Latest News
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Anson, Australia's lithium supplier, signs MoU with Nusano in the US for nuclear use
Anson Resources, based in Australia, announced on Monday that it had signed a nonbinding Memorandum of Understanding with Utah-based Nusano for the supply of lithium chloride to be used in advanced manufacturing and nuclear applications. Anson will provide samples of lithium chloride from its Green River Project in Utah to be tested for qualification. Talks are aimed at an agreement covering a five-year period and at least 300 tonnes equivalent lithium carbonate per year. Nusano is a privately-held company that plans to use Anson’s lithium chloride feedstock in order to produce lithium-6, lithium-7, and other isotopes for the nuclear sector using proprietary separation technology. Bruce Richardson, CEO of the company, said that the company is still in talks with other partners to supply electric vehicles, which is its main focus. He added that diversification into nuclear industry was "an important strategic move." Late November saw the spodumene price of lithium raw material surge to its highest level since June 2024, recovering nearly half from June’s four-year highs. However, it is still far away from late-2022 peak prices above $6,000. In September, the company had Sign up for our Newsletter A similar agreement was reached with LG Energy Solution of South Korea for the supply battery-grade lithium from its Paradox Basin Project. (Reporting and editing by Edmund Klamann in Bengaluru, and Diane Craft.)
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Official: India does not plan to increase coal power beyond 2035.
A top official in the power ministry said that India has no immediate plans to increase coal power generation beyond 2035. Pankaj Agarwal told an audience at a power ministry function that India wants to meet its energy needs. "By 2035, our goal is to have coal capacity of 307 Gigawatts." He said that it was "premature" to predict what the future holds beyond 2035. India proposed this year to increase its coal power by 46%, from its current 210 GW. It also doubled its non-fossil energy capacity of 500 GW. Agarwal stated that the coal power plans were in line with India's energy needs. India has reduced power production for the majority of this year due to grid challenges caused by the integration surplus clean energy in the grid. Agarwal said that the country could decide to add more coal capacity once it has studied the power demand growth and the rate of integration of renewable energy into the grid for three years. He said that India should evaluate grid challenges as well as the costs of storing clean energy in batteries before adding additional coal capacity after 2035. The annual decline in India's coal-fired electricity generation, which accounts for 75% of its output, was the highest since 2020, as the mild weather decreased cooling demand. Even so, some Indian utilities have signed long-term contracts to purchase coal-fired generators in order to meet the projected increase in evening demand. Reporting by Sethuraman NR from Delhi and Jayshree Upadhyay from Mumbai; editing by William Mallard
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Israeli soldiers kill a 55-year old Palestinian and teen in West Bank
According to an Israeli official, Israeli soldiers killed a Palestinian teen who was driving his car toward them and a Palestinian passerby in the West Bank Saturday. The military claimed that a "non-involved" person was also hit, in addition to a driver who "accelerated" his car towards soldiers at a Hebron checkpoint. The military initially claimed that two "terrorists", who were shot by soldiers, had been killed, but later clarified that it was only one. Unidentified Israeli security officials said that a 17-year old was driving and a 55 year-old bystander. The Palestinian news agency WAFA said that Ziad Nim Abu Dawood (55), a 55-year old municipal street cleaner who was working, died while doing his job. The report said that another Palestinian had been killed, but it did not mention the circumstances which led the soldiers open fire. The Palestinian Ministry of Health identified the second Palestinian, Ahmed Khalil Al-Rajabi, as a 17-year-old. The military has not reported any injuries among the soldiers. No militant group has claimed responsibility for the actions of this 17-year old. This year, violence has increased in the Israeli-occupied West Bank. Israeli settler violence against Palestinians has increased sharply. The military has also tightened restrictions on movement and conducted sweeping raids across several cities. According to the Palestinian Health Ministry, Israeli forces have killed 51 Palestinian minors under 18 years of age in the West Bank since January. Palestinians have also attacked Israeli soldiers and civilians in some cases resulting in fatalities. Reporting by Ali Sawafta and Alexander Cornwell, both in Ramallah; editing by Christina Fincher
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Israeli soldiers kill a 55-year old Palestinian and teen in West Bank
According to a senior Israeli security official, Israeli soldiers killed in the West Bank a Palestinian teenager driving a vehicle towards them and a Palestinian passerby. The military claimed that a "non-involved" person was also hit, in addition to the driver who "accelerated" his car towards soldiers at a Hebron checkpoint. The military initially claimed that two "terrorists", but later clarified that it was only one individual. Unidentified Israeli security officials said that a 17-year old was driving and a 55 year-old bystander. The Palestinian news agency WAFA said that Ziad Nim Abu Dawood (55), a 55-year old municipal street cleaner who was working, died while doing his job. The report said that another Palestinian had been killed, but it did not mention the circumstances which led the soldiers open fire. The Palestinian Ministry of Health identified the second Palestinian, Ahmed Khalil Al-Rajabi, as a 17-year-old. The military has not reported any injuries among the soldiers. No militant group has claimed responsibility for the actions of this 17-year old. According to the Palestinian Health Ministry, Israeli forces have killed 51 Palestinian minors under 18 years of age in the West Bank since January. This year, violence has increased in the Israeli-occupied West Bank. Israeli settler violence against Palestinians has increased sharply. The military has also tightened restrictions on movement and conducted sweeping raids across several cities. Palestinians have also attacked Israeli soldiers and civilians in some cases resulting in fatalities. Reporting by Ali Sawafta and Alexander Cornwell, both in Ramallah; editing by Christina Fincher
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US envoy Kellogg claims that a peace agreement with Ukraine is very close
The outgoing U.S. President Donald Trump’s Ukraine envoy stated that a deal for the end of the Ukraine war is "really close". It now depends on the resolution of two major outstanding issues: the future in Ukraine's Donbass region and the Zaporizhzhia Nuclear Power Plant. After eight years of fighting in the Donbas region, which includes the Donetsk-Luhansk region, between separatists backed by Russia and Ukrainian troops, Russia invaded Ukraine on February 20, 2022. The Ukraine War is the deadliest European Conflict since World War Two. It has also triggered the largest confrontation between Russia and Western since the Cold War. U.S. Special Representative for Ukraine Keith Kellogg told the Reagan National Defense Forum, that the last 10 meters of the conflict are the most difficult. Kellogg stated that the two most important issues were the territory, namely the future Donbas, and the future Zaporizhzhia Nuclear Power Plant, Europe's biggest, which is currently under Russian control. Kellogg, speaking on Saturday in Simi Valley at the Ronald Reagan Presidential Library & Museum, said: "If those two issues are resolved, I believe the rest of things will go well." "We're nearly there." Kellogg said, "We are really, really close." Kellogg, retired lieutenant-general who served in Vietnam and Iraq and Panama, described the Ukraine conflict as "horrible" and unprecedented for a war in a region. Kellogg stated that Russia and Ukraine together have suffered over 2 million casualties including dead and injured since the beginning of the war. Russia and Ukraine do not provide credible estimates of losses. Moscow claims that Western and Ukrainian estimates exaggerate its losses. Kyiv claims that Moscow inflates Ukrainian losses estimates. Russia controls 19.2% Ukraine. This includes Crimea (which it annexed last year), all of Luhansk and Donetsk. It also controls more than 80% Kherson, Zaporizhzhia and about 75% Kherson. There are also slivers in Kharkiv Sumy Mykolaiv Dnipropetrovsk. Last month, a leaked set 28 U.S. peace proposals was revealed. This alarmingly bowed down to Moscow's demands, including Russian control over a fifth part of Ukraine, and restrictions on Ukraine’s army. According to the Kremlin, these proposals, of which Russia says they now contain 27 points have been divided into four components. It is not known what the exact content of these proposals are. According to the initial U.S. proposal, the Zaporizhzhia Nuclear Plant, whose reactors currently are in cold shutdown would be relaunched, under the supervision and control of the International Atomic Energy Agency. The electricity produced would then be shared equally between Russia, Ukraine, and other countries. The Ukrainian president Volodymyr Zelenskiy stated on Saturday that they had a "substantive and long" telephone call with Steve Witkoff, Trump's Special Envoy and Jared Kushner, Trump's Son-in-law. The Kremlin stated on Friday that it expects Kushner will be the one to do most of the work in drafting any possible deal. (Reporting and editing by Elaine Hardcastle in Moscow, with Guy Faulconbridge reporting from Moscow)
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Guggenheim Asset Management plans Saudi Arabian presence as part Gulf Investment Push
Guggenheim Investments in the United States, which has assets worth $357 billion and is looking to expand in the Gulf, is considering opening an office in Saudi Arabia. It wants to take advantage of investment opportunities, particularly in infrastructure and transport, as part of this expansion. The firm is based in Dubai, which is the financial and trade capital of the region. It's also pursuing a license in Abu Dhabi, home to the UAE's oil rich capital and sovereign wealth funds that manage around $2 trillion. Anne Walsh, Chief Investment Officer at Guggenheim Partners Investment Management told the Milken Institute Middle East and Africa Summit in Abu Dhabi that she was "very, very optimistic about the region". "I see a lot of opportunity." "I see great opportunities." Walsh replied that Guggenheim is "actively considering" Riyadh. "We are also looking at deploying capital in Saudi Arabia." Not just a simple office, but also actual investments in transportation equipment and infrastructure. This makes sense to us." In November, Saudi Arabian and U.S. officials hailed billions of dollars worth of new investments as well as the growing financial ties that exist between both countries. Gulf States have increased their efforts to diversify away from hydrocarbons in order to achieve sustainable long-term growth. They are investing heavily into non-oil industries such as financial services, tourism and technology. Guggenheim Investments, earlier this year, became a partner in the Future Investment Initiative Institute. This institute organizes Riyadh’s annual investment conference.
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Australia lowers wildfire alerts for New South Wales
The Australian authorities downgraded the alert level for wildfires on Sunday that destroyed infrastructure and homes in Australia's most populous State, burning through thousands of acres of bushland. On Sunday night, more than 60 wildfires were burning throughout New South Wales, just a day after they had destroyed 12 homes on the Central Coast Region of the state, located about 45 km (about 30 miles) north-east of Sydney, the capital and largest city in Australia. More than 350,000 people live in the region. Rural Fire Service of the state said that fires did not pose an immediate threat to residents. The alerts have been downgraded to the "advice level", which is the second lowest danger rating. Speaking on Australian Broadcasting Corporation TV on Sunday, Prime Minister Anthony Albanese said that it was fortunate that no lives had been lost during the emergency. Albanese stated that "this summer is going to be difficult, as it has been in the past." After several seasons of relative calm, authorities have warned that Australia is in for a bushfire season with high risk. Extreme heat will be forecast across large areas of the country. In a joint statement, the federal and New South Wales Labor Governments said that disaster assistance had been activated in six states regions affected by Saturday's fires which caused extreme heat. Initial assessments show that a number homes were destroyed, with extensive damage done to private property, critical assets, fencing, agricultural assets, and National Parks, according to the statement. It added that the extent of the damage would be clearer once impact assessments are completed. According to the statement, "immediate financial assistance as well as cleaning-up, reconstruction and recovery assistance" was included in the aid. Climate change has increased the risk of wildfires in New South Wales. The "Black Summer" Australian fires in 2019-2020 destroyed an entire area as large as Turkey and killed over 33 people.
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Kremenchuk mayor: Russian strike cuts utilities in the city, resulting in a Russian strike.
Vitalii Maltskyi, the mayor of Kremenchuk in central Ukraine, said that Russian forces had launched a combined airstrike overnight on infrastructure, causing water and power outages. Kremenchuk, located on the Dnipro River in Ukraine, is a major industrial center and home to a large oil refinery. The city was repeatedly targeted by Russian missiles. In 2022, a strike on a busy shopping mall killed at least 21. Maletskyi stated in a post on social media that the details of the strike's consequences would be revealed later Sunday, after damage assessments are completed. He added that city services were working on restoring electricity, water, and heating to districts where supplies had been disrupted. Russia is intensifying long-range attacks on Ukraine's water, power and heating infrastructure in advance of winter. It wants to undermine public morale and disrupt the industry. Previous cold seasons during the war had seen nationwide blackouts. The mayor posted a photo of a nighttime blaze that engulfed what appeared to be industrial buildings. He wrote: "We will restore all." Maletskyi’s report could not be independently verified. Ukraine's Air Force warned on Telegram several times over night that the city is under threat by Russian drone and missile strikes. Reporting by Lidia Kelley in Melbourne, editing by Chizu Nomiyama
Europe turns to ECB after U.S. inflation selloff
Stocks and the euro were constant ahead of an European Central Bank meeting on Thursday, after stubborn U.S. inflation numbers set off the greatest worldwide market selloff in months and left Japan's yen at a new 34year low.
Euro traders were feeling specifically fragile after Wednesday's surprise U.S. CPI figures sent out the dollar on its biggest tear in over a year versus the single currency by quashing hopes of near-term Fed rate cut.
Europe's bourses had actually opened broadly flat in line with MSCI's primary global index, with concentrate on whether ECB chief Christine Lagarde bolsters expectations later on that it will start cutting rates in June, consequently opening up a. major wedge with the Fed.
Bond markets were still reeling, meanwhile, after the. 10-year U.S. Treasury yield - the main motorist of. international borrowing expenses - had shot back above 4.5%, its biggest. daily leap since September 2022.
Germany's 10-year bond yield - the European. criteria - was up fractionally at 2.45%, after increasing 6 bps on. Wednesday although that was a small modification compared to the 18. bps leap experienced by Treasury traders.
The crucial driver now remains U.S. rates, Amundi's Co-Head of. Emerging Markets/Fixed Income Sergei Strigo said, indicating. Treasuries braking up through the 4.5% level once again.
The question is whether we are going to stick to these. levels or are going to go greater.
For ECB watchers, the bank has actually kept rates constant given that. September however has actually already signalled that cuts are entering into. view, with policymakers awaiting a couple of more reassuring wage. indicators before shooting.
The currency bloc is now in its sixth straight quarter of. economic stagnancy and the labour market is starting to soften,. an apparent contrast to the U.S. economy which continues to grow. robustly.
While there are limitations to just how much ECB policy can diverge. from the Fed in time, there is nothing to stop the ECB from. cutting very first or setting its own rate of cuts early on in the. relieving cycle, Deutsche Bank's Jim Reid stated.
He likewise pointed to how markets cut the possibility of. an ECB cut by June back to 82% on Wednesday, down from 91% the. previous day. Similarly at the Bank of England, it fell from 74%. to 56%, for the Bank of Canada it fell from 78% to 53%, and for. the Reserve Bank of Australia it went from 25% to 21%.
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U.S. stock futures were little bit altered after. Wall Street had actually fallen around 1%. Treasuries likewise steadied after. the rise in yields had actually pushed them to their highest levels. given that November.
Overnight in Asia, MSCI's broadest index of Asia-Pacific. shares outside Japan slipped 0.3%, paring some. earlier losses, while Japan's Nikkei dropped 0.5%.
It was the beleaguered yen that was the main focus though,. after the roaring greenback knocked the Japanese. currency to a 34-year low of 153.24 per dollar.
It relieved up somewhat to 152.90 yen as the risk of government. intervention potentially looms big now. Japan's leading currency. diplomat, Masato Kanda, cautioned on Thursday that authorities. would not rule out any actions to respond to disorderly. exchange-rate relocations.
In products, metal rates were resilient in the face of a. strong dollar while oil held gains after advancing more than 1%. following an Israeli strike that killed 3 children of a Hamas. leader, sustaining concerns that ceasefire talks might stall.
Brent increased 0.15% to $90.62 a barrel, and U.S. crude. was 0.1% higher at $86.33 per barrel. Gold costs. gotten 0.3% to $2,338.79 per ounce, charging towards record. highs, after losing 0.8% over night.
(source: Reuters)