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.
Korean automaker Hyundai Motor inks aluminium supply agreement with Indonesia's Adaro
On November 13, 2022, the Indonesian large-cap house Adaro stated that PT Adaro Minerals Indonesia Tbk inked a memorandum of understanding (MoU) with South Korea's auto giant Hyundai Motor Company on aluminium supply for automobile manufacturing. In Bali, Indonesia, a Memorandum of Understanding was signed on the sidelines of the G20 summit. The MoU stated, "Hyundai would secure the right to purchase aluminium produced by Adaro's subsidiary PT Kalimantan Aluminum Industry at an early production stage and then the first negotiation right to procure low-carbon aluminium produced by KAI in the future with undetermined offtake volume in the range of 50,000-100,000 TPA.” PT Adaro Energy Indonesia Tbk is the second-largest coal miner in the country by production volume and its largest by market...
Decarbonization isn't restricted to aluminium, cement among others needs to follow zero carbon path: COP27
The 2022 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP27, is the 27th United Nations Climate Change Conference and is being held from November 6 until November 18 2022, in the Egyptian resort town, Sharm El-Sheikh. At COP27 and beyond, the United States stimulated countries – distinctly significant economies – and the private sector to implement existing commitments and goals and enhance obligations and goals to help close the gap between current pledges and what the latest science tells us is urgently needed. John F. Kerry, the former US Secretary of State and now the US's first Special Presidential Envoy for Climate opened the First Movers Coalition Leaders panel as it came together at COP27 to provide a progress...
Russian metal will not be barred from trading, reports LME
On November 11, 2022, the London Metal Exchange (LME), one of the world's largest commodities exchanges, announced that it would not bar Russian metal from being traded and stored in its system due a vital segment of the market is still planning to procure Russian metal in 2023. Russia is one of the world's largest producers of aluminium and nickel. Sanctions imposed on some Russian companies following the Russia-Ukraine geopolitical crisis have not targeted these metals or the companies that produce them. However, in October 2022, the world's oldest and largest market for industrial metals exchange floated a discussion paper on the topic, seeking a market opinion on the possibility of prohibiting Russian metal. LME stated, "The LME does not propose at this time to prohibit the warranting...
The European aluminium market might counter a downcast at the start of 2023
The entire European aluminium market is currently streaming through a disquiet following a moreover better H1 2022. During the first quarter of 2023, the manufacturing industry is expected to counter a very gloomy prospect. While delivering their ambitious purchasing strategies earlier in 2022, many customers have overbooked themselves and will be seeking to delay deliveries in 2023. Although spot energy prices have fallen back in the past month, they remain far above the levels being paid by manufacturers under previous term contracts, many of which will expire in the new year according to market analysts. Manufacturers will face huge price jumps for their power needs, even if spot prices fall further in the near term or if EU governments impose energy price caps. In Q1 2023, few in the...
OPCL acquires 80% stake in Ghana Bauxite Company, replacing Bosai Minerals
The Ghanaian holding company, Ghana Integrated Aluminium Development Corporation (GIADEC), dealing with all government investments and interests in the nation's integrated aluminium business, has introduced OPCL as the new majority shareholder of Ghana Bauxite Company (GBC) to the traditional leaders, Chiefs and people of Ahwiaso and Sefwi Bekwai in the Western North region. A 100 per cent owned Ghanaian company, OPCL, in March 2022, acquired 80 per cent shares in GBC, which a Chinese mining giant previously held, Bosai Minerals Group Limited, while the remaining 20% is owned by the Government of Ghana (GoG). The Chinese mining firm Bosai Minerals backed out of operations and left the country. The traditional leader, who doubles as the President of the National House of Chiefs, made...
Aluminium sector's impact exceeds £7.4 billion, the metal will play a vital role in achieving net zero: ALFED
According to a leading sector expert, the UK's aluminium industry has a 'once in a generation' opportunity to drive sustainability, the circular economy, and the transition to Net Zero. Tom Jones, the CEO of the Aluminium Federation (ALFED), made the rallying call after the release of the organisation's latest report reveals more than 39,000 people are directly employed in this manufacturing discipline, with a total GVA of nearly £3 billion. Undertaken in partnership with the Fraser of Allander Institute, the document uses an economic model that predicts the sector’s real value is closer to £7.4 billion and supports the employment of 104,000 full-time jobs when considering the indirect impact of this unique material. The former toolmaking apprentice, who spent 35 years working at several...
MENA region leading investment fund envisions India’s resources will propel GDP growth
A leading investment fund in the MENA region focused on unlocking a positive future for the region, and beyond, the Dubai Investment Fund (DIF) asserts that India's untapped resources will need to be explored to navigate the nation's demand for new infrastructure and facilitate the housing bubble. The international asset management company headquartered in Dubai says India enjoys a notable cost advantage in producing aluminium and steel. However, due to its beneficial position, it has the advantage of export probability to rapidly growing markets in Asia. As of 2022, The total number of mines in India that filed reports is expected to attain 1,425, with 720 mines filing reports for non-metallic minerals and 525 mines for metallic. The mining industry's proliferation is essential for a...
Mines Awards Guinea awarded Rusal with best performance in the 2022 first edition
On November 5, 2022, as part of its first 2022 edition, Mines Awards Guinea organized in Conakry at the national capital, a ceremony to reward the best companies and leaders operating in the Guinean mining sector, as well as the localities exploited for the excellent use of taxes paid to them. This event occurred in a local hotel receptive and brought together several personalities from multiple public and private administrative sectors in Guinea. Mining giants such as RUSAL have benefited from trophies in Guinea. According to our report from West Africa, several other key mining players have also received distinctions. The Mines Awards Guinea aims to recognize mine safety records in Guinea. The Mines Awards Guinea intends to award prizes every year, as a reward, for mining actors'...
Environmental Trust Ireland initiates High Court proceedings against expansion of the Limerick Alumina
Environmental Trust Ireland, a voluntary, not-for-profit Irish Environmental Organisation, has initiated High Court proceedings against the proposed expansion of the Aughinish Alumina refinery in County Limerick. The An Bord Pleanála approved proposals to expand the area where bauxite residue - a waste product of alumina production, also called "red mud" - is stored in September 2022. Committed to safeguarding the environment and advancement and promoting environmental protection, conservation of the natural and built environment, biodiversity, wildlife, ecosystems and cultural and heritage preservation, Environmental Trust Ireland, headed by Limerick City solicitor Michelle Hayes, has initiated judicial review proceedings against An Bord Pleanála and Aughinish Alumina Ltd over the...
OBCL secures $18 million contract from Vedanta for aluminium transportation
The logistics firm specializing in Full Truck Load (FTL) services, Orissa Bengal Carrier (OBCL), which has served satisfactorily in the past decade, has inked a contract with mining and metal giant Vedanta to transport finished aluminium items. On November 3rd, 2022, OBCL stated, "The agreement is worth approximately $18 million (INR 150 crore), with a one-year term." "As a part of the agreement, OBCL would transport finished aluminium items to western business clusters." The leading aluminium producer of India, Vedanta, operates aluminium smelters in Chhattisgarh and Odisha. The founding stone of Odisha-Bengal Carrier Limited (OBCL) was laid down in 1994 by Ratan Kumar Agrawal. In the past decade, OBCL has evolved as the signature brand of the Indian transport industry, and it has played...
Constellium to join the 'First Movers Coalition', accelerating aluminium's decarbonization journey
On November 4, 2022, the global leader in developing innovative and value-added aluminium products, Constellium SE, announced that it is joining the First Movers Coalition (FMC), a global initiative to accelerate zero-carbon technologies and reduce carbon emissions. In a global initiative led by the World Economic Forum and the US Government, the First Movers Coalition (FMC) leverages companies' combined purchasing power to decarbonize hard-to-abate sectors. It has been joined by more than 50 companies to drive more green demand and low-carbon technologies and to advance climate change conservation. Jean-Marc Germain, the CEO of Constellium, said, "We are proud to join the First Movers Coalition and to contribute to a faster decarbonization journey for the industry. Aluminium is fully and...
Alba stresses the importance of proposed line 7 project, stating aluminium is the metal of the future
The Chairman of the Board of Directors of Aluminium Bahrain B.S.C. (Alba), Shaikh Daij bin Salman bin Daij Al Khalifa, met with Bechtel’s President of Mining & Metals Global Business Unit Ailie MacAdam, Bechtel’s President of Europe, Africa, and Middle East Region Justin Siberell and Bechtel’ Regional Manager Mark Ashwin on the side of Gulf Aluminium Council Dinner at Ritz Carlton, Bahrain along with Alba’s CEO Ali Al Baqali to discuss areas of cooperation including the proposed line 7 project. While speaking on the importance of the proposed line 7, the Chairman of Alba’s Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa stated: “Aluminium is the metal of the future, and we are here to continue making it available through our soon-to-be investment in Line 7.” "Moving ahead...
Vedanta Alumina endorses Waste-To-Wealth MSMEs in Odisha
India's leading premier metallurgical grade alumina producer, Vedanta Alumina, Lanjigarh, is encouraging Waste-To-Wealth MSMEs in the Kalahandi district of Odisha. It has been supplying lime grit to local brick manufacturers, enabling the circular economy to turn industrial waste into value-added products. In the production of alumina, lime grit is produced by refining bauxite. The product can be used for several purposes, such as whitening paper, poultry feed, and even as a substitute for gypsum. The Vedanta Alumina refinery in Lanjigarh produces about 10,500 tonnes of lime grit every year, out of which nearly half is repurposed within the refinery. Another industrial by-product created by the company is fly ash, which is generated during thermal power generation. However, to ensure...
Bauxite shipments from Guinea gain momentum as China's reserves deplete, advantage for capesize segment
The soaring energy prices in Europe have caused a severe impact on aluminium production and shifted output to China. However, due to China’s increasingly depleted bauxite reserves, this repositioning has increased bauxite shipments, benefitting the West African nation, Guinea, the world’s largest exporter of bauxite, which accounts for around half of traded volumes and has seen a 14.9% growth in bauxite shipments by now in 2022. As a result of growth in bauxite and coal volumes, capsizes have been relieved this year. A decline in Chinese iron ore demand and reduced congestion has caused the Baltic Exchange's Capesize 5TC index to fall on average 50.6 per cent Y-o-Y. Filipe Gouveia, the shipping analyst at BIMCO, said, "Weaker iron ore demand led operators to relocate ships to alternative...
Unfavourable ratings by Moody's led Vedanta Resources to conclude the engagement
On November 3rd, 2022, London-based Vedanta Resources, the holding company of India’s Vedanta Limited, discontinued the rating services of Moody’s after the latter lowered the company’s ratings on debt concerns. Commodity tycoon billionaire Anil Agarwal led Vedanta Limited, India's leading aluminium producer, and diversified to other natural resources. It is the most extensive mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries. According to a statement released on November 3rd, 2022, late evening India time, Vedanta said: “Vedanta Resources Limited hereby announces that it has today given notice to Moody’s Investor Services to discontinue its rating engagement and to withdraw all the outstanding...
Ghana welcomes Bedeschi shiploaders, bauxite and manganese handling efficiency to increase
According to our report from West Africa, almost all of the unloading operations for two Bedeschi shiploaders and one echopper shipped fully erected from Jebel Ali Port, Dubai to Ghana Takoradi Port have been accomplished. Jebel Ali is a deep port located in Jebel Ali, Dubai, United Arab Emirates and is the world's ninth busiest port, the largest man-made harbour, and the biggest and by far the busiest port in the Middle East. Bedeschi SpA was established in 1908 and is today one of the oldest European companies specialising in the creation of turn-key solutions for bulk handling material, mining, etc. The machines will soon commence installation and operation, with the machines being pushed into their correct positions. Specifically, the scope of the project is to provide handling...
Capral offers low-carbon aluminium LocAl® to Australian manufacturers for accessing sustainable projects
Australia's leading provider of aluminium products and associated services, Capral, introduced LocAl®, a lower-carbon primary aluminium option available across Capral's locally manufactured extruded aluminium products. The nation's largest extruder provides Australian manufacturers access to cleaner, greener, more sustainable aluminium for their projects. The LocAl® offer includes two low-carbon aluminium options amongst the lowest carbon aluminium available globally: LocAl® Green with carbon emissions of 8kg CO2e/kg Al* LocAl® Super Green at 4kg CO2e/kg Al* As part of Capral's 2022 commitment to reach net-zero emissions by 2050, the company is driving rapid innovation and cultural evolution throughout the organization, particularly within procurement and operations. LocAl® represents a...
Top Newsmakers for October 2022: Assan Alüminyum plans to launch a facility in the US with an investment of $460 million; Joe Biden's administration considering a complete ban on Russian aluminium
This October 2022, the global aluminium value chain has seen some of its most exciting events ever. One of the world's leading manufacturers in the flat-rolled aluminium (FRP) industry, Assan Alüminyum announced its plans to invest $460 million in the American market by establishing a facility. The company's primary aim is to satisfy American businesses' demand that adheres to the 'Made in USA' standard. While reporting on the Russia-Ukraine geopolitical crisis and its impact on the aluminium industry, according to the people familiar with the deliberations, the US administration is considering the possibility of incorporating sanctions on the Russian aluminium giant as the White House looks to chastise Russia for escalating conflict with Ukraine. On the other side, Novelis initiated...
