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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, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
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Showing 226 to 230 news of total 6871 |
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- Malabar Cements Ltd - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Planning Commission, India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Aditya Birla Group - India
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