Rio Tinto signs new power deal for Australian aluminium

: Electricity, Metals
24/02/21

UK-Australian mining firm Rio Tinto has announced a second major power purchase agreement (PPA) for the supply of renewable electricity to its Gladstone aluminium operations in Australia's Queensland state.

Rio Tinto in the 25-year deal will buy 80pc of the output from renewable developer Windlab's planned 1.4GW Bungaban wind project, which is currently in an early development stage 290km southwest of Gladstone. Construction is expected to start in late 2025 depending on development and grid connection approvals. The wind farm could start generating electricity by 2029, Rio Tinto said on 21 February.

This is the second PPA signed for its Gladstone aluminium, following last month's 25-year deal with Danish renewable energy firm European Energy for the purchase of all the output from the 1.1GW Upper Calliope solar photovoltaic project, the largest solar farm planned in Australia.

Rio Tinto said the combined 2.2GW of renewable power under the two PPAs has the potential to cut its carbon dioxide (CO2) emissions by 5mn t/yr, helping a goal of halving its global scope 1 and 2 greenhouse gas emissions by 2030 from 2018 levels. Supplies in the Bungaban wind deal, the largest PPA signed in Australia, represent a reduction of around 3.2mn t/yr of CO2 emissions.

"If combined with more renewable power and suitable firming, transmission and industrial policy, the Bungaban and Upper Calliope PPAs could also provide the core of a solution to repower Rio Tinto's three Gladstone production assets," it said. The company needs around 4GW of solar and wind capacity, or the equivalent of over 1GW of base-load generation capacity, to power its Boyne aluminium smelter and the Yarwun and Queensland alumina refineries in Gladstone.

Rio Tinto reported 142 petajoules of global renewable energy use in 2022, with its global scope 1 and 2 emissions falling to 30.3mn t CO2 equivalent (CO2e) from 31mn t CO2e in 2021 and 33.7mn t CO2e in 2018. The aluminium business represented the highest volume in 2022 at 21.1mn t CO2e, with Australia overall at 18.2mn t CO2e of the total.

By Juan Weik

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25/03/26

Trump unveils new tariffs on auto imports: Update

Adds details throughout Washington, 26 March (Argus) — President Donald Trump said today he would impose a 25pc tariff on foreign-made cars and trucks imported into the US, but said there will be no tariffs on automobiles assembled in the US. Trump said the new tariffs on imported automobiles marked the "beginning of Liberation Day", the term Trump has used to reference his plan to unveil sweeping tariffs on major foreign trade partners on 2 April. The White House estimates the tariff on imported cars and trucks will generate $100bn/yr in new tariff revenue. Trump said the auto tariff will go into effect on 2 April, providing a financial incentive for automakers to relocate manufacturing to the US. "We'll effectively be charging a 25pc tariff, but if you build your car in the United States, there's no tariff," Trump said in remarks at the White House. "And what that means is a lot of foreign car companies, a lot of companies, are going to be in great shape." The auto tariffs will likely add thousands of dollars to the price of many imported cars and trucks. But the tariffs — the details of which have yet to be released — appears more targeted than Trump's initial plan to impose a 25pc tariff on nearly all imports from Canada and Mexico, because the tariffs would not apply to cars and trucks parts, so long as the vehicles are assembled in the US. "Anybody that has plants in the United States it's going to be good for, in my opinion," Trump said. Ontario premier Doug Ford previously warned that Trump's plan to impose a nearly across-the-board import tariff could have caused auto manufacturing in the US and Canada to grind to a halt within as few as 10 days. Trump eventually delayed those tariffs until 2 April. Earlier this week, Trump said that South Korean automaker Hyundai's decision to invest $5.8bn to build a steel mill in Louisiana offered a blueprint for how companies could avoid tariffs. Trump has already imposed a 25pc tariff on steel and aluminum, and earlier this week said he would announce tariffs on imported lumber, semiconductor chips and pharmaceuticals. Even as a lack of details about the upcoming tariffs has fueled uncertainty for businesses and sharp declines on US stock markets, Trump has continued to announce additional tariffs. On Tuesday, Trump said any country taking delivery of Venezuelan oil or gas would be "forced" to pay an incremental 25pc tariff on any goods imported in the US. US oil executives appear to be growing tired of Trump's chaotic trade policy, particularly his imposition of a 25pc tariff on imported steel that is used in drill pipes, executives said in a survey the US Federal Reserve of Dallas released Wednesday. The uncertainty over tariffs and trade policy is causing "chaos", they said in the survey, and increasing their cost of capital. "Tariff policy is impossible for us to predict and doesn't have a clear goal," an unnamed oil executive said in the survey. "We want more stability." By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump to impose new tariffs on auto imports

25/03/26

Trump to impose new tariffs on auto imports

Washington, 26 March (Argus) — President Donald Trump will announce new tariffs on the automobile industry later today, the White House said, at a time of significant uncertainty about his trade policies. Trump plans to offer further details on the automobile tariffs this afternoon, less than a week before he plans to announce tariffs against major foreign trade partners on 2 April, which Trump has dubbed "Liberation Day". Trump has already imposed a 25pc tariff on steel and aluminum, and earlier this week said he would announce tariffs on imported lumber, semiconductor chips and pharmaceuticals. Trump last month threatened to impose 25pc tariffs on most imports from Canada and Mexico, starting on 4 March — including imported automobiles and vehicle parts — but he eventually offered a one-month reprieve for US automakers before delaying those tariffs entirely until 2 April. The scope and timing of the upcoming automobile tariffs remains unclear, and the White House has yet to provide further details. But Ontario premier Doug Ford previously warned that steep tariffs on Canada could cause auto manufacturing in the US and Canada to grind to a halt within as few as 10 days. Earlier this week, Trump said that South Korean automaker Hyundai's recent decision to invest $5.8bn to build a steel mill in Louisiana offered a blueprint for how companies could avoid tariffs. "This is the beginning of a lot of things happening," Trump said. Even as a lack of details about the upcoming tariffs has fueled uncertainty for businesses and sharp declines on US stock markets, Trump has continued to announce additional tariffs. On Tuesday, Trump said any country taking delivery of Venezuelan oil or gas would be "forced" to pay an incremental 25pc tariff on any goods imported in the US. US oil executives appear to be growing tired of Trump's chaotic trade policy, particularly his imposition of a 25pc tariff on imported steel that is used in drill pipes, executives said in a survey the US Federal Reserve of Dallas released Wednesday. The uncertainty over tariffs and trade policy is causing "chaos", they said in the survey, and increasing their cost of capital. "Tariff policy is impossible for us to predict and doesn't have a clear goal," an unnamed oil executive said in the survey. "We want more stability." By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

UK TRA to broaden scope of steel safeguard review

25/03/26

UK TRA to broaden scope of steel safeguard review

London, 26 March (Argus) — The UK Trade Remedies Authority (TRA) has widened its review of the steel safeguard in light of concerns raised by steelmakers, it said today. The TRA has broadened the scope of its developing economy status review, which it began on 28 February, after UK Steel said a number of factors warranted a broader review to right-size quotas on certain products. In a submission to the TRA earlier this month, UK Steel said the reimposition of US steel tariffs, the fall in domestic demand and quota liberalisation, and tighter EU safeguards meant the review should be widened. UK Steel said products with "larger residual quotas", hot-dip galvanised (HDG), plate and rebar, are exposed to diverted trade. Last year, more than half of ‘other countries' HDG imports came from Vietnam, 66pc of ‘other countries' plate from South Korea and 78pc of ‘other countries' rebar from Algeria. In its recent steel safeguard review, the EU imposed caps on ‘other countries' HDG, plate and rebar of 20-25pc. It is likely that a similar mechanism could be implemented in the UK to avoid crowding out of traditional flow, but the outright quota volumes are much smaller than in the EU. UK Steel asked for 15pc caps on each product. UK Steel also said the quotas should be reduced in line with softer demand, or at least the rate of liberalisation reduced, in line with the 0.1pc rate in the EU. The reversal of redistributed volumes from Russia and Belarus should also be considered, it said, again in line with EU changes. Carryover of unused quotas from one quarter to the next should also be stopped. The association also said China, India, Turkey, Brazil and Vietnam should not be considered developing countries for the purpose of the safeguards, which would mean they all come into the scope of the ‘other countries' quotas. The TRA said interested parties can now register interest or provide updated submissions until 9 April. Argus reported last month that UK steelmakers had requested greater import protection . By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Korea's LGES inks US energy storage system battery deal

25/03/26

Korea's LGES inks US energy storage system battery deal

Singapore, 26 March (Argus) — South Korean battery manufacturer LG Energy Solution (LGES) has secured a deal to supply Taiwanese electronics manufacturing firm Delta Electronics a total 4GWh of residential energy storage system (ESS) batteries. The two firms signed a "strategic partnership" and the US-produced batteries will be supplied during 2025-30, said LGES on 26 March. LGES will begin the production of lithium-iron-phosphate (LFP) ESS batteries in the second half of 2025 at its plant in Holland, Michigan, which will be equipped with an ESS production line. They will also under the partnership explore the power grid and commercial ESS markets, said LGES. Delta last year agreed to jointly develop new electric vehicle (EV) charging architecture in the US alongside the US' EV public charging station provider EVGo. LGES last year said it plans to reduce its dependence on the EV battery business and is looking to produce ESS cells in the US from 2025 through its subsidiary, LGES Vertech. The anticipation of higher tariffs on Chinese ESS batteries coming into effect in the US has driven LGES to expect greater growth in market demand for US-produced batteries, the firm said. The firm earlier this week signed another LFP ESS battery deal with Polish state-controlled utility PGE and it intends to also expand ESS battery production in Europe. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Energy security tops Rubio's Caribbean visit agenda

25/03/25

Energy security tops Rubio's Caribbean visit agenda

Houston, 25 March (Argus) — Energy security is the "big opportunity holistically" of US secretary of state Marco Rubio's planned visit this week to Jamaica, Guyana and Suriname, US special envoy for Latin America Mauricio Claver-Carone said. The island nations that are net importers of crude and other energy products have a chance to "turn the page" to improve energy security and reduce prices, the envoy said today in a state department briefing to press. The trip comes after the US said this week it would impose a 25pc discretionary tariff on imports from countries that buy Venezuelan crude. Several nations in the past received crude from their South American neighbor through its PetroCaribe aid program which is largely defunct, other than shipments to Cuba. Trinidad has also sought to develop cross-border natural gas fields with Venezuela to boost its flagging production, but the US announcement further complicates this plan. "Along with a lot of the challenges posed with Venezuela, we're deeply committed to working with Trinidad to figuring out how to re-energize ... those natural gas opportunities," Claver-Carone said. Booming oil producer Guyana in turn has faced a border dispute with Venezuela, and the US hopes to discuss "binding security cooperation" to solve this problem during Rubio's visit. Along with Guyana's neighbor Suriname, which hopes to launch offshore crude production by 2028, the outlook for the region to increase energy production could end its "huge Achilles' heel to its economic development and security," Claver-Carone added. Rubio will also discuss security, including improving conditions in Haiti, illegal migration and arms and drug trafficking during his visits on Wednesday and Thursday. By Carla Bass Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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