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Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
 The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation facilities, such as copper, nickel, cobalt and lithium, Fitch Ratings says. This will require a vast supply response in the next two decades and investments from miners, although we view the repositioning of their businesses towards a higher share of energy-transition metals in revenue and cash flows as credit positive.
EVs and renewable generation are more metal-intensive than fossil fuel-based alternatives. This will support metals demand as the world transitions towards a carbon-free economy, leading to a six-fold increase in demand for minerals by 2050 compared to current levels, according to the International Energy Agency (IEA). Growth rates for each metal will vary and will depend on technologies chosen for batteries and power generation and environmental policies. We anticipate demand for energy-transition metals to peak by the 2040s, when the bulk of low-emission infrastructure will have been built.
However, rapid demand growth may not necessarily be met with an equivalent supply-side response. We estimate the level of available resources to be sufficient, but mineral resources are often geographically concentrated and their extraction may be subject to challenges. Mining projects have long lead times and require large investments. Lead times from resource discovery to production average 17 years, including 12.5 years from discovery to feasibility and 4.5 years for planning and construction, according to the IEA. Copper, cobalt and nickel projects have the longest lead times. By comparison, lithium deposits have shorter lead times, of about seven years.
CRU estimates that most markets for energy-transition metals will remain balanced over the medium term as committed and probable projects come online. Supply gaps might emerge after 2025, as the pipeline of new projects is not yet synchronised with the expected rise in demand created by the energy transition.
The commissioning of new projects will depend, along with the estimates of demand and return on investments, on the availability of funds for large capex projects, either internally generated or borrowed. The financial discipline of most miners has improved over the past decade, providing sufficient financial headroom for future investments. However, a prolonged period of low commodity prices might result in delayed investment decisions.
We view the exposure to energy-transition metals among Fitch-rated miners as credit positive. Several mining companies’ credit profiles, including that of Anglo American, have benefited from a growing share of these metals.
However, market participants now expect miners to deliver increasing volumes of metals required for the energy transition without compromising ESG standards. The key challenge is to reduce greenhouse gas emissions across the metal value chain. Emissions intensity of cobalt, aluminium and nickel mining and processing is high, so skyrocketing demand may result in rising net carbon footprints.
Electricity generation is the largest source of emissions in metals production, and therefore decarbonisation of power sources through shifting from coal to renewables will help reduce emissions. Changes in production technologies and increased metal recycling will cut carbon intensity further.
Source: Fitch Ratings
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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
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