Latest news with #smelting
Bloomberg
a day ago
- Business
- Bloomberg
China's Copper Boom Under Threat as Miners Test Bargaining Power
The unrelenting expansion of Chinese copper processing capacity over the past few years has now become a global headache, as smelters scramble to secure the ore they need to produce the vital industrial metal. Output in the world's top producer of the refined metal has ballooned to a record this year, even in the face of trade tensions wars that are clouding the outlook for demand. The resulting competition has handed bargaining power to some of the world's largest miners.
Reuters
4 days ago
- Business
- Reuters
China's Sinomine halts Namibia copper smelter, citing concentrate shortage due to global 'overcapacity'
WINDHOEK, June 6 (Reuters) - China's Sinomine Resource Group ( opens new tab said on Friday it has temporarily paused copper smelting operations at its Tsumeb plant in Namibia, citing a shortage of concentrate following a rapid expansion in smelter capacity worldwide. Sinomine acquired the Tsumeb smelter, one of the few facilities in the world that can treat arsenic and lead-bearing copper concentrates, from Dundee Precious Metals ( opens new tab in 2024. The smelter, with capacity to process 240,000 metric tons of copper concentrate annually, has previously processed metal from countries such as Chile, Peru and Bulgaria. Global copper smelting capacity has expanded rapidly in recent years, outstripping production of the metal whose demand has been boosted by its use in renewable energy technologies, including electric vehicles. Sinomine Tsumeb Smelter CEO Loggan Lou said in a statement that increased smelting capacity in major copper-producing regions has "resulted in substantial overcapacity". "This has led to a shortage of copper concentrate, placing pressure on smelters worldwide, including Tsumeb," Lou said. Sinomine plans to upgrade the smelter to enable the commercial production of multiple critical metals and minerals. Last September, Sinomine announced that the Tsumeb Smelter contains 746 metric tons of germanium, a critical mineral essential for chipmaking, infrared technology, fibre optic cables, and solar cells. The smelter is also exploring the addition of germanium and zinc smelting lines to the smelter.
Yahoo
24-05-2025
- Business
- Yahoo
Lawmakers pass Reindustrialize Oklahoma Act to help fund aluminum smelting plant
OKLAHOMA CITY (KFOR) — After the announcement that a $4 billion aluminum smelting plant was headed to northeast Oklahoma, lawmakers passed a bill that would give millions of dollars in incentives. 'It's the first smelter, aluminum smelter company, or factor manufacturer that's been built in the United States in 45 years,' said Gov. Stitt on Wednesday. Emirates Global Aluminum (EGA) is the manufacturer that the act is aimed at. Oklahoma entered into an agreement with one of the world's largest aluminum manufacturers to build a production plant in northeast Oklahoma, which is expected to create an estimated 2,800 new jobs. According to the Governor's Office, the $4 billion project with EGA would create 1,000 direct jobs and 1,800 indirect jobs. Lawmakers discussed the pros and cons on the floor when voting for the act. When all is said and done, the plant will get over $800 million in state dollars or around that amount of money. 'I think Oklahoma could have gotten a better deal,' said Senator Mary Boren (D-Norman). Senator Boren said that the state is investing a lot of money in a plant that will end up providing more money for the entire country. Aluminum smelting has been known to be a serious water and air polluter, but Senator Boren said that EGA and its country are aligned with the Paris Climate Agreement. 'Senator Kirt asked representatives if they're going to follow Oklahoma standards or are they going to continue to follow the standards that they're business has for environmental priorities. They looked in a somewhat horrified way, 'why would we ever reduce our standards, that we take a lot of pride in,'' said Senator Boren. Agreement reached to bring major aluminum plant to Oklahoma EGA is the world's largest premium aluminum producer. According to the act, they wouldn't get money until they hired 700 people in the first year and then 1,000 continually. Over on the House floor, when questioning the act, lawmakers asked about the priorities the manufacturer has shined a light on. According to EGA's website, one of their goals is to achieve net-zero emissions by 2050 and another is diversity. Diversity, equity, and inclusion has been a hot-button topic on the House and Senate floor in Oklahoma. The Chief Executive Officer for EGA, Abdulnasser Bin Kalban, has said, 'Diversity drives business performance, and is also the right thing for society. Heavy industry is traditionally male-dominated, and our goal is to change that.' On the House floor, Rep. Forrest Bennet (D-OKC) asked Rep. Mike Osburn (R-Edmond) if he knew that the manufacturer prioritized diversity and if it would be a problem with them in the future for potential contracts. 'I don't know the answer to that,' said Rep. Osburn. 'This is a historic day for Oklahoma,' said Senate Pro Tem Lonnie Paxton (R-Tuttle). 'With the passage of the Reindustrialize Oklahoma Act, we are sending a clear message to the world – Oklahoma is open for business and ready to lead the next era of American manufacturing. ROA-25 gives our state a powerful tool to compete for high-impact investments that bring long-term jobs, economic growth, and prosperity to our citizens. This is a smart, pro-economic development policy that only rewards real performance. There is no upfront giveaway. Companies must deliver major private investment and create jobs before any rebates are issued. It's a win-win for Oklahoma workers and our economic future.' Construction is expected to begin in 2026, and production is expected to start between the end of 2029 and the beginning of 2030. The full agreement can be read here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. 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
Washington Post
16-05-2025
- Business
- Washington Post
Oklahoma inks deal with UAE company to build $4B aluminum smelting facility
OKLAHOMA CITY — Oklahoma state officials announced a deal Friday with a private company in the United Arab Emirates for the construction of a $4 billion aluminum manufacturing facility in northeast Oklahoma. Gov. Kevin Stitt and Oklahoma Department of Commerce officials say the deal with Emirates Global Aluminum would result in the first new aluminum smelting facility to be built in the U.S. in 45 years.
