In the news today…
Congress:
- Politico Pro reports Senate Democrats struck a deal with West Virginia Sen. Joe Manchin on Thursday for an expansive bill that includes the biggest package in U.S. history to address climate change.
Minerals/Metals:
- Politico Pro reports the Energy Department’s Loan Programs Office announced Wednesday it closed a more than $100 million loan for the processing of a critical material used in electric vehicle batteries.
- E&E Greenwire reports the Energy Department today announced that it closed on a $102.1 million loan for a Louisiana graphite processing plant with the potential to help make millions of electric vehicles.
- Politico Pro reports the Russian invasion of Ukraine has had ripple effects across the globe, from arms sales to oil and gas flows to mining critical elements that are at the core of the aerospace and defense industries.
Coal:
- Reuters reports European buyers have had to temporarily set aside green aspirations in a rush for coal as the region’s energy crisis deepens, ramping up shipments from Australia, South America, Colombia and South Africa while tightening the global market.
- Argus reports US coal-fired generation fell from a year earlier in May despite an increase in electric power demand.
- Axios reports global coal consumption is slated to rise slightly this year, matching the prior peak set in 2013, the International Energy Agency said in a new forecast.
World News:
- Wall Street Journal reports some of the world’s largest iron-ore miners said they expect the market to continue dictating prices of the commodity despite China setting up a centralized buying group to try to gain more sway.
- Washington Post reports China has embarked on one of the biggest shake-ups of the global iron-ore market in more than a decade.