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.
India's aluminium sector seeks $29 billion investment for net-zero carbon goals, CEEW finds
A study by the Council on Energy, Environment, and Water (CEEW) suggests that India's aluminium sector requires an additional investment of roughly $29 billion (INR 2.2 lakh crore) in capital expenditure (CAPEX) to attain net-zero carbon emissions. The research underscores that renewable energy (RE) has the potential to reduce 49 per cent of the industry's emissions. However, the study notes that depending entirely on RE poses challenges due to its intermittent availability. In the fiscal year 2019-20, the Indian aluminium industry , integral to both the power sector and economy, discharged 77 million tonnes of CO 2 . Predominantly, 80 per cent of these emissions stemmed from electricity usage. A research project reveals that transitioning to a net-zero emissions aluminium industry would...
Will the EU's carbon levy prove ineffective? Wood Mackenzie's study raises doubts, advocates comprehensive approach
According to a recent report from Wood Mackenzie, the European Union's (EU) introduction of a Carbon Border Adjustment Mechanism (CBAM) in the primary aluminium market could have a disproportionate impact on European producers, potentially leading to increased prices for consumers. The report "CBAM and aluminium: Unveiling the nuances" highlights a critical gap in the current CBAM framework: it solely accounts for direct emissions from smelters, neglecting indirect emissions from power generation. Consequently, this setup disproportionately affects older European smelters compared to newer facilities elsewhere globally. Uday Patel, the Principal Aluminium Analyst at Wood Mackenzie, said, “The implementation of the CBAM in the EU will inevitably lead to higher aluminium prices for EU...
China Hongqiao Group achieves modest revenue growth of 1.5% with increased sales in aluminium and alumina
China Hongqiao Group Limited, one of the world's largest aluminium producers , released the audited consolidated annual results for the Company and its subsidiaries, covering the fiscal year ending December 31, 2023. According to Antaike's statistics, global primary aluminium output reached around 70.46 million tonnes during the year, a 2.2 per cent increase from the previous year. Global consumption also rose, reaching approximately 70.14 million tonnes, reflecting a 0.9 per cent increase. Turning to China, primary aluminium production during the same period amounted to about 41.66 million tonnes, showing a 3.3 per cent year-on-year increase and constituting roughly 59.1 per cent of the world's total production. Meanwhile, China's primary aluminium consumption stood at approximately...
Industrial profit slide in March raises questions about China's economic recovery pace
According to official data released on April 27, 2024, industrial profits in China fell short in March and showed reduced growth for the quarter compared to the preceding two months. This raises concerns about the robustness of the recovery in the world's second-largest economy. In the first quarter, China's industrial firms saw a 4.3 per cent increase in cumulative profits, reaching RMB 1.5 trillion ($207.0 billion), as per data from the National Bureau of Statistics (NBS). This growth rate is slower compared to the 10.2 per cent rise observed in the initial two months of the year. In March, profits experienced a 3.5 per cent decline compared to the previous year. While the National Bureau of Statistics (NBS) didn't provide a breakdown of monthly figures for January and February, they...
Metro Mining's Ikamba sets sail to triple bauxite transhipping capacity
The Australian mining and exploration company Metro Mining Limited has announced that its Offshore Floating Terminal (OFT), Ikamba, smoothly departed from Weipa on April 25 th and successfully completed its mobilisation to Skardon River. On April 28 th , Ikamba commenced cargo operations, loading bauxite onto the capesize vessel, Jewel, positioned just eight nautical miles offshore. The OFT Ikamba stands as a cornerstone of Metro's ambitious expansion project, elevating its capacity to 7 million wet metric tonnes (WMT) and effectively tripling its potential transhipping throughput. This strategic addition not only bolsters the resilience of the Bauxite Hills Mine operation but also facilitates faster vessel loading, accommodating even larger vessels of up to Newcastlemax size (220,000...
EAC-PM advises India to brace for possible US stagflation effects
Sanjeev Sanyal, a member of India's Economic Advisory Council to the Prime Minister (EAC-PM), emphasised that while stagflation in the US isn't inevitable, it's a prospect India must carefully weigh. Stagflation characterises an economic state marked by a trifecta of high or increasing inflation, slowing economic growth, and steadily high unemployment. It presents a dilemma for monetary policy since actions intended to lower inflation may exacerbate unemployment. Inflation in the United States surged to its highest level in a year, reaching 3.4 per cent from January to March, a notable increase from the 1.8 per cent recorded in the previous quarter. An Indian economist and celebrated historian, Sanjeev Sanyal has played a pivotal role as a member of the Economic Advisory Council to the...
Barge owners press authorities to restart bauxite cargo handling at Mormugao Port, Goa
The owners of barges at Goa's Mormugao Port call on the authorities to reopen the port and resume handling the bauxite cargo. Mormugao Port Authority (MPA) is a venerable port nestled along the western shores of India within the picturesque state of Goa. Established in 1885, it occupies the historic grounds of a natural harbour and boasts a legacy as one of India's earliest maritime hubs. Barge owners are urging authorities to intervene and redirect cargo back to Mormugao Port instead of diverting it to Jaigarh Port. Raymond Desa, former President of the Goa Barge Owners Association, confirmed that Hindalco, the principal company transporting Bauxite Cargo, has already rerouted a ship to Jaigarh Port. Jaigarh Port, also known as Jaigad Port, is an all-weather, multipurpose port in...
Denmark's offshore wind auction set to fulfil entire national electricity demand
Denmark launched a significant offshore wind tender this week, potentially granting up to 10 GW of capacity. This could cover the nation's electricity needs and pave the way for producing renewable hydrogen and other eco-friendly fuels. The effectiveness of the auction's design in attracting investors and fulfilling such substantial capacity remains to be observed. Presently, Denmark boasts nearly 3 GW of offshore wind capacity. With the launch of the new Danish offshore auction, the goal is to integrate an additional 6 GW of offshore wind power into the grid. The auction will encompass six wind farm areas: three in the North Sea, two in the Kattegat, and one in the Baltic Sea. Developers are allowed to install a greater wind capacity in their designated areas than initially outlined by...
Québec's first CO2 mineralisation storage project unveiled by Deep Sky and Carbfix
Montreal-headquartered Deep Sky, a specialist in carbon removal projects, and Carbfix, a pioneer in CO 2 mineral storage solutions, have joined forces to investigate the feasibility of CO 2 mineral storage in Canada. A preliminary study assessing Quebec's reservoirs for CO 2 mineral storage is set to be completed by June. The research entails analysing geological and geochemical data from underground sources and conducting laboratory investigations on ultramafic rock formations found in various areas throughout Québec. This collaborative effort aims to evaluate the geophysical characteristics of these rocks, including porosity and permeability, to determine their reactivity and identify suitable sites for injection and monitoring wells. The gathered data will assess the feasibility of...
Alumtek Minerals unveils technology to extract critical raw materials from bauxite residue
Alumtek Minerals (AM), an Australian-based company, has recently concluded extensive research and development focused on bauxite residue waste, also known as red mud. This endeavour has led to the creation of cutting-edge technology capable of extracting critical raw materials from this waste. AM has successfully developed a supplementary cementitious material (SCM) that meets the rigorous Australian Standard AS3582.4 through a collaborative effort with Cement Australia. This innovative material holds great promise in significantly reducing CO 2 emissions within the cement industry. Alumtek Minerals specialises in processing mining tailings, particularly bauxite residue . Leveraging proprietary technical methods, it is advancing commercialisation efforts to extract rare earth elements and...
BALCO adopts 'Bogie Open Bottom Rake' to enhance supply chain efficiency
The Indian primary aluminium producer, BALCO, has introduced its inaugural Bogie Open Bottom Rapid Discharge (BOBRNHSM2) Rake into its operations. This milestone signifies another stride towards fostering an effective and sustainable supply chain for acquiring vital raw materials. BALCO is part of Vedanta’s Aluminium Business, a division of Vedanta Limited, India’s largest aluminium manufacturer. However, this strategic incorporation will streamline the transportation of coal supplies via rail, eliminating the requirement for approximately 120 trucks per rake and greatly amplifying operational efficiency. Part of the Indian Railways' General Purpose Wagon Investment Scheme (GPWIS), this initiative focuses on enhancing the distribution of coal resources to improve the domestic supply chain...
LME clamps down on traders profiting from Russian aluminium amid sanction compliance
On April 24, 2024, the London Metal Exchange (LME) took action to prevent traders from exploiting rule changes by prohibiting taking Russian aluminium from its approved warehouses and returning it for profit. Earlier this month, the US and Britain prohibited the London Metal Exchange (LME) from accepting new Russian production of aluminium , copper, and nickel. The move is intended to decelerate Moscow's financial situation concerning the Ukraine-Russia geopolitical crisis. The London Metal Exchange has implemented a prohibition on Russian aluminium , copper, and nickel generated after April 13 in adherence to sanctions imposed. LME regulations prior to April 13 distinguished between two types of Russian warrants, Type 1, and Type 2. This allowed for profitable "rent deals" by enabling...
Montenegro opens tender for red bauxite exploration in Niksic
Southeastern European nation Montenegro's energy ministry said it had opened a tender to award a concession for the exploration and exploitation of red bauxite in the western municipality of Niksic. The ministry said in a tender invitation on April 22 that the concession area covers some 6.443 million square metres near the village of Kuta within the Vojnik-Maganik ore region. If the percentage of iron oxide in a bauxite sample is higher, it is called red bauxite. The concession period will be determined based on the estimated reserves of red bauxite, annual exploitation capacities, and market demand, with a maximum duration of 30 years, as stated in the document. Prospective bidders are required to provide a bank guarantee of 20,000 euros ($21,300). The deadline for bid submissions is...
Stephen Roach's bold claim, 'Hong Kong is Over'
Stephen Roach, the former Chairman of Morgan Stanley, Asia, has publicly pronounced "Hong Kong is over." Roach, now an analyst focusing on the economy of the former British Crown Colony, which is presently a special administrative zone of China, highlights Law 23 as its primary concern. This law subjects Hong Kong to stringent Chinese security measures and criminalises even verbal criticism of Beijing or the government. Once a thriving metropolis in Asia, Hong Kong is mired in deep pessimism as a profound malaise takes root. Hong Kong's famous stock market languishes in stagnation while housing prices plummet, and an exodus of talent exacerbates the brain drain in both scientific and economic sectors. Many upscale establishments, including restaurants, bars, spas, and shopping malls, have...
Majority of top Indian firms step up, voluntarily disclose carbon emissions: PwC survey
In support of the Indian government's pursuit of a net-zero emission target by 2070, a PwC India survey reveals that 51 per cent of the top 100 companies have initiated voluntary disclosures regarding their carbon emissions. Additionally, the survey highlights that approximately 31 per cent of these companies have outlined their net-zero targets. Government and regulatory bodies have implemented new regulations regarding ESG (environmental, social, and governance). India's adoption of BRSR Core standards positions it as a leading player in the global shift toward a more credible and transparent landscape for sustainability reporting. The BRSR Core framework is enforced by the Securities and Exchange Board of India (SEBI) to encourage listed entities to disclose their environmental,...
Hydro Extrusions' third press line goes operational in Rackwitz
Hydro Extrusions recently bolstered its extrusion capabilities in Rackwitz, Germany, with the introduction of a third extrusion press line, officially operational in late 2023. This €11 million initiative encompasses the installation of a cutting-edge 22 MN, 8-inch upcycled extrusion press, complemented by an energy-efficient aging oven. This strategic investment underscores Hydro's commitment to the strong German market. The newly integrated P22 extrusion press line significantly augments production capacity for superior-quality intricate extruded profiles. This enhancement empowers the Rackwitz facility to effectively cater to escalating demand across construction, transportation, and general mechanical engineering sectors. Furthermore, deploying this state-of-the-art line underscores...
Jamaica Bauxite Institute commits to long-term collaboration for sector advancement
The Jamaica Bauxite Institute (JBI) has affirmed its commitment to ongoing collaboration with stakeholders to enhance the efficiency of the bauxite industry. According to a statement released on April 22, 2024, the JBI intends to achieve its objectives by furnishing research-based guidance to industry participants and participating in initiatives aimed at safeguarding bauxite lands from depletion. Further insights into these collaborative efforts were provided in the Jamaica Public Bodies Estimates of Revenue and Expenditure for the fiscal year ending March 2025. The document stated, “Accordingly, during the 2024/25 financial year, the JBI will conduct research in a bid to develop an efficient procedure to treat with the processing of bauxite and extraction of commercial minerals, with...
Revving up or slowing down? Public response key as electric vehicle subsidies evolve
Government policies and subsidies have been instrumental in fostering the growth of the electric vehicle market. However, as these incentives are phased out and policies evolve, the public will increasingly shape the future market adoption trajectory. As electric vehicles (EVs) become increasingly common on roads, the number of charging points is also rising. This trend is expected to continue as nations strive to reduce emissions in alignment with net-zero goals and internationally agreed temperature targets. The United States recently introduced more stringent national pollution standards for passenger cars and light-medium vehicles. These standards mandate a 56 per cent reduction in tailpipe pollution and vehicle carbon emissions by 2032, based on 2026 levels. While this doesn't...
