Major Chinese pork processor WH Group has started to reorganize its business, first by selling off a seasoning unit in the US while trying to expand its presence in the European market through acquisitions, reports Nikkei Asia. In an attempt to lessen reliance on the US and China for about 90% of sales, WH will […]
Category: Commodities
Canada’s government ordered three Chinese firms to divest from a trio of small lithium miners based in the country, days after introducing tougher rules on foreign investments in the nation’s critical minerals sectors, reports the South China Morning Post. Sinomine (Hong Kong) Rare Metals Resources is required to divest in Vancouver-based Power Metals Corp, while […]
Top global battery maker Contemporary Amperex Technology (CATL) has agreed to take a stake in CMOC Group, a major cobalt producer, increasing vertical integration in China’s burgeoning EV supply chain, reports Bloomberg. The miner said its second-biggest shareholder had agreed to an earlier proposal to transfer its 24.68% holding—valued at RMB 26.75 billion ($3.7 billion)—to […]
China may start importing corn from Brazil as early as December, part of a drive by the world’s top buyer to reduce dependence on the US and replace supplies from Ukraine cut off by the Russian invasion, reports Bloomberg. Some 45 facilities owned by companies including Bunge, Cargill and Archer-Daniels-Midland have been pre-approved by Brazil […]
Maike Metals International is selling assets and studying a broader restructuring as it battles to survive a liquidity crisis, according to chair He Jinbi, reports the Financial Times. The final plan could involve “shareholding restructuring, asset restructuring and debt restructuring,” said He, illustrating the extent of the difficulties at one of China’s biggest commodity trading […]