AM Edition: Top 10 Energy Articles on LiveNews.co.nz for April 2, 2026 – Full Text

Source: New Zealand Government

Fast-track approval has been granted for New Zealand’s largest wind farm project. 

Contact Energy lodged a substantive application for the Southland Windfarm in August 2025. The proposed wind farm will be developed across 58km² of privately owned land in eastern Southland, about 30km southeast of Gore.

“Approval has taken around 5 months following the commencement of an expert panel,” Mr Bishop says.  

“This project, with national benefits, will significantly increase the amount of power supplied to the national grid.

“The wind farm will generate up to 380 megawatts (MW) and provide power for up to 150,000 households and includes 55 wind turbines, each up to approximately 7MW in capacity.

Mr Jones said the project would inject $13.5 million into the local economy and create up to 300 jobs during construction. Once commissioned, it would employ about 10 to 14 full-time equivalent staff to operate the wind farm. 

“The real significance of this infrastructure lies in the ability to unlock further investment and attract new industry to the region. 

“The Fast Track process is about cutting through unnecessary delays to unlock the projects that matter. It gives regions the certainty and momentum they need to create jobs and drive long-term economic growth.” Mr Jones said.

Energy Minister Simon Watts says the project will make a significant contribution to New Zealand’s energy future.

“As New Zealand’s biggest windfarm to date, the Southland project will play an important part in achieving this Government’s vision of reliable, affordable and abundant energy supply for New Zealanders,” Mr Watts says.

“More generation in the system will help keep downward pressure on prices and shore up security of supply.”

“In addition to the turbines, a wind farm substation, and access roads, the project’s second major component involved grid connection work – including constructing the transmission lines needed to connect the wind farm to the Transpower National Grid,” Mr Bishop says. 

“It’s worth noting this project, in an earlier form, was previously declined resource consent after years of process, largely due to concerns about landscape and visual effects on the surrounding rural environment. 

“That is exactly the kind of outcome New Zealanders have been frustrated with, where projects of clear national benefit get tied up or turned down after long, uncertain processes. 

“Fast-track is changing that by providing a more balanced, timely, and effects-based pathway to get critical infrastructure like renewable energy projects built.”

For more information about the project: Southland Wind Farm 

Fast-track by the numbers: 
•    15 projects approved by expert panels. 
•    22 projects with expert panels appointed. 
•    43 projects currently progressing through the Fast-track process. 
•    39 projects have been referred to Fast-track by the Minister for Infrastructure. 
•    149 projects are listed in Schedule 2 of the Fast-track Approvals Act, meaning they can apply for Fast-track approval. 
•    On average, it has taken 128 working days for decisions on substantive applications from when officials determine an application is complete and in-scope. 
Fast-track projects approved by expert panels: 
•    Arataki [Housing/Land]  
•    Bledisloe North Wharf and Fergusson North Berth Extension [Infrastructure]  
•    Drury Metropolitan Centre – Consolidated Stages 1 and 2 [Housing/Land] 
•    Drury Quarry Expansion – Sutton Block [Mining/Quarrying] 
•    Green Steel [Infrastructure] 
•    Homestead Bay [Housing/Land] 
•    Kings Quarry Expansion – Stages 2 and 3 [Mining/Quarrying] 
•    Maitahi Village [Housing/Land] 
•    Milldale – Stages 4C and 10 to 13 [Housing/Land] 
•    Rangitoopuni [Housing/Land] 
•    Southland Wind Farm [Renewable energy]
•    Sunfield [Housing/Land] 
•    Tekapo Power Scheme – Applications for Replacement Resource Consents [Renewable energy] 
•    Takitimu North Link – Stage 2 [Infrastructure] 
•    Waihi North [Mining/Quarrying] 
 
Expert panels have been appointed for: 
•    Ashbourne 
•    Ayrburn Screen Hub  
•    Bendigo-Ophir Gold Project  
•    Bream Bay Sand Extraction Project
•    Central and Southern Block Mining Project
•    Delmore
•    Haldon Solar Farm 
•    Hananui Aquaculture Project 
•    Kaimai Hydro-Electric Power Scheme 
•    Lake Pūkaki Hydro Storage and Dam Resilience Works 
•    Mahinerangi Wind Farm 
•    North West Rapid Transit
•    Pound Road Industrial Development 
•    Ryans Road Industrial Development 
•    State Highway 1 North Canterbury – Woodend Bypass Project (Belfast to Pegasus)
•    Stella Passage Development
•    The Downtown Carpark Redevelopment – Te Pūmanawa o Tāmaki Haldon Solar Farm 
•    The Point Mission Bay 
•    The Point Solar Farm 
•    Waitaha Hydro 
•    Waitākere District Court – New Courthouse Project
•    Wellington International Airport Southern Seawall Renewal 

MIL OSI

Source: Radio New Zealand

The government will put more than $20 million towards additional diesel storage capacity at Marsden Point.

The arrangement – funded through the Regional Infrastructure Fund – will support 90 million litres of storage at the import and storage terminal by recommissioning storage tanks that have been unused since the closure of the refinery in 2022.

Associate Energy Minister Shane Jones said the tanks could hold around eight days’ supply, and refurbishment work was expected to begin within days.

“This is an ambitious but do-able project which will help ensure New Zealand is well-placed to weather the fuel supply issues New Zealand faces,” he said.

He had been assured by Channel Infrastructure, which owned and operated Marsden Point, that it could get the tanks ready within two months.

“While we are acutely aware of the importance of petrol and jet fuel, it is diesel that is the lifeblood of our economy. We know we have a secure supply until the end of May,” Jones said.

“If the opportunities arise for New Zealand to secure diesel supplies over and above what we are expecting, we need to be able to store it.”

RNZ reported last week that the government had received a proposal to boost storage at Marsden Point, with Jones wanting advice back as soon as possible.

At the time, Channel Infrastructure had told him there was potential to store 350 million litres of imported oil, on top of the 300 million litres of storage already in service.

The $21.6m support has been found through projects that had been approved in principle, but were not likely to go ahead.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: New Zealand Government

The Government will enter into an agreement to support an additional 90 million litres of storage for diesel at Marsden Point in Northland to boost New Zealand’s fuel resilience as the Middle East conflict continues to impact global fuel supplies, Regional Development and Associate Energy Minister Shane Jones says.

Senior Ministers yesterday signed off on up to $21.6 million from the Regional Infrastructure Fund (RIF) to Channel Infrastructure NZ Ltd.

“This financial arrangement will allow Channel Infrastructure, which owns and operates the former refinery site at Marsden Point, to increase its diesel storage by recommissioning storage tanks with a combined 90 million-litre capacity,” Mr Jones says.

“Channel Infrastructure has assured the Government it can do this within two months. This is an ambitious but do-able project which will help ensure New Zealand is well-placed to weather the fuel supply issues New Zealand faces.

“While we are acutely aware of the importance of petrol and jet fuel, it is diesel that is the lifeblood of our economy. We know we have a secure supply until the end of May. If the opportunities arise for New Zealand to secure diesel supplies over and above what we are expecting, we need to be able to store it.

“Storage of fuel supplies on a large scale is an issue, given much of what we had has been sitting idle at Marsden Point for a number of years,” Mr Jones says.

Work is expected to begin on the refurbishment of the tanks, which can hold about eight days’ supply, within days. The Government will be keeping a very close eye on progress to ensure it is ready to take diesel as quickly as possible.

The RIF financial support has been secured through funds tagged for projects that have been approved in principle but not likely to go ahead.

MIL OSI

Source: Radio New Zealand

Chris Penk and Penny Simmonds have been promoted to Cabinet, as the prime minister reshuffles his ministerial lineup.

The reshuffle also sees first-term MPs Cameron Brewer and Mike Butterick made ministers outside Cabinet.

The changes were necessitated by the upcoming retirement of Judith Collins, as well as Dr Shane Reti’s decision to stand down at the election.

Collins’ defence, space, and GCSB and NZSIS portfolios have been given to Penk, Paul Goldsmith takes on responsibility for the public service and digitising government, and Chris Bishop picks up the attorney-general role.

Bishop’s position as Leader of the House has been given to Louise Upston.

Bishop, who was also National’s campaign chair, was widely tipped to lose some ministerial portfolios to ease his workload to free him up for the campaign. Instead, it is the role of campaign chair that he has had to relinquish, to Simeon Brown.

Prime Minister Christopher Luxon said Bishop had a “massive workload” with housing, transport, infrastructure, RMA reform, and his new attorney-general role, and losing the campaign chair was a consequence of that.

Luxon said the two had a “very positive conversation” and he “absolutely” trusted Bishop.

“He’s key to our team, he’s a critical part of our senior leadership group,” he said.

Luxon denied it was anything to do with rumours Bishop was running the numbers against him last year.

“I think you’re really overthinking this,” Luxon said.

He said Brown was equally capable of chairing the campaign, as part of his “brains trust” which included Bishop, Upston, Goldsmith, and Finance Minister Nicola Willis.

Simmonds takes up Reti’s science, innovation, and technology portfolio, and his universities role has been disestablished to make Simmonds the minister for tertiary education.

She had previously been minister for vocational education, as well as environment. The latter has been given to Nicola Grigg, who remains outside Cabinet.

Goldsmith also becomes the new minister for Pacific Peoples, with Luxon admitting National did not have Pacific representation.

“I freely admit we don’t have a Pasifika person in our National Party team and in our Cabinet. That’s something that we’re working very hard on. As I’ve said to you before, we need to make sure we continue to work as we go to 2026 on the campaign on getting great candidates from the Pasifika world.”

Brewer, who has been chairing Parliament’s Finance and Expenditure Committee (a weighty role which often leads to a ministerial promotion) has been made minister of commerce and consumer affairs and minister for small business and manufacturing, while Butterick will become minister for land information.

Luxon said he wanted to make a “super small business minister” role by giving Brewer the two roles, while Butterick was a “natural leader” of National’s rural MPs.

Brewer would also take over supermarket reforms, as the previous Commerce and Consumer Affairs minister Scott Simpson had a conflict which had led to Willis taking responsibility.

Other changes include Brown picking up the energy portfolio from Simon Watts, who in turn takes over Brown’s minister for Auckland role.

Luxon said the past few weeks had underlined how important energy security was, and so was giving the role to a “senior” minister.

He said he had not lost confidence in Watts.

Luxon acknowledged Collins and Reti’s departures.

“New Zealand is better for Judith and Shane deciding to enter public service and I am grateful to count them both as friends. On behalf of the government and the National Party, I wish them all the best for their futures outside Parliament.”

Matt Doocey remains in Cabinet, and has not picked up any portfolios other than his existing mental health role.

He had been the sole South Island representative in Cabinet, but that has now doubled with Simmonds’ addition.

The changes come into effect on Tuesday, 7 April.

Luxon had not reshuffled his lineup since January 2025, other than to promote Scott Simpson to a role outside Cabinet following Andrew Bayly’s resignation.

The reshuffle applies to National Party ministers only, meaning ACT’s Brooke van Velden will continue in her portfolios despite her decision to retire from Parliament at the election.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Chris Penk and Penny Simmonds have been promoted to Cabinet, as the prime minister reshuffles his ministerial lineup.

The reshuffle also sees first-term MPs Cameron Brewer and Mike Butterick made ministers outside Cabinet.

The changes were necessitated by the upcoming retirement of Judith Collins, as well as Dr Shane Reti’s decision to stand down at the election.

Collins’ defence, space, and GCSB and NZSIS portfolios have been given to Penk, Paul Goldsmith takes on responsibility for the public service and digitising government, and Chris Bishop picks up the Attorney-General role.

Bishop’s position as Leader of the House has been given to Louise Upston.

Simmonds takes up Reti’s science, innovation, and technology portfolio, and his universities role has been disestablished to make Simmonds the minister for tertiary education.

She had previously been minister for vocational education, as well as environment. The latter has been given to Nicola Grigg, who remains outside Cabinet.

Brewer, who has been chairing Parliament’s Finance and Expenditure Committee (a weighty role which often leads to a ministerial promotion) has been made minister of commerce and consumer affairs and minister for small business and manufacturing, while Butterick will become minister for Land Information.

Other changes include Simeon Brown picking up the energy portfolio from Simon Watts, who in turn takes over Brown’s minister for Auckland role.

Prime minister Christopher Luxon said the past few weeks had underline how important energy security was, and so was giving the role to a “senior” minister.

Luxon acknowledged Collins and Reti’s departures.

“New Zealand is better for Judith and Shane deciding to enter public service and I am grateful to count them both as friends. On behalf of the government and the National Party, I wish them all the best for their futures outside Parliament.”

The changes come into effect on Tuesday, 7 April.

Luxon had not reshuffled his lineup since January 2025, other than to promote Scott Simpson to a role outside Cabinet following Andrew Bayly’s resignation.

The reshuffle applies to National Party ministers only, meaning ACT’s Brooke van Velden will continue in her portfolios despite her decision to retire from Parliament at the election.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: New Zealand Government

Prime Minister Christopher Luxon has announced a refreshed ministerial lineup to continue fixing the basics and protecting New Zealand’s future.

“New Zealanders are facing economic challenges brought on by conflict in the Middle East and its effect on fuel supply across the world,” says Christopher Luxon.

“Having a strong ministerial team with real-world experience to deliver our response is crucial. Today’s reshuffle reflects that and brings in new talent.

“Having successfully delivered significant reforms from outside Cabinet, Chris Penk will now join Cabinet, picking up the Defence, GCSB and NZSIS, and Space portfolios. Chris’ time in the NZDF leaves him well placed to lead the work our Government has done in raising the status and capability of our armed forces.

“Penny Simmonds also joins Cabinet with responsibility for Tertiary Education and Science, Innovation and Technology. Penny has successfully delivered reforms to the vocational education sector, also from outside Cabinet, and will bring her extensive governance experience to her new portfolios.

“The past few weeks have underlined how important energy security is and as such I will be elevating the Energy portfolio to senior minister Simeon Brown.

“Chris Bishop becomes Attorney-General and Paul Goldsmith takes responsibility for the Public Service and Digitising Government, and Pacific Peoples portfolios.

“Louise Upston will become Leader of the House and Simon Watts will be Minister for Auckland.

“Nicola Grigg becomes Minister for the Environment and Scott Simpson becomes Minister of Statistics and Deputy Leader of the House. 

“Joining as a Minister outside Cabinet, Cameron Brewer becomes Minister of Commerce and Consumer Affairs and Small Business and Manufacturing, and Associate Minister of Immigration. Mike Butterick becomes Minister for Land Information and Associate Minister of Agriculture.

“Finally, I acknowledge the public service of Judith Collins and Shane Reti who, between them, have dedicated almost 40 years to representing their communities in Parliament.

“Judith was first elected in 2002 and since then, has held numerous different ministerial portfolios and served as Leader of the Opposition. This term, she has delivered the Defence Capability Plan, advanced New Zealand’s space industry and modernised of our public service.

“In Shane’s 12 years in Parliament, he has served as Deputy Leader of the Opposition and has delivered key reforms as a minister, including improving the commerciality of our science sector to boost incomes and create jobs. He has also played a key role in projects that will benefit New Zealanders for generations, like the third medical school and expanded cancer screening.  

“I would also like to acknowledge the staff who have supported Judith and Shane throughout their time here.

“New Zealand is better for Judith and Shane deciding to enter public service and I am grateful to count them both as friends. On behalf of the Government and the National Party, I wish them all the best for their futures outside Parliament.”

These changes will come into effect on Tuesday 7 April.

MIL OSI

Source: Media Outreach

HONG KONG SAR – Media OutReach Newswire – 1 April 2026 – OceanX today announced A Shared Voyage: OceanX China 2026, a joint U.S-Chinese goodwill mission that will bring together 10 American and 10 Chinese early-career ocean scientists, students, and instructors in pursuit of their shared goal to better understand the ocean and each other. OceanX is the ocean exploration, science, and education initiative founded by Ray and Mark Dalio. This initiative will be the first voyage of OceanX’s flagship research and media vessel, OceanXplorer, to China, starting in Hong Kong on March 29 and concluding in Shanghai on April 8, 2026.

The mission is an extension of the 42-year relationship Ray Dalio has had with China and its people, and it is delivered in collaboration with the Chinese People’s Institute of Foreign Affairs (CPIFA), the Second Institute of Oceanography (SIO), and the China-U.S. Exchange Foundation (CUSEF). The mission’s goals are to promote high quality people-to-people exchanges between nations, advance ocean literacy and scientific understanding, and equip participants with the skills to communicate the importance of our shared ocean to broader audiences.

Expanding Access to Ocean Science and Education

The China 2026 program represents a milestone in OceanX’s global engagement efforts, creating new opportunities for students and researchers to access hands-on learning at sea. Participants from the United States and China will take part in a structured program designed to build practical knowledge, develop interpersonal connections, and strengthen individual capabilities in ocean science, operations, and communication.

“At this time of great conflict in the world, I believe more than ever in the power of people-to-people exchanges to create mutual understanding” said Ray Dalio, Founder of OceanX. “Understanding the ocean is a shared interest for both the U.S. and China—and for the scientists and students who are on this joint mission. It is a thrill to see them working together.”

Hands-On Learning Across Science, Operations, and Media

The program delivers a structured curriculum that combines lectures, workshops, and applied learning experiences across three focus areas:

• Marine Exploration: Ocean data collection methods, ecosystem observation, and introductions to oceanographic research tools
• Operations: Life aboard a research vessel, including equipment demonstrations such as ROV operations, water sampling, and microscopy
• Media & Communication: Science communication and media production training to support clearer public understanding of ocean issues

Participants will develop individual and small-group projects as part of the program, focused on applying knowledge gained throughout the voyage. They will also forge new connections and build mutual understanding with their peers.

“Understanding the ocean requires both scientific insight and the ability to communicate it clearly,” said Vincent Pieribone, Co-CEO and Chief Science Officer of OceanX. “This program is designed to give participants exposure to the tools, technologies, and storytelling approaches that are shaping how ocean science is conducted and shared.”

Inspiring the Next Generation of Ocean Leaders

By combining advanced marine technology, scientific research, and immersive storytelling, OceanX is working to broaden access to ocean discovery and inspire future generations to engage with ocean science.

“A Shared Voyage: OceanX China 2026 represents an important opportunity to support ocean education and public awareness,” said Ms. Lyu Tin, director of the Department of North American and Oceanian Affairs, Chinese People’s Institute of Foreign Affairs (CPIFA).

“This initiative highlights the importance of continued investment in ocean science education and capacity building,” said Prof. Huang Wei, Chinese Chief Scientist for the mission and research at Second Institute of Oceanography (SIO).

A Shared Voyage: OceanX China 2026 supports OceanX’s mission to unlock the ocean’s sustainable potential through science and education, while advancing ocean literacy and long-term stewardship.

Hashtag: #OceanX

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

MIL OSI

Source: Radio New Zealand

Wellington’s new Dorothy Spotswood Charity Hospital has found a home in a building on upper Cuba Street in the central city.

The Dorothy Spotswood Charity Hospital, for which the fit-out was being funded by Wellington philanthropist couple Dame Dorothy Spotswood and Sir Mark Dunajtschik, would provide surgical day services on a referral basis, mostly through GPs, for people who did not meet the criteria or faced long wait times to be seen in the public system and could not afford private treatment.

The property at 275 Cuba Street was recently purchased by local investor Mike McCombie, and the charity hospital board signed the lease just this week, with the hospital itself set to occupy its ground floor.

Hospital trust chair Dr Graham Sharpe said finding a suitable premises had been a five-year mission.

Of the three buildings they had scoped, two had turned out to be unsuitable, and the land under the third had been sold mid-process, Sharpe said, throwing their plans into disarray.

Finding a building with ample ceiling height, and which could draw the electricity required for all the medical equipment, had also been tricky.

The Cuba Street site had location on its side, near the public hospital and the main highway, which would make life easier for staff coming in from the Hutt – as would the more than 40 carparks underneath.

The fitout was set to cost $10-13 million, and running costs would be around $1.5m a year, Sharpe said.

It would be funded entirely by charitable donations, he said, and a number of philanthropic groups had already expressed an interest.

“We’ve had some very generous support from professionals, such as architects, planners and builders, many of whom have offered their services free or at a significantly reduced rate because they share our vision.”

Vito Lo Iacono, the hospital’s chief executive, explained they were leasing 900 square-metres of the 1100-square-metre floorplan, with other tenants able to lease the other floors.

The building was undergoing earthquake strengthening – set to finish in June this year – and in years to come, the hospital could consider expanding outwards and upwards within it, he said.

Right now, the space was cold and dark, the ceiling a jumble of dangling extractor tubes and wiring above a dusty concrete floor.

But Sharpe said it would soon be transformed into a reception and staff areas, two operating theatres, a recovery area catering for up to six patients, and consulting rooms.

It would only be performing day surgeries, no overnight stays, and would not be taking any patients under 18.

The concept was based on the success of the Canterbury Charity Hospital, and a similar one in Southland, with medical professionals offering their services for free around their paid schedules across the public and private sectors.

“Last time we checked, we had 42 specialist surgeons and anaesthetists willing to work for us for free,” Sharpe said.

The aim was to open next February, starting with one operating theatre for the first six months until systems were in place, Sharpe said.

At first, they would take on procedures like endoscopies and colonoscopies, before moving into eye surgery like cataracts.

The sorts of things he expected they would be doing long term were surgeries for hernias, varicose veins and cataracts.

“These sort of day-case, relatively straightforward, quick things are the very things that get dropped when there’s a problem at the hospital. Emergencies come in, or there’s illness in the staff … these sort of things just fall off the list,” Sharpe said.

“They’re not life-saving, but they are life-affirming and life-changing.”

General surgeon Dr James Tietjens, a member of the hospital’s board and among those doctors planning to volunteer their time, said he and other doctors were seeing increasing unmet need in the system.

“This is a way to try and give access to certain populations that can’t access secondary care, or even primary care at times,” he said.

“People that may meet a hospital waitlist, or meet the criteria and aren’t being seen in a timely manner, or are declined. But there’s also a large proportion of people who aren’t able to access GP care, or GPs aren’t able to get their patients into hospital.”

He expected to see a number of people with hernias and other minor surgeries through the door.

Signing the lease and locking in a location was “a big step”, he said.

“We’re very grateful for all the support we’ve had to date.”

Wellington mayor Andrew Little said signing the lease was “a fantastic step forward for the hospital and I’m delighted to see this progress”.

“Dame Dorothy and Sir Mark have been incredibly generous in their support of health in the Wellington region. Wellingtonians will be hugely grateful to Dame Dorothy and Sir Mark for backing this valuable contribution for the health of our people.

“Initiatives like this take extraordinary efforts, I commend everyone who has played a part in this great outcome.”

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: GlobeNewswire (MIL-NZ-AU)

NEW YORK, April 01, 2026 (GLOBE NEWSWIRE) — Hall Chadwick Acquisition Corp. (Nasdaq: HCACU) (“HCAC”) and REEcycle Holdings, Inc. (“REEcycle”) today announced the execution of a non-binding Letter of Intent (“LOI”) for a proposed de-SPAC business combination.

The proposed transaction values REEcycle at approximately US$600 million, assuming no redemptions by HCAC public shareholders, with REEcycle existing shareholders expected to roll 100% of their equity into the combined publicly listed entity. The transaction is expected to include a minimum US$50 million PIPE financing at US$10.00 per share, providing committed capital at closing and supporting the execution of REEcycle’s near-term growth strategy.

The transaction comes at a pivotal time for U.S. critical minerals policy. China currently controls an estimated 90% of rare earth separation and processing and ~93% of permanent magnet manufacturing globally.¹ In response, the U.S. Government, through Department of Defense and Department of Energy initiatives, has committed billions of dollars to strengthening domestic critical mineral supply chains, including rare earth processing.² REEcycle has been awarded and is drawing upon US$5.1 million of Defense Production Act funding, supporting the advancement of its domestic rare earth processing capabilities.

REEcycle is advancing a technology-led solution to rare earth supply constraints. Its proprietary recycling process extracts and separates rare earth elements from end-of-life electronics and industrial products, offering a faster, lower-capex and scalable alternative to traditional mining. This approach enables near-term domestic supply while reducing exposure to geopolitical disruption.

The global rare earth market was valued at approximately US$19 billion in 2025 and is projected to reach ~US$36.7 billion by 2034, with recycling expected to grow at an accelerated rate as demand for domestically sourced materials increases.³

REEcycle’s Executive Chairman and largest shareholder is Mick McMullen, a highly respected mining executive with over 30 years of leadership experience across global mining and capital markets. He is best known for his tenure as President and CEO of Detour Gold Corporation, where he grew the company’s market capitalisation from C$2.1 billion to C$4.9 billion in nine months, culminating in its acquisition by Kirkland Lake Gold.⁴ His investment in REEcycle reflects strong conviction in recycling-led onshoring.

“We are addressing a critical U.S. supply gap with a faster and more capital-efficient solution than traditional mining, scalable across the U.S. and globally. This is both a technology opportunity and a national security priority.”

— Mick McMullen, Executive Chairman, REEcycle Holdings

Hall Chadwick Acquisition Corp. raised US$207 million in its Nasdaq IPO in November 2025 and is focused on transactions in critical minerals and industrial technology sectors.

“REEcycle represents a rare combination of proprietary technology, experienced leadership, and direct alignment with U.S. critical minerals strategy. We see this as a platform capable of becoming a meaningful domestic supplier, and we are excited to bring that opportunity to public investors.”

— Alex Bono, CEO, Hall Chadwick Acquisition Corp.

Exclusivity

The parties have agreed to a 60-day exclusivity period to undertake due diligence and negotiate a definitive Business Combination Agreement.

Non-Binding Letter of Intent

The LOI is non-binding and subject to the execution of definitive agreements, completion of due diligence, required approvals, and customary closing conditions. There can be no assurance that a transaction will be completed.

Important Information

This press release contains forward-looking statements regarding the proposed business combination, including expected structure, financing, timing and benefits. These statements involve risks and uncertainties that could cause actual results to differ materially, including the ability to execute definitive agreements, obtain approvals, satisfy closing conditions and maintain listing status. This press release does not constitute an offer or solicitation of securities. In connection with the proposed transaction, HCAC intends to file a registration statement on Form S-4 with the SEC. Investors are urged to review these materials when available at www.sec.gov. No obligation is undertaken to update forward-looking statements except as required by law.

1 CSIS, “China Rare Earth Restrictions,” 2025.
2 U.S. State Dept., “Critical Minerals Fact Sheet,” 2026.
3 Grand Research Store, “Rare Earth Market Report,” 2025
4 Globe and Mail, “Kirkland–Detour Gold deal,” 2019; Business Wire, “Kirkland Lake Gold acquisition,” 2019.

– Published by The MIL Network