June 2022 - Page 2 of 3 - MiningNewsWire

WednesdayJun 15, 2022 12:47 pm

America Tells Global Climate Conference That Continuing Coal Use Puts World in Jeopardy

Currently, coal provides more than 35% of the world’s electricity. It was largely responsible for the Industrial revolution and allowed us to generate electricity and mass-produce commodities; In addition, it provided fuel for transport. However, coal is also responsible for a significant percentage of global greenhouse gas emissions. Burning coal produces more than 700 million metric tons of carbon dioxide every year in the United States alone. Using coal as an energy source is also associated with environmental impacts such as acid rain, smog, ground-level ozone and particulate emissions. Speaking at the Bonn Climate Conference, U.S. Envoy on climate change…

TuesdayJun 14, 2022 3:52 pm

Production of Coal in Virginia on the Rise

The production of coal in the state of Virginia is high and still growing, driven by the rising demand for steel as America focuses on infrastructure investment. Virginia mainly produces metallurgical coal, which is primarily used in steelmaking. President of the Metallurgical Coal Producers Association, Ben Beakes, stated that the demand for metallurgical coal was increasing, noting that current levels were some of the highest the industry had seen in a couple of years. Data from the U.S. Energy Information Administration shows considerable increases in coal production in Virginia, with its latest weekly report showing that the state’s coal production…

MondayJun 13, 2022 1:53 pm

Why the Price Rally for Gold May Not Slow Down This Year

Gold prices have been on the rise for the past couple of months, and all indications are that this rally won’t be stopping any time soon. Several factors, including geopolitical unrest, increasing inflation and talk of an impending recession, have increased gold’s traditional appeal as a safe haven. Speaking at a precious metal conference held in Singapore, Silver Bullion Pte founder Gregor Gregersen said that we are in for a duration of stagnation after decades of significant deficit spending coupled with super-loose monetary policy decisions. Although Russia’s invasion of its former ally Ukraine didn’t stop a 10% drop in the…

FridayJun 10, 2022 12:10 pm

National Lab Director Believes Energy Can Be Harnessed from Nuclear Waste to Power Reactors

Idaho National Laboratory’s associate lab director Jess C. Gehin believes that there exists enough energy in nuclear waste in America to power the whole nation for a century. This, he says, could help solve the issue of how to dispose of nuclear waste. A fast nuclear reactor, which is the technology required to convert nuclear waste into energy, was developed decades ago. However, for economic and political reasons, this technology was never developed at a commercial scale. Now, however, as the urgency to address climate change through the decarbonization of energy grids increases, interest in fast nuclear reactors has surged.…

ThursdayJun 09, 2022 3:30 pm

Study Finds That Eliminating Use of Coal Would Yield Social Benefits

New research has found that phasing out the use of coal through the use of renewable energy would be good for the society. The study, which was carried out by researchers at the Imperial College School of Business, stated that the transition to green energy from coal would result in about $77.9 trillion in benefits for the society. These benefits include decreased harm to people’s health and individuals dealing with less fallout from climate change. The investigators calculated the social benefit from phasing out coal and the cost of replacing coal with green energies to determine an approximation of the…

WednesdayJun 08, 2022 1:24 pm

Jewelers Finding It Hard to Source for Gold During War Time

Following Russia’s invasion of Ukraine earlier in the year, it has become increasingly difficult to obtain raw materials such as diamonds and gold for makers of luxury watches and jewelry. Data from the World Gold Council show that Russia is the largest producer of natural diamonds globally, as well as the second-biggest miner of gold in the world. Earlier in March, the Cartier maker stated that it had not been purchasing diamonds mined in Russia, reaffirming in its recently released sustainability report that it wasn’t purchasing recycled gold from the Eastern European country either. Recycled gold is under investigation currently…

TuesdayJun 07, 2022 12:08 pm

Goldman Sachs Predicts Extreme Copper Supply Crunch

Nick Snowdon, a metals strategist at Goldman Sachs, recently stated that predictions on copper supply issues in the long term were potentially right and would probably cause the metal’s price to reach $15,000 per ton. The demand for copper is expected to rise significantly over the next 10 years as demand for electric cars, electricity infrastructure and renewable energy increases alongside international targets for reductions in carbon emissions. The new supply cannot meet the increasing demand, however, with the significantly low supplies of the red metal held in exchange warehouses only worsening the issue. Snowdon added that while the 2000’s…

MondayJun 06, 2022 2:39 pm

How You Can Profit from Gold Extractors M&A Deals

Over the last 10 years, the price of gold has returned more than 15% annually in terms of the U.S. dollar. However, shares in companies that produce the precious metal have found it hard to keep pace with the value of the commodity. Newmont Corporation (NYSE: NEM) (TSX: NGT) and Barrick Gold, two of the biggest miners of gold globally, have returned about 4.6% and -5.1% per year respectively over the last decade. These figures are inclusive of dividends. An equally weighted basket of stocks from both firms would have returned -0.2% per year. Over the last few decades, the…

FridayJun 03, 2022 11:47 am

Commodities Rally as Coronavirus Cases Drop in China

The Chinese government recently started loosening restrictions imposed when coronavirus infections were high. The relaxing of these restrictions, which had been choking the country’s economy, allowed industrial commodities to rise. The virus is now considered to be under control in Beijing, with officials in Shanghai outlining their plan to revive the municipality after a two-month lockdown in the hopes that the virus will soon be under control in the region as well. The revival measures include making the purchase of cars cheaper, accelerating approvals for properties, and allowing the restart of manufacturing and all other metal-intensive areas, which were significantly…

ThursdayJun 02, 2022 2:57 pm

DOE Asks Congress to Fund Domestic Uranium Enrichment

Jennifer Granholm, the U.S. Secretary of Energy, is seeking funding from Congress that will be used to establish a domestic source of enriched uranium. In the letter, requesting the funds, the Department of Energy stated that America’s reliance on imports from Russia created a vulnerability to the country’s economic and national security. This letter comes as Western nations continue imposing sanctions on Rosatom Corp. in response to Russia’s invasion of Ukraine. Rosatom Corp. is the Russian state’s atomic energy company and the biggest supplier of nuclear reactors and nuclear fuel globally. Russia is also one of the largest suppliers of…

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Month: June 2022