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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
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