November 2022 - MiningNewsWire

WednesdayNov 30, 2022 1:14 pm

Could Rising Uranium Prices Be Affecting Nuclear Energy Plant Profitability?

According to data from HANetf’s Sprott Uranium Miners, uranium has been one of the best-performing asset classes of 2022, with October being an especially good month for the metal. The fund revealed that uranium spot prices went up by 24.12% over the year until Oct. 31, going up by 8.32% in October alone while the rest of the commodities market saw a gain of just 1.67%. Uranium, which is the primary fuel for nuclear power reactors, has seen its demand increase in recent years as countries step up their electricity generation efforts to meet surging local demand. With several western…

TuesdayNov 29, 2022 12:45 pm

Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) Carries Out Exploratory Drilling Work at Iska Iska Project; Receives Mention by Brent Cook as Showing ‘Great Potential’

Bolivia’s Potosi region has long been one of the world’s most prolific silver deposits, with continuous mining operations taking place over the past 500 years Eloro Resources possesses a 99% option agreement on the Iska Iska deposit, a major polymetallic epithermal porphyry complex covering over 900 hectares of land Eloro Resources was recently highlighted by renowned mining analyst, Brent Cook during his appearance on the Wall Street Silver podcast Eloro’s Iska Iska project was characterized as a polymetallic mining project possessing great potential due to its size as well as the mining team’s technical nous The discovery of Bolivia’s Potosi…

TuesdayNov 29, 2022 10:50 am

Is Gold a Good Buy at This Moment?

For the longest time, precious metals such as gold and silver have been in demand during economic upheaval as they allow investors to protect their assets from devaluation. However, recent economic developments have made gold less attractive to investors despite a faltering economy that should have significantly increased the demand for the metal. This is mainly because moves by the U.S. Federal Reserve and central banks around the world to arrest inflation by hiking benchmark interest rates increased the opportunity cost of holding gold bullion. Furthermore, the fact that gold pays no interest means that investors would not be able…

MondayNov 28, 2022 10:26 am

Slowing Inflation Positively Influencing Gold Prices

The global economy has struggled over the past couple of years. The coronavirus pandemic was the first major blow, forcing plenty of countries to institute lockdown policies and significantly slowing economic activity. The global economy was a long way from recovering as the pandemic wound down and countries began opening up when Russia invaded Ukraine. Given that both countries are major players in industries such as energy and food production, the Russia-Ukraine war has caused economic conditions around the world to significantly deteriorate. This mix of conditions impacted the prices of gold to go down; traditionally gold prices have acted…

WednesdayNov 23, 2022 10:30 am

BLM Greenlights New Drill Pads at Arizona Metals Corp.’s (TSX: AMC) (OTCQX: AZMCF) Kay Mine Project, Company Readies for 94,000 Meters of Drilling

Arizona is one of the most attractive mining jurisdictions in the world and hands down the biggest producer of copper in the U.S. Arizona Metals’ flagship project, Kay Mine, is surrounded by 60 past producing underground VMS copper-gold-zinc-silver mines 72,000 meters have been drilled to date in Phases 1 and 2 at Kay Mine, to prove historic resource estimates and with CDN$60 million in the bank, Arizona Metals is ready to complete Phase 2 and initiate Phase 3 drilling now that Bureau of Land Management (“BLM”) has approved drill pads Arizona is the United States’ largest producer of copper without…

WednesdayNov 23, 2022 10:25 am

LME Reprieve Sends Russian Firms Scrambling to Sell Metal Stocks

In the wake of Russia’s unprovoked invasion of Ukraine, several Western countries passed a series of sanctions against the Kremlin to weaken its economy and slow down its war effort. The effects of these sanctions, coupled with a general unwillingness among foreign companies to work with Russian companies, led to a slowdown in supply deals for various metals. Russia is a major player in the global mining industry, producing a large chunk of the world’s iron, gold, nickel, diamond, platinum, palladium and platinum. Amid sweeping bans on Russian exports, the London Metal Exchange recently announced that it would not ban…

TuesdayNov 22, 2022 1:15 pm

German Chemical Park Stockpiles Coal to Safeguard Production Continuity

Like several other European Union countries, Germany is turning back to coal to generate power as the winter fast approaches. Before Russia invaded Ukraine, Germany and several other countries across the EU had been working to shut down their coal-fired power plants in favor of greener options such as solar and wind power. However, Germany is now actively working to build its coal stockpiles as the global energy crunch gets worse amid worsening economic conditions and a fast-approaching winter. The Russian-Ukraine war has led to one of the worst energy crises in Europe and the world at large in decades.…

MondayNov 21, 2022 2:42 pm

Nuclear Industry Revives as Interest Grows, But New Mining Projects Aren’t Materializing

Dozens of countries worldwide have pledged to transition away from dirty fuels such as coal and oil as part of global efforts to arrest climate change and global warming. Although solar, wind and geothermal energy are already poised to play a significant role in the green energy transition, nuclear energy hasn’t received as much attention. Over the past couple of decades, many countries that have nuclear power plants have steadily shut down their nuclear reactors amid increasing fears of nuclear accidents and their fallout. However, recent geopolitical events have forced these countries to go back to the drawing board and…

FridayNov 18, 2022 11:28 am

IFAD Warns That Smallholder Farmers Will Be Hit Hardest by Skyrocketing Fertilizer Prices

Over the past year, worsening geopolitical and economic conditions have significantly increased input prices and impacted critical industries such as fertilizer. Fertilizer prices had begun surging by the end of 2021, with farmers in some areas reporting that fertilizer costs were up by more than 300% and delivery was rarely on time. By March 2021, media outlets were reporting that fertilizer prices were at record highs due, in part, to the Russia-Ukraine war and a host of other factors. These high prices have been accompanied by a supply crunch that has pushed fertilizer costs even higher and threatened to cause…

ThursdayNov 17, 2022 1:41 pm

US Plan to Phase Out Coal Receives Mixed Reception at COP27

Like most developed countries, the United States is keen on cutting its carbon emissions by phasing out dirty fuels such as coal and gasoline over the next few decades. Climate change is becoming increasingly apparent, with global warming causing extreme weather events around the world as well as droughts that are expected to cause a major food crisis. However, transitioning from fuels such as coal won’t be cheap; developed countries have spent decades building systems that rely on fossil fuels, and it will take significant investment to develop infrastructure for renewable energy. The U.S. has proposed a controversial plan to…

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Month: November 2022