July 2022 - MiningNewsWire

FridayJul 29, 2022 11:52 am

How Effective Can Banning Gold from Russia Be?

Russia’s unprovoked invasion of Ukraine has resulted in a slew of economic sanctions from Western nations looking to harm its war efforts. These sanctions includes financial measures against Russia’s largest financial institutions, bans on Russian oil and natural gas, and sanctions against individuals and businesses that are thought to be close to the Kremlin. More than four months after Russian troops invaded Ukraine, some leading Western nations are now working on the details of a ban on gold exports from Russia. The ban is expected to receive formal approval by the end of the week after the United Kingdom, the…

ThursdayJul 28, 2022 11:18 am

Freeport Misses profitability Estimates Due to Falling Copper Prices

Freeport-McMoRan Inc. (NYSE: FCX) recently posted its released profit figures last week, which show lower figures than expected per estimates. This comes as the price for copper drops amid coronavirus lockdowns in China as well as widespread fears of a global recession. Freeport, which is said to be the largest publicly traded miner of copper globally, reported a net income of $840 million for the second quarter of this year. This is equal to about 57 cents per share and represents a drop from the almost $1 billion recorded in the same period last year. Refinitiv data also shows that…

WednesdayJul 27, 2022 12:21 pm

DOE Researchers Announce Breakthrough in Nuclear Fusion Technology

Scientists at the Princeton Plasma Physics Laboratory under the U.S. Department of Energy have made an advancement in nuclear fusion technology, which brings them closer to realizing their goal to harness limitless energy. Nuclear fusion occurs when light atoms are merged together to create charged particles, known as plasma, that in turn create enormous amounts of energy. This latest breakthrough will make initiating and maintaining nuclear fusion easier. Researchers have long been working to understand the mechanism that would allow them to harness nuclear energy. Scientists in this lab discovered that including resistivity’s physical property into a mathematical model that…

TuesdayJul 26, 2022 2:28 pm

Russian Coal Exports to China Increase by 22% Because of Low Prices

China increased its imports of coal from Russia by 22% in June as Russia reduced coal prices amid Western sanctions resulting from Russia’s invasion of Ukraine. Data sourced from the General Administration of Customs showed China imported 6.12 million tons of Russian coal in June, up from about 5 million in May. Currently the largest consumer of coal on the planet, China is also responsible for a significant amount of global carbon emissions. Ever since Russia invaded Ukraine, western countries have passed a series of sanctions against the European country to try and deter its war efforts. Given Russia’s position…

MondayJul 25, 2022 1:06 pm

Greenpeace Reveals That China Continues to Approve Coal Plants Despite Emission Commitments

Coal is a nonrenewable fossil fuel that is used by most countries in the West as well as Asia to generate electricity. When burnt, this fuel produces carbon dioxide, which contributes greatly to global climate change by trapping heat in the earth’s atmosphere and in turn warming the planet. Earlier this week, Greenpeace released a report confirming that China recently approved the construction of about 8.6GW of coal power in the first quarter of 2022, which represents almost one-half of the amount recorded last year. This approval comes as climate concerns increase amid rising global temperatures and dangerous weather events.…

FridayJul 22, 2022 12:53 pm

Nanofertilizers Set to Be Next Big Thing in Agriculture

For decades, the agriculture industry has used conventional fertilizers to increase plant yields by replacing soil nutrients and ensuring the soil has the right balance of nutrients. Researchers are now working on a class of fertilizers called nanofertilizers, which have the potential to revolutionalize agriculture. As the name suggests, the development of nanofertilizers leverages nanotechnology to create either synthesized nanofertilizers or modify traditional fertilizers by taking extracts from different reproductive or vegetative parts of the plant. Nanofertilizers can be quite effective at suffusing the soil with nutrients and increasing fertility, plant yields and raising the overall quality of agricultural outputs.…

ThursdayJul 21, 2022 11:56 am

Study Says Advanced Nuclear Reactors Could Lower Costs of Energy Transition

A new study by the Breakthrough Institute has found that advanced nuclear reactor commercialization can reduce the total cost of energy as America transitions to the use of clean energy. This report used a high-resolution model of America’s electricity sector to show how advanced nuclear reactors could play a significant role in reducing the cost to transition the power grid to clean energy by 2050. It should be noted that the study is based on the assumption that the first advanced reactors will have been deployed by 2030. The research examined three technological categories of advanced nuclear reactors: advanced reactors…

WednesdayJul 20, 2022 11:45 am

European Union Reduces Coal Imports from Moscow Ahead of Total Ban

In the months since Russia’s unprovoked invasion of Ukraine, Western countries have issued various sanctions against Russia to weaken its war effort. However, Russia is one of the world's largest producers of oil, natural gas and coal, supplying energy to many EU countries and America. This reliance on Russian energy means that efforts to sanction Russian exports could significantly impact the global economy. Even so, the European Union (EU) is gearing up to ban Russian coal amid the Russia-Ukraine war and a growing energy crisis. For this reason, the EU has significantly scaled back thermal coal imports from Russia as…

TuesdayJul 19, 2022 12:59 pm

How Does Gold Perform Amid Extreme Economic Turmoil?

Last month, the World Bank predicted a slowdown in the global economy, forecasting that economic growth would go down from 5/7% in 2021 to 2.9% in 2022. The World Bank warned that there was a compounded risk of global recession due to the Russia-Ukraine war and that less developed countries in East Asia and Europe were extremely likely to face a major recession. In such times of economic turmoil, investors often turn to assets such as gold to store their money. Thanks to its ability to retain value even during times of extreme upheaval, gold has been a popular safe…

MondayJul 18, 2022 12:04 pm

The Netherlands, Austria and Germany Begin to Use Coal Again Amid Energy Crisis

Late last month, the Netherlands turned back to the use of coal as the invasion of Ukraine, which sparked an energy crisis, rages on. The Dutch stated that they would lift restrictions on fossil-fuel powered stations, which had before then been limited to one-third of output. Vienna and Berlin also made similar announcements as Russia, which is facing sanctions over its Ukraine invasion, cut its supply of gas to Europe. Moscow’s invasion has sent prices for energy around the globe skyrocketing, which has in turn raised the likelihood of shortages if the chain of supply was to be interrupted. Gazprom,…

MiningNewsWire provides insights and opportunities in the mineral and mining sectors.

Contact us: (310) 299-1717

Month: July 2022