May 2023 - Page 2 of 4 - MiningNewsWire

MondayMay 22, 2023 10:30 am

Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Targets Beijing Influence Over Global Rare Earth Industry; Doubles Down on its North American Investment

China currently commands approximately 90% of rare earth metals, alloys, and permanent magnets, along with 85% of the world’s rare earth oxides This dominance has seen Beijing demonstrate a willingness to leverage it in pursuit of political objectives Countries have resorted to looking elsewhere for the supply of rare earths, and Ucore is building to satisfy that demand in North America Its recent announcement of a $75 million investment in CapEx over the next four years reflects the company’s understanding of the North American REE market and the value that the investment will create for its shareholders Ucore Rare Metals…

FridayMay 19, 2023 11:14 am

Price of Copper Surges in China Following Central Bank’s Liquidity Injection

Earlier this week, the price of copper increased as the People’s Bank of China injected liquidity into the market, which helped the red metal recover from a new low while also showing support for the country’s economy. On the London Metal Exchange, benchmark copper rose 1% to reach $8,333 per ton. This comes after the metal hit $8,136.50 per ton, its lowest price since November 2022. Aluminum on the exchange also rose by more than 1.5% to reach $2,266/ton, after on-warrant stocks in warehouses registered with the LME dropped to a 3-month low of 373,025 tons. In addition, other metals…

ThursdayMay 18, 2023 3:25 pm

South Africa Launches Investigation into Gold Smuggling Ring

Last month, Al Jazeera conducted an investigation into gold smuggling in Africa. The investigation, which was recorded as a four-part series, uncovered a money laundering and gold smuggling scheme in Zimbabwe and South Africa. The investigative videos uploaded on YouTube show the inner workings of this gold mafia as well as the kingpins who run the show. In a recent speech to parliament, South Africa President Cyril Ramaphosa revealed that the country had began its own investigation into the matter. Ramaphosa stated that preserving the financial system’s integrity was of utmost importance, adding that the investigation was in the inquiry…

WednesdayMay 17, 2023 3:13 pm

Why Investing in Gold Now May Be Good Idea

Gold has always been used as a safe haven asset, especially during times of uncertainty or rising inflation. This is primarily because the precious metal retains its value and helps investors limit exposure to loss during market turbulence. During the coronavirus pandemic, which affected economies globally, gold became a favorite of investors. During the last three years, the precious metal has surged 18%, and it has risen by 41% in total over the last decade. Additionally, one poll determined that one-quarter of Americans consider gold a good asset to invest in long-term. The price of gold is set to hit a…

WednesdayMay 17, 2023 9:00 am

Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Bets Big on the Rare Oxide Market; Grants Stock Options and Announces $75 Million Investment into Flagship REE Separation and Purification Facility

Ucore has set out to capitalize on critical mid-market separation of REE through its transformative RapidSX(TM) technology in a bid to address China’s dominance in the rare oxide market The company is confident in its approach and has even committed to investing $75 million in CapEx over the next four years to establish North America’s first modern REE separation and purification facility Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a critical metals (“CM”) separation technology company, understands the potential of the rare oxide market and the stake that China currently holds. According to CEO Pat Ryan, this industry is expected…

TuesdayMay 16, 2023 3:43 pm

India May Soon Stop Construction of New Coal Plants

Sources have revealed that India may be planning to halt construction of new coal-fired power plants by eliminating a certain clause from its National Electricity Policy. If the final draft of this policy is approved after this change is made, China would become the only economy in the world open to increasing its coal-fired capacity. Currently, China and India make up roughly 80% of all active coal projects in the world. This comes at a time when most developing nations are reducing their capacity in an effort to meet their set climate targets to reduce CO2 emissions. Data from E3G…

MondayMay 15, 2023 3:49 pm

Countries with Most and Least Gold, Cash Reserves

The coronavirus pandemic, the climate crisis and banking turbulence are only a few of the crises affecting countries around the globe. In an effort to keep their economies afloat and continue importing needed goods, nations have depended on their foreign reserves. At the start of the pandemic, governments used their gold and cash reserves to stay afloat, with countries such as Turkey recording a significant decline in gross foreign-currency reserves. Governments of nations with more reserves, such as the United States, Switzerland and Japan, have a larger safety net in the event of a crisis. Data from the IMF and…

MondayMay 15, 2023 10:30 am

Battery Mineral Resources Corp. (TSX.V: BMR) (OTCQB: BTRMF) Maintaining 2022 Momentum into 2023

“2022 has been a year of accomplishments,” reported Battery Mineral CEO in year-end summary Company anticipates “placing ourselves in a strong position to participate in a robust copper sector in 2023” So far this year BMR has announced key community and social initiatives at its Punitaqui Project and completed a policy, strategy and implementation guide Following a “transformational” year in 2022, Battery Mineral Resources (TSX.V: BMR) (OTCQB: BTRMF) is continuing to see significant growth and progress in 2023. In its 2022 summary to shareholders, the company recounted the year’s highlights and pointed toward an equally successful 2023 (https://ibn.fm/9vH3P). In the…

MondayMay 15, 2023 9:45 am

Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Looking to Bolster North American REE Dominance Amid China’s Move to Ban Rare Earth Metal Exports

Nikkei Asia has reported plans for China to amend its 2020 technology export restriction list with propositions to either ban or restrict exports of technology to process and refine rare earth elements These developments have encouraged both Washington and Tokyo to develop rare earth supply chains with little to no dependence on China Ucore has long been focused on growing North America’s REE self-reliance in response to these developments, and its recent announcement of a $75 million investment in capital expenditures (CapEx) over the next four years points to a company committed to helping North America achieve full autonomy and…

ThursdayMay 11, 2023 3:35 pm

Apple to Use 100% Recycled Cobalt in Batteries by 2025

Last month, Apple announced its new target to utilize 100% recycled cobalt in its batteries by 2025. This is in line with its plans to increase the use of recycled materials in its products. The company also revealed that by the same year, all printed circuit boards designed by Apple would use 100% recycled gold plating and tin soldering while magnets in all its devices would use recycled rare earth elements. Last year, Apple increased the use of recycled metals. Currently, the company sources more than 95% of all tungsten, almost three-quarters of all rare earth metals and more than…

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Month: May 2023