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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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Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
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- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
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