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Macron Says Nuclear SMRs Will Be A Part Of His “France 2030” Energy Plan

Macron Says Small Nuclear Reactors Will Be A Part Of His "France 2030" Energy Plan

Nuclear power is officially a part of President Emmanuel…

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This article was originally published by Zero Hedge

Macron Says Small Nuclear Reactors Will Be A Part Of His “France 2030” Energy Plan

Nuclear power is officially a part of President Emmanuel Macron’s plan for France to become a green leader by 2030.

The country is looking at the idea of building smaller nuclear reactors, according to a plan to become a leader in green hydrogen that was detailed this week.

“We must wage the battle of innovation and industrialisation at the same time,” the French president told a gathering of business leaders and young entrepreneurs, unveiling plans to invest €30 billion ($35 billion) to “re-industrialise,” Macron said in remarks, according to France 24

Widely seen as laying out his plan for reelection, Macron said that France was going to build “a low-carbon plane, a small modular reactor as well as two megafactories for the production of green hydrogen” by 2030. 

He called his plans “France 2030” and said they would offer benefits to smaller startup companies in the space.

Speaking about ongoing supply chain shortages, he said: “We must rebuild a framework to ensure the productive independence of France and Europe. The winner takes it all.” 

Macron seems to be adopting the attitude of countries like Finland and Japan, both of whom seem to be once again warming up to the idea of nuclear power. Finland, we noted today, is officially lobbying the EU for “sustainable” status for nuclear power. 

Last month, we pointed out when shares of Japanese utility companies surged after after Taro Kono, the administrative reform minister and the most likely candidate to replace Yoshihide Suga as prime minister, said Japan needs to restart nuclear power plants, in order to realize its goal of achieving carbon neutrality by 2050.

“It’s necessary to some extent to restart nuclear plants that are confirmed to be safe, as we aim for carbon neutrality,” Kono, currently regulatory reform minister, told reporters according to Japan Times.

“Basically, our priority is to increase the use of renewable energy sources, but it would be possible to use nuclear plants whose safety is confirmed for now if there are power supply shortages,” Kono said, adding that while “nuclear plants will disappear eventually, I’m not saying that they should be scrapped immediately, like tomorrow or next year.”

Tyler Durden Thu, 10/14/2021 – 04:15

Author: Tyler Durden

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Energy & Critical Metals

Chinese EV Stocks: The Flying Car News That Has NIO, LI and XPEV Stocks Gaining

Today, Chinese electric vehicle (EV) stocks are seeing some rather impressive price action. Shares of Nio (NYSE:NIO), Li Auto (NASDAQ:LI) and XPeng (NYSE:XPEV)…

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Today, Chinese electric vehicle (EV) stocks are seeing some rather impressive price action. Shares of Nio (NYSE:NIO), Li Auto (NASDAQ:LI) and XPeng (NYSE:XPEV) are all up between 6% and 12% at the time of writing.

Source: Shutterstock

These moves appear to indicate two things. First, U.S. investors are growing more bullish on Chinese equities.

Second, it appears a sector-specific catalyst is at play with Chinese EV stocks. Today, there’s some high-profile news that’s taking these emerging market EV stocks higher. Let’s take a look at what’s driving interest in the Chinese EV sector today.

Chinese EV Stocks Soar on Flying Car News

At XPeng’s annual 1024 Tech day, the company unveiled a number of new developments. However, among the key innovations investors are focused on is the company’s plans for a flying car.

We’re now in the 2020s, and the future envisioned in The Jetsons hasn’t materialized yet. That said, Xpeng aims to change that.

The company’s XPeng X2 will reportedly be available in 2024. XPeng is also reportedly working with HT Aero, an urban mobility company backed by XPeng, to build these vehicles. The company notes that HT already has 15,000 successful flights under its belt. Accordingly, the rollout of the company’s X2 model appears to be more realistic than other options elsewhere around the world.

Additionally, XPeng announced at this event a number of other technological innovations. Faster supercharging technology and new robotic tech anticipated to be used to boost autonomy were other key highlights. Additionally, a new “full-scenario advanced driver assistance” technology expected to be rolled out in the first half of 2023. This sounds a lot like “full self driving,” though investors will have to wait and see what is ultimately rolled out.

For now, XPeng and its Chinese EV counterparts appear to have a number of catalysts investors like right now.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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The post Chinese EV Stocks: The Flying Car News That Has NIO, LI and XPEV Stocks Gaining appeared first on InvestorPlace.

Author: Chris MacDonald

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Tesla Ditches Nickel and Cobalt in Move to Lithium Iron Phosphate (LFP) Batteries

China’s ongoing energy shortage starts to affect domestic battery materials production Tesla ditches nickel, cobalt as prices soar Pilbara Minerals’…

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  • China’s ongoing energy shortage starts to affect domestic battery materials production
  • Tesla ditches nickel, cobalt as prices soar
  • Pilbara Minerals’ (ASX:PLS) third spodumene auction unofficially scheduled for October 26
  • Weekly small cap standouts include Arizona Lithium (ASX:AZL) and QX Resources (ASX:QXR)

Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.

 

All eyes on Pilbara Minerals’ lithium auction

Unofficially scheduled for Tuesday October 26 is  Pilbara Minerals’ (ASX:PLS) third auction on the Battery Material Exchange (BMX) digital platform for 10,000t (SC5.2%) spodumene.

The second auction went off at an incredible $US2,440/t, singlehandedly sparking a historic 86.5% month-on-month increase for average spod pricing industry-wide.

Susan Zou, non-ferrous editor at Fastmarkets, says bids for the upcoming coming auction “will not be as aggressive”.

“While the market consensus is that spodumene tightness will not ease significantly in the short term – despite Pilbara Minerals now producing spodumene from the restarted former Altura lithium project – the bids for the upcoming auction will not be as aggressive as last time because the ascent of lithium prices in China has slowed after the week-long national holiday compared with September, while the shipment time is months away,” Zou said.

 

Tesla ditches nickel, cobalt as prices soar

Tesla posted record revenue and profits in third quarter.

Improved gross margins of 30.5% on its automotive business are an industry benchmark, but Tesla reckons it can do better.

Amid rising material costs, Tesla will switch all its standard range vehicles to lithium iron phosphate based (LFP) batteries.

LFP-based lithium-ion batteries are cheaper and safer than chemistries that use nickel and cobalt, but less energy dense.

 

The switch comes as lithium-ion battery chemical prices are on the rise.

Argus says its minimum 22% nickel sulphate assessment rose by 31% in the last six months to $US4,450-4,650 per tonne today.

Meanwhile, prices for minimum 20.5% cobalt sulphate have increased by 23% over the same period to $US5.59-5.77/lb.

 

Energy-starved China throttles battery materials production

China’s ongoing energy shortage has begun to affect domestic battery materials production, with several companies forced to scale back anode and cathode production in late Q3, according to Benchmark Mineral Intelligence.

China is grappling with a shortage of coal – which fuels most of its electricity supply – due in part to its trade war with Australia.

This has seen metals prices spike as power restrictions on industry are imposed.

“During China’s National Energy Commission meeting in mid-October, Premier Keqiang Li emphasised that extreme electricity cuts need to be corrected to ensure that the northern regions have secure usage of electricity for the winter, signifying that electricity restrictions within China might be relaxed at some stage in Q4,” Benchmark says.

“In the long-term, China seeks to guarantee resource security by addressing the structural issues behind the current electricity supply shortage.

“The government is pushing for an upgrade in coal-powered electricity infrastructure, diversification of energy sources, and mass adoption of energy storage technologies.”

 

Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, and vanadium are performing>>>

 
 
CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % SHARE PRICE [INTRADAY MONDAY] MARKET CAP
AZL Arizona Lithium 94 138 132 692 0.095 $ 137,622,511.52
BUX Buxton Resources 72 72 62 28 0.115 $ 9,387,824.81
TNG TNG Limited 52 60 30 14 0.125 $ 131,197,189.20
QXR Qx Resources Limited 50 125 50 59 0.027 $ 19,990,869.63
LKE Lake Resources 49 43 181 1375 0.87 $ 1,062,055,777.22
PNN PepinNini Minerals 42 24 100 177 0.54 $ 21,431,426.68
INF Infinity Lithium 40 75 11 119 0.21 $ 72,254,428.58
PVW PVW Res 40 115 200 180 0.42 $ 30,479,625.00
AGY Argosy Minerals 33 84 210 448 0.285 $ 312,567,926.00
CAE Cannindah Resources 32 133 302 1014 0.245 $ 121,937,265.54
EUR European Lithium 29 29 90 186 0.12 $ 111,424,488.42
LOT Lotus Resources 28 26 171 301 0.3525 $ 318,108,500.16
PAM Pan Asia Metals 26 22 311 259 0.575 $ 42,722,013.52
BSX Blackstone 24 48 90 78 0.675 $ 218,516,601.60
VUL Vulcan Energy 21 3 96 1107 13.94 $ 1,658,145,468.07
BOA Boadicea Resources 20 17 -23 0 0.21 $ 15,539,979.00
ARR American Rare Earths 20 24 121 75 0.21 $ 67,237,623.57
GLN Galan Lithium 19 29 57 819 1.24 $ 325,297,652.63
RLC Reedy Lagoon Corp. 19 7 35 138 0.031 $ 14,040,680.32
IXR Ionic Rare Earths 16 26 -9 207 0.043 $ 132,303,581.05
AAJ Aruma Resources 16 9 33 -15 0.096 $ 10,706,727.76
NTU Northern Min 15 23 29 47 0.053 $ 242,375,398.30
SRL Sunrise 13 21 -6 -26 2.04 $ 177,414,021.63
MNS Magnis Energy Tech 13 24 10 108 0.385 $ 357,832,300.21
LPI Lithium Pwr Int 13 56 59 121 0.43 $ 153,458,733.12
COB Cobalt Blue 12 36 13 295 0.435 $ 122,383,707.27
LEL Lithenergy 11 23     0.69 $ 30,150,000.00
LIT Lithium Australia NL 10 6 6 160 0.1325 $ 124,888,951.75
ARN Aldoro Resources 10 2 26 344 0.44 $ 37,133,707.38
INR Ioneer 9 11 99 256 0.695 $ 1,313,895,861.69
JRV Jervois Global 8 17 42 112 0.6075 $ 901,491,557.89
AUZ Australian Mines 8 13 18 77 0.026 $ 107,588,977.85
BRB Breaker Res NL 8 25 38 57 0.33 $ 105,898,301.93
NIC Nickel Mines Limited 8 9 -15 9 1.065 $ 2,653,355,648.81
LTR Liontown Resources 8 30 355 595 1.695 $ 3,210,779,681.76
IGO IGO Limited 8 7 41 125 9.78 $ 7,231,907,614.15
CLA Celsius Resource 7 12 -28 -17 0.029 $ 30,369,614.35
TKL Traka Resources 7 15 -12 -35 0.015 $ 9,331,618.41
GME GME Resources 7 7 19 53 0.075 $ 43,955,316.39
ARL Ardea Resources 7 14 0 7 0.525 $ 73,158,136.07
MRD Mount Ridley Mines 7 50 7 150 0.0075 $ 39,246,503.66
JRL Jindalee Resources 7 0 -16 298 2.59 $ 128,226,399.42
TLG Talga Group 7 8 14 61 1.555 $ 460,909,457.12
GL1 Globallith 6 4     0.415 $ 37,369,876.32
RNU Renascor Res 6 -5 47 1225 0.1325 $ 245,247,740.92
ASN Anson Resources 6 0 20 143 0.09 $ 88,448,243.17
QEM QEM Limited 6 24 -23 64 0.18 $ 20,416,199.94
ORE [nxtlink id="268668"]Orocobre Limited[/nxtlink] 6 3 48 238 9.16 $ 5,833,359,111.90
AOU Auroch Minerals 6 9 -5 19 0.185 $ 53,901,539.10
HAS Hastings Tech Met 6 21 54 119 0.285 $ 469,383,100.56
CXO Core Lithium 6 42 125 1050 0.575 $ 969,599,098.13
GW1 Greenwing Resources 5 -3 -16 97 0.295 $ 32,355,260.85
ADD Adavale Resource 5 -9 7 88 0.06 $ 19,231,521.12
SYA Sayona Mining 5 -12 288 1576 0.1625 $ 1,098,609,343.52
DEV Devex Resources 5 6 14 32 0.33 $ 98,506,869.44
LEG Legend Mining 4 12 -39 -44 0.073 $ 206,635,179.08
G88 Golden Mile Res 4 6 -46 -21 0.05 $ 8,892,953.06
BEM Blackearth Minerals 4 -11 -11 136 0.125 $ 26,087,432.04
ILU Iluka Resources 3 4 30 84 9.59 $ 3,990,798,085.06
ESR Estrella Res 3 -8 -29 -75 0.036 $ 41,833,574.64
ATM Aneka Tambang 3 10 10 10 1.1 $ 1,434,013.90
CTM Centaurus Metals 3 13 59 76 1.11 $ 384,976,538.24
LYC Lynas Rare Earths 3 3 34 145 7.13 $ 6,172,495,029.36
VML Vital Metals Limited 3 -1 -1 105 0.0595 $ 245,763,501.96
REE Rarex Limited 3 5 -2 -24 0.1025 $ 44,256,133.99
HXG Hexagon Energy 2 21 -25 69 0.086 $ 37,465,161.47
PAN Panoramic Resources 2 12 52 114 0.235 $ 481,964,790.94
LPD Lepidico 2 6 20 231 0.0265 $ 159,956,743.67
AML Aeon Metals . 2 0 -35 -55 0.056 $ 47,410,992.26
RFR Rafaella Resources 1 -12 -28 -37 0.079 $ 14,877,908.60
S2R S2 Resources 1 2 -43 -67 0.089 $ 31,717,362.10
OZL OZ Minerals 1 13 4 58 25.29 $ 8,324,691,576.35
CHN Chalice Mining 1 -2 4 135 6.9 $ 2,424,685,296.60
PLS Pilbara Min 0 -3 87 454 2.09 $ 6,205,808,124.56
MLS Metals Australia 0 0 -33 0 0.002 $ 10,477,114.72
SLZ Sultan Resources 0 6 -5 -33 0.18 $ 12,516,190.02
TON Triton Min 0 -3 -26 -36 0.032 $ 36,302,978.14
WKT Walkabout Resources 0 0 -43 11 0.195 $ 82,954,311.77
MRC Mineral Commodities 0 3 -36 -55 0.15 $ 77,573,641.93
AJM Altura Mining 0 0 0 0 0.07 $ 238,056,602.28
LML Lincoln Minerals 0 0 0 0 0.008 $ 4,599,869.49
AQD Ausquest Limited 0 -6 -15 -39 0.017 $ 13,994,227.13
MMC Mitremining 0       0.225 $ 5,958,722.00
ALY Alchemy Resource 0 -5 -17 -42 0.013 $ 10,923,956.10
TMT Technology Metals 0 -8 6 9 0.37 $ 71,816,002.34
SYR Syrah Resources 0 -3 1 135 1.115 $ 558,582,889.76
CWX Carawine Resources 0 5 -22 -41 0.2 $ 23,411,328.93
VRC Volt Resources 0 0 55 182 0.031 $ 84,728,868.96
BKT Black Rock Mining 0 17 50 289 0.21 $ 183,003,319.24
FGR First Graphene 0 17 -25 31 0.21 $ 121,026,616.92
HNR Hannans 0 19 391 391 0.034 $ 77,879,247.34
NWC New World Resources 0 11 -21 61 0.079 $ 126,920,495.68
AZS Azure Minerals 0 4 13 -14 0.36 $ 113,053,538.17
VIA Viagold Rare Earth 0 852 2339 10426 2 $ 166,624,808.00
MIN Mineral Resources. 0 -7 -4 72 43.21 $ 7,436,921,309.18
STK Strickland Metals -1 81 335 -22 0.087 $ 96,212,112.39
PEK Peak Resources -1 -6 -12 129 0.08 $ 155,053,661.96
VR8 Vanadium Resources -1 22 55 204 0.079 $ 37,013,989.92
EGR Ecograf Limited -2 -12 6 274 0.635 $ 285,707,746.47
PRL Province Resources -2 9 -23 1089 0.1575 $ 175,097,270.71
SRI Sipa Resources -2 -15 -18 -33 0.056 $ 11,229,754.09
MCR Mincor Resources NL -2 7 42 38 1.375 $ 653,823,670.50
POS Poseidon Nick -2 3 68 18 0.1025 $ 321,715,750.23
BHP BHP Group -2 -2 -20 4 37.93 $ 111,076,964,984.10
RBX Resource Base -3 -7 459 459 0.19 $ 7,590,041.15
RXL Rox Resources -3 0 -32 -56 0.38 $ 60,678,931.39
PGM Platina Resources -3 13 31 42 0.071 $ 32,144,293.31
PUR Pursuit Minerals -3 -29 -55 150 0.035 $ 31,858,473.14
PSC Prospect Res -3 6 178 271 0.445 $ 168,750,355.40
ARU Arafura Resource -3 45 21 107 0.2175 $ 333,238,676.38
HYM Hyperion Metals -3 -14 3 205 0.99 $ 139,112,491.00
GED Golden Deeps -4 14 -4 -22 0.0125 $ 9,310,217.28
GAL Galileo Mining -4 -11 -14 4 0.24 $ 42,025,301.25
AVL Aust Vanadium -4 9 4 100 0.024 $ 78,739,811.54
SGQ St George Min -4 3 -21 -47 0.071 $ 42,421,747.46
BMM Balkanminingandmin -4 -4     0.68 $ 23,075,000.00
FFX Firefinch -4 -6 78 199 0.5975 $ 601,926,599.30
MOH Moho Resources -5 -3 -25 -50 0.058 $ 6,506,350.33
PLL Piedmont Lithium -5 17 -4 104 0.805 $ 438,791,187.00
AXE Archer Materials -6 -28 76 199 1.51 $ 368,447,115.96
ESS Essential Metals -6 -8 106 110 0.1975 $ 43,959,695.19
FRS Forrestania Resources -6       0.38 $ 10,378,500.00
IPT Impact Minerals -7 -18 -22 -36 0.014 $ 30,356,923.79
NKL Nickelx -7 -37     0.135 $ 7,490,000.00
NMT Neometals -7 0 84 373 0.875 $ 474,345,582.54
EMH European Metals Hldg -7 -8 -4 198 1.34 $ 171,721,393.80
MLX Metals X -8 8 69 354 0.3725 $ 335,688,444.79
VMC Venus Metals -8 6 -9 -36 0.17 $ 25,683,376.11
ADV Ardiden -8 -15 -31 -73 0.011 $ 23,686,688.92
NVA Nova Minerals -9 7 3 -18 0.155 $ 277,455,821.34
CHR Charger Metals -9 -25     0.41 $ 13,132,724.35
SBR Sabre Resources -9 0 -17 -44 0.005 $ 8,446,568.25
CNJ Conico -10 -34 31 90 0.038 $ 38,008,165.21
QPM Queensland Pacific -10 -2 147 503 0.235 $ 325,347,151.44
CZN Corazon -10 0 0 -54 0.037 $ 10,152,702.68
MAN Mandrake Resources -10 14 -61 7 0.064 $ 31,511,737.62
RMX Red Mountain Mining -10 -10 -18 -40 0.009 $ 13,180,124.72
GBR Great Boulder Resources -10 20 400 144 0.18 $ 69,660,982.76
A8G Australasian Gold -10 66     0.58 $ 27,027,640.86
BAR Barra Resources -11 0 32 -26 0.025 $ 20,569,575.34
AVZ AVZ Minerals -11 16 73 268 0.32 $ 1,045,906,121.00
AR3 Australian Rare Earths -13 -19     0.8 $ 36,274,494.87

 

 

Weekly Small Cap Standouts

ARIZONA LITHIUM (ASX:AZL)

The recently rebranded lithium play is now up 94% over the past five days on no news.

AZL recently completed the spin-out of its gold and copper assets to Diablo Resources (ASX:DBO) to focus on its ‘Big Sandy’ lithium project in the US.

In response to a recent price query from the ASX, AZL also noted that lithium carbonate prices in China are trading at record highs in October.

The $163m market cap stock has gained an impressive ~850% year-to-date.

 

 

QX RESOURCES (ASX:QXR)

Gold focused QX has officially acquired a lithium project in the Pilbara, the hard rock capital of the world.

The explorer exercised an option to buy the ‘Turner River’ lithium project early, in advance of the due diligence period lapsing.

This reflects QXR’s confidence in the project’s prospectivity, QXR says.

It will also acquire the adjoining tenements for an extra $6000, which brings the total tenement position at Turner River from 45sqkm to 84sqkm.

“Following the recent site visit and after further reviews of the project’s geology and the surrounding prospects, we have taken the decision to not only exercise the Turner River option early but to expand our tenement holdings in the area by applying for some adjoining ground which looks equally as prospective,” QXR chairman Maurice Feilich says.

That recent site visit identified contained “numerous pegmatite dykes”. Encouraging start.

“Further site visits are planned, and we look forward to keeping shareholders updated on progress here and with respect to the ongoing work in Queensland,” Feilich says.

 

The post High Voltage: Tesla ditches nickel and cobalt, spotlight on Pilbara Minerals’ third spodumene auction appeared first on Stockhead.

[nxtlink id="268668"]orocobre limited[/nxtlink]

Author: Reuben Adams

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EU Could Run Out Magnesium by November End Forcing an Aluminum Alloy Supply Crisis

Countries from the Western Hemisphere to the Eastern hemisphere are now focusing on economic recoveries from the pandemic. That means spending is up, manufacturing…

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European Union flags in front of the Berlaymont building (European Commission) in Brussels, Belgium.

Countries from the Western Hemisphere to the Eastern hemisphere are now focusing on economic recoveries from the pandemic. That means spending is up, manufacturing is up, and industry is refiring. 

But some European leaders worry about a shortage of magnesium and what kind of effects that might have on an industrial recovery from the pandemic. The European Union gets 95% of its magnesium from China, and so talks have opened between the EU and China to ensure the supply of the silvery-white metal used to make aluminum. 

One of the challenges facing Chinese magnesium smelters is the electricity shortages sweeping the nation. The power cuts due to challenges generating sufficient energy from current power sources mean that China has ordered some smelters to close.

Factories have had to be powered down, and rationing is in effect in many regions as the country tries to manage its electricity supply. The talks are of particular importance since China has ordered approximately 35 out of 50 magnesium smelters to close until the end of the year. The reason was to conserve electricity, but the effect has been a supply shift that has EU leaders worried. 

A Fast-Approaching Deadline

Germany’s association of metals producers, WVM, warned that the current European inventories will be exhausted by the end of November – a fast-approaching deadline. The price of magnesium has spiked in recent months as uncertainty surrounding a supply dearth creates chaos in the markets. 

It is also difficult to store, and this has been a worrying point of contention as well. It begins to oxidize after three months, and global stocks could run critically low before the end of 2021 if China does not restart production soon. 

Magnesium is used to make aluminum, which has become a critical metal for the industrial sector, especially for the auto industry. Aluminum alloys are used in auto parts that include gearboxes, steering columns, fuel tank covers, and seat frames. Its lightweight nature means it can be formed into the necessary shapes while maintaining strength and lightness. 

As a result of aluminum used in cars, fuel efficiency has skyrocketed in the past decade. The lighter, more efficient cars are also cheaper to produce thanks to affordable aluminum. However, with the price of magnesium up from approximately $2000 per tonne at the beginning of the year to approximately $4700 per tonne now, the certainty that affordable aluminum can continue to be made is in doubt as well. Industry groups have said that the remaining stocks in Europe are selling for $10,000-$14,000 per tonne in Europe.

The issue was raised on Thursday during an EU leaders’ summit, and a dialogue was opened with China by the European Commission. 

On the other side of the world, North American is having its own issues with magnesium. Canada’s Matalco Inc. produces aluminum billet. Last week it had to tell clients that magnesium availability had “dried up” and if it continued then the company may have to cut output. Additionally, it may need to ration deliveries beginning in 2022 to ensure that some are prioritized and every client gets the minimum needed.

Magnesium as a Critical Metal

Magnesium is a light metal used as an alloy for hardening aluminum used in beverage cans and light car parts. The most commonly used magnesium castings do not contain more than 90 mg of alloyed aluminum. Magnesium compounds are used for various purposes.

Magnesium castings are used in the automotive industry, aerospace components, defense applications, and consumer goods (especially laptops, tablets, and mobile phones covers). Aluminum alloys contain an average of 0.8% magnesium and are used in a wide variety of industries with packaging (35% of magnesium used in aluminum alloys), transport (25%), and construction (21%) being the three most important.    

China has a quasi-monopoly on the production of magnesium, which is a key component of the production of aluminum alloys. About 95% of the world’s magnesium production comes from China, most of it from the city of Yulin in Shaanxi Province. Worldwide production of magnesite (Sitmate) is 596 Mt, of which China is the largest producer.    

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

The post Dangerous Magnesium Crisis Bears Down On EU appeared first on MiningFeeds.

Author: Matthew Evanoff

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