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Bloomberg

Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

China plans to raise long-term coal prices in 2022 after squeeze

3rd December 2021 China plans to raise the benchmark price for long-term coal contracts in 2022 after a supply scare earlier this year, adding to inflationary pressures faced by manufacturers. The National Development and Reform Commission will set the benchmark rate for thermal coal at 700 yuan ($110) a ton for... 

Virus-battered South Africa readies mandatory vaccine policy

3rd December 2021 South Africa, which is contending with a massive upsurge in coronavirus infections following the onset of the omicron variant, is readying a mandatory vaccine policy and is set to implement it early next year, a senior labour union official said. Broad agreement has been reached on the policy in... 

Chinchillas throw wrench in Gold Fields' Chile mine-expansion plan

2nd December 2021 Gold Fields’ flagship $860-million expansion project in Chile has stumbled over a large rodent, whose prized fur saw it hunted to the brink of extinction. The Johannesburg-based gold miner must come up with a new plan to move more than 20 short-tailed chinchillas from its Salares Norte site after... 

China's companies are going to any length for a hold on lithium

1st December 2021 Automobile executives in China have had a lot to contend with this year. But those operating in the electric-car space (which is almost everyone these days) have had it especially tough. Not only has the world’s biggest EV market become even more crowded in 2021 but the explosive sales —... 

Steel’s path to go green will cost industry up to $278bn

1st December 2021 The world’s steel industry could eliminate its greenhouse gas emissions by 2050 through ramping up recycling, using hydrogen for fuel and capturing carbon from older plants, according to a BloombergNEF study. But getting there won’t be easy. Steel production generates an estimated 7% of global... 

Even the battery boom can’t escape world’s supply chain woes

1st December 2021 Soaring commodity prices and supply chain bottlenecks threaten to push up the cost of batteries seen as crucial in the fight against climate change. Higher raw material costs could push the average price of a lithium-ion battery pack to $135 per kilowatt-hour in 2022, a 2.3% gain from this year’s... 

The dirtiest fossil fuel in America has never been more expensive

30th November 2021 The cheapest coal in America has never been so expensive, as demand for the dirtiest fossil fuel surges ahead of winter. Coal from the Powder River Basin in Wyoming and Montana more than doubled in the past month to $30.70/t, according to data from S&P Global Market Intelligence released Monday.... 

Activist Bluebell asks Glencore to separate its coal business

30th November 2021 Activist hedge fund Bluebell Capital Partners has asked Glencore to separate its thermal coal business because it has become a barrier to investment. The hedge fund firm said that the commodities giant could realise more value for shareholders if it separates that business, simplifies its asset... 

Vale is starting to turn mine waste into construction materials

30th November 2021 One of the world’s biggest mining companies is getting into the construction business. Vale is starting to extract sand from material left over from iron ore processing to supply civil construction projects in Brazil. At the same time, the Rio de Janeiro-based mining giant is developing a type... 

South Africa seeks to end policy ambiguity delaying Eskom rescue

29th November 2021 South Africa will soon agree on a comprehensive, unified approach to turning around Eskom Holdings, which is saddled with R402-billion in debt, according to the minister who oversees the state power utility. Eskom, which depends on coal for the bulk of its electricity generation, has subjected... 

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