Market News Roundup: Downgrades, Steel Deals, and Battery Summits Market News Roundup: Downgrades, Steel Deals, and Battery Summits

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By Ronald Tech

Top Stories for Jan. 29, 2024:

1. TD Cowen downgraded Piedmont Lithium Inc. PLL from Outperform to Market Perform.

2. President Joe Biden’s economic advisors signaled a commitment to protecting union jobs and U.S. steel manufacturing, implying that U.S. Steel Corporation X would need to increase its support for organized labor for its $14.1 billion deal with Nippon Steel Corporation to be finalized.

On a related note, former Louisiana Attorney General Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC are investigating the proposed sale of United States Steel.

Under the terms of the transaction, U.S. Steel shareholders will receive $55 in cash per share, and the investigation will determine whether that deal is adequate or undervalues the company.

3. United States Antimony Corporation UAMY appointed Jeffrey Fink as its Vice President and General Manager of its Bear River Zeolite mining operation.

Chairman of the Board Gary C. Evans said, “Management and the Board of Directors at UAMY completed an exhaustive search over the last several months for a new general manager of our Bear River Zeolite mining operation located in Preston, Idaho. We believe this property has significant potential for increased production volumes.”

“We are very pleased to announce today that this mission has been accomplished with the hiring of Jeffrey (Jeff) Fink as our new Vice President and General Manager of BRZ…Based upon his past experience, his energetic enthusiasm, his passion for safety and profit-minded drive for continuous process manufacturing, we are anticipating substantial improvements (including product supply for our customers) at BRZ under his watch,” he added.

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4. American Battery Technology Company ABAT will participate in the Bloomberg New Energy Finance Summit in San Francisco from Jan. 30 to Jan. 31.

CEO Ryan Melsert will join a “Can Battery Recycling Solve Supply Chain Challenges” panel to discuss industry challenges, including the domestic scaling of battery recycling capacity.

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