Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
Battery Metals
Turkey and China have signed a memorandum of understanding (MOU) to strengthen cooperation in mining, with a particular focus on critical minerals like rare earth elements. The agreement includes plans to develop an industrial facility to process 570,000 tonnes of rare earth elements annually, utilizing Turkey's large reserves in Eskişehir. The collaboration also opens potential opportunities in modular reactors and renewable energy partnerships between the two countries.
Graphite One has received a non-binding Letter of Interest (LI) from the U.S. Export-Import Bank (EXIM) for potential debt financing of up to $325 million to support its graphite supply chain project. Graphite One plans to develop a domestic supply chain anchored by the Graphite Creek deposit in Alaska, which includes a manufacturing and recycling facility in Ohio. The company expects to make a production decision after its Feasibility Study, due in Q1 2025.
Related Stock List(s): Commodity Trust Stocks, Commodity Royalty Stocks
Biofuels/Chemicals
Southwest Airlines has entered a deal with Valero Energy to supply SAF to Chicago Midway International Airport. Under the two-year agreement, Southwest will initially purchase a minimum of 3.6 million gallons of neat SAF, with an option to buy up to 25 million gallons throughout the contract period. Diamond Green Diesel, a joint venture between Valero and Darling Ingredients, will supply the fuel.
Related Stock List(s): Biofuels & Chemicals Stocks
Liquified Natural Gas (LNG)
India’s state-owned Hindustan Petroleum Corporation Limited (HPCL) is set to commission its new LNG import terminal at Chhara in Gujarat, targeting a launch between December 2024 and January 2025. The facility, which will be India’s sixth LNG terminal, has an initial regasification capacity of 5 million mmtpa, with plans to expand to 10 mmtpa.
Related Stock List(s): LNG Stocks
Renewable Energy
BP is reportedly considering selling a minority stake in its offshore wind business to reduce its financial exposure in the sector. BP has allegedly engaged Bank of America to help identify potential partners for this sale.