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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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Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
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- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
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