(Editors at Energy Analytics Institute, 15.Jan.2025) — Energy briefs as well as others related to finance, economics, politics, and projects during Jan. 2025 including Venezuela Edmundo González Urrutia planning to tour Argentina, Uruguay, Panama, the US, and the Dominican Republic before his proposed return to Venezuela on or before 10 Jan. 2025; Cuitláhuac García Jiménez, an engineer, university professor and former governor of Veracruz state assumed the role as general director of the National Center for Natural Gas Control (CENAGAS); GFL Environmental Inc. entering into a definitive agreement for the sale of its Environmental Services business for an enterprise value of $8bn.; JinkoSolar Holding Co., Ltd. achieving a significant breakthrough in the development of its N-type TOPCon-based perovskite tandem solar cell; and more.
LATIN AMERICA AND THE CARIBBEAN
Argentina
— Argentina’s president Javier Milei received the 2025 Genesis Prize Laureate, the first time the award, known as “The Jewish Nobel Prize,” has been bestowed upon a head of state. The Genesis Prize Foundation said on 14 Jan. 2025 that Milei was the unanimous choice of the 9 judges on the committee.
— The Neuquén Provincial Energy Entity (EPEN) requested communities and cities in the province to rational energy usage, especially given the high temperatures expected for the weekend. EPEN, in a stmt on 11 Jan. 2025, suggested energy consumers collaborate to rational their use of energy in a move to reduce demand as temperatures in the province are expected to be higher than usual.
Brazil
— Brava Energia rec’d proposals from cos. interested in acquiring assets from the co.’s onshore and shallow water portfolio. The co. will analyze the proposals within its corporate governance flow and will keep its investors and the mkt in general duly informed, in line w/ the best corporate governance practices and in compliance with the legislation in force, Brava announced 10 Jan. 2025 in an official stmt.
— G Mining (GMIN) achieved a number of key milestones its 100% owned Tocantinzinho Gold Mine in the State of Pará, Brazil, and the Oko West Gold Project in Guyana. GMIN reported gold (“Au”) production of 40,147 ounces (“oz”) during the 4Q:24, and full-year 2024 gold production since first pour of 63,566 oz. Gold sold during the 4Q:24 was 39,938 oz resulting in full-year 2024 gold sales of 57,082 oz. The difference between gold sold versus produced was due to the timing of pours at year end and gold in circuit, GMIN said 8 Jan. 2025 in an official stmt.
Colombia
— Collective Mining Ltd. revealed final assay results from the 2024 drill program at the Trap and Plutus targets. At the Trap target, drilling has confirmed and expanded the high-grade area northwards within the Trap Main Zone (TMZ) and has discovered a new high-grade vein system in the south of the target area. At the Plutus target, reconnaissance drilling continued to cut shallow levels of a mineralized porphyry system, Collective Mining said 9 Jan. 2025 in an official stmt. Trap and Plutus are located within the co.’s multi-target Guayabales Project in Caldas, Colombia. Collective, currently has 5 drill rigs operating as part of its fully funded 60,000m drill program for 2025. 2 add’l rigs have been contracted w/ drilling anticipated to ensue in late-Jan. 2025 and late-Feb. 2025, respectively.
Guyana
— Guyana and the US Export-Import (EXIM) Bank inked a $527mn loan to further support the gas-to-energy project. The signing took place at the project’s site at Wales, West Bank Demerara, DPI reported 10 Jan. 2025 in a stmt on its website.
Mexico
— Cuitláhuac García Jiménez, an engineer, university professor and former governor of Veracruz state assumed the role as general director of the National Center for Natural Gas Control (CENAGAS) on 6 Jan. 2025, Mexico’s President Claudia Sheinbaum said the same day during her mañanera or daily briefing w/ the media.
Venezuela
— Venezuelan opposition leader María Corina Machado called for street marches across the OPEC country on 9 Jan. 2024, the day before the presidential inauguration occurs. The marches are planned to be peaceful and “to demand our sovereign will be respected,” Machado said in 7 Jan. 2025 in a post on X, formerly Twitter.
— While celebrating 3 Kings Day (Día de los Reyes) in Venezuela on 6 Jan. 2025, the country’s president Nicolás Maduro said he would never surrender to the far right and vowed to continue fighting to maintain and grow the OPEC country’s economy despite sanctions imposed on it by Washington.
— W/ the assistance of Spain, Edmundo González Urrutia is planning to tour Argentina, Uruguay, Panama, the US, and the Dominican Republic before his proposed return to Venezuela on or before 10 Jan. 2025 when plans to take over as president of the OPEC country, Colombian new agency RCN reported 3 Jan. 2025 in a TV broadcast. This, as Venezuela’s national police Scientific, Penal, and Criminal Investigative Corps (Cicpc) has offered a compensation of $100,000 for information about the location of González.
UK
London
— Drilling Tools International Corp. announced the successful completion of its previously announced acquisition of Titan Tools Services Ltd., a UK-based downhole tool rental co. The transaction finalized on 2 Jan. 2025 and marks a significant milestone in DTI’s global growth strategy, the co. announced 2 Jan. 2025 in an official stmt. As previously reported on 31 Oct. 2024, this acquisition enhances DTI’s product offerings and strengthens its presence in the North Sea, European, and African markets. Titan, established in 2009 and based in Aberdeen, Scotland, specializes in renting, servicing, and manufacturing advanced drilling equipment for the oil, gas, and geothermal industries.
NORTH AMERICA
Canada
— Trilogy Metals Inc. reported positive results of its preliminary economic assessment study for the Bornite copper project in the Ambler Mining District of Northwestern Alaska. The project is held by Ambler Metals LLC, the JV operating co. equally owned by Trilogy Metals and South32 Limited. The Bornite PEA was prepared on a 100% ownership basis, of which Trilogy Metals’ shr is 50%, Trilogy said 15 Jan. 2025 in an official stmt.
— Canadian Solar opened its new global headquarters in Ontario, Canada. Founded in 2001 by Dr. Shawn Qu in Guelph, Canadian Solar now has around 20,000 employees and operations in 20+ countries worldwide, the co said 15 Jan. 2025 in an official stmt.
— IsoEnergy Ltd. and Purepoint Uranium Group Inc. jointed said IsoEnergy has exercised its put option under the terms of their JV announced on 19 Dec. 2024. W/ this strengthened partnership, both cos. are now strategically positioned to collaboratively advance the exploration, IsoEnergy said 15 Jan. 2025 in an official stmt. The exercise of the put option establishes a balanced 50/50 ownership structure for the JV, w/ Purepoint acquiring 10% of IsoEnergy’s JV interest in exchange for 4mn shrs, enhancing IsoEnergy’s exposure to Purepoint’s diverse portfolio and partnerships of 10 highly prospective uranium projects spanning over 98,000 hectares in the eastern Athabasca Basin, renowned as one of the world’s most prolific uranium districts.
— Westbridge Renewable Energy Corp. granted stock options to acquire 930,000 common shrs of the co. to mgmt and directors of the co on 14 Jan. 2025. The options are exercisable at a price of $0.85/shr common and vest 1yr from the date of grant, Westbridge said 15 Jan. 2025 in an official stmt. The co also granted restricted stock units and performance stock units representing the right to rec. up to an aggregate 3,720,000 common shrs to mgmt and co. directors, subject to the satisfaction of certain vesting conditions.
— Luca Mining Corporation said 500,000 incentive stock options have been granted to the co.’s recently hired Chief Technology Officer. These options are exercisable at a price of $0.58/shr and expire 5yrs from the date of their issuance, Luca said 14 Jan. 2025 in an official stmt. A second tranche of 100,000 options, exercisable at $0.58/shr has been granted to 1 other eligible person in accordance w/ Luca’s omnibus equity incentive plan. These options are exercisable over a period of 2yrs, the co. said.
— Defense Metals Corp. will issue 491,807 shrs of common stock to certain holders of secured convertible notes in full satisfaction of the interest payable thereunder as of 11 Jan. 2025 in the aggregate amount of C$100,821.92. The notes mature on 11 Oct. 2025, Defense Metals announced 13 Jan. 2025 in an official stmt.
— GFL Environmental Inc. entered into a definitive agreement w/ funds managed by affiliates of Apollo and BC Partners for the sale of its Environmental Services business for an enterprise value of $8bn. GFL will retain a $1.7bn equity interest in the Environmental Services business and expects to realize cash proceeds from the transaction of $6.2bn net of the retained equity and taxes, GFL announced 7 Jan. 2025 in an official stmt. GFL intends to use up to $3.75bn of the net proceeds from the Transaction to repay debt, making available up to $2.25bn for the repurchase of GFL shares, subject to mkt conditions, and the balance for transaction fees and general corporate purposes. Net leverage, pro forma for the planned use of proceeds, is expected to be 3.0x. Per the agreement terms, GFL will retain a 44% equity interest in the Environmental Services business and the Apollo Funds and BC Funds will each hold a 28% equity interest. The transaction is expected to close in the 1Q:25 and is subject to certain customary closing conditions. The transaction is not subject to any financing conditions.
— The BODs of GFL Environmental Inc. declared a cash dividend of $0.014 for each outstanding subordinate voting share and multiple voting share of the co. for the 4Q:24. The dividend will be paid on 31 Jan. 2025 to shareholders of record at the close of business on 13 Jan., GFL said 2 Jan. in an official stmt. GFL has designated this dividend as an eligible dividend within the meaning of the Income Tax Act (Canada).
— On 31 Dec. 2024, one of Luca Mining Corp‘s insiders, Calu Opportunity Fund LP, sold an aggregate of 5,699,975 common shrs of Luca. The common shrs were sold on the open mkt through the facilities of the TSX Venture Exchange at an avg price of $0.62 per common shr for an aggregate gross amount of $3,533,984, Luca announced 2 Jan. 2025 in an official stmt. Calu intends to use $2,000,000 of the sales proceeds to exercise a total of 4,000,000 warrants at an exercise price of $0.50/warrant.
US
— Mojave Energy Systems has expanded into the LatAm mkt to meet the growing need for energy-efficient, high-performing, affordable HVAC solutions in the region. To support the geographic expansion, Mojave has hired Mateo Cardona as a regional sales manager based in Miami. Initially, Mojave will concentrate on countries w/ standard electrical frequency of 60 hertz (Hz) across Central America and the Caribbean, the co. said 15 Jan. 2025 in an official stmt.
— Since late 13 Jan. 2025, Colonial Pipeline has shuttered the main artery moving gasoline from the US Gulf Coast to the East Coast in Paulding County, Georgia, Reuters reported 14 jan. 2025. Line 1 was temporarily shut as operator Colonial Pipeline responds to a potential gasoline release, Reuters said, citing a spokesperson w/ the pipeline co. Crews were reportedly on scene in Paulding, Georgia, to coordinate response efforts.
— Hyundai Motor America appointed Claudia Márquez as COO. In her new role, Márquez will lead Hyundai’s US business operations and direct the co.’s customer-focused growth strategies. Márquez will report to the CEO of Hyundai and Genesis Motor North America, Randy Parker, Hyundia said 14 Jan. 2025 in an official stmt.
— Pelican Energy Partners will acquire Albuquerque, New Mexico-based Lancs Industries, a provider of radiation containment and shielding solutions to the US Department of Energy nuclear waste remediation, commercial nuclear power, US Navy, National Laboratory, and pharmaceutical sectors, Pelican announced 13 Jan. 2025 in an official stmt. Financial details were not revealed.
— Venture Metals+, involved in sustainable metal recycling solutions, announced that 1 of its affiliates acquired Thalheimer Brothers LLC and Mega Metals LLC. Both acquired cos. specialize in the processing of non-ferrous metal within the utilities, aerospace, construction and general industrial mkts, Venture Metals+ announced 13 Jan. 2025 in an official stmt. Venture Metals+ is a portfolio co. of Mill Rock Capital. Terms of the transaction were not disclosed.
— Roadrunner announced a general rate increase (GRI) of 6.9%, effective 15 Jan. 2025. This increase applies to rates set up under the existing RDFS 501 tariff, which was implemented on 29 Nov. 2021, the co. announced 13 Jan. 2025 in an official stmt.
— Sempra and Sempra Foundation announced up to $1mn in charitable contributions to support those impacted by the California wildfires. Sempra Foundation, founded and solely funded by Sempra, announced up to $750,000 in charitable contributions, while Sempra also announced up to $250,000 of shareholder contributions to further support those impacted, the co. said 10 Jan. 2025 in an official stmt.
— Advanced Power closed a $100mn corporate credit facility to further its corporate goals and vision of advancing a sustainable, reliable energy future, the co. announced 9 Jan. 2025 in an official stmt. Advanced Power is a developer, manager, and owner of diverse utility-scale energy-infrastructure assets, including renewables, battery energy storage systems (BESS), high-efficiency combined-cycle natural gas turbine (CCGT) facilities and modern peaker units.
— Letscoin (LTSC), an emerging complementary cryptocurrency, gaining wide adoption globally, started 2025 in spectacular fashion by securing a staggering 3 billion metric tonnes of approved carbon credits for use on the voluntary offset mkt. The carbon offsets produced by Bluegrace Energy Bolivia CDM are aligned w/ Chapter 6 of the Paris Agreement 2015 and are fully verified, LTSC said 9 Jan. 2025 in an official stmt.
— New Gold Inc. reported 4Q:24 consolidated production was 80,438 ounces of gold and 14.5mn pounds of copper, representing the highest gold and copper production qtr of 2024, resulting in a 2% and 20% increase over the prior-year period, and 3% and 15% increase over the 3Q:24, respectively. In 2024, consolidated gold production of 298,303 ounces of gold was slightly below the updated consolidated guidance range of 300,000 to 310,000 ounces, while 54mn pounds of copper achieved the midpoint of initial copper production guidance range outlined at the start of 2024, New Gold announced 9 Jan. 2025 in an official stmt. Consolidated all-in sustaining costs are expected to be at the low end of the guidance range of $1,240 to $1,340 per gold ounce sold on a by-product basis, the co. said.
— Nucor Corporation‘s Towers & Structures business unit will build its 3rd state-of-the-art utility structures production facility in Brigham City, Utah. Nucor is currently completing the construction of 2 utility structures production facilities in Decatur, Alabama, and Crawfordsville, Indiana. The new $200mn Utah facility will be located on Nucor’s existing Brigham City campus and is expected to create 200 full-time jobs, the co. said 9 Jan. 2025 in an official stmt.
— Egis will serve as the independent engineer for the Purple Line LRT project in Maryland, 1 of the largest rail P3 projects ever delivered in the US. They will act as a reviewer for both the Concessionaire (Purple Line Transit Partners) and the owner (Maryland Department of Transportation/ Maryland Transit Administration), Egis announced 9 Jan. 2025 in an official stmt.
— Endries International Inc. will open a new, state-of-the-art distribution center in Fort Worth, Texas. This expansion will double current capacity, increasing footage to 65,000 sq ft, and reinforces Endries’ commitment to providing world-class service to our customers across the region, the co. said 8 Jan. 2025 in an official stmt.
— HF Sinclair Corporation commenced a cash tender offer to acquire some outstanding notes for an aggregate purchase price (excluding accrued interest) of up to $900mn, the co. announced 8 Jan. 2025 in an official stmt.
— US president-elect Donald Trump said 7 Jan. 2024 in a social media post that he would rename the Gulf of Mexico the Gulf of America. This, as Trump has recently suggested the US should take Greenland and the Panama Canal while threatening to impose tariffs on main trade partners Mexico and Canada.
— Total-Western announced the addition of Jay Choate as Large Projects Operations Director, a significant milestone in the co.’s continued growth and commitment to excellence in large project delivery, Total-Western announced 7 Jan. 2025 in an official stmt.
— Saber Power Services, LLC achieved Platinum in the Associated Builders and Contractors’ STEP Safety Management System. The STEP system provides the framework to measure, strengthen and build industry-leading safety programs that enable top-performing ABC members to achieve incident rates nearly 6x safer than the US Bureau of Labor Statistics construction industry average. STEP participants measure their safety processes and policies on key components through a detailed questionnaire with the goal of implementing or enhancing health and safety programs that reduce jobsite incidents, Saber said 7 Jan. 2025 in an official stmt.
— Talos Energy Inc. reiterated its 2024 full year production guidance issued on 11 Nov. 2024. The co. continues to expect avg production of 91,000–94,000 boe/d, the co. said 6 Jan. 2024 in an official stmt.
— ONEOK, Inc. said 6 Jan. 2025 in an official stmt. that Randy N. Lentz, CEO and founder of Medallion Midstream, is assuming the newly created position of EVP and COO. Lentz is responsible for all of ONEOK’s asset operations. Also, Sheridan C. Swords, previously EVP, commercial liquids and natural gas gathering and processing, is assuming the newly created position of EVP and CCO. In addition to his previous responsibilities, Swords now also oversees the Natural Gas Pipelines segment. Both appointments are effective immediately, ONEOK said.
— Argent Trust Company, as Trustee of the Sabine Royalty Trust, declared a cash distribution to the holders of its units of beneficial interest of $0.448330/unit, payable on 29 Jan. 2025, to unit holders of record on 15 Jan. 2025. This distribution reflects primarily the oil production for Oct. 2024 and the gas production for Sep. 2024, which is considered current production, Sabine said 3 Jan. 2025 in an official stmt. Preliminary production volumes are 76,247 bbls of oil and 1,617,815 Mcf of gas. Preliminary prices are $67.70/bbl and $1.61/Mcf.
ASIA
China
— JinkoSolar Holding Co., Ltd. achieved a significant breakthrough in the development of its N-type TOPCon-based perovskite tandem solar cell. Independently tested by the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences, the cell achieved a conversion efficiency of 33.84%, surpassing JinkoSolar’s previous record of 33.24%. This achievement marks the 27th time JinkoSolar has set a world record for efficiency and power output for PV products, JinkoSolar said 6 Jan. 2025 in an official stmt.
EUROPE
Spain
— Pan Global Resources Inc. announced details of the 2025 exploration programs at the co.’s 100%-owned Escacena and Cármenes projects in Spain. Extensive field exploration over the past yr identified multiple drill targets at both the flagship Escacena in Andalucia and the highly prospective Cármenes north of León in northern Spain. The 2025 drilling campaign has already commenced and is ramping up to 3 drill rigs, including drilling of 5 new previously untested targets at Escacena and 2 anomalies at Cármenes. The campaign also aims to further delineate the extent of the La Romana deposit ahead of a maiden mineral resource estimate. This drill program will be completed by mid-2025, Pan Global announced 14 Jan. 2025 in an official stmt.
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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
