Iceland

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

Mette Frederiksen, the Danish Prime Minister, announced that a parliamentary vote would be held in Denmark on March 24. She was hoping to capitalize on the?surge of support for her defiant?stance towards U.S. pressure on Greenland. Frederiksen'spent the last few months' rallying European leaders to oppose President Donald Trump’s renewed interest in annexed Greenland. This effort has been credited with boosting her popularity following public dissatisfaction about rising living costs and pressures placed on welfare services. "This election will be decisive, because in the next four-years we will have to stand up on our own as Danes and Europeans. Frederiksen

Mining

Century's Iceland Aluminium Smelter will return sooner than expected

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

The price of physical aluminium in the United States is now 68% higher than that on the London Metal Exchange. It is obvious that this is a direct result of President Donald Trump increasing import tariffs in March from 10% to 25 % and then again in June to 50 %. The "all-in price" of aluminum is now above $5,000 per metric tonne, due to the additional $560 that the physical delivery premium in the Midwest U.S. adds to the implied tariff costs. Metals are in short supply across many industries, from construction to packaging and automotive. On paper, the

Mining

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

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

Climate Change

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

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