December 2022 - MiningNewsWire

ThursdayDec 29, 2022 12:34 pm

Three US Firms Win Contracts to Supply Uranium Strategic Reserve

The U.S. Department of Energy’s National Nuclear Security Administration (NNSA) has awarded a trio of companies with contracts to supply the country with domestically produced uranium oxide. The aim is to boost local uranium production to such a degree that the United States is not reliant on overseas suppliers for critical imports such as uranium. Even though the Russia-Ukraine conflict may end in the next couple of months, the effects of this war will reverberate across the globe for quite a while. By the time the Kremlin invaded Ukraine, Russia had embedded itself in crucial industries such as natural gas,…

WednesdayDec 28, 2022 11:41 am

EU Eases Restrictions on Fertilizer Exports Imposed on Russia

The European Union recently announced that it was easing the sanctions levied on Russian fertilizer exports. While the move would undoubtedly ease the pressure on fertilizer prices and reduce farming costs from producers around the world, it has been met with rebuke from Ukraine. The decision was preceded by a fight between Western European nations that were looking to reduce the restrictions placed on Russian fertilizer exports and Eastern European nations that wanted to maintain the sanctions. The six Western European nations argued that the intermediaries tasked with handling shipments of Russian fertilizer stuck in ports could be held liable…

TuesdayDec 27, 2022 2:04 pm

IEA Expects Global Coal Use to Hit New High

A new report expects that the use of coal globally will increase by more than 1% this year to exceed 8 billion metric tons for the first time ever. The use of coal has a significant impact on the environment, given that burning coal is the most polluting way to produce energy. Burning this fuel leads to the emission of carbon dioxide as well as toxic and carcinogenic substances into the air, land and water. The U.S. Energy Information Administration has listed other emissions from coal combustion, which include sulfur dioxide, nitrogen oxides and particulates. The International Energy Agency (IEA)…

ThursdayDec 22, 2022 12:28 pm

Why Investors May Benefit from Going Long on Silver

Precious metals such as silver and gold have traditionally seen a spike in demand during economic downturns. Their ability to maintain their value during periods of political and economic uncertainty makes them extremely attractive to investors who are looking to preserve the value of their assets and investments. However, a surging dollar coupled with consecutive interest rate hikes by the U.S. Fed kept silver prices in check for a significant portion of the year and eroded some of its appeal as a safe haven asset. Even so, there are signs that silver may rally in 2023 and even achieve the…

WednesdayDec 21, 2022 11:25 am

Challenges the Energy Transition Poses to Critical Mineral Industry

The world’s transitioning from the use of fossil fuels in favor of clean energy will advance the development of energy-storage technologies while also limiting greenhouse-gas emissions globally. The primary goal of the transition is to mitigate climate change, as stipulated in the 2015 Paris Agreement. Achieving this will require considerable investments from both public and private entities, the use of technological innovations and various regulatory interventions. Renewable energy-generation technologies and electric cars are some of the technologies required in this transition. These technologies require substantial amounts of critical minerals, which mean the demand for critical minerals is expected to increase…

TuesdayDec 20, 2022 1:45 pm

US Exports of Coal to Europe Jump 46%

Coal plants produce one-fifth of global greenhouse gas emissions, which means that this fuel has a greater adverse impact on the environment than any other source. We have seen many countries, especially in Europe, reduce their use of coal in favor of cleaner energies in the recent years. However, the ongoing transition from fossil fuels was not helped by the current energy crisis, and with not enough infrastructure to meet the growing demand for power, many countries reverted back to using coal. This can be seen in coal exports into Europe from the United States, which have grown by more…

TuesdayDec 20, 2022 10:30 am

Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) Nears Completion of Maiden Exploration Works; Executive VP, Bill Pearson Expresses Optimism During Recent BTV Interview

Eloro Resources’ Executive VP of Exploration, Bill Pearson was recently featured on BTV During the interview, Pearson revealed his optimism surrounding the company’s ongoing exploratory works within Bolivia’s Iska Iska project Eloro Resources have now drilled over 70,000 meters cumulatively across 102 holes whilst employing five drills The company is now working towards publishing its maiden mineral resource estimation report alongside its NI 43-101 Two years ago, Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec, was taking its initial steps…

MondayDec 19, 2022 11:24 am

Gold Rallies on Lukewarm U.S. Consumer Price Index Data

The past couple of months have been hard on precious metals such as gold, which usually fared well when the economy falters. Traditionally in high demand during times of economic upheaval because its value generally does not diminish, gold has seen its performance drop amid increasing inflation and a surging dollar. However, projections for the last few months of the year and 2023 have been hopeful, stating that gold will perform much better than it has in 2022. Last week, gold and silver saw prices in the United States surge after officials released a lukewarm Consumer Price Index (CPI) data…

FridayDec 16, 2022 12:56 pm

Glencore Foresees Huge Copper Deficit in Short-Term

During its latest investor update, Glencore stated that it expected to see a big shortage in copper soon. This deficit has also been pointed out by other industry players, with the multinational commodity trading and mining giant noting that a copper supply crunch could slow the clean energy transition. Glencore CEO Gary Nagle stated in the company’s presentation that while commodity shortages were looming, the current price was not reflecting this change. Based on the International Energy Agency’s net-zero emissions pathway, the mining company estimates that between 2022 and 2030, the world will be more than 50 million tons short…

ThursdayDec 15, 2022 1:52 pm

2023 National Defense Authorization Act Targets Russia’s Gold Reserves

Russia invaded Ukraine in February of this year, causing a standstill in energy exports for months and leading to the current energy crisis in Europe. Last week, the U.S. House of Representatives approved the annual National Defense Authorization Act, which will increase the Department of Defense’s spending to $857.9 billion in fiscal year 2023. The spending legislation authorized $30.3 billion for national security programs in the Department of Energy and $816.7 billion for the defense department. It also includes an amendment that will make it harder for Russia to use its gold reserves. Under the proposed bill, any entities in…

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

Contact us: (310) 299-1717

Month: December 2022