Category: Regions

OCP Group and Fortescue subsidiary Fortescue Energy have announced a 50:50 joint venture (JV) to supply green hydrogen, ammonia and fertilizers to Morocco, Europe and international markets.

Though production, particularly from sour gas in Alberta, has declined, Canada remains the world’s second largest exporter of sulphur.

Dundee Precious Metals says that it has sold the Tsumeb smelter, including all associated assets and liabilities, to China’s Sinomine Resources Group for $49 million. Sinomine Resources Group is a Chinese company founded in 1999. Its main business and operations cover four segments: EV-lithium material development and utilisation, rare and light minerals (caesium and rubidium) development and application, geo-tech services and mining property development. Dundee Precious Metals will transfer all assets debt-free and cash-free, subject to normal working capital adjustments. The transaction is subject to customary closing conditions, including approval under the Namibia Competition Act and approvals required from Chinese regulatory authorities for overseas investments, and is expected to close in Q3 2024.

Over the last six months, climate and geopolitical events have disrupted seaborne trade. A record drought in Panama and the unprecedented intensity of attacks on commercial ships by the Houthi rebels in the Red Sea are straining the freight market. Almost 150 ships have been targeted along the latter trade route since the first attack was registered to a non-commercial ship last year.

Morocco’s OCP is continuing to expand its phosphate fertilizer production capacity. This includes the construction of new sulphur-burning acid capacity to support phosphate production and provide carbon-free power.

CRU and UniverSUL Consulting, together with the event host, ADNOC, are delighted to welcome you back for MEScon 2024 at the Conrad Abu Dhabi, Etihad Towers from 20 to 23 May 2024.

The Sulphur Institute (TSI) held its World Sulphur Symposium in Charleston from April 2nd to 4th.

Although global ammonia supply is set to increase this year, there is a shortage of new merchant capacity after 2024 which may lead to rising prices in the medium term.

BASF, SABIC, and Linde have jointly inaugurated the world’s first demonstration plant for large-scale electrically heated steam cracking furnaces at BASF’s Verbund site in Ludwigshafen, following three years of development, engineering, and construction work. The three companies signed a joint agreement to develop and electrically heated steam cracking furnaces in March 2021.

Although it has been a major exporter of urea, increasing Chinese government restrictions have restricted the seasonal window for exports.