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.
Metro Mining's Bauxite Hills expansion project to receive USD$30 million credit facility from Nebari
The Australian mining and exploration company Metro Mining Limited has revealed that it has entered into a facility agreement with US-based resource project financier Nebari Holdings' Nebari Natural Resources Credit Fund I, LP and Nebari Natural Resources Credit Fund II, LP for a Financing Facility of up to US$30 million (Financing Facility). Proceeds from the Financing Facility allow funding to expand the Company's 100 per cent owned and operating Bauxite Hills Mine in Western Cape York, Queensland. A drawdown notice has been submitted for US$20 million (A$30 million), with a further US$10 million (A$15 million) available subject to meeting certain conditions precedent. However, there are no principal repayments for the first twenty-four months, and Metro can capitalise on the first six...
Taxes applicable to the supply of aluminium foil type winding inverter duty transformers and components: AAAR
The Indian state of Gujarat's Appellate Authority for Advance Ruling (AAAR) has held that Goods and Service (GST) would apply to supply aluminium foil-type winding inverter duty transformers and components. Shilchar Technologies Limited, the appellant, manufactured power, distribution, electronics, and telecommunications transformers. The Ministry of New & Renewable Energy has given The Adani Green Energy Ltd (AGEL) the go-ahead to design and establish a solar project (UPNEDA Project) in Chitrakoot, Uttar Pradesh. The appellant secured a supply order from AGEL for 'Aluminium Foil Type Winding Inverter Duty Transformers' (IDT) along with the mandatory spares for transformers. The applicant has solicited the advanced ruling on whether the supply of the aluminium foil type winding inverter...
Canada debars Russian aluminium and steel imports
On March 10, 2023, Canada prohibited the importation of all Russian aluminium and steel products in a move that the nation stated aimed to deny Russia's ability to fund the Russia-Ukraine geopolitical crisis. Chrystia Freeland, Finance Minister, stated that Canada would do everything to cut off or limit the Russian revenue used to fund the crisis. The ban covers both finished and unfinished products of aluminium and steel. However, it would impact importing products such as aluminium sheets and containers, steel tubes and pipes. On February 24, 2023, the United States administration declared the imposition of a 200 per cent import tariff on aluminium and derivatives produced in Russia from March 10, 2023, in response to the ongoing Ukraine-Russia geopolitical, the world's largest economy...
Source Global acquires Proud Source Water, a natural alkaline water brand available in recyclable aluminium bottles
Source Global, the innovative company that generates atmospheric drinking water, has acquired the spring water brand Proud Source Water. Proud Source, a certified B Corp, sells naturally alkaline water in recyclable aluminium bottles at retailers and food service locations across the United States. Together, the businesses will offer "the first entirely renewable, sustainable bottled water," as per Source Global. The Source Hydropanel, its technology, uses just sunlight and air as inputs to produce drinking water. Cody Friesen, the Founder and CEO, said, “Our Hydropanels allow us to establish a source of clean, sustainable water almost anywhere on the planet, without the need to extract from existing freshwater resources”. “The technology is powered entirely by the sun, and the water is...
ICF to manufacture Vande Bharat aluminium car body trains
The Integral Coach Factory (ICF) in Chennai designs and develops Indian Railway's first semi-high-speed train, Vande Bharat Express. It features world-class services and amenities and is sleek, modern, and fully air-conditioned. Vande Bharat Express is a special train representing the best Indian technology and engineering. Its fusion of speed, comfort, and luxury has made it a popular choice among passengers and will undoubtedly play a significant role in the future of Indian Railways. BC MaIlya, the General Manager of Integral Coach Factory (ICF), Chennai, said, "We will be shortly doing the sleeper version of the Vande Bharat, which will be suited for long-distance travel. So the next thing which will happen is the sleeper version of Vande Bharat. We want to roll out a few trends this...
GITC declines to waive anti-dumping tariffs on Asadtek Group's Chinese aluminium components
The Ghana International Trade Commission (GITC) has denied a petition for a waiver of 35.77 per cent Anti-Dumping Duty (ADD) imposed on consignments of aluminium coils and circles imported from China by the Asadtek Group of Companies. The GITC stated, “The imported consignments were not brought into Ghana at fair values, hence constituted dumping”. Asadtek Group, headquartered in Ghana's port city Tema, has extended excellence and success in the aluminium products space into manufacturing roofing products, Kitchenware, etc. On June 30, 2023, the company petitioned the Commission to request a waiver of 35.77 per cent Anti-Dumping Duty (ADD) imposed on its consignments. ASADTEK claimed that the consignments of aluminium coils and circles were not dumped. In a statement signed by its...
Guinea Bauxite Company awards railway sleepers' contract to British Steel
Guinea Bauxite Company, the miner of the world’s largest bauxite reserves, signed a supply contract with British Steel for steel railway sleepers. British Steel has announced that it has won its largest-ever order for rail sleepers with a significant export deal for West Africa. In accordance with the agreement, 244,000 steel sleepers will be exported to Guinea, where they will be used to modernise a railway line at a bauxite mine. British Steel claimed that its steel sleepers, produced at its Scunthorpe plant, were 100 per cent recyclable and offered track operators a more dependable and affordable solution. Steel sleepers are more robust and long-lasting than wooden sleepers, which are typically utilised in African locations. The steel company’s contract with the Guinea Bauxite Company...
Egyptalum plans to invest $34.5 million in new projects next fiscal year
On March 7, 2023, according to our report from the MENA region, the state-owned Egyptian Aluminium Company (Egyptalum) is planning to invest nearly $34.5 million (1.05 billion Egyptian pounds) in projects in the next fiscal year starting on July 1, 2023. As per the data posted on Egypt's stock exchange and reported by our source from the region, the company is encouraged by a resurgence in profits and an anticipated leap in aluminium sales and net profits for the 2023–2024 fiscal year. It has also been reported that the company, which is the largest aluminium producer in Egypt and operates one of Africa's largest smelters, expects net earnings of nearly $114 million (3.5 billion pounds) in the fiscal year 2023-2024, far exceeding the anticipated profits of $34.7 million (1.6 billion) in...
Alba ranked as the world’s largest aluminium smelter ex-China in 2022: Wood Mackenzie
The five-decade-old aluminium smelter, Aluminium Bahrain (Alba), functions excellently in operations, safety, environment, and socio-economic development and continues to be the world's largest aluminium smelter ex-China with a production of 1,600,111 tonnes in 2022, according to a recent rating released by Wood Mackenzie. Wood Mackenzie is a global research and consultancy group supplying data, written analysis, and consultancy advice to the energy, chemicals, renewables, metals, and mining industries. While commenting on Alba's ranking, the Alba'sChairman of the Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa stated: "Alba's journey of a thousand miles starts with a vision, and I take this opportunity to thank the Leadership of Bahrain and HRH Prince Salman bin Hamad Al...
Alumina refinery project proposals set for two-week deadline by Guinea
Colonel Mamadi Doumbouya, leader of Guinea's military junta, has offered the mining minister another two weeks to meet with bauxite miners and discuss alumina refinery construction plans, according to a report by Bloomberg. On March 4, 2023, the government of Guinea emailed that the mining companies must also submit their feasibility studies. Guinea has one of the world's largest reserves of bauxite, and it is of metallurgical grade as well. In order to expand its economy, the West African nation's government is trying to force bauxite exporters to build more refining capacity in the country. Guinea Alumina Corporation, a unit of Emirates Global Aluminum, Societe Miniere de Boke, and China's State Power Investment Corporation are among the companies due to submit their plans. After the...
Slovenia's Talum shuts down its primary aluminium production
The Slovenian aluminium company Talum will shut down its remaining aluminium electrolytic furnaces in April. Talum plans to shut down its remaining aluminium electrolytic furnaces in April after nearly 60 years of producing primary aluminium. The Kidričevo-based company has recently switched to aluminium processing and other more lucrative activities. The rapid rise of energy prices forced the Slovenian producer Talum to cut its primary aluminium production to around 20 per cent of its capacity in 2022. Electricity prices in Europe have increased tenfold since the beginning of 2021. Primary aluminium production is highly energy intensive, making production at some sites unviable. The Slovenian aluminium producer ranked among the top 10 exporters in the nation and has been producing 50,000...
Deripaska slams government interference with business
On March 2nd, 2023, the former President of En+ Group and the founder of the Russian aluminium giant, Oleg Deripaska, urged the Russian government to prevent it from interfering in business and rather develop a formulaic environment established on the rule of law to allure foreign investors back to Russia's sanctions-hit economy. At an economic forum in Krasnoyarsk, the former aluminium tycoon stated that he doesn't expect a "de-escalation" of the conflict with Ukraine before mid-2025. At the same time, Western investors may not return for another decade. Deripaska said he was scathing about the business climate in an economy where the Kremlin is increasingly focused on the war effort. Still, he hoped Russia could attract investors from friendly countries that have not joined the Western...
Indonesia ready to face off with China at WTO over its ban on bauxite exports
The Joko Widodo lead Indonesian government affirms that bauxite export would be prohibited from June this year. It is prepared to cope with the repercussions, including handling World Trade Organization (WTO) concerns from other nations. Bara Krishna Hasibuan, the Indonesian Trade Ministry's special staff for international trade agreements, said, "The government would not back down on the ban plan . As is known, China is Indonesia's largest export market for bauxite ore, meaning that both countries will likely go head-to-head in a WTO dispute settlement." He added, "President Jokowi said he was ready for the consequences. The Trade Ministry is also prepared to deal with any WTO dispute." However, prohibiting bauxite exports will significantly impact China, as bauxite ore exports to China...
LME bars Russian aluminium in the US warehouses
The London Metal Exchange (LME) has announced that it will suspend the issuance of warrants for aluminium metal of Russian origin from the exchange's warehouses in the United States immediately. The United States announced new tariffs on Russian aluminium on February 24 as the impetus for this action. A 200% duty was imposed on Russian-origin aluminium as well as aluminium products manufactured in third countries from metal melted in Russia. Furthermore, beginning April 1, a 70% import duty will be imposed on Russian-origin copper, nickel, lead, and aluminium alloys. LME reports that US warehouses have no Russian primary aluminium, copper, nickel, or lead. Only NASAAC (400 tonnes) exists, for which no delivery obligations exist. The exchange is suspending the use of warrants for this...
Key highlights from the global aluminium value chain, February 2023
The global aluminium industry in February 2023 witnessed some important announcements. The Russia-Ukraine geopolitical crisis marked one year in February 2023, which resulted in the White House pushing the Russian economy with new sanctions. The United States imposed a 200 per cent tariff on importing Russian aluminium into the country, including extrusion products. The other important announcement was the production resumption of the San Ciprián aluminium smelter by 2024. In 2022, the European primary aluminium sector was already forced to cut production due to the high energy prices. Activating this smelter will help the industry add some numbers to its output. In comparison, the Yunnan province of China declared the regional aluminium smelters to cut production due to the hydropower...
FIMI Machinery delivers CTL 975 to Becker Aluminium-Service GmbH
The Italian company that stands out in the world metal industry, FIMI Machinery has announced the delivery of CTL 975 to Becker Aluminium-Service GmbH. Becker Aluminium is one of the leading German service centres, active in processing and supplying of aluminium flat products which equipped itself with a multiform levelling and cutting line for its headquarters in Böhnen in 2018. FIMI Machinery is known for its specializing in the design, construction and commissioning of plants and machines for processing coils of the highest quality and advanced technology enabled to guarantee consistent high performance. The scope of installation at Becker Aluminium was to enhance the performances and the sheet metal cutting quality for automotive manufacturers and their subcontractors by utilizing...
Fonnov Aluminium launches seamless aluminium tubes for hydrogen fuel vehicles
The high-quality aluminium extrusion company and leading professional extrusion manufacturer in China, Fonnov Aluminium, has introduced a new product to its fleet of customized aluminium extrusion products designed to increase the proficiency of hydrogen fuel vehicles. Since its debut in 2015, vehicles powered by hydrogen have advanced significantly. They initially encountered several difficulties, including the need for additional infrastructure for refuelling, high prices, and a constrained range. However, technological advancements have addressed these issues, and hydrogen-fuel vehicles are becoming more popular. Hydrogen fuel cell cars are quiet, energy efficient, produce no emissions, and have equivalent range and performance to gasoline counterparts. They are eco-friendly and a...
Evonik to invest in fumed alumina production in Japan for EV batteries
The second largest chemicals company in Germany, Evonik, and also one of the largest speciality chemicals companies in the world, is investing multi-million euros in expanding production facilities for fumed alumina at its Yokkaichi site in Japan. The material will be used as an ultrathin coating for battery separator foils. This facility will be the German chemical company's first alumina asset in Asia, designed to produce speciality lithium-ion battery technologies for electric vehicles. Evonik revealed that construction will begin in the summer of 2023, while commercial operations will start in 2025. The project will also create additional jobs. However, the Japanese government subsidy is yet to be disclosed. Japan's automakers are at a fork in the road as the world shifts to electric...
