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Tronox Signs Cooperation Agreement with JXAM for $32M Investment

Tronox Holdings (TROX) announced the signing of a cooperation and investment agreement with JX Advanced Metals Corporation (JXAMY) to advance the development of its rare earth and critical minerals business to support growing demand for these minerals in semiconductor, advanced electronics, robotics, automotive, defense, and other high-technology applications. Under the signed agreement, Tronox and JXAM will fund on a 50/50 basis approximately $32M to support a definitive feasibility study for Tronox's previously announced proposed rare earth cracking and leaching facility in Australia and a pre-feasibility study for a proposed rare earth oxide refinery in the United States and development of a US-based pilot facility capable of producing initial quantities of high-purity rare earth oxides. Tronox and JXAM anticipate that the joint investment in feasibility work for the Cracking Plant and Refinery will demonstrate the technical, economic, environmental, and commercial viability of establishing an integrated rare earth processing and refining platform. The agreement also contemplates joint development of other critical minerals and materials from Tronox's mineral resources, including niobium, scandium, zirconium, and hafnium, all of which are critical to the economic and national security of the United States and Japan. The joint cooperation and investment agreement with JXAM represents a key milestone for Tronox in the development of its rare earth supply chain that could enable significant value creation. The agreement reflects the shared commitment of Tronox and JXAM to establish new capabilities across the critical mineral value chain while supporting the economic security and industrial competitiveness objectives of the United States, Australia, and Japan, including the Pax Silica Initiative. The Companies plan to locate the Cracking Plant in the Rockingham Industrial Zone in Western Australia, approximately three kilometers south of Tronox's Kwinana TiO2 pigment plant, enabling shared services and other resources that can be leveraged due to Tronox's extensive footprint and infrastructure in Australia, where it employs more than 1,200 people at its existing operations. The Companies currently expect to locate the Refinery on Tronox-owned land adjacent to its existing Hamilton, Mississippi TiO2 pigment facility, where it employs more than 400 people. The site has access to abundant and low-cost power, existing utilities, reagents, and substantial infrastructure that Tronox expects would provide meaningfully lower refining costs versus a typical new entrant. Together, as currently contemplated, the two sites would aim to produce up to 10,000 tonnes per annum of total rare earth oxides. Tronox's mines have an attractive mineralogy mix of light and heavy rare earth refinery feedstock, including neodymium and praseodymium, dysprosium and terbium, samarium, gadolinium, and yttrium.

Major Averages Rise as Oil Prices Fall

The major averages closed broadly higher as oil prices fell and investors digested softer-than-feared inflation data and another slate of corporate earnings reports.The Fed outlook has become somewhat more favorable for equities following the inflation data and the weak July employment report. Meanwhile, oil prices were down as concerns over global demand and rising U.S. crude inventories offset continued geopolitical risks surrounding Iran and the Strait of Hormuz.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Ciscoreportedand provided an upbeat outlook for Q1 and FY27Cerebras Systemsreportedbut raised its FY26 revenue guidancePershing Squarereported Netflixand VisaamongTapestryreported, provided its outlook for Q1 and FY27, and approved a 16% dividend increaseSilver Lake is in talks to acquire Workday,2. WALL STREET CALLS:Five Belowto Buy at JefferiesStubHubto Underperform at BofAVail Resortswith a Sell at Goldman SachsJPMorganAkamaito Neutral on revenue growth rampTronoxto Underweight at JPMorgan3. AROUND THE WEB:AMDis planning its largest-ever investment-grade bond offering of up to $5B across four maturities, Bloomberg reportsAlphabetchief scientist Demis Hassabis discussed forming an independent AI safety entity before stepping down as Google DeepMind CEO, WSJ saysFordplans to shift production of some China-built Lincoln models to the U.S. starting in 2030, driven primarily by tariffs, including a 52.5% duty on the China-made Nautilus, and the goal of strengthening domestic manufacturing, Reuters reportsBending Spoons'acquisition strategy is driving strong financial results and aggressive software monetization, but steep price increases for legacy customers risk accelerating churn and undermining the long-term value of its acquired businesses, Bloomberg saysAppleis in talks with publishers over new deals to use their content to deliver current news and information as part of the iPhone maker's efforts to improve its AI-powered Siri voice assistant, WSJ reports4. MOVERS:Accelerantgained after announcingin an all-cash deal worth more than $4B and reporting Q2 resultsSanDiskrose afterfor the years 2028 through 2030 at its investor day meetingOmerosand CorMedixwere higher afterCellebritefell afterand cutting its guidance for FY26Securitizeand Resideowere lower after5. EARNINGS/GUIDANCE:Yetiand raised its outlook for FY26Paysafe, with CEO Bruce Lowthers commenting on "strong traction across our priority markets and products"Cellebrite, provided guidance for Q3, and cut its outlook for FY26Ondas, provided guidance for Q3, and cut its outlook for FY26Yeswayand increased its outlook for FY26INDEXES:The Dow rose 69.72, or 0.13%, to 53,839.99, the Nasdaq gained 214.54, or 0.81%, to 26,803.03, and the S&P 500 advanced 50.49, or 0.65%, to 7,798.99.

Major Averages Rise as Oil Prices Fall

The major averages were broadly higher again near noon as oil prices fell and investors digested softer-than-feared inflation data and another slate of corporate earnings reports.The Fed outlook has become somewhat more favorable for equities following the inflation data and the weak July employment report. Markets are now pricing roughly a 66% probability that the Fed holds rates steady at its next meeting, according to Reuters.Meanwhile, oil prices are down a bit as concerns over global demand and rising U.S. crude inventories offset continued geopolitical risks surrounding Iran and the Strait of Hormuz.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Ciscoreportedand provided an upbeat outlook for Q1 and FY27Cerebras Systemsreported mixed Q2 results butPershing Squarereported Netflixand VisaTapestryreported, provided its outlook for Q1 and FY27, and approved a 16% dividend increaseJD.comreported better-than-expected2. WALL STREET CALLS:Five Belowto Buy at JefferiesStubHubto Underperform at BofAVail Resortswith a Sell at Goldman SachsJPMorganAkamaito Neutral on revenue growth rampTronoxto Underweight at JPMorgan3. AROUND THE WEB:Former Alibabastar researcher Junyang Lin is launching Shanghai-based Pragmatik Labs to build digital and physical AI agents, The Information reportsAlphabetchief scientist Demis Hassabis discussed forming an independent AI safety entity before stepping down as Google DeepMind CEO, WSJ saysFordplans to shift production of some China-built Lincoln models to the U.S. starting in 2030, driven primarily by tariffs, including a 52.5% duty on the China-made Nautilus, and the goal of strengthening domestic manufacturing, Reuters reportsBending Spoons'acquisition strategy is driving strong financial results and aggressive software monetization, but steep price increases for legacy customers risk accelerating churn and undermining the long-term value of its acquired businesses, Bloomberg saysAppleis in talks with publishers over new deals to use their content to deliver current news and information as part of the iPhone maker's efforts to improve its AI-powered Siri voice assistant, WSJ reports4. MOVERS:Accelerantgains after announcing it will bein an all-cash deal worth more than $4B and reporting Q2 resultsBirkenstockrises in New York afterand raising its guidance for FY26Omerosand CorMedixhigher afterCellebritefalls afterand cutting its guidance for FY26Securitizeand Resideolower after5. EARNINGS/GUIDANCE:Yetiand raised its outlook for FY26Paysafe, with CEO Bruce Lowthers commenting on "strong traction across our priority markets and products"Cellebrite, provided guidance for Q3, and cut its outlook for FY26Ondas (ONDS), provided guidance for Q3, and cut its outlook for FY26Yeswayand increased its outlook for FY26INDEXES:Near midday, the Dow was down 65.19, or 0.12%, to 53,705.08, the Nasdaq was up 150.61, or 0.57%, to 26,739.10, and the S&P 500 was up 33.77, or 0.44%, to 7,782.27.