Impact Minerals Limited has raised approximately AUD 2.2 million (USD 1.56 million) before costs through a renounceable rights issue, providing additional funding to advance its two high-purity alumina projects in Australia. The company issued nearly 69 million new shares and approximately 46 million options under the capital raising, which was launched in August. Impact Minerals said the offer received strong participation from existing shareholders, including full take-up by its major German family office investor. Any remaining shortfall shares may be placed within three months, subject to the allocation policy outlined in the offer. Funding targets pilot and customer qualification work The fresh capital will support development of Impact Minerals’ Lake Hope and Alluminous high-purity...
The USD 4 billion Oklahoma aluminium smelter project planned by Emirates Global Aluminium (EGA) and Century Aluminum is facing a new hurdle in Inola, where the city council has extended a moratorium on smelter permits and called a referendum on the proposed facility. The 750,000-tonne-per-year aluminium smelter, announced in January, is expected to more than double current US primary aluminium production and would be the first new primary aluminium smelter in the country in almost 50 years. It would also become the largest source of primary aluminium in the Western Hemisphere. The project has taken on added importance as the US imports roughly 60 per cent of the primary aluminium it uses. Aluminium is essential to transportation, defence, aerospace and electrical infrastructure, making...
Grow with
AL Circle
Commemorating the World Environment Day on June 5, 2022, Vedanta Aluminium, India’s leading aluminium producer, said business growth and sustainable development go hand-in-hand. On the same occasion, Rahul Sharma, CEO of Vedanta Aluminium, said certain initiatives of the company related to climate led to a decrease in carbon emissions intensity at many of their smelters by about 12 per cent in FY2022. "Our climate action endeavours saw us reduce our GHG emissions intensity at our largest aluminium smelter by around 12 per cent in FY22 over the previous fiscal, while increasing our production volumes by 20 per cent," said Mr Sharma. He also said Vedanta was the first company in India to launch low carbon ‘green’ aluminium Restora, and in the process, became the nation’s largest consumer of...
Following a complaint from the Indian aluminium industry, the commerce ministry's investigative arm, Directorate General of Trade Remedies (DGTR), undertook an examination into suspected export subsidies by Malaysia on 'aluminium primary foundry alloy ingot in various forms' and recommended enforcement of the tax on January 31 this year. After evaluating the final conclusions of DGTR, the central government has chosen not to accept its recommendations, said a Department of Revenue office memorandum. Domestic enterprises claimed in an application to the directorate that subsidised imports from Malaysia are causing them significant harm and demanded the introduction of countervailing tariffs on the imports. While the DGTR proposes the duty, it is up to the finance minister to decide whether...
According to the Shanghai Metals Market, A00 aluminium ingot price in China has built up by RMB 300 per tonne on Monday, June 6, to stand at RMB 20,840 per tonne. This has marked the second consecutive hike following a rise of RMB 350 per tonne. Today, the average prices are expected to range between RMB 20,820 per tonne and RMB 20,860 per tonne, with spot contract to be traded at a discount price of RMB 60-20 per tonne. In Wuxi and Hangzhou, the primary aluminium ingot price has also climbed up by RMB 300 per tonne to come in at RMB 20,810 per tonne and RMB 20,840 per tonne, followed by a rise of RMB 290 per tonne in Foshan to settle at RMB 20,790 per tonne. In Chongqing and Shenyang, A00 aluminium ingot price has expanded by RMB 270 per tonne and RMB 260 per tonne to stand at RMB 20,790...
On Monday, June 6, the benchmark aluminium price for SHFE has soared up by US$96 per tonne or 3.14 per cent to settle at US$3,147 per tonne. The market was closed due to the Dragon Boat Festival on Friday, June 3. The most-traded SHFE 2207 aluminium closed up 1.7 per cent or RMB 345 per tonne to RMB 20,665 per tonne, with open interest down 13,330 lots to 173,373 lots. LME aluminium price The LME market was also closed due to Bank Holiday in the UK on Thursday and Friday, respectively and will resume on Monday, June 6. However, both LME aluminium cash bid price and LME aluminium official settlement price had declined by US$115 per tonne or 4.08 per cent to close at US$2,701 per tonne and US$2,701.50 per tonne on Wednesday, June 1. 3-month bid price and 3-month offer price also dropped by...
The only body representing the global primary aluminium industry, International Aluminium Institute (IAI), has publicised the appointment of Satish Pai as its new Chairman. Satish Pai is the Managing Director of Hindalco Industries, one of the world’s largest integrated aluminium producers. Previously he was serving as the Vice-Chairman and he succeeds Ben Kahrs, Alcoa Corp’s Chief Innovation Officer. The Secretary-General of IAI, Miles Prosser said “Satish is an exceptional leader who is as familiar with boots-on-ground issues as he is with geo-economic perspectives. He is well able to convert industry challenges into opportunities – strategic R&D led to Hindalco becoming the first aluminium company to achieve 100% utilisation of bauxite residue in three of the refineries.” “We welcome...
According to our report from Europe, the Spain-based works council of Alcoa Corp’s San Ciprian aluminium smelter is pressing the government body to lessen the duration of the permission procedure for new wind energy projects that generate the fodder for the power-consuming facilities. After years of toiling with high electricity bills, prevailing labour disputes and profit losses, Alcoa is now taking time to renovate its plant and get hold of more effective power purchase agreements (PPAs). Its San Ciprian smelter in the Galicia region, northwest Spain will remain downsized until January 2024 to give Alcoa some to restructure its courses. The quest for renewable energy PPAs had begun in late December 2021; right after the US aluminium producer signed a new labour agreement to retrench the...
Founded in 2006, Tamkeen, a semi-autonomous government agency in Bahrain, has collaborated with the Economic Development Board (EDB) to promote direct investment opportunities in the industrial sector. A treaty has been signed between Tamkeen Chief Executive, Husain Rajab and the Group Chief Executive of Aleastur, Sergio Martinez, with approval from other officials. Also, to secure its activities, Tamkeen has agreed upon a venture with Aleastur, a company that has just begun the GCC’s first aluminium grain refinery in Bahrain. This amalgamation points to positioning Bahrain as a healthy global hub for technologically advanced and sustainable industries concerning high-probability units like manufacturing and aluminium. The government’s economic recovery plan circulates across a few key...
The main attraction for this week’s global primary aluminium segment was RUSAL’s sustainability report. RUSAL, one of the world's largest aluminium manufacturers, released its 2021 annual sustainability report with special attention on ‘Human Focus.’ The report highlights RUSAL’s commitment towards greener aluminium and how the company is taking steps to achieve the same. Apart from this, Aluminium Bahrain (Alba), the Middle East's first aluminium smelter, opened a sales office in Singapore on May 27, 2022, as part of its endeavour to expand its footprint in the Asian-Pacific region. On Monday, LME aluminium official settlement price opened the week with a hike of US$40 per tonne to settle at US$2,863 per tonne, which went on to decline the next day by US$46.50 per tonne to close at...
Hellenic Cables S.A., one of Europe's major cable makers with a significant presence in renewable energy transmission and distribution, received low-carbon EcoLum™ aluminium from Alcoa Corporation. The EcoLum brand is part of Alcoa's Sustana™ family of low-carbon goods and has a carbon footprint of around 3.5 times lower than the industry average. The announcement was made public on June 6. The initiative was carried out to help the firm achieve its aim of a sustainable energy future. Hellenic Cables runs five production units in three countries and is a producer of power, communications, submarine cables and compounds. “We are very proud to partner with Hellenic Cables and assist them in their stated mission to develop a sustainable energy future. We know that aluminum is a key material...
According to the Shanghai Metals Market, China’s social inventories of primary aluminium extended decline on Thursday, June 2, across eight major consumption areas, including SHFE warrants. As per the data found, the inventories fell sharply by 55,000 tonnes over the week and 151,000 tonnes from the beginning of May to come in at 882,000 tonnes. The plunge in primary aluminium inventories could be attributed to the rush to pick up cargoes from warehouses. Buying enthusiasm was noticeable due to widening spot discounts in east China, whereas arrivals of stocks sent inventories in Gongyi lower. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories plummeted by 38,000 tonnes to stand at 377,000...
National Aluminium Company Limited reduced its aluminium ingot and aluminium products prices, with effect from Saturday, May 28, following two hikes on May 19 and May 25. Since the last cut, NALCO’s aluminium ingot price has come in at INR 254,250 – 257,750 per tonne, down by INR 4,800 per tonne or 1.85 per cent from INR 259,050 – 262,550 per tonne on May 25. NALCO’s aluminium billets price also saw a plunge of INR 4,800 per tonne from INR 262,500 – 265,150 on May 25 to INR 257,700 – 260,350 per tonne on May 28. NALCO also axed its aluminium wire rod price by the same amount to sell the product at INR 256,750 – 261,100 per tonne, with effect from May 28. NALCO reduced its aluminium ingot and aluminium products on May 28 in response to the LME aluminium price slump by US$58 per tonne from...
The independent commodity analyst CRU has published a new report for the European aluminium industry pointing out negative impacts of a wrongly designed Carbon Border Adjustment Measure (CBAM). According to CRU, if CBAM covers indirect emissions and removes existing carbon leakage measures, European aluminium smelters will become cost uncompetitive. The study contains the complexities of CBAM regulation and forecasts the aluminium production cost to rise by 24 to 31 per cent. The report has strategically noted the impact of CBAM on primary aluminium and selected downstream products under individual scenarios. Given the unique challenges aluminium industry faces for being an energy-intensive production process, CRU report suggests an initial trial of CBAM on direct-emissions, as originally...
In partnership with GEAR India (Gemini Equipment and Rentals Private Limited), Vedanta Aluminium, one of the largest producers of aluminium in India, stated that it has put in place India’s largest electric fleet of 27 forklifts at its Jharsuguda aluminium smelter in Odisha, which is the world's largest single-location aluminium smelter, ex-China. The forklifts were sent last month and are now operational. These forklifts are powered by lithium-ion batteries. Not only this, the company is also recruiting and training women to operate these top-of-the-line forklifts, as part of its efforts to increase gender diversity in key industrial activities. The step has been taken in line with the Vedanta’s aim to decarbonise its industrial vehicle fleet. Furthermore, these electric forklifts comes...
A00 aluminium ingot price in China has gained RMB 350 per tonne, following a sharp decline of RMB 570 per tonne on the previous day. According to the Shanghai Metals Market data, the price has come in at RMB 20,540 per tonne as of June 2, with average prices estimated to range between RMB 20,520 per tonne and RMB 20,560 per tonne. The spot contract is likely to be traded at a discount price of RMB 50-10 per tonne. Gongyi has seen the highest hike of RMB 450 per tonne to stand at RMB 20,720 per tonne, followed by the increase of RMB 350 per tonne in Linyi to RMB 20,690 per tonne. In Foshan and Wuxi, the primary aluminium ingot price has built up by RMB 340 per tonne to settle at RMB 20,500 per tonne and RMB 20,510 per tonne, while the price in Shenyang and Tianjin has expanded by RMB 330...
LME aluminium opened at US$2,792.5 per tonne on Wednesday and closed at US$2,724 per tonne, down US$65 per tonne or 2.23 percent. On Wednesday, June 1, both LME aluminium cash bid price and LME aluminium official settlement price plummeted by US$115 per tonne or 4.08 percent to close at US$2,701 per tonne and US$2,701.50 per tonne. 3-month bid price and 3-month offer price also dropped by US$120 per tonne to settle at US$2,728 per tonne and US$2,730 per tonne. December 23 bid price and December 23 offer price slumped by US$95 per tonne or 3.38 percent to score at US$2,710 per tonne and US$2,715 per tonne. For the same day, LME aluminium opening stock halted at 453875 tonnes. Live warrants and Cancelled warrants stopped at 189325 tonnes and 264550 tonnes. LME aluminium 3-month Asian...
RUSAL, one of the leading global aluminium producers, has published its annual sustainability report for 2021. The subject title of the report is "Human focus.” RUSAL has been identifying goals for further ESG business transformation over the last year after the announcement of a strategy to achieve carbon neutrality by 2050 (Net Zero) in February 2021. The Company's strategy aim is to create a new asset class in the aluminium industry, assets that will satisfy the demands of the future low-carbon economy. RUSAL devotes special attention to safeguarding its human capital in the post-pandemic period, guaranteeing safe working conditions and professional growth, appropriate payment for employees, and their quality of life in the regions where the Company's companies operate. For example, in...
On 1 st June 2022, the globally renowned diversified mining and metals company, South32 Limited announced that it has completed the acquisition of an additional 16.6% shareholding and related rights in Maputo, Mozambique based Mozal Aluminium from MCA Metals Holding GmbH (Mitsubishi). The final cash consideration of US$2002 million illustrates elevated cash and working capital adjustments at the acquisition date as the business pursues to benefit from strong aluminium prices. Following accomplishment, South32’s stakeholding in Mozal Aluminium will augment to 63.7%, with its equity share of aluminium production now anticipated to be 281kt for FY22e and 370kt for FY23e. Graham Kerr, the CEO of South32 said: "Our acquisition of an additional interest in Mozal Aluminium is another major...
A00 aluminium ingot price has plummeted by RMB 570 per tonne to stand at RMB 20,190 per tonne, as recorded by the Shanghai Metals Market on Wednesday, June 1. The average prices are estimated to range between RMB 20,170 per tonne and RMB 20,210 per tonne, with spot contracts trading at a discount price of RMB 50 per tonne and RMB 10 per tonne. The provinces in China have measured a considerable amount of price slump today, with the primary aluminium ingot price falling the highest in Hangzhou by RMB 590 per tonne to stop at RMB 20,190 per tonne. Foshan and Wuxi have suffered an RMB 580 per tonne decline. The price of aluminium ingots in Foshan has stopped at RMB 20,160 per tonne, followed by RMB 20,170 per tonne at Wuxi. The price in Linyi and Gongyi has nosedived by RMB 490 per tonne to...
