Recently, the first cell rolled off the production line at the battery factory of Times BAIC (Beijing) New Energy Technology Co., Ltd., marking the start of the mass production phase. Times BAIC was jointly invested in and constructed by CATL, BAIC Group, Beijing Energy Group, and Xiaomi Group. Currently, construction of the factory is nearing completion, with equipment for the second production line undergoing commissioning. Full-scale production is expected to commence in August. For the entire year of 2026, the factory is projected to produce 7.5 GWh of cells. Once the project reaches full capacity, it will form an annual power battery production capacity of 15 GWh, significantly enhancing the product strength and cost advantages for Beijing-Tianjin-Hebei vehicle manufacturers such as BAIC and Xiaomi.

[SMM Rare Earth Flash] London-listed Pensana announced that construction of the Longonjo rare earth mine in Angola is progressing as planned, with a total investment of $250 million, targeting first commissioning and production of mixed rare earth carbonate (MREC) in 2027. The mine has a life of 20 years, with an initial annual output of 20,000 mt, expanding to 40,000 mt in the fourth year. The company is optimizing the heavy rare earth recovery circuit, targeting annual production of dysprosium and terbium exceeding 122 mt, and is expected to become one of the largest heavy rare earth producers in the Western world. Pensana has signed a non-binding memorandum of understanding with Toyota Tsusho for the potential off-take of up to 20,000 mt of mixed rare earth carbonate per year for five years. The project is also supported by offtake framework agreements with multiple partners.

As the NEV market develops, Malaysia is accelerating the establishment of a power battery recycling system. MARii estimates that by 2050, the country will need to recycle or dispose of 870,000 EV batteries. Currently, Malaysia has established a relevant regulatory framework and introduced the first EV battery passport standard in ASEAN (MS 2818). Meanwhile, Econili Battery New Energy has completed construction of a 24,000 mt/year power battery recycling project and plans to further expand its recycling capacity.

U.S. rare earth developer U.S. Rare Earths (USAR) plans to invest more than $203 million in France by 2030 to expand capacity for rare earth element separation, metals, alloys and magnet manufacturing. USAR said on Monday this expansion builds on French initiatives, including the LCM rare earth metal and alloy production facility in Lacq, an investment in Carester SAS, and investment from European private investment platform InfraVia Capital Partners.

Chalice announced that its “anomalous” copper-rare earth target at the Gonneville project near Perth in Western Australia has yet to be drill-tested. This prospect, named “Deep Blue,” is located 15 kilometers southeast of the Caravel copper deposit near the town of Goomalling in Western Australia. The copper-molybdenum-silver soil anomaly zone is approximately 2.5 kilometers long, and rock chip sampling has identified high-grade ore, with total rare earth oxide grade reaching up to 15%. In the coming weeks, the company will conduct reverse circulation drilling, expected to complete 10 holes. In 2020, Chalice discovered the Gonneville copper-nickel-platinum group metal deposit, and has since invested $250 million. The funds have been mainly used for expanding the mining rights area, drilling, beneficiation and metallurgical tests, and some feasibility study work.

【SMM Steel】On June 9 2026, Vallourec and Ultra Corpotech Pvt Ltd signed a Memorandum of Understanding to deploy VAM threading capabilities near Mumbai, India. A dedicated threading cell is scheduled for implementation in late 2026 with commissioning in early 2027, aiming to provide premium thread protection and related services for the Indian oilfield services sector. The asset-light cooperation allows both parties to respond quickly to regional demand with minimal capital footprint. Vallourec will license its VAM threading and inspection technology along with quality control system support. The agreement reflects a strategic shift for Vallourec as the company expands access to its premium connection technology through local partners in Asia, following similar agreements with Vietnam Process Equipment and Technology Joint Stock Company in March 2025 and Saudi Arabia's Industrial Investment Company in November 2025.

【SMM Steel】Mexican steelmaker TYASA started operations of its Special Steels project phase one on May 25, with $250m investment and 400,000 tonnes annual capacity. The new facility produces round bars 0.5-4 inches and hot-rolled flat bars 2-4 inches wide, serving automotive metalworking oil gas energy and toolmaking sectors. Total capacity reached 1.6 million tonnes per year, making TYASA the only Mexican producer across commercial long products flat steels and special steels. Inspection lines cold finishing and heat treatments will join operations in Q3.

【SMM Steel】Vietnam's Trade Remedies Authority has validated a complete application from local manufacturers seeking an anti-dumping investigation on prestressed steel bars imported from China. The petition aims to evaluate whether these imports cause material injury or impede the establishment of a domestic industry. The investigating authority has 45 days to review legal representation and injury evidence before making a final recommendation to the Minister of Industry and Trade on case initiation. Vietnam imposed AD duties of 9.79-28% on prestressed steel strand from Malaysia Thailand and China in January 2025 and initiated a first review on January 21 2026. A new probe on steel bars would expand Vietnam's trade remedy scope against Chinese steel products.

【SMM Steel】South Korea's Cabinet passed the enforcement decree for the Special Act on Korea-US Strategic Investment on June 9, effective June 18. The $350bn pledge includes $150bn for shipbuilding and $200bn for strategic sectors. Projects must meet commercial viability: total income returning to South Korea must cover principal and interest based on 20-year US Treasury yields plus an agreed spread. A special committee chaired by the trade minister will review projects. The government will establish a $1.3bn Korea-US Strategic Investment Corporation with a 20-year lifespan.

India's state-run steelmaker RINL has suspended operations at its Steel Melt Shop 1 (SMS-1) following an explosion on June 11 that killed nine workers and critically injured several others. During the incident, casting machines 1–4 were in operation. A second explosion at machine 2 occurred just 20 minutes later, disabling a crane and damaging equipment. Preliminary investigations point to a sudden release of trapped gases (oxygen, hydrogen, nitrogen) in molten steel as the likely cause. A separate molten metal spill at SMS-2 was reported 15–20 minutes prior. Operations remain halted.