Japan is preparing for a potential release of crude oil from its strategic reserves amid the ongoing Iran crisis, which has disrupted supply from the Middle East.
According to Reuters, a senior parliament member, Akira Nagatsuma of the Centrist Reform Alliance, said a Japan Organization for Metals and Energy Security (JOGMEC) official at the Shibushi storage base confirmed that the Agency for Natural Resources and Energy (ANRE) had instructed the site to prepare for a possible release.
The timing and scope of any release remain unclear, and it is not known if other storage sites received similar directives.
Japan relies on the Middle East for about 95% of its crude oil, with roughly 70% shipped through the Strait of Hormuz, currently effectively closed following U.S. and Israeli strikes on Iran.
The Shibushi base, in southern Japan, is one of several locations holding the country’s strategic reserves. Japan maintains emergency oil reserves sufficient for 254 days of domestic consumption, among the world’s largest, including government, private-sector, and jointly held stockpiles, Reuters reports.
Tokyo last tapped its reserves in 2022 as part of an International Energy Agency (IEA) coordinated release following Russia’s invasion of Ukraine. While Industry Minister Ryosei Akazawa has said there are no immediate plans to release oil, the ministry continues to monitor the situation closely.
https://safety4sea.com/japan-prepares-to-release-its-reserves-of-crude-due-to-middle-east-crisis/
By Alex Kimani - Mar 08, 2026, 6:00 PM CDT
Back in September 2025, Pakistan and Saudi Arabia signed the Strategic Mutual Defence Agreement (SMDA), a landmark pact elevating their security cooperation to a formal alliance. The agreement dictates that an attack on one nation is considered an attack on both, potentially extending Pakistan's nuclear umbrella to Saudi Arabia and strengthening joint military intervention. The pact alters the regional security architecture, particularly affecting Iran, India, and Israel, while potentially signaling a shift in Saudi reliance away from the U.S. towards a Pakistan-China-Saudi axis.
And now, Pakistan could find its loyalty to its oil-rich ally tested just months after formalizing its defense alliance.
Pakistan’s foreign minister, Ishaq Dar, this week said that Islamabad had warned Tehran not to strike Saudi territory because the pact treats an attack on either country as an attack on both. The warning came after Iranian drones hit the U.S. embassy compound in Riyadh and attacks targeted Saudi infrastructure, including the Ras Tanura oil complex. Dar said he conveyed the message directly to Iran’s foreign minister during a call over the weekend.
Unlike last year’s U.S.-launched “Operation Midnight Hammer”, which only elicited a symbolic response from Iran, this time around, “Operation Epic Fury” has triggered a much more aggressive reaction by the OPEC producer following the death of Supreme Leader Ayatollah Ali Khamenei, with Iran launching widespread and intense retaliatory attacks across the Middle East.
Tehran has fired hundreds of Shahed drones and high-speed ballistic missiles targeting Israel and multiple U.S.-allied Gulf nations, including the UAE, Saudi Arabia, Kuwait, Bahrain, Qatar and Oman. The Islamic Revolutionary Guard Corps (IRGC) declared the Strait of Hormuzclosed and warned of attacks on vessels, forcing a halt to major oil and gas flows and causing global shipping to seek alternative routes. The Saudi Foreign Ministry has confirmed that Iranian attacks targeted the capital and the kingdom's eastern region. Multiple Iranian drones struck the U.S. Embassy in Riyadh, causing material damage, while the Ras Tanura oil refinery and other Aramco facilities were targeted by drones and projectiles. Saudi forces were able to intercept and destroy the majority of the missiles.
And, Pakistan has certainly taken notice. Pakistan's Foreign Minister Ishaq Dar recently revealed that he had warned Iran against aggression towards Saudi Arabia, "I made them (Iran) understand that we have a defence agreement," Dar told the Financial Times. Last year, Iranian General Mohsen Rezaei reported that Pakistan assured Iran of a nuclear strike against Israel if Israel used nuclear weapons against Tehran. However, Pakistani officials dismissed the statement as baseless and fabricated.
For now, analysts believe that there’s a low probability that Pakistan will join the war in the Middle East or extend its nuclear umbrella to Saudi Arabia. For one, SMDA undermines several important global nuclear treaties, including the Nuclear Non-Proliferation Treaty (NPT) and the Treaty on the Prohibition of Nuclear Weapons (TPNW). NPT was primarily negotiated by the Eighteen-Nation Disarmament Committee (a UN-sponsored group) and finalized by the United States, the Soviet Union, and the United Kingdom and opened for signature in 1968.
The treaty is the cornerstone of the global nuclear nonproliferation regime, aiming to prevent the spread of nuclear weapons, promote cooperation in the peaceful use of nuclear energy and advance nuclear disarmament. It is built on three pillars: nonproliferation, disarmament and peaceful use. Nearly all nations in the world have signed the NPT, making it a critical international instrument for global security. The NPT recognizes the United States, Russia, China, France and the United Kingdom as nuclear-weapon states, being the only nations to have detonated a nuclear explosive before 1967. Other nations have agreed not to acquire or produce nuclear weapons in exchange for access to peaceful nuclear technology, such as for electricity generation or medical applications. The International Atomic Energy Agency (IAEA) is responsible for conducting inspections and monitoring compliance with the treaty to ensure that nuclear programs are used for peaceful purposes only.
However, Pakistan, India, Israel, and South Sudan have never signed the NPT, with Pakistan, India, and Israel widely believed to possess nuclear weapons.
That said, the Treaty on the Prohibition of Nuclear Weapons (TPNW) is considered the first legally binding international agreement to comprehensively prohibit nuclear weapons. Unlike the NPT, which aims for non-proliferation and gradual disarmament, TPNW’s goal is total and immediate prohibition from owning nuclear weapons. The treaty became legally binding in January 2021, after reaching the 50-nation ratification threshold. In late 2025, the TPNW reached a "global majority" of UN member states after Kyrgyzstan became a state party. Currently, there are 95 signatories and 74 states that have ratified or acceded to the treaty. Not surprisingly, no nuclear state has signed the treaty. Likewise, Pakistan, India and Israel have not acceded to the treaty.
Pakistan has never officially stated that it extended nuclear protection to Saudi Arabia. Still, SMDA adds firepower to Saudi's diplomatic moves, with analysts at London-based think tank Chatham House saying that the pact "sets a precedent for extended deterrence".
https://oilprice.com/Energy/Energy-General/Why-Pakistan-Could-Be-Sucked-Into-Middle-East-War.html
On the campaign trail in 2024, Donald Trump recognized that Americans were still deeply concerned about inflation and the cost of living, despite the improving conditions after the 2022 spike. To that end, the Republican candidate focused heavily on the issue and made all kinds of bold promises about “Day One” improvements, all while struggling with the most basic of questions: What would he actually do on the issue?
When pressed, he tended to focus on gas prices. To hear Trump tell it, he would focus obsessively on drilling for oil, everywhere and all of the time, which he said would lower gas prices, which in turn would make it more affordable to transport goods to marketplaces, which in turn would lower prices.
It was, to be sure, a highly dubious pitch rooted in suspect assumptions, but it was a line much of the electorate was willing to embrace, as evidenced by his return to power.
The gap between what Trump promised to deliver and what he has delivered is enormous — and growing. As The New York Times summarized, “Oil prices surged on Monday in a sign of growing concern that the war in the Middle East will continue to take a toll on energy supplies, raising gas prices for American consumers and weighing on the stock market.”
The Washington Post added, “The average cost of a gallon of regular gasoline in the U.S. increased by 34 cents in the last week to $3.32 on Friday, according to AAA. The cost of diesel has grown even more significantly and analysts expect the price of both fuels to keep climbing.”
Broadly speaking, the benchmark metric eyed by the energy sector is West Texas Intermediate, which surged last week in ways unseen in years. (There’s also the Brent crude metric, eyed by international markets, which climbed at a similar pace.)
To put the increase in perspective, I put together this chart showing WTI prices over the last year.
To be sure, the White House has insisted that this is a temporary setback. In an item published to his social media platform on Sunday afternoon, the president argued after his latest golf outing, “Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!” (He was referring to an Iranian nuclear threat that he has claimed to have “obliterated” last summer.)
Fifteen years after the Fukushima nuclear disaster shook public confidence in atomic energy, Japan is gradually shifting back toward nuclear power, driven by energy security concerns, rising electricity demand and a younger generation more open to the technology.
Before the Fukushima disaster, resource-poor Japan was one of the world’s strongest supporters of nuclear power. The country operated 54 reactors, which supplied about 30 per cent of its electricity.
However, the 2011 disaster — the world’s worst nuclear accident since the Chornobyl disaster in 1986 — dramatically altered public opinion. All nuclear reactors in Japan were shut down for safety inspections and upgrades.
In 2012, the government decided to phase out nuclear power entirely, though that policy was reversed two years later.
Even so, reactor restarts have progressed slowly. Several reactors have been permanently retired, and only 15 of the 33 reactors still considered operable are currently back online.
Pro-nuclear push from Tokyo
Japan’s government is now pushing to accelerate the restart of reactors and invest in new nuclear technologies.
Prime Minister Sanae Takaichi, who strongly supports nuclear power, has argued that it is essential to reduce Japan’s dependence on expensive imported fossil fuels.
The restart of one reactor at the Kashiwazaki-Kariwa nuclear plant in January marked an important step. The facility is the largest nuclear power station in the world.
Recent geopolitical developments have also strengthened the argument for nuclear energy. The conflict in the Middle East — a region that supplies around 95 per cent of Japan’s oil — has raised concerns about the security of energy imports.
In addition, the rapid expansion of artificial intelligence data centres, which require vast amounts of electricity, is expected to significantly increase future power demand.
Public attitudes slowly changing
Public opinion on nuclear energy has gradually softened.
A survey by the Asahi newspaper last month found that 51 per cent of respondents support restarting reactors, compared with 28 per cent in 2013when polling on the issue began.
Support is strongest among younger Japanese. About 66 per cent of people aged 18 to 29 said they favour reactor restarts.
Technical schools and universities are also receiving government funding to train engineers in nuclear power generation, regulation and decommissioning.
However, Japan still faces a shortage of new specialists entering the field.
Only 177 students enrolled in nuclear-related courses in 2024, compared with 317 students before the Fukushima disaster and a peak of 673 in the early 1990s.
Memories of the crisis
For those who experienced the disaster firsthand, the memories remain vivid.
Seiji Inada, now a consultant with FGS Global, was part of the government’s crisis response team in 2011. He spent days in an underground command centre beneath the prime minister’s office in Tokyo coordinating the emergency response.
He recalls watching in shock as footage showed explosions at a reactor building.
Around 150,000 residents living near the Fukushima plant were evacuated. Many never returned to their homes.
During the crisis, authorities even assessed the possibility that a radioactive plume could reach Tokyo, one of the world’s largest cities.
“I remember during my short lunch break, I called my dad and told him: ‘I can't tell you any details, but prepare for the worst case scenario,’” Inada said.
A government inquiry later concluded that the disaster was largely “man-made,”blaming plant operator Tokyo Electric Power Company (TEPCO), regulators and the government for failing to establish adequate safety protocols.
Safer reactors and industry revival
Nuclear industry veteran Keiji Matsunaga, who works for Toshiba, says the industry has absorbed many lessons from Fukushima.
Since the disaster, engineers have redesigned reactors with enhanced safety features.
For example, reactor buildings in future plants would be built with reinforced steel and concrete roofs capable of withstanding aircraft impacts.
New designs would also rely on natural circulation cooling systems that can operate even if mechanical cooling systems fail, preventing overheating and potential meltdowns.
“These measures can help prevent events like Fukushima,” Matsunaga said.
The gradual restart of reactors is also reviving the business prospects of Japan’s nuclear engineering companies.
Young engineers, energy security concerns drive renewed support for nuclear
For students like Hashimoto, the industry’s revival offers both opportunity and responsibility.
Although he regularly encounters anti-nuclear protesters near his train station on the way to college, he believes nuclear power can play a role if properly managed.
“What matters is using nuclear power properly, having measures in place in case something happens, and developing technology to make sure accidents don't occur,” he said.
The damaged pedestal inside the No. 1 reactor at the Fukushima No. 1 nuclear power plant. (Provided by the International Research Institute for Nuclear Decommissioning and Hitachi GE Vernova Nuclear Energy Ltd.)
Experts can still only guess at what caused the mysterious damage to the support foundation of the No. 1 reactor at the crippled Fukushima No. 1 nuclear plant.
Photos in 2022 showed an exposed foundation devoid of concrete with only reinforcing bars holding up the reactor.
Extremely high radiation levels around the reactor make a closer human inspection impossible, so experts must rely on images taken by robotic probes to surmise what happened inside the reactor after the tsunami slammed into the nuclear plant in March 2011.
What puzzles experts is that the damage removed the concrete but left the steel bars unchanged. No remnants of the concrete were found at the foot of the foundation.
Members of a Nuclear Regulation Authority panel looking into the nuclear accident said such a result was never considered in dealing with accidents or reactor design.
According to scientific reports, a reactor core melts when fuel reaches 2,000 degrees and corrodes the base, taking the concrete and steel bars with it.
But in the case of the No. 1 reactor, concrete on the side wall of the core was removed, leaving behind the bars.
One hypothesis revolves around the 1-meter high metal plate placed around the center of the core wall. Concrete at the base had disappeared up to a height of 1 meter.
Experts believe the metal plate likely played a role in how heat was transmitted, how pressure was applied within the core as well as the movement of water.
The melted nuclear fuel that dropped to the core base reacted with the concrete to produce massive amounts of gas and a pumice-like shell, experts believe.
Tokyo Electric Power Co. was unable to send water to cool the reactor core for about 10 days, leaving the base wall exposed to the dry boil.
When water eventually reached the core interior, the concrete particles likely underwent a transformation, and the concrete dropped in powder form.
That powder may have been washed away by the water inserted to cool the nuclear fuel.
But there can be no confirmation of that hypothesis without examining samples from the core. The high radiation levels make that very difficult.
(This article was written by Keitaro Fukuchi and Senior Staff Writer Eisuke Sasaki.)
Indonesian nickel miner PT Vale Indonesia Tbk is accelerating the construction of its High-Pressure Acid Leach (HPAL) nickel smelter in Pomalaa, Sulawesi Tenggara. The company has disclosed that the project is now expected to commence operations in the third quarter of 2026, ahead of the previously scheduled fourth quarter.
Andaru Brahmono Adi, Head of Corporate Finance and Investor Relations at PT Vale Indonesia, stated in Jakarta recently that this world-class nickel processing facility is on track to begin production one quarter earlier than planned, thanks to the accelerated project execution by its partners. Upon completion, the plant will produce 120,000 tonnes of nickel per year in the form of Mixed Hydroxide Precipitate (MHP), a key component in the manufacturing of electric vehicle batteries.
Regarding construction progress, Andaru revealed that four out of the five planned production units have been installed. This achievement has strengthened the company's confidence in its partners' execution capabilities and laid a foundation for the project's continued stable advancement.
Meanwhile, mining activities at the Pomalaa site have also commenced. Andaru stated that following the approval of this year's Work Plan and Budget (RKAB), the company immediately began operations in the mining area. According to plans, the site is capable of producing 7 million tonnes (wet) of saprolite ore and 21 million tonnes (wet) of limonite ore annually. The accelerated progress of the Pomalaa project marks a strategic shift for PT Vale Indonesia as it transitions from a single-mine, single-smelter operator to a multi-mine operator.
Written by Cora Ji, jiruyan@mysteel.com
Aluminium Bahrain (Alba) has declared a force majeure on contracts, according to Reuters.
The halt in shipments comes after Iranian attacks in retaliation to US and Israeli strikes in the ongoing Middle East conflict.
The decision follows Norsk Hydro initiating a shutdown of its joint venture company, Qatalum, raising supply concerns.
Shipping through the Strait between Iran and Oman, which carries around one-fifth of oil consumed globally, has ground to a near halt after vessels in the area were hit with Iranian strikes.
“It’s because what’s happening in the Strait of Hormuz, we are not able to ship. So we’re producing, but the metal is here in Alba,” an Alba spokesperson stated to Reuters.
“The force majeure… is not due to any disruption or damage to the smelter facility,” the spokesperson added.
“The team is working intensively on identifying alternative shipping solutions to minimise the impact.”
More than 5 million metric tons of metal are shipped through the Hormuz Strait each year by smelters in Bahrain, Qatar, Saudi Arabia and the United Arab Emirates.
Bauxite and alumina travel other ways to feed the smelters.
Source: Reuters
https://aluminiumtoday.com/news/aluminium-bahrain-begins-to-halt-shipments
Oil prices and a resurgent U.S. dollar are impacting a whole host of sectors, commodities chief among them. This has copper miner Freeport-McMoRan Inc (NYSE:FCX) and steel stock Cleveland-Cliffs Inc (NYSE:CLF) extending their recent losses today.
FCX is down 5.3% to trade at $56.19 this morning, on track for its third-straight loss of roughly 5% or more. The shares have taken a 19.6% haircut off their Feb. 25 all-time high of $69.75, though support is stepping up at their 80-day moving average.
CLF is 6% lower to trade at $9.24 at last glance, bringing its year-to-date deficit up to more than 31%. The shares are poised to close below $10 for the first time since August.
Options traders have been pursuing CLF puts lately. The equity's 10-day put/call volume ratio of 1.01 over at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits higher than all other annual readings.
One thing to monitor going forward amid today's carnage is that both FCX and CLF are near "oversold" territory, per their 14-Day Relative Strength Indexes (RSI) of 35 and 36, respectively.
Chilwa Minerals (ASX: CHW) has confirmed the discovery of niobium mineralisation at the Mpyupyu target within its Lake Chilwa critical minerals project in southern Malawi.
The announcement follows the receipt of further ICP-MS (inductively-coupled plasma mass spectrometry) assays from two diamond holes completed at the south end of the target and complements significant total rare earth oxide (TREO) mineralisation reported from an initial hole late last year.
The identification of niobium has added a separate dimension to Chilwa’s project, alongside defined heavy mineral sands resources and the potential rare earth element and ionic clay rare earth element portfolio.
It is seen as reinforcing the Lake Chilwa basin as a globally-significant, multi-commodity critical minerals system.
Niobium-Enriched Intercepts
The nature and consistency of niobium grades at Mpyupyu confirmed the presence of a niobium-enriched intrusive phase over 120 metres (downhole thickness) in extent.
Best intercepts were 0.31% niobium pentoxide (1,661 parts per million TREO, 174ppm tantalum and 55ppm gallium) over 126.1m from 125m, and 0.38% niobium pentoxide (1,654ppm TREO, 225ppm tantalum and 61ppm gallium) over 62m from 138m including 0.45% over 10m (2,365ppm TREO, 317ppm tantalum and 64ppm gallium) from 190m.
TREO remain present and elevated throughout the drillholes but is considered to be subordinate to the niobium identified in a specific alkaline syenite intrusive phase in the south of the Mpyupyu system.
Chilwa reported a best recovered grade of 2,670ppm TREO over 5.6m from 98m downhole (0.17% niobium pentoxide, 88.7ppm tantalum and 57.32ppm gallium), and peak TREO grades of 3,682ppm over 1m from 98m downhole.
Multiple Critical Minerals
Managing director Cadell Buss said the discovery of niobium proved the company’s tenements are part of a mineralised system hosting multiple critical minerals.
“This discovery is another significant milestone in the evolution of our company—we essentially started with a conceptual target about six months ago, and are now moving through systematic follow-up drilling, albeit for niobium rather than REE,” he said.
“This is now a very different proposition, and we have taken the decision to fund additional drilling of this exciting development in order to identify the extent of mineralisation and focus on the definition of a niobium resource.”
Drilling at the Mpyupyu target has been ongoing since August with a total of eight holes completed to date over two thorium and uranium anomalies with support from soil geochemistry values.
https://smallcaps.com.au/article/chilwa-minerals-confirms-niobium-mineralisation-at-mpyupyu-target
Shares of aluminium producers have been on an upswing as global aluminium prices surged on supply concerns triggered by geopolitical tensions in West Asia, with stocks such as Vedanta Ltd, Hindalco Ltd and National Aluminium Company Ltd gaining despite broader weakness in the domestic equity markets.
Even though these stocks fell around 2-3 per cent on Monday, due to the overall weak sentiment in the market, Nalco rose 23.3 per cent year-to-date (YTD), Vedanta 17.7 per cent and Hindalco climbed 5.6 per cent, as against Nifty’s fall of 8.1 per cent and Sensex’s decline of 9 per cent. The Nifty Metal Index has gained over 4 per cent in 2026 so far.
LME value
Aluminium prices on the London Metal Exchange have climbed to multi-year highs amid rising concerns over supply disruptions across key production hubs. A key trigger was the controlled shutdown of an aluminium smelter in Qatar, operated as a joint venture between QatarEnergy and Norsk Hydro. The facility has an annual capacity of about 6.64 lakh tonnes, and its closure has heightened fears of tightening global supply chains, even as demand remains resilient. It will take at least six months to revive operations.
Indian producers are seen as relatively well positioned to benefit from the rally. Most domestic metal companies have strong backward integration and local sourcing of key inputs, enabling them to capture higher spreads when global commodity prices rise.
Analysts’ views
Vedanta, as India’s largest aluminium producer, is particularly sensitive to movements in global aluminium prices. Vedanta is also investing nearly ₹10,000 crore in expanding its aluminium business, including value-added capacity at Jharsuguda in Odisha, expansion at the BALCO smelter in Chhattisgarh, and ongoing capacity additions at Lanjigarh.
Brokerage CLSA said Vedanta is best placed to benefit from the rally given its diversified exposure across aluminium, zinc and oil. Hindalco is also expected to gain from higher aluminium prices, although analysts caution that rising gas costs and potential pressure on spreads due to disruptions in scrap exports from West Asia could cap the upside.
Brokerages remain divided on Hindalco, with Axis Direct and ICICI Direct maintaining a ‘Hold’ rating, while Motilal Oswal Financial Services has a ‘Buy’ call. Geojit BNP Paribas has also reiterated a ‘Buy’ rating on Vedanta in its latest report.
Aluminium Bahrain has declared force majeure due to shipping disruptions in the Strait of Hormuz, while Qatalum has announced a controlled shutdown after gas supplies were suspended. Brokerage Antique Stock Broking maintained a ‘Buy’ rating on Nalco, with a target price of ₹420.
Analysts, however, note that while global supply disruptions are pushing up aluminium prices, the direct impact of the West Asia conflict on India’s coal or aluminium availability is likely to remain limited.
Published on March 9, 2026
PERTH, Australia, March 9, 2026 /PRNewswire/ -- Pela Global Limited ("PELA" or "the Company") is pleased to announce that, following a rigorous application and approval process, the Company has executed a Project Development Funding Agreement (Agreement) with the U.S. International Development Finance Corporation (DFC). The Agreement provides up to US$5 million in project development funding to support and advance PELA's flagship Krstov Dol Antimony Mine Restart Project (KDM) in North Macedonia.
The funding represents a significant milestone in PELA's strategy to become a near-term supplier of critical minerals to allied markets. The Agreement provides funding support for defined project development activities at KDM, including the preparation of a Mineral Resource Estimate to be reported in accordance with the JORC Code, completion of an Environmental and Social Impact Assessment, and progression of the project toward feasibility.
The project is underpinned by historical mining activity and a substantial body of historical geological and technical data, including historical mineral resource and reserve estimates prepared and approved under the former Yugoslav reporting system.
About Pela Global Limited
Pela Global Limited is an Australian critical and precious metals company focused on the responsible development of mineral resources across Southeastern Europe's Tethyan Metallogenic Belt. Its key assets include:
Krstov Dol Antimony Project (North Macedonia) – An advanced-stage project aiming to produce high-grade antimony concentrate from a historically producing site, strategically positioned to support Western critical minerals supply objectives.
Samar Gold Project (North Macedonia) – A high-grade polymetallic system with confirmed gold, silver, lead, zinc, and copper mineralisation, offering strong exploration and development potential.
Pela's board of directors is pleased to advise that it is currently considering the opportunity to undertake an initial public offering of its shares (IPO) in support of an application for admission to an Australian securities exchange.
If the board determines to proceed with an IPO, Pela will make available a prospectus with the full terms and other details of the IPO. While there is no guarantee that the IPO will necessarily proceed, the Company will look to provide updates in this regard on its website and/or by email.
For more information, visit www.pelaglobal.com.
https://sg.finance.yahoo.com/news/pela-executes-us-5-million-133000230.html
African Rainbow Minerals (ARM) said that a consortium of South African manganese miners will bid to build and operate a new export port for the mineral at Ngqura in Eastern Cape province.
ARM, whose unit Assmang is a member of the Manganese Producers Consortium (MPC), said private companies were keen to partner with state-owned Transnet on the project, which is expected to add 16 million metric tonnes of manganese export capacity and improve logistics.
"The MPC intends to bid for the request for quotation with Transnet as a joint-venture partner for the design, build, construction and operator of the new manganese ore export port at Ngqura, namely the Ngqura Manganese Ore Export Terminal," ARM said in a results statement.
Transnet has said it will invite bids for the Ngqura manganese export terminal around April.
The freight rail and port operator is opening parts of its network to private firms to help restore capacity that has slumped in recent years, throttling mineral exports.
Manganese miners would be keen on operating both the rail line and port, Maryke Burger, CEO of ARM's ferrous division, told a results call.
"An integrated system would be the optimal (one). We will see if rail is included when the request for quotation proposal comes out," Burger said.
South Africa holds about 70% of the world's manganese resources and is the top producer of the mineral, which is mainly used in steelmaking. Exports go mostly to China, the world's biggest steelmaker.
The country is estimated to have exported about 26.2 million tonnes of manganese in 2025, a record, after the previous peak of 22.3 million tonnes in 2024, according to the Minerals Council South Africa.
ARM's manganese ore operations reported a 76% decline in headline earnings, hit by a 22% drop in the average dollar price for high-grade ore.
The diversified miner's profit rose 10% to R1.67bn in the six months to 31 December, as higher platinum group metal prices offset lower income from manganese, iron ore and its loss-making coal division.
The company has issued a retrenchment notice under Section 189 of South Africa’s Labour Relations Act, beginning a formal consultation process that could lead to layoffs across its smelting operations and corporate offices according to a report by Mining Weekly.
Samancor employs about 2,403 people across its smelters and head office, meaning the restructuring could affect nearly its entire workforce.
The potential job cuts would impact six smelting operations: Dikwena Chrome, Ferrometals, Middelburg Ferrochrome, TC Smelter, Tubatse Alloy, and Tubatse Ferrochrome, in addition to corporate offices.
According to the company, every position - from entry-level to senior staff, could potentially be affected as it attempts to restructure the business.
Samancor said it has taken a provisional view that reducing its workforce may be necessary to lower costs and secure the company’s long-term viability.
The firm cited unsustainable operational expenses, particularly the cost of running energy-intensive smelters that have not been operating at full capacity over the past year.
One of the biggest challenges facing South Africa’s ferrochrome sector is the rising cost of electricity, which is critical for operating smelting furnaces.
Power tariffs from state utility Eskom have surged over the past decade, making energy-intensive industries increasingly difficult to run profitably.
The company said it had already implemented several cost-cutting measures to avoid layoffs, including terminating contractors, freezing wage increases for some employees, suspending performance bonuses, limiting overtime, and halting certain training programmes.
South Africa’s industrial sector is also facing mounting global pressures. Recent U.S. tariff increases on steel and related metals under President Donald Trump have complicated trade for exporters and intensified competition in global markets.
While ferrochrome itself is not always directly targeted, the broader disruption to steel supply chains has added uncertainty for companies linked to the sector.
These pressures are being felt across multiple industries in South Africa, where manufacturers, mining firms, and metal processors are increasingly shutting down operations or scaling back production.
High energy costs, weaker global demand, and trade tensions are combining to squeeze margins in one of Africa’s most industrialized economies.
European domestic hot-rolled coil prices firmed in the week to Friday March 6 amid tight import supply and mills’ strong order books.
The escalation of the conflict between Iran and the US almost immediately resulted in higher energy costs and increased freight and insurance rates, and led to partial re-routing of marine traffic from the Suez Canal to the Cape of Good Hope, which extended cargo delivery times by at least two weeks.
This had an additional negative effect on imports, which were already hampered by the introduction of the Carbon Border Adjustment Mechanism (CBAM) earlier this year.
Sources in Northern Europe said tradeable levels for local hot-rolled coil had moved to €700 ($812.35) per tonne ex-works and above, with mainly May-delivery material now available.
Earlier this week Fastmarkets heard about several cargoes changing hands within the range of €700-710 per tonne ex-works.
A few sources, however, still considered €685 per tonne ex-works to be tradeable.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe was assessed at €700.00 per tonne on March 6, down slightly by €0.63 per tonne from €700.63 per tonne on March 5.
The index was up by €13.93 per tonne week on week and by €43.75 per tonne month on month.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy was €680.83 per tonne on March 6, up by €0.83 per tonne from €680.00 per tonne on March 5.
The index was also up by €10.20 per tonne week on week and by €32.91 per tonne month on month.
Suppliers said April-delivery cargoes were unavailable and that May volumes were being gradually offered, with €700 per tonne indicated as the desired level. Estimates of workable prices remained around €680 per tonne ex-works.
Central European domestic steel hot-rolled coil prices also moved upward amid mounting concerns linked to the conflict in the Middle East, Fastmarkets heard.
“With the situation in Iran it is difficult to predict what will happen and whether this will lead to tensions in the market,” a source said.
Fastmarkets’ weekly price assessment for steel hot-rolled coil domestic, exw Central Europe was €670-700 per tonne on Wednesday, rising from €665-690 per tonne in the previous assessment period.
The increase was supported by higher offers heard at €685-700 per tonne ex-works, while transactions were heard at €670-690 per tonne ex-works.
https://eurometal.net/tight-import-supply-healthy-order-books-help-european-hrc-steel-prices-firm/
