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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- White Energy Company Limited
- PTC India Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Marubeni Corporation - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
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