Chase
Regular
100% agree Lipol
AVZ Discussion 2022
- Thread starter GazDix
- Start date
CashKing
Regular
What the actual fuck are these clowns trying to do ???
Delay & Steal ??
Delay & DRC Takes back the project ?
Delay & AVZ Runs out of $$$ CHEAP TO ?
Delay & FUCK EVERYONE OFF ???
Delay & Be Cunts so no one invests in the DRC ??
Delay & Hope the Absolute Internal Corruption Goes Away ???
Delay & Pay ICC For all of the above ????
What the ACTUAL FUCK…
How about instead of delaying this BS Rollercoaster corrupt BS SHITHOLE Just PAY you little thieving FUCKS….
Felix should be ashamed / embarrassed / corrupted IMO…
GLTAH
Last edited:
Faked by who and for what purpose?
Delay until AVZ runs out of money and steal for nothing or get for the absolute lowest price.
Frank
Top 20
*Meanwhile in other News of the Kiki kind, I see where he's going after those thieving corrupt bastards again, this time for
Illegal logging of endangered trees by Chinese; from €20 in the DRC, the m³ is sold at €1,100/2,000 in the West and Asia
This investigation, which went almost unnoticed by the Congolese, demonstrates the way in which the DR Congo and its people are exploited, not only in the mining field, but in particular in the exploitation of its forests and others, by foreign companies in complicity with the country authorities.
Reading the testimonies of this investigation, one might think that the time of the exploitation of the sadistic King Leopold II of Belgium, cutting off the hands of the natives for not having respected the quota of rubber harvested, nor the abuse suffered by the Congolese in the mines to extract copper under colonization, is not yet over for the poor Congolese people.
Who still live under the slavery of foreigners and exploitation by an elite, which is none other than their own Congolese brothers.
It is an investigation by Planeta Futuro and the Spanish media, El País which reveals the illegal extraction of endangered tree species, published in June 2022 by Mongabay.
This survey, so important for the DR Congo and for the defense of global biodiversity, does not seem to have had much impact and echo in the DR Congo and even internationally.
This is the reason for our publication today, in order to alert the Congolese population and their authorities to the risk of their forests, which remain a heritage of humanity.
Companies almost all owned by Chinese citizens, who exploit Afrormosia in northern DR Congo, a rare and endangered species of wood due to its high demand on the international market.
Using irregular permits for exploitation and export, falsifying the calculations of export quotas, in defiance of Congolese law, in complicity with local and national authorities, their companies are even secured by soldiers from the army, Congolese and the national police.
These foreigners shamelessly violate the rights of labour, local communities and biodiversity and ecosystems vital to the global climate.
They are the ones who decide how, how much and above all when to pay certain taxes, but even more so the non-payment of taxes on income and pollution.
FULL WOOD SURVEY (Planeta Futuro/El País)
BASOKO, DRC (May 16, 2022) – In Yaliwasa, northern DRC, 200-year-old precious woods are rotting in the heart of the world's second largest rainforest.
They were hastily slaughtered for export to processing centers in China, then redistributed to high-end markets in Asia and other continents and yet, the wood is falling apart and large orange mushrooms are growing on the logs.
Some logs are unmarked, but all belong to Fodeco, a Chinese company with no experience in industrial logging that in 2015 was awarded a concession area more than three times the size of New York City. The company came into conflict with local communities over offsets and these have since prevented the timber from being removed.
"Other [Chinese] companies pay police or military to protect their interests, but we can't afford it because we can't [evacuate and] sell our timber," says concession manager , Liga Guo. He refers to his former employer, Maniema Union, which obtained illegal concessions through a Congolese general sanctioned by the European Union (EU) and the United States for human rights violations.
“I just want to get the logs out, ship the lumber and get the hell out of here. But it's impossible to work like that. I left China to make a living, but this job is going to kill me,” he says while carrying dozens of boxes of deworming medication to the prefab container he lives in.
Fodeco is the holder of one of 18 contracts that several consecutive ministers have granted, in violation of the moratorium on new industrial logging concessions in force for two decades.
“A pure and simple sale of forest concessions”, according to a report by Congolese finance inspectors.
This document was only published in April after months of pressure from NGOs and international media.
Downriver, a Hong Kong-registered subsidiary of Booming Group is also logging endangered trees in violation of Congolese law, while Xiang Jiang Mining has been illegally mining valuable and strategic minerals for more than a year.
A Planeta Futuro/EL PAÍS investigation has proven that Chinese-owned companies are illegally extracting natural resources from the rainforests of northern DRC: by working with convenience logging permits; by extracting and exporting endangered species and minerals in defiance of Congolese law; and by violating labor and human rights with the complicity of certain individuals in power—authorities who trade in Congolese forests to the detriment of communities, biodiversity, and ecosystems vital to the global climate.
Logging permit on request
The European Union (EU), the United Kingdom, Norway and nine other donors are keeping tabs on the DRC.
Especially after pledging $500 million for the conservation of Congo's rainforest at the UN climate summit (COP26).
The first condition of the agreement was that the Congolese government publish the audit of forest concessions that its finance inspectorate had finalized in May 2020.
The document finally saw the light of day in April 2021, and the Minister of the Environment pledged to suspend until further notice the companies that the document accused of offenses and non-payment of taxes.
The suspension order was issued, but Fodeco was not on the list.
In January 2020, internal reports to which this investigation had access already warned of violations committed by Fodeco: presentation of false quarterly logging declarations, destruction of plants with heavy machinery and lack of a mandatory management plan.
Corruption
This investigation also made it possible to obtain a declaration dating from December 2020 in which the company admits to having dealt with the authorities to reduce the payment of certain taxes, and the non-payment of taxes on income and pollution.
Fodeco also requested an annual operating permit with inventories of “imaginary” trees, which was however approved by the then Minister of the Environment, Amy Ambatobe Nyongole.
“In the DRC, you can buy any document, any proof of legality; the administrations are machines for legalizing”, explains an international expert, who speaks on condition of anonymity because he is taking part in a mission to support the Congolese authorities in terms of forest governance.
Documents obtained by this investigation show that Fodeco obtained logging permits authorizing it to extract 2,885 feet of Afrormosia (Pericopsis elata) between 2018 and 2019.
Northern DRC is home to the world's largest populations of this endangered hardwood species, a tree that can reach a height of 15 stories and takes between 120 and 200 years to reach felling diameter.
International demand has already led to the extinction of this tree in several West African countries, and its exports are now regulated by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES ) through a system of quotas and export certificates.
Fodeco was authorized to harvest this wood, dubbed “African Teak” based on a fictitious inventory.
As the species was on the paper, but not in the corresponding cutting area, the company went to find the wood where it was: beyond the authorized limits and without taking into account the communities that depend on the forest for their survival.
This investigation revealed that the company had also purchased Afrormosia from artisanal miners without a permit, and that the judicial police reported the seizure of 500 pieces.
Samuel Ekomba (not his real name) is one of the informal loggers who collected the valuable timber for the company.
Ekomba paid the ancestral owners of the forest US$20 per tree, and sold the sawn product to Fodeco at a price 30% below the local price of US$245 per cubic meter.
In Europe, this wood appreciated for its yellow-brown color and its incredible resistance is used to make high-end accessories and furniture.
Its price is between 1,100 and 2,000 € per cubic meter.
“I have been logging without a permit for ten years,” says Ekomba.
"I was hoping that Fodeco would give me the money to get myself in order and be able to work for them legally, but I'm still at the starting point."
Some of the wood he sold to Fodeco still sits on the company's premises, blackening over time in a shipping container that never reached the sea.
A rich land, poor people
"These people [from Fodeco] came here without experience and without a translator, so they can hardly communicate with anyone," says a Congolese employee with years of experience in the industrial wood sector, who asks to remain anonymous for fear of reprisals.
“We wonder how they got permission to start this activity,” he adds, pointing to piles of rotting logs from century-old trees.
This man lost a finger while working in the forest, but never received any compensation or medical treatment other than first aid.
Congolese law obliges companies to hire their workers after three months, but three years later this man and his colleagues, who left their families in Kinshasa to join Fodeco, are still employed as day laborers at three dollars a day.
A day laborer shows the hand of which he lost a finger during a work accident
In the remote Yawinawina region, former local Fodeco employees walk towards a clearing in the forest, pointing to the flimsy stick huts where they had to sleep during logging operations.
However, the Forest Code of the DRC imposes to equip these camps with adequate housing, drinking water and sanitary facilities.
“Half a cup of rice a day, sleeping on the floor, without mosquito nets, without a contract, without a dispensary? Are we beasts? laments Joseph Atuku.
"We had high hopes that it would be good for us, good for the community."
The company operates in the territory of Basoko, a swampy area where there are five industrial logging concessions, one of the largest palm oil plantations in the region and a mining company that operates 24 hours a day, seven days out of seven.
Natural resources attract investors from China, Europe, South Africa and the United States, and investment networks registered in secretive jurisdictions such as Liechtenstein, Mauritius, the Cayman Islands and the Delaware.
But this influx of funds does not impact the standard of living of communities in the region, where one in three children suffers from chronic malnutrition.
On the banks of the river, children with orange hair, a symptom of a serious protein deficiency, unwittingly bathe in fields of diamonds, in the shade of trees with precious woods costing thousands of dollars in the markets. international.
Jean Francis Ilinga Mokonzi is a traditional chief with a leopard headdress, a necklace of 40 tusks, each piece representing a village, and a law degree: “Our ancestral forest is being plundered with the complicity of our own authorities.
The government talks a lot about climate change, but the forest administration is corrupt to the bone.”
International trade in endangered species
Across the river, the Chinese company Booming Green controls more than a million hectares of rainforest.
The logging giant, which also works in Liberia, won five concessions in 2017, violating the moratorium on new industrial logging operations.
Congolese inspectors also accuse him of owing $2.5 million to the public treasury in acquisition costs and taxes.
Yet their concession numbers are also not included in the suspension order issued by the Ministry of the Environment.
This investigation had access to a logging permit from Booming Green.
The document shows that in January 2021, outgoing environment minister Claude Nyamugabo authorized the company to harvest 91,455 cubic meters of Afrormosia, nearly double the approved CITES export quota for the entire country in 2020.
This volume also represents 93% of the CITES export quota for 2021, a figure which was only published towards the end of the year.
A large part of the production is exported the year following the exploitation.
This means that at present the bulk of Congolese Afrormosia exports are in the hands of a company that is breaking a two-decade-old moratorium.
This annual permit authorizes the cutting of one million cubic meters per season, although the DRC has never officially exported more than 400,000 cubic meters.
In addition, he cites the Moabi (Baillonella toxisperma) which does not exist in the area, and there is no correspondence between the number of trees and the volumes of wood he authorizes to extract, even for the endangered species Mukulungu (Autranella congolensis).
"This kind of permit sells for gold", explains the international expert who works on improving forest governance in the DRC.
“Dealers could use them to launder timber purchased anywhere in the country, to pass one species off as another, and to fraudulently export endangered trees.”
Meanwhile, timber shipments from Booming Green have continued to leave the port of Matadi for destinations such as Jinjiang in China, a global timber processing hub.
Neither Booming Green nor Fodeco responded to email requests for comment.
Survey by Planeta Futuro and El Paí, published in June 2022 by Mongabay.
juin 21, 2023 - Kiki Kienge
Illegal logging of endangered trees by Chinese; from €20 in the DRC, the m³ is sold at €1,100/2,000 in the West and Asia
This investigation, which went almost unnoticed by the Congolese, demonstrates the way in which the DR Congo and its people are exploited, not only in the mining field, but in particular in the exploitation of its forests and others, by foreign companies in complicity with the country authorities.
Reading the testimonies of this investigation, one might think that the time of the exploitation of the sadistic King Leopold II of Belgium, cutting off the hands of the natives for not having respected the quota of rubber harvested, nor the abuse suffered by the Congolese in the mines to extract copper under colonization, is not yet over for the poor Congolese people.
Who still live under the slavery of foreigners and exploitation by an elite, which is none other than their own Congolese brothers.
It is an investigation by Planeta Futuro and the Spanish media, El País which reveals the illegal extraction of endangered tree species, published in June 2022 by Mongabay.
This survey, so important for the DR Congo and for the defense of global biodiversity, does not seem to have had much impact and echo in the DR Congo and even internationally.
This is the reason for our publication today, in order to alert the Congolese population and their authorities to the risk of their forests, which remain a heritage of humanity.
Companies almost all owned by Chinese citizens, who exploit Afrormosia in northern DR Congo, a rare and endangered species of wood due to its high demand on the international market.
Using irregular permits for exploitation and export, falsifying the calculations of export quotas, in defiance of Congolese law, in complicity with local and national authorities, their companies are even secured by soldiers from the army, Congolese and the national police.
These foreigners shamelessly violate the rights of labour, local communities and biodiversity and ecosystems vital to the global climate.
They are the ones who decide how, how much and above all when to pay certain taxes, but even more so the non-payment of taxes on income and pollution.
FULL WOOD SURVEY (Planeta Futuro/El País)
BASOKO, DRC (May 16, 2022) – In Yaliwasa, northern DRC, 200-year-old precious woods are rotting in the heart of the world's second largest rainforest.
They were hastily slaughtered for export to processing centers in China, then redistributed to high-end markets in Asia and other continents and yet, the wood is falling apart and large orange mushrooms are growing on the logs.
Some logs are unmarked, but all belong to Fodeco, a Chinese company with no experience in industrial logging that in 2015 was awarded a concession area more than three times the size of New York City. The company came into conflict with local communities over offsets and these have since prevented the timber from being removed.
"Other [Chinese] companies pay police or military to protect their interests, but we can't afford it because we can't [evacuate and] sell our timber," says concession manager , Liga Guo. He refers to his former employer, Maniema Union, which obtained illegal concessions through a Congolese general sanctioned by the European Union (EU) and the United States for human rights violations.
“I just want to get the logs out, ship the lumber and get the hell out of here. But it's impossible to work like that. I left China to make a living, but this job is going to kill me,” he says while carrying dozens of boxes of deworming medication to the prefab container he lives in.
Fodeco is the holder of one of 18 contracts that several consecutive ministers have granted, in violation of the moratorium on new industrial logging concessions in force for two decades.
“A pure and simple sale of forest concessions”, according to a report by Congolese finance inspectors.
This document was only published in April after months of pressure from NGOs and international media.
Downriver, a Hong Kong-registered subsidiary of Booming Group is also logging endangered trees in violation of Congolese law, while Xiang Jiang Mining has been illegally mining valuable and strategic minerals for more than a year.
A Planeta Futuro/EL PAÍS investigation has proven that Chinese-owned companies are illegally extracting natural resources from the rainforests of northern DRC: by working with convenience logging permits; by extracting and exporting endangered species and minerals in defiance of Congolese law; and by violating labor and human rights with the complicity of certain individuals in power—authorities who trade in Congolese forests to the detriment of communities, biodiversity, and ecosystems vital to the global climate.
Logging permit on request
The European Union (EU), the United Kingdom, Norway and nine other donors are keeping tabs on the DRC.
Especially after pledging $500 million for the conservation of Congo's rainforest at the UN climate summit (COP26).
The first condition of the agreement was that the Congolese government publish the audit of forest concessions that its finance inspectorate had finalized in May 2020.
The document finally saw the light of day in April 2021, and the Minister of the Environment pledged to suspend until further notice the companies that the document accused of offenses and non-payment of taxes.
The suspension order was issued, but Fodeco was not on the list.
In January 2020, internal reports to which this investigation had access already warned of violations committed by Fodeco: presentation of false quarterly logging declarations, destruction of plants with heavy machinery and lack of a mandatory management plan.
Corruption
This investigation also made it possible to obtain a declaration dating from December 2020 in which the company admits to having dealt with the authorities to reduce the payment of certain taxes, and the non-payment of taxes on income and pollution.
Fodeco also requested an annual operating permit with inventories of “imaginary” trees, which was however approved by the then Minister of the Environment, Amy Ambatobe Nyongole.
“In the DRC, you can buy any document, any proof of legality; the administrations are machines for legalizing”, explains an international expert, who speaks on condition of anonymity because he is taking part in a mission to support the Congolese authorities in terms of forest governance.
Documents obtained by this investigation show that Fodeco obtained logging permits authorizing it to extract 2,885 feet of Afrormosia (Pericopsis elata) between 2018 and 2019.
Northern DRC is home to the world's largest populations of this endangered hardwood species, a tree that can reach a height of 15 stories and takes between 120 and 200 years to reach felling diameter.
International demand has already led to the extinction of this tree in several West African countries, and its exports are now regulated by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES ) through a system of quotas and export certificates.
Fodeco was authorized to harvest this wood, dubbed “African Teak” based on a fictitious inventory.
As the species was on the paper, but not in the corresponding cutting area, the company went to find the wood where it was: beyond the authorized limits and without taking into account the communities that depend on the forest for their survival.
This investigation revealed that the company had also purchased Afrormosia from artisanal miners without a permit, and that the judicial police reported the seizure of 500 pieces.
Samuel Ekomba (not his real name) is one of the informal loggers who collected the valuable timber for the company.
Ekomba paid the ancestral owners of the forest US$20 per tree, and sold the sawn product to Fodeco at a price 30% below the local price of US$245 per cubic meter.
In Europe, this wood appreciated for its yellow-brown color and its incredible resistance is used to make high-end accessories and furniture.
Its price is between 1,100 and 2,000 € per cubic meter.
“I have been logging without a permit for ten years,” says Ekomba.
"I was hoping that Fodeco would give me the money to get myself in order and be able to work for them legally, but I'm still at the starting point."
Some of the wood he sold to Fodeco still sits on the company's premises, blackening over time in a shipping container that never reached the sea.
A rich land, poor people
"These people [from Fodeco] came here without experience and without a translator, so they can hardly communicate with anyone," says a Congolese employee with years of experience in the industrial wood sector, who asks to remain anonymous for fear of reprisals.
“We wonder how they got permission to start this activity,” he adds, pointing to piles of rotting logs from century-old trees.
This man lost a finger while working in the forest, but never received any compensation or medical treatment other than first aid.
Congolese law obliges companies to hire their workers after three months, but three years later this man and his colleagues, who left their families in Kinshasa to join Fodeco, are still employed as day laborers at three dollars a day.
A day laborer shows the hand of which he lost a finger during a work accident
In the remote Yawinawina region, former local Fodeco employees walk towards a clearing in the forest, pointing to the flimsy stick huts where they had to sleep during logging operations.
However, the Forest Code of the DRC imposes to equip these camps with adequate housing, drinking water and sanitary facilities.
“Half a cup of rice a day, sleeping on the floor, without mosquito nets, without a contract, without a dispensary? Are we beasts? laments Joseph Atuku.
"We had high hopes that it would be good for us, good for the community."
The company operates in the territory of Basoko, a swampy area where there are five industrial logging concessions, one of the largest palm oil plantations in the region and a mining company that operates 24 hours a day, seven days out of seven.
Natural resources attract investors from China, Europe, South Africa and the United States, and investment networks registered in secretive jurisdictions such as Liechtenstein, Mauritius, the Cayman Islands and the Delaware.
But this influx of funds does not impact the standard of living of communities in the region, where one in three children suffers from chronic malnutrition.
On the banks of the river, children with orange hair, a symptom of a serious protein deficiency, unwittingly bathe in fields of diamonds, in the shade of trees with precious woods costing thousands of dollars in the markets. international.
Jean Francis Ilinga Mokonzi is a traditional chief with a leopard headdress, a necklace of 40 tusks, each piece representing a village, and a law degree: “Our ancestral forest is being plundered with the complicity of our own authorities.
The government talks a lot about climate change, but the forest administration is corrupt to the bone.”
International trade in endangered species
Across the river, the Chinese company Booming Green controls more than a million hectares of rainforest.
The logging giant, which also works in Liberia, won five concessions in 2017, violating the moratorium on new industrial logging operations.
Congolese inspectors also accuse him of owing $2.5 million to the public treasury in acquisition costs and taxes.
Yet their concession numbers are also not included in the suspension order issued by the Ministry of the Environment.
This investigation had access to a logging permit from Booming Green.
The document shows that in January 2021, outgoing environment minister Claude Nyamugabo authorized the company to harvest 91,455 cubic meters of Afrormosia, nearly double the approved CITES export quota for the entire country in 2020.
This volume also represents 93% of the CITES export quota for 2021, a figure which was only published towards the end of the year.
A large part of the production is exported the year following the exploitation.
This means that at present the bulk of Congolese Afrormosia exports are in the hands of a company that is breaking a two-decade-old moratorium.
This annual permit authorizes the cutting of one million cubic meters per season, although the DRC has never officially exported more than 400,000 cubic meters.
In addition, he cites the Moabi (Baillonella toxisperma) which does not exist in the area, and there is no correspondence between the number of trees and the volumes of wood he authorizes to extract, even for the endangered species Mukulungu (Autranella congolensis).
"This kind of permit sells for gold", explains the international expert who works on improving forest governance in the DRC.
“Dealers could use them to launder timber purchased anywhere in the country, to pass one species off as another, and to fraudulently export endangered trees.”
Meanwhile, timber shipments from Booming Green have continued to leave the port of Matadi for destinations such as Jinjiang in China, a global timber processing hub.
Neither Booming Green nor Fodeco responded to email requests for comment.
Survey by Planeta Futuro and El Paí, published in June 2022 by Mongabay.
juin 21, 2023 - Kiki Kienge
EV Enthusiast
Member
From oil to lithium: How Saudi Arabia is building a battery supply chain | Benchmark Source
Saudi Arabia is a step closer to becoming part of the global battery industry after deals to develop lithium processing and anode material projects in the country. The deals could make Saudi Arabia’s lithium ion supply chain the most developed in the Middle East, which right now has virtually...
source.benchmarkminerals.com
From oil to lithium: How Saudi Arabia is building a battery supply chain | Benchmark Source
Saudi Arabia is a step closer to becoming part of the global battery industry after deals to develop lithium processing and anode material projects in the country. The deals could make Saudi Arabia’s lithium ion supply chain the most developed in the Middle East, which right now has virtually...
From oil to lithium: How Saudi Arabia is building a battery supply chain
Saudi Arabia is a step closer to becoming part of the global battery industry after deals to develop lithium processing and anode material projects in the country.The deals could make Saudi Arabia’s lithium ion supply chain the most developed in the Middle East, which right now has virtually no battery material capacity.
Saudi Arabia’s ambitions for an electric vehicle supply chain are part of its push to diversify the national economy away from oil, a project guided by the government’s Vision 2030 reform plan announced in 2016.
Although the Saudi government has been investing into the EV sector since 2018, its midstream and upstream segments are still in their early stages.
The Saudi advantage lies in relatively low reagent costs and government incentives like tax, land, and capital support, said Benchmark consultant Ahmed Mehdi.
Still, a challenge will be sourcing enough technical labour for complex parts of the value chain, he said. In addition, the plants will have to secure raw material feedstocks from globally competitive markets.
Lithium processing
This month Australian startup European Lithium and Saudi Arabia’s Obeikan Investment Group announced an agreement to create a joint venture to build and operate a lithium hydroxide refinery in Saudi Arabia.European Lithium said the Saudi processing plant will process spodumene from a mine that the company is developing in Wolfsberg, Austria.
It will sell the lithium spodumene concentrate to the JV at a “reduced rate” with a floor price of $3,000 a tonne and a ceiling price of $7,000 a tonne over the life of the current resource of the Wolfsberg mine. Spodumene prices are currently around $3,650 a tonne, according to Benchmark’s Lithium Price Assessment.
The mine is set to produce 3,610 tonnes (LCE) of lithium per year by 2030, as assessed by Benchmark.
European Lithium said the facility would be developed to “meet the minimum initial capacity and product specifications” to supply BMW.
In 2021, Saudi Arabia became the first Middle Eastern country to establish pipeline capacity in lithium processing by signing an agreement with EV Metals Groups to build a battery chemicals complex in Yanbu Industrial City.
The site could produce 18,050 tonnes of lithium hydroxide by 2030, according to Benchmark’s Lithium Forecast. The project was allocated 123 hectares of land this year as well as energy by the Saudi government.
First anode plant in the Middle East
Saudi Arabia is also developing its anode industry, where it may have a natural competitive advantage.Earlier this year startup Novonix announced a joint venture deal to build a 30,000 tonne capacity graphite anode materials facility with TAQAT Development, a Saudi energy company. Novonix will own 40% of the JV, and TAQAT the remainder.
It will supply EV and energy storage systems (ESS) markets in the Middle East and North Africa region.
Construction is scheduled to begin in 2024 although the precise location has not yet been announced.
A key advantage for the project will be sourcing precursor material from within Saudi Arabia, in the form of petroleum needle coke.
First pet needle coke project in Saudi Arabia
In May, TAQAT Development announced a deal with Chevron Lummus Global to build a 75,000 tonne per annum nameplate capacity pet needle coke plant, with a graphitisation facility to produce synthetic graphite in Rabigh.TAQAT will use proprietary needle coke technology from Chevron Lummus, an oil refinery technology joint venture between oil major Chevron and refinery technology developer Lummus Technology.
Rabigh Refining & Petrochemical Company will supply feedstock in the form of decant oil.
Benchmark analyst Mehdi says needle coke is a promising venture for Saudi Arabia, as it will benefit from its established ecosystem for making other chemicals.
“Saudi has a lot of decant oil feedstock for needle coke production and given chemical hub of Kingdom, could see interest from other players such as petrochemical players who see battery chemical market as a good hedge to volatile petchem margins,” he said.
Saudi’s EV push
As well as markets in the Middle East, North Africa and Europe, the new facilities will likely sell to Saudi Arabia’s own EV manufacturing industry.Saudi Arabia’s EV manufacturing sector began to emerge in 2022 when Lucid Motors, a Californian automaker backed by the Saudi sovereign wealth fund, announced it would build its first ex-US factory in the Kingdom. The same year saw the launch of the first Saudi EV brand Ceer, another beneficiary of the government’s sovereign wealth fund.
This month Saudi Arabia also signed a $5.6 billion deal with Chinese EV producer Human Horizons for a joint venture focusing on research and development of automobiles.
The manufacturing projects aim at meeting national EV targets. Saudi Investment Minister Khalid al-Falih said this year that the country aims to produce 500,000 electric cars annually by 2030 while under the Vision 2030 reform plan, there are plans to make 30% of all vehicles on the road in Riyadh electric by 2030.
Limits to competitiveness
Yet as a late entrant to EV production, Saudi’s industrial advantages may only take them so far.“Saudi just wants a seat at the table of the global battery value chain – keeps them relevant and too important to ignore but despite all talk of Vision 2030, Saudi will be more of a capital allocator,” Mehdi said. “Saudi’s competitive advantage only goes so far.”
Further, oil looks likely to remain central to the Kingdom’s economy.
“Saudi Arabia is still the lowest cost oil producer and the margins on oil exports are extremely high,” Mehdi said.
Oil made up 71% of Saudi Arabia’s total export revenue in 2021, according to OPEC.
yes you do ,, you will get the reach around after the next ann
Sorry mate . What's a reach around ? I'm not up to date with all these new expressions .
Samus
Top 20
I think it's where someone reaches around and wanks you with a cheese grater. Just like every announcement to date.
Lucky you gets a double wank this time around.
Bray
Regular
Can’t like this enough… sick of being fucked every month without permission
Carlos Danger
Top 20
Dave Evans
Regular
Cumquat Cap
Regular
Isn't that his wife?
Winenut
Go AVZ!
Last edited:
Pretty clear there's a number of profiles on Twitter baiting everyone to get stuck in to the DRC officials. Guys and gals, just be aware you are taking the bait.
They are posting excessively positive comments on DRC officials, the same officials we all feel/know are working against us, what a coincidence. Why would they do that? is it to express their love for the DRC? Is it to piss you off? I think not.
It is to get you to react and provide them with ammunition. They have already shown they screenshot everything.
I am very confident these attacks on the officials are being seen in the DRC, and it doesn't help. Personally I believe posting the facts of AVZ's achievements are more effective and cannot be used against us, facts are facts.
They are posting excessively positive comments on DRC officials, the same officials we all feel/know are working against us, what a coincidence. Why would they do that? is it to express their love for the DRC? Is it to piss you off? I think not.
It is to get you to react and provide them with ammunition. They have already shown they screenshot everything.
I am very confident these attacks on the officials are being seen in the DRC, and it doesn't help. Personally I believe posting the facts of AVZ's achievements are more effective and cannot be used against us, facts are facts.
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