KWG Resources Signs MOU with Maclaine Watson & Co to Seek Chrome Trading on the London Metal Exchange
KWG Resources (CSE: CACR) has signed a Memorandum of Understanding (MOU) with Maclaine Watson & Co, a British private investment and trading house, to explore the possibility of trading chromium on the London Metal Exchange (LME). The collaboration aims to reinstate Maclaine Watson's dealer seat on the LME and investigate the potential for chromium metal trading in the exchange's twice-daily ring auctions.
The partnership is strategically significant as chromium has been designated as a critical mineral by the USA. Maclaine Watson, founded in the early 19th century, was previously an LME ring-dealing member until 1985, with operations across London, Indonesia, and Singapore. While the MOU establishes no financial obligations between the parties, KWG views this relationship as important for developing a terminal market in chrome, a vital stainless steel-making commodity, potentially enhancing access to global markets and development capital hedging mechanisms for Canada.
KWG Resources (CSE: CACR) ha firmato un Memorandum d'Intesa (MOU) con Maclaine Watson & Co, una società britannica di investimento privato e trading, per esplorare la possibilità di negoziare il cromo sulla London Metal Exchange (LME). La collaborazione mira a reintegrare il ruolo di dealer di Maclaine Watson alla LME e a valutare il potenziale commercio di metallo cromo nelle aste a doppio turno giornaliere della borsa.
La partnership è strategicamente rilevante poiché il cromo è stato classificato come minerale critico dagli USA. Maclaine Watson, fondata all'inizio del XIX secolo, è stata membro dealer della LME fino al 1985, con attività a Londra, Indonesia e Singapore. Sebbene il MOU non implichi obblighi finanziari tra le parti, KWG considera questa collaborazione fondamentale per sviluppare un mercato terminale del cromo, una materia prima essenziale per la produzione di acciaio inossidabile, potenzialmente migliorando l'accesso ai mercati globali e ai meccanismi di copertura del capitale di sviluppo per il Canada.
KWG Resources (CSE: CACR) ha firmado un Memorando de Entendimiento (MOU) con Maclaine Watson & Co, una casa británica de inversión privada y comercio, para explorar la posibilidad de comerciar cromo en la London Metal Exchange (LME). La colaboración tiene como objetivo reinstaurar el asiento de operador de Maclaine Watson en la LME e investigar el potencial para el comercio de metal cromo en las subastas de anillo que se realizan dos veces al día en la bolsa.
La asociación es estratégicamente importante ya que el cromo ha sido designado como un mineral crítico por los EE.UU. Maclaine Watson, fundada a principios del siglo XIX, fue miembro operador del anillo de la LME hasta 1985, con operaciones en Londres, Indonesia y Singapur. Aunque el MOU no establece obligaciones financieras entre las partes, KWG considera esta relación crucial para desarrollar un mercado terminal para el cromo, una materia prima vital para la fabricación de acero inoxidable, lo que podría mejorar el acceso a los mercados globales y a mecanismos de cobertura de capital para el desarrollo en Canadá.
KWG Resources (CSE: CACR)는 영국의 민간 투자 및 무역 회사인 Maclaine Watson & Co와 양해각서(MOU)를 체결하여 런던 금속 거래소(LME)에서 크롬 거래 가능성을 모색하고 있습니다. 이번 협력은 Maclaine Watson의 LME 딜러 지위를 복원하고, 거래소에서 하루 두 차례 진행되는 링 경매에서 크롬 금속 거래 가능성을 조사하는 것을 목표로 합니다.
이 파트너십은 크롬이 미국에서 중요 광물로 지정된 만큼 전략적으로 매우 중요합니다. 19세기 초에 설립된 Maclaine Watson은 1985년까지 LME 링 딜러 멤버였으며, 런던, 인도네시아, 싱가포르에서 운영되었습니다. MOU는 양측 간 재정적 의무를 부과하지 않지만, KWG는 이 관계를 스테인리스강 제조에 필수적인 크롬의 터미널 시장 개발에 중요한 계기로 보고 있으며, 이는 캐나다의 글로벌 시장 접근성과 개발 자본 헤지 메커니즘을 향상시킬 수 있습니다.
KWG Resources (CSE : CACR) a signé un protocole d'accord (MOU) avec Maclaine Watson & Co, une maison britannique d'investissement privé et de trading, afin d'explorer la possibilité de négocier le chrome sur le London Metal Exchange (LME). Cette collaboration vise à rétablir le siège de négociant de Maclaine Watson à la LME et à étudier le potentiel de négociation du métal chrome lors des enchères en anneau deux fois par jour sur la bourse.
Ce partenariat est stratégiquement important puisque le chrome a été désigné comme un minéral critique par les États-Unis. Maclaine Watson, fondée au début du XIXe siècle, était membre négociant de la LME jusqu'en 1985, avec des opérations à Londres, en Indonésie et à Singapour. Bien que le MOU n'engage aucune obligation financière entre les parties, KWG considère cette relation comme essentielle pour développer un marché terminal du chrome, une matière première vitale pour la production d'acier inoxydable, ce qui pourrait améliorer l'accès aux marchés mondiaux et aux mécanismes de couverture du capital de développement pour le Canada.
KWG Resources (CSE: CACR) hat ein Memorandum of Understanding (MOU) mit Maclaine Watson & Co, einem britischen privaten Investment- und Handelsunternehmen, unterzeichnet, um die Möglichkeit des Handels mit Chrom an der London Metal Exchange (LME) zu prüfen. Die Zusammenarbeit zielt darauf ab, den Händlerplatz von Maclaine Watson an der LME wiederherzustellen und das Potenzial für den Chrommetallhandel bei den zweimal täglich stattfindenden Ringauktionen der Börse zu untersuchen.
Die Partnerschaft ist strategisch bedeutsam, da Chrom von den USA als kritisches Mineral eingestuft wurde. Maclaine Watson, gegründet Anfang des 19. Jahrhunderts, war bis 1985 Mitglied der LME-Ringhändler mit Niederlassungen in London, Indonesien und Singapur. Obwohl das MOU keine finanziellen Verpflichtungen zwischen den Parteien begründet, sieht KWG diese Beziehung als wichtig an, um einen Terminalmarkt für Chrom zu entwickeln, ein unverzichtbarer Rohstoff für die Edelstahlherstellung, der potenziell den Zugang zu globalen Märkten und Absicherungsmechanismen für Entwicklungskapital in Kanada verbessert.
- Strategic partnership with established metals trading firm
- Potential access to global markets through LME trading platform
- Enhanced trading opportunities for chrome as a US-designated critical mineral
- No binding financial commitments in the MOU
- Success depends on LME approval for chromium trading
- Uncertain timeline for implementation of trading activities
Toronto, Ontario--(Newsfile Corp. - April 17, 2025) - KWG Resources Inc. (CSE: CACR) (CSE: CACR.A), which carries on business as The Canadian Chrome Company ("CCC", "KWG" or the "Company") is pleased to announce it entered into a Memorandum of Understanding (MOU) yesterday with Maclaine Watson & Co, a British private investment and trading house. The MOU provides that the parties will collaborate to resume Maclaine Watson's seat as a dealer on the London Metal Exchange (LME). With chromium being designated by the USA as a critical mineral - the parties will investigate making application for chromium metal to be traded in the LME's twice-daily ring auctions.
Founded in the early 19th century, Maclaine Watson & Co. is a private investor and trader, and until 1985 was a ring-dealing member of the LME, with a legacy of trading in metals, sugar and rubber with operations in London, Indonesia and Singapore.
KWG considers the Maclaine Watson and LME relationship to be crucial to the development of a terminal market in the important chrome stainless steel-making commodity, for Canada, to provide development capital hedging mechanisms with much enhanced access to global markets. However, neither party to the MOU will have any financial obligation to the other.
About The Canadian Chrome Company:
KWG, which carries on business as The Canadian Chrome Company, is an exploration stage company that is focused on identification, acquisition, consolidation, exploration, development and evaluation of large-scale deposits of minerals including chromite, base metals and strategic minerals and, where applicable, in the development of transportation and electrification links to access remote areas where these deposits may be located. The Canadian Chrome Company is a registered business style of KWG Resources Inc.
In respect of chromite, KWG is the owner of
KWG also owns
KWG has also acquired intellectual property interests, including a lower cost and reduced carbon method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG subsidiary Muketi Metallurgical LP has acquired two chromite-refining patents in Canada and one in each of the USA, South Africa and Kazakhstan, and is prosecuting an application in Turkey.
For further information, please contact:
Bruce Hodgman, Vice-President: 416-642-3575 ~ info@canadachrome.com
Forward-Looking Statements: Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and KWG disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Disclaimer: Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248886
FAQ
What is the purpose of KWG Resources' MOU with Maclaine Watson regarding KWGBF stock?
How will the London Metal Exchange partnership affect KWGBF's chrome trading capabilities?
What is the significance of chromium being designated as a critical mineral for KWGBF?
Are there any financial obligations between KWGBF and Maclaine Watson in the MOU?
