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14 October 2019
London-listed Sirius Minerals on Friday announced that it had signed a ten-year supply and distribution agreement with a State-owned Qatari company, sending its share price up 3.5% to 3.55p each by 15:30. Qatar Chemical and Petrochemical Marketing and Distribution Company (Muntajat) will sell and distribute POLY4 into Africa, Australia, New Zealand and certain remaining Middle-Eastern and Asian territories.
South America controls about 70% of the world’s reserves of lithium, the metal used in rechargeable batteries for mobile phones and electric vehicles, but none of the infrastructure needed to put it to work. Lithium refining and battery-assembling facilities could help kick start industries in economies that are largely dependent on commodities for revenue, putting them at risk from sharp price swings. But so far, public and private initiatives in Argentina, Bolivia, Brazil and Chile have failed to deliver even a single lithium cell factory. And none are set to be built through 2025.
The behind-schedule Sunrise battery materials complex, in central New South Wales, Australia, will be ready for a final investment decision (FID) by the middle of next year, owner CleanTeQ said on Friday, announcing that the project would transition to a conventional engineering, procurement and construction management (EPCM) execution approach. CleanTeQ explained that the project was behind schedule because it had not been able to agree on a number of design, procurement, contracting and project execution matters with contractor Metallurgical Corporation of China (MCC).
British energy major BP said on Friday that it expected to deliver divestment proceeds of $10-billion by the end of this year, with significant contributions from the agreed sale of its Alaska assets and US shale divestments. The $5.6-billion sale of BP's Alaskan business to Hilcorp, announced in August and subject to regulatory approval, is the biggest single agreed transaction and is expected to complete in 2020.
Four men have been sentenced to life imprisonment for the murder of a mine manager in Odendaalsrus in the gold fields of the Free State more than two years ago, police said on Friday. Tota Ezekiel Mohlabane, 26, Pitso Caswell Mokeki, 29, Thabeso Khoase, 36 and Motlalepule Ramakoane, 36, were sentenced for killing Simphiwe Kubheka while he was exiting one of Harmony Gold's mine premises in September, 2017.