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LONDON, Nov. 25, 2024 /PRNewswire/ — More than 100 years ago, a ship left a Nova Scotia harbor carrying a precious cargo that few today would recognize as valuable. The crew, full of optimism, was bound for Wales hoping that the metal they carried would lead them to riches. Unfortunately, they never made it.  Companies mentioned in this release include: United States Steel (NYSE: X), ArcelorMittal (NYSE: MT), Energy Fuels (NYSE American: UUUU), Huntington Ingalls Industries (NYSE: HII), Leidos (NYSE: LDOS).

A German U-boat lurking in the cold Atlantic waters fired a torpedo and the ship went down, sinking to the ocean floor along with its mysterious cargo.

At the time, the metal seemed unimportant, but its true value wasn’t fully realized until later. Fast forward to today and that same metal is critical to modern military and industrial applications. That metal, once forgotten at the bottom of the sea is not gold or silver, but antimony—a mineral that has become a key player in global conflicts and high-tech industries alike.

This shipwreck might sound like an intriguing piece of history, but it’s far more than that. It’s a reminder of how vital antimony has been and continues to be for national security and economic stability.

Now, thanks to Military Metals Corp. (MILI.CN; MILIF.QB), the very same mine in Nova Scotia that once produced this valuable metal is being re-visited. And it couldn’t have come at a more crucial time.

Antimony: The Unsung Hero of Modern Warfare

Antimony might not be a household name, but it’s been an essential material in warfare for centuries. During both World War I and World War II, antimony was used in everything from bullet casings to explosives.

Today, it’s more important than ever. According to the U.S. Geological Survey, American manufacturers use over 50 million pounds of antimony each year.

That’s because antimony is a critical component in the production of semiconductors, batteries, and solar panels. From electronics to renewable energy, the modern world runs on antimony.

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In short, antimony is critical to both offensive and defensive operations. Any disruption to the supply of this key mineral could have devastating effects on national security.

The Growing Threat of an Antimony Shortage

This is where things get concerning. For decades, the U.S. has relied on antimony imports from China. In fact, China controls nearly 50% of antimony mining and 80% of the world’s antimony production. This has put the U.S. in a precarious position, especially as tensions with China continue to rise.

The U.S. military is well aware of the risks. The Pentagon has been scrambling to secure a domestic source of antimony, recognizing that losing access to this vital mineral could severely impact America’s ability to defend itself.

That’s why Military Metals (MILI.CN; MILIF.QB) is stepping in at the perfect moment.

The company has taken a bold step with their plans to redevelop the historic West Gore Antimony Project in Nova Scotia. This mine was once a key source of antimony during both World War I. Today, it stands as one of the few potential sources of antimony in North America.

The company has also recently acquired one of Europe’s largest antimony deposits with a historical resource in Slovakia which could prove even more promising as tensions between Russia and Europe escalate.

The above table is data from their recent Slovakian acquisition and helps to show the potential in situ value of Military Metals.

Simply multiply the antimony tons (60,998) by the current spot price ($38,000) to arrive at a total of $2,000,000,000 in situ value of antimony in the ground. The company is merely $23 million at its current market cap with a healthy cash position. Also, the average grade of the resource is 2.478%, which is considered very high for antimony. Most antimony is produced at low grades as a by-product of some gold deposits.

By comparison, Perpetua Resources, which is in the process of receiving a $1.86-billion government loan to develop their strategic resource, is valued at around $700 million with 90,000 tons of antimony.

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By announcing the definitive agreement on Slovakia assets as well as acquiring the West Gore project in North America, Military Metals Corp. is positioning itself as a critical player in the fight to secure domestic antimony production.

The company’s CEO, Scott Eldridge, has stated, “The acquisition of the West Gore Antimony Project demonstrates our strategy of becoming a significant global antimony player.”

Eldridge understands the importance of antimony not just for military use, but also for a wide range of industrial applications. He’s betting that as tensions with China escalate, the value of domestically produced antimony will skyrocket.

This isn’t just speculation. The U.S. government has already started investing heavily in securing domestic sources of critical minerals, including antimony. And Military Metals Corp., with its historic West Gore project, is perfectly positioned to capitalize on this growing demand.

The Strategic Importance of Domestic Antimony Production

The potential reopening of the West Gore mine is more than just a business opportunity. It’s a strategic move to safeguard North America’s supply of a mineral that could decide the outcome of the next global conflict.

Antimony is on the U.S. government’s list of critical minerals, and for good reason. Without it, the military cannot produce the advanced weapons systems needed to defend the country. As China tightens its grip on global antimony production, securing a domestic source has become a matter of national security.

Military Metals (MILI.CN; MILIF.QB) West Gore project is one of the only known sources of antimony in North America. This puts the company in a unique position to benefit from government initiatives aimed at stockpiling critical minerals.

With billions of dollars being allocated to secure domestic mineral supplies, companies like Military Metals Corp. stand to gain substantial financial support.

But it’s not just the government that’s interested. The private sector is also waking up to the importance of antimony. As industries like renewable energy and tech continue to grow, demand for antimony will only increase. And with China controlling most of the world’s supply, companies that can produce antimony domestically will be in high demand.

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Antimony-Focused Strategy

The company has made it clear that it’s focused on acquiring and developing antimony resources across North America and with their latest definitive agreement announcement on two Antimony projects in Europe, they have a chance to be a global powerhouse. This strategy is designed to potentially make them one of the leading suppliers of antimony outside of China.

With the global antimony market expected to grow significantly in the coming years, Military Metals Corp. is positioning itself as a key player in what could be one of the most critical supply chain battles of the 21st century.

In addition to the definitive agreement for Slovakian assets, the company is actively exploring additional opportunities to acquire other antimony assets, ensuring that it remains at the forefront of this growing industry.

Other companies to keep a close eye on:

United States Steel (NYSE: X)

United States Steel is an integrated steel producer with major operations in the United States and Central Europe. As a major steel supplier to the automotive, appliance, construction, and energy sectors, U.S. Steel plays a vital role in the U.S. economy. A strong domestic steel industry is essential for maintaining a robust manufacturing base, which contributes to national security by ensuring the ability to produce critical equipment and infrastructure. 

U.S. Steel’s production capacity and focus on research and development are crucial for meeting the evolving demands of the defense industry. Their ability to produce advanced high-strength steels and other specialized steel products is essential for constructing modern military vehicles, ships, and infrastructure. 

ArcelorMittal (NYSE: MT)

ArcelorMittal is the world’s leading steel and mining company with a significant presence in the United States. Their vast production capacity and global reach make them a critical supplier of steel to various industries, including the defense sector. ArcelorMittal produces a wide range of steel products, from basic sheet steel to specialized high-strength alloys, essential for manufacturing vehicles, ships, and infrastructure. 

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ArcelorMittal’s commitment to research and development keeps them at the forefront of steelmaking technology. This is crucial for meeting the evolving demands of the defense industry, which requires advanced materials to produce lighter, stronger, and more resilient equipment. 

Energy Fuels (NYSE American: UUUU)

Energy Fuels is a leading U.S.-based uranium mining company, operating the only conventional uranium mill in the United States. With a diverse portfolio of uranium mines and projects across the Western U.S., they are a crucial player in the U.S. nuclear fuel cycle. Energy Fuels also produces vanadium, a metal used in high-strength steel alloys and aerospace applications.

The company plays a vital role in ensuring a secure and reliable domestic supply of uranium, which is essential for nuclear power plants that provide a significant portion of the nation’s electricity. This reduces reliance on foreign sources of nuclear fuel and strengthens energy security.

Huntington Ingalls Industries (NYSE: HII)

Huntington Ingalls Industries is America’s largest military shipbuilding company, with 42,000 employees. They design, build, and maintain nuclear-powered aircraft carriers and submarines, and provide after-market services for military ships globally. Huntington Ingalls also provides mission-critical national security solutions to government and commercial customers. 

Huntington Ingalls Industries is the sole builder of aircraft carriers for the U.S. Navy and one of only two companies that build nuclear-powered submarines. The company’s shipbuilding expertise is critical to the U.S. Navy’s ability to maintain its global presence and protect national interests. Huntington Ingalls is also a major provider of technical and management services to the U.S. government.

Leidos (NYSE: LDOS)

Leidos is a major player in the national security arena, providing innovative solutions to the Department of Defense and intelligence agencies. Their work in artificial intelligence, machine learning, and big data analytics is transforming how these agencies operate and make critical decisions. 

Leidos is also a leader in the civil market, offering a wide range of services to government agencies and commercial customers in areas like transportation, energy, and healthcare. This diverse portfolio demonstrates their ability to adapt and innovate across sectors. 
By. Josh Owens

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**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. The forward-looking statements in this publication are based on current expectations and assumptions about future events, geopolitical developments, trade policies, market conditions, the company’s strategic initiatives to address the critical shortage of antimony, and current expectations, estimates, and projections about the industry and markets in which the company operates. Factors that could change or prevent these statements from coming to fruition include, but are not limited to, the potential impact of the upcoming U.S. elections on various industries and specific companies, changes in government policies, market conditions, regulatory developments, geopolitical events and the company’s ability to successfully acquire and develop new antimony resources and fluctuations in antimony prices. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

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The Fintech Latvia Association has launched the latest edition of its annual publication, Fintech Pulse 2024, unveiling insights and resources that position Latvia as a thriving hub for European fintech.

Announced at this year’s Fintech Forum, the magazine is now available in digital format, offering a comprehensive guide for fintech professionals and entrepreneurs navigating the Latvian market and exploring its advantages.

This issue covers essential topics, from support tools provided by Latvijas Banka and newcomer roadmaps to Riga’s investor resources and fintech education opportunities. Readers will find the latest fintech news from Latvia, coverage of this year’s key industry events, and member insights on the future of fintech. The Fintech Landscape section provides a comprehensive overview of the Latvian fintech ecosystem.

Tina Lūse, Managing Director of Fintech Latvia Association, expressed excitement about the ecosystem’s growth: “We are excited to unveil the third annual edition of Fintech Pulse. This year has been pivotal for our ecosystem, and together with public sector stakeholders, we are enhancing financial inclusion, democratizing investments, and driving innovation throughout the sector. This is a testament to Latvia’s emergence as a fintech hub, establishing itself as an equal partner in innovation and support within the Baltic region.”

Minister of Finance Arvils Ašeradens highlighted Latvia’s fintech potential in the magazine, stating: “Latvia has already made strides in adapting its regulatory framework to support a stable financial system. Now, we encourage financial market players to invest in modern technologies to meet the growing demand for inclusive financial services and solidify Latvia’s position in the fintech landscape. We are confident that with the combined offer of the government, Latvijas Banka and Riga city, we are a great place to start your next scalable European FinTech!”

Minister of Economics Viktors Valainis expressed Latvia’s ambition in the magazine, stating: “Latvia wants to become a WEB 3.0. innovation hub and solidify itself as one of the leaders of a newly regulated EU crypto-asset market. We welcome international companies to choose Latvia, a flexible and fast-paced country, where you can obtain a MICA license in just 3 months. Open your office in Latvia, receive a MICA license and serve the whole EU market!”

The Fintech Latvia Association brings together fintech and non-banking financial service providers to represent their interests at both the national and international levels. It promotes sustainable development in Latvia’s financial sector by fostering reliable, responsible, and long-term industry practices that earn trust from consumers and regulatory authorities. The association is committed to supporting innovation and growth opportunities within the fintech landscape.

The post Fintech Latvia Association Releases Fintech Pulse 2024: A Guide to Latvia’s Growing Fintech Hub appeared first on News, Events, Advertising Options.

COPENHAGEN, Denmark, Nov. 25, 2024 /PRNewswire/ — Novo Holdings today announced that it has agreed to acquire the Norwegian fish genetics company Benchmark Genetics from Benchmark Holdings plc for an enterprise value of up to £260 million.

Headquartered in Bergen, Norway, Benchmark Genetics is a leader in salmonid genetics, providing eggs and other genetic services to both traditional and land-based farmers, operating across Norway, Iceland & Faroe Islands, Chile, and other major geographies.

The Company’s core genetics offering drives resource-efficiency in fish and shrimp farming by addressing key production challenges including growth rates, feed conversion and disease resistance. By combining its long-established breeding programs and the latest genomic tools, Benchmark Genetics help aquaculture producers increase quality, yield, health, and animal welfare.

The Company has customers in more than 50 countries and employs 270 people globally.

The transaction is aligned with the Novo Holdings Planetary Health Investment team’s strategic focus on aquaculture technology to drive growth, innovation, and sustainability, complementing the recent investment in Stingray Marine Solutions.

Aleks Engel, Partner, Planetary Health Investments, Novo Holdings, said: “We are very pleased to announce plans to acquire the Benchmark Genetics business from Benchmark Holdings. Both animal and plant genetics hold immense potential to transform the global food industry, enabling more efficient and sustainable ways to feed a growing population. In particular, advancements in aquaculture genetics, such as those in the salmon industry, present significant opportunities to improve productivity, resilience, and environmental outcomes.”

Johan Hueffer, Senior Partner, Principal Investments, Novo Holdings, added: “The investment in Benchmark Genetics provides us with increased exposure to the salmon industry, which benefits from highly attractive underlying dynamics. Further it represents an opportunity to support a leading animal genetics platform with global ambitions. Partnering with an experienced management team, we are confident in the company’s ability to drive meaningful advancements in this field. At Novo Holdings we are excited to leverage our industry experience and extensive network to help realise the company’s full potential and contribute to sustainable growth in the aquaculture sector.”

Trond Williksen, CEO of Benchmark, continued: “I am very pleased to have signed an agreement to sell our Genetics business to Novo Holdings. Benchmark Genetics is a leading aquaculture genetics business with great potential and Novo Holdings is an excellent owner to take the business forward.”

Geir Olav Melingen, Head of Benchmark Genetics, concluded: “I am very excited about the future of our business. We have a great opportunity ahead and look forward to continuing our journey with Novo Holdings bringing solutions to the aquaculture industry to improve productivity, resilience and sustainability.”

Transaction highlights

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• Initial consideration of £230 million
• Additional contingent consideration of up to £30 million based on certain revenue thresholds
• Completion is expected during the first quarter of 2025 subject to shareholder approval and receipt of customary regulatory clearances
• Shareholders representing approximately 71% of the issued ordinary share capital of Benchmark have irrevocably agreed to vote in favour of the transaction

PJT Partners are acting as financial advisor to Novo Holdings. Latham & Watkins are acting as legal advisor to Novo Holdings.

About Benchmark

Benchmark is a leading aquaculture biotechnology company. Benchmark’s mission is to drive sustainability in aquaculture by delivering products and solutions in genetics, advanced nutrition and health which improve yield, growth and animal health and welfare.

Through a global footprint in 26 countries and a broad portfolio of products and solutions, Benchmark addresses many of the major aquaculture species in all the major aquaculture regions around the world.

www.benchmarkplc.com

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk 

About the Novo Nordisk Foundation

Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.

View original content:https://www.prnewswire.co.uk/news-releases/novo-holdings-to-acquire-benchmark-genetics-a-leader-in-aquaculture-genetics-302315282.html

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