IRON and STEEL
Scrap & Recycling
Hydro has received the sustainability award from the Luxembourg business federation FEDIL. Hydro aluminium recycling facility in Clervaux, Luxembourg has won a national business and industry award for outstanding performance in environment and climate protection.
Carole Dieschbourg, Luxembourg Minister for Environment, Climate and Sustainable Development has presented the award to Hydro. The national award highlighted the aluminium facility’s production of low-carbon aluminium.
“The minister emphasized that Clervaux’s efforts, especially with production of CIRCAL 75R aluminium extrusion ingot, which is guaranteed to contain at least 75% post-consumer, recycled aluminium, fit perfectly with the country’s priority to develop a circular economy and deliver on climate issues,” according to Hydro press release.
CIRCAL and REDUXA, Hydro’s extrusion ingot with a guaranteed maximum carbon footprint of 4kg of CO2 per 1kg of aluminium produced, are part of the company’s efforts to reduce climate emissions and increase aluminium recycling.
Iranian acting banks are authorized to offer up to $3 billion of loans to the oil industry’s upstream sector, according to the country’s budget bill for the next calendar year (starts on March 19, 2020), IRNA reported.
Head of National Iranian Gas Company (NIGC) said his company is seriously pursuing a plan for indigenizing all the technology and equipment needed in the country’s gas industry within the next five years, IRIB reported on Monday.
Senior business officials of Iran and Oman, in a meeting in Tehran, pledged to meet the target of $5 billion in bilateral trade per annum by 2020, and exchanged views on avenues to fulfill the objective.
Despite the continuous drop in sales of electrified vehicles after the subsidy cut in June, Beijing continued its push on the automakers towards building more electric vehicles. The message was conveyed in the draft “development” plan of the Ministry of Industry and Information Technology for the domestic electrified vehicle industry covering 2021-35.
Oil gained on Wednesday ahead of meetings this week where OPEC and its allies are expected to extend production curbs to support the market, while industry data showing that US crude stockpiles fell more than expected helped to lift prices, Reuters reported.
Iranian Minister of Industry, Mining and Trade Reza Rahmani announced that Tehran and Bishkek have decided to increase the value of their trade exchanges up to $500mln.