SEOUL, Aug. 30 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will buy a 5 percent stake in Korea Zinc for 530 billion won (US$400 million) in the latest move to secure a stable supply of nickel for its electric vehicles (EVs). The move by HMG Global LLC — a business entity set up [...]
SEOUL, Feb. 24 (Korea Bizwire) — POSCO Holdings Inc., South Korea’s top steelmaker, said Friday it has signed a preliminary deal with a Chinese firm for the production of nickel in Indonesia. Under the deal with Chinese resource trading and mining firm Ningbo Liqin, POSCO will build a plant to produce 120,000 tons of mixed [...]
SEOUL, Nov. 25 (Korea Bizwire) — South Korean battery maker SK On Co. said Friday it has signed an initial agreement with two battery component producers to build a facility in Indonesia to produce an intermediate nickel product for electric vehicle batteries to secure stable supply of the key material. The memorandum of understanding (MOU) [...]
SEOUL, March 10 (Korea Bizwire) — South Korea’s battery makers are on alert as the price of nickel and other materials is surging. The Korea Mineral Resource Information Service reported that the global price of nickel had jumped to US$42,995 per ton on Monday, an annual increase of 132.5 percent, noting that 10 percent of [...]
SEOUL, May 20 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Thursday it has signed a deal to buy a 30 percent stake in the Ravensthorpe Nickel Operation in Australia for US$240 million in the latest move to boost its electric vehicle battery business. Under the deal with Canadian miner First Quantum [...]
MONTREAL, March 1 (Korea Bizwire) – Brunswick Exploration Inc. (“BRW” or the “Company”) is pleased to announce that is has signed option and purchase agreements from a private company and prospectors to acquire a 100% interest in the Lac Édouard Nickel Project (“Lac Édouard” or the “Property”), located 40 km northeast of the town of La Tuque, [...]
NEW YORK, Feb. 25 (Korea Bizwire) — via NetworkWire – Pacific Rim Cobalt Corp. (CSE:BOLT) (OTCQB:PCRCF) (XFRA:NXFE) today announces its placement in an editorial published by NetworkNewsWire (“NNW”), one of 40+ brands in the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities. To view the full publication, titled “Indonesia Consolidates Nickel Production to Feed Growing EV [...]
SEOUL, Sept. 21 (Korea Bizwire) — South Korea’s cathode material producers are likely to see solid earnings in the fourth quarter of the year on a surge in nickel and cobalt prices, analysts here said Saturday, amid growing demand for electric vehicle (EV) batteries. Nickel and cobalt are key raw materials for cathodes, one of [...]
SEOUL, Aug. 19 (Korea Bizwire) – A group of local consumers was to file a 2.8 billion won (US$2.53 million) class action suit Friday against Coway, South Korea’s leading water purifier maker, over its water purifier models coated with nickel that they claim taints the water and poses a health hazard. Nickel from the inner [...]
SEOUL, July 7 (Korea Bizwire) – Consumers are banding together for civil and criminal suits against Coway, South Korea’s leading maker of water purifiers, after nickel was discovered mixed in the water when using certain company models, industry officials said Thursday. Some consumers are claiming the same defect in products from other companies, raising the [...]