June 2022 - MiningNewsWire

ThursdayJun 30, 2022 1:44 pm

Surge in Demand for Electricity Causes China to Ramp Up Coal Production

China is poised to ramp up coal production amid a significant surge in electricity demand. With central and northern China experiencing a historic heat wave, millions of Chinese residents in Hubei, Henan and Shandong provinces have been turning to their air conditioners to keep the heat at bay. Last week, numerous cities in Shandong warned residents to stay inside as heat levels soared past 40oC. Since the region is home to more than 100 million people, its electrical grid saw an upsurge in electricity consumption as people stayed indoors and turned on their air conditioners. In the neighboring Hubei province,…

WednesdayJun 29, 2022 1:02 pm

New US Initiative Helps Ensure New Sources of Important EV Minerals

The State Department has begun an initiative that would act as a middle point between resource-rich countries and American companies that would like to invest in resource-rich countries but are afraid to take the plunge. During a recent visit to Cape Town, South Africa, for a mining conference, Under Secretary of State Jose Fernandez heard from several countries that would love foreign investment to help kickstart the mining of crucial EV minerals such as cobalt, manganese and lithium. However, mining companies that are keen on tapping into these mineral reserves revealed that they were hesitant to invest in these countries…

TuesdayJun 28, 2022 1:48 pm

Invesco Analyst Maintains Bullish Outlook for Gold Despite Interest Rates Hike

For decades, gold has proven to be a safe-haven asset capable of weathering economic downturns without significant price-reductions. Now that the global economy is in a slump and is predicted to enter a recession in the near future, analysts say that gold still remains a solid investment even after the Federal Reserve hiked interest rates by the highest percentage since 1994. Invesco’s chief investment strategist Kristina Hooper stated in a recent interview that even though the Fed had raised interest rates by 75 basis points, the largest hike in almost three decades, gold prices will stand their ground. The Fed’s…

MondayJun 27, 2022 2:41 pm

UN Experts Call for More Transparency in Gold Trade to Address Violence in Congo

An independent group of experts from the United Nations is calling for more transparency in gold trade in the wake of increased smuggling and violence in the gold mines in the Democratic Republic of Congo. UN experts have announced that governments need to make their gold trade data public to help combat this menace after dozens of people were killed during a gold mine raid in Northeast Congo. According to a report from the organization, armed groups and security forces have been involved in interethnic fighting over control of gold deposits. There has also been widespread smuggling of minerals across…

FridayJun 24, 2022 2:15 pm

Wyoming’s Nuclear Industry May Benefit from Ukraine War

Wyoming’s once-booming uranium industry could be poised for a resurgence due to the geopolitical fallout of the Russia-Ukraine war. Once the largest in America, the uranium industry in Wyoming operated several mines and employed thousands of workers. However, the industry was hit hard by a drop in uranium prices in the 1980s coupled with cheap imports from Europe and Asia. However, industry experts predict that uranium mines in Wyoming could soon resume operations if the government places sanctions against Russian uranium. Uranium Energy Corp.’s executive vice president Scott Melbye stated that the United States had substantial natural reserves of uranium,…

ThursdayJun 23, 2022 10:20 am

Researchers Find Copper More Effective in Killing COVID Viruses

New research from Ruhr-University Bochum has revealed that copper has the ability to kill covid viruses much more effectively than silver. Researchers have found a way to make these two metals release more ions than they would have due to corrosion, a process that makes them more deadly to bacteria. The researchers published their findings in the “Scientific Reports” journal. This procedure, which is referred to as a “sputtering system,” allows researchers to apply an extremely thin layer of metal onto a carrier material using different quantities of the metal layer, which results in a variety of surface textures. Applying…

WednesdayJun 22, 2022 3:38 pm

The Top 10 Gold Mines Around the World

Gold has always been used as a safe haven asset, particularly in times of economic upheaval, as the metal maintains its value during these periods instead of depreciating. With the global costs of living rising and the economy on the brink of a recession, gold mining companies could be making a killing as demand for gold rises. Data from the World Gold Council shows that the top-10 gold producers in the world accounted for 12%, or 13 million ounces of worldwide gold production last year. These mines are situated in nine countries across Africa, Asia, North America and Oceania. The…

TuesdayJun 21, 2022 10:17 am

Copper’s Outlook Dims as Threats Increase

CRU Group, a business intelligence company, believes that copper’s outlook may not be as bright as we thought, thanks to a myriad of market risks. While speaking at a mining conference in Toronto, the CRU Group director of copper research and strategy Vanessa Davidson stated that these threats could stand in the way of copper’s growth at a time when the world needed the metal to help wean itself off of fossil fuels. During her remarks, she listed some threats, which included reduced gross domestic product (GDP), reduced industrial production caused by geopolitical upheaval, increasing rates of inflation and the…

FridayJun 17, 2022 12:23 pm

U.S. Government Wants Billions Allocated to Wean Itself Off Uranium from Russia

Russia’s invasion of Ukraine has had negative geopolitical consequences that will last for years. As countries around the world raced to place sanctions on Russia for its unprovoked invasion, it became pretty clear that the energy sector was bound to take a major hit. Russia, which is a major supplier of uranium, provides an estimated 35% of the world’s enriched uranium. In 2020, the Eastern-European country was the second-largest supplier of uranium to the United States, accounting for 16.5% of the country’s uranium imports and supplying about 23% of the uranium imports the nation needed to power its commercial reactors.…

ThursdayJun 16, 2022 3:40 pm

Coal to Solar Scheme Awards Grants for Almost 300MW of Energy Storage

On average, coal power plants generate around 45% of America’s electricity. Coal is one of the cheapest and most abundant sources of electricity, allowing energy providers to generate electricity at relatively little cost. However, coal is also one of the largest emitters of carbon on the planet. In a bid to arrest greenhouse gas emissions, entities around the world are moving away from coal to more renewable sources of energy. In Illinois, for example, the state government is incentivizing the transition from coal power to green electric energy by providing companies with millions of dollars in grants. The state will…

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Month: June 2022