Page 54 - Simandou News Today

A number of refineries in Africa have been offline, either following maintenance as Zambia’s Indeni, or due to a lack of crude supply as Ghana’s Tema. Two refineries in South Africa also remain offline — Engen’s Durban and the Cape Town refinery — as well as Cameroon’s Limbe. Near-term maintenance New and revised entries ** ...

Supply crunch keeps iron ore prices at historic highs Lack of new sources of production likely to keep demand greater than supply 26 May 2021 - 17:45 Lisa Steyn On a tear: The iron ore processing plant at Sishen. Picture: Bloomberg/Waldo Swiegers Despite a few ups and down, iron ore prices remain at levels that defy belief and, with a supply deficit expected to persist for the foreseeable future, there appears to be no end in sight. The bulk product, a critical component...

Australia will lose share over the next five years in the global iron ore market to Brazil because of the latter’s high grade iron ore reserves and exports, according to a new report on the mineral from Fitch Ratings’ offshoot, Fitch Solutions. The loss won’t be much in percentage terms, but in terms of tonnage, Brazil’s production is projected to grow at four times the rate of growth forecast for Australia. The Fitch report, which appeared earlier this week, says global iron ore mine o...

Refinery news roundup: Some refineries in Africa remain offline In South Africa, both the Engen and Cape Town refineries remain offline, whereas Zambia’s Indeni is not expected to restart after a maintenance until later this year. Overall refining output in Africa remains low as many refineries remain closed or are operating intermittently, according to Africa-focused oil consultancy CITAC. In South Africa alone, refinery output fell 28% last year as all refineries were closed in April and Ma...

China’s not winning its trade war with Australia We’re sorry, this service is currently unavailable. Please try again later. Dismiss Updated 11.55am 11.55am Normal text size Advertisement It must be a source of increasing frustration for China’s bureaucrats that its own economic successes are overwhelming their efforts to sanction Australia for our less than diplomatic commentary on the origins of the pandemic and China’s treatment of the Uighurs in the Xinjiang region. Whi...

Global output growth will average 2.4% over 2021-2025 compared to -2.0% over the previous five years, according to Fitch Solutions.

After starting a trial in the US to demonstrate that its former partner on the Simandou iron ore project, Beny Steinmetz, had fraudulently invested funds in New York property, the Brazilian mining

Josh Frydenberg is banking on a post-Covid surge to boost the budget – but here’s what could go wrong Ben Butler © Provided by The Guardian Photograph: Mike Bowers/The Guardian Josh Frydenberg is banking on a post-Covid economic surge to fund big personal income tax cuts for the rich and a modest infrastructure program while at the same time pushing the budget back towards balance. Frydenberg finds himself in a similar situation to Wayne Swan in 2009, tasked with rebuildi...

Past and future collide in iron ore mania Speculators are pushing iron ore prices to silly levels. But beneath this, surging demand and Australia’s stubbornly static supply are driving the market. Updated Save Share It’s not often bitcoin and iron ore appear in the same sentence, but the incredible rise in the spot price of the latter – iron ore is now up 20 per cent in a week – suggests they have at least one thing in common just now. That is, speculators are pushing price...

Last modified on Wed 12 May 2021 01.11 EDT Josh Frydenberg is banking on a post-Covid economic surge to fund big personal income tax cuts for the rich and a modest infrastructure program while at the same time pushing the budget back towards balance. The treasurer finds himself in a similar situation to Wayne Swan in 2009, tasked with rebuilding the economy after a global downturn. Swan went for a big spend on infrastructure – not just roads and rail but also the national broadband network...