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.
EGA reports strong H1 2024 financial performance, driven by high demand for premium aluminium
Emirates Global Aluminium (EGA), the world's largest producer of premium aluminium, has reported strong financial results for Q12024, driven by sustained global demand for premium aluminium. EGA's adjusted Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) reached AED 4.20 billion ($1.14 billion) for H1 2024, marking a slight increase from AED 4.15 billion ($1.13 billion) in the same period last year. The company's net profit stood at AED 1.84 billion ($500 million), down from AED 1.96 billion ($533 million) in H1 2023, reflecting the impact of the UAE's newly introduced corporate tax, which came into effect on January 1, 2024, at a rate of nine per cent. EGA's aluminium segment adjusted EBITDA margin improved to 27.5 per cent, compared to 26.9 per cent in the first...
Press Metal's Q2 net profit jumps 65%, driven by higher prices and export gains
The largest integrated aluminium producer in Southeast Asia, Press Metal Aluminium Holdings Bhd, reported a 65 per cent increase in net profit for Q2 FY2024, driven primarily by higher selling prices and a stronger US dollar, which bolstered export revenues. For the quarter ending June 30, 2024, the company posted a net profit of RM505.83 million, up from RM305.79 million in the same period last year. Revenue also increased 5.2 per cent year over year, rising to RM3.95 billion from RM3.76 billion. However, Press Metal cautioned that macroeconomic uncertainties and rising alumina costs, driven by temporary supply disruptions, have increased expenses. The company remains optimistic, noting that these pressures are expected to ease by year-end as supply conditions stabilise. Tan Sri Paul...
Gränges joins First Movers Coalition to drive aluminium industry decarbonisation efforts
The global leader in aluminium rolling and recycling in selected niches, Gränges has officially joined the First Movers Coalition (FMC), a strategic move aimed at accelerating the decarbonisation of the aluminium industry. This initiative is crucial for Gränges as it seeks to secure access to low-carbon primary and recycled aluminium, a key factor in minimising the environmental impact of its products and achieving its ambitious 2040 net-zero target. The FMC, an initiative spearheaded by the World Economic Forum, represents a global coalition of companies committed to leveraging their purchasing power to drive down carbon emissions in heavy industries. This includes sectors such as aluminium, aviation, cement and concrete, steel, shipping, trucking, and advancements in carbon dioxide...
Metro Mining charts growth strategy with 7+ million tonnes production target
The Australian mining and exploration company based in Brisbane, Queensland, Metro Mining, is poised for significant growth as it moves towards increased production from Q4 2024. It has ambitious plans to expand its capacity to over 7 million tonnes per annum by 2025 and beyond. CEO Simon Wensley attributes the company's recent success to the strategic decision to mobilise and commission the offshore floating terminal (OFT) Ikamba. This key initiative was crucial in achieving record results in the second quarter. Despite its current market capitalisation of $231.64 million, Metro Mining remains steadfast in its commitment to driving organic growth, a strategy that will guide the miner as it navigates the future. The OFT, Ikamba, commenced operations on April 28, 2024. After an initial...
Guinea's bauxite exports surge, nearing record high
Guinea's bauxite exports have shown remarkable growth, marking a significant achievement in the global market. However, the country's bauxite exports are growing rapidly and being transported by Capesize bulkers. In 2023, Guinea exported a record 127 million tonnes of bauxite, an impressive increase of 25 million tonnes compared to the previous year. This surge represents a nearly 19.60 per cent year-on-year growth, bringing the country within 24.50 per cent of last year's total exports. Most of Guinea's bauxite is shipped to China, with the bulk of the exports departing from the ports of Kamsar, Boffa, Cap Verga, and Conakry. The continued expansion of Guinea's bauxite industry underscores the nation's growing importance in the global aluminium supply chain. According to research from...
ABB strengthens industrial emission measurement portfolio with Födisch Group acquisition
On August 27, 2024, the technology leader in electrification and automation, ABB, announced an agreement to acquire Födisch Group, a leading developer of advanced measurement and analytical solutions for the energy and industrial sectors. This acquisition will enhance ABB's offerings in continuous emission monitoring systems (CEMS) and strengthen its position in technology and innovation. By integrating the Födisch Group, ABB aims to expand its portfolio to address customers' most complex measurement challenges. Födisch Group, headquartered in Markranstädt, Germany, reported revenues of approximately €50 million in 2023 and employs around 250 people. The company operates a 3,000 m² production facility in Markranstädt, with additional sites in Germany, the Netherlands, and China. Födisch...
Indonesian authorities impose penalties on mining companies for project delays
Three mining companies in Indonesia are now facing penalties due to delays in completing their refinery projects, following findings in the 2023 Audit Report by the Supreme Audit Agency (BPK). The report highlighted potential non-tax state revenue from administrative fines related to these delays, amounting to US$129 million (Rp2 trillion), which has yet to be collected. The Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, emphasised that alumina refinery construction was expected to be completed by 2023. While companies that missed this deadline are still being granted export permits, they must meet special conditions based on the progress of their refinery construction. These companies are typically subject to fines. Indonesia Business Post (IBP) reported that the ESDM...
Iran's aluminium ingot production sees modest growth in the first four months
The Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) has reported a slight increase in the country's aluminium ingot production for the first four months of the current Iranian calendar year, which ended on July 21. According to a report cited by the Islamic Republic News Agency (IRNA) on August 27, 2024, Iran produced 221,409 tonnes of aluminium ingots during this period, marking a one-per cent rise from the 218,531 tonnes produced in the same timeframe last year. Four major Iranian companies led the production: South Aluminium Corporation (SALCO), IRALCO, Almahdi Aluminium Co., and Iran Alumina Company. IMIDRO detailed that SALCO was the largest contributor, producing 94,503 tonnes of aluminium ingots. IRALCO followed with 60,210 tonnes, while Almahdi...
Indian manufacturer Ramakrishna Forgings secures prestigious award from Dana
The Ohio-headquartered global leader in drivetrain and e-propulsion systems, Dana, has unveiled its 2023 Supplier Awards recipients. Eight companies across five countries were honoured for their outstanding contributions to Dana's strategic goals. Among the winners is India's Ramkrishna Forgings, a shining example of the global recognition that Indian manufacturers are now receiving, further cementing the global reputation of Indian-made automotive components. This recognition follows a growing trend of international acclaim for Indian manufacturers. Earlier this year, Sona Comstar earned American Axle's prestigious global supplier award, while Schaeffler acknowledged Harsh Engineers and Ravi Technoforge as top suppliers. This year's Dana Supplier Award winners include: Expand Global...
AMAG Austria Metall AG backs European Industrial Deal, signs Antwerp Declaration
AMAG Austria Metall AG has joined over 1,000 energy-intensive companies in signing the Antwerp Declaration, a powerful call for a European Industrial Deal. This collective initiative seeks to balance the urgent need for climate transition with safeguarding Europe’s industrial competitiveness. By adding its voice to this movement, AMAG underscores the critical importance of ensuring that the path to a greener future also secures the economic viability of the basic materials sector across the continent. Helmut Kaufmann, CEO of AMAG, said, “Signing the Antwerp Declaration is an important signal from AMAG and the entire energy-intensive industrial sector in Europe. We face enormous challenges on the path to climate neutrality, and it is essential that we, as an industry, receive the support...
German aluminium industry sees uneven growth in Q2; recyclers lead the way
The German aluminium industry experienced mixed results in production during the second quarter of 2024. While overall production trends varied, aluminium recyclers emerged as a bright spot, reporting significant gains. Recyclers produced around 725,000 tonnes of secondary aluminium from April to June, marking a 4 per cent increase compared to the previous quarter. However, despite this positive development, the industry's performance in the first half of the year still fell short of last year's levels. Total production for the first six months stood at approximately 1.4 million tonnes, representing a 2 per cent decline compared to the same period in the previous year. Rob van Gils, President of Aluminium Deutschland, emphasised, "Aluminium recycling is an essential building block for the...
Aluminium foils and food wrapping paper: Govt. of India sets rules for sale
The Ministry of Consumer Affairs, Food, and Public Distribution, Government of India, has issued a notice regarding the appropriate units of measurement for the sale of food wrapping paper and aluminium foils used for carrying food products. These products are sold by weight (in kilograms) and/or length (in metres). The notice cites Rule 12 and Rule 16 of the Legal Metrology (Packaged Commodities) Rules, 2011, which require that the quantity declaration on packaging be precise and accurate for consumer transparency. The packaging must state the number of usable sheets and dimensions for items like aluminium foils. The Ministry proposes that both weight (kg) and dimensions (metre x metre or cm x cm) be declared on packaging to ensure that consumers have accurate information about the...
Societe Generale to exit London Metal Exchange's open-outcry trading floor
Societe Generale International has announced its decision to withdraw from the London Metal Exchange's (LME) open-outcry trading floor, known as the "ring," a move that has sparked concerns about the future viability of this historic trading venue. The LME, the world's oldest and largest market for industrial metals, confirmed the news on August 23, 2024. This departure leaves only seven members operating within the LME ring, a significant decline from its peak of around 30 members in the late 1980s. The ring, renowned for its iconic circle of padded red leather seats, has long been a hub for traders who engage in intense five-minute sessions using traditional hand signals to trade key metals such as copper, aluminium, zinc, lead, nickel, and tin. The daily prices on the LME trading floor...
Australia forms Green Metals Advisory Panel to drive industry decarbonisation
The Australian Government has convened a panel of industry experts to guide the nation's metals sector towards a more sustainable future. The newly established Green Metals Advisory Panel comprises leaders from across the metals, finance, research, and decarbonisation industries. Key members of the panel include Mark Cain, CEO of the Australian Steel Institute; Paul Howes, National Managing Partner at KPMG; Marghanita Johnson, CEO of the Australian Aluminium Council; and Rebecca Tomkinson, CEO of the Chamber of Minerals and Energy of Western Australia. The panel also features Jenny Selway, CEO of the Heavy Industry Low-Carbon Transition Cooperative Research Centre; Paul Farrow, National Secretary of the Australian Workers Union; and Steve Murphy, National Secretary of the Australian...
Indo-Japan partnership expands, JNARDDC and Daiki Aluminium sign MoU for recycling unit
A strategic collaboration has been formed between India's Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC), Nagpur, and Japan's leading aluminium product manufacturer, Daiki Aluminium Industry Company Limited. The collaboration aims to strengthen the Indo-Japanese economic partnership and promote sustainable aluminium production. The two entities formalised their partnership through a Memorandum of Understanding (MoU) signed at Daiki Aluminium's headquarters in Osaka, Japan. The MoU was signed by Goto Kazushi, Senior Managing Director of Daiki Aluminium Industry Company Limited, and Dr Anupam Agnihotri, Director of JNARDDC, with key figures including Fukushima Toshitake, Vice General Manager of Overseas Business Coordination at Daiki, R.N. Chouhan, Head of...
Zaporozhye Aluminium Plant auction cancelled, but eyed for industrial park: Ukraine official
As a nation severely affected by the ongoing geopolitical crisis with its neighbouring country, Ukraine's Head of the State Property Fund, Vitalii Koval, believes that the Zaporozhye Aluminium Plant (Zaporizhzhia Aluminium Plant) will appeal to investors primarily as a site for industrial development. Vitalii Koval, a key figure in the State Property Fund, shared his insights, as reported by NikVesti. Koval stated that the State Property Fund cancelled the auction for the sale of the Zaporozhye Aluminium Plant (ZAP) after three unsuccessful attempts. Vitalii Koval said, "ZAP is certainly of interest to potential investors. Especially as a brownfield site with developed infrastructure. This opens opportunities to create new industries, contributing to the region's economic development."...
Foreign investment in China falls to the lowest level in 30 years
Foreign direct investment (FDI) in China has declined to its lowest level in three decades, according to official data released by the State Administration of Foreign Exchange in February 2024. The sharp decline highlights growing concerns among foreign corporations over China's increasingly stringent regulations and the impact of U.S. sanctions, as Nikkei Asia reported on February 19, 2024. In 2023, China's net FDI totalled a mere $33 billion, a staggering 80 per cent drop from the previous year. This marks the second consecutive year of decline, a significant fall from the peak of $344 billion recorded in 2021. Despite the dismal overall figures, the final quarter of 2023 saw a slight improvement, with inflows surpassing outflows by $17.5 billion. This modest recovery followed the...
Ball Corporation collaborates with global beverage brands to champion sustainable aluminium packaging
Ball Corporation partners with global beverage giants to advance sustainability in aluminium packaging as demand surges amid growing environmental concerns. According to a leading industry expert, global aluminium demand is expected to rise by 40 per cent by 2030, driven by its superior recyclability and lower carbon footprint compared to other packaging materials. Aluminium plays a crucial role in global food and beverage packaging, ensuring freshness and safeguarding contents. However, enhancing the recyclability of aluminium-containing food and drink packaging remains a significant global challenge that Ball Corporation is actively addressing. Aluminium is highly recyclable on its own, but when used in mixed packaging, it can impede the recyclability of many products, posing a...
