The Metals Co has exploration licenses for parts of the Pacific Ocean seabed, where it hopes to mine for cobalt, nickel, and other battery metals.

Some of the biggest mining companies are expanding into or eying commodities tied to the green revolution.

The new offer values Millennial almost 7% higher at C$377 million.

Shanghai's stainless steel contract, closely watched by Chinese nickel players, hit its own life-of-contract high last month.

Environment officials and campaigners have called for a global moratorium on deep-sea mining and on issuing new exploration contracts unless marine ecosystems can be effectively protected.

The facility, to be built in Tuscaloosa, aims to tap into an increased focus from EV and cathode manufacturers across the US Southeast.

The 135-member “Albemarle Salar” union, which the company said comprises about half the workers at its Salar plant, went on strike in August.

The plant in Pomalaa, in Southeast Sulawesi province, is expected to produce 40,000 tonnes of mixed sulphide precipitate.