Albemarle reports 2Q 2013 results

Albemarle reports 2Q 2013 results

FOCUS ON C ATA LY S T S clean diesel technologies like DOCs use platinum group metals to break down pollutants or in DPFs and pDPFs to physically t...

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clean diesel technologies like DOCs use platinum group metals to break down pollutants or in DPFs and pDPFs to physically trap particulate matter. New clean diesel technology, such as DPFs and pDPFs, has reduced emissions from heavy-duty diesel trucks and buses by 99% for nitrogen oxides and 98% for particulate emissions. Furthermore, by retrofitting, new diesel technology can reduce emissions from older diesel trucks and buses by as much as 90%.

company also did not continue its algae venture with HR BioPetroleum in 2011. Shell and BP are expanding their traditional biofuel businesses in Brazil where Shell has 23 refineries with Cosan SA Industria e Comercio. In Dec 2012, BP announced that it would double its Tropical ethanol project capacity for $350 M.

Original Source: Johnson Matthey, website: http://www.platinum.matthey.com/ (21 Jun 2013) © Johnson Matthey plc 2013

Norilsk predicts palladium output growth

Biofuel investments at seven-year low as BP blames cost Funding for four separate ventures has been discontinued by BP and Royal Dutch Shell. The two companies saw that the technology used in producing fuel from woody plants and waste would not be economical until 2020 or beyond. The decision aided in cutting global biofuel production stakes investment from $7.6 bn in 4Q 2007 to $57 M in 1Q 2013. Due to this, the industry will have difficulties in helping the US and Europe in their goal to reduce fossil fuel pollution and wean motorists off crude oil-based fuel. In order to meet climate targets, biofuels should supply about 27% of road fuels globally by 2050. In 2012, sugar or corn-based ethanol represented about 1.9 M barrels/d of biofuel produced. This has increased by 10% from 2011. BP and Shell are experiencing problems in producing economical laboratory technology at a profitable scale. Shell indicated that the technologies are working but could not be taken forward due to the cost. In Oct 2012, a four-year project with $300 M investment for a cellulosic ethanol refinery in Florida was discontinued by BP. It ended its work to use jatropha as a feedstock for fuels in 2009. BP and DuPont & Co have opened a 350 M pound wheat-toethanol facility in the UK. The plant will produce biobutanol in the future. Shell did not go through with its plans to build a straw-based ethanol plant in Canada with Iogen. In Aug 2012, Shell discontinued its funding for biofuel enzymes at Codexis Inc. The

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Original Source: Renewable Energy News, 10 Jul 2013, (Website: http://www.renewableenergyworld.com/) © RenewableEnergyWorld.com 2013

Norilsk Nickel reports that the deficit in palladium output will grow to 60 tonnes by 2020 unless steps are taken to increase output. The lag between production and consumption stands at 30 tonnes, or one million troy ounces. As consumption of both platinum jewellery and low-emission cars is on the increase, this production gap will increase. The gap could double in just seven years. Metal producers are aware of the disconnect between supply and demand and are likely to take steps to increase production. A Johnson Matthey report showed that greater demand for palladium from car makers for low-emission vehicles and tighter pollution standards around the world will see the deficit continue throughout 2013. It revealed that there was a 1.1 M ounce deficit in global palladium, excluding recycling, in 2012, with demand reaching 7.6 M ounces but a total supply of just 6.5 M ounces. Original Source: Johnson Matthey Platinum Today, website: http://www.platinum.matthey.com/ (09 Jul 2013) © Johnson Matthey plc 2013

COMPANY NEWS Albemarle reports 2Q 2013 results Albemarle Corp reported 2Q ended Jun 2013 earnings of $82.7 M, or $0.98/share, compared to 2Q ended Jun 2012 earnings of $50.1 M, or $0.56/share. The company reported net sales of $634.2 M in 2Q 2013, down from net sales of $684.9 M in 2Q 2012, driven by exit from the phosphorus flame retardants business, lower metals surcharges,

unfavourable pricing in bromine portfolio and lower Fine Chemistry Services volumes, partly offset by favourable volumes in Refinery Catalysts and Brominated Flame Retardant businesses. Original Source: Albemarle, 2013. Found on PR Newswire, 17 Jul 2013, (Website: http://www.prnewswire.com)

Anglo American Platinum production up despite stoppages Anglo American Platinum (Amplats) production for the 2Q 2013 rose despite a series of stoppages. The world’s number one producer reported equivalent refined production increased by 2% to 594,000 ounces, in spite of intermittent illegal industrial action. Excluding its Marikana jv, which was placed on care and maintenance in Jun 2013, operating mines improved production by 14,000 ounces, an 8% increase on their prior year performance. Palladium production fell 10% to 320,000 ounces in the 2Q 2013, while rhodium slid 7% to 70,000 ounces. Palladium and rhodium variances are a result of a different source mix from operations and different pipeline processing times for each metal. On a nonequivalent basis, refined platinum production was down 7% to 582,000 ounces. The company said this was due to three separate production incidents at the converting plant in Apr 2013, which resulted in lower output into the refinery. Original Source: Johnson Matthey, website: http://www.platinum.matthey.com/ (18 Jul 2013) © Johnson Matthey plc 2013

BASF looks to biochemicals and enzymes BASF has signed new agreements as it plans to engage in bio-based chemicals and enzymes production. Under a deal to use Genomatica’s direct fermentation technology, BASF will build a 1,4-butanediol (BDO) facility with 50,000 tonne/y capacity using renewable conventional sugars to make commercially viable amounts of chemicals primarily for plastics and textiles industries. The products are expected to be available for sampling and trial by 2H 2013. BASF has a capacity of 535,000 tonne/y for conventional BDO. BDO is widely SEPTEMBER 2013