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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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Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
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- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
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