planning.

The Metalnomist Commentary

This deal is small in tonnage but large in signal value. If Onsan meets purity and schedule, expect copycat agreements across allied OEMs. Watch pricing, permit milestones, and wafer-grade yields as leading indicators.

SK On LFP supply to North America advances with L&F partnership

SK On

SK On LFP supply to North America advances through a new pact with L&F. The agreement targets LFP cathode materials for the North American ESS market. SK On LFP supply to North America aligns with its localization strategy and plant build-out. The partners will finalize volume and tenor for a medium- to long-term deal.

Partnership scope, localization, and capacity

The alliance prioritizes localized LFP cathode supply for grid and data-center storage. SK On plans to repurpose lines to develop LFP battery production. It already operates two U.S. plants and is building four more. Total capacity is expected to exceed 180 GWh once fully online.

Market impact and midstream implications

Demand for LFP cells in North America is accelerating with AI data centers. Energy storage growth also supports faster LFP adoption and procurement. However, midstream capacity in the U.S. remains underdeveloped. It is unclear if cathode production will be domestic or imported.

The partnership strengthens resilience across a maturing U.S. battery chain. As a result, buyers gain another Tier-1 LFP source for ESS deployments. SK On LFP supply to North America should improve lead times and cost control. Meanwhile, policy incentives could favor deeper localization over imports.

The Metalnomist Commentary

This move tightens ESS supply optionality ahead of large data-center builds. The deciding factor will be U.S. cathode siting and qualification speed. Watch IRA eligibility, precursor sourcing, and long-term offtake structures.

Singapore opens GaN semiconductor facility to strengthen global supply

GaN Chip

Singapore has launched the National Semiconductor Translation and Innovation Centre for Gallium Nitride (NSTIC GaN), marking a major step in the nation’s advanced chip manufacturing ambitions. The new GaN semiconductor facility will begin commercial operations in mid-2026 and position Singapore among a handful of global hubs capable of producing GaN on SiC wafers. This Singapore GaN semiconductor facility is expected to support both domestic and international demand for high-efficiency power electronics and communication devices.

Singapore GaN semiconductor facility boosts manufacturing capacity

NSTIC (GaN) will feature production lines for 6- and 8-inch GaN on SiC wafers, offering flexibility for diverse applications. According to Minister Tan See Leng, the facility aims to support companies from start-ups to multinationals with production-grade capabilities. GaN semiconductors can operate at higher voltages, switch faster, and reduce heat, making them vital for telecoms, EV chargers, and aerospace systems. Demand for GaN chips is rising sharply, with the global RF GaN market projected to more than double to $2.7bn by 2028.

Global collaboration and market impact

The Singapore GaN semiconductor facility is a collaboration between A*Star, DSO National Laboratories, and Nanyang Technological University, backed by $123mn in funding. Partnerships include WaferLead, a SiC substrate start-up, which will leverage NSTIC GaN to enhance wafer quality and expand its global market presence. Once fully operational, the facility will offer foundry services to overcome capital barriers and accelerate new product launches. This initiative complements Singapore’s broader semiconductor push, including NSTIC (Photonics) and a $500mn advanced packaging facility announced earlier this year.

The Metalnomist Commentary

The Singapore GaN semiconductor facility reflects the strategic shift toward localized, resilient semiconductor ecosystems. By investing in GaN technology, Singapore not only reduces reliance on foreign supply chains but also positions itself as a critical hub in the global race for next-generation power electronics. The move underscores the increasing geopolitical and industrial weight of semiconductors in clean energy, EVs, and defense applications.

EVE Energy Malaysia energy storage battery plant advances with 10–15 GWh expansion

EVE Energy

EVE Energy Malaysia energy storage battery plant enters Phase 2 with 10–15 GWh capacity. EVE will invest 8.654bn yuan to build the expansion in Malaysia. Construction will take 2.5 years, targeting completion within 30 months. The project strengthens domestic ESS supply for Southeast Asia and global customers. EVE Energy Malaysia energy storage battery plant also secures LFP feedstock from Jiangsu Lopal.

A Southeast Asia ESS hub takes shape

Phase 1 already produces cylindrical cells for power tools and two-wheelers. The February start-up created EVE’s first overseas battery manufacturing footprint. Its 680mn units per year capacity underpins future ESS scale-up. Meanwhile, Phase 2 focuses on grid-scale LFP batteries for storage. Together, both phases support module makers and utility developers.

Supply chain and technology implications

The LFP platform offers stable chemistry, safety, and competitive cost. Therefore, it suits energy storage systems with long-cycle requirements. Secured cathode supply reduces volatility and enhances bankability for offtake. As a result, EVE can serve ASEAN data centers and utilities. EVE Energy Malaysia energy storage battery plant aligns with regional industrial policy goals.

The Metalnomist Commentary

EVE’s Malaysia move deepens LFP-based ESS capacity outside China and diversifies supply. Execution on timelines, feedstock logistics, and local talent will determine competitiveness against rival gigafactories.

LG Energy Solution Signs Six-Year Battery Supply Deal with Chery

China Chery

LGES to Deliver 8GWh of Cylindrical Batteries

LG Energy Solution (LGES) has signed a six-year deal with China’s Chery Automobile to supply 8GWh of batteries. Deliveries are scheduled to begin in early 2026, powering around 120,000 electric vehicles. The agreement focuses on LGES’ 46-series nickel-cobalt-manganese cylindrical batteries, which will be installed in Chery’s flagship EV models.

The partnership also leaves room for expansion. LGES indicated that further projects could extend to additional Chery models, reinforcing the growing collaboration between one of South Korea’s top battery producers and China’s state-owned automaker.

Strategic Partnerships in a Competitive Battery Market

The LGES-Chery deal highlights the company’s efforts to secure long-term partnerships amid shifting battery demand. In November 2024, LGES struck a five-year, 67GWh agreement with US EV start-up Rivian, with production centered in Arizona. These contracts demonstrate LGES’ dual strategy of supporting premium EV manufacturers while also pursuing cost-competitive alternatives.

However, the rise of lithium-iron-phosphate (LFP) batteries has reshaped the competitive landscape. LGES announced it will start mass production of LFP batteries for EVs in the second half of 2025. In parallel, it began mass-producing LFP batteries for energy storage systems (ESS) in the US this June, while partially converting its Wroclaw plant in Europe for ESS applications.

The Metalnomist Commentary

LGES’ deal with Chery underscores the importance of strategic alliances in an increasingly competitive EV battery market. By balancing high-performance nickel-based batteries with cost-efficient LFP solutions, LGES is positioning itself to meet diverse global demand. The company’s ability to maintain utilization rates will hinge on how effectively it scales production and navigates price pressures.

Ronbay Begins High-Nickel NCM Precursor Shipments from South Korea

Ronbay

Strategic Expansion into Global Supply Chains

Chinese battery material giant Ningbo Ronbay has started shipping ultra-high nickel NCM precursors from its Chungju, South Korea plant. The product contains a minimum of 90pc nickel and targets global battery makers. Current NCM precursor capacity totals 66,000 t/yr — 60,000 t/yr in China and 6,000 t/yr in South Korea.

South Korea’s extensive free trade agreements offer Ronbay significant advantages in bypassing rising trade barriers. The company expects these shipments to strengthen ties with clients in Japan, South Korea, Europe, the US, and Southeast Asia, especially amid the US Inflation Reduction Act and EU Critical Material Act.

Capacity Growth and Recycling Initiatives

Ronbay plans to expand South Korean NCM capacity to 26,000 t/yr and build a 20,000 t/yr plant in Indonesia by 2026. Competitors CNGR, Huayou Cobalt, and GEM are also investing in precursor facilities overseas to mitigate trade restrictions.

The company will launch a global battery recycling system in 2027, with plants in the US, Europe, Japan, and Southeast Asia. This network will process black powder from waste batteries into high-purity precursor materials, though capacity figures remain undisclosed.

Ronbay produced 137,351 t of CAM in 2024, up 34pc year-on-year. NCM accounted for around 120,000 t of sales, while LMFP was added to its portfolio in 2022 through the acquisition of Tianjin Skylandone. The firm targets 130,000–150,000 t of CAM production in 2025, and is building a 20,000 t/yr NCM plant in Poland, with the first phase due this year.

The Metalnomist Commentary

Ronbay’s move to produce high-nickel NCM precursors in South Korea is a calculated response to geopolitical trade pressures. By leveraging South Korea’s trade agreements and diversifying production locations, the firm is securing market access in key EV regions. This multi-pronged strategy — combining capacity expansion with recycling — positions Ronbay strongly in the global energy transition supply chain.

Tajikistan Seeks Western Mining Partners to Unlock Critical Mineral Reserves

Tajikistan

The Central Asian nation aims to attract global investors for copper, lithium, and rare earth exploration.

Emerging Frontier for Critical Minerals

Tajikistan seeks western mining partners to unlock critical mineral reserves, including antimony, copper, and lithium. The country ranks third globally in antimony reserves and is expanding its interest to rare earths, cobalt, and bismuth. While Chinese firms have established a strong presence, Tajikistan now actively courts western junior miners and strategic partners. Vast Resources, a UK-based firm, is among the first European mining companies to sign agreements with the Tajik government. Officials emphasize low production costs, tax incentives, and abundant clean energy from hydropower as key advantages.

Geological and ESG Challenges Remain

However, Tajikistan faces major hurdles in developing its mining sector despite its mineral potential. Thousands of mineral occurrences remain unexplored, and much of the country’s geological mapping is outdated. Terrain obstacles and limited accessibility also complicate operations. Infrastructure upgrades are underway, supported by over $1bn in funding from the European Bank for Reconstruction and Development. Yet transparency remains an issue, with Tajikistan ranked 164 out of 180 in the 2024 International Transparency Index. The U.S. has expressed interest in assisting, emphasizing the need for a transparent and stable investment environment.

The Metalnomist Commentary

Tajikistan's call for western mining partnerships comes at a time of intense competition for secure, diversified critical mineral supply chains. If infrastructure and ESG reforms advance, the country could emerge as a strategic node in the global non-ferrous metals landscape.

Sinomag Magnet Output Capacity Expands in Vietnam and Thailand

Sinomag

Vietnamese Ferrite Plant Boosts Sinomag’s Global Footprint

Chinese magnet producer Sinomag has increased its magnet output capacity at its Vietnam facility, expanding wet pressure magnetic tile production from 8,000 t/yr to 10,000 t/yr. This move is part of Sinomag’s broader strategy to scale global production outside China. The company targets 50,000 t/yr by year-end and 60,000 t/yr in the next few years, reinforcing its leadership in ferrite magnet manufacturing.

Thai Soft Magnet Facility Set for 2024 Launch

Meanwhile, Sinomag is preparing to launch its Thailand plant for soft magnetic materials by the end of the year. With an initial 8,000 t/yr capacity, this marks China’s first overseas soft magnet production facility. The company aims to grow this to 20,000 t/yr over the coming years. Sinomag’s soft magnets are primarily used in automobiles, household appliances, and new energy vehicles — especially in power modules and EV charging stations.

Strong Demand Meets Global Headwinds

Sinomag magnet output capacity increases come despite a 7.5% drop in first-quarter profits, driven by global photovoltaic slowdowns and stiff market competition. Nevertheless, first-quarter revenues rose 1.2% year-on-year to 256.5mn yuan ($35.49mn). The impact of Trump-era 145% tariffs on Chinese magnet imports remains minimal, as U.S.-bound shipments account for less than 3% of Sinomag’s exports.

The Metalnomist Commentary

Sinomag’s capacity expansion reflects a strategic pivot toward international production to mitigate geopolitical risk. Vietnam and Thailand now play key roles in diversifying China's critical materials value chain, particularly in magnets essential to clean tech and automotive sectors.

Titanium Grade 7 Ingot Production Achieved by DongA Special Metal Using Recycled Scrap

DongA Special Metal's Titanium Grade 7 Ingot

Korea’s first Ti Gr.7 ingot production from scrap marks breakthrough in domestic titanium alloy manufacturing

PAM and ISM technologies enable supply chain innovation for chemical and nuclear-grade titanium products

South Korea’s DongA Special Metal has successfully achieved titanium Grade 7 ingot production using palladium-added scrap, marking a first in the nation’s metallurgical history. The company announced that the Titanium Grade 7 ingot production was completed using plasma arc melting (PAM) technology and sold entirely to a U.S.-based metal processing company.

Advanced melting meets global demand for high-purity corrosion-resistant alloys

Titanium Grade 7 is a high-value alloy used in harsh chemical environments, thanks to its outstanding corrosion resistance. However, its production from recycled scrap is notoriously difficult, due to the high melting point and the need for precise composition control. To overcome this, DongA adopted PAM technology and integrated it with ISM (Induction Skull Melting) equipment—enabling simultaneous refining, remelting, and continuous casting.

This approach contrasts with the global standard, where 75% of titanium ingots are still made using vacuum arc remelting (VAR). DongA’s use of PAM-ISM fusion technology positions it ahead in recycling-based alloy innovation, especially for critical industries.

Domestic production reduces import dependence for chemical, nuclear, and desalination sectors

The company’s 1-ton titanium ingot facility, the largest in Korea, now supports local sourcing for semiconductor, display, and chemical process equipment manufacturers. Titanium Grade 7 is essential for chlorine process systems, wet chlorine coolers, ion exchange membrane equipment, nuclear condenser tubing, and desalination heat exchangers.

This milestone also opens the door for strategic collaboration with Korean industrial players and public R&D institutions. The successful export to the U.S. underscores DongA’s technical competitiveness in alloy design and electrochemical understanding of the palladium-titanium system.

The Metalnomist Commentary

DongA Special Metal’s innovation in Titanium Grade 7 ingot production signals Korea’s move up the titanium value chain. By mastering scrap-based high-purity alloy production, the firm reduces import dependency and strengthens national capabilities in strategic sectors like nuclear energy, semiconductors, and chemical equipment.

Asia Semiconductor Demand for AI Data Centres Surges on Regional Infrastructure Expansion

AI

Asia semiconductor demand for AI data centres is accelerating rapidly, driven by generative AI development, regional cloud infrastructure investment, and rising demand for high-bandwidth memory and logic chips. The shift marks a geographic rebalancing in semiconductor orders, which were previously centered on U.S. data centre growth.

AI, HBM, and Logic Chips Drive Semiconductor Orders in Asia

Dutch semiconductor equipment maker BESI reported increased orders from Asian subcontractors in Q1 2025, specifically for AI-related data centre applications. Orders rose 3.3% year-over-year and 8.2% quarter-over-quarter, even as other segments like mobile and automotive remained weak.

AI-centric devices are boosting demand for advanced semiconductor packaging, especially for high-bandwidth memory (HBM) 4 and logic chips. BESI received hybrid bonding orders from two memory producers and additional logic chip orders from an Asian foundry, underscoring regional momentum. Compound semiconductors and minor metals remain essential to meet AI’s performance, efficiency, and optical communication needs.

Chinese data centres, in particular, are preparing for broader adoption of optical technologies and laser detectors as they scale capacity to support domestic AI models like DeepSeek.

China, Singapore, and Malaysia Lead AI Data Centre Build-Out

China is rapidly scaling its AI data centre footprint. GLP, a Singapore-China investment firm, raised ¥2.6bn ($356.7mn) for a Beijing-area data centre and controls 20 data centres with a total capacity of 1.4GW across major regions. This expansion is backed by Chinese policy support for AI, cloud, IoT, and 5G development, with the country’s data centre market forecast to grow at a 38% CAGR through 2029.

Singapore remains southeast Asia’s largest data hub, hosting 1.4GW of capacity with expansion plans. However, regulatory restrictions on power and land usage are slowing growth. Meanwhile, Johor, Malaysia, is emerging as a new hotspot, with projected capacity of 1.6GW—poised to surpass Singapore.

Chinese firms have invested over $10bn in Malaysian data centres since 2019. Companies like ByteDance and Alibaba Cloud are leveraging Malaysia’s semiconductor-friendly environment to bypass U.S. export controls and support international operations.

The Metalnomist Commentary

The boom in Asia semiconductor demand for AI data centres signals a decisive shift in global digital infrastructure. As U.S. restrictions reshape supply chains, Asia is emerging as the new battleground for AI-optimized semiconductor and data centre development—anchored by domestic innovation and strategic capital deployment.

Vinfast 2024 EV Delivery Target Achieved Amid Widening Losses and Global Expansion Plans

Vinfast Auto

Vietnamese EV manufacturer Vinfast has surpassed its 2024 EV delivery target, reaching 97,399 units—well above its 80,000-unit goal. While the Vinfast 2024 EV delivery target was exceeded, the company reported a significant net loss of $3.2 billion, underscoring the financial strain of rapid global expansion.

Delivery Growth Triples, But Losses Mount

Vinfast tripled its EV deliveries compared to 2023 and more than doubled deliveries in Q4 2024 alone, reaching 53,139 units for the quarter. Despite this growth, the firm’s net loss widened by 28% year-over-year, driven by elevated gross and operating costs. Total revenue increased 58% to $1.8 billion, reflecting strong EV demand but also aggressive investments in scaling production and international presence.

Chairwoman Le Thi Thu Thuy confirmed that Vinfast’s 2025 goal is to at least double global deliveries. The strategy remains flexible in response to macroeconomic shifts, including inflation, tariffs, and market competition.

2025 Product Launches and Market Focus

Vinfast plans to launch four new EV models in 2025: the Herio Green and Nerio Green SUVs in Q2, and the Minio Green minicar and Limo Green MPV in Q3. The company expects 25–30% of total 2025 deliveries to occur in the first half of the year, with peak volumes anticipated in Q4.

Asia will be a key growth region, with Indonesia, the Philippines, and India forecast to contribute significantly to sales. While U.S. tariffs have impacted shipment planning, Vinfast’s exposure to the U.S. remains low—just 4% of total deliveries in 2024. The firm still plans to complete its $2 billion North Carolina factory by 2028, despite a two-year delay from the original 2025 timeline.

The Metalnomist Commentary

Vinfast’s ability to exceed its 2024 EV delivery target highlights its strong execution in high-growth markets. However, rising losses and shifting regulatory landscapes will test its ability to scale sustainably. The next 12 months will be critical as Vinfast balances rapid growth with operational discipline.