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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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- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Malabar Cements Ltd - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
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