Tausi Insider

A Stellantis company building in Velizy-Villacoublay, France, on Feb. 1. GONZALO FUENTES/Reuters The bankruptcy of Stellantis’ Jeep joint venture in China could spell trouble for other global automakers whose output has plunged over the last five years in the world’s largest car market, as domestic players rapidly overtake. The first joint venture failure by a foreign brand in the electric vehicle (EV) era, the Oct. 31 bankruptcy filing marks a turning point in that Chinese car makers are beginning to surpass the long-dominant international brands in giving consumers what they want. “I do not expect Stellantis to be an isolated case,” said Marco Santino, a partner at management consultants Oliver Wyman. “Probably almost all of the western car makers will have to review the industrial logic of their presence in China.” A spokesman for Stellantis STLA-N said Jeep would operate through an “asset light” strategy in China, importing vehicles via a distribution model that is profitable for...

Barrick Gold Corp. ABX-T has signed joint venture agreements with Saudi Arabian mining company Ma’aden for two prospective exploration projects in Saudi Arabia. Terms of the agreements that will grow the company’s copper base in the country were not immediately available. The Toronto-based miner says the deal expands its partnership with Ma’aden and opens up potential co-operation with the neighbouring Jabal Sayid copper mine, which is a 50-50 joint venture between the two companies. Barrick says the new deals include the Jabal Sayid South and Umm Ad Damar license areas. Barrick CEO Mark Bristow says Barrick is committed to broadening its partnership with Ma’aden in the region. Barrick says copper production at Jabal Sayid increased from 110 million pounds in 2018 to 152 million pounds per year in 2021 as a result of improved mining performance and process plant optimization. https://www.tausiinsider.com/barrick-gold-signs-joint-venture-deals-for-two-projects-with-saudi-company/...