Business news
Mercuria Signs Memorandum of Understanding to Support Minnesota’s Mesabi Metallics
12.09.2018
Global Energy and Commodities Group Targets Expansion in U.S. and Long-Term Job Creation
Transaction To Strengthen $650 Million Financing Package for Completion of Heartland Iron Ore Project
GENEVA, September 12, 2018 - Mercuria Energy, one of the world's largest independent energy and commodities groups, signed a Memorandum of Understanding (MOU) today with Chippewa Capital Partners, LLC (CCP) that envisages Mercuria backing the re-emergence of iron ore producer, Mesabi Metallics Company LLC (Mesabi Metallics), which is currently 100 percent owned by CCP. The investment is intended to support the creation of new long-term jobs in America’s heartland and the century-old iron ore mining district, the Mesabi Range in Minnesota.
The transaction would allow Mercuria to acquire a majority stake in the iron ore producer, which boasts a 7mtpa mine-to-plant pelletization project (the Mesabi Project). Mesabi Metallics has met every key milestone that led to the reinstatement of all its mineral lease rights as confirmed by the Department of Natural Resources (DNR) on July 11, 2018.
Mercuria’s backing and investment into Mesabi Metallics is expected to lead to an acceleration of the engineering, procurement and construction of the Mesabi Project.
“Today’s announcement is part of Mercuria’s ambition to further expand and invest in the United States, playing a greater role in increasing American production capacity, and indirectly supporting the strategic steel sector, which is resurging as the US economy is showing even more robust growth,” said Mercuria CEO Marco Dunand. “This investment can directly support job creation and economic growth in Nashwauk, Itasca County and Minnesota’s Iron Range. Pursuant to this investment, Mercuria plans to employ the highly-skilled workforce in Minnesota, as we do elsewhere in America and internationally in all the ventures that Mercuria operates and bring more efficiency to markets and create reliable alternative physical supply solutions to clients. These, along with the healthy business environment, are the key principles that support the growth of our footprint in the United States.”
“Specifically, the Mesabi investment demonstrates our confidence that – with greater financial strength and stability – Mesabi Metallics can re-emerge as a significant player in the North American pellet and value-added product market segment.”
Mercuria plans to complete its investment into Mesabi upon closing of the acquisition in Q4 2018.
Latest news
- Mercuria Energy Leads the Way in Voluntary Carbon Credit Sales with Tocantins, Brazil05.06.2023
- Minerva Bunkering Launches Service in the Suez Canal and Egyptian Ports31.05.2023
- Acquisition of additional shares of Nevada Copper Corp. by Mercuria31.05.2023
- Mercuria Announces the Acquisition of Nottingham-Based Roadgas28.04.2023
- Komgo Named Digital Agent On First Borrowing Base In Asia28.04.2023
- Mercuria creates a nature-based investment platform20.03.2023
- ClearFlame Engine Technologies Raises $30 Million In Series B Funding09.03.2023
2022 archive
- ACQUISITION OF ADDITIONAL SHARES OF NEVADA COPPER CORP. BY MERCURIA30.12.2022
- Mercuria successfully closes oversubscribed secured revolving credit facility of US$ 3,400,000,000 in financing for its North American business12.12.2022
- Mercuria Signs Asia $1.393 Billion USD Revolving Credit Facilities29.11.2022
- Chevron to acquire full ownership of Beyond6 CNG fueling network17.11.2022
- Mercuria Invests in Natron Energy’s Sodium-Ion Battery Technology14.11.2022
- Jervois is undertaking a US$150 million equity capital raising in which Mercuria will invest US$10.5 million.09.11.2022
- REEtec raises EUR 115 million for first industrial rare earth plant08.11.2022
- The Mobility House secures EUR 50 million to expand market position in the field of smart charging and Vehicle-to-Grid (V2G)03.11.2022
- Acquisition of additional shares and warrants of Nevada Copper Corp. by Mercuria31.10.2022
- Mercuria Asia Group Holdings (PTE.) LTD Signs New JPY 70.5 billion Facility03.10.2022
- Mercuria Energy Trading SA successfully closes USD 2,177,500,000 multi-currency revolving credit facilities24.06.2022
- ADP Clear Pte Ltd Brings Digital Bunkering to Singapore28.04.2022
- Validere Raises $43MM to Scale Its All-in-One Commodity Management Platform16.03.2022
- VoLo Earth, Frankstahl, Mercuria, and Clean Energy Ventures headline investment in a company disrupting the electric vehicle and critical mineral supply chain16.02.2022
- From the lab to the road: ClearFlame Engine Technologies announces first heavy-duty truck driving on 100% plant-based fuel11.02.2022
- Compute North Closes $385 Million in Strategic Funding for TIER 0™ Computing Infrastructure09.02.2022
- PIN OAK HIRES KEITH CASEY AS CEO, ANNOUNCES NEW EXECUTIVE LEADERSHIP TEAM01.02.2022
2021 archive
- Minerva Bunkering Launches New Service in the Red Sea Ports of Yanbu and Jeddah22.12.2021
- Mercuria Signs Asia $1.3 Billion USD Revolving Credit Facilities10.12.2021
- Mercuria successfully closes oversubscribed secured revolving credit facility of US$ 2,200,000,000 in financing for its North American business06.12.2021
- ACQUISITION OF SHARES AND WARRANTS OF NEVADA COPPER CORP. BY MERCURIA 29.11.2021
- Ecoslops announces strategic partnership with Mercuria Energy Group19.10.2021
- Mercuria and CWP Join Forces to build 2GW of renewables in Southeast Europe12.10.2021
- Lilac Solutions Announces $150 Million Series B to Scale Lithium Supply for the Electric Vehicle Era24.09.2021
- Chevron, Mercuria announce CNG fueling network joint venture10.09.2021
- Mercuria's investment accelerates growth of ChargeNet’s New Zealand EV charging network02.09.2021
- Pin Oak Commissions Interconnections with EPIC, Cactus II, and Flint Hills Adding Permian & Eagle Ford Capacity at Taft Terminal27.08.2021
- Mercuria Closes Oversubscribed US$ 2,100,000,000 Revolving Credit Facilities 24.06.2021
- Mercuria Invests in the Future of Technology Metals23.04.2021
- Mercuria and N+P Announce Partnership for Development of New Alternative Fuels 21.04.2021
- Mercuria Invests in Aggregation Technology for Electric Vehicles30.03.2021
- Minerva Bunkering Introduces Carbon Neutral Marine Fuel Offering11.03.2021
- Mercuria Purchases First Carbon Credits for the RGGI Compliance Market08.03.2021
- Mercuria Joins Global Business Leaders to Support ESG Convergence by Committing to Stakeholder Capitalism Metrics27.01.2021
- HC2 Completes Sale of Beyond6 Clean Energy Business to Mercuria19.01.2021
2020 archive
- HC2 Announces Sale of Beyond6 Clean Energy Business for Approximately $169 Million31.12.2020
- Broad Reach Power Acquires Montana Wind and Solar Projects17.12.2020
- Mercuria Closes Oversubscribed Secured Revolving Credit Facility of US$ 1,700,000,000 in Financing for its North American Business24.11.2020
- Mercuria Closes Oversubscribed Revolving Credit Facility of US$ 720,000,000 In Financing for its Asian Business 24.11.2020
- Broad Reach Power Acquires 25-Megawatt/100-Megawatt-Hour Battery Storage Project in California 23.11.2020
- Minerva Bunkering Introduces the Advanced Delivery Platform (ADP)23.11.2020
- Mercuria Asia Group Holdings (PTE.) LTD Signs New JPY 55.5 billion Facility14.09.2020
- Mercuria Closes Oversubscribed US$ 1,500,000,000 Revolving Credit Facility25.06.2020
- Singapore’s Maritime and Port Authority Awards Minerva New Bunkering Licenses21.04.2020
2019 archive
- Minerva Bunkering Acquires CEPSA Panama SA17.12.2019
- Mercuria successfully closes oversubscribed revolving credit facility of US$ 1,200,000,000 in financing for its Asian business25.11.2019
- Mercuria successfully closes oversubscribed secured revolving credit facility of US$ 1,900,000,000 in financing for its North American business20.11.2019
- Pin Oak Secures Interconnection to EPIC and Red Oak Pipelines Commences Construction on a New Crude Oil Hub at Taft01.08.2019
- MERCURIA ENERGY TRADING SA SUCCESSFULLY CLOSES USD 2.25 BILLION MULTI-CURRENCY REVOLVING CREDIT FACILITIES19.06.2019
- Top Commodities Firms and Financial Institutions Seek To Launch Forcefield17.05.2019
- Minerva Bunkering Appoints Tyler Baron as Chief Executive Officer 30.04.2019
- Aegean Marine Petroleum Network Inc. Reorganizes as Minerva Bunkering04.04.2019
- U.S. Bankruptcy Court Approves Mercuria Takeover of Aegean Marine Petroleum 01.04.2019
- Mercuria Partnership Pin Oak Acquires Expansion Land in Corpus Christi15.01.2019
2018 archive
- Mercuria successfully closes oversubscribed revolving credit facility of Us$ 1,350,000,000 in financing for its Asian business 27.11.2018
- Canyon Coal, Mercuria Energy Open New Mine in South Africa, Expand Employment Opportunities in the Energy Sector 02.11.2018
- Pin Oak Corpus Christi, LLC Hires Strike, LLC to Construct Pipeline Connectivity28.09.2018
- Pin Oak Holdings, LLC to Sell Mt. Airy Terminal to MPLX LP26.09.2018
- Mercuria Signs Memorandum of Understanding to Support Minnesota’s Mesabi Metallics12.09.2018
- Mercuria Energy Trading SA successfully closes USD 2.4 Billion Multi-Currency revolving credit facilities29.06.2018
- Mercuria Founders Discuss American Job Creation and Investment with U.S. Ambassador to Switzerland Ed McMullen26.04.2018
- ChemChina and Mercuria Expand Partnership and Increase Investment16.04.2018
- Mercuria Completes Purchase of Noble Americas South Bend Ethanol, Changes Name to South Bend Ethanol, Will Invest $30 Million to Realize the Full Plant Capacity and Support the Local Community10.01.2018
2017 archive
- Mercuria Signs USD 1 Billion in Financing for its Asian Business30.11.2017
- Mercuria, Can-China Global Resource Fund, and MIE Holdings Announce Completion of Acquisition of CQ Energy Canada Partnership – A Canadian E&P Business04.10.2017
- Pin Oak Terminals Opens Multi-Product Liquid Marine Terminal, Following Key Investment from Mercuria16.08.2017
- Mercuria and Andes Energia Partner on Argentina E&P to Create Phoenix Global Resources10.08.2017
- Andes Energia PLC announces conditional combination with Trefoil Holdings, holding company of PETSA24.07.2017
- Mercuria Energy Trading SA successfully closes USD 2.0 Billion Multi-Currency Revolving Credit Facilities19.06.2017
- Centrica agrees the sale of its Canadian E&P business to Mercuria and Can-China09.06.2017
- Mercuria worked with two key financing partners, ING & SMBC, on Pin Oak Terminals financing project in U.S.25.04.2017
- Compelling results for blockchain oil-trade test ING, Société Générale, and Mercuria22.02.2017
- TRANSGLOBE ENERGY CORPORATION announces execution of prepayment agreement and marketing contract10.02.2017
2016 archive
- Pin Oak Holdings announces it has closed on a $100 million equity investment led by Dauphine Midstream and Mercuria Energy05.12.2016
- Mercuria Exports U.S. Energy to New Markets26.09.2016
- Mercuria Energy Trading SA successfully closed a USD 2.2 Billion Multi-Currency Revolving Credit Facility10.06.2016
- Mercuria to provide direct and sponsored access liquidity to Nasdaq Commodities European Power and Gas Markets11.05.2016
- Mercuria Energy Acquires Rocky Mountain Crude Business Unit from Enterprise Crude Oil LLC17.02.2016
- Mercuria welcomes Strategic Investment by ChemChina18.01.2016
- Minerva Bunkers starts physical supply operations offshore West Africa07.01.2016
- Mercuria Announces Strategic Investment from China Materials Storage and Transportation Development (CMSTD) to Expand Henry Bath Warehousing Business05.01.2016
2015 archive
- Mercuria Signs Asia USD 1.1 billion Revolving Credit Facilities 19.11.2015
- Mercuria Energy Group Ltd Announces Exclusive Agreement with Forte Oil Plc09.10.2015
- Mercuria Energy Closes Multicurrency Revolving Credit Facilities at USD 2.5 Billion22.06.2015
- Mercuria trades the first lots of German base load on CME Europe18.06.2015
- CITI fails in China metals claim against MERCURIA22.05.2015
- Mercuria Announces Expansion to Minerva Maritime Fuel Business12.03.2015
2014 archive
- Mercuria Hires More Than 40 Marine Fuel Specialists from OW Bunker15.12.2014
- Mercuria Signs Asia $1.0 Billion USD Revolving Credit Facilities18.11.2014
- Mercuria Closes Acquisition of J.P. Morgan Chase Physical Commodities Business03.10.2014
- Mercuria Announces U.K. Financial Conduct Authority Authorization22.09.2014
- Mercuria forms partnership with Pemex08.08.2014
- MERCURIA ENERGY TRADING SA successfully renewed and increased a USD 2.65 BILLION Multi-Currency Revolving Credit Facility26.06.2014
- Mercuria Announces Acquisition of J.P. Morgan Physical Commodities Business19.03.2014
2013 archive
- Mercuria Signs its Asian USD 1.0 Billion Revolving Credit Facilities28.11.2013
- Mercuria CFO's interview with EuroTreasurer - "We Have Seen a Flight to Quality"29.10.2013
- Mercuria CFO im FINANCE MAGAZINE - Interview09.10.2013
- Mercuria Invests $50m in Amromco Energy24.09.2013
- Mercuria successfully raises USD 1,800,000,000 Revolving Credit Facility02.07.2013
- Success of the Second FT Global Commodities Summit29.04.2013
- Mercuria Interview with Le Temps27.04.2013
- Mercuria Participates in a Pioneer CDM Project in West Africa26.03.2013
- Mercuria Partners with KW Express to Construct Crude by Rail Project in Houston22.02.2013
2012 archive
- FT Global Commodities Summit 201320.11.2012
- Mercuria Announces a New USD 700,000,000 Uncommitted Secured Borrowing Base Financing30.10.2012
- Mercuria Advances Asian Hard Commodities Strategy18.10.2012
- Mercuria and Sinopec Kantos Establish a New International Partnership in Liquid Bulk Storage15.10.2012
- Mercuria Strengthens its Growing Presence in China 18.07.2012
- Mercuria Grows its Global Metals Trading Business17.07.2012
- Mercuria Energy Successfully Raises USD 1,700,000,000 and EUR 145,000,00001.06.2012
- Mercuria Advances into Global Metals Markets03.05.2012
- Certified Emission Reductions: Mercuria Participated in Record Transaction19.04.2012
- Mercuria sponsors the first Financial Times Global Commodities Summit15.03.2012
- Mercuria interview with Reuters01.02.2012
- Mercuria Sponsors the First Financial Times Global Commodities Summit16.01.2012
2011 archive
- Mercuria Energy Group Ltd Signs a USD 755 Million Syndicated Revolving Credit Facility in Asia07.12.2011
- Mercuria US Coal Financing and Investment06.10.2011
- Formation of a Joint Venture by Mercuria and Datang24.08.2011
- Mercuria Energy Group, Anchor Investor in IFC's Now Active Carbon Credit Fund03.06.2011
- Mercuria to Participate in IFC's Carbon Credit Fund02.02.2011
2010 archive
- Mercuria Signs a USD 500 Million Syndicated Revolving Credit Facility in Asia15.12.2010
- Mercuria Energy Group Acquires Strategic Coal Concession in Indonesia16.11.2010
- Mercuria Enters Into a Strategic Coal Marketing Alliance with Optimum Coal of South Africa03.11.2010
- Mercuria Energy Group Makes Strategic Carbon Business Acquisition03.11.2010
- Strong Demand Leads Mercuria Energy Trading to Increase its New Revolving Credit Facility to USD 1,250,000,00014.06.2010
- Mercuria's Dutch Affiliate Laid The Foundation Stone For Vesta Biofuels Amsterdam05.03.2010
- Mercuria Seeks Oil Tanks, Coal Mines in US Drive03.03.2010
- ECT Arbitration Mercuria Energy Group LTD V. The Republic of Poland: The Arbitral Tribunal Confirms That It Has Jurisdiction26.01.2010
