Jamaica is preparing for a major shift in its mining industry, with the Government looking to expand mineral exploration beyond bauxite and alumina, develop higher-value products and reduce taxpayers' exposure to financially troubled state investments. The newly established Ministry of Mining and Geology is spearheading the initiative, with a broader agenda covering mineral diversification, fiscal reform, geological assessment and environmental accountability. Minister of Mining and Geology Floyd Green has begun implementing the new direction following a directive from Prime Minister Andrew Holness. The strategy, outlined during a high-level meeting of the Ministry, aims to reposition mining as a wider driver of economic growth, investment and national development. Limestone and critical...
Venezuela's aluminum industry could be making another move into the US market as commodity traders and mining investors explore a fresh shipment of primary aluminum. The discussions signal renewed commercial engagement between the two countries and could open another supply channel for US aluminum consumers. The proposed cargo would follow the return of Venezuelan aluminum to the US after years of restricted trade. However, the negotiations remain ongoing, and the potential shipment's significance will depend on whether the renewed trade activity develops into a sustained flow of metal. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook " Mercuria and...
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LME aluminium opened at US$2,207.5 per tonne on Monday, with its low and high at US$2,185 per tonne and US$2,213.5 per tonne, respectively, before closing at US$2,207.5 per tonne, down US$3 per tonne or 0.14 per cent. As of Monday, July 24, both LME aluminium cash bid price and LME aluminium official settlement price inched up by US$1 per tonne or 0.04 and US$1.5 per tonne or 0.06 per cent to halt at US$2,154 per tonne and US$2,155 per tonne. On a W-o-W calculation, a decline of US$40 per tonne was recorded from US$2,194 per tonne and US$2,195 per tonne on July 18. On July 24, the 3-month bid price and 3-month offer price dipped by US$5.5 per tonne or 0.25 per cent and US$4.5 per tonne or 0.20 per cent to reside at US$2,191 per tonne and US$2,193 per tonne. December 24 bid price and...
Bosnia based FEAL Aluminium announced installing a new pressing line, which would raise its annual output capacity of 40,000 tonnes by 15,000 tonnes. The Spanish business SpanisIt provided the manufacturing line, the company's sixth profile pressing plant, FEAL stated in a news statement last week without specifying the investment amount. The new line is housed in a 7,500 square metre manufacturing unit near the current FEAL production facilities at Siroki Brijeg, near Mostar. Furthermore, FEAL will soon open a factory in Cerno, near Ljubuski, to process profiles and manufacture prefabricated aluminium substructures for solar power plants and components for them. Feal also said it is constructing a facility in Karlovac, central Croatia, for pressing, plasticizing, and machine processing...
World primary aluminium production in the second quarter of 2023 ended June 30, amounted to 17.259 million tonnes, up by 1.8 per cent from 16.953 million tonnes in Q1 2023, found the International Aluminium Institute survey. On an annual basis, the output in 1Q2023 edged an increase of 1.06 per cent from 17.078 million tonnes. In the entire first half of 2023, world primary aluminium output totalled 34.212 million tonnes – 1.81 per cent more than 33.605 million tonnes a year ago. Meanwhile, the world’s primary aluminium production in June 2023 stood 3.11 per cent less M-o-M at 5.699 million tonnes compared to 5.882 million tonnes. However, on a year-on-year calculation, the output was found 0.85 per cent higher than 5.651 million tonnes. In China, primary aluminium output during June 2023...
Hydro Rein and GreenGo Energy are extending their current collaboration to create two additional early-stage solar projects in Denmark, totalling 410 MW. The two early-stage plants, with a yearly output capacity of 522 GWh, are in Jylland, Denmark. A 114 MW project is planned to begin construction in 2025 and operations in early 2026, while a 296 MW project is expected to start construction in 2026 and operations in 2027. The projects will be wholly owned by Hydro Rein and built collaboratively by Hydro Rein and GreenGo Energy. “We are pleased to announce that we are increasing our presence in Denmark and strengthening our collaboration with GreenGo Energy, leveraging our competence, and gaining valuable synergies across the portfolio. Denmark has set a clear ambition to source 100...
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Headquartered in Henan, China, the Henan Xinhongji Refractory Material has been successfully enlisted by AL CircleBiz, the world's first B2B market for the global aluminium sector. AL CircleBiz is the world's first global marketplace, bringing millions of buyers and sellers along the aluminium value chain. The company primarily connects clients and merchants via searches against listed products and business leads. Xinhongji Refractory has believed in high quality, honesty, and innovation since its inception to impress consumers with exceptional goods and first-rate services, serve customers with sincerity and friendliness, and attract customers with high technology and innovation. The products offered by Xinhongji Refractory include- High Alumina Bricks High Alumina Refractory Cement...
Bosch, the leading German industrial major and the world's largest auto components manufacturer and the producer of a wide range of aluminium profiles, envisions significant growth by establishing itself as a crucial strategic hub. Recognizing the rise of software tech disruptions and the impact of macroeconomic developments on the automotive industry, Bosch aims to capitalize on India's burgeoning software engineering talents. This strategic move is seen as a decisive advantage over China and will play a pivotal role in Bosch's sustainable global growth journey. Amidst a global economic slowdown with China, known as the 'Factory of the World,' witnessing a deceleration in its economy, Europe and the US are grappling with uncertain economic conditions. However, in this challenging...
Vedanta Limited announced the first quarter financial and operational results ended June 30 of FY2024, revealing INR 33,342 crore of consolidated revenue, down by 10.43 per cent from INR 37,225 crore in Q4 FY2023 and 12.83 per cent less than INR 38,251 crore in Q1 FY2023. The fall could be attributed to a steep reduction in output commodity prices, partially offset by favourable movement in the exchange rate. Vedanta’s consolidated quarterly EBITDA was INR 6,975 crore, reflecting a fall of 25.50 per cent from INR 9,362 crore in Q4 FY23 and a plunge of 35.06 per cent from INR 10,741 crore in Q1 FY23. Meanwhile, despite the Q-o-Q fall in revenue, Vedanta’s consolidated net profit witnessed a rise of 5.62 per cent in the June quarter of FY2024 from INR 3,132 crore to INR 3,308 crore. But on...
Aluminium Bahrain embraces digital transformation by integrating Virtual Reality (VR) technology in five key areas for its in-house training courses. The initiative was carried out in collaboration with Atyaf eSolutions, and the signing ceremony was held on 12 July 2023. The VR training will guide Alba employees with a safe and realistic platform to understand Potlines and how it functions, procedures that need to be followed when operating a potline, and actions to take during emergency cases such as tap out, open circuit, prolonged power outage, failure of alumina supply, and failure of compressed air supply. "Virtual Reality is a medium -- a means by which our employees can learn in a safe and immersive environment without the risk of injury -- and this is when seeing evolves to...
A team of researchers led by Professor Matthew McDowell from the Georgia Institute of Technology (Georgia Tech) have developed an aluminium foil that may improve the performance of solid-state lithium battery cells. The discovery can also help electric vehicles perform better for longer distances on a charge. The team employed aluminium foil to create a solid-state battery cell with a better energy density than current solid-state cells. The project started as collaboration between the Georgia Tech team and Novelis , a prominent aluminium producer and the world's biggest recycler of aluminium. The researchers are presently attempting to scale up the size of the batteries to understand how size affects the behaviour of the aluminium foil. The group is also actively investigating various...
Norsk Hydro wrote a letter to the London Metal Exchange last week urging to rethink the decision not to ban Russian aluminium from its warehouse network. Norsk Hydro believes that a large volume of aluminium arriving from Russia is weighing on the benchmark metal price on LME. "As LME aluminium prices are referenced in contracts between consumers, producers and traders, the dominance of Russian aluminium in the system is a problem," said Norsk Hydro's Chief Financial Officer Paal Kildemo. Russian aluminium stock in LME-registered warehouses in June accounted for 80 per cent, compared to 68 per cent in May and 41 per cent in January. That, according to Norsk Hydro, indicates a lack of acceptance for Russian aluminium in the market. Although there are no international sanctions against...
The Perth headquartered mining and metal company, South32, which is listed on the Australian Securities Exchange with secondary listings on the Johannesburg and London Stock Exchanges, reported that during the fiscal year ending in June, there had been three consecutive annual production records achieved, demonstrating significant growth in aluminium, copper, and manganese output. In Australia, financial years run from 1 July to 30 June the following year. Graham Kerr, the CEO of South32, said, “We had a strong finish to the year, with group copper equivalent production growing 9 per cent in the quarter. Our strong operating results included record annual production at Hillside Aluminium , Australia Manganese and South Africa Manganese. Aluminium production increased by 14 per cent and...
LME aluminium opened at US$$2,255 per tonne last Friday, with its high and low at US$2,262 per tonne and US$2,201 per tonne, respectively, before closing at US$2,205.50 per tonne, a drop of US$51.50 per tonne or 2.28 per cent. On Friday, July 21, LME aluminium cash bid price and LME aluminium official settlement price contracted, following an intermittent rise on the previous day . The LME aluminium cash bid price decreased by US$18 per tonne to reach US$2,153 per tonne, while the LME aluminium official settlement price fell US$18.50 per tonne to come in at US$2,153.50 per tonne. On a week-on-week calculation, the LME aluminium benchmark price edged 3.21 per cent lower than US$2,225 per tonne, and on a month-on-month basis, the price stood slightly down by US$3.50 per tonne from US$2,157...
The global mining and metal giant Rio Tinto and the Giampaolo Group, founded over 50 years ago in Toronto, Ontario, with a distinct focus on the recycling industry, have agreed to form a joint venture to manufacture and market recycled aluminium products. The transaction reflects the joint venture partners' commitment to meeting the increasing demand for low-carbon aluminium as a critical material in the energy transition. As per the agreement, Rio Tinto is set to purchase 50 per cent ownership of Giampaolo Group's wholly-owned Matalco business for $700 million, subject to standard closing adjustments. Matalco is a prominent manufacturer of top-tier recycled aluminium billet and slab products. With seven facilities—six in the United States and one in Canada—Matalco boasts an impressive...
Helio, formed under the collaboration between Orora Beverages and industrial rigid container specialists Velox-digital, is a cutting-edge direct-to-shape digital printing solution for designing or decorating aluminium cans. Helio named after the Greek God of the Sun, expands Orora's existing high-speed offset decorating technique, offering clients a faster turnaround from concept to delivery, more operational flexibility, and infinite design colours, textures, and finishes. Orora clients will experience reduced wait times and improved flexibility, according to Chris Smith, General Manager of Orora Beverage Cans. "Cans are a terrific sustainable packaging option, convenient for many occasions and most importantly, produced from aluminium containing recycled content, with the can itself...
Merlo Coffee's efforts towards sustainability through promoting its 100% recyclable coffee capsules to L'Occitane's release of the Solidarity Balm featuring 100% recyclable aluminium packaging, this week has witnessed a few sustainability initiatives. Plansee technology has also set an ambitious goal of achieving carbon-free aluminium production, while Amcor launched a new sustainability program called TRANSPARENCE. So, without any further ado, let us look at each of the sustainability developments this week. L'Occitane launched the Solidarity Balm featuring 100% recyclable aluminium packaging, as a passion for biodiversity protection and sustainability goals. The balm is encased in aluminium packaging. It is a multipurpose balm that may be used on the face, lips, and hair for hydration,...
According to a manufacturer, using aluminium in the capsules allows for stronger sealing power, ensuring coffee protection against oxidation and heat resistance, which are significant factors in preserving the freshness of the fragrances. Wheels India's chairman S Ram reminded shareholders at the 64th AGM held through video conference on Wednesday that the firm expects development in its aluminium wheels export business owing to solid partnerships with global OEMs. The firm will begin delivering cast aluminium wheels to OEMs later this year, and they anticipate increased demand for the company's steel and aluminium wheels. Alstom is said to be adopting innovative aluminium technology for Vande Bharat trains. Torrié, a Portuguese coffee brand owned by the José Maria Vieira firm (JMV), has...
Vedanta Aluminium was certified as a Great Place to Work® (GPTW) for the fiscal year 2022-2023. The praise goes to Vedanta Aluminium's countrywide operating divisions, whose tenacity and dedication earned this coveted award. Emirates Global Aluminium (EGA) and Japan's Itochu Corporation signed a new agreement to collaborate on aluminium production, decarbonization, and the growth of UAE businesses in EGA's supply chain. On July 20, the Chinese state-owned Aluminium Corporation of China announced Chairman Liu Jianping's resignation. His departure was attributed to a "work adjustment." Liu resigned as chairman after barely two years in office. Volta Aluminium Company (VALCO) disclosed that it needs $600 million in capital to revamp its operations. The faltering state-owned enterprise...
On July 20, 2023, analysts and traders said that Chinese alumina prices escalated to their highest on constraint provision in more than a month amid augmented demand from aluminium smelters in the southwestern Yunnan province. On July 20, the Shanghai Futures Exchange witnessed a remarkable surge in the recently introduced alumina futures contract. According to Refinitiv Eikon data, the contract for the most-traded November expiry date, SAOX3, experienced a significant jump of 3.2 per cent, reaching an all-time high of RMB 2,908 per tonne. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Refinitiv Eikon is an open-technology solution for financial markets professionals, providing access to...
