AlCircle News Edited By "Rupankar Majumder"
A professional with a technical background, specialising in producing insightful content centred around metals, particularly aluminium, passionately engaged in the intricacies of the recycling sector.
Sri Lanka’s aluminium stranded wire import during 2019-20 mislays demand; 97% growth estimated for 2021
The island nation, Sri Lanka declared a state of economic emergency on 31st August 2021, as the country dry out of foreign exchange reserves for essential imports like food. The Central Bank of Sri Lanka is the foremost Asian central bank to increase policy rates after the Covid-19 pandemic in regards to rising inflation in August 2021 spawned by currency depreciation. Sri Lanka imported 5107 tonnes of aluminium stranded wire during 2019-20 and the expenditure occurred for the import was $9.13 million. The metal aluminium delivers a better conductivity to weight ratio than copper. Hence it is also utilized for wiring power grids, including overhead power transmission lines and local power distribution lines. In 2019, Lanka’s import of aluminium stranded wire was counted at 3634 tonnes and...
Mytilineos engages in EU’s SCALE project to extract scandium from bauxite residue
On 29th September 2021, the Athens-listed leading global industrial and energy company, Mytilineos declared its engagement as a coordinator in the European Union’s SCALE project with an experimental plant for the extraction of scandium from bauxite residue. A silvery-white metallic d-block element, Scandium is historically classified as a rare-earth element (REE) and is on the EU list of critical raw materials. The Greek bauxite which is processed by Mytilineos is relatively rich in scandium and likewise produces bauxite residues that are rich in scandium. The experimental or pilot plant for extracting scandium under the SCALE project initiated operations a year ago at the Aluminium of Greece facility in Voiotia. The project has governed to expand the concentration of scandium from...
Pottangi bauxite mines pre-project ventures advancing, says Nalco CMD
On 30th October 2021, Sridhar Patra, the Chairman-cum-Managing Director of Nalco stated that the pre-project ventures like securing green clearance for the execution of the mining lease of Pottangi bauxite mines in Koraput district of Odisha and construction of an 18-km overland conveyor are advancing. The CMD in his speech at the 40th AGM of the company said: “Pottangi bauxite mines have been reserved by the Centre in favour of Nalco for meeting the bauxite requirement of its one million tonnes alumina refinery expansion project.” He added: "The mining plan has already been approved. Important milestones like preparation of Environmental Impact Assessment (EIA) and Environmental Management Plan (EMP) report, the conduct of a public hearing, identification of compensatory afforestation...
Curtis brings victory to Oman Aluminium Rolling Company in the US trade case
The international law firm Curtis that represents clients globally from corporations and governmental entities to emerging entrepreneurs declared that its international trade practice brought a significant victory for the Govt. of Oman and local aluminium sheet and foil producer, Oman Aluminium Rolling Company (OARC), in a year-long probe by the US Department of Commerce into allegations that the sultanate unfairly capitalized OARC’s operations. The critical issue in the US trade case was the accusation that the sultanate directed banks in Oman to dispense OARC with preferential lending. Curtis stated in a statement: “Our international team, comprising lawyers in Muscat, Geneva, and Washington, successfully beat back the allegations. The result was a ‘negative’ finding on the banking...
Jamaica Govt. finalizes agreement with Noranda for reinstatement of bauxite levy
The mining and transport minister of Jamaica, Robert Montague stated that the Government finalised an agreement with Concord Resources Holding Limited for the reinstatement of the bauxite production levy on the export of aluminium ore. On 29th September 2021, Montague said to the House of Representatives: “The reinstatement of the levy is one of several agreements coming out of negotiations which started in August with Concord, its new joint partner in New Day Aluminum (Jamaica) Limited.” The former minority shareholder in New Day Aluminum, Concord Resources Holdings Limited acquired majority shares in the American company earlier in 2021, succeeding DADA Holdings Limited as the new overseas partner of the Jamaican Government in Noranda Jamaica Bauxite, which ships the ore to New Day...
South32 acquires additional stake in Mozambique-based Mozal Aluminium smelter
The mining and metals company headquartered in Perth, Western Australia, South32 Ltd. worked out its right to acquire an additional 25% stake in Mozambique-based Mozal Aluminium, a drive that will increase its annual output by 15% from the smelter. South32 acquired the additional stake in the aluminium smelter for $250 million from Mitsubishi subsidiary MCA Metals Holding, raising its stake in the smelter to just over 72%. On 31st August 2021, South32 had net cash of $553 million, while it funded the purchase from cash in hand. The Industrial Development Corporation of South Africa holds a 24% stake in Mozal Aluminium, while the Mozambique government holds 3.9% through preference shares. Graham Kerr, Chief Executive Officer of South32 said: "The smelter benefits from access to...
Gulf’s earliest aluminium producer ‘ALBA’ held its Q3 BoD meeting in-person for the first time since COVID-19
On 29 th September 2021, Aluminium Bahrain B.S.C (Alba) held its first in-person BoD Meeting for the third quarter of 2021 at Alba Oasis Hall. Shaikh Daij Bin Salman Bin Daij Al Khalifa, the Chairman of Alba’s Board of Directors, started the Board meeting with a welcoming note to the Board of Directors and Alba Executives and stated: “We are very thankful to the Kingdom of Bahrain’s Leadership for everything they have done since the start of COVID-19 pandemic and towards His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime Minister for his hands-on efforts along with all frontliners' in Bahrain to bring us to where we are today: citizens and residents in order to keep us safe. We were able to conduct this Board Meeting in-person since the start of the COVID-19...
Guinea mining contracts review bound to happen, but not soon: Chatham House
On 5th September 2021, following the political unrest in West African nation Guinea, which dethroned President Alpha Conde, one working official from the Russian aluminium giant Rusal commented: “Political turmoil has not disrupted the mining sector as much as some had predicted. Everything is stable, business is going on. It's just a transition period we are going through." Lieutenant-Colonel Mamady Doumbouya led military group have out-stretched their course of action to reassure foreign investors that they will ratify existing agreements. The coup leaders proved themselves that they are not against any business by withdrawing curfew from the mining areas, which they implemented immediately after seizing power. The group urged mining companies to pursue operations and made sure that the...
Turkey’s export of aluminium cans during 2018-21 indicates uneven movement
The economy of Turkey is recoiling from a pandemic-influenced slump with close to 10% growth expected in 2021 as manufacturing and consumption escalate, but the resonance is feeding into and in turn, being break down by double-digit inflation. The nation that bridges Europe and Asia, Turkey recorded exports of 49,848 tonnes of aluminium cans during 2018-20 and the earnings occurred from the export accounted for $139.74 million. Turkey’s export in 2018 was documented at 7435 tonnes and the earnings generated from the export was $31.44 million, whereas, in 2019, the export observed a sharp growth by 214.20%, as the export volume leapt to 23,361 tonnes and the earnings surged to $56.04 million. In 2020, the aluminium cans exportation of Turkey is exemplified with de-growth by 20%, as the...
China’s power shortage driving industries to dark, aluminium production suppresses
Electricity is an essentiality of human life and the world’s most populous country China is countering a power shortage. As of now, it is only known that Chinese aluminium smelters are curbing production, steel mills are closing down, while some cities are turning off street lights, as energy sectors are experiencing a lack of thermal coal. Notwithstanding, China’s power distress is feasibly much bigger and savage than it is envisioned. Javier Blas, the Chief Energy Correspondent at Bloomberg posted on social media by writing: “CHINA ENERGY CRUNCH: The electricity shortages in China are worsening, and widening geographically. It’s getting so bad Beijing is now asking some food processors (like soybean crushing plants) to shut down.” China is the world’s biggest consumer of coal with over...
Mining Industry Indonesia visions end-2022 towards floating IPO of Inalum
On 27th September 2021, the CEO of the state mining holding firm Mining Industry Indonesia (MIND ID), Orias Petrus Moedak stated the company is looking out for an initial public offering (IPO) around the end of next year for its bauxite mining business. The CEO further added, as a controller shareholder, the State-Owned Enterprises Ministry is presently in the process of separating MIND ID and its bauxite business, known as Inalum, into two entities in preparation for the IPO, chief executive Orias Petrus Moeldak said. Orias further added that the State-Owned Enterprises Ministry, as the controlling shareholder, is currently in the process of separating MIND ID and its bauxite business, known as Inalum, into two entities in preparation for the IPO. “If the separation process can be...
India’s metal recycling company CMR Green Technologies files IPO paperwork with SEBI
CMR Green Technologies, the metal recycling company and India’s largest producer of aluminium and zinc die-casting alloys with a combined annual capacity of over approx. 310,700 tonnes has filed preliminary papers with capital markets regulator ‘Securities and Exchange Board of India’ (SEBI) to raise funds through an initial share sale. According to the draft red herring prospectus (DRHP), the initial public offering (IPO) comprehends fresh issuance of equity shares worth INR 300 crore and an offer for sale of 3,34,14,138 equity shares by promoters and investors. Those offering shares in the OFS incorporates promoters such as Gauri Shankar Agarwala (34.33 lakh equity shares), Kalawati Agarwal (up to 33.45 lakh equity shares) and Mohan Agarwal and Pratibha Agarwal will divest up to 30.09...
Argentina’s import of aluminium structures during 2018-21 displays enterprising growth followed by a continual downfall
The economy of Argentina has a mixed economic system that incorporates a variety of private freedom, blended with centralized economic planning and government regulation. Argentina is a member of the Common Market of the South (Mercosur). The economy of the country will grow at 7.2% in 2021, as stated by an analyst in an Argentine central bank poll published a few days back, an improvement on their forecast last month of 6.8% growth. The nation in the southern half of South America, Argentina imported 5585 tonnes of aluminium structures during 2018-20 and the expenditure occurred for the import accounted for $39.79 million. In 2018, Argentina recorded import of aluminium structures of 1071 tonnes and the expenditure incurred for the import was $7.17 million, whereas, in 2019 the import...
Vedanta Aluminium Business outperforms at PAT Cycle-II scheme by Ministry of Power
Commodities tycoon Anil Agarwal led Vedanta Aluminium, which is also India’s largest producer of aluminium and value-added products, has secured the top spot at Perform, Achieve and Trade (PAT) Cycle-II among the Indian aluminium industry. The Ministry of Power, Govt. of India’s regulatory instrument ‘Perform Achieve and Trade (PAT) scheme’ that is deployed to lower specific energy consumption in energy-intensive industries with an associated market-based mechanism to enhance cost-effectiveness through certification of excess energy savings, which can be traded. Vedanta's subsidiary Bharat Aluminium Company (BALCO) bagged the desired apex spot with the highest Energy Saving Certificates among the aluminium smelters in India, followed by Vedanta Jharsuguda's Smelter. The alumina refinery...
Rio Tinto, Unifor draw up labour agreement for Kitimat aluminium smelter
On 25th September 2021, the global mining and metal giant Rio Tinto stated that the company and Canadian union Unifor has drawn up an agreement in principle on a new Collective Labour Agreement for BC Works. The agreement materializes following the number of weeks the second-round discussion happened between the two parties after the initial round of negotiations over proposed changes to workers' retirement benefits and unresolved grievances had dwindled to go through in July. The largest private-sector union in Canada, Unifor that represents about 900 workers at Rio Tinto’s aluminium smelting plant in Kitimat and power generating facility in Kemano had initiated a strike action at BC Works in July after the first round of discussion went to wane. Rio Tinto published a statement that...
Czech Republic’s export of aluminium tubes and pipes fittings during 2018-20 demonstrates steep to marginal rise; 4.5% growth estimated for 2021
The Central European country, the Czech Republic is counted as a developed country with a high-income economy. Its economy revolves around its employment rate, which the region is resolute on maintaining. With the pressure on public funds, Czech Republic's focus has been on increasing employment levels rather than supporting the working poor. However, despite the dismal epidemic situation and restrictions in numerous areas, the Czech economy recorded only a slight decline in Q1 2021. The nation whose 50% plus exports are automotive parts, Czech Republic exported 3994 tonnes of aluminium tubes and pipes fittings during 2018-20 and the earnings occurred from the export was $28.04 million. In 2018, Czech Republic exported only 533 tonnes of aluminium tubes and fittings and generated revenue...
EGA accomplishes work of new 600-megawatt power plant
Emirates Global Aluminium in UAE, the top primary aluminium producer in GCC and a leading aluminium producer globally, has announced the accomplishment of its power plant, which will remarkably enhance environmental performance at EGA in Jebel Ali. The first in the UAE and the global aluminium industry, the Dh1 billion state-of-the-art power plant is built around a Siemens Energy H-class gas turbine, with a power generation capacity of 600 megawatts. The newly developed power plant will further upgrade the efficiency of power generation at EGA, retrieving natural resources, economizing costs and scaling down environmental emissions. The former five turbines whose efficiency has been reduced are being kept on standby for use only in emergencies at EGA. EGA’s power-generation and...
BALCO inks MOU with VNIT Nagpur for green concrete solution towards developing sustainable road
India’s primary aluminium producer, Bharat Aluminium Company (BALCO) has lately inked a Memorandum of Understanding (MoU) with Visvesvaraya National Institute of Technology (VNIT) Nagpur for using their green concrete solution towards road construction inside the plant area and the adjacent areas. VNIT’s innovative solution, green concrete is developed to exploit industrial by-products such as fly ash and bottom ash for construction purposes. The technology institute’s research has demonstrated that more than 500 kgs of ash could be consumed per cubic meter of concrete road, rather than the current usage of 100 kgs by addition of high solid content superplasticizer admixture developed by them. However, this roughly renders to about 600 tonnes of ash consumption per km of a single lane...
