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World news round-up 18 August 2014

Kellogg’s new sustainability goals; Staples’ new WEEE service in the US; Gloomy gold picture in India; Failed smelter could re-open

Cereals giant extends sustainability goals

Kellogg’s has announced a new set of global sustainability goals including a commitment to responsibly source its top 10 ingredients by 2020.

The company said by 2020 corn, wheat, rice, oats, potatoes, sugar (beets and cane), cocoa, palm oil, fruits and honey will be responsibly sourced using a combination of certification and documented ongoing improvement.

The company has also pledged to cut greenhouse gas emissions by 15% per tonne of food produced, expand the use of low carbon energy in its plants by 50%, and increase to 30% the number of plants sending zero waste to landfill.

Supply Management

Staples presses down on WEEE

Staples Advantage, the US business to business division of Staples, has launched a recycling service, in partnership with Electronic Recyclers International (ERI) to allow businesses to electronics conveniently, responsibly and in a secure manner.

“This programme demonstrates how Staples continues to lead the industry in recycling efforts,” said Al Zoldos, vice president of sales. “In 2007, we were the first retailer to offer recycling at our retail stores. Now we’re the first to provide a way for our corporate customers to easily and responsibly recycle old electronics.”

Press Release

Steelmaker to sell division

South Korean steelmaker Posco has said it is in talks to sell its speciality steel unit to SeAH Besteel - to help bolster its balance sheet.

Posco owns a 72.1% stake in the unlisted division. The holding would be worth 746 bn won (£437m) based on the price it paid for some of its treasury stock earlier this year.

Times of India

No recovery for Indian gold

Indian gold demand in 2014 will fall below last year’s record levels as import restrictions are expected to remain in place, the World Gold Council (WGC) has said.

Demand in 2014 will be 850-950 tonnes, the industry body said, down 50 tonnes from its earlier forecast. China’s demand forecast was also lowered to 900-1,000 tonnes from an earlier 1,000-1,100 tonnes.

The forecasts put consumption in India and China below record purchases of 974.8 tonnes and 1,120.1 tonnes respectively last year, when gold prices slumped 28% after a 12-year bull run. Global gold demand fell 16% in the second quarter, according to WGC’s quarterly report.


Exide Technologies plans to reopen smelter facility

Exide Technologies has agreed to make enhancements at its Vernon facility in California to conform with new air quality standards announced by the South Coast Air Quality Management District (AQMD).

The battery recycling firm said meeting the standards were a first step forward in ultimately reopening the smelter facility.

In March, the US Environment Protection Agency (EPA) said Exide had violated the Clean Air Act on not less than 30 occasions at the Vernon plant. According to the EPA authorities, the facility was found to have emitted excess quantities of lead into the air, thereby causing serious damage to health and lives of nearby residents in the region. The Vernon plant has a recycling capacity of around eight million batteries per annum.


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