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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 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
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Showing 226 to 230 news of total 6871 |
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- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- The University of Queensland
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
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