Metals & Mining
Concentrate,cathode,oxide,magnet:weownthetransfersinbetween
Non-ferrous metals, battery units and the rare-earth chain that every electrified supply chain depends on and almost nobody is willing to underwrite. We take the assay risk, the freight risk and the credit risk.
- 6
- Metal books
- In-house
- Assay protocol
- Mine→magnet
- Chain traced
The books
Thedesks,andwhatweactuallysign
Form, pricing basis, assay protocol and delivery terms – the four lines that decide whether a metals trade makes money or makes a dispute.
CU
Copper & Concentrates
Grade A cathode into European wire rod and tube mills, plus concentrate cargoes placed against smelter capacity where treatment terms actually clear.
- Product form
- Cathode (LME Grade A), blister, concentrate 22–28% Cu
- Pricing basis
- LME cash settlement plus premium; TC/RC on concentrate
- Quality & assay
- Independent assay, umpire clause, moisture and penalty elements (As, Bi, Sb)
- Delivery terms
- CIF Rotterdam / Antwerp, DAP mill, FCA warehouse
- LME warrant and off-warrant inventory financed on our balance sheet
- Concentrate blending to smelter penalty limits
- Back-to-back hedging on LME with daily mark-to-market
- Container and breakbulk logistics with cargo insurance in place
Critical metals
Fromrocktomagnet
Separation capacity is concentrated in a single jurisdiction. Every stage of the alternative chain needs a buyer willing to commit before the plant exists. That is the trade.
Mine & concentrate
Bastnäsite and monazite feed from Africa, Brazil, Australia and Scandinavia, upgraded to 45–60% REO concentrate at site.
Crack & leach
Concentrate converted to mixed rare-earth carbonate – the point at which radionuclides are cleared and the cargo becomes shippable.
Separate
Solvent extraction into individual oxides. Ninety percent of the world's capacity sits in one country; funding the alternative is the trade.
Metal & alloy
Oxide reduced to metal and strip-cast into NdFeB alloy for the magnet plant, with purity certified at each transfer.
Magnet & recycle
Sintered magnet into motors, turbines and defence systems – and swarf and end-of-life units routed back into the same chain.
Market view
Thecurveswepriceagainst
LME copper
10,690.31USD/t
- 90d high
- 10690.31
- 90d low
- 9403.78
- Session
- +0.26%
Indicative curves for illustration – not an offer, quote or benchmark
Risk & governance
Wheremetalstradesgowrong
Assay is the contract
Weight, moisture and grade decide who was right. Independent sampling at load and discharge, umpire assay named up front, penalty elements priced before the vessel is fixed.
Basis risk is not price risk
LME flat price is the easy part. Premium, payability, treatment charges and freight are each carried as their own position, with their own limit.
Origin that survives an audit
Mine-to-mill chain of custody, conflict-minerals screening and sanctions clearance filed before the first payment leaves. Critical metals attract scrutiny; we invite it.
Why us
Units,notnarratives
Critical-metals markets are full of announcements. We contract tonnes, pay against documents, and take the position on our own balance sheet. If a chain cannot be documented from mine to oxide, we do not trade it – and we say so early.
Mine to magnet
Wherethetonnechangeshands
At the mine gate
At the mine gate
At the mine gate
Offtake and prepayment agreed with the operator, with assay protocol and stressed pricing fixed before a single tonne moves.
Concentrate on the water
Concentrate on the water
Bagged or bulk concentrate shipped under our own logistics, sampled at load and discharge by an umpire we both accept.
Separation and oxide
Separation and oxide
The rare-earth chain documented step by step – nobody signs a magnet contract on a chain that cannot be traced.
Metal against credit
Metal against credit
Warehouse receipt, insurance and title move together, so our capital and the metal are never in different places.