2025-06-25 12:27
New Delhi to seek foreign investment to boost copper supplies India could court Codelco, BHP to set up smelters, refineries India's import dependence for copper concentrate to go up to 97% NEW DELHI, June 25 (Reuters) - India has held internal talks about its growing vulnerability to the tightening global copper market and plans to discuss ways to lock in supply from resource-rich countries during ongoing trade negotiations, according to two government sources and a draft government policy document. New Delhi is also considering measures to help boost domestic refined copper output, including through foreign investment, the sources and the document said. Sign up here. India meets over 90% of its copper concentrate needs through imports, and its dependency is expected to rise to 97% by 2047, said the document reviewed by Reuters. It produces an estimated 573,000 metric tons of refined copper annually against demand of around 1.8 million tons, relying on imports to bridge the gap. India could approach global majors such as Chile's state-owned miner Codelco, the world's largest copper producer, and Australian miner BHP (BHP.AX) , opens new tab to set up domestic copper smelters and refineries, said the sources and the document. Codelco declined to comment, while BHP and the federal Ministry of Mines did not respond to Reuters' emails seeking comments. Indian state firms could invest in overseas mining projects run by Codelco and BHP in exchange for participating in the development of copper infrastructure in India, said the sources, who asked not to be named because the plans were not public. India's copper imports have jumped since the 2018 closure of Vedanta's Sterlite Copper smelter. The country imported 1.2 million metric tons of copper in the fiscal year to March 2025, up 4% from a year earlier. 'RESOURCE NATIONALISM' Explaining the strategies likely to be adopted in bilateral trade pacts, the document stated that India is seeking to include a detailed "copper chapter" in its ongoing free trade negotiations with Chile and Peru aimed at securing copper concentrate supplies. While tightening copper supplies from key exporters such as Indonesia have limited India's sourcing options, Chile and Peru already have long-term commitments with major global buyers like China, further narrowing India's import choices, it said. The government also wants the state-run Khanij Bidesh India Ltd to secure supplies of strategic minerals from overseas and explore copper assets in Chile, Peru, Australia, Mongolia, and other countries, the document said. India could also become more vulnerable to supply chain disruptions as leading suppliers of mineral resources resort to "resource nationalism", it said. China placed export restrictions on rare earth elements in April, squeezing supply of minerals used in weapons, electronics and a range of consumer goods. This trend underscores "an urgency for foreign asset acquisition", the document said. https://www.reuters.com/world/china/india-plans-steps-counter-rising-copper-supply-risks-2025-06-25/
2025-06-25 12:16
June 25 (Reuters) - Pipeline operator Energy Transfer (ET.N) , opens new tab said on Wednesday it will supply U.S. oil major Chevron (CVX.N) , opens new tab with an additional 1 million tonnes per annum (mtpa) of LNG from its Lake Charles LNG export facility. The 20-year agreement brings the total volume of LNG supply contracted by Chevron to 3 mtpa, following the initial 2 mtpa agreement signed last year. Sign up here. Energy Transfer said it will supply the super-chilled gas on a free-on-board basis, adding that the purchase price will consist of a fixed liquefaction charge and a gas supply component indexed to the Henry Hub benchmark. The agreement is subject to Energy Transfer reaching a positive final decision. https://www.reuters.com/legal/litigation/energy-transfer-expands-its-lng-supply-agreement-with-chevron-2025-06-25/
2025-06-25 12:14
TRIPOLI, June 25 (Reuters) - Libya's National Oil Company (NOC) had signed a memorandum of understanding with Turkish state oil company TPAO to conduct a geological and geophysical study of four offshore areas, NOC said on Wednesday. "Discussions were also held regarding conducting a two-dimensional seismic survey (10,000 km long), and processing the data resulting from these surveys within a period not exceeding 9 months," Libya's state oil firm said in a statement. Sign up here. NOC said the agreement was signed in Istanbul by the two companies' executives., It provided no further details. https://www.reuters.com/business/energy/libya-turkey-sign-geological-geophysical-mou-four-offshore-areas-noc-says-2025-06-25/
2025-06-25 12:12
ATHENS, June 25 (Reuters) - Greece has arrested a Georgian woman suspected of discarding a cigarette that helped trigger one of several wildfires razing land and threatening homes on the island of Chios. Blazes broke out on Chios in the Aegean Sea on Sunday and tore through 10,000 acres of mainly bush and pasture land in three days, Greece's climate crisis and civil protection ministry said on Wednesday. Sign up here. The fire brigade said in a statement that the woman was arrested on Tuesday night and that authorities were still investigating the cause of the fires. The Georgian was charged with unintentional arson, two fire brigade officials told Reuters on condition anonymity. Witnesses saw her drop a cigarette, one of the officials said. Though the wildfires were largely contained by Wednesday, hundreds of firefighters remained on Chios to prevent rekindling and bring all fronts under control, the Greek fire brigade said. At Europe's southernmost tip, Greece is often hit by wildfires during its hot and dry summers, but authorities say the fast-changing climate is fuelling more destructive blazes. The Greek government has paid hundreds of millions of euros in damages related to extreme weather to households and farmers and to update firefighting equipment. It has upped firefighter numbers to a record 18,000 this year in anticipation of a challenging fire season. They will be assisted by 294 firefighters from five European countries from July 1 to Sept. 15. https://www.reuters.com/business/environment/greece-holds-georgian-suspected-fuelling-chios-fire-with-cigarette-2025-06-25/
2025-06-25 12:11
June 25 (Reuters) - State-run Nuclear Power Corporation of India Ltd (NPCIL) has extended the deadline for proposals from industrial users to set up 220 megawatt electric (MWe) small nuclear reactors, amid growing interest from companies seeking cleaner energy sources. NPCIL has extended the deadline for submitting proposals for setting up Bharat Small Reactors (BSR) in new or existing industries to Sept. 30, 2025, from June 30, the company said in a notice published on Wednesday. Sign up here. The corporation will now open proposals on a rolling basis. NPCIL said several industrial houses have already signed non-disclosure agreements and begun joint work on the BSR model, while others have requested more time to prepare submissions. The move comes as India looks to decarbonize industrial power and meet its net-zero targets, and as part of this push, is overhauling its nuclear liability law to attract foreign and private investment. The country aims to expand nuclear capacity to at least 100 gigawatts (GW) by 2047, up from about 9 GW currently. Under the proposal announced in December, NPCIL will operate the plant, while industries will use the power generated and cover the capital and operating expenses. India currently operates 25 nuclear reactors, contributing about 3% of its electricity. NPCIL is the sole operator of nuclear power plants in the country, but the government has proposed allowing private Indian firms to build nuclear plants and permitting foreign companies to hold up to a 49% stake. https://www.reuters.com/sustainability/climate-energy/indias-nuclear-power-corp-extends-deadline-small-reactor-proposals-industrial-2025-06-25/
2025-06-25 11:38
LISBON, June 25 (Reuters) - Iberia's blackout in April showed that European grids must modernise to cope with more renewable power generation, and Portugal wants the EU to help finance these investments, its energy minister told Reuters on Wednesday. Energy minister Maria da Graca Carvalho said that unlike in the past, when thermal power plants facilitated grid management with their stable supply, more renewable sources such as wind and solar mean more intermittency and decentralised output which are harder to manage. Sign up here. "The blackout made it clear there is a need for greater modernisation, digitalisation of the grids, applying data science, storing data, in order to understand what is happening in a more complex system and reacting to it," she said. "It requires investment and we have been asking the European Commission to guide Europe in this investment and also help co-finance it because it is also a security issue," she said. The Commission has estimated that to meet its clean energy transition targets, EU countries would need to invest 584 billion euros ($679 billion) to expand and modernise electricity grids by 2030. In May, it launched a public consultation to receive input for the future European Grids Package, which is expected to be finalised by the end of 2025. The Spanish government said in a report last week that grid operator Redeia (REDE.MC) , opens new tab had miscalculated the correct mix of energy in the system on April 28, but also blamed some thermal power plants using coal, gas and nuclear, for failing to help maintain an appropriate voltage level. A surge in voltage triggered a cascade of power plant disconnections, ultimately leading to the outage that spread to Portugal. The minister said the report still lacked clarity and Portugal was awaiting an independent report from the European energy regulators' agency ACER to understand what caused the outage and what needs to be done to "avoid future blackouts and, if they occur, to be able to restart (the system) more quickly". ($1 = 0.8605 euros) https://www.reuters.com/business/energy/portugal-says-power-outage-shows-need-eu-help-fund-grid-modernisation-2025-06-25/
