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Baltimore bridge wreckage removal underway

  • Spanish Market: Agriculture, Coal, Fertilizers, Freight, Metals
  • 01/04/24

Demolition crews started to cut apart sections of the collapsed Francis Scott Key Bridge at the Port of Baltimore, Maryland, over the weekend as part of efforts to reopen the blocked waterway.

The north section of the bridge is being cut into smaller sections that can be removed by mounted cranes, according to the federal Unified Command handling the accident response. Once those sections are removed, other equipment will be able to move in closer to the containership Dali, which struck the bridge early on 26 March when it lost power. The deadly collision caused the bridge to collapse. A roughly 4,000-ton section of the bridge rests on top of the ship and will need to be removed before the vessel can be cleared.

There is no official timetable for the reopening of the port, but some observers say it will likely take many weeks or even months. Rebuilding the Interstate 695 highway bridge over the Patapsco River could take several years.

The US Department of Transportation has pledged to provide $60mn for debris removal and reconstruction of the bridge, Maryland governor Wes Moore said in a press conference last week.

Baltimore is the largest vehicle import site in the US and is a major export location for coal. Automakers are adjusting their supply routes to account for what will likely be a lengthy closure, while coal exporters are expected to shift to terminals south in Hampton Roads, Virginia. Freight rates for ships that carry coal could see increases in global markets.

Other commodities like asphalt and caustic soda that move through the port will see challenges, while organic agriculture imports may see fewer problems because of seasonal flows.

Pressure in a natural gas transmission line that runs along the harbor floor next to the bridge has been reduced, according to the Unified Command, which is also working with Baltimore Gas and Electric to make the pipeline inert.


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12/12/24

Rio Tinto to invest $2.5bn in Argentina lithium mine

Rio Tinto to invest $2.5bn in Argentina lithium mine

Montevideo, 12 December (Argus) — International miner Rio Tinto will invest $2.5bn to expand its Rincon lithium operation, potentially increasing Argentina's production of the metal six-fold in the next decade, it said today. The company began initial production at Rincon's 3,000 metric tonnes (t)/yr starter plant in November. Rincon in Argentina's northern Salta province is Rio Tinto's first commercial lithium operation. It taps brine lithium. In October, it finalized the acquisition of Rincon from US-based Arcadium Lithium. The new investment will increase annual production to 60,000t of battery grade lithium carbonate. Construction on the expansion should start in mid-2025 and ramped-up production using direct lithium extraction (DLE) technology should start in 2028, eventually reaching capacity early in the next decade. The project will add to Argentina's efforts to become a world-class energy player with lithium, LNG and oil exports transforming the country in the coming years. Argentina was the fourth lithium producer in 2023, with 9,600t, according to the US Geological Survey. It has 3.6mn t of lithium reserves and 22mn t of lithium resources, second only to neighboring Bolivia. Argentina, Bolivia and Chile form the "lithium triangle," which holds around 60pc of the world's lithium resources. Chile is the world's second producer after Austria, while Bolivia's production is negligible. Rio Tinto referenced Argentina's economic reforms, including an incentive mechanism for long-term investments, known as the RIGI, as providing a new environment for investment. The RIGI is applicable to investments over $200mn and provides tax and customs benefits, as well as legal stability. Rio Tinto would join eight projects that have already applied for RIGI approval. President Javier Milei announced on 10 December, his first anniversary in office, that the government was planning sweeping tax reforms that would lower 90pc of the country's taxes, and elimination of exchange rate and customs controls. Monthly inflation in November was 2.4pc, down from 25.5pc in December 2023. In a September 2024 report, the Argentinian government listed 50 lithium projects, with 6pc producing the white metal, 10pc under construction and 14pc in the feasibility phase. The rest were in the initial development stage. By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Namibia bans fertilizer deliveries to neighbours


12/12/24
12/12/24

Namibia bans fertilizer deliveries to neighbours

London, 12 December (Argus) — The Namibian government has prohibited the import, storage, packaging and transit of fertilizers for delivery to countries other than Namibia. A notice was issued by the agriculture, water and land reform ministry (MAWLR) on 22 November to all companies revoking the importation and in-transit permits for fertilizers. It states that companies have 21 days to package the product in 1t bags and export the material or "surrender the products for destruction" at the company's cost. The ban comes into effect on 13 December. The notice applies to urea, MAP, DAP, amsul, CAN, NOP, MOP, SOP, NPK and magnesium sulphate. The duration of this ban is not yet known. Vessels offloading cargo intended for delivery outside Namibia will not be allowed to dock. The notice cites that the handling and storage of bulk and bagged fertilizers at Walvis Bay does not meet regulatory requirements. It also states that environmental and safety risks for contamination, leakage and exposure to external elements could have a long-term effect. The Walvis Bay port is used for offloading fertilizer deliveries before they are transited to inland countries such as Botswana, Zambia and Zimbabwe. Shipments for these countries are now likely to be rerouted through Beira, Mozambique. Negotiations between the governments of Namibia and Zambia are reportedly under way. Zambia is currently experiencing a severe fertilizer shortage, and given the delays at Beira, importing via Namibia and transporting it inland is the country's next best alternative to procure the volumes in time. By Upasruti Biswas and Nykole King Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Syrah declares Mozambique graphite plant force majeure


12/12/24
12/12/24

Syrah declares Mozambique graphite plant force majeure

Singapore, 12 December (Argus) — Sydney-based graphite producer Syrah Resources has declared a force majeure for its Balama operations in Mozambique and defaulted on US government-backed debt, given post-election civil unrest in Mozambique. This came as Syrah is unable to carry out production at Balama throughout October-December to replenish inventory and to sell to customers, because of a protest that had began at the site in late September, forcing a force majeure event. Syrah back in October said the protest is disrupting site access and causing production uncertainty. The firm is one of the few established non-Chinese graphite producers. The protest was originally linked to farmers with "historical farmland resettlement grievances", Syrah said. But it has persisted and worsened after Mozambique's general election in October, which triggered violent protests across the country's major cities given claims of electoral fraud. "The protest actions have been peaceful with no evident actions to deliberately damage property, plant or equipment at Balama," said Syrah. But efforts to reach a positive resolution have been "unsuccessful to date", it added. Syrah is still working on restoring operations "as quick as possible" but has acknowledged that any resolution will be a lengthy process. The Balama site has not been producing graphite since July, according to Syrah, owing to sufficient inventory for sales and low graphite fines demand. Balama produced around 24,000t of natural graphite during the April-June quarter. Syrah has been operating Balama in short "campaign" stints this year owing to insufficient market demand at times. The protest also triggered events of default on its loans with the US International Development Finance (DFC) and the US Department of Energy (DOE), given the "impacts and duration" of the protest. The US DFC pledged its first loan to a graphite operation to Syrah, which amounted to $150mn. Syrah also received a $102mn loan facility with US DOE for the expansion of its Syrah Vidalia anode active material facility in US. Syrah is engaging with US DFC and DOE on its defaults, it said.Australian mining company South32 earlier this month withdrew the production guidance for its Mozal Aluminium smelter in Mozambique because of riots and road blockages. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Australia’s Agfert to raise fertilizer storage capacity


12/12/24
12/12/24

Australia’s Agfert to raise fertilizer storage capacity

Sydney, 12 December (Argus) — Australia's Agfert Fertilizers expects its new 20,000t fertilizer storage and distribution centre on the Eyre peninsula in South Australia to be completed in February or March next year to meet demand for the new fertilizer application season. The new centre will have around 10,000m² of undercover storage, split into three large stockpiles and eight smaller areas. Equipped with five multi-hoppers, products at the facility will be able to load on an 80m weighbridge, supporting triple road trains loading at the facility. Once completed, Agfert Fertilizers will have approximately 80,000t of fertilizer storage across Southern Australia. Urea, phosphates, and other fertilizers will all be stored at Agfert's Cowell and Balaklava facilities, with the total throughput expected to be around 100,000 t/yr or more. Fertilizers in Southern Australia are mostly used on wheat, barley, canola, and legumes. Agfert will also store and distribute ''N-Shield Urea,'' which increases fertilizer efficiency by reducing leaching by up to 30pc while also lowering greenhouse gas emissions. The inhibitor helps keep the nitrogen in the immediate profile, increasing yields by not losing them to volatilisation or underground water streams. By Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Ice AOA ammonia contract volumes pass 26,500t


11/12/24
11/12/24

Ice AOA ammonia contract volumes pass 26,500t

London, 11 December (Argus) — The Ice Ammonia Outright — Argus Ammonia (AOA) northwest Europe cfr future contract has surpassed 25,000t traded, reaching 26,500t on 9 December. The Ice AOA futures contract was launched on 16 January 2023 and settles against a calendar-month average of the daily Argus northwest Europe cfr duty free price. The contract's block trade minimum threshold is five lots. One lot is the equivalent of 100t. Since the contract launched, all trades have gone through FIS brokers and cleared through Ice. "Ammonia's role in the energy transition highlights its potential as a cornerstone of low-carbon energy solutions, and we are optimistic about the bright future for this product," FIS ammonia and fertilizer broker Kieran Walsh said. Ammonia is gaining traction as a potential method of decarbonising energy sectors, by producing it using renewable energy sources or through carbon capture and storage techniques. It can potentially be used directly as a fuel source in the marine sector, for co-firing in power generation or as a hydrogen carrier. More than 3mn t of physical ammonia has been imported into northwest Europe so far in 2024, according to Argus line-up data . Europe as a whole accounts for about a fifth of global ammonia imports, or about 4mn-5mn t/yr. By Ruth Sharpe Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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