SiGe Capacity Expansion Accelerates as AI Data Centres Shift to Optical Networking

GlobalFoundries

SiGe capacity is becoming a critical bottleneck as artificial intelligence data centres move from copper interconnects toward optical networking. GlobalFoundries is expanding silicon germanium capacity to meet rising demand from customers building high-speed optical connectivity systems.

SiGe capacity at GlobalFoundries’ Vermont fabrication plant is already oversubscribed into 2027. The company said demand has reached an inflection point as AI workloads drive higher bandwidth, power efficiency and data transmission requirements.

SiGe capacity matters because silicon germanium technology supports key components in optical transceivers. These devices allow data centres to move information faster, cleaner and with less energy loss across large computing clusters.

The expansion reflects a wider shift in semiconductor materials. AI infrastructure is no longer only a story about graphics processors and advanced logic chips. It increasingly depends on photonics, optical transceivers and specialty semiconductor materials such as germanium.

Optical Networking Pushes SiGe Into a Strategic Role

AI data centres are increasing compute density and power consumption, forcing operators to rethink how data moves across networks. Copper interconnects face limits in reach, bandwidth density and energy efficiency.

Optical networking addresses those limits. It enables higher-speed data transfer across longer distances while improving system efficiency.

This shift is lifting demand for silicon photonics and SiGe technology. These materials are used in pluggable optical transceivers that convert high-speed electrical signals into optical signals and back again.

GlobalFoundries said SiGe is used in limiting amplifiers, transimpedance amplifiers and laser drivers. These components support signal amplification, conversion and cleaner data transmission inside data centre networks.

Transimpedance amplifiers and drivers are required in most data centre connections. As optical networking deployments grow, unit demand for these components is expected to increase sharply.

Satellite communications are also increasing SiGe usage. However, AI data centre optical networking is now the main growth signal attracting market attention.

Customer Prepayments and Government Support Shape Expansion

GlobalFoundries expects to double silicon photonics revenue in 2026. The company is targeting a silicon photonics revenue run rate above $1bn by the end of 2028 and $2bn in 2030.

GF already operates 300mm and 200mm silicon photonics and SiGe manufacturing facilities in New York and Singapore, with additional capacity in Germany. It also has a major US footprint in Vermont and New York.

The company increased annual wafer capacity to 2.7mn 300mm wafer equivalents in 2025 from 2.2mn in 2020. It also has an installed base of 1.6mn 200mm wafers per year.

GlobalFoundries has previously announced plans to invest more than $12bn in its New York and Vermont sites over the next decade. But future capacity growth will be tied closely to customer demand, prepayments and government financing.

That model is important. Semiconductor capacity expansion is capital-intensive, and customers increasingly need to help secure the supply chains they depend on.

Government grants and tax incentives are also becoming essential. AI, photonics, semiconductors and critical materials are now treated as strategic infrastructure, not only commercial technology.

For materials markets, the signal is clear. Germanium demand could gain support from AI-driven optical networking, especially as silicon photonics and SiGe devices become more important to data centre performance.

The Metalnomist Commentary

GlobalFoundries’ SiGe expansion shows that AI supply chains are moving deeper into specialty semiconductor materials. The next bottleneck may not be compute chips alone, but the optical and germanium-linked technologies needed to connect them efficiently.

 

Titan Mining Secures EXIM Loan for New York Zinc Expansion

Titan Mining

EXIM Financing to Support Zinc Growth

Titan Mining has secured $15.8mn in financing from the Export-Import Bank of the US (EXIM) to expand its zinc operations in New York. The funds will be used by its subsidiary, Empire State Mines, to upgrade equipment and infrastructure. The loan has a seven-year tenor with a two-year interest-only grace period, offering the company time to ramp up production.

Zinc Production and Resource Outlook

Titan expects to produce 64mn–69mn lbs of payable zinc in 2025. The mine’s measured and indicated resources total 636mn lbs of recoverable zinc and 541mn lbs of payable zinc, supporting long-term output. In January, Titan announced plans to extend the mine’s life to 2033. Additionally, the company aims to expand into graphite development alongside its zinc operations, reflecting a broader strategy in critical minerals.

The Metalnomist Commentary

Titan Mining’s EXIM loan demonstrates how US financial institutions are reinforcing domestic critical mineral projects. While zinc demand is rising, the company’s parallel push into graphite shows a strategic pivot toward battery minerals. This dual focus positions Titan to benefit from both traditional and energy transition markets.

Norsk Titanium Northrop Grumman Contract Moves Additive Parts Into Recurring Production

Norsk Titanium

Norsk Titanium Northrop Grumman contract marks a significant step for titanium additive manufacturing in aerospace and defence supply chains. The Norwegian additive manufacturer has secured a recurring production contract to supply structural aircraft components to Northrop Grumman.

Norsk Titanium Northrop Grumman contract is the company’s first production award after a multi-year qualification process. That makes the agreement important beyond the undisclosed part or aircraft programme.

Norsk Titanium Northrop Grumman contract signals that qualified additive manufacturing is moving from technical validation into repeat production for high-value aerospace structures. In defence aerospace, qualification is often the real barrier, not only production capability.

The contract could also open the door to additional programmes and parts. Norsk Titanium said the award marks the start of a broader expansion across further applications.

Qualification Opens the Door to Defence Aerospace Production

Northrop Grumman is one of the most important US aerospace and defence contractors. It manufactures the B-2 and B-21 bomber aircraft and supplies key structures for other programmes, including the F-35 centre fuselage and F/A-18 E/F.

This makes the production award strategically meaningful. Structural aircraft components must meet strict requirements for strength, fatigue performance, dimensional control, traceability and repeatability.

A multi-year qualification process shows how demanding this market remains. Aerospace customers do not adopt new production routes quickly, especially for structural parts tied to defence platforms.

For Norsk Titanium, the award validates its position as a qualified supplier to a major defence customer. It also gives the company a recurring production base rather than a one-off demonstration project.

For the wider market, the deal reinforces the growing role of additive manufacturing in aerospace. The technology is gaining relevance where it can reduce material waste, shorten supply chains and support complex titanium component production.

Titanium Additive Manufacturing Supports Supply Chain Resilience

Titanium remains a critical aerospace material because of its strength-to-weight ratio, corrosion resistance and performance in demanding aircraft structures. But titanium parts can be expensive and time-consuming to produce through conventional routes.

Additive manufacturing can improve material efficiency and reduce reliance on complex forging or machining supply chains for selected components. That matters as aerospace and defence manufacturers seek more resilient sources of qualified parts.

Norsk Titanium has 700 t/yr of installed capacity at its main production facility in New York. It also operates a technology and production centre in Norway.

The New York capacity gives the company a US manufacturing base close to defence customers and procurement systems. That is increasingly important as defence supply chains prioritise domestic or allied production.

The contract’s immediate volume is not disclosed, so its near-term revenue impact is unclear. But the strategic value lies in qualification, repeat production and future part expansion.

If Norsk Titanium can convert this first production award into additional Northrop Grumman programmes, it could strengthen the commercial case for additive titanium parts in defence aerospace.

The Metalnomist Commentary

This contract shows that titanium additive manufacturing is entering the harder phase: qualified recurring production for defence customers. The next advantage will go to suppliers that can combine aerospace approval, repeatability and scalable titanium capacity inside trusted supply chains.

Li-Cycle Weighs Acquisition Offer from Glencore

Glencore

Canadian battery recycler Li-Cycle is considering a takeover offer from Glencore amid financial distress and project delays.

Financial Pressure Mounts on Li-Cycle

Li-Cycle is reviewing a 14 March acquisition proposal from Glencore, a major mining and trading firm. Glencore already holds a strategic stake in Li-Cycle and may move to take full control.

The announcement came as Li-Cycle warned in its 2024 annual report that it may run out of cash within a year. The firm’s liquidity crisis has worsened due to delays in accessing funding and paused construction projects.

In 2023, the company halted its Rochester hub project, critical to its spoke-and-hub recycling model. The stoppage disqualifies it from drawing a $475 million loan from the U.S. Department of Energy.

Projects Paused, Shares Delisted, Outlook Uncertain

Trading of Li-Cycle shares was suspended by the New York Stock Exchange in early 2024.

The de-listing reflects growing concerns about its operational viability.

Li-Cycle’s 2024 net loss reached $137.7 million, with revenues rising modestly to $28 million. Cash reserves fell by nearly $50 million, leaving only $31.9 million in liquidity at year-end.

The company has also paused development at its New York and Norway spoke facilities, limiting its future throughput. Its spoke-and-hub model, once touted as the future of lithium-ion battery recycling, now hangs in the balance.

The Metalnomist Commentary

Glencore’s interest in acquiring Li-Cycle may offer a lifeline—if terms can be agreed quickly. However, the deal also reflects broader challenges in scaling battery recycling under current market economics. If successful, this acquisition could strengthen Glencore’s position in the critical battery materials supply chain.

RTX First-Quarter Sales Rise Despite GTF Engine Delivery Pressure

RTX

RTX first-quarter sales increased year on year despite lower commercial engine deliveries at Pratt & Whitney, showing the strength of aerospace aftermarket and defence demand. The US aerospace group reported sales of $22.1bn in January-March, up 9% from a year earlier.

RTX first-quarter sales were supported by stable commercial original equipment demand, strong aftermarket activity and higher defence demand. The company’s three major businesses — Collins Aerospace, Pratt & Whitney and Raytheon — all sit inside supply chains tied to aircraft production, engine maintenance and military systems.

RTX first-quarter sales also benefited from a record backlog of $271bn. This included $162bn in commercial contracts and $109bn in defence contracts, with Raytheon supported by higher bookings for Patriot guidance-enhanced missiles.

The result highlights a split inside the aerospace market. Aircraft and defence demand remain strong, but engine delivery constraints continue to slow the pace at which some commercial aircraft programmes can convert orderbooks into production.

Pratt & Whitney Engine Deliveries Remain a Key Airbus Constraint

Pratt & Whitney reported a 1% decline in commercial original equipment sales because of lower engine deliveries. The company produces the PW1100G geared turbofan engine for Airbus’ A320neo family, one of the world’s most important narrowbody aircraft programmes.

The shortfall matters because Airbus depends on engine supply to meet its build-rate targets. Pratt & Whitney has struggled to deliver enough engines, and Airbus has already had to adjust its production trajectory because of engine availability.

RTX said the challenge reflects the need to balance new aircraft demand with the health of the existing GTF fleet. The current engine variant has faced durability issues, creating pressure on both newbuild supply and aftermarket support.

The GTF fleet management plan remains central to Pratt & Whitney’s operating outlook. In 2023, RTX identified a rare condition in powder metal used to manufacture high-pressure turbine disks and high-pressure compressor disks. The issue requires accelerated inspections across the PW1100G-JM fleet.

This creates a complex supply-chain problem. Pratt & Whitney must supply engines for new aircraft while also managing inspections, repairs and parts availability for the installed fleet.

The result is an engine bottleneck that affects more than RTX. Airbus, airlines, leasing companies, MRO providers, forging suppliers, powder metal producers and high-temperature alloy producers all feel the impact.

Aftermarket Strength and MRO Investment Support Longer-Term Recovery

Aftermarket demand helped offset lower engine deliveries. RTX’s first-quarter performance shows that commercial aerospace earnings are increasingly supported by maintenance, repair and overhaul activity as global fleets remain active and engine shop visits rise.

Pratt & Whitney’s MRO output for the PW1100 increased by 23% from a year earlier. First-quarter shop visits were in line with the expected full-year run rate of about 800.

This aftermarket strength is strategically important. Engine problems can reduce new OE sales, but they also create higher demand for inspections, replacement parts, shop visits and repair capacity.

RTX is investing to expand that capacity. The company has made MRO investments in Singapore, plans to add a forging press at its Columbus, Georgia facility, and will install a new powder production tower at its HMI facility in New York.

These investments point directly to the materials side of aerospace. GTF recovery depends on reliable powder metallurgy, high-performance alloys, forged components, precision machining and certified repair capacity.

Defence demand adds another layer of support. Wars in the Middle East and Ukraine increased demand for defence systems, while Raytheon’s Patriot missile backlog strengthened RTX’s defence orderbook.

The industrial message is clear. RTX is benefiting from strong aerospace and defence markets, but the GTF engine issue shows that one material or component bottleneck can still constrain aircraft production.

The Metalnomist Commentary

RTX’s results show that aerospace demand remains strong, but production growth is still limited by engine and materials bottlenecks. Powder metallurgy, forging capacity and MRO infrastructure are now strategic parts of the aircraft supply chain, not just supporting processes.

Wolfspeed's Silicon Carbide Demand Surges with EV Transition to 800V Architecture

The global transition to 800V electric vehicle (EV) charging systems from the traditional 400V architecture is fueling a significant increase in demand for silicon carbide (SiC) power devices, according to US-based semiconductor manufacturer Wolfspeed. This trend has been a key driver behind Wolfspeed's strong quarterly revenue growth, despite a general downturn in the broader automotive semiconductor market.

Wolfspeed reported that its EV-related revenue more than doubled in the quarter ending June 30 compared to the previous year, and it is expected to increase by around 300% year-on-year in the upcoming quarter ending September 30. Electric vehicles accounted for approximately 50% of Wolfspeed's power device revenue in the most recent quarter, a substantial rise from 25% a year earlier. This percentage is projected to climb above 60% by the end of September.

Chief Financial Officer Neill Reynolds emphasized that while short-term EV adoption rates have been revised downward, the demand for SiC in EVs remains robust. The shift to 800V systems, which require higher power capabilities that SiC technology offers over conventional silicon devices, is a major factor driving this demand.

Industry experts predict that by 2027-30, over 90% of new EVs will utilize 800V systems. Reflecting this trend, approximately 70% of Wolfspeed's $2 billion in design-ins from the June quarter were linked to 800V applications. Many of the EV designs Wolfspeed has developed over the past 5-7 years are now moving into production, with around $500 million in new designs receiving approval for use during the last quarter. This backlog supports over 125 EV models across more than 30 original equipment manufacturers (OEMs) in the coming years.

While the automotive sector is leading the adoption of SiC technology, Wolfspeed’s President and CEO, Gregg Lowe, noted that high-voltage applications in energy markets, such as AI data centers, electric mobility, and solar inverters, are also expected to drive further demand in the coming years.

Wolfspeed is accelerating the transition of its power device production to 200mm semiconductors at its new Mohawk Valley facility in New York, where unit costs are lower compared to its 150mm device facility in Durham, North Carolina. The company expects to complete construction of its new JP Siler City materials factory by mid-2025, which will supply wafers to Mohawk Valley, aiming for 30% capacity utilization.

Although the Durham facility has been operating at reduced rates due to weaknesses in the industrial and energy markets, Wolfspeed is assessing the timing of the 150mm device fab's closure as production ramps up at Mohawk Valley. However, this shift does not alter the company’s long-term view that industrial and energy products will continue to be a substantial part of its portfolio, according to Reynolds.

SDI Flat-Rolled Aluminum Pushes Into Automotive Sheet Qualification

SDI

SDI flat-rolled aluminum production has moved into automotive qualification as Steel Dynamics ramps up its Aluminum Dynamics plant in Columbus, Mississippi. The company began producing finished aluminum sheet for automaker approvals in the first quarter after commissioning its first continuous anneal and solution heat treat line.

SDI flat-rolled aluminum qualification marks an important step in the company’s move beyond standard sheet products into higher-margin automotive body sheet. The Indiana-based steelmaker expects to receive approvals from several automakers in the coming weeks.

SDI flat-rolled aluminum growth also reflects a wider disruption in the North American aluminum sheet market. Supply-chain challenges, including the Novelis outage in Oswego, New York, opened new opportunities for SDI to accelerate customer approvals sooner than originally planned.

The company’s Columbus plant is becoming a strategic new source of US flat-rolled aluminum. If automotive qualifications proceed as expected, SDI could move more quickly into premium sheet markets that require tighter process control, alloy capability and customer validation.

Columbus Ramp-Up Moves From Hot Band to Automotive Sheet

SDI’s automotive push is centred on its new Aluminum Dynamics operation in Columbus. The company commissioned the first of two CASH lines during the first quarter, allowing it to begin formal qualification with automakers.

CASH lines are essential for producing heat-treated aluminum sheet used in automotive applications. They control the thermal processing needed to deliver strength, formability and consistency in body sheet products.

The move follows earlier approvals for aluminum hot-rolled coil, or hot band, in 2025. Automakers accelerated those approvals after supply disruptions at Novelis’ Oswego facility created pressure across the North American automotive aluminum chain.

That timing helped SDI enter customer programmes earlier than expected. Automakers need diversified sources of qualified aluminum sheet, especially when existing suppliers face outages or tight availability.

SDI has been producing aluminum sheet in 3003, 3104 and 5052 alloys. It has also been making hot band in 5754 and 5182 alloys for automotive applications.

The company said it is producing certain 6XXX alloys as well, although it did not identify the specific grades or end markets. The 6XXX series is especially important in automotive body sheet because it offers a strong balance of formability, strength and paint-bake response.

This alloy progression matters. Moving from general sheet and hot band into automotive body sheet requires higher metallurgical control, surface quality, flatness and customer qualification discipline.

SDI’s ability to qualify material with automakers will determine how quickly Columbus can move into higher-margin product lines. Automotive sheet is more technically demanding than many commodity aluminum products, but it can also provide stronger margins and more stable long-term customer relationships.

Higher Shipments and Capacity Utilisation Signal Faster Commercial Scale-Up

Flat-rolled aluminum shipments from Columbus rose by 54% from the previous quarter to 22,500t in January-March. Year-on-year comparisons are not available because commercial deliveries from the plant only began later in 2025.

SDI expects shipments to increase sharply in the second quarter to 60,000-70,000t. That would mark a major step-up in commercial output as the Columbus plant continues its ramp-up.

The company maintained its target of exiting 2026 with 90% capacity utilisation at Columbus. Two of the three planned cold-rolling mills are already operating, while the final cold mill is expected to be commissioned in the third quarter.

The second CASH line is also scheduled to start up in the third quarter. This will expand SDI’s ability to produce heat-treated products and support further growth in automotive sheet.

The ramp-up has not been without issues. SDI said operating costs were significantly higher in January because of a quality issue that caused a temporary production pause and required some inventory to be written off.

That setback highlights the difficulty of starting a new flat-rolled aluminum platform. Automotive-grade aluminum requires tight process stability, and early ramp-up periods often bring yield, quality and operating-cost challenges.

Still, the shipment forecast suggests SDI expects the Columbus operation to recover quickly. If output rises as planned, the company could become a more meaningful competitor in US aluminum sheet supply during 2026.

Total quarterly aluminum shipments more than doubled year on year to 227,393t. That figure includes volumes from SDI’s Superior Aluminum Alloys segment, which produces secondary alloys for die-casting, molten aluminum and deoxidizing agents.

Superior gives SDI additional aluminum market exposure beyond flat-rolled products. The combination of secondary alloys and flat-rolled sheet gives the company a broader position across automotive, industrial and manufacturing supply chains.

The strategic significance is clear. SDI is using Columbus to enter higher-value aluminum sheet while maintaining exposure to recycled and secondary aluminum through Superior.

For automakers, SDI’s ramp-up provides another domestic aluminum option at a time when supply security and supplier diversification are increasingly important. For the broader market, Columbus could intensify competition in North American automotive sheet as capacity utilisation rises.

The Metalnomist Commentary

SDI’s automotive qualification push shows how quickly supply disruption can reshape customer approval timelines. If Columbus reaches stable quality and high utilisation, Aluminum Dynamics could become a serious new force in US automotive aluminum sheet.

Soaring Renewables Growth Still Falls Short of COP28 Target, Varies Widely by Region

Renewable energy deployment is speeding up at an “unprecedented rate” but still falls short of what it will take to hit the tripling of global capacity that countries committed to at last year’s United Nations climate summit, the International Renewable Energy Agency warns in an assessment published earlier this month.

That’s in spite of renewable energy producers installing 473 gigawatts of new capacity last year, accounting for 85% of the new electricity entering the global system, Canary Media reports.

Renewable energy capacity grew 14% last year, contributing to a 10% compound annual growth rate between 2017 and 2023, IRENA says. But it’ll take annual growth of 16.4% to meet countries’ 2030 deadline to triple the amount of renewable energy available around the world by 2030.

“Renewable energy has been increasingly outperforming fossil fuels, but it is not the time to be complacent,” said IRENA Director-General Francesco La Camera. “Renewables must grow at higher speed and scale” unless countries want to “face failure in reaching the tripling renewables target,” thereby putting the climate goals in the 2015 Paris agreement at risk.

The commitment to triple global renewable energy capacity and double the rate of annual energy efficiency improvements by 2030 was one of the signature results of last year’s COP28 climate summit in Dubai. “But IRENA’s analysis found that even if renewables continue to be deployed at the current rate over the next seven years, the world will fall 13.5% short of the target to triple renewables to 11.2 terawatts,” Climate Home News reports.

“Today’s report is a wake-up call for the entire world: while we are making progress, we are off track to meet the global goal,” said COP28 President and fossil fuel CEO Sultan Al Jaber. “We need to increase the pace and scale of development.”

Decarbonization Divide

La Camera added that the top-line numbers obscure “ongoing patterns of concentration in geography” that “threaten to exacerbate the decarbonization divide and pose a significant barrier to achieving the tripling target.” The numbers show Asia leading the world in renewable power generation followed by North America, and South America recording an “impressive jump”, but Africa lagging at just 3.5% annual growth due to a persistent and dire lack of climate finance.

Global Renewables Alliance CEO Bruce Douglas echoed the concern about the imbalances in deployment between regions. “We shouldn’t be celebrating,” he said. “This growth is nowhere near enough and it’s not in the right places."

Even with the aggregate growth data for Asia, Climate Home says, analysis by the REN21 international policy group shows the continent as a whole—excluding renewables powerhouse China—accounting for less than 18% of new capacity additions in 2023.

“The justice piece is huge and too often overlooked,” Douglas said, with IRENA reporting that Africa has seen less than 2% of global renewables investment over the last two decades. “That’s not acceptable in terms of an equitable transition,” he declared.

In the Financial Times, human geographer Brett Christophers of the University of Uppsala’s Institute for Housing and Urban Research cautions against mistaking China’s big numbers on renewable energy deployment for a global trend.

“The view that the world is finally winning in the energy transition away from fossil fuels is increasingly prominent,” he writes. But “comforting as this take may be, we need to throw cold water over it. We are emphatically not yet winning, and it is time to stop pretending that we are.”

‘Hugely Misleading’

It’s “hugely misleading” to look at the global growth rate for renewables when “there is not one single energy transition but a series of regional transitions of widely varying form, pace and scope,” Christophers adds. That matters because “we need rapid growth in renewable investment everywhere,” in every region of the world.

But at present, “the outsized materiality of one—China’s—means global figures veil more than they reveal. They currently look impressive because, and only because, China’s do.”

Elsewhere, the New York Times reports that the U.S. oil industry is still booming, with high prices and recent growth in demand translating into higher profits, even as renewable energy and electric vehicles surge. “That the price and demand for oil have been so strong suggests that the shift to renewable energy and electric vehicles will take longer and be more bumpy than some climate activists and world leaders once hoped,” the Times writes.

While the industry has gained from high prices brought on by the COVID-19 recovery and Russia’s war in Ukraine, the Times lists other factors that have improved oil companies’ prospects: under pressure from Wall Street to offer better financial returns: they’ve become more hesitant to go into debt to pay for new growth, while laying off workers and automating more of their operations. The result is that oil and gas operators in the lower 48 U.S. states have generated US$485 billion in free cash flow since 2021, compared to $140 billion in the previous decade.

“The environmental consequences of the oil industry’s financial turnaround are mixed,” the Times writes, citing Brookings Institution Director Samantha Gross. “Producing and burning fossil fuels releases greenhouse gases that are warming the planet. But higher oil prices are also making cleaner forms of energy more attractive.”

Stryten to Expand Energy Storage Capacity to 24 GW/yr

Stryten Energy

Stryten Energy expands U.S. battery manufacturing to 24 GW/yr, strengthening grid storage and national defense readiness.

New Capacity Strengthens U.S. Energy Independence

Stryten Energy will expand its domestic battery manufacturing to 24 GW/yr, reinforcing U.S. energy resilience for critical sectors. The company is adding 10 GW/yr of new energy storage production, bringing total capacity across multiple states. These include existing facilities in Pennsylvania, New York, Indiana, Missouri, Wisconsin, and a new lithium battery plant in Georgia.

The move comes as the U.S. government pushes for greater localization of energy storage supply chains for national security and energy transition goals.

Applications Span Defense, Grid Storage, and Industry

Stryten batteries serve military, government, data centers, automotive, material handling, and grid storage sectors. The capacity boost ensures supply for high-priority applications, including mission-critical defense and infrastructure operations. This investment aligns with ongoing public-private energy security initiatives and increases resilience across the U.S. energy ecosystem.

The expansion is supported by the advanced manufacturing production tax credit, helping incentivize capital investments in domestic clean tech.

The Metalnomist Commentary

Stryten’s expansion confirms that U.S. battery capacity growth is no longer driven solely by EV demand. National security, grid stability, and industrial continuity now anchor the battery sector’s relevance — and future growth path.

GM to Invest $888M in NY Engine Plant for Sixth-Generation V-8 Production

General Motors

Tonawanda Facility to Support Internal Combustion and EV Manufacturing

GM to invest $888M in NY engine plant to produce its sixth-generation V-8 engines, reaffirming its commitment to high-performance internal combustion powertrains even amid its EV transition. The investment, directed to the Tonawanda Propulsion Plant in Buffalo, New York, is GM’s largest-ever commitment to an engine facility. Production of the new V-8 engines will begin in 2027, while the plant will continue assembling fifth-generation models in the interim.

This investment will fund the installation of new machinery, tools, and production equipment to support GM’s latest truck and SUV engine architecture. The sixth-generation V-8s are expected to power future full-size pickups and sport utility vehicles, key revenue drivers for the automaker. As GM invests $888M in NY engine plant, it underscores a dual-track strategy to sustain its internal combustion portfolio alongside electrification.

Prior EV Commitment Enhances Tonawanda's Strategic Role

The Tonawanda plant is already part of GM’s EV supply chain strategy. In 2023, GM committed $300 million to produce electric drive units at the facility through a deal with the United Auto Workers (UAW). With the new V-8 investment, Tonawanda becomes a hybrid production site, supporting both traditional and electric powertrain technologies. This dual-capability model reflects GM’s effort to balance market demand during a gradual transition from ICE to EV platforms.

As GM invests $888M in NY engine plant, it signals that the company sees continued demand for gasoline-powered vehicles—particularly in North America—while maintaining flexibility to scale EV output.

The Metalnomist Commentary

GM’s record-setting investment at Tonawanda highlights a pragmatic approach to powertrain diversification. By enhancing its ICE engine capabilities while scaling EV drive unit output, GM is hedging against market volatility and regulatory shifts in the U.S. automotive sector.

Indium Corp Gallium Recovery Grant Targets US Semiconductor Materials Security

Indium Corp

Indium Corp gallium recovery plans have gained US government support as Washington looks to build domestic supply chains for strategic semiconductor materials. The US-based metals refiner and manufacturer will receive a $3.2mn Department of Energy grant to recover gallium from industrial residues.

Indium Corp gallium recovery will focus on converting gallium-bearing residues into high-purity gallium for semiconductors and electronics. The project is part of the DOE’s Technology for Recovery and Advanced Critical-material Extraction-Gallium initiative.

Indium Corp gallium recovery matters because gallium is a critical input for compound semiconductors, radio-frequency devices, optoelectronics, defence systems and advanced electronics. The US remains heavily exposed to foreign supply because primary gallium production is concentrated in China.

The company will begin by developing a prototype to reclaim metallic gallium at its Rome, New York facility. In a second phase, it aims to scale the process to produce at least 1 t/yr of 99.99% pure gallium.

Gallium Residues Offer a Domestic Recovery Route

The project targets gallium-bearing residues rather than new primary mine output. This is strategically important because gallium is usually recovered as a by-product from alumina and zinc processing, making standalone primary supply difficult to build quickly.

Residue recovery can create a faster domestic supply route. If Indium Corp can economically recover high-purity gallium from waste streams, it could reduce dependence on imported material and strengthen US electronics supply chains.

The planned 99.99% purity level is important for semiconductor and electronics applications. High-purity gallium is used in materials such as gallium arsenide and gallium nitride, which support power electronics, LEDs, lasers, sensors, radar and communications equipment.

The Rome facility gives the project an existing industrial base. That can shorten the path from laboratory development to pilot production, although scale-up remains the key technical challenge.

A target of at least 1 t/yr is modest compared with global demand. However, the strategic value is larger than the tonnage suggests. The project could validate a recovery process that can later be expanded or replicated across other gallium-bearing waste streams.

TRACE-Ga Reflects US Push Into Critical Materials Recycling

Indium Corp was selected as one of five recipients under the DOE’s TRACE-Ga initiative. The programme will award a total of $5.4mn across companies working on gallium recovery and extraction technologies.

Other recipients include PHNX Materials, Atlantic Alumina, Found Energy and Kunin Technologies. Their inclusion shows that the US is exploring several recovery routes, from industrial waste refining to alumina-linked by-products and emerging mineral processing technologies.

The initiative reflects a broader policy shift. Washington is trying to secure critical materials not only through mining, but also through recycling, residue recovery, by-product extraction and domestic refining.

This approach is logical for gallium. China accounts for nearly all primary gallium production, making the market highly vulnerable to export controls, licensing delays and geopolitical disruption.

Gallium’s strategic value has increased because it supports both commercial and defence technologies. It is used in semiconductors, military systems, optics and high-frequency electronics.

For US manufacturers, secure gallium supply is becoming more urgent as demand grows from data centres, 5G systems, satellites, radar, power electronics and defence platforms.

The Indium Corp project will not solve the US gallium deficit by itself. But it is an important step toward creating a domestic recovery ecosystem for a metal that is difficult to source quickly during supply shocks.

The Metalnomist Commentary

The Indium Corp grant shows that gallium security will depend on by-product recovery and recycling as much as new mining. For the US, even small domestic gallium projects matter because the current supply chain is too concentrated for a material tied to semiconductors and defence.

Westbrook Energy Group Rebrands as OneWest: A Strategic Move to Strengthen Forging Operations

Westbrook Energy Group

In a significant shift for the forging industry, Westbrook Energy Group has officially rebranded as OneWest. This move consolidates the company’s various acquisitions into a more unified identity, signaling the group’s ambition to strengthen its position in new markets. The rebrand integrates key operations, including Forge USA, Viking Iron Works, and Western of Texas, under a new umbrella, OneWest Manufacturing Partners. However, Westbrook Manufacturing, Federal Flange, and Forged Components will remain separate brands, continuing their individual operations.

Streamlining Operations Under OneWest Manufacturing Partners

OneWest’s rebrand reflects the company’s strategic decision to unify its core operations while retaining individual brands where appropriate. Viking Iron Works, located in Poughkeepsie, New York, manufactures custom open die forgings for aerospace and industrial markets. With a capacity of up to 2,600 pounds, the company also provides heat treating, machining, and testing services. Viking handles a diverse range of materials, including carbon and alloy steels, as well as titanium grades, to produce seamless rings, disks, and bars.

Forge USA, based in Houston, Texas, focuses on producing open die forgings ranging from 1,000 to 55,000 pounds for similar industries. In addition to heat treating, Forge USA specializes in carbon, alloy, and stainless steels. The company plays a vital role in meeting the growing demands of various industrial sectors.

Western of Texas, situated in Kountze, Texas, specializes in flanges for oil and gas, petrochemical, and mining industries. The company’s expertise lies in producing custom forgings, including rings, disks, and blocks, weighing up to 55,000 pounds. Western of Texas works with stainless steel, nickel-based alloys, and low-temperature alloys to serve its diverse clientele.

No Disruption to Operations or Customer Commitments

Despite the integration of these key operations, OneWest emphasized that the restructuring will not disrupt ongoing operations or affect customer commitments. This strategic move aims to enhance the company’s ability to serve its clients more efficiently while solidifying its presence in key markets.

Alcoa Massena aluminum smelter investment anchors long-term US primary capacity

Alcoa Massena aluminum smelter

Alcoa Massena aluminum smelter investment marks a renewed commitment to US primary aluminum production and regional industrial jobs. The company has secured a 10-year, 240MW renewable power contract from the New York Power Authority, with extension options. This long-dated Massena renewable power deal underpins operations and gives Alcoa confidence to reinvest capital in the site. As a result, the plant’s future looks more secure in a market focused on low-carbon metal.

Alcoa will pair the new power deal with a $60mn modernization of the smelter’s anode baking furnace. The project, partially supported by a $6mn grant from Empire State Development, will run through 2028. Modern anode technology should improve energy efficiency and process stability, supporting lower emissions per tonne of primary aluminum. Therefore, the Alcoa Massena aluminum smelter investment aligns commercial resilience with decarbonisation goals.

Renewable power underpins Massena smelter competitiveness

The Massena renewable power deal is central to Alcoa’s cost and carbon strategy at the smelter. The 240MW allocation of renewable energy, starting 1 April, lowers exposure to volatile market power prices. It also strengthens Alcoa’s ability to market lower-carbon primary aluminum to automotive and packaging customers. Over time, options for two additional five-year terms could extend that visibility well beyond 2035.

Access to dedicated hydropower and other low-carbon sources is increasingly a competitive advantage in smelting. Many global smelters face pressure from higher fossil-based electricity prices and tightening climate policies. By contrast, Massena’s power structure gives Alcoa a stable platform for long-term contracts with downstream buyers. Consequently, the Massena renewable power deal reinforces the strategic value of US smelting capacity.

Modern anode baking furnace supports capacity and ESG goals

Upgrading the anode baking furnace is a critical part of the Alcoa Massena aluminum smelter investment. Carbon anodes are consumed in the electrolytic process, combining with oxygen from alumina and leaving molten aluminum. Furnace design and performance directly affect energy use, cell stability and overall emissions. New equipment should lift reliability, extend anode life and improve current efficiency in the pots.

It remains unclear whether nameplate capacity of 130,000 t/yr will change after the project. However, better anode performance often translates into higher effective output and lower unit costs. That, in turn, can support longer-term employment and justify further incremental improvements at the site. In a market where buyers increasingly demand traceable low-carbon aluminum, the Alcoa Massena aluminum smelter investment positions the plant as a more attractive supplier.

The Metalnomist Commentary

This package of renewable power and furnace modernisation shows how policy support can unlock private capital for hard-to-abate industries. If Massena’s upgraded profile leads to greener, more competitive primary aluminum, it could become a blueprint for other legacy smelters in North America. For downstream OEMs, a more secure and cleaner US supply base reduces dependence on higher-carbon imports.

ATI and USW Finalize Six-Year Labor Agreement for Specialty Alloys Division

ATI

ATI has finalized a six-year labor agreement with the United Steelworkers (USW), securing workforce stability across its specialty rolled products division. The deal, covering nearly 1,000 union employees, applies to six ATI facilities in Pennsylvania and one in New York. This development strengthens labor continuity at a time of increased demand for high-performance alloys used in aerospace, defense, and energy sectors.

The new ATI labor agreement ensures uninterrupted production of stainless steel, nickel alloys, cobalt alloys, and titanium-based products. ATI produces these materials in various forms, including sheet, strip, and plate, all critical for supply chains that depend on corrosion resistance, high-temperature strength, and specialty metallurgical performance. The agreement also reflects mutual confidence between ATI and the USW after past labor disputes.

Labor Stability Strengthens ATI’s Specialty Metals Output

The ATI labor agreement stabilizes operations across key manufacturing sites that serve aerospace, medical, and energy customers. These sectors require reliable supply of specialty alloys like nickel superalloys and titanium plate, which are often constrained by both technical complexity and production scale. Labor stability allows ATI to continue executing its strategy of focusing on high-margin, differentiated materials.

ATI’s recent capacity investments in its specialty rolled products segment suggest growing customer demand for advanced materials. The secured labor contract now reduces the risk of production disruptions and supports ATI’s long-term service commitments to strategic customers.

Titanium and Nickel Alloy Markets Benefit from Secure Supply Chain

By locking in a long-term labor agreement, ATI improves predictability in the nickel alloy and titanium product markets, where delays or shortages can significantly impact OEMs. As supply chain risk remains a top concern for defense and aerospace contractors, ATI's ability to maintain a stable, union-backed workforce adds resilience to its role in the specialty metals ecosystem.

This move also enhances ATI’s positioning in government contracts and specialty component supply, where operational reliability and labor compliance are prerequisites.

The Metalnomist Commentary

The new ATI labor agreement marks a strategic win for North American specialty metals stability. At a time of geopolitical supply risk and defense material bottlenecks, labor certainty helps ATI meet growing downstream demand for high-performance alloys.

Chipmakers Face Slower Automotive Demand in Q1 2025

Wolfspeed

Semiconductor Firms Anticipate Declining Auto Sales, With EV Growth Concentrated in China

Semiconductor companies like STMicroelectronics, Wolfspeed, and NXP are bracing for slower demand growth from the automotive sector in the first quarter of 2025. This reflects a broader decline in vehicle production outside of China, where the electric vehicle (EV) market continues to outpace the rest of the world.

Declining Automotive Demand and Growing EV Shift in China

NXP, based in the Netherlands, reported a 4% drop in its automotive revenue for 2024. This decline was attributed to "inventory digestion at western tier 1 customers" amid an uncertain automotive demand environment. The company expects further declines in automotive revenue for the first quarter of 2025. However, NXP’s revenue from China grew by 4%, highlighting an increase in semiconductor content in vehicles as Chinese automakers embrace electrification and software-defined architectures.

NXP's strategy for China, which it calls "China for China," involves producing devices at its Tianjin plant for sale to the Chinese market. According to NXP president and CEO Kurt Sievers, the growth is natural and structurally ongoing, especially in China where 50% of cars sold in the second half of 2024 were electric or hybrid. This rapid transition to EVs in China is fueling an above-average increase in the semiconductor content of vehicles.

STMicroelectronics, based in Switzerland, faces similar challenges and is prioritizing the transition from 150mm wafers to 200mm wafers, driven by demand for silicon carbide (SiC) semiconductors. SiC devices are crucial for the automotive sector, particularly for EVs. The company plans to start 200mm SiC semiconductor wafer production at its Shenzhen plant in the first half of 2026. STMicro reported that 2024 was one of the worst years in decades, with weaker demand in both the automotive and industrial sectors and a higher level of inventories.

In response to growing demand, STMicro is building a new facility in Catania, Italy, to supply western markets. Silicon carbide manufacturers are making the transition to 200mm to produce more devices per wafer, a move driven by increasing demand from the automotive sector. However, the industrial and energy (I&E) sector continues to show low semiconductor demand, forcing companies like STMicro to focus more on automotive sales.

Wolfspeed's Shift to Automotive and Growing Market Opportunities

Wolfspeed, a US-based company that has pivoted to focus on SiC wafers and devices, has seen its product mix shift from industrial and energy (I&E) applications to automotive. Wolfspeed is shifting production from its 150mm plant in Durham, North Carolina, to its new 200mm plant in Mohawk Valley, New York. The company expects its revenue split to shift to 70% automotive and 30% I&E as the transition progresses. Despite the shift, Wolfspeed acknowledges the slower-than-expected adoption of EVs, which has contributed to a weaker market environment for EV semiconductors.

Despite these challenges, Wolfspeed is well-positioned as a first mover in the 200mm transition and expects its automotive revenues to grow through a broad customer base. SiC demand from I&E applications is beginning to show signs of recovery, but visibility into the coming quarters remains uncertain.

The automotive sector continues to be a primary focus for semiconductor firms as demand from the industrial and energy sectors remains weak. With the increasing push for electrification, semiconductor companies are recalibrating their strategies, focusing on innovations like SiC wafer production and ramping up investments in manufacturing capacity to meet growing automotive demand.

US Niobium Defense Stockpile Strengthened by $50mn GAM Contract

Global Advanced Metals

The US niobium defense stockpile is set for a major expansion under a new $50mn supply contract awarded to Global Advanced Metals (GAM). The five-year, fixed-price agreement with the Defense Logistics Agency (DLA) covers up to 380,360lbs of niobium ingots for delivery to the Scotia Depot in New York. This move reinforces the US niobium defense stockpile at a time when Washington is accelerating efforts to secure critical minerals for advanced defense systems, aerospace components and high-performance alloys.

US niobium defense stockpile anchored by domestic production

The contract will see GAM produce niobium ingots at its Boyertown, Pennsylvania facility, anchoring the US niobium defense stockpile in domestic processing capability. This onshore production reduces exposure to geopolitical risk and supply disruptions from foreign sources. It also supports traceable, defense-grade quality standards important for superalloys, jet engines and advanced electronics.

In parallel, GAM has deepened its relationship with the US government through multiple awards. The company previously secured a $26.4mn award to produce niobium oxide and a separate five-year, fixed-price tantalum ingot contract worth up to $100mn. Together, these awards embed GAM at the core of US supply chains for niobium and tantalum, both on the US critical minerals list. As a result, the US niobium defense stockpile is increasingly backed by integrated tantalum and niobium capabilities within a single strategic supplier.

Critical minerals stockpile strategy widens beyond niobium

The DLA’s latest award fits into a broader push to expand US strategic reserves across a basket of critical minerals. Recent tenders and information requests have targeted antimony, cobalt, bismuth, high purity aluminum and scandium flake. This diversified approach recognises that modern defense platforms rely on complex material systems, not single metals. It also signals that niobium will sit alongside other critical inputs in a coordinated national stockpile strategy.

However, building a resilient US niobium defense stockpile will require long-term policy consistency and sustained funding beyond the current contract horizon. Fixed-price deals can stabilise budgeting but may compress margins if raw material costs rise. At the same time, capacity must scale in line with future demand from hypersonics, next-generation aircraft and power electronics. The latest GAM contract therefore looks like an important step, but not the final word, in US niobium security planning.

The Metalnomist Commentary

The GAM award underscores how quickly niobium has moved from a niche alloying element to a strategic pillar in US defense planning. By pairing niobium and tantalum contracts with broader stockpile tenders, Washington is quietly constructing a multi-metal buffer against future supply shocks. The next test will be whether parallel investments in mining, recycling and alloy R&D can keep pace with the Pentagon’s rising appetite for advanced materials.

Largo’s Vanadium Pentoxide Output Hits Two-Year High Despite Slower Sales

Largo Inc

Largo Inc. posted a strong 42% increase in vanadium pentoxide (V2O5) production in Q3 2024, driven by operational improvements at its Maracás Menchen mine in Brazil. However, sales volumes slipped by 18% amid weak demand from key steel markets in China and Europe.

Vanadium Pentoxide Production and Operational Gains

In Q3 2024, Largo produced 3,072 metric tonnes (t) of V2O5, its highest quarterly output in nearly two years, up from 2,163t during the same period in 2023. The growth was attributed to:

• Enhanced operational efficiencies.
• Higher vanadium recovery rates from processed ore.
• Completion of kiln refractory replacement and new equipment installations earlier this year.

Quarterly concentrate production also surged by 42%, reaching 124,408t.

Lagging Sales and Spot Market Challenges

Despite the production gains, Largo's V2O5 sales volumes fell to 1,961t in Q3, down from 2,385t in the prior-year quarter. The decline stemmed from lower spot market demand, which the company linked to adverse conditions in the Chinese and European steel industries.

Liquidity Boost Through Asset Manager Deal

To enhance capital liquidity and reduce inventories, Largo signed a deal to supply 2,100t of standard-grade V2O5 to an unnamed New York-based asset manager for $23.5 million. Key terms include:

• Staggered shipments between 17 October 2024 and 31 March 2025.
• Payment upon delivery.
• A repurchase option allowing Largo to buy back up to 2,100t at a fixed price (≤ $7/lb), with the final volume determined by September 2027.

By-Product Growth: Ilmenite

Largo also reported strong growth in ilmenite production, a by-product of its vanadium operations. Key figures include:

• A 90% sequential increase in production to 16,383t.
• A 60% rise in sales volumes to 19,572t.

Ilmenite figures were first reported in Q4 2023, making year-over-year comparisons unavailable.

Wolfspeed Secures $2.5B Funding to Expand Silicon Carbide Production in the US

Wolfspeed

Wolfspeed, a prominent US-based semiconductor manufacturer, is poised for significant expansion, targeting a $2.5 billion funding pool to boost its silicon carbide (SiC) production. This strategic move is aimed at addressing the surging demand from electric vehicle (EV) manufacturers and other industries reliant on SiC technology.

Key Funding Milestones

Wolfspeed has entered into a preliminary memorandum of terms (PMT) with the US Commerce Department, securing up to $750 million in direct funding under the Chips and Science Act. To meet the conditions for full funding, the company has also obtained $750 million in financing from a consortium of investment funds.

An additional $1 billion is expected in cash rebates through the advanced manufacturing tax credit provided by the Chips and Science Act. This credit allows companies to claim up to 25% of qualified capital expenditures, further bolstering Wolfspeed’s financial framework.

The funds will enable Wolfspeed to achieve two critical objectives:

Construction of a new SiC wafer manufacturing facility in Siler City, North Carolina.

30% expansion of its SiC power device production plant in Marcy, New York.

These projects are set to create the world’s largest 200mm SiC production footprint, serving key sectors such as automotive, industrial, and energy.

Supporting the EV Revolution

Silicon carbide is a pivotal material for the EV industry due to its superior efficiency in power conversion and thermal management. Wolfspeed’s expanded production capacity aims to solidify its leadership in the SiC market, addressing the rapidly increasing demand driven by global EV adoption.

Driving US Semiconductor Leadership

Wolfspeed’s ambitious initiatives align with the US government’s objectives under the Chips and Science Act, which seeks to strengthen domestic semiconductor manufacturing capabilities. These projects also underscore the growing importance of public-private partnerships in ensuring the US maintains its competitive edge in the global semiconductor industry.

With this funding in place, Wolfspeed is well-positioned to lead the SiC revolution, supporting advancements in clean energy, EV technology, and industrial applications.

Metal Craft US Expansion Shows How Steel and Aluminum Tariffs Are Reshaping Manufacturing

Metal Craft Spinning and Stamping

Metal Craft US expansion shows how US metal tariffs are changing cross-border manufacturing decisions. The Ontario-based fabricator plans to invest $1.3mn in a new plant in Niagara Falls, New York. The move is meant to reduce the cost pressure created by US steel and aluminum tariffs. As a result, Metal Craft US expansion reflects a wider industrial response to rising trade barriers.

The project includes renovations, machining equipment, and installation at a 25,000ft² industrial site. It is also expected to create 17 jobs. That makes the investment modest in size but important in meaning. Therefore, Metal Craft US expansion is less about scale and more about strategic positioning inside the US market.

The business logic is straightforward. Nearly three-quarters of Metal Craft’s customer base is in the United States. Serving those customers from inside the US can reduce tariff exposure and improve commercial flexibility. Consequently, US metal tariffs are influencing plant location decisions as much as product pricing.

US Metal Tariffs Are Pushing Manufacturers Toward Local Production

US metal tariffs are pushing foreign manufacturers to rethink how they serve the American market. President Donald Trump’s 50pc tariffs on steel and aluminum have raised the cost of cross-border supply for many producers. That pressure is especially strong for firms with heavy US sales exposure. As a result, some companies now see US production as a defensive necessity.

This shift matters because it changes investment patterns, not just trade flows. Instead of paying higher tariff costs, manufacturers may move part of their operations into the United States. That can protect customer relationships and preserve margins. Therefore, steel and aluminum tariffs are starting to reshape manufacturing geography in North America.

Cross-Border Manufacturing Now Faces a Higher Strategic Cost

Cross-border manufacturing has become harder to justify when tariff pressure stays high. Metal Craft fabricates products for roofing, construction equipment, furniture, and other industrial uses. These are practical end markets where cost competitiveness and delivery reliability matter. Meanwhile, tariff friction can quickly weaken both.

The broader implication is clear. Companies that rely heavily on US customers may now favor US-based processing, fabrication, or finishing capacity. That does not mean cross-border trade will disappear. However, it does mean the cost of staying outside the US has increased materially. Consequently, Metal Craft US expansion may become part of a wider trend among foreign metal fabricators.

The Metalnomist Commentary

This investment matters because it shows tariffs are doing more than raising prices. They are influencing where companies place real industrial assets. If tariff policy stays firm, more fabricators may choose local US production over cross-border exposure.

Lithium Argentina Relocates Corporate Headquarters to Switzerland

Lithium Argentina

Strategic Move Enhances Global Positioning and Operational Efficiency

Lithium Argentina AG, formerly known as Lithium Americas (Argentina) Corp., has successfully transitioned its corporate domicile from Canada to Switzerland. This strategic relocation, completed on January 23, 2025, aims to bolster the company's global positioning and operational efficiency.

Shareholder Approval and Strategic Benefits

The decision to move headquarters received overwhelming support, with 99.23% of voting shareholders in favor during the special meeting held on January 17, 2025. The relocation to Switzerland is expected to provide expanded financial flexibility, proximity to European markets, and an attractive framework for current and future investors.

Continued Operations and Market Presence

Despite the change in corporate domicile, Lithium Argentina's operational headquarters will remain in Buenos Aires, Argentina. The company continues to trade on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the new ticker symbol "LAR," effective January 27, 2025.

Ongoing Projects and Partnerships

In collaboration with Ganfeng Lithium Co., Ltd., Lithium Argentina operates the Caucharí-Olaroz lithium brine project in Jujuy Province, Argentina. This project is recognized as the largest greenfield lithium brine asset to commence operations in over two decades, with an annual production capacity of 40,000 tonnes of lithium carbonate.

Enhanced Production and Future Outlook

In 2023, the Caucharí-Olaroz project produced approximately 6,000 tonnes of lithium carbonate, surpassing initial guidance. The company anticipates releasing its fourth quarter and full-year 2024 financial results on March 21, 2025, providing further insights into production guidance for 2025.