Iceland

Foreign Minister says that Russia is ready to assist China with energy before Putin's visit.

Russian news agencies reported that Sergei Lavrov, the Foreign Minister of Russia, said on Wednesday in Beijing at a press conference that Russia was'ready to increase its energy supply to China before an expected visit by President Vladimir 'Putin. Vedomosti cited sources who said that it would be during the week of May 18th. President Xi Jinping and Lavrov met on 'Wednesday', assuring Moscow that China is a friend of Russia and saying that China and 'Russia' must work together, trust each other and protect each other's interest. Lavrov said at the press conference that Russia is ready to provide

Mining

Denmark will hold parliamentary elections as Frederiksen Bets on Greenland Crisis Boost

Century's Iceland Aluminium Smelter will return sooner than expected

Century Aluminum, a U.S. aluminum producer, said that repairs will allow the shuttered capacity of its Grundartangi Smelter in Iceland to be restarted by the end April. This is six months earlier than previously expected. Due to an electrical failure, the 320,000 metric ton?per year facility had to reduce production by two thirds at the end of October. This pushed up European Aluminium Premiums to a record high, currently $356 per ton, for the first time in a year. Century announced in November that it would take between 11 and 12 months to manufacture, ship, and install replacement transformers. On

Mining

Andy Home: US aluminium consumers are paying the rising cost of tariffs.

Europe searches for alternatives to Mozal aluminium in the face of its shutdown

Analysts say that a smelter closure in Mozambique will have a negative impact on global aluminum supplies next year. The plant's "core European Union" customers may be forced to look for alternative suppliers. South32 confirmed Tuesday that it would place the Mozal smelter, which has a capacity of 560,000 metric tons per year, on care and maintenance from mid-March. This was after discussions with Mozambique’s government and utilities failed to produce a new deal. Trade Data Monitor figures show that the plant exported almost 430,000 tonnes of aluminium to Europe in the first ten months of 2025. This makes Mozambique

Climate Change

Carbon tax and Iceland's outage threaten to cause panic among EU aluminium buyers

After an outage in Iceland at a major smelter, European importers of aluminium are scrambling to secure supplies before the new carbon tax is implemented. This has pushed premiums up to their highest level in nine months. The European Aluminium Duty-paid Premium, which buyers pay on the physical market over the London Metal Exchange to cover taxes and freight, is currently $324 per ton. On November 3, it reached $330, the highest level since late January. Due to electrical failure, the 320,000-ton per year Grundartangi Smelter, owned by Century Aluminum in Iceland, reduced production by two thirds at the end

Iceland's view of the Atlantic Ocean current collapse as a security and existential risk