Global warming has raised the economic status and political importance of critical minerals, but with that also comes an increased risk of resource nationalism across the globe.

The resurrection of the former Ford plant represents the grand industrial ambitions of President Luiz Inácio Lula da Silva.

The graphite producer also said it was targeting readiness for a final investment decision on the expansion of the vertically integrated Vidalia facility's production capacity.

At its own mines, Glencore said profit was hurt by lower prices for coal and cobalt in particular.

Data from the US Geological Survey suggests global copper reserves will fall short by 80%, global nickel reserves by 90%, and cobalt by around 96%.

The US is 100% reliant on imports for at least 12 key minerals deemed critical by the government.

Cobalt prices are down more than 50% from October, due to weak demand and growing supplies from Indonesia.