China currently dominates the processing of minerals used in the production of electric vehicles, but many of the minerals themselves are mined in Africa. Now, mining companies are building alternative processing facilities in Africa to avoid shipping the materials to China. Alexandra Wexler reports in The Wall Street Journal: Pressure to create supply chains for electric-vehicle batteries that bypass China is prompting Western miners to do something they have long avoided: process their metals in Africa. China dominates both the production and processing of critical minerals such as … [Read more...]
Indian Rice Export Ban Spikes Prices
Prices for rice have spiked as a result of the Indian government's decision to ban exports of many varieties of rice. Nikkei Asia reports: International prices for rice and wheat have spiked to rare highs in recent weeks, driven by India's ban on most rice exports and Russia's ongoing war in Ukraine. Bangkok rice traded at $607.50 a tonne on July 27, with the benchmark jumping by $62.50 in the week since India announced a ban on exports of non-basmati white rice July 20. Bangkok rice hit its highest price since May 2012. India's ministry of consumer affairs said it prohibited most rice … [Read more...]
Lithium Is Becoming a Geopolitical Leverage Point
Countries with lithium supplies and those who need them are finding a new geopolitical balance as the mineral becomes more important in global supply chains. Christina Lu reports in Foreign Policy: The quest for a global energy transition has sparked a frenzied scramble for the raw materials underpinning everything from electric vehicles to wind turbines—and the mineral-rich countries where they are found refuse to be left out of the race. In the coming decades, billions of tons of minerals such as lithium, nickel, and cobalt are going to be needed to power the clean energy technologies of … [Read more...]
Oil Majors Looking for Deals
Big oil companies like Exxon and Chevron are looking for acquisition deals that can add value for shareholders. Collin Eaton reports in The Wall Street Journal: Exxon Mobil and Chevron collectively banked nearly $14 billion in second-quarter profits Friday, down from last year’s record-breaking levels but adding to their war chests as they eye acquisitions in the oil patch. Exxon said it earned $7.9 billion in the second quarter, extending its run of strong quarters though its profit was down from the company’s $17.9 billion haul in the same time last year, when Russia’s invasion of … [Read more...]
China Is Importing More Coal than Ever
China is about to break a record for coal imports, and the high demand for seaborne coal is helping to put a floor on dry bulk shipping rates. Splash247's Sam Chambers reports: Dry bulk rates might be in the doldrums, but they’d be in a whole lot worse state were it not for the sensational amount of coal China has been importing in recent months, with the People’s Republic now on course to import 400m tonnes this year, smashing last year’s total by 100m, as well as the record set back in 2013 of 327m tonnes. The full year target figure of 400m has been mentioned by China’s National Coal … [Read more...]
Russian Oil Production to Overtake Saudis’
Russia could become the largest oil producer among the OPEC+ cartel of oil exporters, overtaking the Saudis as they cut production to boost the price. Will Horner reports for The Wall Street Journal: Saudi Arabia is set to fall below Russia and lose its spot as the largest oil producer in the OPEC+ alliance as its production cuts begin to bite, tightening the oil market just as prices appear to be turning higher, the International Energy Agency said. The Gulf kingdom, the de facto leader of the Organization of the Petroleum Exporting Countries, has in recent months slashed its oil output, … [Read more...]
The History and Importance of Titanium
On his Substack, Construction Physics, Brian Potter discusses the history, importance, and uses of titanium. He writes: The earth contains a lot of titanium - it’s the ninth most abundant element in the earth’s crust. By mass, there’s more titanium in the earth’s crust than carbon by a factor of nearly 30, and more titanium than copper by a factor of nearly 100. But despite its abundance, it's only recently that civilization has been able to use titanium as a metal (titanium dioxide has been in use somewhat longer as a paint pigment). Because titanium so readily bonds with oxygen and other … [Read more...]
America’s Corn Export Dominance Threatened by Cheaper Competition
America has been the world's leader in corn exports for decades, but now that leadership is being threatened by cheaper exports from places like South Africa and Brazil. Stephen Starr reports for the BBC: American farmers' hard work and technological expertise has cemented its place at the top of the pile when it comes to corn exports. Every year, tens of millions of tonnes are shipped from the US to more than 60 countries around the globe. But its corn superpower status may be coming to an end. In fact, after decades at the top, it is on the verge of being overtaken as the world's … [Read more...]
America Driving a Global Surge in LNG Exports
In a new analysis, the EIA detailed a surge in the global trade of liquified natural gas (LNG), driven by a rapid increase in exports from the United States. The EIA reports: Data source: CEDIGAZ, 2022 and International Group of Liquefied Natural Gas Importers (GIIGNL), 2012–2021 Note: GIIGNL has not released its 2022 report. In 2022, global trade in liquefied natural gas (LNG) set a record high, averaging 51.7 billion cubic feet per day (Bcf/d), a 5% increase compared with 2021, according to data by CEDIGAZ. Liquefaction capacity additions, primarily in the United States, drove … [Read more...]
Costs for American Oil and Gas Drillers Look Set to Fall
American oil and gas drillers could get some much-needed wind in their sails if the costs of drilling decline as expected in the coming months. Bloomberg's Kevin Crowley reports: While inflation is persisting across the US — albeit at a slower pace — the country’s oil fields are a rare corner of the economy where prices are actually dropping. Drill pipe prices have halved this year, daily rig rates are down by more than 10% and the costs of steel and diesel are also trending lower. The number of active oil rigs has dropped 13% from this year’s peak, indicating there’s a surplus of … [Read more...]
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