British-Australian resources giant Rio Tinto has announced that it will continue operating its NZ Aluminum Smelter (NZAS) at Tiwai Point on New Zealand’s South Island for at least the next 20 years. This decision follows the signing of a long-term power contract with local power companies, benefiting Marubeni Corporation, which is involved in producing low-carbon...
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The Indian Ministry of Mines reports continued growth in the mining sector in April 2024, following record production levels in the fiscal year 2023-24. Iron ore and limestone, which together account for about 80% of the total MCDR mineral production by value, showed significant increases in production. In FY 2023-24, iron ore production reached 277...
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United Oil, the British company licensed to explore for oil and gas off Jamaica’s south coast, has proposed the potential for Jamaica to engage in aluminium production if commercial quantities of hydrocarbons are discovered. This proposition was presented to potential partners during an investor evening last week, as part of the company’s strategy to secure...
READ MOREThe federal government is set to open public consultations on its green metals policy this Friday, following the release of a discussion paper. The paper highlights the potential for regions like the Hunter to benefit from industries projected to be worth up to $122 billion annually by 2040. The consultation paper focuses on clean energy-powered...
READ MORENew Zealand Aluminium Smelters (NZAS) has signed 20-year electricity agreements to secure the future of the Tiwai Point aluminium smelter. These agreements will enable NZAS to continue competitively producing high-purity, low-carbon metal, supported by a mix of renewable electricity from New Zealand’s South Island. NZAS has signed contracts with electricity generators Meridian Energy, Contact Energy,...
READ MOREHydro has commenced onsite renewable energy production at its aluminium plants in Sweden with the integration of battery storage systems. This initiative, executed by Hydro’s renewable energy company, Hydro Rein, marks the completion of phase one, featuring rooftop and ground-mounted solar panels to enhance the existing local hydropower plant. Jacob Reeckmann, Head of Sales and...
READ MOREOn May 30, SHFE aluminum and alumina futures both saw significant increases, with alumina futures rising by 2.32% and SHFE aluminum futures climbing by 2.77%. This surge followed China’s State Council issuing the “2024-2025 Energy Conservation and Carbon Reduction Action Plan.” The plan includes key tasks such as strictly controlling the new production capacity of...
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Novelis, a leading provider of sustainable aluminum solutions and the world leader in aluminum rolling and recycling, has announced the launch of a roadshow for the initial public offering (IPO) of 45,000,000 of its common shares. These shares are held by Novelis’ sole shareholder, a wholly owned subsidiary of Hindalco Industries Limited. The selling shareholder...
READ MOREGlobal alumina production decreased by 4.4% in April to 11.55 million tons from 12.09 million tons in March, according to the International Aluminium Institute. Compared to the same period last year, production fell by 0.6% from 11.63 million tons. The average daily global alumina production dropped to 385,133 tons in April from 389,903 tons in...
READ MOREAluminum-recycling company Novelis announced plans on Tuesday to offer 45 million shares in its upcoming initial public offering (IPO) at an estimated price range of $18 to $21 per share. At the midpoint of this price range, Atlanta-based Novelis aims to raise around $877.5 million. The IPO will be underwritten by Morgan Stanley, BofA Securities,...
READ MOREKEZAD Group, the largest operator of integrated and purpose-built economic zones, and Ducab Metals Business, a leading regional supplier of metals solutions, have signed a 50-year lease agreement to expand Ducab’s existing manufacturing facility in KEZAD. The agreement was signed during the Make It In The Emirates Forum 2024 in the presence of Mohamed Al...
READ MOREThe aluminum billets market has experienced robust growth in recent years, driven by demand from various industries such as automotive, aerospace, construction, and infrastructure development. In 2023, the market size was valued at $95.93 billion and is projected to grow to $104.47 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.9%. This...
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Glencore and Rusal have extended their long-term aluminum supply contract until 2025, according to a Reuters report dated May 22, citing a source familiar with the matter. The contract extension follows an agreement initially signed in 2020, which was set to expire this year. Despite the extension, the amount of aluminum traded under the contract...
READ MOREIn a significant move towards renewable energy, Vedanta’s aluminium business will no longer expand its coal-fired capacity, according to CEO John Slaven. Vedanta Aluminium, the largest aluminium producer in India, aims to increase its renewable energy usage to 30% by 2030, up from nearly 5% currently. The company presently operates 4.8 gigawatts of coal-based power...
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Rio Tinto has declared force majeure on aluminum shipments from its operations in Queensland, Australia, due to a gas shortage, as reported by Rhiannon Hoyle of The Wall Street Journal. This legal declaration excuses the company from fulfilling its contractual obligations due to circumstances beyond its control. The gas supplies to Rio Tinto’s alumina refineries...
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HSBC Research has reported a significant surge in China’s alumina spot price, which once rose 5% to reach RMB 4,100 per ton, marking a record high. This spike follows Rio Tinto’s declaration of force majeure on Australia’s alumina exports due to natural gas shortages and concerns about new supply disruptions. The force majeure is expected...
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Rio Tinto has declared force majeure on third-party contracts for alumina exports from its refineries in Queensland, Australia, due to reduced gas capacity at its operations. This announcement follows an incident on the Queensland pipeline in early March, which significantly affected gas supplies from Rio’s Gladstone facility. A company spokesman stated that the impact of...
READ MOREVedanta Aluminium announced on Monday the appointment of its CEO, John Slaven, as Vice-Chairman of the International Aluminium Institute (IAI). In his new role, Slaven will spearhead global initiatives to highlight aluminium’s crucial role in the transition to zero-carbon energy. “Aluminium has already proven itself essential in the global transition to a net zero future…The...
READ MOREChina’s imports of unwrought aluminium and related products soared by 72.1% year-on-year in April, reaching 380,000 metric tons, according to customs data released on Saturday. This figure includes both primary metal and unwrought, alloyed aluminium. From January to April, imports totaled 1.49 million tons, marking an 86.6% increase from the same period last year, based...
READ MOREStrategic Developments and Global Shifts in the Metals Industry Aurubis’ Expansion and Sustainable Initiatives in Bulgaria Launch of Solar Power Plant Construction Aurubis, Germany’s leading copper producer and the largest in Europe, has initiated the construction of a solar power plant aimed at providing sustainable energy to its Pirdop facility in Bulgaria. This solar plant...
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China’s primary aluminium production in April increased by 7.2% compared to the previous year, driven by rising prices both domestically and globally. The world’s largest aluminium producer generated 3.58 million metric tons of primary aluminium in April, according to data from the National Bureau of Statistics (NBS). Average daily output in April was 119,333 tons,...
READ MOREEQVA ASA’s subsidiary BKS Industri (BKS) has secured a new contract valued at approximately NOK 53 million (USD 5 million) for Norsk Hydro. The contract involves upgrading 120 furnaces at Norsk Hydro’s aluminum plant in Husnes, Sunnhordland, with completion expected in Q3 2025. This contract represents phase 2 of the furnace upgrade project at Husnes....
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Jindal Aluminium, a leading aluminium extrusion company, has achieved a significant milestone by producing a record-breaking 1,15,920 metric tons (MT) of aluminium extruded products in the fiscal year 2023-24. This represents a ten percent increase in production compared to the previous fiscal year, 2022-23. Known for its quality products and swift deliveries, Jindal Aluminium boasts...
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Indian primary aluminium manufacturers are projected to experience operating margin growth exceeding 25% this fiscal year, driven by robust demand, improved realisations, and a reduction in production costs due to cheaper energy and alumina. This marks a significant increase from the approximately 20% growth seen in fiscal 2024, according to a report by CRISIL. The...
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