Oligopolies – Hardouin http://hardouin.info/ Fri, 07 May 2021 13:51:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 WATCH: Siyabonga Gama says Anglo American is guilty of ‘actual state capture’ https://hardouin.info/watch-siyabonga-gama-says-anglo-american-is-guilty-of-actual-state-capture/ Mon, 26 Apr 2021 09:16:00 +0000 https://hardouin.info/watch-siyabonga-gama-says-anglo-american-is-guilty-of-actual-state-capture/
A child plays with bubbles as people wait to break their fast outside a mosque in Shah Alam Public Park near Kuala Lumpur, Malaysia on April 25, 2021. Muslims around the world celebrate the holy month of Ramadan by praying at night time and refrain from eating, drinking and sexual acts during the period between sunrise and sunset. Ramadan is the ninth month of the Islamic calendar and the revelation of the first verse of the Quran is believed to have taken place in its last 10 nights. EPA-EFE / FAZRY ISMAIL “,” excerpt “:” Our image editors select the best news photos from South Africa and around the world to give you a visual overview of the weekend’s events. “,” Format “:” gallery “,” media “:” “,” oovvuu “:” “}, {” id “: 2479132,” name “:” u0027Mr Cash u0027 Singh cannot handle the heat of Zondo, requests adjournment “,” permalink “:” https: / / citizen.co.za / news / south-africa / state-capture / 2479132 / mr-cash-singh-cant- handle-zondo-heat-requests-for-ajournment / “,” image_src “:” https: / / citizen.co.za / wp-content / uploads / 2021 / 03 / Anoj02-300×200 .jpg “,” image_src_narrow “:” https: / / citizen.co.za / wp-content / uploads / 2021 / 03 /Anoj02-e1618300044640.jpg “,” image_src_square “:” https: / / citizen.co.za / wp-content / uploads / 2021 / 03 /Anoj02-e1618300044640.jpg “,” category “:” STATE CAPTURE “,” category_class “:” child-of- news “,” time_ago “:” 3 days ago “,” premium “: false,” gallery “: false,” excerpt “:” The commission learned that Singh had a bank account of R19 million, while ‘he was not spending his salary for three years. “,” format “:” video “,” media “:”
The real cost of immunizing everyone https://hardouin.info/the-real-cost-of-immunizing-everyone/ Mon, 26 Apr 2021 06:31:28 +0000 https://hardouin.info/the-real-cost-of-immunizing-everyone/

What is the total cost for the government to vaccinate everyone in India? The calculation is simple but the answer varies a lot depending on the assumptions you make.

We know that our total population is around 135 crore, and our adult population (over 18) would be between 85 crore and 90 crore. According to several accounts, the union government has so far bought doses of Covishield vaccine for Rs 150 from the Serum Institute of India (SII). The price he pays for Bharat Biotech’s Covaxin, according to the company’s statement, is the same. Now if we assume that 90 crore adults will need two doses each, the number of doses needed is 180 crore. Multiplying 180 crore doses by Rs 150 per dose brings us to Rs 27,000 crore.

Interestingly, this represents a good Rs 8,000 crore – a shade of over $ 1.06 billion in savings over the Rs 35,000 crore that Finance Minister Nirmala Sitharaman told us was allocated to the program. vaccination this year. And she also said that if more money was needed, it would be found.

This is of course the first big question.

But so far the union government hasn’t really come out and said why it doesn’t want to vaccinate everyone. What he said was that vaccine makers should keep half of their production capacity for union government and use the rest for state governments and private hospitals for higher fees.

Naturally, this seems to indicate that the unity government now only wants to immunize half of the country’s adult population through its own budgets. This means that he probably intends to spend only Rs 13,500 crore of his initially allocated Rs 35,000 crore and leave the rest of the vaccination to state governments and individuals. This would save him a huge crore of Rs 21,500 while adding to state budgets and those of individuals.

But then states will have to pay a lot more if they vaccinate the rest of the population with their own budgets. This is because SII intends to charge them Rs 400 per dose, while BB will charge states Rs 600 per dose.

If all the states bought only from SII, they would collectively end up paying not the 13,500 crore rupees that the union government spends to vaccinate 45 crore adults but 36,000 crore for the exact same number of people.

But then, they can’t just buy from SII because the company doesn’t have the capacity to provide the full amount. So they should also buy a certain amount from BB. But BB costs even more. If states were to vaccinate even 10 adult crores using the BB vaccine, they would end up paying Rs 12,000 crore for those doses. Another 35 crore vaccinated using the SII vaccine would total Rs 28,000 crore. Thus, their bill climbs to Rs 40,000 crore. The more BB vaccines they use, the more their cost increases.

On the other hand, the trade union government remains rather happy because it is saving a lot compared to the amount it had initially allocated. This saves Rs 22,500 crore which is not a small amount in the economy.

There are three questions that arise? Why has the government changed its mind about spending all the money it originally budgeted for? And second, why are the costs to state governments and private hospitals so much higher than what it costs the unity government? And finally, why do two vaccines that the union government buys for exactly the same amount – 150 rupees per dose – cost so dramatically different for state governments and private hospitals? This is why a vaccine for which the union government pays 150 rupees ends up costing the state government 400 rupees, while one that also costs the union government 150 rupees costs the state governments 600 rupees. .

Private vaccine producers are making a profit, whether in India or abroad. What is less clear is the exact motivation of the unity government to give the green signal to these prices.

Many people on social media argue that in open markets, private companies can set prices however they want or what the market is willing to pay. This is a slightly specious argument, because when the regulator and the government control the players by allowing only a few on the market while many others wait on the sidelines, it changes the rules of the game. free market, it becomes a government-sanctioned duopoly or oligopoly (assuming Sputnik V hits the market soon). And this is not a good thing for the citizens.

Prosenjit Datta is a former editor-in-chief of Businessworld and Business Today magazines. This has been reproduced from his website prosaicview.com with his permission. Opinions are personal.

Capitalist decline https://hardouin.info/capitalist-decline/ Sat, 24 Apr 2021 00:49:46 +0000 https://hardouin.info/capitalist-decline/

The recent US wars in Afghanistan and Iraq were neither necessary nor successful militarily. They allowed massive public spending and justified the increase in “defense” spending in federal budgets. The Soviet Union as a great enemy was gone. An unlimited world war on “terrorism” provided a temporary foreign danger until today’s pivot to a new cold war with China could take hold as the main justification. But whatever global protection the U.S. military offers today’s global and vulnerable supply chains, massive military spending has also contributed to neglecting infrastructure maintenance. It has become urgent. The problem of old guns for butter is generally associated with the decline of the economic system.

As the US government desperately tries to manage the rising costs of its foreign and domestic programs, it resorts to a modern version of the “currency debasement” of the ancients. The Federal Reserve System monetizes deficits in rapidly growing proportions. With unemployment, tight wages and excessive personal debt levels, money creation does not turn into real investment but into stock markets.

Inflation was therefore real there, fueling ever greater inequality of wealth. We have the promise that money creation will never focus on goods and services, thus causing classic inflation. We are confident that the Fed will register and control such inflation if it threatens. These promises and assurances are meant to prevent what officials know to be terrifying possibilities.

The January 6 assault on Capitol Hill made a shocked nation more aware of the depth of its social divisions and the disintegration of its social cohesion. Those who attacked the Capitol responded to the decline of capitalism with desperate resistance: to an electoral result, to political liberalism, to multiculturalism, to secularism, etc. Like Trump, they tried to reverse the decline of capitalism. Because their ideology prevents them from recognizing this decline, they reason differently. They blame and therefore seek to dismantle the government.

Yet the US government, via the bipartisan oligopoly in US politics, has steadfastly supported US capitalism. The parties differ in part and only on how best to proceed. As the decline progresses, despite the efforts of the parties to stop it, the growing frustration eventually boils over. The efforts become extreme and thus aggravate rather than solve the problem. Members of Trump’s cabinet have often devoted themselves to destroying their respective departments. The January 6 assailants also sought to destroy. Such self-destruction is a sign of an advanced decline of the system.

Extract: “ Growing Desperation as America’s Capitalist System Declines ”


The driving ambition behind a $ 4 billion lithium merger https://hardouin.info/the-driving-ambition-behind-a-4-billion-lithium-merger/ Fri, 23 Apr 2021 06:44:00 +0000 https://hardouin.info/the-driving-ambition-behind-a-4-billion-lithium-merger/

Orocobre means “golden copper” in Spanish, but the company focused on lithium shortly before its listing when founding director Neil Stuart attended a mining conference in Argentina’s wine region of Mendoza and earned the credentials. rights of a salt lake 4000 meters above sea level in the Andes.

Lithium was at the time a very small opaque industry run by an oligopoly of Chinese, Chilean and American companies.

The lack of credible and transparent price information has made banks reluctant to lend to aspiring lithium; a bias that has only started to fade over the past two years.

Interest-free from banks, Seville traveled the world in 2008 and 2009 looking for partners to help finance the construction of a project that extracts lithium from salty groundwater beneath the Salar de Olaroz in Argentina.

He soon realized that Orocobre’s future would be defined by cars, rather than calculators and iPads.

“When I started going to conferences and realizing who these partners might be, it became very clear that the other side of the value chain was the auto companies, or the trading houses who thought there was there was a future in trade with car manufacturers ”. said Seville.

A crucial deal to sell the project’s equity and buy it from a division of the Japanese Toyota group was reached in 2010.

Toyota’s involvement convinced the Japanese group Mizuho to do in 2012 what most bankers considered unthinkable; lend $ 192 million to a lithium aspirant with no delivery history.

The loan was largely guaranteed by the Japanese government, and like rare earth producer Lynas, the involvement of Japanese patient partners has enabled Orocobre to survive the extreme volatility of the lithium industry and the challenge of the commissioning of a new project.

Olaroz’s remote and inhospitable location in a high altitude desert ensured many false starts before lithium was first produced in 2015.

An OEM ignored Orocobre’s request for an industrial-scale water boiler capable of dealing with the low atmospheric pressures associated with operation at 4,000 meters above sea level.

Instead, the supplier installed a boiler designed to operate at sea level, causing weeks of confusion over why the processing plant was underperforming.

“We were scratching our heads wondering why things weren’t working, until one of our employees looked at the nameplate on the side of the boiler and said, ‘Take a look. to this, ”Seville remembers.

“It was a real pain.”

As Orocobre developed the world’s first new lithium ‘brine’ operation in decades, Galaxy was proving a hard rock deposit at Mount Cattlin, Western Australia, which was traditionally known for its potential to produce another niche product. ; tantalum.

Like Orocobre, Galaxy was listed with ASX in 2007 with Perth geologist and mining entrepreneur Michael Fotios at the helm.

Fotios, by the way, is the common thread between the two largest mergers in the ASX resource sector over the past year; As well as being the founding father of Galaxy, he was also instrumental in relaunching in 2009 what was then a $ 6 million company called Northern Star Resources.

Michael Fotios was Managing Director of Galaxy Resources when it went public in 2007. Trevor Collens

Northern Star became the world’s sixth-largest gold miner in October when it merged with Saracen to create a company worth more than $ 13 billion on Friday.

“I seem to have this trail of things behind me, some are good and some are bad, but that’s good, that’s the nature of the mining game,” Fotios said of his connection to the two mergers.

Mount Cattlin was acquired from the administrators of Sons of Gwalia, bankrupt miners, in 2006 and had Fotios been successful, mining at Mount Cattlin would not have started until now.

“In 2008, you could see that it would take at least ten years for there to be adoption of electric cars,” he recalls this week.

“The strategy was to bring together as many great resources as possible and when the boom really happened you would have three or four major resources and not just one.”

But others at Galaxy weren’t ready to wait a decade, and Mount Cattlin produced its first lithium in October 2010.

“That’s why I left Galaxy; we drilled the resource but I didn’t think it should be developed right away. I thought they better wait five or six years and sit there because the real demand was going to be in the late teens and early 2020s, ”Fotios says.

“But of course they went ahead and developed it and they went through a hollow and it got them all kinds of trouble.”

Fotios’ comments hint at the roller coaster the lithium industry has endured over the past decade.

Less than two years after its start-up, Mount Cattlin was closed due to low demand in July 2012.

A surge in lithium prices between 2014 and 2018 – driven by Chinese EV subsidies – brought Mount Cattlin back to life in January 2017, and five more WA mines followed over the next 18 months.

The sudden wave of new supply in the still small lithium industry overwhelmed demand, crushed prices and sent some rival miners to the wall amid the bear market that operated between mid-2018 and mid-2020.

Galaxy and Orocobre both lost money in FY2020 and were both forced to raise equity.

But the lithium roller coaster started to follow north again in June 2020 when stimulus packages in countries like Germany offered nearly 10% discounts on the purchase price of a new electric vehicle.

From less than 100,000 in April 2020, global sales of electric vehicles have jumped to nearly 600,000 in December 2020, with 87% of sales made in Europe or China.

European sales fell in the new year due to the expiration of some subsidies, but Chinese sales continued to climb and global EV sales remained around 300,000 in February.

From just 4% of vehicle sales in 2020, UBS predicts that electric vehicles will account for 20% of global vehicle sales in 2025.

By 2030, UBS estimates that half of all vehicle sales will be electric; an objective which will require a production of batteries multiplied by 22 compared to current levels.

“We are more confident than ever in a steep EV penetration curve,” UBS said in a March 4 note.

“We don’t think the supply of raw materials is ready for the wave of demand that’s coming.

“Considering all the known [lithium] projects available by 2030, we estimate that the total amount of lithium available will only be sufficient to meet 22% of EV penetration. “

Morgan Stanley is more cautious with predictions that electric vehicles are expected to account for 13% of vehicle sales by 2025 and 31% by 2030.

But the two forecasters expect electric vehicles to hold more than 80% of the market by 2040.

AustralianSuper long ago identified transportation electrification as the type of ‘mega trend’ that suits its long-term investment style, and Orocobre has been one of its most successful investments in the industry. battery minerals.

AustralianSuper first invested in Orocobre in 2015, seized the declining share price to become a significant shareholder at the end of 2018, and increased its stake to over 7% when raising funds from the ‘last year.

Orocobre CEO Martin Perez De Solay (left) and Galaxy CEO Simon Hay at Galaxy’s Perth office after finalizing details of their $ 4 billion merger. Trevor Collens

Much of that stake was acquired at prices close to half of the $ 6.36 Orocobre shares fetched on Friday.

AustralianSuper’s senior portfolio manager Luke Smith said his team saw through lithium’s short-term volatility and remained focused on the long-term picture.

“This is a good example of AustralianSuper using its longer term approach to invest and see through short term volatility and stay focused on the strong theme of EV and battery storage,” he said. he declares.

“The lithium market quickly returned to the commodity recovery cycle after two spikes of steady downward pressure on prices that was exacerbated by the onset of COVID in early 2020.

“The deployment of more electric vehicle models by many global automakers begins to accelerate in 2021 and will continue to expand rapidly over the next five years, supporting strong growth in demand for lithium and materials from associated battery. “

Mr Smith said the merger was positive as it would allow Orocobre’s technical experience in Olaroz to contribute to a similar project that Galaxy is building near Sal de Vida.

“AustralianSuper understands the strategic rationale for the merger from the perspective of both companies as it expands the asset base in multiple jurisdictions,” he said.

“As a result, the operational risk inherent in the merged company is reduced compared to that of a single asset company.

“In addition, Orocobre’s management team can use their experience in the development and operation of Olaroz for the development of Sal de Vida. The value of having an experienced team in the development of Sal de Vida is a significant advantage of the merger. “

The big question for investors in the lithium sector is whether the industry has grown and matured to the point that it can support further increases in supply, or changes in subsidy policy for electric vehicles, without switching between boom and bust.

The man who will lead the merged entity, Argentina’s father of five, Martin Perez De Solay, said the fact that European EV sales are starting to keep pace with Chinese sales should ensure more consistent demand for lithium. .

“It’s a completely different market now,” he says.

“The demand was primarily from China, but it’s a market where the strongest growth in demand is coming from Europe and the United States is rapidly moving into the deployment of electric vehicles.

Fotios agrees that lithium will be less of a roller coaster ride in the future.

“The maturation and geographic diversification of this supply chain is what was needed before it became stable and this happened,” he says.

“I think from now on it becomes pretty stable.”

launches the first digital mortgage, backed by Bendigo https://hardouin.info/launches-the-first-digital-mortgage-backed-by-bendigo/ Thu, 22 Apr 2021 02:53:00 +0000 https://hardouin.info/launches-the-first-digital-mortgage-backed-by-bendigo/

Commonwealth Bank remains the owner of Aussie, but its stake will be reduced to a minority stake of 45% when a merger deal with Lendi is reached, which will offer Lendi shareholders 55% of Aussie. Lendi will help Aussie create a new digital brokerage experience, while Tic: Toc provides direct execution capability to clients, from online chat to loan appraisal, to settlement.

Purely digital end-to-end mortgages remain a small part of a very large market: Customers who search for a mortgage online and stay online to complete the transaction represent 6% of the market, worth approximately $ 21 billion a year, according to a Momentum Intelligence Survey cited by Aussie.

But that’s increasing by 33% per year, Equifax says. “The digital channel is developing rapidly and within this framework, it is the pure digital players who are growing the fastest,” said Anthony Baum, CEO and founder of Tic: Toc.

Aussie will be competing with a growing number of players, including Athena Home Loans, Homeloans.com.au (which is part of Resimac), UBank (which is part of National Australia Bank) and Tic: Toc itself. Tic: Toc settled $ 1.5 billion in mortgages under his own brand in 2020 (loans are also underwritten by Bendigo), up 128%.

Aussie wants to attack the market of customers who start looking for a home loan online, but then head straight to a bank to complete it, which Momentum says is 16% of the market, worth around $ 57 billion. of dollars. The value of loans settled through Australian brokers in 2020 was $ 17.7 billion.

“The Aussie is leveraging the global ‘platform’ theme in financial services,” Baum said. “The brand, the technology and the bottom line break down into three capacity components. Aussie uses its brand, Tic: Toc technology and the Bendigo balance sheet. It’s like Afterpay, 10x, and Westpac. “

While Tic: Toc will handle the process and Bendigo issues the loan, from the customers’ perspective, the look and feel of the application process will remain within Aussie’s environment. If customers wish to interact with a broker during the buying journey, they will be transferred to one of Australia’s 1,000 mortgage brokers in approximately 220 storefronts across the country.

New customers

With this network of Australian brokers potentially uncomfortable with the digital shift, Mr Symond has sought to allay any concerns about the disruption. His message to Aussie brokers is: “This is a client we would not usually attract.”

When the The Australian Financial Review Asked if increasing digitization would lead to physical network consolidation, he said, “Time will tell, but right now we have a lot more customer demands than we can handle. I would be very surprised if any brokers say they are losing business to an online channel at this time. They trade as much as they can consume and it will really help our brokers. “

“This industry is still very complicated, you have thousands of products and deviations. Today, and for a long time to come, face-to-face meetings and brick and mortar will be there. Online, in my opinion, will only be a minority part of the business for quite some time. However, as systems and processes become cleaner and simpler, inline traction will become more and more important. So we want to capture all the different parts for consumers. “

Asked whether Bendigo would keep an exclusive arrangement, Mr Symond declined to be specific and said, “Let’s see how the program works. Let’s see what kind of volume and quality we get. In 12 or 24 months we can see who else wants to play. But at this point we have a dance partner for this product line and we are committed to Bendigo and Adelaide Bank and are happy to launch this with them.

Going to one of the big banks “is certainly not part of the thinking process right now,” he added. About two-thirds of the loans referred by Aussie are through non-material bank lenders.

Adding a digital channel to Aussie made sense given the history of the company, Mr Symond said. When the company was established in 1992, it didn’t even have bricks and mortar, but instead sent brokers to homes, before realizing that a physical network would help attract new customers.

“Either you are part of the change or you are a victim of it,” he said. “This is the Aussie trying to step forward again and we’ve been really good at it for 30 years. When brick and mortar storefronts were needed, we deployed them successfully. Aussie Online is something really important for the future of the business. There are a lot of people looking here to see if we are doing it right. “

The Super League collapsed on its own and Boris Johnson’s threats to intervene were grossly misguided https://hardouin.info/the-super-league-collapsed-on-its-own-and-boris-johnsons-threats-to-intervene-were-grossly-misguided/ Wed, 21 Apr 2021 13:00:00 +0000 https://hardouin.info/the-super-league-collapsed-on-its-own-and-boris-johnsons-threats-to-intervene-were-grossly-misguided/

The Super League was a terrible idea. He inevitably fell apart before he even had a chance to start. The owners of the dubious eponymous Big Six exposed themselves as hopelessly out of touch with fans, players and their own managers. It became shamefully obvious, even to the clearest of football fans, that the format was designed to milk the global audience while preventing successful teams from knocking the founding members off their perch.

The concept of a Super League is disrespectful to the communities in which the clubs are based. It sparked the wave of fury we saw yesterday. Under the weight of the backlash, the clubs surrendered one by one until the Super League collapsed completely.

In the end, the so-called Super League blew up. He didn’t need government intervention, just regular outrage and terrible PR. Boris Johnson’s instinctive threat to “drop a legislative bomb” to stop the formation of the Super League shows that Downing Street has followed the philosophy of every other UK government for twenty years. To deal with things he doesn’t like, he bans them, or at least threatens them, no matter if they cause harm or are government business.

As long as I can, I can’t think of a single rationale that passes before the state regulating the format of football tournaments. The Super League was, in effect, an alternative to the Champions League. Its most heinous feature was that the fifteen founding members will forever be safe from relegation, which sounds boring.

It might be tenuous to argue that the premise of the Super League was anti-competitive and therefore a suitable target for regulation, but then one would have to break the cozy duopolies of boat racing and the Ashes, as well as oligopolies such as the Six. . Nations. In any case, the Super League would hardly have succeeded in carving out a monopoly on football. He wouldn’t even have had a monopoly on European football since the Europa League would continue and the Champions League would probably be on the move.

These clubs were restricting competition among themselves, but they magnanimously announced that five lesser teams would have been allowed to sit at the top of the table for at least one season at a time if they played well. These teams would, I presume, have had a chance to win the trophy. The idea that it was a “cartel,” as Keir Starmer claimed, was far from relevant.

You could argue that football clubs are part of our heritage and should be protected, but the government does not nationalize clubs that go bankrupt and prevent their sale to foreign owners. The Big Six weren’t planning on going away, they were just going to play half of their games away from home. They would have been more financially secure than ever.

The threat of capricious government intervention, however, was very misguided. If an avid soccer club only wants to play against other avid soccer clubs, that is their right. The response from fans should be to cancel their season tickets and TV subscriptions until their clubs regain consciousness.

]]> Upstart Could Overthrow Multibillion-Dollar Boron Oligopoly https://hardouin.info/upstart-could-overthrow-multibillion-dollar-boron-oligopoly/ Wed, 21 Apr 2021 10:44:11 +0000 https://hardouin.info/upstart-could-overthrow-multibillion-dollar-boron-oligopoly/

Tesla CEO (NASDAQ: TSLA) Elon Musk called hydrogen cars “dumb dumb,” a criticism that iron ore billionaire Andrew Forrest stems from Musk’s fear of technology, adding that the Musk’s perspective is suitable for someone who “treads a battery technology is also green when it runs on fossil fuels.”

Forrest sees no future in lithium-ion powered electric vehicles and has put his money where it is, betting to make its Fortescue Metals Group Ltd., the world’s fourth largest importer of iron ore, a clean energy giant with hydrogen vehicles as the focal point.

Indeed, Li-ion electric vehicles are much more advanced and cheaper than their hydrogen counterparts, but it is the “now” of the green vehicle industry. New technology using a combination of hydrogen and boron could pose a serious threat to Li-ion which allows hydrogen to bridge the gap at lighting speed.

Both hydrogen and boron are readily available, and research from the University of Cambridge suggests that a combination of just one gram of hydrogen-boron fuel could potentially power a car 80,000 miles.

Forget the anxiety of reach. Forget about tens of billions of dollars in charging station infrastructure.

“The boron market is already ripe for disruption and if hydrogen-boron fuel cells become a reality underscored by the brilliant work of Gérard Mourou, Donna Strickland and others, decades of growing demand will be cemented,” said Tim Daniels, CEO of Erin Ventures Inc. (TSX-Venture: EV) in a phone conversation with AllPennyStocks.com. “This is a really exciting time for what is generally a overlooked market opportunity.”

Daniels was referring to hydrogen-boron fusion with the Chirped Pulse Amplification laser that won Gérard Mourou and Donna Strickland a Nobel Prize in Physics in 2018. Applications abound for technology from vehicles to cheaper, radiation-free nuclear reactors.

Boron is an irreplaceable mineral today used in everything from healthcare and fertilizers to fighter jets (and electric vehicles powered by Li-ion). Supply is an oligopoly with Rio Tinto (NYSE: RIO) and Turkish state-owned company Eti Mine Works now controlling about $ 4.0 billion in the $ 4.9 billion market.

Daniels and Erin Ventures are ready to change this dynamic. Erin controls the Piskanja boron project in Serbia, one of only three high-quality, world-class boron projects in existence today. Located south of Belgrade, Serbia, in a historic mining region, Piskanja has all the necessary infrastructure including paved roads, railroads, electricity, seasoned miners, water, and more.

An NI 43-101 report amended in February 2019 shows that the project harbors an indicated mineral resource of 7.8 million tonnes (on average 31% B2O3 (boron trioxide)) and an inferred resource of 3.4 million tonnes (on average 28.6% of B2O3).

According to the company’s historical PEA drafted by SRK in September 2014, the mine has a lifespan of several decades, with the potential to generate well over $ 100 million per year in revenue. That’s billions of dollars in revenue that should come with high margins with an estimated cost per tonne sold estimated at around $ 166 (compared to Statista’s estimate for $ 762 / tonne of boric acid in the coming years).

Erin is pushing the project forward as Serbia seeks to enter a post-covid economy, bringing in a partner to speed up the process and shoulder some of the financial burden. On April 13, the company announced that it was finalizing an agreement for the joint development of Erin’s Piskanja boron project with Temas Resource Corp. (CSE: TMAS) (OTCQB: TMASF) in which Temas has the possibility to acquire a 50% stake in Balkan Gold, the Erin unit holding the Piskanja license, by spending 10.5 million euros ( $ 12.85 million) for the development of Piskanja over a period of 36 months.

A lot can happen in three years when it comes to the hydrogen-boron fuel cell market, developments that could perfectly match the exploration work at Piskanja. Advancing the project to better demonstrate the economy and resources should attract the attention of not only investors, but also industry majors looking to carve out a slice of the oligopoly market.

Nigerian lawmakers want Dangote’s cement dominance shattered https://hardouin.info/nigerian-lawmakers-want-dangotes-cement-dominance-shattered/ Tue, 20 Apr 2021 17:02:51 +0000 https://hardouin.info/nigerian-lawmakers-want-dangotes-cement-dominance-shattered/

Nigerian lawmakers have urged the government to break the dominance of the country’s three largest cement companies to encourage more competition and lower prices.

Dangote Cement Plc, which holds 61% of the market, Lafarge Africa Plc and BUA Group effectively control production in Africa’s most populous country, the Nigerian Senate said in a statement sent Tuesday evening. This makes the market “sensitive to pricing practices,” they said.

Dangote Cement is owned by Africa’s richest man, Aliko Dangote, who operates factories in 10 countries and builds the continent’s largest oil refinery in the West African country.

More government incentives such as concessional loans and larger tax cuts for new entrants could make the market more competitive, lawmakers said. This in turn could lower the cost of cement which is 240% higher in Nigeria than the world average. More locally produced cement is also needed to reduce a housing deficit of 30 million units, lawmakers said.

Lafarge Africa “is committed to operating in a free and open market,” a spokesperson for the Lagos-based producer said by phone. “We are constantly investing to meet the demand for our products in the Nigerian market where buyers have a choice.” Dangote and BUA did not immediately respond to calls for comment.

Nigeria’s new cement companies will find it difficult to compete as the cost of production is one of the highest in the world, Onyeka Ijeoma, analyst at Vetiva Capital Management, said by phone. “If there is anything the Senate can do to help open up the space, it will be to improve the ease of doing business,” he said.

– With the help of Tope Alake and Emele Onu

(Updates with Lafarge Africa comments in the fifth paragraph)

Virals: Everton owner Farhad Moshiri criticizes ESL proposals https://hardouin.info/virals-everton-owner-farhad-moshiri-criticizes-esl-proposals/ Tue, 20 Apr 2021 13:00:00 +0000 https://hardouin.info/virals-everton-owner-farhad-moshiri-criticizes-esl-proposals/

Everton’s Anglo-Iranian owner Farhad Moshiri has weighed in on the recent European Super League controversy over talkSPORT, claiming the ‘big six’ are attacking the Premier League.

The owner criticized ESL in which rivals Liverpool would join a host of elite European clubs to create a American closed store league – one without relegation.

Funded by more £ 4 billion in loans According to US investment bank JP Morgan, the system would ensure vastly expanded and more stable income streams for the European elite – but it would mean the end of football pyramids across Europe.

Everton posted a strongly worded official statement this morning, fiercely condemning the separatist “big six” clubs, and Moshiri himself stepped out to echo the sentiments formally expressed by his club.

Moshiri claimed that the move is designed to reflect a similar power grab that it thinks came with financial fair play regulation, arguing that such moves “cemented” a football’s “big six” oligopoly at the expense of rival clubs.

He claimed that “all facets” of the proposal “are against the idea of ​​British football”, saying it is “six clubs attacking the Premier League and should be punished”, calling for a point deduction for the teams involved this season.

Read Everton’s verdict

Moshiri has shown commendable leadership by sticking his head above the parapets to speak out on such an evocative and controversial issue that is preoccupying the football world at the moment.

European football will need to bring out as many influential voices as possible if we are to stand firm to ensure that the proposed reforms are dead in the water.

DRAM prices expected to increase 18-23% vs. Q / T in 2Q21 https://hardouin.info/dram-prices-expected-to-increase-18-23-vs-q-t-in-2q21/ Tue, 20 Apr 2021 10:21:38 +0000 https://hardouin.info/dram-prices-expected-to-increase-18-23-vs-q-t-in-2q21/ Although these negotiations are not yet finalized, the ASP of traditional DDR4 1G * 8 2666Mbps modules has already increased by nearly 25% QoQ as of now, according to current transaction data. This represents a higher price increase than TrendForce’s previous forecast of “nearly 20%”. On the other hand, prices are also increasing in various categories of DRAM products in 2Q21, including DDR3 / 4 specialty DRAM, mobile DRAM, graphics DRAM, and especially server DRAM, which is strongly related to PC DRAM. and therefore also undergoes an increase in price increases than expected. TrendForce is therefore revising its forecast for the overall DRAM price hike for 2Q21 upwards from 13-18% QoQ to 18-23% QoQ instead. However, the actual increase in the prices of the different categories of DRAM products will depend on the production capacities allocated to the respective products by the DRAM suppliers.

PC DRAM prices are now expected to experience QoQ growth of 23-28% in 2Q21 due to increased production of laptops.

PC DRAM contract prices increase with a higher margin than expected for 2Q21, mainly because major PC OEMs are now aggressively expanding their production targets. In addition, as the second quarters are typically peak seasons for laptop production, it is now estimated that PC ODMs will increase their quarterly laptop production by around 7.9% QoQ in 2Q21. Finally, when it comes to the COVID-19 pandemic, vaccination rates remain relatively low across the world, which means that WFH and distance education are likely to persist and create continued demand for laptops, thus increasing the price increase of PC DRAMs.

]DRAM vendors will benefit from increased bargaining power in price negotiations as server DRAM prices are expected to increase 20-25% QoQ in 2Q21

In addition to the problem of insufficient DRAM supply, the server DRAM supply in 2Q21 benefited from the positive shift of enterprises towards IT investments as well as the higher than expected demand related to the migration to the cloud. There was already a supply deficit in 1Q21, and these developments will further increase demand in 2Q21. As a result, buyers and suppliers find it increasingly difficult to come to an agreement on prices. Suppliers are in a more advantageous position in contract negotiations because the DRAM market is an oligopoly. Therefore, compared to the previous forecast of nearly 20%, TrendForce now expects server DRAM contract prices to increase 20-25% QoQ in 2Q21.

PC DRAM, Server DRAM and Global DRAM planned ASP 2Q21E

Revised Ver. Original worm.
PC DRAM Up to 23 ~ 28% Up to 13 ~ 18%
DRAM server Up to 20 ~ 25% Up to ~ 20%
Total ASP Up to 18 ~ 23% Up to 13 ~ 18%

For more information, please visit TrendForce. ]]>