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Latest market news

Australia's AVL partners with Alcoa on vanadium Bess

  • : Battery materials, Electricity, Emissions, Metals
  • 26/08/04

Developer Australian Vanadium (AVL) and its fully-owned subsidiary VSUN Energy have signed a non-binding memorandum of understanding (MoU) to conduct a scoping study for a vanadium battery energy storage system (VBess) at aluminium producer Alcoa's alumina refining operations in Western Australia (WA).

The study will assess the financial and technical merits of a 400-640MWh vanadium Bess for increasing Alcoa's renewable energy use and reducing its electricity costs during peak demand periods, AVL said on 4 August.

The study will also examine "electrolyte supply considerations," which may include sourcing from AVL's 33 MWh/yr vanadium electrolyte plant in Perth, WA.

AVL is one of four vanadium developers in WA and is currently conducting a feasibility study for its 11,200 t/yr vanadium pentoxide mine, located 50km south of Meekatharra in WA.

The company partnered with Japanese manufacturer Sumitomo Electric to apply for the WA government's A$150mn ($105mn) tender to construct a 500MWh VBess in Kalgoorlie and submitted its stage-two expression of interest on 27 July.

Alcoa expands aluminium operations

Alcoa announced in June its $4.1bn acquisition of Australian miner South32's bauxite, alumina and aluminium assets across Australia, South Africa and Brazil. The deal is expected to close in the first half of 2027.

This includes the 4.4mn t/yr Worsley alumina refinery, which will be added to Alcoa's existing WA alumina portfolio, including the 4.2mn t/yr Pinjarra refinery and the 2.85mn t/yr Wagerup refinery.

Alcoa currently operates its WA alumina refineries using natural gas. The company extended a gas supply deal with Woodside for a further 31.1 petajoules (PJ) (830mn m³) over three years from 2027-2030 in June. Alcoa also has a 10-year gas supply deal with US oil firm Chevron for 130PJ starting from 2028.

The Australian government will offer A$2bn in low-emissions aluminium production credits from 2028-29 to help smelters transition to renewable energy sources by 2035.

South32's Worsley refinery emitted 3.18mn t/yr of scope 1 CO2 equivalent (CO2e) in 2024-25, making it the third largest non-LNG emitter in Australia, according to Australia's Clean Energy Regulator. Meanwhile, Wagerup and Pinjarra emitted a collective 2.58mn t/yr of scope 1 CO2e in 2024-25.

By Daniel Gage-Brown

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News
26/08/03

US manufacturing grows for 7th month in July: ISM

US manufacturing grows for 7th month in July: ISM

Houston, 3 August (Argus) — Economic activity in the US manufacturing sector expanded in July at its fastest rate in more than four years, boosted by expanding production and orders as the Mideast Gulf war kept pricing pressures high. The Institute for Supply Management's (ISM) purchasing managers index registered 55.6 in July, up from 53.3 in June, the seventh consecutive month of growth and the highest reading since May 2022. Readings above 50 signal growth, while readings below that level signal contraction. The production index rose to 58.5 in July from 52.2 the prior month, a ninth month of growth and the highest since November 2021. "The manufacturing sector has shifted into a higher gear," Oxford Economic said in a note. "Defense and semiconductor-related machinery demand remain the brightest spots, and we expect these sectors to drive growth." The new orders index rose to 56.7 in July from 56 the prior month, also a seventh month of growth. New export orders rose to 53 in July, flipping from contraction at 48.5 the prior month. "Geopolitical risk, especially in the Middle East, pertaining to commodity and energy markets remains a concern," a transportation equipment executive said in an ISM survey response. "There has been some increased cost and transit time for rerouted shipments due to conflicts in the Red Sea, Strait of Hormuz and Suez Canal." The price index came in at 71.1, falling from 73 but still a 22nd consecutive month of expansion. Aluminum, copper, freight, fuel, metal products, oil-based products, semiconductors, soybean meal and steel products were among commodities that were up in price. The employment index rose to 52.8 from 49.7 in June, the first expansion in 33 months. Inventories edged down to 51.2 in July from 51.4, showing slowing growth. "We are seeing a very opportunistic and reactive marketplace," a chemical products executive said in a survey response. "Some customers are reducing inventory; others are pulling forward demand." By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Oman eyes potential 33pc emissions cut over 2024-35

26/08/03
News
26/08/03

Oman eyes potential 33pc emissions cut over 2024-35

London, 3 August (Argus) — Oman has released a new climate plan, with an absolute emissions reduction target of up to 33pc over 2024-35, depending on the level of international support received. The country's government committed to an unconditional reduction of 7pc in emissions by 2035, from a 2024 baseline, and an additional 26pc reduction over the same timeframe on a conditional basis. National climate plans submitted by developing countries to UN climate body the UNFCCC are often split into unconditional and conditional actions — the latter reliant on external financial or technical support. Oman estimated its total emissions in 2024 at 93.6mn t/CO2 equivalent (CO2e). It has changed its approach, now using 2024 as its baseline, rather than using a business-as-usual trajectory. Oman plans to reach net zero carbon emissions by 2050. The government plans to reduce emissions by expanding renewable energy, improving energy efficiency and managing land and water resources sustainably to maximise carbon sinks. It aims to ramp up waste-to-energy, address methane from landfill sites and look at "gradual adoption" of carbon capture, use and storage (CCUS) in heavy industry. The government also flagged green hydrogen as a "major diversification pathway". Oman has a green hydrogen production target of at least 1mn t/yr by 2030 and up to 8.5mn t/yr by 2050, according to the plan. But for the time being, Oman's economy "remains heavily dependent on oil and gas exports", the plan noted. The country has a "clear direction toward economic diversification", it said. The government plans to reduce the oil sector's share of GDP to 16pc by 2030 and 8.4pc by 2040. "Oil activities" accounted for 32pc of GDP in the fourth quarter of 2024, according to the country's foreign ministry. Oman, a member of the Opec+ group, produced 923,500 b/d of crude in June . Oman's new plan also set out the estimated investment needed to reach its emission reduction targets — a total of $31bn over 2026-35 to abate 30.4mn t/yr of CO2e across energy, industry, waste and agriculture. Much of the plan also focuses on adaptation — adjusting to the effects of climate change where possible. Water stress and availability is a key area for Oman, and the plan notes a "clear warming trend" in the country — its mean temperature increased by around 0.4°C per decade between 1980 and 2013. The plan is Oman's third nationally determined contribution (NDC) under the Paris climate agreement. Signatories to the Paris agreement are required to submit NDCs every five years, rising in ambition each time. While countries reach decisions at Cops, the NDCs are the chief route for the implementation of climate action. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Jet engines driving nickel, PQ titanium demand

26/08/03
News
26/08/03

Jet engines driving nickel, PQ titanium demand

London, 3 August (Argus) — Aircraft engine manufacturing is driving demand for nickel, nickel-based superalloys and premium-quality (PQ) titanium products, and requirements will continue to increase as new alloy production capacity is commissioned, attendees at the recent Farnborough International Airshow told Argus . Engine original equipment manufacturers (OEMs) significantly increased deliveries in the first half of 2026, lifting material requirements from melters, casting foundries and forgers. US-based Aerospace delivered 269 widebody engines in the first half of 2026, up from 222 units a year earlier, while UK OEM Rolls-Royce delivered 157 widebody units, up from 122 a year earlier. On the narrowbody market, CFM International — a joint venture between GE and France's Safran — delivered 1,030 LEAP engines in the same period, from 729 a year prior. Pratt & Whitney, a subsidiary of US aerospace group RTX, increased deliveries by 15pc in the second quarter, but did not disclose shipment totals. Constrained original equipment (OE) engine supply and aftermarket capacity has been a well-documented bottleneck over the past two years, but first-half deliveries indicate a shift, attendees said. Communications from Airbus and Boeing also confirm that engine bottlenecks are easing, except for Airbus' dispute with Pratt & Whitney over geared turbofan deliveries for the A320neo. Boeing expects GEnx engine delays to resolve "this summer", allowing production to rise to 10 jets/month before year end, although seat certification problems persist. Airbus' limit on the A350 also lies inside the cabin, with shortages of lavatories, galleys and linings the main constraint to reaching rate 12 by 2028. Demand for premium-quality titanium billet, used for engine components, is strong, a distributor told Argus at the airshow. Lead times for PQ billet have increased, with one supplier in June quoting delivery in 3-6 months. Two producers also reported strong demand for titanium alloy and Inconel 718 fasteners, which are closely tied to OEM build rates. Further upstream, demand for critical high-temperature alloying elements has surged in the past year, lifting tungsten, rhenium, tantalum, niobium, hafnium and cobalt prices in conjunction with supply tightness. Alloy capacity expansions to lift material demand Engine OEMs and specialty alloy producers have made significant investments in the past year — including several announced at Farnborough — to expand melting, casting and forging capacity, or to secure existing supply lines. Expansions have centred on compressor and turbine discs and blades, where nickel-based superalloys are critical. Alloy producers will require more nickel and alloying elements as they commission and ramp up new capacity from late 2027-30. Still, alloy producers will need to balance demand for additional capacity between commercial aerospace and competing end-markets, notably defence and industrial gas turbines. Texas-based ATI is adding a fifth vacuum induction melting furnace in Monroe, North Carolina, which will increase capacity by approximately 8-10pc, or roughly 9,000 t/yr, when it starts up in the second half of 2027. UK's Doncasters is investing $50mn to build a new superalloy production facility in Auburn, Alabama, the state's commerce department and Doncasters announced at the airshow. UK-based Special Melted Products (SMP), a subsidiary of Italy's Acciai Speciali Cogne, signed two multi-year contracts with Rolls-Royce worth an estimated $240mn at Farnborough. SMP signed an agreement with Consarc Engineering for a new 18t VIM furnace, two 20t electro slag remelting furnaces and two 20t vacuum arc remelting furnaces a few weeks before the airshow as part of its Project Vulcan expansions, scheduled for commissioning in 2028. SMP has also acquired a 7,000t forging press from Danieli Group, which is scheduled to start operations next year. Safran renewed a contract with French specialty metals company Aubert & Duval for the production of CFM Leap engine forged parts. Safran is also commissioning a new 30,000t hydraulic press in Gennevilliers and additional production lines for complex rotating parts in Le Creusot in 2029, and a new turbine casting facility in Rennes next year. Melrose-owned GKN continues to invest in its foundry business — TPC Components — following its 2025 acquisition, to strengthen in-house superalloy castings production, it said last week. By Samuel Wood Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Japan's 1.1GW Taketoyo biomass-coal plant to revamp

26/08/03
News
26/08/03

Japan's 1.1GW Taketoyo biomass-coal plant to revamp

Tokyo, 3 August (Argus) — Engineering firm Kawasaki Heavy industries (KHI) will carry out renovation work at Japan's 1,070MW Taketoyo coal- and-biomass co-firing power plant. KHI will renovate the plant's wood pellet fuel-conveying facilities at the Taketoyo No. 5 unit, in order to prevent fires and explosions by improving dust collection, the company said on 31 July. The renovation will also include the installation of fire monitoring equipment. The company aims to complete the work by June 2028. The Taketoyo plant started coal- and-biomass co-firing operations in August 2022, consuming around 500,000 t/yr of wood pellets at a biomass rate of 17pc. But the plant was hit by a fire seemingly caused by a dust explosion , in January 2024, and halted operations until December. Following repair work, the plant resumed operations in January 2025, burning only coal. The power plant in Japan's Aichi prefecture is currently operating only during high demand seasons for electricity in summer and winter, to reduce greenhouse gas (GHG) emissions. The holding company Jera, which is Japan's largest power producer by capacity, initially aimed to restart biomass co-firing operations in the first quarter of 2027, but postponed it to June 2028 . Jera plans to decrease the biomass rate from previous 17pc to 8pc when operations resume in order to enhance safety. By Takeshi Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Uganda's Stack Carbon signs major carbon credits deal

26/08/03
News
26/08/03

Uganda's Stack Carbon signs major carbon credits deal

Mumbai, 3 August (Argus) — Uganda-based climate technology firm Stack Carbon has signed a multi-year offtake agreement with US-based CO2 removal (CDR) asset manager Wild Assets for the future delivery of tens of thousands of tonnes of durable carbon removal credits from its enhanced rock weathering (ERW) project in Uganda, the firm said on 3 August. The companies described the agreement as the largest ERW offtake from Africa to date, highlighting growing demand for high-integrity carbon removal credits from the continent and rising buyer confidence in African-developed CDR projects. Under the project, finely crushed basalt is applied to farmland to accelerate the natural weathering of silicate rock, permanently removing atmospheric CO2. The approach is also expected to improve soil health, boost crop yields and strengthen climate resilience for thousands of smallholder farmers, Stack Carbon said. The project is registered under carbon registry Rainbow's ERW standard, which provides a framework for monitoring, reporting and verification of durable carbon removals. "This agreement is a defining milestone for Stack Carbon and for the future of durable carbon removal in Africa," Stack Carbon founder and chief executive Bashir Dan said. "As the largest ERW offtake agreement from the continent to date, it demonstrates growing confidence in African innovation and in the ability of locally led climate technology companies to deliver high-integrity carbon removal at scale." By 2035, Stack Carbon aims to deliver more than 1mn durable CDR credits through ERW while regenerating around 250,000 hectares of farmland across Uganda and Madagascar, creating long-term environmental and economic benefits for an estimated 500,000 people in farming communities, Dan told Argus . The transaction is Wild Assets' largest ERW offtake to date and its first investment in Africa, it said. By Shribalaji Shenbagaraj Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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