August 2022 - Page 2 of 3 - MiningNewsWire

WednesdayAug 17, 2022 12:46 pm

Barrick Gold CEO Says Mining Industry Should Expect More Inflation

The global economy has faltered in the past couple of years due to the COVID-19 pandemic, strained supply chains, shortages and the fallout from the Russia-Ukraine war. In June, the UN predicted that inflation would rise to 6.7% in 2022, more than twice the average inflation levels recorded from 2010 to 2020. Several industries have been affected by the rising inflation levels, with sectors such as mining being especially affected. Mining companies have reported increased operational costs due to bottlenecks in the supply chain, rising shipping costs and rising prices for critical mining inputs such as steel. Mining executives reported…

TuesdayAug 16, 2022 2:54 pm

Analyst Says Current Company Valuations, Prices Unfavorable for Increasing Copper Production

The International Energy Agency predicted in its 2017 World Energy Outlook that by 2040, China may have exceeded the European Union’s energy consumption. In the report, the agency stated that electricity was the rising force among global end uses of energy, noting that it would make up 40% of the increase in final consumption by 2040. To help produce and distribute electricity in this new world, a recyclable and durable metal that possessed good electrical conduction properties would be needed. This is why many expect that as the world enters a new era of technological innovation and international industrialization, the…

MondayAug 15, 2022 1:10 pm

Scientists Successfully Kill COVID-19 Virus Using Copper Nanoparticle Spray

In late 2019, scientists from Wuhan, China, announced the discovery of a novel coronavirus that was highly communicable, had flu-like symptoms, and seemingly had no cure. The virus quickly spread to the rest of the world, infecting more than 500 million people globally and taking more than 6 million lives. More than two and a half years after the pandemic started, scientists have found a way to effectively kill the COVID-19 virus with a copper nanoparticle spray. A research team comprised of individuals from Ames National Laboratory, the University of Buffalo and Iowa State University has managed to develop an…

FridayAug 12, 2022 1:58 pm

Coal Imports in China Grew 24% in July as Summer Energy Demand Grows

Right up until Russia invaded Ukraine and exacerbated the global energy crisis, most developed countries were firing down their coal power plants in favor of cleaner sources of energy. Coal is the largest source of carbon emissions on the planet, and supplementing it with cleaner alternatives would go a long way toward combating runaway climate change. However, the Russia-Ukraine war forced plenty of European countries to turn back to coal as Russia cut its oil and natural gas exports to the rest of Europe. But while Western countries steadily reduced their imports of Russian coal, even though it was heavily…

ThursdayAug 11, 2022 12:47 pm

Westinghouse, EDF to Study How Accident-Tolerant Nuclear Fuel Can Best Be Utilized

Although nuclear energy is often seen as a dangerous energy source, especially in the wake of the Fukushima and Chernobyl nuclear disasters, the chances of a nuclear reactor accident happening are astronomically low. In the decades since more than two dozen countries have begun using nuclear energy, these have been the only two major incidents, underlying the low risk levels associated with nuclear reactors. The enhanced safety is partly due to advancements in technology that have made it possible to design components that minimize accident risk while maximizing response times. Accident-tolerant fuel, which refers to new fuel pellet and cladding…

WednesdayAug 10, 2022 2:27 pm

Glencore Announces Huge Profits as Coal Prices Skyrocket

Last week, Glencore announced that it had raked in more than $18 billion in profits during the first half of this year. This figure, the mining and commodities trading company stated, could be attributed to its thriving thermal coal business and was more than double its 2021 profit for the same period. Glencore CEO Gary Nagle stated that higher rates of interest, a global economic slowdown and inflation would likely decrease its earnings in the second half of 2022. He noted, however, that Glencore’s long-term commodity outlook remained positive. The company predicts that its adjusted earnings for the year will…

TuesdayAug 09, 2022 1:53 pm

Europe Considers Switching to Manure as Sanctions Cut Off Fertilizers from Russia

Most experts, from the World Bank to leaders in key industries, believe that the geopolitical and economic effects of Russia’s unprovoked invasion of Ukraine will last for some time. The war in Ukraine has exacerbated the global energy crisis, caused food prices worldwide to soar and presented a significant risk to the worldwide economy. Sanctions against Russia, which is a top energy producer, have forced European countries to revert back to coal and increased fears of an energy deficit, especially as the ban on Russian coal rapidly approaches. Another key Russian export that has been subject to bans is fertilizer.…

MondayAug 08, 2022 2:24 pm

Shortage of Coal Looms in Europe as Ban on Russian Imports Nears

The Russia-Ukraine war has had a significant impact on the global energy space. Given that Russia is a major player in the energy industry, sanctions meant to harm its war effort in Ukraine have had untold consequences on energy and food prices. Chief of those consequences resulted from Russia’s decision to reduce oil and natural gas exports to Europe in retaliation for Western sanctions. This forced several countries to turn back to coal for energy production, a move that irked clean-energy advocates who argued that these nations were turning back on their green-energy pledges. Although European countries that were short…

FridayAug 05, 2022 10:30 am

Mining Executive Believes Uranium Will Help Tackle Energy Crisis

The world is in the midst of an energy crisis. Energy prices have soared in the past few months, putting immense stress on household budgets, industries and entire economies. Russia’s unprovoked invasion of Ukraine has also had a major impact on the global energy space, pushing oil and gas prices to historically high levels and forcing many countries to go back to coal for energy production. With no end in sight for the energy crisis, one mining executive believes that nuclear energy will play a major role in finding a solution to the crisis. The world will not be able…

ThursdayAug 04, 2022 12:24 pm

India Unveils First Transnational Bullion Exchange Aimed at Fostering Transparency

Last week, the Prime Minister of India, Narendra Modi, launched the country’s first global bullion exchange in an effort to facilitate transparency within the precious metals market. This will make it easier for small jewelers and bullion dealers to trade in the market and lead to uniform pricing for gold in the country. In a statement at the inauguration, Modi said that India was laying strong claim in the global financial services sector through this exchange launch. While the National Commodity and Derivatives Exchange and the Multi Commodity Exchange provide gold futures contracts in India, there wasn’t any physical exchange…

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Month: August 2022