newstag
red   Novelis Launches evercycle™ Certified High-Recycled Content Products
    Novelis, the world leader in aluminum rolling and recycling, has recently announced the first product in a new portfolio of certified high-recycled content aluminum for specialty applications called evercycle™. This new material will enable customers to produce infinitely-recyclable products with a lower carbon footprint.
The first product in the evercycle portfolio is designed for aluminum food containers. This product is certified by SCS Global Services to contain 100 percent recycled aluminum, made up of 90 percent post-consumer content and 10 percent customer manufacturing scrap – the only material of its kind in the market. Commercially available now in North America, evercycle is expected to become available globally as demand grows.
"The launch of evercycle marks an important next step in our long-term commitment to sustainable aluminum product innovation," said Phil Martens, Novelis President and Chief Executive Officer. "Our evercycle aluminum appeals to customers who want to demonstrate their dedication to sustainability and attract the growing numbers of environmentally conscious consumers."
The new product adds to Novelis' growing portfolio of high-recycled content aluminum sheet products and is part of the company's plan to increase the overall recycled content of its products to 80 percent by 2020. In 2014, Novelis introduced its certified high-recycled content evercan™ product for beverage cans, which is now available globally.
"We are pleased to have begun shipping evercycle earlier this year to major producers of food containers in the U.S.," said Marco Palmieri, Senior Vice President of Novelis and President, Novelis North America. "This represents the first application of evercycle, but we are already developing other uses across our specialty products portfolio, including appliances and cookware."
Already the world's largest recycler of aluminum, Novelis has made capital investments of close to $500 million in its global recycling operations since 2011, which has doubled its annual recycling capacity to 2.1 million metric tons. Recycling aluminum requires 95 percent less energy, and produces 95 percent fewer greenhouse gas emissions (GHGs), than manufacturing primary aluminum.
red ICSG releases preliminary copper data for Dec 2014
A new protocol accounting for the aluminium packaging recovered from incinerator bottom ash (IBA) for recycling will allow PRNs to be issued on this material from 1st January 2015. The protocol, which has been developed by the Aluminium Packaging Recycling Organisation (Alupro) and has been acknowledged by the Environment Agency (EA), could see as much as 10,000 tonnes of recovered aluminium being counted towards the targets set for the recovery of aluminium packaging.
The new IBA protocol recognises that a minimum of 50% of the non-ferrous content of IBA is aluminium packaging (drinks cans, foil, aerosols etc.). Its introduction follows an extensive and detailed study by Alupro of material, in co-operation with the UK-based companies that process IBA and in consultation with the EA. Across Europe aluminium packaging is routinely recovered from IBA and is counted towards the national aluminium packaging recycling rates.
The development of the protocol is part of Alupro's strategy to try to ensure that all of the aluminium packaging collected for recycling is counted to arrive at the “true” recycling rate. In the past the sector has expressed concerns about the ability of the PRN system to accurately report the true recycling performance of aluminium packaging. The new protocol will also enable a more accurate comparison between the sector's recycling performance in the UK with its European counterparts. Speaking about the new IBA protocol, Rick Hindley, Executive Director, Alupro said: “Aluminium packaging is already being recovered and recycled from IBA in the UK. The establishment of this protocol is excellent news as it will now mean that this recovered aluminium packaging can count towards national recycling targets. We would always prioritise the collection of household aluminium through clean collection systems to ensure maximum value of the material is achieved, but with the growth of energy from waste plants set to increase between now and 2020 it is important that the aluminium content of IBA is counted towards national recycling targets.”
red   Nalco achieves highest turnover in 2014-15
    National Aluminium Company (Nalco), a navaratna public sector undertaking, has achieved its highest gross turnover of Rs 7,774 crore in the financial year 2014-15 as compared to Rs 7,024 crore achieved during previous fiscal.
During the year, the gross turnover (provisional) of the Odisha-based aluminium major also surpassed the previous best performance of Rs 7,247 crore, achieved during 2012-13 fiscal, Nalco said in a statement.
However, export earnings of the company declined to Rs 3,307 crore in 2014-15 as against Rs 3,719 crore earned in last fiscal, it said. Besides, Nalco generated 181 MU of wind energy during the year by operating a 50.4 MW wind power plant at Gandikota in Andhra Pradesh and another 47.6 MW at Jaisalmer in Rajasthan.
The company also commissioned 260 KWp Rooftop Solar Power System at its corporate office and township in Bhubaneswar during the year, the statement said, adding that 167 kilo unit solar energy has been generated during the year.
red   Sesa Sterlite's shareholders approve name change
    Sesa Sterlite Limited ('Sesa Sterlite' or 'the Company') has recently announced that the shareholders of the company, inter-alia have approved by requisite majority, the name change of the company from its present name – Sesa Sterlite Limited to “Vedanta Limited”, through Postal Ballot Results on March 30, 2015.
"The name change will enable us to position ourselves strategically, create much greater value and align our businesses to a unified messaging. We want to strengthen the linkage between the global business and global stakeholders, which reflects the company's commitment to creating value through a growing portfolio of global operations,” said Tom Albanese, Group CEO, Vedanta, adding that this is a landmark decision. “Our brand Vedanta, which is globally recognized as one of the most credible names in the natural resources industry embodies excellence, trustworthiness and commitment to all its stakeholders,” said Mr. Albanese.
Sesa Sterlite, the Indian subsidiary of London listed, Vedanta Resources Plc, a globally diversified natural resources company, is engaged in the exploration and production of aluminium, zinc, lead silver, copper, iron ore, oil & gas and commercial power. The planned change in name of the company will have no impact on the operations of subsidiary companies Cairn India Limited, Hindustan Zinc Ltd (HZL) and Bharat Aluminium Co. Ltd (BALCO) and the divisions of Sesa Sterlite.
The name change to Vedanta Limited will be effective post issue of Fresh Certificate of Incorporation issued by the Registrar of Companies, Ministry of Corporate Affairs (MCA), Govt. of India and other formalities to be completed with the Stock Exchanges.
red   Nanshan Aluminium net profit up by 15.04% in 2014
    Shandong Nanshan Aluminium Company reported CNY 912.96 million in net profit attributable to shareholders of its listed company in 2014, up 15.04% from 2013.
The vertically integrated company attributes the rise in profit largely to product portfolio adjustment, namely increasing production of higher value added cold rolled and extruded products. However, its revenues dropped 3.23% YoY to 14.06 billion yuan, due mainly to falling aluminum prices.
Its 200,000 tonne per year large size, high performance special aluminum alloy project has entered trial and is scheduled to come online fully in 2015. Its 14,000 tonne per year large, precision forging project has also started trials. Its 40,000 tonne per year precision, multi functional aluminum foil project, targeting high end market, is still under construction and slated to enter operations in 2017.
red   Australian firm to provide quality copper
Following the discovery of minerals coupled with sentiment that the price of copper might rebound this year, INTREPID Mines Limited, an Australian firm, says its newly acquired Kitumba project in Mumbwa is expected to provide quality copper for growth of the company. Last year, the Federal Court of Australia approved Blackthorn Resources and Intrepid Mine scheme, which will allow the duo to pursue the development of Kitumba project in Mumbwa.
Blackthorn Resources and Intrepid Mine are expected to start the construction of the US$460 million Kitumba copper mine project in Mumbwa this year. The firm says despite its share price ending at a very low level, coupled with low copper prices last year, the company is committed to taking proactive steps to position itself to be recognised due to its value.
This is according to the company's financial statement for the year ended December 31, 2014. “We are confident that our status as a well-funded owner of a quality copper project at Kitumba and prospective exploration leases differentiates us from much of the junior resources sector and provides a foundation for growing value over the coming year and beyond as prices and sentiment inevitably rebound and investors look for quality copper assets,” the statement reads.
The mine's focus areas this year are to undertake mineral exploration, prudently manage its cash, control its rate of expenditure in recognition of difficult market conditions, appropriate progress on the Kitumba feasibility study and realise value solution for the Kitumba project post feasibility.
red   Russia grants mining license
    The Russian government issued a decree to grant exploration and mining license for Maslovskoye platinum copper nickel deposit, located in the north of the Krasnoyarsk Territory to MMC Norilsk Nickel. The respective document was published on the website of the Government of the Russian Federation. In August 2006, MMC Norilsk Nickel obtained exploration license for platinum copper nickel deposits of Maslovsky area in the Krasnoyarsk Territory. In December 2014 Rosnedra has extended this license.
Exploration costs incurred by the Company approach RUB 1.2 billion. Total investments in project development will be specified after the scoping study. MMC Norilsk Nickel pioneered exploration of Maslovskoye deposit. The deposit is 12 kilometers to the south from the city of Norilsk, the center of Norilsk industrial region.
It is represented by copper nickel sulfide ore containing nickel, cobalt, copper, platinum group metals, gold and associated components. The complexity of the geological structure of Maslovskoye deposit refers it to group 1, its exploration degree is deemed to be estimated. Balance reserves of copper nickel sulfide ores of C1 and C2 categories amounted to 215 million tonne.
As a result of Rosexpertiza expert appraisal, Maslovskoye deposit reserves were accepted for state recording in September 2009. Balance reserves of C1 + C2 nickel reserves amount to 728,000 tonne, copper reserves exceed 1.1 million tonne, platinum reserves approach 12.5 million oz., gold reserves are estimated at 1.3 million oz. Life of mine approximates to 25 years.
red   South Korea buys 2,000 tonnes of Al for May
    As per reports South Korea has paid the smallest premium in more than a year to source aluminium, the results of a tender showed recently, the latest sign of intensifying pressure on premiums that is putting the operations of global producers under threat.
The state run Public Procurement Service said that South Korea bought 1,000 tonnes of aluminium to be sourced from India and another 1,000 tonnes from Australia for May 24 shipment via two tenders closed on 10th 2015.
K Commodity Company Limited won both bids by offering to accept premiums of USD 330 per tonne, CIF Incheon, over London Metal Exchange prices. The drop in premiums is likely to boost headwinds for aluminium producers, who receive the delivery surcharge on top of LME cash prices.
According to a data, the drop represents a 7% fall from USD 355 tender announced on February 26 and is the lowest premium paid by PPS in more than a year. It comes as premiums worldwide crumble after LME announced fresh measures to overhaul its warehousing system and as Chinese product exports swamp the local market.
Major producer Alcoa warned it may reduce smelting capacity recently, in the first concrete sign that lower delivery premiums for aluminium are threatening producers amid weak futures prices.
The LME announced new rules and proposals lately aimed at slashing delivery backlogs at its global network of warehouses twice as quickly as under current reforms. The move is part of a wide ranging restructure sparked by consumer complaints about long delays to obtain aluminium from storage and lawsuits accusing banks and commodity companies of conspiring to restrict supply through the warehouse network.
red   Chalco posts largest net loss in 2014
Due to huge writedowns and weak metal prices as the Chinese economy slowed Aluminum Corporation of China Limited, the leading producer of primary aluminium and raw material alumina in the country, posted its largest ever loss in 2014.
Chalco swung to a net loss of CNY 16.2 billion for the year in 2014 from a profit of CNY 948 million the previous year. Chalco, which sells its products mainly in China, the world's top consumer and producer of aluminium, made provisions for CNY 7.5 billion for some long-term assets and lower aluminium prices.
Prices of the most active aluminium contract on the Shanghai Futures Exchange dropped 6.7% in 2014, weighed by overcapacity in the sector. Aluminium prices on the London Metal Exchange rose 3% last year.
The Chinese industry ministry said last month that China's monthly production of primary aluminium repeatedly hit record levels in the second half of 2014 due to new capacity. The industry will continue to face overcapacity in 2015 as little of the existing 35 million tonnes of capacity can be phased out.
red   Codelco copper output up by 3% in 2014
    Codelco produced 1.672 million tonnes of copper in full-year 2014, a 3.1 percent rise from a year earlier, the world's No. 1 copper producer recently said. The company said the jump in output was mostly due to Codelco's newest mine, Ministro Hales, which produced 141,200 tonnes copper in 2014, up from just 33,600 tonnes in 2013 when it was in its initial ramp-up phase.
The increase more than made up for production decreases that totaled 64,000 tonnes, at Radomiro Tomic, Gabriela Mistral and Andina. Codelco's two oldest mines, open-pit Chuquicamata and underground El Teniente, increased their copper output by a combined 7,000 tonnes last year.
Pre-tax profit fell 22 percent to $3.033 billion, dragged down by falling copper prices and higher financing costs. Codelco said its direct cash costs in 2014 were 7.8 percent lower than a year earlier at $1.504 per pound of copper.
Operations at Codelco's Chuquicamata, Ministro Hales, Radomiro Tomic and Gabriela Mistral are now fully operational, though its Salvador mine has between 20 to 30 days to get there, chief executive Nelson Pizarro said. Codelco lost 6,500 tonnes of refined copper production due to the stoppages, Pizarro said.
red   Japanese Al demand may rise 1.8% in 2015-16
    Backed by rising demand for cans for coffee beverages and a rebound in construction market, it is reported that Japan's aluminium product demand, including for exports, is expected to grow 1.8% in the financial year starting April 1.
Mr. Takashi Ishiyama chairman of Japan Aluminium Association said, "Japanese economy is improving thanks to 'Abenomics' while export is also growing on the back of a weaker yen. Although demand in construction and automobile markets was hit by a sales tax hike last April, we expect it will gradually recover in the next business year.”
Overall demand of aluminium products is forecast to increase to 4.16 million tonnes in the year to March 2016 from 4.09 million tonnes this year, which marks a 2.6% climb. Of that, domestic demand will grow 1.9% buoyed by a switch by a beverage maker to aluminium cans from steel for coffee drinks. Export is seen growing 1.1%.
The industry body said that import of aluminium products, meanwhile, will rise 6.8% next year, driven by supply coming from China. Imports jumped 16.6 percent in the current year. Aluminium ingot stocks held at three major Japanese ports climbed for an eleventh month to a record high at the end of February due to robust imports.
This is a compilation of news from Various dailies, magazines, Trade publications and
press releases.