Queensland tightens FIFO mine worker movements
The Queensland state government has tightened the number of mine workers travelling from Australia's other states to only those critical to operations to combat the spread of the coronavirus outbreak.
Only critical interstate fly-in, fly-out (FIFO) mine workers will be allowed into Queensland to protect remote and regional communities and local mine workforces, said Queensland mines minister Anthony Lynham.
Queensland will close its borders from midnight local time on 4 April to interstate FIFO workers unless they are critical to a project's operations, Lynham said.
Queensland last week closed its state borders but exempted interstate mine workers that were deemed essential services.
Western Australia, which together with Queensland represents Australia's two largest energy and mineral exporting states, also limited the travel of FIFO workers from New South Wales to all resource projects in the state.
Queensland exported 225.59mn t of coal last year.
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Barge delays at Algiers lock near New Orleans
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Houston, 24 April (Argus) — Barges are facing lengthy delays at the Algiers lock near New Orleans as vessels reroute around closures at the Port Allen lock and the Algiers Canal. Delays at the Algiers Lock —at the interconnection of the Mississippi River and the Gulf Intracoastal Waterway— have reached around 37 hours in the past day, according to the US Army Corps of Engineers' lock report. Around 50 vessels are waiting to cross the Algiers lock. Another 70 vessels were waiting at the nearby Harvey lock with a six-hour wait in the past day. The closure at Port Allen lock has spurred the delays, causing vessels to reroute through the Algiers lock. The Port Allen lock is expected to reopen on 28 April, which should relieve pressure on the Algiers lock. Some traffic has been rerouted through the nearby Harvey lock since the Algiers Canal was closed by a collapsed powerline, the US Coast Guard said. The powerline fell on two barges, but no injuries or damages were reported. The wire is being removed by energy company Entergy. The canal is anticipated to reopen at midnight on 25 April. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Baltimore to temporarily open 4th shipping channel
Baltimore to temporarily open 4th shipping channel
Cheyenne, 24 April (Argus) — The Port of Baltimore is preparing to open another, deeper temporary shipping channel this week so at least some of the vessels that have been stranded at the port can depart. The new 35-ft deep Fort McHenry Limited Access Channel is scheduled to be open to commercially essential vessels from 25 April until 6am ET on 29 April or 30 April "if weather adversely impacts vessel transits," according to a US Coast Guard Marine Safety Information Bulletin. The channel will then be closed again until 10 May. The channel also will have a 300-ft horizontal clearance and 214-ft vertical clearance. This will be the fourth and largest channel opened since the 26 March collapse of the Francis Scott Key Bridge. The Unified Command has said that the new limited access channel should allow passage of about 75pc of the types of vessels that typically move through the waterway. Vessels that have greater than 60,000 long tons (60,963 metric tonnes) of displacement will likely not be able to move through the channel and those between 50,000-60,000 long tons of displacement "will be closely evaluated" for transit. There were seven vessels blocked from exiting the port as of 27 March, including three dry bulk carriers, one vehicle carrier and one tanker, according to the US Department of Transportation. Two of the bulk carriers at berth in Baltimore are Kamsarmax-sized coal vessels, data from analytics firm Kpler show. The US Army Corps of Engineers still expects to reopen the Port of Baltimore's permanent 700-foot wide, 50-foot deep channel by the end of May. The Key Bridge collapsed into the water late last month when the 116,851dwt container ship Dali lost power and crashed into a bridge support column. Salvage teams have been working to remove debris from the water and containers from the ship in order to clear the main channel. By Courtney Schlisserman Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
EU adopts sustainability due diligence rules
EU adopts sustainability due diligence rules
Brussels, 24 April (Argus) — The European parliament has formally approved a Corporate Sustainability Due Diligence Directive (CSDDD), which will require large EU companies to make "best efforts" for climate change mitigation. The law will mean that relevant companies will have to adopt a transition plan to make their business model compatible with the 1.5°C temperature limit set by the Paris climate agreement. It will apply to EU firms with over 1,000 employees and turnover above €450mn ($481mn). It will also apply to some companies with franchising or licensing agreements in the EU. The directive requires transposition into different EU national laws. It obliges member states to ensure relevant firms adopt and put into effect a transition plan for climate change mitigation. Transition plans must aim to "ensure, through best efforts" that business models and company strategies are compatible with transition to a sustainable economy, limiting global warming to 1.5°C and achieving climate neutrality by 2050. Where "relevant", the plans should limit "exposure of the company to coal-, oil- and gas-related activities". Despite a provisional agreement, EU states initially failed to formally approve the provisional agreement reached with parliament in December, after some member states blocked the deal. Parliament's adoption — at its last session before breaking for EU elections — paves the way for entry into force later in the year. Industry has obtained clarification, in the non-legal introduction, that the directive's requirements are an "obligation of means and not of results" with "due account" being given to progress that firms make as well as the "complexity and evolving" nature of climate transitioning. Still, firms' climate transition plans need to contain "time-bound" targets for 2030 and in five-year intervals until 2050 based on "conclusive scientific" evidence and, where appropriate, absolute reduction targets for greenhouse gas (GHG) for direct scope 1 emissions as well as scope 2 and scope 3 emissions. Scope 1 refers to emissions directly stemming from an organisation's activity, while scope 2 refers to indirect emissions from purchased energy. Scope 3 refers to end-use emissions. "It is alarming to see how member states weakened the law in the final negotiations. And the law lacks an effective mechanism to force companies to reduce their climate emissions," said Paul de Clerck, campaigner at non-governmental organisation Friends of the Earth Europe, pointing to "gaping" loopholes in the adopted text. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Critical battery metal supply meets today's demand: IEA
Critical battery metal supply meets today's demand: IEA
Singapore, 24 April (Argus) — Supply of critical battery metals such as lithium, nickel and cobalt can "comfortably" meet current demand after major mining and refining investment over the past five years, according to IEA's latest Global EV Outlook 2024 . Global supply of lithium, nickel and cobalt in 2023 exceeded demand by 10pc, 8pc and 6.5pc, respectively, said IEA. Lithium demand for battery rose by 30pc on the year to around 140,000t, that of cobalt increased by 15pc to 150,000t, and nickel rose by 30pc to 370,000t. Continued rapid growth in mining and refining is needed to meet future demand and avoid supply chain bottlenecks, but battery technology advancements can potentially mitigate the demand, IEA said. IEA noted overcapacity has brought critical minerals prices and battery costs down but is also squeezing mining firms' cash flows and margins, with many companies struggling to stay afloat. Australia's nickel industry has been hit hard this year, with multiple producers ceasing operations following a sharp nickel market downturn, having to compete with rising nickel supply from Indonesia. Western Australia had to resort to providing royalty rebates to struggling nickel producers. Low lithium prices are threatening the survival of greenfield lithium project developers , and also affecting some established participants. Major Chinese lithium producer Tianqi Lithium on 23 April issued a profit warning to its shareholders, citing a significant fall in lithium product sales price. Tianqi warned of a net loss of 3.6bn-4.3bn yuan ($497-593mn) in January-March, drastically below a net profit of 4.88bn yuan for the same period a year earlier. Global lithium firm Arcadium Lithium earlier this year warned that current market prices will weigh on future supply . Cobalt prices in China are also under pressure, with market participants forecasting the downtrend to continue at least until the end of this year. "Everyone's mentally prepared that this year's a tough year, even 2025 [can be tough]," said a lithium market participant, noting the adverse effects from this year's global economic downturn. Battery EV battery demand rose by 40pc on the year to 750GWh in 2023, but at a lower rate as EV demand growth also slows down . Among major markets, US and Europe grew the fastest by 40pc on the year, while China — the largest market — grew by 35pc. Battery demand in the rest of the world grew by 70pc, but was still lower than 100GWh. China's battery demand reached 415GWh in 2023, while Europe and US trailed behind at 185GWh and 100GWh, respectively. Battery output in Europe and US were 110GWh and 70GWh, respectively. Lithium-ion battery output in China was 940GWh in 2023 , according to data from the country's Ministry of Industry and Information Technology (MIIT). China is leading the way, but it comes at the cost of "high levels of overcapacity", IEA noted. China used less than 40pc of its maximum cell output, with its installed manufacturing capacity of cathode active material and anode active material at almost four and nine times greater than global EV cell demand in 2023. Homegrown current and additional EV battery manufacturing capacity in Europe and US are scarce. South Korean firms account for over 350GWh of manufacturing capacity outside of South Korea, with around 75pc of existing manufacturing capacity in Europe owned by South Korean firms. Japanese and Chinese firms have 57GWh and 30GWh of capacity, respectively, outside of their own countries. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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