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Amman Mineral, an Indonesian copper miner, is one step closer to obtaining export permits
Amman Mineral Internasional, a copper miner in Indonesia, said Saturday that the Indonesian energy ministry had endorsed the export of 480,000 dry metric tonnes of concentrate. The recommendation is valid for six-months from October 31. Amman Mineral requires the support of the Trade Ministry to obtain an export permit. The ministry said that Amman has not yet applied for one. Amman, in a press release, said that the return of copper concentrate exports had allowed it to avoid overloading its storage facilities. It added that this would allow mining to continue. Indonesia has been banning the export of copper concentrates, raw minerals and other raw materials since mid-2023 to encourage domestic processing. Amman, however, was permitted to export up until December 2024. By that date, it was expected to have commissioned a smelter which would process the concentrates into copper casthodes used in making wires, cables, and electronic devices. The smelter temporarily halted operations in July and August of this year due to damage to its flash-converting furnace and sulphuric acids plant units. Amman added that repairs could be completed in the first half 2026. The smelter was already partially operational. (Reporting and editing by Muralikumar Aantharaman; Bernadette Cristina, Stanley Widianto)
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Japan’s KEPCO Buys Majority Stake in Ireland’s Simply Blue Energy
Japan’s Kansai Electric Power Co. (KEPCO) has signed a share subscription agreement with Ireland’s Simply Blue Group’s offshore wind development arm, Simply Blue Energy OSW (SBE OSW).The strategic investment marks KEPCO’s first investment involving management participation in an offshore wind developer.KEPCO will acquire a majority stake in SBE OSW through its wholly owned subsidiary, KPIC Netherlands BV.Simply Blue Energy OSW is actively engaged in multiple offshore wind projects across Europe and elsewhere and possesses extensive experience and expertise in offshore wind development from the early stages of project formation.With KEPCO’s investment, SBE OSW aims to accelerate the expansion of its offshore wind portfolio. “This investment represents a pivotal moment for us at Simply Blue Energy OSW Ltd. The support from KEPCO provides the strength and resources needed to scale our operations and advance our offshore wind initiatives. Together, we are poised to deliver significant contributions to the clean energy transition,” said Hugh Kelly, Co-Founder and CEO, Simply Blue Group.“We are honored to embark on a partnership with Simply Blue Energy, a developer possessing a pioneering spirit and extensive expertise in the field of offshore wind power. Through this collaboration, we aim to further advance offshore wind development for both companies and contribute to achieving a carbon-neutral society,” added Toru Kuwahara, Executive Vice President, and General Manager of Global EX Division of KEPCO.
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Sources say that two more east Texas refineries have returned to normal operation.
People familiar with the plant's operations said that Motiva Enterprises’ 640,500 barrels per day (bpd), Port Arthur, Texas refinery, along with two other refineries in the east Texas Gulf Coast, were now operating normally following repairs. Sources at both plants say that the Motiva refinery in Louisiana and Valero Energy’s Port Arthur refinery with a capacity of 380,000 bpd suffered multiple malfunctions due to a loss of nitrogen gas. Sources familiar with the operations of the plant said that the TotalEnergies Port Arthur refinery, which produces 238,000 bpd, suffered a boiler failure on October 26. This caused the refinery's steam supply to be cut off. Steam is needed both for the production of electrical power and the refining of crude. Marie Maitre, spokesperson for TotalEnergies, declined to comment on the operations of the refinery. No comment was received from Motiva or Valero's spokespersons. Sources claim that the Motiva refinery restarted its units on October 27, after the nitrogen supply was interrupted. Sources claim that Valero's refinery units restarted Tuesday. Sources said that TotalEnergies units were operating again by mid-week. Sources said that TotalEnergies' disruption occurred just days after the refinery completed a two-month planned overhaul. TotalEnergies started the overhaul of the 35,000 bpd Continuous Catalytic Reformer (CCR) in mid-August. The CCR, three diesel hydrotreaters that have a combined throughput capacity of 84,000 bpd and a naphtha hydratreater with a throughput rate 42,000 bpd along with an sulfur block and the 40,000 bpd ACU-2 CDU with its 51,000 bpd Vacuum Distillation Unit-1 (VDU-1 (VDU), ACU-2 was closed, but ACU-1 CDU continued to operate at 150,000 bpd. CDUs work at atmospheric pressure to break crude oil down into feedstock for other refinery units. The VDUs are also capable of converting crude oil to feedstocks but they operate under vacuum pressure. Reformers add octane boosting components to unfinished gas by converting refining waste. Hydrotreaters are used to remove sulfur from motor oils and feedstocks in order to comply with U.S. Environmental rules. Reporting by Erwin Seba, Editing by Muralikumar Aantharaman and Himani Skar
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As tensions in Venezuela rise, US Senators are seeking answers about the 'anti-drug strategy'
The Republican and Democratic leaders in the U.S. Senate Armed Services Committee stated on Friday that the Trump administration has yet to provide any details about its operations against the drug cartels or their legal basis. Since early September, U.S. airstrikes on suspected drug-trafficking boats in the Caribbean have resulted in the deaths of dozens of people. This has caused tension between Washington DC and Caracas. In a rare instance of bipartisanship on the strikes, Republican senator Roger Wicker and Democrat Jack Reed stated in a joint statement that they had not received the information requested from the administration regarding its strategy to combat drug cartels. Reed of Rhode Island is the top Democrat in the committee that oversees the U.S. Military. Wicker of Mississippi is its chairman. The Trump administration claims that the targeted boats were carrying drugs without proving it or explaining publicly the legal justification of the decision. Donald Trump, the president of the United States, has also ordered an extensive military buildup on the Caribbean. In a letter dated September 23, Wicker and Reed stated that they had requested "Execute Orders", relating to anti-drug trafficking activities. In a second letter dated October 6, Wicker and Reed asked for any written opinions regarding the legal foundation for the anti-drug trafficking operations. The legislators said that they did not receive the requested information before Friday. Kingsley Wilson, Pentagon Press secretary, responded in an email when asked for a comment: "Several of these documents were made available yesterday to the Chairman, Ranking Member, and their respective staffs." The Department also provided its fourth bipartisan update on these operations yesterday to Senate staff. Trump denied that he would consider strikes in Venezuela on Friday, contradicting his own remarks from last week amid increasing expectations that Washington could soon expand its operations relating to drug trafficking. (Reporting and editing by Daniel Wallis, Clarence Fernandez, and Patricia Zengerle)
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Prince William's trip to Brazil leaves the Andrew scandal in the past
Prince William will be in Brazil next week to receive his multi-million dollar environmental prize. He hopes to divert attention from the scandal surrounding his uncle Andrew to the causes of the royal family. William, the British heir, will make his first Latin American visit and will see some of Rio de Janeiro’s most famous sights. The goal is to bring the attention of the public to a number of environmental projects in advance the award ceremony for the Prince's Earthshot Prize. The visit came just days after King Charles stripped Andrew of his princely title and expelled him from his mansion. He also banned his brother from public life in an effort to protect the royal brand against any further damage caused by Andrew's links to Jeffrey Epstein, the late sex offenders. FOCUS IS THE EARTHSHOT PRICE William's three-day visit will be devoted to his main environmental philanthropic cause. This is to find innovative ways to combat climate changes and award five winners with 1 million pounds each ($1.3 million). William will visit Sugarloaf Mountain, the Maracana Soccer Stadium, the Christ The Redeemer Statue and the Copacabana Beach where he will be playing volleyball, according to a Kensington Palace spokesperson. Kate, his wife, is currently in remission following cancer treatment and will not join him. South America is not a common destination for British royals, who prefer to travel to Europe or other foreign lands where they are the head of state. Charles has not been to Brazil, Latin America or South America since 2009. The Earthshot events this year will be held a week prior to the United Nations COP30 Climate Summit, which will also take place in Brazil. The prince will be attending in place of his dad. Earthshot Prize CEO Jason Knauf said that the city was the ideal place to host the biggest and best Earthshot yet. The winners will announced on the 5th of November at a ceremony that will include performances by Australian popstar Kylie Minogue, and Brazilian musician Gilberto Gil. The summit will bring together more than 1,000 world leaders, including global mayors, world-leading scientists and some of the biggest philanthropists. (Reporting and editing by Andrew Heavens; Michael Holden)
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Ukraine condemns attack on vital power substations for nuclear plants
The Ukrainian Foreign Ministry condemned on Friday what they called Russian attacks on critical substations that supply external power to Ukraine's nuclear reactors. A ministry statement released late Friday stated that Russia had carried out "targeted attacks" on these substations. It added that "Deliberate attacks on civilian energy installations which directly affect the safe operations of nuclear facilities bear the hallmarks and are a grave breach of international humanitarian laws." The ministry referred back to a Thursday statement by the U.N. nuclear monitor, the International Atomic Energy Agency. It reported that military activity had "caused damage to critical substations for nuclear safety and security" in Ukraine. IAEA reported that incidents near two nuclear power plants, South Ukraine and Khmelnitskyi, led to each plant losing its external power line. The IAEA added that a third station at Rivne was forced to reduce the power at two of its reactors. The incident did not indicate which party might be behind it. Russia and Ukraine accuse one another of military activities that threaten the safety of Ukraine's four nuclear power plants, especially Zaporizhzhia. In the first weeks of the invasion of Ukraine in February 2022, Russian forces captured the Zaporizhzhia Plant, Europe's biggest with six reactors. In its statement, the IAEA referred to ongoing efforts to connect the second of the two external powerlines to the Zaporizhzhia Plant. This is vital for keeping nuclear fuel cool and preventing meltdowns. The plant does not generate any power right now. The IAEA and the Ukrainian statements were not met with any Russian response. The Zaporizhzhia Plant's external links were unavailable for 30 days between September and October. This forced officials to use emergency diesel generators. Kyiv and Moscow both blamed each other for the outage, and both claimed to have disrupted efforts to fix it. (Reporting and editing by Ron Popeski)
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The Trump Administration announces $100 Million in funding for upgrading coal plants
The U.S. Department of Energy announced on Friday that it will make $100 million available for refurbishing and modernizing existing coal-fired plants. This move is part the Trump administration’s efforts to reverse the decline in coal usage in the United States. Last month, the Energy Department announced that it would invest $625 million in expanding coal-fired power generation. In recent years, the number of coal-fired plants has decreased due to the concerns over the impact of fossil fuels on the environment and public health as well as the competition from natural gas. According to the administration of Donald Trump, coal is a good way to deliver the huge amounts of electricity required by the U.S. for data centers. Chris Wright, U.S. Energy Secretary, said: "The Biden and Obama Administrations targeted America's coal workers and industry for years. This resulted in the closing of reliable power plants, and increased electricity costs." "Thank goodness, President Trump is ending the war on American coal. He's restoring common-sense energy policies that place Americans first. These projects will keep America's coal-fired plants operational and provide the United States with the reliable, affordable energy it needs to power its future and keep the lights on. Environmentalists claim that Trump's efforts to support coal are in direct opposition to the global effort to reduce carbon emission and combat climate changes. The Energy Department announced that the funds will be allocated in three strategic areas, including advanced wastewater management systems, fuel switching systems between coal and gas, and coal-natural-gas co-firing.
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Angola looks to local markets after debt costs consume nearly half of the 2026 budget
Angola will spend nearly half of its budget for 2026 on debt repayments, highlighting how the rising costs of servicing are forcing governments in Africa to depend more on their domestic markets to fund themselves. The draft budget of the finance ministry, released on Friday, showed that 32.9%, or 10.9 trillion Kwanzas ($11.95 Billion), would be used to repay loans, and 13%, which is 4.3 trillion Kwanzas (4.3 trillion dollars) for interest payments. The total debt service will consume about 45.9%. Angola expects to borrow 7.1 trillion kwanzas in 2026 from domestic sources, compared to just 1.7 trillion from external creditors. This reflects a trend of frontier markets relying on domestic funding as foreign currency access is more expensive and risky. The budget deficit in Luanda is estimated to be 2.8% of the gross domestic product (GDP), down from 3.3% in 2025. The second-largest crude oil producer in Sub-Saharan Africa, which is trying to control costs because of volatile oil prices by cutting total expenditures, has announced that it will cut its total spending by 4,7%, to 33 trillion kwanzas. The draft budget is based on a crude price of $61 a barrel. Brent crude futures traded at around $65 last Friday. The economic growth rate is projected to increase to 4,2% by 2026 from just 3% in the year 2025. The government has also expressed concern over the rapid increase in tax waivers and incentives, referred to as "fiscal exemptions", which grew from 184 billion Kwanzas (Kwanzas) in 2018 up to 3 trillion Kwanzas by 2024. The government is concerned about the impact of these exemptions, which are mainly granted to non-oil sector, on Angola's revenue and fiscal stability.
Panama election unlikely to move outlook for First Quantum's copper mine
Prospects are poor for First Quantum Minerals to recuperate its canceled concession for a financially rewarding copper mine after governmental elections in May, a. evaluation of the campaigns' proposals and interviews with. protest leaders reveal.
Demonstrations versus First Quantum's concession requiring. greater ecological warranties and transparency in. negotiations made authorities not just annul its agreement to. operate among the world's biggest and latest copper mines but. restriction all new metal mining allows last year.
Metal traders and financiers are closely seeing the. election outcome to see if a brand-new president might help revive. mining in Panama.
Eight prospects are set to appear on the May 5 ballot, with. surveys showing a tight race. Among the 5 frontrunners, three. have vowed to continue with the plans to close the Cobre Panama. mine, one has pledged a referendum on the matter and another has. not formally suggested his intentions.
The Canadian miner lost nearly half of its market price. after it was stripped of its contract and in March international rating. company Fitch reduced Panama's sovereign bonds to speculative. grade, pointing out financial and governance difficulties worsened by the. mine's closure.
Asked about its expectations for the mine after the vote, a. spokesperson for Very first Quantum stated just: As in any. jurisdiction we run in, we anticipate seeing the. process of democracy deliver the candidate of Panama's choice in. a reasonable, transparent and serene election.
spoke with leaders from 5 different protesters'. groups. Three groups, consisting of the country's primary workers'. union SUNTRACS, said there was no circumstance under which they. would let authorities seal a brand-new partnership with First Quantum.
Individuals currently showed on the streets they do not desire metal. mining, Saul Mendez, head of SUNTRACS, said.
Two groups stated they would support a referendum on the. matter, and forecasted the outcome would protest mining. A. study published by regional newspaper La Prensa in February showed. 90% of Panamanians oppose mining.
All five groups revealed their wonder about towards prospects,. even the ones who have actually outright opposed mining, stating that. political leaders do not tend to satisfy their promises.
If the incoming president opens that mine without. authorization from the entire country, of course we're going back. to the streets and to the sea, Sabino Ayarza, an agent. of the fishing flotilla that stopped First Quantum's operations. by obstructing its primary port, informed .
And we're going with other thoughts. We are no longer going. passively as in the past, however aggressively to close that.
also spoke with six legal experts in Panama who stated. that while regional laws could technically permit Very first Quantum's. potential customers to alter in a matter of months, a referendum or. another type of assessment to ensure public support would be. the only method to accomplish that politically.
First Quantum stated in February it was seeking $20 billion. through worldwide arbitration over Panama's order to close. the mine. The miner has applied for 2 arbitration proceedings,. one under the Canada-Panama Open Market Agreement, and another. linked to the arbitration clause on the canceled contract. The. provision offers proceedings in Miami, according to the. business.
Panama's deputy financing minister informed days after the. statement that the country is prepared to defend its interests. in the legal fight against First Quantum, including the state will. prove to courts it appreciates foreign investment.
Renzo Merino from Moody's sovereign group stated Panama's. economy was currently doing well before the mine began to extract. copper. Panama hasn't lost that. It still has the possible,. he stated, while alerting a healing might be sluggish if financier. issues spread to other sectors and the nation is required to. pay settlement in arbitration.
PRESIDENTIAL FRONTRUNNERS
Mining has not been a big campaign problem.
Amongst the 5 frontrunners, Jose Raul Mulino, who is. leading the most recent surveys, does not point out mining in his. government strategy and he has actually not participated in any governmental. debates.
Former President and prospect Martin Torrijos, who has actually been. among the top 3 candidates in lots of surveys, does not discuss. objectives for mining in his government strategy, though he informed. at a campaign occasion that the closure of the mine is a. decision Panamanians already took and he plans to follow.
Romulo Roux swore in his strategy to press ahead with closing. the mine, but did not point out anything about the future of. mining. He was not readily available for an interview but his running. mate, Jose Blandon, told at an occasion that his group has. no strategies to reverse the mining ban.
Present vice president and governmental candidate Jose. Gabriel Carrizo's proposition for the country requires a public. choose Panamanians to decide on the future of mining.
The projects of prospects Mulino, Roux, and Carrizo did. not make them readily available for interview for this story.
Panama's ban on brand-new metal mining concessions pushed up. copper costs due to worries about supply. Any tip of a shift in. Panama might again move markets.
Candidate Ricardo Lombana, who has actually been moving between. 2nd and 4th place in the most recent surveys, went even more in his. federal government plan by proposing to alter the constitution to ban. mining outright.
No financial effect is above the constitutional mandate and. the sovereign will. The whole country understands that the concession. agreement is unlawful which its closure must be consummated,. Lombana informed .
(source: Reuters)