Latest news with #exportban
Bloomberg
18 hours ago
- Business
- Bloomberg
Congo Extends Cobalt Export Ban by Three Months to Curb Supplies
The Democratic Republic of Congo extended a temporary ban on cobalt exports for an additional three months, according to a statement from a regulatory agency, prolonging its efforts to rein in a glut on the international market. Congo, which produces about three-quarters of the metal used in electric-vehicle batteries, had blocked shipments for four months starting Feb. 22. Supply has surged and prices slumped in recent years, as China's CMOC Group Ltd. ramped up output at two large mines in the central African nation.
Free Malaysia Today
6 days ago
- Business
- Free Malaysia Today
Taiwan adds China's Huawei, SMIC to export blacklist
Huawei's chips still lag behind the US by one generation. (AP pic) TAIPEI : Taiwan has put Chinese tech giant Huawei and chip titan SMIC on an export blacklist, further squeezing Beijing's access to the technology needed to build the most advanced chips. Huawei and Semiconductor Manufacturing International Corp were among 601 entities added to Taiwan's 'strategic high-tech commodities entity list', the ministry of economic affairs' international trade administration said yesterday. Taiwan is a global chip powerhouse, producing more than half of the world's semiconductors – including almost all high-end chips. Local companies wanting to ship high-tech products to Huawei, SMIC or any other entity on the list will have to obtain permission from Taiwan's government. 'Based on the prevention of arms proliferation and other national security considerations, a total of 601 entities involved in arms proliferation activities were added to the list… including Chinese companies such as Huawei and SMIC,' the administration said in a statement. Other entities added to the list are based in Russia, Pakistan, Iran and Myanmar, according to the statement. Taipei's move deals another blow to Chinese tech companies, which are already facing increasing export restrictions imposed by the US. The US has expanded efforts to curb exports of state-of-the-art chips to China, concerned they could be used to advance Beijing's military systems and other tech capabilities. Washington recently unveiled guidelines warning firms that using Chinese-made high-tech AI semiconductors, specifically Huawei's Ascend chips, would put them at risk of violating US export controls. Tougher controls have prevented US chip giant Nvidia, one of Huawei's rivals, from selling certain AI semiconductors – widely regarded as the most advanced in the world – to Chinese firms. As a result, it is now facing tougher competition from local players in the crucial market, including Huawei. Nvidia's chief executive Jensen Huang told reporters last month that Chinese companies 'are very, very talented and very determined, and the export control gave them the spirit, the energy and the government support to accelerate their development'. But Huawei's chips still 'lag behind the US by one generation', state media quoted its founder and CEO Ren Zhengfei as saying in a rare interview last week. Beijing has accused the US of 'bullying' and 'abusing export controls to suppress and contain' Chinese firms.
Malay Mail
6 days ago
- Business
- Malay Mail
Huawei and SMIC face new export curbs as Taiwan joins US in tightening chip controls on China
TAIPEI, June 16 — Taiwan has put Chinese tech giant Huawei and chip titan SMIC on an export blacklist, further squeezing Beijing's access to the technology needed to build the most advanced chips. Huawei and Semiconductor Manufacturing International Corp were among 601 entities added to Taiwan's 'strategic high-tech commodities entity list', the Ministry of Economic Affairs' International Trade Administration said Sunday. Taiwan is a global chip powerhouse, producing more than half of the world's semiconductors – including almost all high-end chips. Local companies wanting to ship high-tech products to Huawei, SMIC or any other entity on the list will have to obtain permission from Taiwan's government. 'Based on the prevention of arms proliferation and other national security considerations, a total of 601 entities involved in arms proliferation activities were added to the list... including Chinese companies such as Huawei and SMIC,' the administration said in a statement. Other entities added to the list are based in Russia, Pakistan, Iran and Myanmar, according to the statement. Taipei's move deals another blow to Chinese tech companies, which are already facing increasing export restrictions imposed by the United States. The United States has expanded efforts to curb exports of state-of-the-art chips to China, concerned they could be used to advance Beijing's military systems and other tech capabilities. Washington recently unveiled guidelines warning firms that using Chinese-made high-tech AI semiconductors, specifically Huawei's Ascend chips, would put them at risk of violating US export controls. Tougher controls have prevented US chip giant Nvidia, one of Huawei's rivals, from selling certain AI semiconductors – widely regarded as the most advanced in the world – to Chinese firms. As a result, it is now facing tougher competition from local players in the crucial market, including Huawei. Nvidia's chief executive Jensen Huang told reporters last month that Chinese companies 'are very, very talented and very determined, and the export control gave them the spirit, the energy and the government support to accelerate their development'. But Huawei's chips still 'lag behind the United States by one generation', state media quoted its founder and CEO Ren Zhengfei as saying in a rare interview last week. Beijing has accused the United States of 'bullying' and 'abusing export controls to suppress and contain' Chinese firms. — AFP
Bloomberg
02-06-2025
- Business
- Bloomberg
Eramet Shares Drop as Gabon Aims to End Manganese Ore Exports
Eramet SA shares fell as much as 5.7% after Gabon decided to ban the export of manganese ore from 2029, jeopardizing the French miner's biggest source of profit. Friday's announcement, which threatens to upend the supply chain of a metal that's used to harden steel products chiefly used in construction, is part of the African nation's aim to boost jobs and add more value domestically to the country's oil, timber and manganese resources.
Reuters
02-06-2025
- Business
- Reuters
France's Eramet says it will work with Gabon despite manganese export ban
PARIS, June 2 (Reuters) - French miner Eramet ( opens new tab, the main shareholder in Gabon-based manganese mining firm Comilog, said it will aim to safeguard the 10,460 Gabonese jobs sustained by Comilog and Comilog railway transport unit Setrag, despite Gabon's announcement of an export ban on manganese starting in 2029. Eramet said it "takes note of the Gabonese government's intention to ban crude manganese exports from January 1st, 2029. This move is described as part of the country's stated ambition to strengthen its industrial base, initiated by H.E. President Brice Clotaire Oligui Nguema and his Government". It said it acknowledged the government's move and, as the main co-shareholder in Comilog, will continue to work with the authorities "in a spirit of constructive partnership and mutual respect". In August 2023, Eramet temporarily halted manganese mining operation following a military coup that ended 56 years of rule by former President Ali Bongo. In April 2025, Gabon's Constitutional Court confirmed that coup leader Brice Oligui Nguema won the oil-rich Central African nation's presidential election. In October 2024, Eramet sharply cut 2024 production targets for its manganese mine in Gabon - the world's biggest - citing a downturn in the manganese market. Eramet's Comilog subsidiary processes some manganese, which is mainly used to produce carbon steel, locally in Gabon but mostly exports its mine production as ore.
