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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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Showing 111 to 115 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Aditya Birla Group - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
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