September 2022 - Page 2 of 3

MondaySep 19, 2022 11:06 am

Gold Gains Ground on Expectations of Huge Interest Rate Hike

Last week, the price of gold advanced to its highest figure since last month as expectations for an increase in interest rates rose. It is expected that later this month, the U.S. Federal Reserve will hike interest rates in a bid to curb inflation. Higher rates of interest dampen nonyielding assets such as gold, because they increase the opportunity cost of holding bullion. Meanwhile, the U.S. dollar diminished in value against its rivals, which made dollar-priced bullion less expensive for overseas traders. In a recent interview, Kitco Metals’ senior analyst Jim Wyckoff stated that the U.S. dollar index’s sharp drop…

FridaySep 16, 2022 2:39 pm

Chile Launches Investment Plan to Boost Weakened Economy

Earlier this week, the government of Chile led by President Gabriel Boric introduced a plan aimed at promoting investment into the country and spurring copper mining. Chile is the largest producer of copper in the world, making up 28% in global copper production. It is home to international copper giants, including Codelco, Antofagasta, Anglo American Glencore and BHP. The country is also the second-largest producer of lithium, occupying 22% of global production. The investment package, dubbed Invest in Chile, brings together public resources, management efforts and regulatory changes. It also calls for the private sector to invest and participate in…

ThursdaySep 15, 2022 12:11 pm

Drought in China May Worsen Global Shortage of Coal

Normally, late July and early August are the wettest months in southern China. This year, however, rainfall during this period was below normal with precipitation in the region since July remaining at 135 mm. This is significantly lower than the average annual precipitation of the region from 2014 to 2021, which stood at 464 mm. This drought has prompted an increase in the price of coal, as traders expect that more coal will be burned to meet the demand for electricity this winter as hydroelectric power generation dwindles. The country’s increasing consumption of coal may worsen the already present global…

WednesdaySep 14, 2022 11:54 am

Gold Prices Remain Dampened as Market Expects Fiscal Tightening

Despite its strong start last month, the gold market has yet to find consistent bullish momentum to push up the metal’s price. Market expectations for aggressive monetary policy action from the U.S. Central Bank continue supporting the dollar, which is weighing down the precious metal. While the price of gold remains below $1,750 an ounce, analysts expect that the metal’s price will soon increase. In a recent interview, Huw Roberts, Quant Insight head of analytics, stated that according to his company’s research, gold had broken its level of fair value and entered into a macro regime. Quant Insight uses advanced…

TuesdaySep 13, 2022 2:07 pm

Power Conversion Innovation May Boost Power Plant Efficiency

Energy efficiency has been a major talking point in recent years amid climate change, extreme weather events, and a global push for clean and renewable energy sources. Most current power plants, whether they rely on coal, nuclear energy or natural gas, convert heat into electricity via a process called the steam-based Rankine cycle. Despite being the go-to process for power generation in most if not all power plants, this process is extremely inefficient because approximately two-thirds of the energy is lost in converting steam back into water. With the world currently experiencing a major energy crisis, inefficiencies in power production…

MondaySep 12, 2022 1:45 pm

Australian Coal Prices Reach Record Levels as Energy Crunch Deepens

The Russia-Ukraine war has had a domino effect on global coal demand that could significantly benefit coal exporting countries such as Australia. With Russia, which is one of the world’s largest coal suppliers, essentially booted out of the global coal market, Australia has seen its coal prices soar. Before Russia invaded Ukraine, many European countries had began shutting down their coal-fired power plants in favor of cleaner energy sources. In the wake of Russia’s unprovoked invasion, plenty of countries condemned the attack and urged Russia to cease its war effort and withdraw from Ukraine. Furthermore, western countries issued a series…

FridaySep 09, 2022 12:25 pm

Hawaii Closes Last Coal-Fired Power Plant in Fight Against Climate Change

Last week, Hawaii closed its last coal-fired power plant after three decades in operation. The move to close this power plant, which produced one-fifth of the electricity on Oahu, comes after the islands received their last shipment of coal in July. The closure of this coal plant makes Hawaii the 11th state in the country with no coal-fired power facilities. States such as Vermont and Rhode Island have never had any coal-fired power plants. In a recent interview, Hawaii Gov. David Ige stated that the plant’s closure would help reduce greenhouse gases. Ige explained that the coal facility was one…

ThursdaySep 08, 2022 12:31 pm

Analyst Expects Silver Supply Crunch As Price Drops

Although gold prices have stabilized at just below $1,175 an ounce, silver has seen its fortunes dim in recent days. Prices for the metal dropped significantly toward the end of August, going down by more than 28% in value against the U.S. dollar since early March. On Aug. 20, 2022, silver prices dropped by 2.33% against the dollar in just 24 hours, signifying that the decline in silver metal prices may not be ending any time soon. Even so, David Morgan, founder of the Morgan Report, believes that there will be a supply crunch in the silver market that could…

WednesdaySep 07, 2022 12:18 pm

Energy Crisis Prompts China to Increase Investments into Coal

China has braved an energy crisis brought on by drought and scorching heat waves these last few months, with some parts of the country suffering power outages on a daily basis. It is said that increased coal import costs and reckless control of the domestic production of coal may have also affected energy supply in China. The crisis has seen the country focus on strengthening its energy security by increasing investments into coal-fired power stations in an attempt to meet demand. For decades, the country has tried to decrease its dependency on coal. During the announcement of its five-year plan…

TuesdaySep 06, 2022 11:47 am

Why Uranium Expected to Boom in Near Future

Fossil fuels such as crude oil, natural gas and coal have been used for more than a century, which makes them the biggest polluters of the environment as well as the biggest culprits of climate change. Unlike fossil fuels, nuclear energy is a zero-emission clean source of energy. This means that nuclear energy doesn’t produce greenhouse gases, which greatly contribute to climate change. Uranium is the most common fuel used in nuclear fission power stations to generate power. As the use of nuclear energy increases, uranium stocks are expected to boom. Below are some reasons to support the belief that…

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

Contact us: (310) 299-1717

Month: September 2022