Africa-Press – Mozambique. <\/strong><\/span>European carmakers are choosing to pay an extra $10 to $15 a tonne for \u201cgreen aluminium\u201d from Australian diversified miner South32, as automakers race to secure metals made without fossil fuels to cut their carbon footprint.<\/p>\nGraham Kerr, the chief executive of South32, said some automakers were actively buying aluminum at a premium from its hydropowered smelters in Mozambique and its jointly owned renewable-powered smelter in Brazil, without being compelled under European Union law.<\/p>\n
.South32 chief executive Graham Kerr says European carmakers are choosing to pay an extra $10 to $15 a tonne for \u201cgreen aluminium\u201d. Matt Jelonek<\/p>\n
Mr Kerr told the Melbourne Mining Club the choice to buy the metal made with renewable power, rather than fossil fuels, \u201cis just their preference\u201d, but that could change.<\/p>\n
\u201cBut we\u2019re also starting to see some people talk about excluding non-green aluminum from some of the tender processes, and I think that\u2019s going to accelerate,\u201d he said.<\/p>\n
\u201cGreen aluminium definitions are going to change over time. The major driver at the moment is your energy generation source. So for us in Mozambique with Mozal Aluminium\u2019s hydropower and … Alumar [in Brazil] is also a combination of wind and solar and hydro,\u201d he said.<\/p>\n
He sees strong demand for the versatile metal, which could be used in some instances to replace copper, as automakers face mounting pressure to move away from fossil-fuelled metal manufacturing processes amid the electronic vehicle boom.<\/p>\n
\u201cWe actually think the world\u2019s going to be short of aluminium if China maintains its self-sufficiency … which is certainly the direction they\u2019re going.\u201d<\/p>\n
Mr Kerr joined BHP\u2019s calls for the Australian government to compete with the enticements on offer from the United States under the colossal Inflation Reduction Act to attract and capitalise on global demand for metals crucial for the green transition.<\/p>\n
He said it was \u201cfar easier to invest in the USA than Australia\u201d thanks to the IRA. The new law \u2013 which favours companies from the US and allied nations to cut out China \u2013 provides grants and tax breaks to entice US-aligned battery mineral mining and green manufacturing.<\/p>\n
Mr Kerr said South32 aims to take advantage of the grants and loans on offer to explore its Clark deposit of zinc, manganese and silver oxide in the United States.<\/p>\n
\u201cWe\u2019ll probably try and tap some of that money. Typically, it\u2019s been about a third of the capital they\u2019ll cover, and it\u2019s generally been not as a loan but as the grant.\u201d<\/p>\n
He also flagged the pool cash available under the IRA via the US Department of Energy to build processing facilities to bring battery mining and processing on-shore, but said South32 wouldn\u2019t fully seek to tilt towards down-stream mineral processing.<\/p>\n
\u201cWe would probably look at [producing] high-purity manganese sulfate. That\u2019s the product we\u2019d be looking to produce. We wouldn\u2019t go too much further than the battery chain from that.\u201d<\/p>\n
He said the US investment climate is most advanced in \u201cterms of pools of money to help developers\u201d and said Australia should follow suit.<\/p>\n
\u201cI think they should do because I think that\u2019s where the world\u2019s going to go. And whether it\u2019s us or Rio, everyone has opportunities to invest money in every jurisdiction.\u201d<\/p>\n
For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"By Elouise Fowler Africa-Press – Mozambique. European carmakers are choosing to pay an extra $10 to $15 a tonne for \u201cgreen aluminium\u201d from Australian diversified miner South32, as automakers race to secure metals made without fossil fuels to cut their carbon footprint. Graham Kerr, the chief executive of South32, said some automakers were actively buying […]<\/p>\n","protected":false},"author":84,"featured_media":38695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-38697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\n
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