Iceland

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

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

Iceland's climate minister said that the government has classified the collapse of an Atlantic Ocean current as a threat to national security and an existential concern, which allows it to plan for worst-case scenarios. Warm water is brought from the tropics to the Arctic by the Atlantic Meridional Overturning Circulation (AMOC). This warm water flow helps keep Europe's cold winters mild. Scientists warn that the flow of the Atlantic Meridional Overturning Circulation (AMOC) could be disrupted by the cold water from Greenland melting the Arctic ice. The collapse of AMOC would trigger a new ice age in which winter temperatures

Crude Oil

Official: Brazil will continue to engage in US trade talks and expand its existing agreements with the US

Iceland volcano erupts with lava and smoke

The volcano that caused the eruption Tuesday was located to the south-west of Iceland's capital. It erupted in a display of orange, red, and lava, causing some evacuations. However, air traffic continued normally. Since 2021, when long-dormant geological system reactivated, Iceland has seen 11 eruptions in the area south of Reykjavik. Icelandic Meteorological Office issued a warning: "An eruption has started." RUV reported that emergency services evacuated residents of Grindavik, a fishing town, and the Blue Lagoon spa nearby in the hours before the eruption, because geologists warned of its imminent arrival. As a result, there has been no disruption

Climate Change

Data shows that only seven countries will meet WHO standards for air quality in 2024.

Data showed that only seven countries met the World Health Organization's (WHO) standards for air quality last year. Researchers warned, however, that the fight against smog will become even more difficult after the United States stops its global monitoring. According to data compiled by Swiss air monitoring firm IQAir, Chad and Bangladesh had the highest average smog levels in 2024. These levels were more than 15-times higher than WHO guidelines. IQAir stated that only Australia, New Zealand and the Bahamas made the cut, as did Barbados, Grenada Grenada, Estonia, and Iceland. There are significant data gaps in Asia and Africa

New Zealand inks 'sustainable' trade handle Switzerland, Costa Rica and Iceland