January 2024 Metallurgy Blog
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January 19, 2024
Norway May Be First Ever Country to Mine Deep Sea for Precious Metals
Norway May Be First Ever Country to Mine Deep Sea for Precious Metals
Norway is preparing to become the first country to mine its deep-sea waters for precious metals. Some small scale deep-sea mining tests have been allowed to run, however, this may be the first time a country is allowed to carry out deep sea mining at a commercial scale. If allowed to run the new mining strategy would look to collect rare minerals such as lithium, scandium, and cobalt from the crust on the ocean floor. Norway’s Minister of Petroleum and Energy Terje Aasland stated that “"We need minerals to succeed in the green transition. Currently, the resources are controlled by a few countries, which makes us vulnerable." Nevertheless, the Norwegian government said that environmental risks will be assessed first before any permits for exploitation are issued. Industry experts have mentioned that they don’t expect mining to start before at least the early 2030s. Learn more about this topic here.
January 31, 2024
Sustainable Metal Manufacturing Firm Boston Metal Continues to Expand
Sustainable Metal Manufacturing Firm Boston Metal Continues to Expand
Sustainable metal manufacturing company Boston Metal continues to expand gaining funding from Tokyo-based Marunouchi Innovation Partners. Known for its zero-emissions steel production technology Boston Metal has been working diligently to bring its innovative sustainable mass metal production technique to market. This most recent Series C2 funding round saw Marunouchi Innovation Partners invest $20 million in Boston Metal bringing the series total to $282 million. With this newly acquired capital Boston Metal will look to expand throughout Asia, a lucrative market that accounts for more than 70% of the world's steel production. The funding will also help the company accelerate their efforts to bring their Molten Oxide Electrolysis steel and metal manufacturing technique to market, while at the same time also aiding them in retaining top industry talent. Boston Metal plans to commercialize its patented technique by 2026 to aid the steel industry’s 2050 net zero carbon goals, and they expect to start generating revenue from their high-value metal business as soon as 2024. CEO of Marunouchi Innovation Partners Ichiro Miyoshi said, "We recognize the critical importance of advancing sustainable practices in metal production," and "Our investment in Boston Metal is a testament to our belief that their technology represents an innovative, long-term solution for commercial green steel production amid the growing global steel demand." Learn more about this topic here.
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