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Recent Developments in the Mineral and Metal Industry Key Events in the Mineral Industry: Ivanhoe Electric, Cleveland-Cliffs, Olympic Steel, and TMC



Ivanhoe Electric, a prominent mineral and electric metals exploration company, announced that Executive Chairman Robert Friedland is scheduled to deliver a keynote presentation at the Future Minerals Forum on Jan.10 at the King Abdulaziz International Conference Center in Riyadh, Saudi Arabia.

Furthermore, President and CEO Taylor Melvin will participate in a panel discussion focusing on developing a robust and resilient mineral supply roadmap.

Ivanhoe Electric’s Typhoon geophysical surveying system will be showcased and utilized during the forum to support its joint venture with Saudi Arabian Mining Company Ma’aden.

In a separate development, Cleveland-Cliffs Inc., the largest flat-rolled steel producer in North America, has declared an increase in spot market base prices for all of its carbon hot-rolled, cold-rolled and coated steel products, setting the minimum price for hot-rolled steel at $1,150 per net ton.

Additionally, the national metals service center Olympic Steel Inc. has appointed Zachary J. Siegal to the newly-established position of president of Manufactured Metal Products, wherein he will spearhead Olympic Steel’s Manufactured Metal Products business group.

Finally, TMC The Metals Company Inc., which is involved in exploring undeveloped sources of critical battery metals, has expressed support for the 2024 National Defense Authorization Act signed into law by President Joe Biden.

The act mandates the Department of Defense to evaluate the processing of seafloor polymetallic nodules as a potential source of essential battery metals and submit a report by March 1, 2024.

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This action is in response to Congressional calls for strengthening the supply chains of rare earth and critical minerals crucial for American auto and battery industries under the Inflation Reduction Act.