EU-US Tariff Truce, Lithium Ventures, AngloGold Investment, And ZK International's Big Win

The European Union extended its tariff suspension for U.S. products related to the ongoing steel and aluminum dispute to March 31, 2025.

The extension is the result of a deal struck with the U.S., which will also extend its suspension of tariffs. The extension will result in E.U. steel and aluminum exporters saving roughly €1.5 billion annually. The E.U added that both parties will continue to engage constructively, and the mutual extension provides the time and policy space to reach an agreement on the remaining Global Arrangement on Sustainable Steel and Aluminium (GSA) issues.

Elsewhere, Foremost Lithium announced winter drilling plans on its Jean Lake lithium and gold property.

CEO Jason Barnard commented on the matter, saying: "Gold has hit an all-time high this month. This Jean Lake property has an added benefit of previous gold and lithium discoveries, which provides us an opportune position to be able to move forward to explore both batteries and precious metals with the drill."

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Also in the Lithium sector, Alpha Lithium Corporation announced that it completed its privatization and is now a wholly-owned direct subsidiary of TechEnergy Lithium Canada and indirect subsidiary of Tecpetrol Investments. TechEnergy Lithium Canada will acquire all common shares of Alphas Lithium for C$1.48 per share, and Alpha shares will be delisted from the NEO exchange on December 20, 2023.

In the gold sector, AngloGold Ashanti announced that it intends to buy 24.5 million shares of G2 Goldfields at C$0.90 per share, totaling C$22.05 million.

CEO of AngloGold Ashanti, Alberto Calderon, commented on the investment, saying: "This strategic investment in G2 will provide us with a strong position in one of the world's key gold provinces with significant potential for new discoveries. We look forward to G2's continued exploration success as the Guiana Shield continues to develop."

Finally, ZK International Group won an $8 million bid with Chongqing Gas Group to supply the pipe products for its municipal gas infrastructure project.

Chairman of ZK International, Jiancong Huang, commented on the news, stating: “We are pleased to be selected as a key supplier for the municipal natural gas infrastructure program amongst several of our competitors during this bidding process as well as to start a new working relationship with Chongqing Gas Group. We are excited that this bidding success, along with other key pending contracts and agreements will allow us to expand our presence to Western China in Chongqing city.”

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