Solar Module Shipments, Revenue Down for Jinko in Q1
Citing ongoing trade disruption and decreased shipments to the U.S., Chinese module supplier Jinko on Tuesday reported a net loss of $181.7 million for the first quarter of 2025. Read More
Vietnam to Route Carbon Trading Via Securities Firms Ahead of Market Launch
Vietnam will require the trading of emission quotas and carbon credits in its domestic carbon market to be conducted via designated securities firms through the Hanoi Stock Exchange, according to a notice released Tuesday by the Ministry of Natural Resources and Environment. Read More
Maryland and Massachusetts Postpone Zero- Emission Mandate for Trucks
Massachusetts and Maryland -- two of the 10 states that passed California's Advanced Clean Truck Rule -- have delayed enforcement of the stringent emissions targets. The rule requires manufacturers of on-road medium- and heavy-duty vehicles to produce and sell an increasing percentage of zero-emission vehicles from model years 2025 through 2035. Read More
Newsom, Legislature Prioritizing Calif. Cap-and-Trade Program Extension
California Gov. Gavin Newsom announced Tuesday he along with Senate President pro Tempore Mike McGuire and Assembly Speaker Robert Rivas would work together to extend the state's Cap-and Trade Program this legislative year. Read More
Carbon Markets Mixed Monday Amid Energy Executive Order Uncertainty
California Carbon Allowance secondary market prices stumbled Monday morning, sinking further following President Trump's executive order last week targeting state-level emissions reduction efforts. Meanwhile, Regional Greenhouse Gas Initiative prices were up slightly, and Washington Carbon Allowances weakened based on lower offers. Read More
Tharisa to boost chrome output by nearly 50% in 3-5 yrs
South Africa’s Tharisa sees chrome production surging nearly 50% over the next few years from 2024’s record output, as the miner expands its Bushveld mining operations. Read More
Focus on Development, not Climate, World Bank Climate Change Team Told
The World Bank's core mission is development and language around the institution's work and investments should align more with that and not climate, according to an internal email seen by OPIS. Read More
S. Africa govt tests market appetite for rail investment
South Africa’s Department of Transport has launched a Request for Information (RFI) to test private sector interest in developing rail and port infrastructure. Transport Minister Barbara Creecy announced the launch of the online RFI portal at the weekend, noting that parties will have until 9 May to make submissions. Read More
Germany’s Bundestag Votes to Cement 2045 Net Zero Goal in Constitution
The Bundestag, the lower house of Germany's parliament, has agreed to enshrine reaching net zero carbon emissions by 2045 in the country's constitution after a two-thirds majority voted in favor of spending reforms that mark a break with its longstanding fiscal conservatism. Read More
Nearly 100 firms apply to gain South Africa rail access
Nearly 100 companies have applied to gain access to South Africa’s rail network for the first time, with Transnet estimating new locomotives and freight could start operating by the end of the year. Read More
Corning, Suniva, Heliene to Produce Fully Made-in-US Modules
Corning, Suniva and Heliene have announced a partnership they say will produce the first fully made-in-America solar modules. Read More
Singapore’s First Article 6 Carbon Credit Tender Draws $223 Million Top Bid
Global commodities trader Trafigura has emerged as the highest bidder in Singapore's first public tender for Article 6-aligned nature-based carbon credits, offering S$299.19 million ($223 million) for an undisclosed volume, as the city-state seeks to complement domestic climate action with international offsets. Read More
Group Sues Apple Over Use of REDD+, ARR Credits in Carbon Neutral Marketing
Apple misled consumers and engaged in greenwashing when it promoted its 2023 watch lineup as carbon neutral, plaintiffs alleged in a class-action suit filed in US District Court Wednesday. Read More
Paraguay Law Could Deliver Millions of Credits to Paris Agreement Market
Paraguayan President Santiago Peña signed a law on Tuesday that will bring all carbon projects in the country under one registry and manage their interplay between voluntary and Paris Agreement markets. Read More
New policies to boost Msia’s solar demand – TNB lead
The stage is set for Malaysia’s solar demand growth to pick up pace following the introduction of new government policies last year aimed at broadening access to renewable energy, said Khirul Nizam, Strategic Partnerships and Business Development Lead at Malaysian state utility Tenaga Nasional Berhad (TNB)’s New Energy Division, which oversees TNB’s overseas and domestic renewable energy portfolio. Read More
Firebird, Eramet sign MOU for manganese supply in China
ASX-listed Firebird Metals has signed a non-binding Memorandum of Understanding (MoU) with Eramet for the supply of manganese ore to its planned battery-grade manganese sulphate plant in China. Read More
S.Africa urges mineral export ban if US funding halts
South Africa's Minister of Mineral and Petroleum Resources, Gwede Mantashe, has called on African nations to withhold minerals from the United States, should US President Donald Trump make good on threats to withdraw funding from South Africa. Read More
Largest EU Parliament Party: CBAM ‘Should’ Be on Hold for 2 Years
The leaders of the European People's Party (EPP), the party with the most representatives in the European Union Parliament—the EU's legislative body—with 188 out of a total 720 seats, said the carbon border tariff that importers are expected to start paying next year "should be put on hold for at least two years." Following the EPP's leaders' retreat in Berlin over the weekend under EPP President Manfred Weber, the party published a three-page brief criticizing regulatory burdens and obligations for companies in Europe that are stymying economic growth and investment. Read More
Jupiter sets manganese price at $4.10/dmtu for March
Manganese producer Jupiter Mines, which operates the Tshipi Borwa mine in South Africa, has announced the offering price for its 36.5% semi-carbonate lump at $4.10/dmtu for March shipments. Read More
South32’s Australia GEMCO mine resumes manganese output
South32's Australia-based GEMCO mine has resumed manganese production and is on track to reach its target of 1 mt for financial year ending 30 June 2025. Read More
Singapore Seeks Nature-Based Carbon Credits in Landmark Article 6 Tender
Singapore's first public tender for carbon credits, seeking at least 0.5 million metric tons (mt) of credits from high-quality nature-based projects, positions the city-state as an early mover in government-led Article 6 transactions under the Paris Agreement, potentially setting a benchmark for the nascent global market, sources said. Read More
EU mulls safeguards against manganese alloys imports
The European Commission is investigating whether to impose safeguard measures on imports of manganese and silicon-based alloys, following complaints from member states. Read More
S.Africa govt hopes to stop ArcelorMittal plant closure
South Africa's government is scrambling to prevent the closure of ArcelorMittal South Africa's long steel business, which potentially threatens tens of thousands of jobs. The steelmaker last week announced it would shut its long steel business, after a year of talks with the government to turn around the loss-making unit. Read More
Transnet unveils framework for private rail access
Transnet’s critical rail Network Statement has been published and widely welcomed as a key enabler to facilitate third-party access to South Africa’s railway amid ongoing reform. The Network Statement, which was gazetted by the Department of Transport on 20 December, has set the framework for private sector participation in rail. Read More
ArcelorMittal to shut South Africa long steel business
ArcelorMittal South Africa (AMSA) has decided to close its loss-making long steel business and halt production by the end of the month, threatening thousands of jobs. The decision comes a year after the company first announced plans to place the operations into care and maintenance. This prompted engagements with the government wherein AMSA sought policy intervention to address structural issues affecting the business. Read More
CDC2024: Indonesia’s Carbon Market Looks to Regulatory Clarity for Growth
More regulatory clarity is needed to tap into Indonesia's carbon market potential following a moratorium on international trading that has stalled the market's growth for years, participants at the Carbon Digital Conference 2024 held Dec. 9-11 in Jakarta, Indonesia, said. Discussions at the event focused on aligning domestic standards with international frameworks and addressing barriers and opportunities to enable the market's progress. Read More
New Zimbabwe steel mill rattles S. Africa competitors
South African steelmakers are growing anxious as a new steel mill in Zimbabwe appears poised to supply into the regional market at highly competitive rates. Read More
INTERVIEW: SE Asia Drives Renewables Market: Peak Energy CEO
Opportunities abound in Southeast Asia's nascent solar market but quality still trumps quantity when it comes to project development, according to Peak Energy's CEO, Gavin Adda, undoubtedly drawing from his decades-long experience of navigating solar markets around the world. Read More
Washington Carbon Allowances Rally $10/mt; Cap-and-Invest Program to Continue
Washington Carbon Allowance (WCA) secondary market prices spiked $10/mt Wednesday morning following state voters' decision Tuesday night to maintain the Cap-and-Invest Program. Ballot measure Initiative 2117 failed with 61.69% or 1.57 million votes "no" and 38.31% or 973,000 votes "yes,” according to preliminary state results published Tuesday. The measure sought to repeal parts of Washington's Climate Commitment Act (CCA) including the Cap-and-Invest Program. Read More
ArcelorMittal seeks govt help as plant faces closure
ArcelorMittal South Africa (AMSA) has called for the government to step in to save its loss-making long steel division from imminent closure as high costs and policy take a toll. Read More
DG Fuels to Build 193-Million-Gal/Year SAF Facility in Minnesota by 2030
Biofuels producer DG Fuels plans to turn corn stover and wood waste into 193 million gal/year of sustainable aviation fuel at a facility in Minnesota by 2030, the Washington, D.C.-based company said last week. DGF's plan represents "the most significant commitment towards commercial scale SAF production in [Minnesota]," according to a Monday news release from Greater MSP, a public-private partnership that supports economic growth in Minneapolis-St. Paul. Read More
Washington State Voters to Decide Fate of Cap-and-Invest Program on Tuesday
Washington voters on Tuesday will decide the fate of the state's cap-and-Invest program ahead of what would be the program's second anniversary in January. The program has been marked by allowance price volatility and rulemaking updates as the state's Department of Ecology continues to make tweaks to balance its potential impact on retail fuel prices and its role in helping the state achieve its goals under the Climate Commitment Act. Read More
Assmang may close S.A’s only ferro-manganese smelter
Assmang is considering closing Cato Ridge Works, South Africa’s only ferro-manganese (FeMn) smelter currently in operation, due to weak market conditions and increasing electricity costs. Read More
First-Ever Sustainable Aviation Fuel Reaches Detroit Metropolitan Airport
Montana Renewables (MRL) and Delta Air Lines have introduced the use of sustainable aviation fuel (SAF) in Michigan as a 7,000+-gal shipment of SAF has been transported to the Detroit Metropolitan Airport (DTW), the companies said in a Thursday release. Read More
Manganese prices little changed following Eramet cuts
Global manganese prices are seen rangebound this week as the market seems finely balanced between weak demand and production cuts. Read More
India Approves Ten Sectors for Carbon Offset Market Rollout in Phases
India's government has approved a list of ten sectors to participate in its voluntary carbon market under the Carbon Credit Trading Scheme (CCTS), including energy, agriculture and forestry, according to a notice from the Bureau of Energy Efficiency (BEE) dated Sept. 20 and published on Oct. 15. Read More
Washington Cap-and-Invest Offsets Rule Draft Maintains Program Stringency
New draft rules for Washington state carbon offset credits show the state is maintaining a tight approach to verification and environmental justice in the emissions offsets market. Regulators on Tuesday published full draft rule language for Cap-and-Invest offsets rulemaking ahead of public meetings later this month. The state Department of Ecology would operate the offsets market more strictly than other compliance offset markets, according to OPIS analysis, highlighted by a focus on direct environmental benefits to the state (DEBS) and State Environmental Policy Act (SEPA) compliance in the draft rulemaking. Read More
Manganese seen steady after last week’s sharp drop
Global manganese prices are expected to trade in a tight range this week, taking a breather after a sharp 20% drop in high-grade ore the previous week. Read More
Delaware Receives $14.3 Million Federal Grant For I-95 Charging Projects
Delaware will receive $14.3 million in federal money to build medium- and heavy-duty electric vehicle charging infrastructure along the I-95 corridor in the state, EPA said on Thursday. Read More
Jupiter International Sticks to Solar Cell Roots Amid Expansion
India's Jupiter International is staying close to its roots as a solar cell manufacturer even as it embarks on vertical integration to navigate the country's new solar landscape, according to the company's CEO, Dhurv Sharma, during an OPIS interview at the Renewable Energy India Expo on Oct. 3. Read More
Exxaro in “advanced talks” to acquire manganese mine
In this audio interview, Exxaro Resources Riaan Koppeschaar talks about the progress on the acquisition of a manganese mine and plans to expand Exxaro's coal production at Eskom-linked Matla mine. Read More
U.K. Confirms up to £22 Billion in Funding for Two Carbon Capture Clusters
The British government is committing "up to £21.7 billion" ($28.57 billion) over the next 25 years to fund two carbon capture, utilization and storage (CCUS) clusters in the northeast and northwest parts of England, a decision that could pave the way for 8.5 million tons of carbon emissions being sequestered each year. The funding will go towards carbon capture projects in the East Coast Cluster in northeast England and the HyNet cluster in northwest England and north Wales. Read More
US Attorneys Unseal Criminal Fraud Charges Against Former CQC Executives
US attorneys and the Federal Bureau of Investigation have charged former executives of CQC Impact Investors with alleged criminal fraud for manipulating cookstove carbon project data to inflate credit issuances and secure an investment of more than $100 million, the Department of Justice announced Wednesday. The charges were brought against former CQC CEO Ken Newcombe and former CQC Chief of Carbon and Sustainability Accounting Tridip Goswami. Read More
Botswana’s Minergy finds way to export out of S. Africa
Minergy is finding a way to ship nearly 20% of its high c.v. thermal coal out of landlocked Botswana to South Africa’s ports by using backhaul trucks to save on rising logistical costs. Read More
Manganese prices seen steady as market weighs cuts
Global manganese prices appear to have found a temporary floor with prices seen little changed this week, as the market weighs weak demand against emerging production cuts. Read More
UK closes last coal-fired power plant
Uniper's Ratcliffe-on-Soar power plant, the last coal-fired facility in the United Kingdom, is closing today. The plant began operating in 1968. With the closure, UK becomes the first of the G7 economies to completely eliminate coal from its electricity generation. Read More
Kudumane rail issue limits junior manganese exports
Junior manganese miners are struggling to make use of the additional 2 mt/y in railing capacity awarded to them by Transnet amid a stand-off with Kudumane Manganese Resources over the use of its private rail link. Read More
Weak demand dampens sentiment at Eurocoke
Falling European steel output, strong steel imports and ample availability of raw materials were major themes at the Eurocoke conference in Vienna last week. Market participants told McCloskey that poor demand from Europe and Asia was forcing United States coal miners to implement both production and wage cuts, while European buyers were contending with rising stockpiles at steel mills and terminals. Read More
Manganese producers to cut output again amid price drop
Some South African manganese producers are looking to cut production again due to the sharp drop in seaborne prices over the past few months. Semi-carbonate prices have tumbled nearly 50% since hitting this year’s high of $5.55/dmtu FOB Port Elizabeth in mid-June. On Friday, the 36.5% manganese weekly price fell to a seven-month low of $2.98/dmtu. Read More
EU Climate Regulations to Catalyze Stronger Global Carbon Policies – Panel
Tightening EU climate regulations are expected to catalyze stronger global carbon policies, with policy certainty crucial for building confidence in investing in transition technologies and initiatives, panelists said on Wednesday during a discussion hosted by OPIS, a Dow Jones company, at the Wall Street Journal's Journal House in Singapore. Evolving EU climate policy, particularly the Carbon Border Adjustment Mechanism (CBAM) that seeks to level the carbon emission costs for products imported into the EU, will have a material impact on major EU exporters such as China and India. Read More
ARM’s new smelting process shows promise in S. Africa
African Rainbow Minerals (ARM) has developed a smelting technology that uses 70% less energy with the aim to offset high electricity tariffs, increase production and resuscitate South Africa's ferroalloys industry. ARM has a 50/50 joint venture with Assore and together own iron ore, manganese and smelting operations in South Africa and Malaysia. Read More
S. Africa manganese miners face declining quality issue
South African manganese miners are seeing deteriorating quality in their opencast production and will soon face the decision on whether to expand underground at greater cost, industry officials said. South Africa, the world’s biggest manganese exporter, has seen the quality of its ore slowly decline from an average of 40% manganese content a decade ago to 37% currently, as the shallow surface of the Kalahari Basin begins to deplete, according to data from the International Manganese Institute (IMnI). Read More
China to Add Cement, Steel, and Electrolytic Aluminum to ETS
China has launched a public consultation on expanding the national emissions trading scheme (ETS) to include sectors such as cement, steel, and electrolytic aluminum, with emissions coverage to start from 2024, according to a notice from the Ministry of Ecology and Environment (MEE) on Sept. 8. China's ETS was launched in July 2021 to cover only power generation entities, accounting for around 5 million metric tons of carbon dioxide equivalent (tCO2e) emissions annually. Read More
NZ Report Suggests VCM as Avenue to Scale Blue Carbon Projects
The voluntary carbon market (VCM) with access to international trading would be a more suitable option to facilitate blue carbon projects in New Zealand, than the country's Emissions Trading Scheme (ETS), initial findings from a government-commissioned report released on Sept. 3 outlined. Funded by the Nature Conservancy Aotearoa New Zealand and the Ministry for the Environment, the report emphasizes the greater flexibility and financial viability of the VCM for blue carbon projects, which focus on the carbon sequestration potential of ecosystems such as salt marshes, seagrass, and mangroves. Read More
NZ Emissions Auction Fails to Attract Bids for Second Consecutive Time
No bids were placed in Wednesday's September quarterly New Zealand emissions unit (NZU) auction, leaving all 7.6 million NZUs unsold and rolled over to the year's final auction on December 4. This marks the second straight auction without any participation, following the June 2024 auction, the first on record with no bids. Since March 2023, NZU auctions have struggled to fully clear, with only the March 2024 auction selling a portion of the available units. Read More
China Lists First CCER Projects Under National Voluntary Carbon Market
China has listed on Monday the first Chinese Certified Emission Reduction (CCER) projects for public consultation, around eight months after the relaunch of the Chinese Certified Emission Reduction (CCER) scheme in January. Read More
Tshipi omits interim dividend amid manganese downturn
The board of South Africa’s Tshipi é Ntle manganese mine has decided not to pay a dividend to shareholders for the six months to 30 June due to the recent downturn in the global manganese market. Read More
Japanese Firms to Develop Verra IFM Carbon Credits in Hamamatsu City
Eight Japanese companies, including Sojitz Corporation, SBI Sumishin Net Bank, and Salesforce Japan, have announced a partnership with the country's Hamamatsu City to develop voluntary carbon credits under Verra's improved forest management (IFM) methodology, the firms said on Aug. 30. The alliance, which also includes Temix Green, Maply, Fuyo General Lease, Green Carbon, and Sustainacraft, will begin verification for the issuance of credits under Verra's Verified Carbon Standard (VCS) program in September, using the IFM methodology for artificial cedar and cypress forests in the city. Read More
INTERVIEW: NZ Climate Diplomacy Paves Way for Article 6 Agreement – Minister
New Zealand is continuing to advance its international climate cooperation efforts as a way to potential cooperation under Article 6 of the Paris Agreement to meet its climate targets, Climate Change Minister Simon Watts told OPIS in an interview on Aug. 20. "We're looking for opportunities to work with other countries, particularly in Southeast Asia, on how we can achieve a win-win... in decarbonization and emissions reduction," said Watts on the sidelines of the Carbon Forestry 2024 Conference in Rotorua. Read More
India adds record 15 GW of solar capacity in H1 2024
India has installed a record 15 gigawatts (GW) of solar capacity in the first half of 2024, an increase of 282% year to year, the highest half-yearly and annual installations to date, due to the commissioning of several previously delayed projects, according to research company Mercom India on August 22. Read More
Aveng mulls ownership changes for Tshipi contractor
International mining company Aveng plans to explore “alternative ownership options” for its South African-based Moolmans business, which is a key contractor for the Tshipi é Ntle manganese mine. Read More
Transnet, industry collaboration unlocks loco spares
Locomotive availability, one of the biggest hindrances to South Africa’s rail capacity, is showing signs of improvement thanks to increased collaboration between Transnet Freight Rail (TFR) and industry in obtaining critical spare parts. Read More
Meyer Burger Nixes US Solar Cell Factory Plans
Swiss manufacturer Meyer Burger has announced it is not moving forward with the development of a 2 GW cell factory in Colorado, saying the plans are "no longer financially feasible." The company's German cell plant, previously slated for retirement, "will continue to form the backbone of Meyer Burger's solar cell supply," the company said in a statement Monday. Read More
ArcelorMittal’s De Paula shares LatAm steel views
Brazil's steel industry is navigating a challenging time with high Chinese steel imports and slow investment in sectors such as infrastructure and manufacturing. In an exclusive interview at the AcoBrasil Congress in São Paulo, Jefferson De Paula, CEO of ArcelorMittal, South America, Long, shared his views with McCloskey’s Ranjana von Wendland on the industry and his company’s business in LatAm. Read More
High-grade manganese rally ends with 33% weekly drop
High-grade manganese prices tumbled 33% in one week, ending a four-month rally, as the market finally capitulated under weak demand and pressure from lower grade material. High-grade manganese ore dropped to $6.02/dmtu CIF Tianjin on Friday, compared to $8.97/dmtu in the previous week and the lowest since late April Read More
Verra Nature-Based Issuances Are Down, Removals Make Up Growing Share
Carbon credit issuances from nature-based projects registered with Verra have fallen sharply so far this year, with REDD+ taking a greater hit than removal project types like afforestation and coastal environment restoration, records show. Read More
Glencore reports S. Africa losses on coal quality, rail
Glencore has written down its South African coal assets by $611m as the operations suffer quality issues and rail constraints. The mining and commodities trading group last week released its results for the half year ended in June, and swung into a $233m loss primarily due to impairments of which the South Africa coal write-downs were the largest. Read More
Port Elizabeth Aug manganese exports likely to fall 20%
Monthly manganese ore exports from South Africa’s Port Elizabeth, the industry’s main export hub, are expected to drop by nearly 20% in August compared with the previous month, due to easing seaborne prices. Read More
Beyondsun starts production at 3 GW module facility
China-based solar photovoltaic (PV) manufacturer Beyondsun Green Energy has begun operation at its new intelligent manufacturing facility, the first in Zhongwei City, Ningxia, producing the company's first N-Power-Pro series N-type TOPCon photovoltaic module, Beyondsun said on August 1. The facility at an investment of 3 billion yuan ($417.75 million) will be built in two phases. Phase one involves the establishment of a 3 gigawatt (GW) high-efficiency N-type TOPCon module production plant, while Phase two involves the establishment of a 2 GW high-efficiency Heterojunction (HJT) module production plant, a 3 GW aluminum alloy frame production line, and a 3 gigawatt hour (GWh) energy storage battery production line. Read More
With lights back on, S.Africa embraces green transition
With South Africa’s power crisis now over, President Cyril Ramaphosa’s new government is again embracing an accelerated energy transition that could threaten future investment in the country’s coal industry. After two years struggling to keep the lights on, Eskom has gone more than 130 days without rotational power cuts, known as load shedding. The situation has improved so much that the state utility announced last week it had to cut operations because it was producing so much power. Read More
S.Africa’s manganese market oversupplied – Kudumane CEO
South Africa’s manganese market is oversupplied, and producers should more closely follow demand signals, as semi-carbonate prices tumble from this year’s highs, said Kudumane’s CEO. During a McCloskey manganese webinar last week, Kudumane CEO Thembelani Gantsho said the recent drop in semi-carbonate manganese ore prices indicated that demand fundamentals were not there to support such levels. Read More
Washington to Lose $3.8 Billion if Cap-and-Invest Repealed: Sec. of State
The Washington state Office of Financial Management estimates $3.8 billion in lost revenue from canceled emissions allowance auctions through fiscal years 2025-2029 if citizens vote to repeal the state's cap-and-invest program in November, according to a new fiscal impact statement released this week. The Washington Secretary of State published the statement along with new ballot materials this week for the vote on Initiative 2117 in November, which would repeal the state's cap-and-invest emissions trading program if passed. Read More
Analysis: UK CCS Projects Face Delays But Retain Political Support
Reports and announcements published over the last week have crystallised both the challenges facing the buildout of carbon capture storage (CCS) projects in the UK, but also how the technology retains widespread political support, including from the country's newly elected government. Read More
Industry hits back at mooted raw ore export tax
The Minerals Council South Africa – the industry body representing 90% of mining production in South Africa - has hit back at the mining minister’s musings about implementing an export tax on raw ore. Read More
S. Africa’s Transnet set to receive $1bn ADB loan
South Africa's Transnet is set to receive a ZAR18.85bn ($1bn) corporate loan from the African Development Bank, providing much needed funding for the troubled state-run company to improve its rail operations. The 25-year loan fully guaranteed by the government of South Africa was approved by the bank's board of directors earlier this month. Read More
Chinese Solar Makers Sinks into the Red on Price Falls Across Supply Chain
Major listed solar manufacturers in China are expecting net losses for the first half of 2024 after price drops across the solar supply chain wiped out net profits made a year ago, according to company announcements over the past week. Read More
S. Africa imposes 9% import duty on hot-rolled steel
A provisional import tariff of 9% has been levied on hot-rolled steel coming into South Africa in a bid to protect ArcelorMittal SA (AMSA) from a flood of cheap Chinese imports. The application for tariff protection was lodged with the government’s International Trade Administration Commission (ITAC) in February by the South African Iron & Steel Institute (SASI) on behalf of AMSA, the country’s main primary steelmaker. Read More
Manganese market on edge after S. Africa rail line shut
Global manganese markets could rebound this week, supported by the shutdown of a key South African export rail line. Read More
Ramaphosa’s energy portfolio shift stokes confusion
President Cyril Ramaphosa’s decision to move the critical energy portfolio out of Gwede Mantashe’s hands to fall under Kgosientsho Ramokgopa has given rise to immense uncertainty and confusion over how energy matters will be split across the two ministries. Read More
ArcelorMittal S.Africa warns of losses amid poor market
ArcelorMittal South Africa (AMSA) has warned of widening interim losses amid tough trading conditions and operational issues at its hot-rolled steel plant. The steelmaker last week warned earnings losses for the six months ended in June could potentially quadruple as a result of difficult domestic and regional trading conditions; as well as the impact of operational interruptions of the two blast furnaces at flat steel plant in Vanderbijlpark. Read More
S. Africa president reappoints Mantashe mines minister
South African President Cyril Ramaphosa has announced his new Cabinet and reappointed Gwede Mantashe as mines minister, leaving him in charge of overseeing the coal and manganese industries but taking away Eskom from his portfolio. The new cabinet was eagerly anticipated following the formation of a Government of National Unity (GNU), which includes 11 political parties after the African National Congress lost its long-held majority in the national elections in May. Read More