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NOBLE Group is reorganising its activities for the rare earth and special ores and metals markets under two wholly owned subsidiaries, Kalon Resources and Talaxis, as it seeks to capture growth opportunities from these markets.
Kalon will focus on special ores and metals - largely chrome, manganese, tin and tungsten ores - upstream and downstream operations, it said in a release to the Singapore Exchange on Wednesday.
Meanwhile, Talaxis will focus globally on cobalt, lithium and rare earths resources. In addition, Talaxis will be involved in the research and development of industrial applications.
Noble said: "While both entities will benefit from having independent management teams, they will also continue to have access to the full suite of Noble Group's operational capabilities. Operating through these two distinct, wholly owned subsidiaries also enhances the range of growth options that will be open to us as the businesses develop."
For rare earths and special ores & metals, its upstream origination currently spans Jamaica, Malawi, Mongolia, Russia, Rwanda and South Africa, while its downstream distribution network extends to Canada, China, Malaysia, Thailand, USA and Europe.
A Noble Group spokesman said: "As it stands, consumers of speciality metals and rare earth elements globally are often dependent today on the supply chains that have low resiliency. These two entities build on our track record of successfully creating new industrial supply streams that can support market participants' needs, who are seeking alternative and more diverse sourcing solutions as a pre-requisite for their future development."