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.
Key highlights from the global aluminium industry, July 2024
In July 2024, the global aluminium industry experienced a month of significant developments and milestones. Industry leaders celebrated substantial investments in sustainability, with major projects focused on enhancing recycling capacities and reducing carbon footprints. Companies like Speira and RUSAL announced record investments in green technologies, while Porsche's next-generation vehicles prominently featured Hydro REDUXA low-carbon aluminium. Additionally, advancements in industrial technologies, such as Talum's Aluminium 4.0 initiative , underscored the sector's commitment to innovation and environmental responsibility. In spite of a downward trend in aluminium prices on the LME and SHFE platforms, the month concluded with promising collaborations and strategies aimed at improving...
Ukraine to auction state-owned stake in Zaporozhye Aluminium Plant on August 6
Ukraine's State Property Fund has announced an auction scheduled for August 6 to sell its 97.5458 per cent stake in JSC Zaporozhye Aluminium Plant. The auction will be conducted on the Prozorro.Sales electronic trading platform, with a starting price set at nearly UAH 151.9 million ($3.7 million). Bidders must submit their applications by August 5. The auction includes 607,446,012 shares and extensive property assets. The plant's balance sheet lists 1,497 real estate and infrastructure items covering 370,900 square meters, 291 vehicles and special equipment, and 25 land plots totalling 216 hectares. Some of the enterprise's real estate, measuring 6,756 square meters, is currently leased under eight agreements, some valid until September 1, 2065. The plant has accumulated significant debt,...
Vedanta's demerger gets the go-ahead from India's leading stock exchanges
On July 31, 2024, Vedanta Ltd. announced it had received clearance from the leading stock exchanges, BSE and NSE, for its proposed demerger. The approval marks a crucial step in Vedanta's plan to split into six independent listed companies, including aluminium, oil, and gas. According to a regulatory filing by Vedanta, BSE and NSE issued letters on July 31, 2024, and July 30, 2024, stating they have "no objections/no adverse observations" regarding the proposed scheme. Following these clearances, the company is set to apply with the National Company Law Tribunal (NCLT). "The scheme remains subject to receipt of other applicable statutory and regulatory approvals, including inter alia from the National Company Law Tribunal and the respective shareholders and creditors, under applicable...
Arrow Minerals expands presence with acquisition of Niagara Bauxite Project
Arrow Minerals Limited is pleased to announce a significant step forward in its expansion strategy with the entry into a Share Purchase Option Agreement (the Agreement) to acquire the Niagara Bauxite Project situated in Guinea. Guinea is currently the world's largest exporter of high-grade, low-impurity bauxite, and this acquisition marks a significant milestone for Arrow Minerals. Arrow Minerals Limited, listed on the Australian Stock Exchange, is an exploration and development company focused on delivering long-term shareholder value by discovering economic mineral deposits in West Africa. Strategic expansion in bulk commodities The Niagara Bauxite Project is recognised as an advanced asset with a rich exploration history. Located just 100 km from the Simandou railway, set for...
EU carbon tax proposal offers no real benefit for Indian exporters: Think Tank GTRI
In a recent statement, the Global Trade Research Initiative (GTRI) highlighted that the European Union's suggestion for India to impose a local carbon tax as a workaround to the EU's upcoming carbon tax would offer little respite to Indian industries. Despite implementing a similar domestic levy, Indian exporters would still face the EU's Carbon Border Adjustment Mechanism (CBAM) for their European shipments, GTRI explained on July 31, 2024. GTRI aims to create high-quality, transparent outputs for governments and Industries on trade, technology, and investment issues from the development and inequality reduction perspective. The core issue lies in the economic disparity between countries. Carbon prices typically reflect a nation's economic standing, meaning that introducing a local...
Rutronik expands portfolio with KEMET’s aluminium polymer rectangular capacitors
KEMET's aluminium polymer rectangular capacitors, part of the APL90 series, have now been added to the Rutronik portfolio. These uniquely AEC-Q200-qualified capacitors are designed to meet the stringent demands of 48V vehicle applications and platforms requiring compact designs. The Florida, United States-based KEMET Corporation, a subsidiary of Yageo Corporation, is a leading manufacturer of a broad selection of capacitor technologies. These include tantalum, aluminium, multilayer ceramic, film, paper, polymer electrolytic, and supercapacitors. KEMET's diverse range of products helps its customers build a better tomorrow. The series currently offers a high capacitance of 1,100µF and a rated voltage of 63VDC, coupled with good vibration resistance and high ripple current capability....
Rio Tinto's aluminium and copper division strengths offset decline in iron ore earnings
The global mining and metal giant Rio Tinto has demonstrated impressive performance in aluminium and copper, compensating for declining iron ore earnings and increased labour costs in Australia. For the six months ending June 30, the company reported a profit after tax (PAT) of $US5.8 billion ($A8.9 billion), showing a slight increase from $US5.1 billion the previous year. Underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation) rose 3 per cent to $US12.1 billion ($A18.5 billion), reflecting the company's strong operational performance. Rio Tinto Chief Executive Jakob Stausholm said, "Rio Tinto is both consistently profitable and growing. This is being driven by the disciplined investments we are making to strengthen our operations and progress major projects...
Bauxite-rich Guinea redrafts political landscape with new constitution
Guinea's military leadership has introduced a draft constitution to reduce presidential terms and limit the number of terms a president can serve the West African nation with the world's largest bauxite reserves on record. The proposed changes, announced by Jean-Paul Kotembedouno, spokesperson for the National Transition Council's constitution commission, seek to shorten the presidential term from six years to five and restrict any individual from serving more than two terms as president in their lifetime. The draft constitution also sets age requirements for presidential candidates, who must be at least 35 years old and not older than 80. This proposal follows the dissolution of the previous constitution by General Mamadi Doumbouya after his coup in September 2021. The coup ousted former...
Canyon Resources secures mining convention for Minim-Martap Bauxite Project in Cameroon
Canyon Resources Limited has formally signed a mining convention for the Minim-Martap Bauxite Project in Cameroon. This pivotal agreement grants Canyon's subsidiary, Camalco Cameroun SA, the right to mine and export bauxite contingent upon the issuing of a mining permit for the project area. The mining convention was officially executed at a signing ceremony attended by Camalco's Chief Executive Officer, Rana Pratap Singh, and the Interim Minister of Mines, Fuh Calistus Gentry. This agreement, a testament to the extensive approval process, signifies a robust and strengthened partnership between Canyon and the Government of Cameroon, a partnership that will be instrumental in the project's success. The completion of the Mining Convention enables Canyon Resources to advance its development...
Rewiring the future: AL Circle launches its latest report, “Aluminium Wires & Cables: Insights & Forecast to 2030.”
In an era where connectivity and technology are driving innovation at breakneck speeds and modern societies utilise electricity in nearly all facets of life, transportation is powered by it, production relies heavily upon its use, and heating systems function owing to it, AL Circle has just released a pivotal report that promises to illuminate the path forward for aluminium wires and cables. Titled “ Aluminium Wires & Cables: Insights & Forecast to 2030 ,” this comprehensive analysis, directly relevant to the current industry landscape, provides an in-depth look at the industry's trajectory over the next few years. The report delves into applications, key trends, usage, emerging technologies, and market dynamics that are set to redefine the landscape of aluminium wires and cables. With...
China's industrial profits surged in June despite weak consumer sentiment
China's industrial profits experienced accelerated growth in June, despite businesses contending with diminished consumer sentiment amid an uncertain economic recovery. Official data released on July 27, 2024, indicated a 3.6 per cent year-on-year increase in profits last month, following a 0.7 per cent gain in May. First-half earnings rose by 3.5 per cent, up from the 3.4 per cent increase reported for the January-May period, according to the National Bureau of Statistics (NBS). In a separate statement, NBS statistician Wei Ning said, “Relatively rapid industrial production growth, coupled with a significant easing in factory-gate price declines since the second quarter, have promoted a stable recovery of corporate revenue.” “Meanwhile, we should also see that insufficient domestic...
DUBAL Extrusion Investment appoints Faisal Sarhan as CEO of OSE Industries
DUBAL Extrusion Investment (DEI), a wholly-owned subsidiary of DUBAL Holding (DH), has named Faisal Sarhan as the new Chief Executive Officer (CEO) of OSE Industries, a local aluminium extrusion company fully owned by DEI. Sarhan succeeds Magdy Samoul, who has served as CEO since 2012. Samoul will transition to DEI, taking on the role of an advisor focused on strategic development and project implementation. Sarhan brings extensive experience in leading strategic initiatives and implementing innovative solutions to enhance productivity and profitability. He joined OSE as Deputy CEO in November 2023 and has been instrumental in reinforcing the company’s strategic leadership and operational excellence. Prior to his tenure at OSE Industries, Sarhan spent 18 years with Emirates Global...
Vedanta Limited secures over USD 1 billion through successful QIP
Vedanta Limited, the Indian multinational mining and metal giant, has achieved a significant financial feat. The company successfully raised over USD 1 billion (INR 8,500 crore) through a Qualified Institutions Placement (QIP), as revealed in a recent stock exchange filing. The QIP, which involved 19.31 crore equity shares, was priced at INR 440 per share, a 4.61 per cent discount to the floor price of INR 461.26 per equity share. This successful issue concluded on July 19. The QIP, which saw the participation of major players in the investment industry, including the Abu Dhabi Investment Authority (ADIA), Goldman Sachs AMC, Nippon Mutual Fund, SBI Mutual Fund, UTI Mutual Fund, ICICI Mutual Fund, Aditya Birla Mutual Fund, and Mirae Mutual Fund, is a testament to the confidence these...
Planning Institute of Jamaica reports major growth in bauxite production
The Planning Institute of Jamaica's 2023 Economic and Social Survey reveals that the local bauxite sector almost doubled its output last year, significantly contributing to an 86.8 per cent growth in the mining and quarrying industry compared to 2022. This recent edition of the survey, tabled in Parliament on July 17, 2024, provides a comprehensive analysis of Jamaica's economic and social performance for the previous year. The findings highlight mining as the industry with the highest growth rate in 2023. In 2022, the mining sector experienced a substantial decline, with a -35 per cent reduction in its real value added (RVA). However, last year, mining accounted for 1.8 per cent of Jamaica's total gross RVA, up from 1.0 per cent in 2022. RVA measures an industry's contribution to a...
Press Metal Partners with Xi'an Jiaotong University for carbon capture research
Press Metal Aluminium Holdings Bhd, a Malaysia-based world-class aluminium producer, has signed a collaboration agreement with China's Xi'an Jiaotong University (XJTU) to advance carbon capture and utilisation research. This new agreement builds on a memorandum of understanding established in August 2023. The joint venture aims to create a commercially viable carbon capture and utilisation model tailored to Press Metal's manufacturing processes. Under the terms of the agreement, both Press Metal and XJTU will jointly own the intellectual property resulting from this research. Xi'an Jiaotong University has a strong track record in the field, having conducted 13 research projects on carbon dioxide capture and secured ten related patents. The project began in September 2023 and is scheduled...
CleanCarbon.ai: Simplifying CBAM compliance for Indian aluminium and steel exporters
As the European Union's Carbon Border Adjustment Mechanism (CBAM) introduces a new layer of complexity for aluminium and steel exporters, Indian businesses face a challenging regulatory landscape. This tax, aimed at addressing carbon emissions and ensuring a level playing field, has left many firms grappling with intricate compliance requirements. However, CleanCarbon.ai has emerged as a pivotal ally amid this regulatory upheaval. Founded by IIM Ahmedabad alumni Nilesh Bhattad and Rashmi Bhattad, the company offers a beacon of hope for exporters navigating the CBAM maze. Based in India, CleanCarbon.ai is dedicated to simplifying the daunting process of CBAM reporting and compliance for the steel and aluminium sectors and industries such as cement, fertilizers, and energy. A success story...
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Recycling revolution: Speira upgrades plants with advanced furnaces for low-grade scrap
Speira is enhancing its facilities in Grevenbroich and Töging in Germany by installing two new furnaces at each site and replacing the existing units with cutting-edge systems. These upgrades include four tiltable rotary furnaces designed to boost the company’s capacity for recycling challenging materials, such as heavily contaminated scrap (low-grade) and dross generated during the melting process. Speira is a leading European Aluminium rolling and recycling company. It comprises eleven recycling and production sites in Germany and Norway, as well as its own research and development. Speira recycles up to 650,000 tonnes of aluminium per year and produces around one million tons of advanced rolled products. In his role as Head of Recycling Services in Speira's other business areas and for...
China's NEV production growth signals higher aluminium consumption
According to data from the China Association of Automobile Manufacturers, Chinese new energy vehicle (NEV) production surged by 31.9 per cent year-on-year in May. The number of units manufactured climbed from 712,660 units in May 2023 to an impressive 940,000 units for the same month this year. The NEV category encompasses vehicles fully or predominantly powered by electric energy, including plug-in hybrids, fuel cell vehicles, and conventional battery-powered cars. This data was highlighted by Shen Dong of OmniSource in the United States and featured in the latest edition of the Bureau of International Recycling's non-ferrous 'World Mirror'. Shen Dong, a member of the BIR non-ferrous board, predicts a significant increase in aluminium consumption by the automotive sector, primarily...
