Latest news with #Trafigura
Asharq Al-Awsat
24-05-2025
- Business
- Asharq Al-Awsat
Egypt Seeks Up to 60 LNG Shipments
Egypt is in advanced talks with global energy and trading firms to secure between 40 and 60 shipments of liquefied natural gas (LNG), aiming to meet urgent energy needs before summer demand peaks, according to sources familiar with the matter cited by Reuters. Cairo is negotiating with companies including Saudi Aramco, Trafigura, and Vitol for LNG supply deals extending through 2028, signaling a strategic shift from exporter to long-term importer amid declining domestic production, Asharq Bloomberg reported. Sources say the Egyptian Natural Gas Holding Company (EGAS) has received 14 bids for supply contracts ranging from 18 months to three years. The rising demand this year could push Egypt's monthly LNG import bill to nearly $3 billion starting in July, up from approximately $2 billion last year. This move reflects Egypt's effort to lock in long-term contracts to reduce exposure to volatile spot market prices. It also underscores the country's deepening energy challenges: a sharp drop in gas production, increasing population, and soaring summer temperatures are straining domestic supply and forcing reliance on global markets. Contract awards are expected next week. Plans call for 110 LNG shipments in the second half of 2025, 254 in 2026, and 130 in the first half of 2027. One source said bids price LNG at 80 to 95 cents per million British thermal units (MMBtu) above the European benchmark, with payment deferrals of up to 180 days. European gas futures currently trade at about $12 per MMBtu, though LNG cargoes typically sell at a discount. Egypt is also expanding infrastructure, including the addition of floating storage and regasification units, and is negotiating long-term supply deals with Qatar. A recent Goldman Sachs report estimated Egypt's 2024 energy deficit at over $11.3 billion, doubling the current account shortfall to 6.2% of GDP, compared to 3.2% the previous year. President Abdel Fattah al-Sisi has directed the government to preempt power outages this summer, according to a presidential statement this week. A government source told Reuters Egypt is also considering importing at least 1 million tons of fuel oil, though LNG remains the preferred option due to its more flexible financing. With gas output in February hitting its lowest level in nine years, Egypt imported 1.84 million tons of LNG in early 2025—roughly 75% of total 2024 imports, according to S&P Global Commodity Insights.
Reuters
21-05-2025
- Business
- Reuters
Australia's Nyrstar seeks government funding for antimony production
MELBOURNE, May 21 (Reuters) - Nyrstar, owned by global commodity trader Trafigura, could potentially produce the critical mineral antimony at its South Australian processing plant but would need government support to do so, its CEO Matt Howell said. New supply of the strategic metal crucial to the production of ammunition, night-vision goggles, and infrared sensors is in high demand after China, the world's biggest antimony producer, imposed export controls last year. As part of a strategic review of Nyrstar's Australian operations Trafigura is undertaking, Nyrstar found it would be able to produce up to 5,000 tonnes of antimony metal or antimony trioxide a year at its multi-metals processing plant in Port Pirie by adding an additional processing stage after lead smelting, the company said. "We have the capability to produce a range of critical minerals including antimony to help meet global demand," Nyrstar CEO Matt Howell said. "However, it will require significant investments and support to address the unsustainable market pressures that Australian smelters are facing," he said in a statement to Reuters on May 5. Howell did not specify how much government funding would be necessary to support output at the Port Pirie site or when it could begin producing antimony metal. Australia's smelters are struggling with high domestic power costs and an oversupply of processing capacity in China that has squeezed the fees they can charge to process material. The Australian government is offering billions of dollars in funding to support critical mineral processing. "Antimony is defined as a critical mineral by the Australian Government, which provides a pathway to access substantial government support," a South Australian government spokesperson said. He added that complex refineries were key to the state's economy.
Yahoo
21-05-2025
- Business
- Yahoo
Australia's Nyrstar seeks government funding for antimony production
MELBOURNE (Reuters) - Nyrstar, owned by global commodity trader Trafigura, could potentially produce the critical mineral antimony at its South Australian processing plant but would need government support to do so, its CEO Matt Howell said. New supply of the strategic metal crucial to the production of ammunition, night-vision goggles, and infrared sensors is in high demand after China, the world's biggest antimony producer, imposed export controls last year. As part of a strategic review of Nyrstar's Australian operations Trafigura is undertaking, Nyrstar found it would be able to produce up to 5,000 tonnes of antimony metal or antimony trioxide a year at its multi-metals processing plant in Port Pirie by adding an additional processing stage after lead smelting, the company said. "We have the capability to produce a range of critical minerals including antimony to help meet global demand," Nyrstar CEO Matt Howell said. "However, it will require significant investments and support to address the unsustainable market pressures that Australian smelters are facing," he said in a statement to Reuters on May 5. Howell did not specify how much government funding would be necessary to support output at the Port Pirie site or when it could begin producing antimony metal. Australia's smelters are struggling with high domestic power costs and an oversupply of processing capacity in China that has squeezed the fees they can charge to process material. The Australian government is offering billions of dollars in funding to support critical mineral processing. "Antimony is defined as a critical mineral by the Australian Government, which provides a pathway to access substantial government support," a South Australian government spokesperson said. He added that complex refineries were key to the state's economy.
Times
20-05-2025
- Automotive
- Times
Greenergy is latest biodiesel plant at risk from cheap US imports
One of Britain's four remaining biodiesel plants is at risk of being shut because of competition from subsidised American imports, in the latest sign of distress in the biofuels sector. Greenergy, owned by the commodities trading giant Trafigura, said that it had temporarily suspended operations at its Immingham site in Lincolnshire while it conducted 'a strategic review to evaluate the plant's commercial viability amid the significant challenges facing the UK biofuels industry'. The plant employs 60 people and accounts for about a quarter of the UK's domestic production of biodiesel, which is primarily made from waste products such as used cooking oils. Biodiesel is blended alongside fossil fuel diesel to account for 7 per cent of the diesel sold at pumps around the country,
Yahoo
15-05-2025
- Business
- Yahoo
Denarius Metals Announces Receipt of 20-Year Water Concession and Now Has All Required Permits to Re-Start Operations at the Aguablanca Project in Spain; Files First Quarter 2025 Interim Filings on SEDAR+
Toronto, Ontario--(Newsfile Corp. - May 15, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or "the Company") announced today that it has filed its unaudited interim condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three months ended March 31, 2025. These documents can be found on its website at and by reviewing its profile on SEDAR+ at All financial figures contained herein are expressed in U.S. dollars unless otherwise noted. Denarius Metals also announced today that it has received important news in Spain that the application for the Water Concession for the Aguablanca Project has been approved for a 20-year period. This follows the news in March 2025 that the European Commission published a decision recognizing the Aguablanca Project in a list of 47 critical raw material projects located across 13 EU Member States as "Strategic Projects", a significant milestone in the implementation of the Critical Raw Materials Act. With the Water Concession in hand, the Aguablanca Project now has all the permits required to commence the de-watering of the underground mine to re-start operations. In its role as operator of the Aguablanca Project, the Company is currently finalizing arrangements for project financing directly through Rio Narcea Recursos, S.L. ("RNR"), owner of the Aguablanca Project, to fund the capital expenditures associated with the plant refurbishment and de-watering activities, site administration costs and initial working capital. It is estimated that the de-watering program will take 6 to 9 months to complete after which contract mining operations will be able to commence. Refurbishment of Aguablanca's processing plant will be carried out simultaneously with the de-watering program. Aguablanca is shaping up to become the Company's second mine coming into operation within the next 12 months. Denarius Metals commenced mining operations in April 2025 at its Zancudo Project in Colombia. During the early production phase, expected to run into the fourth quarter this year when its 1,000 tonnes per day processing plant goes into operation, mined material is being crushed onsite and then shipped to a local port for sale to Trafigura Pte. Ltd. ("Trafigura"). First production is expected in the second quarter of 2025. In February 2025, Denarius Metals leveraged its offtake contract with Trafigura to secure the financing required to fully fund the completion of construction at its Zancudo Project through a prepayment facility pursuant to which the Company received $2.5 million from Trafigura in the first quarter of 2025 and will receive up to an additional $6.5 million in two further advances as the Company reaches certain milestones in 2025 related to the construction activities at its Zancudo Project. The Company reported the final results in April 2025 from the drilling campaign carried out in the latter part of 2024 on the second target at the Zancudo Project, Las Brisas. This phase of the drilling campaign comprised a total of 2,435 meters completed in 13 drill holes. The results reinforce that systematic, more tightly spaced, infill drilling has produced very positive results similar to those previously achieved at the Los Albertos Target as announced in September 2024. In addition, the discovery of a new mineralized manto vein close to the Manto Antiguo vein introduces a new player in the future exploration plan for the Las Brisas Target. These results confirm the results from previous drilling campaigns and have better delineated a high-grade ore shoot, which is still open along strike, within the main Manto Antiguo vein that significantly de-risks the future production at the Zancudo underground operation. The Company is preparing an updated Mineral Resource estimate incorporating the 2024 drilling program results to be completed in the third quarter this year. As the Company continues to ramp up the production rate at Zancudo, mine development will be supported with an ongoing exploration program aimed at the continued expansion of the high-grade resources at the Zancudo Project. To bolster its liquidity to fund ongoing corporate, operating and investing activities at its projects in Spain, the Company completed a non-brokered private placement of common shares and warrants in March 2025 raising additional net cash proceeds of approximately $3.4 million and settling related party bridge loans amounting to approximately $1.1 million. As at March 31, 2025, the Company's cash position stood at $3.1 million, up from $1.1 million at the end of 2024. The Company signed a binding Letter of Intent on May 7, 2025 with Quimbaya Gold Inc. ("Quimbaya") establishing a 50/50 joint venture aimed at formalizing existing small-scale mining operations located within Quimbaya's Tahami Project which is located in the Segovia Gold District of Antioquia, Colombia. Both parties are working diligently to finalize a definitive agreement for the joint venture as soon as possible, subject to customary regulatory and corporate approvals. The Company reported a net loss of $4.2 million ($0.04 per share) in the first quarter of 2025, down from the net loss of $11.1 million ($0.18 per share) reported in the first quarter of 2024. Compared to the first quarter last year, the net loss in the first quarter of 2025 included a much lower non-cash loss related to the change in fair value of its Convertible Debentures. The first quarter 2024 net loss also included $1.5 million of expenses related to the acquisition of its equity interest in RNR, including non-cash accretion expense associated with its acquisition obligation and one-time due diligence costs. About Denarius Metals Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF". In Colombia, Denarius Metals has commenced mining operations at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, located in the Cauca Belt, about 30 km southwest of Medellin. Denarius Metals recently signed a binding letter of intent with Quimbaya Gold Inc. related to development of its Tahami Project which is located in the Segovia Gold District of Antioquia, Colombia. In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has recently been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain. Additional information on Denarius Metals can be found on its website at and by reviewing its profile on SEDAR+ at Cautionary Statement on Forward-Looking Information This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including Zancudo, production and construction activities, receipt of future advances from Trafigura, exploration programs, re-start of operations and timing to commence production at the Aguablanca Project and mineral resource updates and preliminary economic assessments. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 which is available for view on SEDAR+ at Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. For Further Information, Contact: Michael DaviesChief Financial Officer(416) 360-4653investors@ To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
