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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 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
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