Group items tagged

US speciality brass mill Ansonia Copper and Brass Inc. has announced that it will lay off 85 of the 102 employees at its Liberty Street, Ansonia, factory in Connecticut. The plant manufactures copper alloy rod and wires. Company President Raymond McGee said "it's a very, very difficult situation". He blamed the redundancies, on top of 76 employees laid off in April 2007, on the company's struggle with escalating costs. Since 2002 electricity costs have soared 239%, natural gas 200%, fuel oil 125%, and copper and nickel 500% apiece. Ansonia's other facility in Waterbury, CT, which manufacturers copper alloy tube is unaffected by the announcement.

Further evidence of the impact of the North American economic slowdown on copper demand has recently been published by the ABMS and government statistical bodies. North American copper wirerod production plummeted 9.6% year-on-year to 174,000 tonnes in April. Output had been on a downward trend but the magnitude of the deterioration in April has still come as something of a surprise. A year-on-year increase of 2.0% in North American output January had been followed a 1.0% fall in February and a 2.7% drop in March. In April Canadian output was flat year-on-year due to improving export sales to the US, while US production fell 9.8% year-on-year and Mexican shipments slumped by 17.5%. On a year-to-date basis North American wirerod production was 2.9% lower in the four months to April 2008. Weakening demand from the automotive industry, coupled with a resurgance in copper prices and the return of Russian wirerod imports has clearly led to a deteriorating market situation for domestic mills.

Mueller Industries second quarter results highlight the tough times that the US brass mill industry is facing, but that companies can still operate profitably in a challenging market environment. The company's plumbing and refrigeration segment saw sales fall 11% to US$404m, while its operating profits dropped 32% to US$35m. The company blamed lower shipment volumes and lower spreads for the weaker performance. Sales at the company's OEM division, which includes its brass rod activities, rose 10% year-on-year to US$354m, while its operating profits rose 5% to US$19m. The improvement here is due to acquisition of Extruded Metals. Commenting on the results Harvey Karp, Chairman of Mueller Industries said "Mueller's earnings for the first half of 2008 were achieved despite the continuing decline in the housing industry, the sub-prime mortgage meltdown, the turbulence in the financial markets, rising metal costs, sky-high energy prices and a slowing national economy. Considering these adverse circumstances, we are pleased with the results."

"Donald Sadoway: The missing link to renewable energy Tweet this talk! (we'll add the headline and the URL) Post to: Share on Twitter Email This Favorite Download inShare Share on StumbleUpon Share on Reddit Share on Facebook TED Conversations Got an idea, question, or debate inspired by this talk? Start a TED Conversation, or join one of these: Green Home Energy=Hydrogen Generators-alternative sources Started by Kathleen Gilligan-Smith 1 Comment What is the real missing link in renewable energy? Started by Enrico Petrucco 8 Comments Comment on this Talk 60 total comments Sign in to add comments or Join (It's free and fast!) Sort By: smily raichel 0 Reply Less than 5 minutes ago: Nice smily raichel 0 Reply Less than 5 minutes ago: Good David Mackey 0 Reply 3 hours ago: Superb invention, but I would suggest one more standard mantra that they should move on from and that is the idea of power being supplied by a centralised grid. This technology seems to me to be much more beneficial on a local scale, what if every home had its own battery, then home power generation becomes economically more viable for everyone. If you could show that a system like this could pay for itself in say 5 years then every home would want one. Plus for this to be implemented on a large scale requires massive investment that could be decades away. Share the technology and lets get it in homes by next year. Great ted talk. Jon Senior 0 Reply 1 hour ago: I agree 100%. Localised energy production would also make energy consumers more conscious of their consumption and encourage efforts to reduce it. We can invent and invent all we want, but the fast solution to allowing renewable energies to take centre stage is to reduce the base energy draw. With lower baseline consumption, smaller "always on" generators are required to keep the grid operational. Town and house-l

Newmont Mining Corp. posted a sharply higher second-quarter profit Thursday, with record-high gold prices and production gains pumping revenue past most analysts' expectations. Newmont (NEM:Newmont Mining Corporation News, chart, profile, more Last: 49.02+0.25+0.51% 2:30pm 07/25/2008 Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: NEM 49.02, +0.25, +0.5%) shares rose $1.82, or 3.9%, to close at $48.77. The stock is up 12% over the past 12 months. Newmont reported net income for the three months ended June 30 swung to $277 million, or 61 cents a share, from a year-ago loss of $2.06 billion, or $4.57 a share. The year-ago numbers were heavily skewed by a $1.67 billion write-down tied to the company's exit from merchant banking and a $460 million charge for settling price-capped forwards contracts. Adjusted earnings from ongoing operations more than doubled to $230 million, or 51 cents a share, from $103 million, or 23 cents, a year earlier. Gold sales during the quarter totaled 1.27 million equity ounces, fetching on average $900 an ounce, as the precious metal rode a huge spike in commodity prices. Gold prices were averaging about $600 an ounce a year ago. Costs per ounce rose, however, to $440 an ounce from $417 a year ago. Copper sales accounted for $183 million during the quarter, down from $340 million a year earlier. Newmont stood by its earlier 2008 production forecast of 5.1 million to 5.4 million ounces of gold, with production cost expected to range from $425 to $450 per ounce.

Despite a slowdown in the global economy and a softening in demand for aluminium rolled products in some regions, JSE-listed aluminium reroller Hulamin expected global demand to increase this year. CEO Alan Fourie on Tuesday commented that the company, which exported about 70% of its products, had seen some softening in demand for aluminium rolled products in some regions, but added that demand for these products was expected to grow by between 5% and 7% this year. "Obviously the slowdown of the [global] economy puts pressure on margins, it is an economic consequence, but we are still selling into a growing international market," he said. Locally, however, the softening economic climate was expected to impact on sales volumes for the second half of the year. However, Hulamin expected these high-value products to continue growing as a percentage of its sales in the next few years. Fourie noted that five years ago, these products equated to just over 50% of its sales volumes, while their contribution was just below 60% in 2007. They now comprised about 64% of its total sales volumes. Meanwhile, Hulamin stated that its costs had increased by 16%, influenced by a 58% increase in energy costs, increasing alloying costs caused by magnesium prices rising from $2 000/t to $4 500/t, and increases in other metals. Excluding the cost of increasing energy and metals prices, the company's costs had increased by 6%. Fourie noted that while the rising aluminium costs did not affect its profitability, it did have an effect on its working capital. "We hold aluminium in our working capital. So when the aluminium price increases, the cash tied up in working capital increases and we have seen a significant increase in working capital during this period, because the rand price of aluminium has increased by close to 40% in the last six months," he explained. Further, Fourie did not expect the increasing electricity prices to have too great an impact on its futu

Sony Corp will invest $369 million (40 billion yen) to power up its lithium-ion battery production operations, adding new facilities and augmenting existing lines. The infusion, which Sony said is the first phase of investment in lithium-ion batteries the company is undertaking as part of efforts to reinforce core areas of its component and semiconductor business over the next three years, will be used to construct new production facilities and to enhance existing lines at Sony's lithium-ion battery production sites in Japan, the Motomiya Technology Center and Tochigi Technology Center of Sony Energy Device Corp. Sony said it is making the investment in response to the growing demand for lithium-ion batteries and that the new production facilities will focus on electrodes, battery cell production lines, and charge and discharge equipment, among other technologies. Sony further reminded its expanding lithium-ion battery production in Singapore and China, and said that in total its monthly production capacity will increase from the current level of 41 million cells per month to 74 million cells in 2010. Sony's $369 million investment will start in its current fiscal year and continue through the second half of its fiscal year 2010. Sony's fiscal Q1 2008 concluded in June. Meanwhile, Matsushita Electric Industrial Co recently committed $923 million (100 billion yen) to build a plant in Osaka, Japan, that is expected to bring its cell production to about 75 million a month from its current 25 million cells per month. Sanyo Electric Co has also reportedly announced plans to invest, promising $1.15 billion (125 billion yen) to develop its rechargeable-batteries business over the next three years. That investment is expected to increase cell output to 90 million per month from Sanyo's current 70 million cells per month. All three of the Japan-based companies last year suffered from loses brought on by their battery operations. Sony-made lithium-

Ohio-based supplier of specialty copper alloy products Brush Engineered Materials Inc. reported second quarter results. Q2 2009 sales were US$174.1 million, 29% lower than the same period a year ago but an improvement of 29% from the first quarter this year. Net loss was US$0.8 million versus net income of US$7.2 million in Q2 2008. The Specialty Engineered Alloys segment reported Q2 sales of US$41.2 million, compared to sales of US$83.0 million the same period in 2008. Operating loss for Q2 was US$9.3 million compared to an operating profit of US$4.8 million a year ago. The decline in segment sales was primarily due to the effect of the severe global recession in key markets including telecommunications, computer, automotive electronics, oil and gas, aerospace and heavy equipment. A portion of the decline was due to lower metal prices. The company is foreseeing an improving order book and is expecting to generate a slight profit in Q3 this year with higher sales volume and positive impact from its cost-reduction activities.

Italian leading manufacturer of copper and copper alloy products KME said that its H1 output dropped 30% to 218,000 tonnes from 313,000 tonnes for the same period a year ago. The company said that there is 'persistent uncertainty and fears that an impulse to industrial activity triggered by a necessity to rebuild stocks will not be sufficient to consolidate recovery.' Demand for copper semis has been badly hit due to the economic downturn as residential construction activities are halted. Demand from industrial production is also adversely affected by a slowdown in investments in new plants and machinery. However, a fall in copper prices earlier in the year helped easing substitution threats from cheaper materials, KME said. The company previously announced that its consolidated sales fell 45% year-on-year to €898.5m (US$1.29b) for the first half of 2009. Net loss was €20.1m, compared to €12.3m of net profit a year ago.

Brazilian refined copper wire exports fell sharply year-on-year in March as Argentina and Costa Rica continued to reduce shipments. Exports for the month totalled 1,848 tonnes, down 41.6% from the same period last year, according to figures from the country's trade ministry. The figure was up from the 1,446 tonnes exported in February. However, combined exports for the first quarter of 2013 stood at 6,220 tonnes, down 47.1% year-on-year. Export revenues stood at $15.09 million, compared with $27.62 million in March 2012. Wire thinner than 6mm accounted for 1,135 tonnes of the exports, whereas other kinds of refined copper wire accounted for 712 tonnes. As in the previous month, Argentina was the main Brazilian copper wire buyer with 1,311 tonnes, although this total was less than the 1,835 tonnes it imported in March 2012. Costa Rica, the second main buyer, registered 203 tonnes, compared with 402 tonnes in the same month last year.

Wanma Cable recently announced that for the last year its operating income was RMB2.6 billion ($0.4 billion) increasing by 21.32% year-on-year, and net profit attributable to shareholders of listed companies was RMB103.6 million ($16.4 million) increasing 6.39% year-on-year. In product layout, the company consolidated its MV/LV and EHV market positions while establishing a special cable business division to intensify efforts to develop a special cable business. The company has secured a good start in new fields, such as rail transit, power generation, petroleum and petrochemical, wind power and coal mining. Wanma Cable's CEO recently said that the income target of company in this year was RMB3.1 billion ($0.5 billion) increasing by 20% year-on-year, based on the copper price keeping last year's price level. The company completed an investment plan in EHV and MV/LV cable through an IPO raising funds."

The Japanese Electric Wire & Cable Maker's Association has announced that electric wire shipments in fiscal 2011 increased by 0.3% in total from the previous year to 685,020 tons. The year-on-year increase in shipment levels for a second consecutive year was despite the impact of the earthquake. Although those for electricity and electric machinery fell below the previous year's level, those for construction/building and automobiles recovered to increase the total figures and those for communication increased by 6.1% year-on-year to 15,728 tons. The figures for electric wire shipments for electricity declined by 13.2% year-on-year to 61,247 tons and fell significantly below the previous year's figures as electric power companies decreased capital investments in the aftermath of the earthquake. On a monthly basis, they also declined in almost all months.

A new era for commodities Cheap resources underpinned economic growth for much of the 20th century. The 21st will be different. NOVEMBER 2011 * Richard Dobbs, Jeremy Oppenheim, and Fraser Thompson Source: McKinsey Global Institute, Sustainability & Resource Productivity Practice In This Article Exhibit: In little more than a decade, soaring commodity prices have erased a century of steady declines. About the authors Comments (2) Has the global economy entered an era of persistently high, volatile commodity prices? Our research shows that during the past eight years alone, they have undone the decline of the previous century, rising to levels not seen since the early 1900s (exhibit). In addition, volatility is now greater than at any time since the oil-shocked 1970s because commodity prices increasingly move in lockstep. Our analysis suggests that they will remain high and volatile for at least the next 20 years if current trends hold-barring a major macroeconomic shock-as global resource markets oscillate in response to surging global demand and inelastic supplies. Back to top Demand for energy, food, metals, and water should rise inexorably as three billion new middle-class consumers emerge in the next two decades.1 The global car fleet, for example, is expected almost to double, to 1.7 billion, by 2030. In India, we expect calorie intake per person to rise by 20 percent during that period, while per capita meat consumption in China could increase by 60 percent, to 80 kilograms (176 pounds) a year. Demand for urban infrastructure also will soar. China, for example, could annually add floor space totaling 2.5 times the entire residential and commercial square footage of the city of Chicago, while India could add floor space equal to another Chicago every year. Such dramatic growth in demand for commodities actually isn't unusual. Similar factors were at play throughout the 20th century as the planet's population tripled and demand for various resource

Last week the Spanish government announced plans to cut subsidies for solar photovoltaic (PV) power by about 75%. Although the nation expects to surpass its 2010 goal for installed solar by four fold, the down side is that generous subsidies for the industry have resulted in a ballooning tariff deficit for the country, which has risen to 4.85 billion euros, upfrom 745 million last year. Reuters reported that lending to the Spanish photovoltaic plants has risen to $3.59 billion in the year to day, up from $230.9 million euros last year and $192.44 million in 2006. As a result, the Spanish government will as the energy regulator to cap subsidies for new PV solar capacity at 300 megawatts (MW) per year--200 MW for rooftop systems and 100 MW for ground-mounted systems, which have been the highest growth area. CSP has been slower than PV technology in its emergence on the renewable energy scene, but expectations for the technology, which focuses the heat of the sun to produce steam to drive electricity producing turbines. Projects underway in the U.S. and Spain are expected to produce electricity that is cost-equivalent to electricity produced from burning coal or natural gas.

African Eagle Resources (AIM: AFE; AltX: AEA) today announced a 20% resource increase at its first copper project, Mkushi in Zambia, that will extend the life of the mine by two years. The project is the company's most advanced project and will generate first revenue for African Eagle over the next three to five years. Mark Parker, managing director of African Eagle, told Mineweb today the Mkushi project's feasibility study was scheduled to be completed by the fourth quarter of this year and the company plans to be in open pit production here by 2010. A full mining licence for the project has also been approved. The project's larger resource of 18.5mt at a grade of 0.83% copper has been upgraded to the indicated category which gives the company and investors greater confidence in it. The bigger resource has extended the life of the mine from six to about eight years, while its profitability level will still be further refined. Parker said the feasibility study has not produced any unwanted surprises at this stage and the company has covered any "unknown unknowns" around the project. Mkushi will produce about 30,000t of contained copper annually once the project is up and running.

Mining giants BHP Billiton and Rio Tinto should post record half-year profits as they reap the benefits of an industrial commodities boom, and are likely to use the results to bolster their arguments in a $123 billion (66 billion pound) takeover stand-off. Both are also likely to outline big expansions in key profit sectors such as copper and iron ore, where analysts predict higher prices next year on the back of strong demand for imported raw materials from China's industrial sector. Consenus figures based on forecasts by 20 analysts and provided by BHP point to a 12 percent rise in annual net profit to $15.4 billion, suggesting second-half profit will have risen 30 percent to $9.4 billion from $7.2 billion previously. Analysts polled by Reuters Estimates forecast Rio's January-June underlying profit will have risen 40 percent to $5.2 billion. BHP's financial year ends June 30, while Rio follows the calendar year.

A vote could come as early as this week in the U.S. Senate on a bill introduced by Senate Tax Committee Chairman Max Baucus (D-MT) and Senate Majority Leader Harry Reid (D-NV) containing a one-year renewable energy production tax credit (PTC) extension and a small wind turbine investment tax credit. The Senate bill, S. 3335, contains a one-year PTC extension at its current value. After December 31, 2009, any further extension would include the "presumption" of a cost cap, which would, through a complex formula, put a ceiling on the value of the credits of no greater than 35% of project value. The small wind ITC has a cap of US $4,000 per system.The 10-year cost for the PTC, including all technologies to which it applies, is projected to be approximately US $7 billion, while the ITC, which includes solar, would cost approximately US $907 million over 10 years. The bill also includes provisions to extend through 2014 the tax credits for solar energy, fuel cell and microturbine property, as well as the residential energy efficient property tax credit. Marine renewable energies could also benefit from the bill as credits to build wave, tidal, current and ocean thermal energy conversion systems of at least 150 kilowatts (kW) are extended through the end of 2011.

LDK Solar (NYSE: LDK) said Monday it expects to generate between $2.8 billion and $3 billion in revenue and ship between 1.45 gigawatts and 1.55 gigawatts of silicon wafers in 2009. The Chinese company also said its wafer manufacturing plant has reached 1 gigawatt of annual capacity. It's a noteworthy milestone on the way to production capacity targets of 1.2 gigawatts by the end of the year, 2.2 gigawatts by the end of 2009 and 3.2 gigawatts by 2010 that the company announced earlier this month. LDK shares rose more than 8 percent to reach $49.63 per share in recent trading. The wafer maker's stock has climbed since it posted blockbuster second-quarter earnings on Aug. 11. LDK's net income grew more than fivefold year-over-year to reach $149.5 million, or $1.29 per share. Second-quarter sales more than quadrupled to $441.7 million from $99.1 million from the year-ago period (see LDK 2Q Profit Triples, Margin Falls). Strong demand for its wafers has prompted the company to expand its production capacity quickly. LDK also plans to start making it own polysilicon, in addition to buying the raw material for making the wafers. Production at LDK's first polysilicon plant is expected to begin soon and produce between 100 metric tons and 350 metric tons by December. The company is also building a second plant (see LDK Silicon Confirms Plant Is on Track). LDK CEO Xiaofeng Peng told analysts two weeks ago that the company had a backlog of more than 12 gigawatts of wafer orders. LDK expects to generate between $1.65 billion and $1.75 billion in revenue and ship between 750 megawatts and 770 megawatts of wafers for the whole of 2008.

Fujikura Dia Cable (FDC), the joint venture of Fujikura and Mitsubishi Cable Industries, announced a 14% year-on-year decline in their building cables shipment for the period April-September 2008. FDC describe the current situation as a difficult one, especially due to weak demand. The manufacturer, facing decreased inventory value due to falling copper prices, has to sell at relatively low prices reducing profit margins. FDC cable shipments fell by 8% in 2007 and the initial target for 2008 was to grow back to the 2006 level. However, this was revised down because of sales results. Overall profitability is also affected by rising prices of insulating and sheathing materials.

Japanese electric wire and cable manufacturer Fujikura Ltd reported consolidated financial results for the first quarter ended 30 June 2009. The company achieved sales of ¥112.93b (US$1.19b) for the first quarter, 28.7% lower than the same period a year ago. Operating income for the first quarter was ¥1.84b (US$19.4m), 50.3% lower than the year-ago level. Net income for the same period was ¥111m (US$1.17m), 94.3% lower than a year ago. The company is expecting to make a net loss of ¥800m (US$8.43m) for the first half ending 30 September 2009.

Italian fabricator, Eredi Gnutti Metalli, said in an interview with Reuters that it foresees a slight recovery in brass rod output and further decline in rolled products for the construction sector, which has remained weak. The company plans to produce 110,000 tonnes of brass rod in the current fiscal year (2010/11), compared to 100,000 tonnes a year ago. So far its orders have been driven by restocking activity and it expects industrial demand to return to pre-crisis levels in 3 to 4 years without major shocks in the economy. The company's copper cathode purchase has been cut by 25% from pre-crisis level to around 12,000 tonnes to 14,000 tonnes a year.

The European construction market in 2014 has entered a new phase of growth. After seven years of deep crisis, during which the market has lost 21% in volume, and after a further negative year 2013, EUROCONSTRUCT confirmed that 2014 will be the first year of recovery in construction output. Growth is expected to be moderate in 2014 (+1%) but it will consolidate in the near future: +2.1% in 2015 and +2.2% in the following two-year period.

It's been an incredible year in green news, and coverage on the environment seems to increase every week. Below, you will find links from the last year that I think are important. Unfortunately, tons of good stories didn't make the cut because the links were broken and I couldn't find an adequate replacement. Regardless, 2007 has been a great year, don't you think? Collectively, we're taking big steps to respect the environment. Republicans, Democrats, businesses, individuals, etc. Everyone wants to do their part. And even if you don't click all, er, 151 links below, scan the titles as a reminder of what has been accomplished. Let's keep the momentum in 2008.