Member Info for pb940

https://www.bloomberg.com/news/articles/2019-04-25/glencore-faces-new-corruption-investigation-as-cftc-starts-probe

Glencore Plc is under investigation by the U.S. Commodity Futures Trading Commission for possible corrupt practices, the latest legal headache for the world’s biggest commodity trader.

It’s another sign that the industry is coming under intense scrutiny by authorities for business practices in resource-rich countries around the world. There are now a multitude of bribery and corruption investigations in jurisdictions ranging from Brazil to the U.S., drawing comparisons with the early 1980s when Glencore’s founder Marc Rich was prosecuted for tax evasion.

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James McDonald, the director of enforcement at the CFTC, said last month in a speech that the agency was investigating overseas fraud and manipulation under the Commodity Exchange Act. While he didn’t refer to any specific investigation, he gave several examples of types of behavior the regulator was looking into, including:

Paying bribes to secure business in connection with activities like trading, advising, or dealing in derivatives.

Using corrupt practices to manipulate benchmarks that serve as the basis for derivatives contracts.

Richken, I don't suppose you could contact Chika and ask if the Vametco Q1 update will arrive soon as you seem to have more luck getting a response than I do?

https://www.vanadiumprice.com/chinese-vanadium-pentoxide-powder-prices-increase-2/

29 Apr 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min are RMB164,000-167,000/t (USD11.3-11.5/lb V) EXW D/P at present, up by RMB3,000/t (USD0.2/lb V) from last week. As the environmental protection policy is strictly enforced in main production area, the supply of vanadium pentoxide powder reduces. Insiders believe prices of this material would stay firm in the coming week.

A producer in South China quotes for their vanadium pentoxide powder 98%min at RMB170,000/t (USD11.7/lb V) EXW D/P and can sell at RMB167,000/t (USD11.5/lb V) for firm bids at the moment, up by RMB2,000/t (USD0.1/lb V) from last week. “I just sold 10t of this material at RMB165,000/t (USD11.4/lb V) late last week. As the environmental protection policy is strictly enforced in our local area, we can’t accept too much orders. We quote at RMB170,000/t (USD11.7/lb V) for small orders and RMB167,000/t (USD11.5/lb V) for bulk orders at the moment,” said the source. He believes prices of this material would keep firm in the coming week.

With an annual production capacity of 960t for vanadium pentoxide powder, the producer produced 60t in March and expects the same volume in April, holding no stock now.

Another producer in South China claims at RMB168,000/t (USD11.6/lb V) and can accept RMB167,000/t (USD11.5/lb V) for firm bids for their vanadium pentoxide powder 98%min at the moment, up by RMB3,000/t (USD0.2/lb V) from last week. “We sold out all 15t of stock at RMB164,000/t (USD11.3/lb V) late last week. We are limited to produce as environmental protection policy. We need at least 10 days to produce and deliver for new orders,” said the source. He believes prices of this material would keep firm in the coming week.

With an annual production capacity of 840t for vanadium pentoxide powder, the producer produced 50t in March and expects the same volume in April, holding no stock at the moment.

https://www.google.co.uk/amp/s/www.thesouthafrican.com/elections-2019-latest-voter-poll-april-2019/amp/ The latest polls show the ANC are losing % but they are at 56.9% and the closest challenger being on 15% is going to take something incredible to unseat them. Bearing in mind how useless polls have proven to be obviously.

Also the following;

Ferro Vanadium 80% FOB (China) US$52.0/kg vs US$51.5/kg

https://www.v o x markets.co.uk/articles/broker-research-6406ef6

Explosive lithium-ion storage has heads turning for safer vanadium technologies

Building on 21 fires already occurred across battery projects in South Korea, a major lithium-ion fire and exploration erupted at a facility owned by a Pinnacle West Capital Corp. utility in Surprise, Arizona – marking the first time in America since battery storage technology expanded.

The fire only serves the highlight the stability of nascent technology, potentially disrupting short-term adoption and offers market opportunities as other technologies mature and costs fall.

The electrolyte consumed today are flammable in the presence of oxygen. While sealed from external sources, some cathodes can release oxygen within the cell under high temperatures.

Safety concerns are arising at an inopportune time for the fledgling industry, with falling costs finally competing against conventional power plants.

Pinnacle West’s Arizona Public Service alone targeted 850MW storage by 2025, however with enough storage to supply 600,000 homes, the system has been shut down and investigated. The system was installed by Fluence, a joint venture of AES Corp. and Siemens.

While the cause remains unclear, in Korea, defective battery models, external shock during construction and faulty battery-management systems have contributed to recent fires.

As adoption rises, lithium-ion fires are recognised in mainstream media as a growing concern, with Tesla under scrutiny following another sedan fire in China.

Safety issues are becoming a selling point for rivals of lithium-ion, with CEO of Primus Power Corp, Tom Stepien, noting Li-ion’s “inherent fire risks” following the accident.

There is a “wide opening – a pantheon of new technologies that are aiming to beat lithium-ion from both a performance and cost perspective”, said Jeff Chamberlain, CEO of Volta Energy Technologies.

Lithium-ion will be a powerful incumbent to beat. The technology has made up more than 85% of the world’s annual energy-storage deployments since 2016, according to BloombergNEF.

Energy Storage Association CEO Kelly Speakes-Backman identifies “the US energy storage market nearly doubled in 2018 and is expected to double again in 2019”.

This clearly creates a growth opportunity for both lithium-ion and alternative solutions. Flow batteries, including vanadium redox flow batteries under development at Bushveld Energy, offer long-term, scalable energy storage solutions without the flammable risks.

https://www.esi-africa.com/regional-news/southern-africa/s-africa-vre-prevented-stage-5-loadshedding/

How many shares?

If I had £80 million I wouldn't put it anywhere near a share. 1% interest in a savings account will do for me on that :)

https://www.v o x markets.co.uk/articles/broker-research-834de44

Report reveals worsening US air pollution

A new report shows air pollution is getting worse in the US, and the current Environmental Protection Agency’s efforts to weaken emissions regulations on cars and power plants are seen as a major threat to improving the state of affairs.

The American Lung Association released its 20th annual “State of the Air” report, which focuses on the years 2015-2017. In these years, “more cities had high days of ozone and short-term particle pollution compared to 2014-2016.”
Many cities also suffered from increased levels of year-round particle pollution.

The report found that 141m Americans, about 43% of the population, live in counties that have monitored unhealthy ozone and/or particle pollution. While that’s an increase from 2014-2016, it’s still a big improvement from 2012-2014, which saw 166m Americans experience unhealthy pollution.

The association has concerns with the direction of the Environmental Protection Agency under the Trump Administration.

The report identifies a number of “key threats” toward halting the country’s progress toward cleaner air, first being the EPA’s efforts to “dismantle our nation’s best federal plan to limit carbon pollution from power plants, the Clean Power Plan.”

Other threats identified are the EPA’s proposed steps to weaken methane regulations, and the plan to roll back fuel economy standards, which will lead to more pollution from cars and trucks.


San Francisco first US city to intro 100% renewable electricity requirement for commercial buildings

San Francisco has unveiled a plan that would require its largest private commercial buildings to run on 100% renewable electricity, a first in the US.

Mayor London Breed made the announcement on Earth Day, making San Francisco the latest major American city to unveil a plan for reducing emissions from its buildings. New York City approved a similar plan last week.

While New York’s plan requires emission cuts from its largest buildings, San Francisco would specifically require buildings to run on electricity generated by renewables. The city’s requirement is expected to reduce 21% of emissions from commercial buildings by 2030, when the entire city aims to run on 100% renewable electricity.

Almost half of San Francisco’s emissions come from its buildings, and the city says half of those emissions come from commercial buildings.

San Francisco says it has already reduced its greenhouse gas emissions 36% below 1990 levels. Emissions from buildings and transport make up about 90% of the city’s total emissions, according to San Francisco’s Department of the Environment.

You guys know the drill by now, eh, remove the spaces :)

https://www.v o x markets.co.uk/articles/broker-research-834de44

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South Africa – the South African Labour Registrar threatens to deregister the AMCU union

The Registrar of Labour Relations is threatening to deregister the militant AMCU union.

‘The AMCU union has ceased to function in terms of its constitution and is not a genuine trade union as envisaged in the act’

The AMCU union has violated its own rules by not holding a national congress for more than 5 years which means the senior officials have not been elected as they should have been.

This is a victory for the NUM which was formerly run by Cyril Ramaphosa. A number of Gold and platinum mining companies will breathe a major sigh of relief.

This is great news for AngloGold and also for Sibanye Stillwater and its takeover of Lonmin. This is also a good day for South Africa.

https://www.fin24.com/Economy/most-south-africans-want-investment-in-renewables-not-coal-survey-20190425-2

I think the difference being referred to is that we have been held back/shorted/reduced on purpose to allow a cheaper by in than they would have got and it will be allowed to return to a more favourable position once the JSE listing is done.

Personally I would be disgusted if the sp had been manipulated with the needs of the SA investors getting on board. Not surprised just disgusted.

Remove spaces

https://www.v o x markets.co.uk/articles/broker-research-0af1775

Bushveld Minerals (BMN LN) 26.3, Mkt cap £294m - Vanadium prices look up following recent correction

Ferro-vanadium prices are looking up according to latest price data from AsiaMetals on Bloomberg.

The mid-price for ferro-vanadium in China rose to $51.50/kgV yesterday from a low of $48.5/kgV having started the year at $75/kgV.

Failure to enforce Green Shield environmental regulations and new standards on higher vanadium content in steel may have contributed to the punishment of 163 Chinese officials in Shandong province.

China's Ministry of Ecology and Environment said Shandong officials not only failed to meet guidelines on industrial overcapacity, but also deceived central government inspectors and tried to cover up illegal behavior.

The rise in ferro-vanadium prices may help Bushveld Minerals* shares go higher. Bushveld Minerals sets sights on SA power market (Business Day)

I wonder how long after tomorrow it will be before we hear some more on this or will it have to wait until the Q2 update?

https://www.miningweekly.com/article/lemur-invites-epctc-contractors-to-tender-for-imaloto-project-2019-04-12

Aim-listed Bushveld Minerals’ subsidiary Lemur Holdings has put out an invitation for expressions of interest for the engineering, procurement, construction, testing and commissioning (EPCTC) of some parts of the company’s Imaloto power project, in Madagascar.

The company urged interested contractors to provide information demonstrating their relevant experience to undertake the EPCTC of 138 kV, single-circuit transmission lines and substations and associated equipment.

Imaloto is an integrated thermal coal mining and independent power producer project.

Interested parties should have at least 15 years’ relevant experience as an engineering, procurement and construction contractor of transmission lines and substations, with successful delivery of at least five similar assignments and preferably three outside of their country of origin.

Applicants also need to be financially able to carry out the works and arrange for additional funding that is required to support the project, as well as have arrangements with suppliers in place to deliver all aspects of the works.

Contractors are urged to send their final submissions to info@lemurresources.com before April 24.

Obviously posted this as a reminder of how seriously the Chinese will take non compliance of those rebar standards if the officials aren't being honest.

https://www.v o x markets.co.uk/articles/broker-research-c67177e

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China to punish 163 officials in Shandong province for failing to enforce environmental and other restrictions on metal production

China’s environment ministry takes action and reprimands provincial officials in Shandong, the country’s largest aluminium producing hub, for failing to comply with policies to cut coal consumption and curb the growth of highly polluting aluminium output.
Shandong also produces some 78-80mtpa of steel or ~8% of 930mt of total Chinese steel production.
Struggling to find cleaner forms of growth, Shandong had been a key part of China’s efforts to curb pollution. One – Jining – out of seven of the province’s cities set targets to cut smog over winter succeeded.
In a review of the compliance record of eight regions published on Monday, China's Ministry of Ecology and Environment said Shandong officials not only failed to meet guidelines on industrial overcapacity, but also deceived central government inspectors and tried to cover up illegal behaviour.
Shandong was ordered to cap total aluminium production capacity at 4mt in 2017, but the province's "choices" and policy "adaptations" enabled the industry to expand out of control, with total capacity soaring to as much as 12.6mt, the ministry said in a statement.
Particular offending cities are home to China’s two largest private aluminium producers, China Hongqiao Group and Xinfa Group.
Shandong’s provincial government reports 163 officials have been held to account for a range of violations uncovered by central government inspectors. The environmental bureau report officials failed to supervise efforts to cut coal use, allowed land in protected nature reserves to be misused, and enabled “disorderly development” in the chemical sector.
The environmental bureau add it would carry out a one-month pollution “rectification” campaign across the province.

Just want to add my thanks Alfa for yours and the BSA work. Off work on holiday this week so only dipping in every now and then but wanted to add my thanks.