The World Platinum Investment Council this week referred to the momentum building towards decarbonising the global economy, starting with the December launch of the ‘Green Hydrogen Catapult' initiative.Under the UN-backed initiative, leading green hydrogen industry leaders announced a global coalition to accelerate the scale and production of green hydrogen 50-fold in the next six years.They...Read More
The IPO for the operator of Australia's second-largest drilling fleet is being managed and underwritten by Bell Potter Securities, Aitken Murray Capital Partners, Macquarie Capital, and UBS.Read More
Swick said commercial projects were key to "developing a clear pathway for the commercialisation of Orexplore's technology, and therefore for a successful demerger".Mining-Journal.com reported in November last year Swick was hoping to release IPO documentation for an Australian Securities Exchange listing of Orexplore and recapitalisation of the business.The St Barbara-Gwalia gold mine contra...Read More
World manganese ore supply fell by 6.6% year-on-year to 20.38 million tonnes of manganese units in 2020 while the Covid-19 pandemic took hold, according to the latest data from the International Manganese Institute (IMnI).All global regions reported lower production, with the largest regional output being from Africa and the Middle East at 11.68 million tonnes, down by 4% year-on-year.Supply cuts...Read More
Fastmarkets rounds up the latest logistical issues affecting supplies of metal, ores and alloys from African countries, in the period ended Thursday February 11.February 4Fastmarkets reports that South32 has declared force majeure on some manganese shipments after rail lines to its Hotazel Manganese Mines consortium were suspended under state transportation provider Transnet's force majeure notice...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 11 that are worth another look.Luxembourg-based steelmaker ArcelorMittal has decided to resume its galvanizing capacity expansion project in southern Brazil in response to fast-growing demand in the country, the company stated in its fourth-quarter earnings report published on Thursday. The project aims to increase col...Read More
A steady stream of unfunded yet highly prospective opportunities in the battery minerals space led Sir Mick Davis to form investment company Vision Blue Resources (VBR) earlier this year. After raising $60 million in the first few weeks, it has already made its first investment and more will soon follow, Davis told Fastmarkets. The former chief executive of Xstrata Plc said in an interview that ma...Read More
Turkish deep-sea scrap import prices increased again on Thursday February 11, in response to news of a fresh cargo arriving from the US, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $410 per tonne, 4,000 tonnes of shredded at $415 per tonne and 4,000 tonnes of bonus at $420 per tonne cfr.This compared with the prev...Read More
A summary of Belgian battery materials company Umicore's results for the full year of 2020 as stated in its report published on Thursday February 11. Record year for earnings and in the recycling divison. "Strongest financial performance" was buoyed by the recycling division, which showed a 92% increase in earnings before interest, taxes, depreciation, and amortization (Ebitda), thanks to stronger...Read More
With markets in China and much of Southeast Asia closed on Thursday February 11 ahead of Lunar New Year, trading on the London Metal Exchange this morning has been quiet with the base metals ranged between being down by 0.3% and up by 0.2%.The US Dollar Index remains on a back foot US 10-year treasury yields were weaker than they were at the start of the weakBase metalsThe three-month base metals...Read More
A summary of Belgian battery materials company Umicore's results for the full year of 2020 as stated in its report published on Thursday February 11. Record year for earnings and in the recycling divison. "Strongest financial performance" was buoyed by the recycling division, which showed a 92% increase in earnings before interest, taxes, depreciation, and amortization (Ebitda), thanks to stronger...Read More
Key industrial groups in Spain have set up Battchain, a consortium created to respond to surging demand for batteries in Europe at a time when the region is transitioning to greener mobility, junior miner Infinity Lithium announced on Wednesday February 10.Battchain will focus on expanding Spain's battery value chain from sourcing raw materials locally to battery recycling. The consortium is led b...Read More
How much is enough?This is a question I often hear from folks who criticize people such as Elon Musk and Jeff Bezos for being incredibly rich.The argument is that at some point, one has so much money that he or she can simply stop hoarding it and share it with others.An honorable endeavor to be sure, but certainly not something that can or should be dictated by others. Some have gone as far as to...Read More
A steady stream of unfunded yet highly prospective opportunities in the battery minerals space led Sir Mick Davis to form investment company Vision Blue Resources (VBR) earlier this year. After raising $60 million in the first few weeks, it has already made its first investment and more will soon follow, Davis told Fastmarkets. The former chief executive of Xstrata Plc said in an interview that ma...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 11 that are worth another look.Luxembourg-based steelmaker ArcelorMittal has decided to resume its galvanizing capacity expansion project in southern Brazil in response to fast-growing demand in the country, the company stated in its fourth-quarter earnings report published on Thursday. The project aims to increase col...Read More
Confirmed deals have driven hot-rolled coil prices in the United States over $59.50 per hundredweight ($1,190 per short ton), to an all-time high.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $59.63 per cwt ($1,192.60 per ton) on Thursday February 11, up by 0.98% from $59.05 per cwt the previous day and 0.68% higher than $59.23 per cwt one week ago.Inputs were...Read More
Luxembourg-based steelmaker ArcelorMittal has decided to resume its galvanizing capacity expansion project in southern Brazil in response to fast-growing demand in the country, the company stated in its fourth-quarter earnings report published on Thursday February 11.The project aims to increase cold-rolling and galvanizing capacity by 700,000 tonnes per year at ArcelorMittal's Vega do Sul un...Read More
Turkish domestic rebar and wire rod prices have increased over the past week on a rebound in scrap costs and improving demand, sources said on Thursday February 11.The producers in the country resumed their deep-sea scrap bookings on Wednesday, dragging prices up by around $10 per tonne.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $396.04 per tonne on F...Read More
Demand for steel billet and rebar was still very poor in Egypt in the week to Thursday February 11 but producers were not giving discounts because of increasing prices for raw materials, sources have told Fastmarkets.Egyptian demand for long steel products has been weak since the country imposed a ban on construction in May 2020.The rules of the ban were eased in September 2020, but that did not h...Read More
Turkish long steel export prices have gone up over the past week in line with recovering demand and increasing scrap costs, market sources said on Thursday February 11.Steelmakers in Turkey resumed their deep-sea scrap purchases earlier this week, raising prices by around $10 per tonne.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $396.04 per tonne on Fe...Read More