Benzinga - by Austin DeNoce, Benzinga Staff Writer.
Top Stories for April 4, 2024:
Ferrous sales dropped 15% quarter-over-quarter, nonferrous sales fell 3% but grew 7% year-over-year and finished steel sales rose 5% year-over-year but fell 11% quarter-over-quarter.
The company initiated a plan to cut SG&A by 10% and improve production efficiency, aiming for $40 million in annual benefits and adding to a prior $30 million benefits plan.
CEO Ryan Melsert mentioned extensive engagement with major automotive and battery manufacturers and plans for this new facility to increase domestic critical battery mineral manufacturing, leveraging the new government-supported investment.
Also Read: Gold Fields Celebrates First Gold Pour At Salares Norte, Boosts Chilean Production Outlook
The sale is targeting qualified institutional buyers and non-U.S. persons.
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