Kazakhstan Thermal Coal Production Falls in Jan
Kazakhstan’s thermal coal production slipped 1.7% YoY to 9.92 million tonnes in January, while total coal output fell 0.7% to 10.31 million tonnes. Despite the dip, the government is rolling out a national project to add about 7.6 GW of coal‑fired capacity by 2030, which will require an additional 16 million tonnes of coal annually. Private producer Bogatyr Komir plans to boost output to 45.2 million tonnes this year and up to 56.5 million tonnes by 2032. In Europe, Kazakh coal is being offered at $8‑10 per tonne discounts to the API 2 benchmark, though icy Baltic conditions are forcing larger vessel shipments to Poland.
Spanish Spot to Deliver Well Below Feb Expectations
The Spanish electricity spot index plunged to an average €12.66/MWh for 1‑20 February, far below the €50.55/MWh forward contract and last year’s €116.88/MWh level. Wind generation surged 123% year‑on‑year to 11.2 GW, while gas‑fired output fell 25% to 3.6 GW, driving the price...
Fastmarkets Proposes to Discontinue Two Category 3 Animal Fat Ddp NWE Assessments
Fastmarkets announced a proposal to discontinue two Category 3 animal‑fat price assessments – AG‑TLW‑0028 (high‑grade bone fat) and AG‑TLW‑0029 (pure beef tallow) – for DDP Northwest Europe. The move is attributed to insufficient market liquidity for these contracts. A public consultation...
Congo Offers Rebel-Held Rubaya Tantalum Mine to US in Minerals Deal
The Democratic Republic of Congo has placed the rebel‑held Rubaya coltan mine on a shortlist of strategic assets offered to the United States under a new minerals‑cooperation framework. Rubaya, which supplies roughly 15% of the world’s coltan, requires between $50 million...
Brazos Starts Up New Gas Processing Plant in Midland Basin
Brazos Midstream commissioned its largest cryogenic plant, Sundance II, adding 300 MMcfd of processing capacity in the Midland Basin and joining the 200 MMcfd Sundance I that began operations in 2024. The company also broke ground on Cassidy I, another 300 MMcfd cryogenic facility in Glasscock...
Orsted’s Hornsea Chief Describes 'Juggling Act' After Monopile Deal Collapse
Orsted’s Hornsea 3 chief announced the collapse of a major monopile contract, forcing the 2.9 GW offshore wind project to pause its foundation procurement. The decision highlights the difficulty of securing large‑scale steel structures for the UK’s expanding offshore wind fleet....
USA Says VEN Oil Output Can Climb 30-40 Pct This Year
The Trump administration has issued new licenses permitting several Western oil companies to operate in Venezuela, potentially boosting the country's output by 30‑40 percent—roughly 300,000 to 400,000 barrels per day—this year. Energy Secretary Chris Wright said the increase would represent...
Equinor Halts Dutch CCS-H2 Plans, Belgian Site Still On
Equinor has scrapped its Dutch H2M Eemshaven CCS‑hydrogen project, citing policy uncertainty and insufficient funding, while the Belgian H2BE plant remains on schedule. Both plants were designed to produce 210,000 t/yr of low‑carbon hydrogen using autothermal reforming and each received roughly €160 million...
EIA Lowers USA Gasoline Price Forecasts
The U.S. Energy Information Administration trimmed its gasoline price outlook, now projecting an average of $2.91 per gallon in 2026 and $2.93 in 2027, down slightly from the January forecast of $2.92 and $2.95. The agency’s short‑term energy outlook still...
EU-Backed Minerals Projects in Africa Move From Policy to Proof
The European Commission has granted strategic status to four African mineral projects—two in South Africa and Zambia, plus sites in Malawi and Madagascar—under the Critical Raw Materials Act, with decisions due in Q2 2026. The Zandkopsdrift rare‑earth operation in South Africa...
Shell Spins the Drill Bit with Stena Drillship in Egyptian Waters
Shell has launched a multi‑well offshore drilling campaign off Egypt using Stena Drilling’s sixth‑generation IceMax drillship. The first wells, Mina West development followed by Sirius and Velox exploration, are located in the Northeast El Amriya concession where Shell holds a...
Martin Midstream Partners' Annual Loss Deepens
Martin Midstream Partners reported a $14.7 million net loss for 2025, widening from a $5.2 million loss in 2024. The loss was driven primarily by $57.8 million in interest expense and higher SG&A costs, while adjusted EBITDA fell to $99 million for the year....
South Africa’s Kropz Raises Phosrock Output, Grade
South African phosphate rock producer Kropz has lifted monthly output to roughly 40,000 tonnes, a 33% increase over last year. The company now ships rock averaging 30% P₂O₅, but recently exported a 31.1% P₂O₅ cargo to South Korea, its highest‑grade...
Saudi Maaden Sells DAP to Latam
Saudi Maaden announced the sale of 45,000‑50,000 tonnes of diammonium phosphate (DAP) at $715‑720 per tonne FOB, with loading slated for early March. The cargo is destined for Latin America, with Argentina emerging as the most probable off‑take market. Net...
IMO NZF Would Send Stable Demand Signal for Zero-Emission Fuels
A new UCL Shipping and Oceans Research Group report evaluates three IMO Net Zero Framework (NZF) scenarios and finds that only the framework "as‑is" delivers a credible, stable demand signal for scalable zero‑emission fuels. The analysis warns that removing the...
Vedanta Trades at Discount to Peers; Well Placed to Benefit From Strong Aluminium Prices, Says Kotak Securities
Vedanta Ltd. is trading at a discount to its aluminium peers, and Kotak Securities believes the company is well positioned to benefit from a strong aluminium price environment. Aluminium prices slipped to $3,030 per tonne, pressured by a firmer US...
Six LNG Vessels to Sport GTT’s Tank Design
Gaztransport & Technigaz (GTT) secured tank‑design contracts for six new LNG carriers, four for Shandong Marine Energy via Jiangnan shipyard and two for Samsung Heavy Industries. Each vessel will carry roughly 174‑175,000 cubic metres of LNG using GTT’s Mark III Flex membrane...
Russia Executes First Triple LNG Ship-to-Ship With Simultaneous Transfers From Yamal and Arctic LNG 2
Russia performed its first triple LNG ship‑to‑ship (STS) transfer in Arctic waters, linking two Arctic LNG 2 cargos and one Yamal LNG cargo to conventional tankers. The operation took place in the Murmansk region, using the Saam floating storage unit for two...
German Car Manufacturing Sector Power Demand Could Fall
Germany’s passenger‑vehicle manufacturing sector is set to see a drop in electricity consumption as overall car output declines, VDA chief economist Manuel Kallweit warned. Power use fell to 12.86 TWh in 2024, about 2.8% of national electricity, and is projected to...
Kimmeridge-Mubadala JV to Acquire SM Galvan Ranch in Texas
Mubadala and Kimmeridge’s joint venture Caturus will buy SM Energy’s Galvan Ranch for $950 million, adding 250 MMcfed production from 260 wells. Post‑deal, pro‑forma net output rises to about 950 MMcfed. The acquisition gives Caturus over 275,000 net acres across the Gulf Coast...
25 Rigs Out of Borr Drilling’s 29-Strong Fleet Either on Hire or with Jobs Lined Up
Borr Drilling now has 25 of its 29 jack‑up rigs either under bareboat charter or with confirmed jobs, covering regions from Southeast Asia to the Americas. The firm’s day‑rate equivalent backlog grew to $1.2 billion, reflecting more than 1,150 contracted days....
Gary Mar: Why Canada Needs a New National Agriculture Strategy
Gary Mar argues that Canada’s $150 billion agriculture sector, responsible for $92 billion in exports and roughly one‑in‑nine jobs, is hampered by fragmented infrastructure and the absence of a coordinated national strategy. He highlights bottlenecks such as rail bridges and interprovincial trade...
Kumba Upbeat on Iron Ore Contract Talks with China
Kumba Iron Ore says it will wrap up contract negotiations with Chinese steelmakers this year, despite the ongoing dispute between China Minerals Resources Group and major miners. China now represents 56% of Kumba’s 2025 export sales, up from 54% in...
Weekly Newsletter 19 February 2026
Albemarle announced the care‑and‑maintenance status of its sole remaining lithium‑hydroxide train in Australia, sparking concerns about the nation’s downstream ambitions. Despite this setback, new projects from Tianqi, Mineral Resources and other players are slated to come online by 2028, keeping...
No Reason to Believe India Has Changed Stance on Purchasing Crude Oil: Russia’s Foreign Ministry
Russia’s foreign ministry asserted that India has not altered its policy on buying Russian crude, emphasizing the mutual benefits of the trade. However, Indian import data for January 2026 shows a 40.5% drop in total merchandise from Russia, with crude...
Turkey Launches Ramadan Food Price Crackdown as Inflation Anger Intensifies
Turkey’s government has banned chicken exports and launched a nationwide crackdown on "exorbitant" food prices as Ramadan begins. Trade inspectors are sweeping markets for hoarding and misleading practices, with fines up to TL 1.8 million for violations. Food inflation is running at...
GrainCorp Confident of Global Grain Market Rebalance
GrainCorp CEO Robert Spurway told shareholders that global wheat oversupply of 18 million tonnes is driving low prices and tighter margins for grain handlers. Growers are holding back grain, reducing market availability, but the company expects inventories to rebalance eventually, though...
GRDC Update: Pulses a ‘Slow Burn’ as WA Seeks Wider Rotation
At the GRDC’s 2026 Perth Update, a pulse panel highlighted the modest share of pulses in Western Australia’s record 27 million‑tonne harvest—just 1 % compared with 4.4 Mt of canola. Researchers and growers argued that improved soil liming, longer‑term rotation planning, and newer...
EnergyX Enters US Manufacturing Phase
EnergyX has launched one of North America’s largest roll‑to‑roll ion‑exchange membrane production lines at its Austin, Texas facility, delivering up to 500,000 square meters of membranes per year. The new plant enables in‑house manufacturing of the core component for its...
Cattle Futures Mixed Ahead of On Feed Report
Live cattle prices slipped modestly on the CME, with April contracts down $0.27 to $242.52 and June contracts down $0.02 to $238.42. Feeder cattle also fell, March contracts losing $0.40 to settle at $370.57. The market is largely waiting for...
Golden Pass LNG Activity Normalizes; Permian Lateral Cleared to Proceed
Golden Pass LNG’s gas nominations have settled back to average levels after a brief surge, now hovering around 1.5% of the terminal’s capacity. The project received approval to construct a 1.1‑mile, 42‑inch lateral linking the facility to the Permian Basin,...
Op-Ed: How Canada and Mexico Can Align a Critical Minerals Strategy
Canada and Mexico are drafting a joint action plan on critical minerals, infrastructure and supply chains, slated for release in the second half of 2026. The framework targets non‑geological bottlenecks such as permitting, transport corridors, power supply, processing capacity and...
The Energy Transition Has a Price
Ernest Scheyder’s book *The War Below* chronicles the hidden battle over lithium, copper and other critical minerals needed for the global energy transition. The author travels from Nevada to Bolivia, interviewing miners, activists, investors and Indigenous communities to illustrate the...
Metals Prices Regain Stability After Frenetic January Sell-Off
Metal prices rebounded in February after a volatile January sell‑off, with gold up 14.5% and silver up 18.9% month‑over‑month. All platinum‑group metals rose more than 10%, while lithium hydroxide surged 38.8% and tin climbed 23.6%. The sharp end‑January decline was...
TC Energy Forecasts Natural Gas Demand Surge Equivalent to Entire European Market
TC Energy projects North American natural‑gas demand will rise by 45 Bcf/d by 2035, a volume comparable to the entire European market. The surge is attributed to accelerating LNG exports, expanding power‑generation capacity, and heightened reliability requirements for distribution utilities. Midwest...
Anglo Asian Expects Copper Output to Triple in 2026
Anglo Asian Mining announced it will aim to triple copper production in 2026, targeting 20,000‑25,000 tonnes after delivering 7,915 tonnes from its newly‑online Gilar and Demirli mines in 2025. The company expects an all‑in sustaining cost (AISC) of $6,800‑$7,800 per...
Luxembourg Launches New Tender for C&I Solar
Luxembourg’s Ministry of the Economy has opened a €3 million tender to fund commercial and industrial solar projects between 30 kW and 200 kW. Applications are accepted until April 17 and are split into three lots covering rooftop, façade and car‑port installations. Projects that...
EQT Chief Calls for Reforms After Blowout Natural Gas Spot Prices During Winter Storm Fern
Winter Storm Fern caused U.S. natural‑gas spot prices to surge above $80 per MMBtu, marking one of the highest spikes on record. EQT Corp.’s MVP system operated at full capacity, but the event highlighted the strain on existing pipeline infrastructure....
Various Project Ramp-Ups Set to Boost Global Lithium Output in 2026
Global lithium production surged 19.7% in 2025 to 338,300 tonnes and is projected to climb another 15% in 2026, reaching 389,100 tonnes. The acceleration is driven by rapid ramp‑ups in Argentina, China, Australia, Mali and Zimbabwe, each adding new projects...
CleanChoice Energy Triples Capacity with Solar Acquisitions in North Carolina
CleanChoice Energy announced the acquisition of two utility‑scale solar projects in North Carolina—Sumac (103.92 MW) and Sweetleaf (118.3 MW)—adding 222.2 MW of capacity and tripling its portfolio. Construction is slated to start early 2027 with grid interconnection to the PJM market expected in...
Mining Stocks Dominate TSXV’s Top Performers List
Metals and mining dominated the TSX Venture Exchange’s 2025 top‑performer list, with 48 of the 51 entries coming from the sector. Junior miners posted an average share‑price gain of 443% and a combined market capitalisation of $19.9 billion. Record liquidity supported...
Press Release: Eaton Square’s Silicon Creates Partnership with Klear to Strengthen Critical Mineral Supply Chains
Australian‑founded Eaton Square announced that its Silicon subsidiary will integrate with U.S. capital‑intelligence firm Klear, creating a unified solution for sourcing, financing and managing critical minerals. The combined platform leverages AI to provide end‑to‑end operational and treasury visibility, offering verified...
South African Govt ‘Very Supportive, Great to Work with’, Glencore Highlights
Glencore reported 2025 earnings of $13.5 billion, driven by strong copper and zinc markets. CEO Gary Nagle praised the South African government as "very supportive" and "great to work with," extending beyond ferrochrome negotiations. The mining giant highlighted that the collaborative...
Ground View: How Industry Leaders Are Shaping Pakistan’s Mining Future
The Pakistan Mineral Investment Forum (PMIF) will gather industry leaders in Islamabad to spotlight the country’s world‑class copper, gold, and critical mineral deposits, most notably the revived Reko Diq project. While the geology is undisputed, the article argues that mining...
AD Ports Joins Cameroon’s Douala New Dry Bulk Terminal Concession
UAE‑based AD Ports Group has entered a 30‑year concession with Africa Ports Development to design, build and operate a new dry‑bulk terminal at Cameroon’s Port of Douala. The partnership gives AD Ports an effective 51% economic stake and commits roughly...
Energy Transition Underpins Dry Bulk Sector
Electric‑vehicle sales have surged nearly 700% this decade, driving a rapid rise in spodumene shipments from Australia to China and doubling bulk volumes since 2023. Panamax vessels now carry almost half of the 7 million tonnes of dry bulk moved last...
Glencore Doubles Down on Copper, Keeps M&A in Play
Glencore has secured a land‑access agreement with Gecamines that extends the Kamoto Copper Company’s mine life into the mid‑2040s and unlocks additional ore zones, enabling the asset to target 300,000 tonnes of copper annually. The deal is a cornerstone of...
DHT VLCC Clocks $90,000 a Day on One-Year Deal
DHT Holdings has secured a one‑year charter for its 2012‑built VLCC DHT Opal at $90,000 per day, starting this month. The rate underscores how tight the market has become for the world’s largest crude carriers, with Gulf‑China spot earnings now...
Long-Term Trade-Offs of Agrivoltaics on Pear Farming
A four‑year study in Victoria, Australia examined overhead solar panels in a blush‑pear orchard. The agrivoltaic systems cut sunburn and hail damage and boosted energy output, especially with a 5° west tilt that produced about 10% more electricity. However, shading...
Bumi Resources Minerals Says Palu Operations Unaffected by Site Closure
Bumi Resources Minerals (BRM) confirmed that the government‑ordered closure of a contested gold mine in its Palu concession will not disrupt its core operations because the site was never active. The enforcement action targeted an area where illegal miners had...