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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
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