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Trump EPA aims at repealing vehicle emission regulations after revoking the greenhouse gas endangerment findings
According to the summary of the proposal, the U.S. Environmental Protection Agency (EPA) plans to repeal the greenhouse gas emissions standards for light, medium, and heavy duty vehicles and engines within the next few days, after removing the scientific findings that justified these rules. The agency will likely state in a draft summary of its upcoming proposal that the Clean Air Act doesn't authorize it to impose emissions standards to address concerns about global climate change and that they will rescind their finding that GHG emission from new motor vehicles or engines is harmful to public health and welfare. The report is expected to cast doubt on the scientific evidence used to reach the conclusion. The summary states that "We propose as an alternative to rescinding the Administrator's conclusions because the EPA analyzed the scientific records in a way that was unreasonable and because recent developments have cast serious doubts on the reliability" of the findings. In its landmark Massachusetts v. EPA decision in 2007, the U.S. Supreme Court said that the EPA had authority under the Clean Air Act, to regulate greenhouse gases emissions. The court also required the agency make a scientific determination on whether these emissions endanger the public's health. In 2009, under the former president Barack Obama, the EPA issued a conclusion that emissions from motor vehicles contributed to pollution and endangered public health and welfare. The EPA's findings were upheld by several legal challenges, and they influenced subsequent greenhouse gas regulations. In the summary, it is also stated that the rationale for the repeal of the vehicle standards was that the technology required to reduce emissions could cause greater harm to the public's health and welfare. The administration of former President Joe Biden said that the standards would increase upfront vehicle prices, but save consumers money over time after taking into account lower fuel costs. According to a source who requested anonymity, the agency will announce its proposal in the next few days. The EPA announced that it sent its proposal for reconsidering the endangerment findings to the White House on June 30, for review. The agency announced that the proposal would be made public for public comment and notice once it had been reviewed by all agencies and signed by the administrator. The agency has not commented on the tailpipe regulations. The rescinding all vehicle emissions standards is the latest – and most comprehensive – attempt to end EPA tailpipe regulations that were predicted to reduce greenhouse gas emission by 49% in 2032 compared to 2026 levels. According to EPA statistics, 29% of U.S. emissions are from the transportation industry. To meet the requirement, the EPA predicts that between 35 and 56 percent of all vehicles sold between 2030 and 2032 will be EVs. The Trump administration has adopted a multi-pronged strategy to undo rules that were designed to increase vehicle efficiency, reduce fuel consumption and promote electric vehicles. This includes ending the $7.500 new EV credit and $4,000 for used EVs on September 30. It has also frozen billions in funding to states to support EV charging. According to legislation signed by Donald Trump in early August, automakers will not be fined for failing to meet fuel-efficiency standards dating back to 2022. In 2018, Chrysler's parent company Stellantis, which is owned by Chrysler, paid nearly $400 million in penalties between 2016 and 2019. GM paid $128.2 millions in penalties between 2016 and 2017. In June, Trump approved three congressional resolutions that barred California's mandates for electric vehicle sales and diesel engine regulations. Trump has approved a resolution that will bar California's historic plan to stop the sale of gasoline only vehicles by 2035. This plan was adopted by 11 states, representing one third of the U.S. automobile market. California has filed a lawsuit to reverse the repeal. (Reporting and editing by David Gregorio, Valerie Volcovici, and David Shepardson)
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Kew Gardens in London opens carbon garden to highlight the climate crisis
Kew Gardens in London will unveil a new garden devoted to carbon. The garden will not only highlight the importance of carbon in maintaining life but will also examine the role carbon dioxide plays in the current climate crisis, and how plants are able to combat it. The Carbon Garden, a permanent feature at the Botanical Gardens, will include 6,500 plants and 35 new trees, as well as a central structure inspired by fungi. It was first opened in 1759, and is now a UNESCO World Heritage Site. Richard Wilford, manager of garden design for Royal Botanic Gardens Kew, said, "The garden is intended to demonstrate the importance of carbon while also warning about the harm caused by increased carbon dioxide emissions." The year 2024 has been the hottest ever recorded, with global CO2 emissions from the energy industry reaching a record-high. The area will also feature signs that explain concepts like photosynthesis, a process in which plants convert carbon dioxide into organic material. It will also include a "dry garden" filled with plants such as the lavender, which can withstand heat. The garden was built by Wilford and his team in four years. It includes trees that were chosen for their ability to absorb CO2 and their resistance to future climate projections. Amanda Cooper, a PhD researcher who advised on the garden, suggested that planting more trees of this type would help combat climate change. Cooper stated that "by reestablishing woodlands and stopping deforestation we can hopefully reduce the amount of carbon dioxide being released into the atmosphere." It's still not enough because our factories and cars emit fossil fuel emissions. It's still a good start. (Written by Sachin Ravikumar, edited by Toby Chopra).
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Peru seizes four tons of black-market mercury destined for illegal gold mines
The Peruvian authorities stopped a shipment of four metric tonnes of mercury heading to Bolivia, allegedly for use in illegal gold-mining. This is the latest indication of the growing black market to meet the soaring demand of the precious metal. The container was passed off as crushed rock. However, the customs agency in Peru, SUNAT, said that an analysis revealed it to be laced with toxic mercury. In a press release, SUNAT stated that "we could determine that the mercury was being shipped in its natural form, concealed in shipments of crushed gravel." It was discovered at the Callao Port and it came from Mexico. According to an analysis of previous seizures conducted by the Environmental Investigation Agency, a Washington advocacy non-profit, the seizure is the largest ever recorded in the Amazon region where illegal gold mining has been widespread. According to the EIA, until now, the largest known shipment of gold in the region was about half its size. Gold prices have been soaring in recent months due to global trade uncertainty, which has made gold a particularly attractive investment. Gold prices have risen 28.5% this year, and reached a record-high of $3.500 per troy inch in April. Gold fever has caused deadly clashes in West Africa and Peru. The EIA alerted Peruvian officials to the shipment when it was researching illicit mercury shipments to Bolivia, Colombia, and Peru where miners used mercury to leach out gold from the sediment of the Amazon Riverbanks. The report said that higher mercury prices are driving illegal mercury production, and a spike has been seen in Mexico since the beginning of this year when traffickers paid an all-time high price per kilogram. The EIA released a report on Thursday that stated, "According the traffickers, the gold miners demand for mercury drove the sophisticated operation. It made it profitable." The investigation revealed that 200 tons were smuggled between April 2019 and 2025 from Mexico into Bolivia, Colombia, and Peru, resulting in an estimated $8 billion worth of illegal gold. Officials in Peru did not discuss the role played by the EIA when the contaminated gravel was discovered from Mexico. Reporting by Marco Aquino and Daina Beth Solon in Lima; Additional reporting by Polina Devtt; Editing done by Les Adler
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Sources say that the US is considering limiting authorizations to oil companies in Venezuela
Four sources familiar with the situation said that the U.S. administration of President Donald Trump is in talks with key partners, including Chevron, of Venezuela's PDVSA state-run oil company, to allow them to continue to operate within certain limits, in the sanctioned OPEC nation. The Washington pressure strategy adopted earlier in the year would be radically altered if Chevron and perhaps also PDVSA's European Partners were granted authorizations. In a statement, a senior State Department official stated that they couldn't speak about specific licenses granted to PDVSA partners. However, the U.S. wouldn't allow the government of President Nicolas Maduro to profit from oil sales. Two sources stated that the U.S. may now allow energy companies to pay contractors for oilfields and import necessary items to ensure operational continuity. A spokesperson for the company said that Chevron conducted its global business in compliance with the laws and regulations applicable in its industry, as well as sanctions frameworks set up by the U.S. Government, including Venezuela. These discussions are in response to a prisoner exchange that took place this month. Washington accused the socialist government of Nicolas Maduro's of violating democratic standards. Trump announced in February the cancellation of several energy licenses in Venezuela including Chevron’s and gave a deadline of late May for all transactions to be completed. Two sources said that the U.S. State Department imposed conditions on any modifications to authorizations this time, as it had done in May, when Grenell, a special presidential envoy, tried to extend licenses. This was to ensure no money reaches Maduro’s coffers. The Secretary of State Marco Rubio may decide to change the scope or ban the action at any time. Reporting by Marianna Pararaga and Timothy Gardner in Washington and Matt Spetalnick and Sheila Dang in Houston.
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Canada's First Quantum explores gold prepayment deal with Zambian mines
First Quantum Minerals, a Canadian mining company, is looking at a gold prepayment deal to boost its balance, according to CFO Ryan MacWilliam, who spoke to analysts on Thursday. The company is also exploring other options for raising funds, beyond selling a stake. Last year, the company explored a minority stake sales of its two Zambian mining operations. First Quantum announced on Thursday that while a stake sale was not off the table it would be looking at gold streaming deals for its Kansanshi Mine in Zambia. MacWilliam, speaking on an analyst conference call to discuss the company's quarter results, said: "We have seen record high gold price, which means that the gold prepayment or streaming market has been strong. It is an active market and it gives a variety options from a monetary perspective." A gold stream is a type of financing that a company offers to a miner as a way to finance future production. This is usually done at a fixed price. The shares of First Quantum rose 1% at the Toronto Stock Exchange last week. First Quantum's two mines in Zambia will be crucial assets after its Cobre Panama copper mining shuts down in 2023 due to a dispute between the Panamanian government and the company. The company stated that it is in active discussion with Panamanian officials for a possible resolution. Panama's highest court closed the mine following large protests. After months of negotiation, Panama President Jose Mulino granted the company permission to export copper concentrator from the mine, which was mined prior to the previous government ordering the shutdown. First Quantum has revealed that it spends $15 million a month on maintenance and care of the Cobre Panama Mine. This figure is expected to rise to $17 to $18 millions by the end this year. RBC Capital Markets reports that the company had $745 million of cash at the end the first quarter and $6.2 billion of debt. This compares to $751 millions of cash and $6.65 billion of debt in the same quarter in 2025. (Divyarajagopal, Toronto; editing by Nia William)
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EDF reports 17% decline in first-half profits due to low power prices
EDF, France's nuclear energy company, reported a 17% decline in its core profit for the first half of this year on Thursday. Low European power prices had eroded earnings due to higher nuclear output. The utility reported earnings before interest taxes, depreciation, and amortization (EBITDA) of 15.5 billion euro ($18.24billion) for the six-month period ending June, down from 18.7billion a year ago. The net debt was 50 billion euros at the end last year, a decrease from 54.3 billion euro at the same time. As it prepares for the construction of six new nuclear reactors in the next 15 months, Europe's largest nuclear power producer is impacted by low power prices. Prices continue to fall from the highs reached in 2022 and 203, as a result of a weakening industrial demand and boosted renewable energy production. The prices are now below what France's energy regulator estimates it costs to operate a nuclear power plant. EDF warned that the price declines would cause its EBITDA to fall by up to 9 billion euro this year. The CEO Bernard Fontana said that the company would provide a cost estimation for the new plants before the end of the year. A final investment decision will be made in the second half 2026. EDF said in a press release that the financing costs had been "under control" with the new bond issues worth around 7,4 billion euros, and a decrease in short-term interest rates.
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The EU's deforestation regulations could bankrupt small cocoa producers in Ivory Coast
The small players in the cocoa industry of Ivory Coast fear that they will be forced out of business by the costs of complying with the new European Union regulations regarding the importation of commodities related to deforestation. Companies importing cocoa, coffee, soy and beef must prove that their supply chain does not contribute to deforestation. Otherwise, they will be fined. Ivory Coast, in order to comply with the regulations has chosen a digitalised system for sales and purchases to facilitate verification. Cooperatives and small exporters in the West are worried that they won't be able compete with multinational companies who have more financial and human resources and can handle additional costs and workload. Two sources from the Ivory Coast Coffee and Cocoa Council regulator stated that 900,000 of the 1 million cocoa growers had received their digital cards. These cards will also be used as bank cards. Exporters will pay farmers via mobile money operators after buyers or cooperatives have delivered their beans to port - effectively eliminating the cash payments that are usually made to middlemen. One source said that the card would guarantee 100% traceability for Ivorian Cocoa. Second source: The new system will be implemented and mandatory as of October 1, according to the second source. It was first tested with a small sample of exporters, producers and cooperatives. After complaints from trading partners and criticism by the industry, the EU delayed the implementation of the law for a full year to December 2025. The director of a trading company in Ivory Coast, who is worried about going bankrupt, said: "Compliance to the regulations requires investments that we can't make." According to the president of an export co-op, multinationals plan to spend 200 CFA Francs ($0.3604) for each kilogram in order to comply with these regulations - which is a cost that cooperatives cannot bear. Cocoa players warn that the new rules could kill local exporters or cooperatives if Ivory Coast government does not protect them. "We do not oppose traceability or sustainability. We are not against traceability and sustainability, but we do criticize the fact that the EU protects only its own industries and citizens and does not protect those of other nations. This regulation will kill local business, says the director of an Ivorian Export company. Director of another cocoa co-op: "If we do not get government help, in two years there will be no local exporters or cooperatives left." "We'll all disappear." They did not want to be identified for fear of being threatened or facing pressure. ($1 = 555.000 CFA Francs) (Reporting and writing by Ange Aboua, Editing by Alison Williams).
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Six students die in China mine accident
According to a filing made on Thursday by the Shanghai Stock Exchange, six university students drowned while visiting a copper-molybdenum mine owned by Zhongjin Gold Corp. in northern China. After protective grates collapsed, students from Northeastern University of Shenyang fell in a flotation chamber - mining equipment that uses liquid to extract copper from crushed ore. According to Zhongjin Gold's filing, which is a subsidiary owned by the state-owned China National Gold Group Co., an injured teacher also suffered injuries in the accident. The company reported that it had activated a plan of emergency and notified the local authorities about the incident. In a second filing to the stock exchange later on Thursday, Zhongjin Gold said that the operator of the mine had halted the production. Zhongjin Gold shares closed Thursday down 4.4%. According to Henan Radio and Television's social media page, a teacher at Northeastern University said that such field trips have been organized for years and this incident was unplanned. The teacher claimed that the university sent staff on the scene to deal with the incident. Reporting by Beijing Newsroom; Editing and rewriting by Raju Gopalakrishnan, Joe Bavier
Australia commits $283m to Orica's green hydrogen project, as the industry is hesitant
Australia announced on Friday that it will invest A$432,000,000 ($283.82,000,000) in a project to produce green hydrogen, led by Orica. Orica is the largest explosives manufacturer in the world. The investment supports the industry's growth amid a recent wave of cancelled and delayed projects.
The funding will be used to support the Hunter Valley Hydrogen Hub. This hub aims at decarbonising Orica's nearby explosives and ammonia manufacturing operations, and ultimately supplying green ammonia fuel for export.
The Minister for Climate Change and Energy, Chris Bowen, said that the funding of the project on Australia's east coast would help secure the country's energy future. He also stated that green hydrogen is a key component to the government's net-zero goal.
Bowen stated in a press release that the project would also reduce emissions at Orica's ammonia plant and produce green ammonia to be used domestically by mining, agriculture, and manufacturing sectors.
The green hydrogen industry in Australia is now a step closer to success after a number of delays and withdrawals cast doubts on its viability.
Plans to build a A$12,5 billion CQH2 plant in Queensland, Australia, collapsed on Sunday after the project's lead developer, State-owned energy company Stanwell, ceased its involvement. This was one of Australia's most ambitious and advanced projects.
Orica's Hunter Valley Hydrogen Hub was once a joint-venture with Origin Energy. Last year, the power producer pulled out, citing concerns about costs and the challenges in the green hydrogen industry.
Orica stated that the government's support was "essential", in order to bridge the "commercial gap" of the project.
The explosives manufacturer added that in recent months, it has received a lot of interest from potential partners and will work to reach a final decision on investment "in due time".
Sanjeev gandhi, CEO of Orica said: "We are committed to helping our customers achieve their decarbonisation goals through low-carbon products and supporting Orica in its next phase of decarbonisation."
The hub's first phase is expected to produce 12 tonnes of green hydrogen per day, using a 50-megawatt electrolyser powered with renewable energy. (1 Australian dollar = 1.5221 dollars) (Reporting and editing by Kate Mayberry in Sydney)
(source: Reuters)