SUNSHINE RecycleFlash Weekly: February 17-21, 2025

February 21, 2025

Gold Rises As Trump Tariff Uncertainty Fuels Safe-Haven Demand

Gold prices rose over 1% on Tuesday as concerns over economic growth, due to uncertainty surrounding U.S. President Donald Trump’s tariff plans, prompted safe-haven flows into bullion. Spot gold gained 1.2% to $2,932.79 an ounce as of 2:11 p.m. ET (1911 GMT) after hitting a record high of $2,942.70 last week. U.S. gold futures settled 1.7% higher at $2,949. (Reuters)

Copper Falls as Citi Predicts Prices Will Retreat on US Tariffs

Copper in London declined after Citigroup Inc. flagged risks of a pullback in prices from the impact of US tariffs on demand. The metal has risen almost 8% this year due to resilience in the physical market, while the LMEX Index that tracks the six major contracts on the London Metal Exchange closed at a three-month high on Tuesday. Copper can sustain current levels around $9,400 a ton until early April, after which the implementation of US tariffs could see prices drop to $8,500 within three months, Citigroup analysts including Tom Mulqueen said in a research note. (Bloomberg)

U. S. Aluminum Industry Navigates Tariff Changes

The Aluminum Monthly Metals Index saw a slight increase, but LME aluminum prices remained consolidated while the Midwest Premium surged due to tariff threats. New tariffs on aluminum imports from Canada and Mexico, as well as a general tariff on all aluminum, have caused market disruption and concern over suppressed demand. While the U.S. aluminum industry has shown support for tariffs to protect domestic production, there are also concerns about the need for exemptions and the potential for increased production costs. (Metal Miner)

Call2Recycle Marks Record-Breaking Year in Battery Recycling Across Canada

Call2Recycle is excited to mark National Battery Day by announcing that Canadians recycled over 6.8 million kilograms of used batteries in 2024, through its Recycle Your Batteries, Canada! program – representing a 17% increase from the previous year, with year-over-year increases in most provinces, including significant double-digit growth in Ontario and Québec. (Call2Recycle)

Ivanhoe Mines Commences Exploration for Sediment-hosted Copper in Central Kazakhstan

Ivanhoe Mines announced that it has formed an Exploration Joint Venture to explore the Chu-Sarysu Copper Basin in Kazakhstan, the world’s third-largest sediment-hosted copper district. The Joint Venture, with UK-based private company Pallas Resources, covers a highly prospective licence package of up to 16,000 square kilometers, which spans an accumulated dataset of Soviet-era exploration data. For comparison, the licence package is approximately 7.5 times the size of Ivanhoe’s Western Forelands Exploration Project. Ivanhoe has committed to fund $18.7 million in exploration activities over an initial two year period, with earn-in rights to further increase ownership up to 80% over time. Exploration activities are underway, including the hiring of a dedicated exploration team. An airborne geophysics contract is currently under tender and is expected to be awarded imminently. (Ivanhoe Mines)

Tata Steel UK Secures Green Light for £1.25bn Port Talbot Overhaul

Tata Steel UK has received the green light to revolutionize its steelmaking operations in Port Talbot, marking a pivotal shift toward sustainable production. The company’s proposal to introduce an Electric Arc Furnace (EAF) has officially secured approval, paving the way for a cleaner, more efficient future. (Sustainable Times)

South Australia Places Gupta’s Whyalla Steelworks In Administration

South Australia Premier Peter Malinauskas said on Wednesday the state had placed commodity tycoon Sanjeev Gupta’s Whyalla Steelworks in administration, citing its deteriorating financial position. Gupta’s family conglomerate, GFG Alliance, has been refinancing its global businesses in steel, aluminium and energy since its backer, supply chain finance firm Greensill, filed for insolvency in March 2021. Another subsidiary, Liberty Steel East Europe, was put into administration late last year. (Reuters)

Ace Green Recycling Secures Key Lead and Lithium Licensing Agreements in Armenia

Ace Green Recycling, Inc., a leading provider of sustainable battery recycling technology solutions, today announced the Company has signed two key agreements to license its technology and battery recycling equipment to Mel Metal LLC (“Mel Metal”), a leading Armenian non-ferrous scrap recycling company. As part of these deals, Ace expects to license its proprietary GREENLEAD® Recovery Technology and sell and license its lithium battery equipment services to Mel Metal in Armenia and Georgia. (PRNewswire)

Call2recycle Collaborates With Partners To Launch A High-Energy Battery Recycling Program

Call2Recycle, Inc., in collaboration with the Outdoor Power Equipment Institute (OPEI) and the Power Tool Institute (PTI), has launched a program to facilitate the safe collection and responsible recycling of high energy batteries used in these industry products. The High Energy Battery Recycling program, made possible through voluntary funding by dedicated and safety-conscious outdoor power equipment and power tool manufacturers, will establish a network of trained collection sites for users to easily drop off their batteries recycling! (Call2Recycle)

Elemental Holding Secures US$290 Million Equity Investment from IFC, EBRD, and PFR

Elemental Holding SA, the global urban mining and recycling powerhouse originating from Poland, with headquarters in Luxemburg, today announces that it has successfully completed a US$290 million equity private placement from a group of international financial institutions. The investment was led by the International Finance Corporation (“IFC”), the European Bank for Reconstruction and Development (“EBRD”), and the Polish Development Fund S.A. (“PFR”), bringing together a unique combination of world-class financial investors. The equity private placement is an important step for the Company towards securing more than US$500 million in growth capital including project finance debt, and grants from the European Union. This capital will be committed to funding the Company’s exciting pipeline of growth projects, accelerating its global acquisition strategy, and securing funding for general corporate purposes. (CORNERSTONE)

Trump Raises Tariffs On Aluminum, Steel Imports In Latest Trade War Salvo

US President Donald Trump substantially raised tariffs on steel and aluminum imports on Feb 10th to a flat 25% “without exceptions or exemptions” in a move to aid the struggling industries but which increases the risk of a multi-front trade war. Trump signed proclamations raising the U.S. tariff rate on aluminum to 25% from his previous 10% rate and eliminating country exceptions and quota deals as well as hundreds of thousands of product-specific tariff exclusions for both metals. A White House official confirmed the measures would take effect on March 4. (Reuters)

EU Pledges Countermeasures Against Trump’s Tariffs on Metals

The European Union vowed to respond to 25% tariffs President Donald Trump said the US will impose on steel and aluminum imports, escalating a potential trade dispute with one of Washington’s closest allies. The tariffs follow through on Trump’s complaint that the EU treats the US “very unfairly,” and he often cites the bloc’s trade surplus with the US as a reason for punitive measures. The new rates will take effect on March 12, according to a pair of proclamations issued by the White House late Monday. (Bloomberg)

U.S. Battery Industry Asks Congress to Defend Domestic Supply Chains

Battery Council International (BCI) has published a briefing for legislators that provides recommendations to create jobs, support domestic battery manufacturers, and defend the domestic economy from unfair foreign competition. (Batterycouncil)

New US Bill Aims To Monitor Textile Waste And Recycling

The STEWARD Act was championed by chairman Shelley Moore Capito, ranking member Sheldon Whitehouse, and Senator John Boozman. Having secured unanimous committee approval on 5 February, the legislation aims to monitor textile waste in conjunction with other materials. Commending the committee, American Circular Textiles (ACT) emphasised the historical neglect of textiles in federal recycling initiatives and expressed optimism about the committee’s acknowledgment of the necessity for enhanced data collection. This development could potentially pave the way for circular strategies within the textile industry. (Yahoo Finance)

Scrap Not Included In US Steel, Aluminum Tariffs

The Washington-based Recycled Materials Association (ReMA) says its review and analysis of the executive orders on inbound steel and aluminum tariffs indicate ferrous and aluminum scrap can continue to trade freely across the United States border. (ReMA)

Freeport to Resume Copper Concentrate Export But It Has to Pay Higher Taxes

The Indonesian government will let Freeport sell copper concentrates overseas again despite its expired export permit, but the mining giant has to pay more in taxes, according to a minister. Indonesia has banned exports of copper concentrates starting this year. The ban aims to expand the domestic processing capacity, so Indonesia can export goods of higher added value. Freeport has already built a smelter, which could refine 1.7 million copper concentrates a year, in East Java’s Gresik. This facility was supposed to operate at full capacity by the end-2024, but caught fire last October. Amid the renovations work to the damaged smelter, Freeport’s executives have been nudging the government into letting the miner export 1.3 million tons of copper concentrates until December. The export ban, alongside the fire, has led to a huge pileup in its Papua warehouse. (Jakarta Globe)