The allocation of $500 million each to the coal-dependent countries will come in the form of “concessional,” or low cost, finance, the World Bank-affiliated fund said in a statement.

Most of the recent aluminum flowing into LME warehouses is not newly made, and produced in India or the Middle East.

Total expenses surged 43%, with power and fuel charges nearly doubling.

Sumitomo wants to start making materials for a cheaper type of battery -- containing no nickel -- that’s poised for global popularity after storming the world’s top EV market, China.

The South Korean company reiterated its target of tripling revenue in North America in five years, with the EV market there forecast to see compound annual growth rate of 33% by 2030.

Company also reiterated long-standing comments that does not need to buy a rival to grow, pointing to expansion plans in the United States and Asia.

The country has intensified its search for alternative energy sources, ranging from coal to renewables, to cut LNG imports.

ISS on Monday had recommended Turquoise Hill shareholders to vote "against" the deal, joining the Canadian miner's second-largest shareholder Pentwater Capital Management.