Tyb
Disclose.tv / @disclosetv
09/07/2022 05:28:59
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JUST IN -40 CEOs of European metal groups warn of an "existential threat" to the industry in an open letter.
https://eurometaux.eu/media/qnhn5k30/non-ferrous-metals-ceo-letter-on-energy-crisis-06-09-2022.pdf https://t.co/hoTVB80LJy
https://qagg.news/?read=O85078
==RE: Europe’s non-ferrous metals producers call for emergency EU action to prevent permanent
deindustrialisation from spiralling electricity and gas prices==
Dear Ms President Von der Leyen, dear Ms President Metsola, dear Mr President Michel,
Ahead of Friday’s emergency summit, the business leaders of Europe’s non-ferrous metals industry are writing together
to raise the alarm about Europe’s worsening energy crisis and its existential threat to our future. Our sector has already
been forced to make unprecedented curtailments in the last 12 months. We are deeply concerned that the winter ahead
could deliver a decisive blow to many of our operations, and we call on EU and Member State leaders to take emergency
action to preserve their strategic electricity-intensive industries and prevent permanent job losses.
50% of the EU’s aluminium and zinc capacity has already been forced offline due to the power crisis, as well as
significant curtailments in silicon and ferroalloys production and further impacts felt across copper and nickel sectors. In
the last month, several companies have had to announce indefinite closures and many more are on the brink ahead of
a life-or-death winter for many operations. Producers face electricity and gas costs over ten times higher than last year,
far exceeding the sales price for their products. We know from experience that once a plant is closed it very often
becomes a permanent situation, as re-opening implies significant uncertainty and cost.
https://eurometaux.eu/media/qnhn5k30/non-ferrous-metals-ceo-letter-on-energy-crisis-06-09-2022.pdf
Annex 1: Full list of measures addressing high energy prices
Annex 2: Updated list of closures and curtailments in the
Non-Ferrous Metals Sector since September 2021
In the meantime, massive capacity additions are taking place outside Europe with a far higher carbon footprint:
Brazil Alcoa to restart Alumar aluminium smelter in a joint venture with Australian miner South32 Ltd.
Hydro to add capacity in its Albras smelter.
Argentina Aluar aluminium smelter to ramp-up to full capacity after a deal on power supply was reached with the country’s
government.
Australia Alcoa to restart 35 thousand metric tons of capacity at Portland Aluminium.
Russia Rusal launched production at its long-stalled Taishet aluminium smelter in Siberia.
Iran Increases in aluminium production by 118k ton y/y and another 100k ton on the way.
India Vedanta increases production by 316k ton, another 414k ton on the way.
Indonesia Adaro Aluminum: new 2m ton of production in Indonesia, new aluminum smelter in North Kalimantan.
Huaqing Aluminum: new thermal-powered primary aluminum smelter with capacity of 2 mton. If completed
as designed, the mega smelter will produce 2x what Europe curtailed because of the current energy crisis.
China Primary aluminum production run-rate set to expand by 2 mton in 2022.
US Century aluminium restart at Mt Holly smelter. The company has been making significant capital investment
at the smelter, aimed at boosting its production capacity and creating additional well-paid jobs in the region
Seems as though those assholes have shown they back the cabal and are all in agreement.
Fucking EVIL.