PET bottle recycling in Europe up; Cembureau concern over EU waste targets; Indian solid waste management vehicles market; Codelco’s profits hit by lower copper prices; Saudi Arabian smelter begins operations;
PET bottle recycling up in Europe
Figures from the trade association Petcore Europe show that over 65 billion PET bottles were recycled in Europe in 2013, up 7% on 2012 to 56%.
Casper van den Dungen, a board member of Petcore Europe, said there was still “considerable spare recycling capacity” to enable Europe to recycle more.
“However, one of the factors that will reduce our ability to utilise our available spare capacity is the increasing complexity of some collected baled bottles. Improved and standardised collection and sorting processes would help address this situation,” he added.
Cembureau apprehensive about EU targets
EU proposals for a zero-business waste culture to create a ‘circular European economy’ with increased recycling levels of 70% by 2030 has displeased the European cement association Cembureau. The industrial body says that European Commission has not recognised the contribution the concrete and cement industry is currently making with regards to recycling policy.
Indian waste vehicles’ market to rise
The market for vehicles for India’s solid waste management sector is anticipated to grow at a CAGR of 7.6% during 2014-19. The biggest users are the municipalites and the market offers great potential for growth.
Fall in copper prices impact Codelco profits
Chilean state copper producer Codelco’s pre-tax profit plunged 27.5% year-on-year to $1.31bn (£789m) in the first six months of this year. The company’s financial results were hurt by lower copper prices. The price of copper and other by-products accounted for $478m in first half lower earnings. Revenues from copper sales fell 14.6% at $5bn. Copper output from the firm’s own mines rose 3.9% to 788,000 tonnes.
Saudi Arabian aluminium smelter commences operations
Saudi Arabian Mining Co (Ma’aden) and Alcoa have begun commercial operations at its joint aluminium smelter worth $10.8bn (£6.5bn). Located at Ras al-Khair, the plant comes with a production capacity of 740,000 tonnes of a year.
Sandfire Resources owns over one-third of Tintina
Australian miner Sandfire Resources has agreed to acquire 80 million shares of copper mining firm Tintina Resources in a deal worth A$16m (£9m). With 36% of the shares, Sandfire now holds more of Tintina than any other investor. Tintina is planning to construct a copper mine north of White Sulphur Springs.