July 2023 - MiningNewsWire

MondayJul 31, 2023 12:01 pm

Faced by Drought, China Looks to Coal to Provide Ample Energy

Unusually dry conditions in China are forcing the country to fire up its coal power plants to supply its energy needs. The world’s largest polluter has been feeling the effects of global warming in recent years amid extreme weather events, including heat waves, forest fires, flooding and record-low rainfall. These events have put massive pressure on China’s energy system, forcing it to produce significantly more energy to supply the increasing energy demands of the country’s households. At the same time, China has also been forced to contend with a global energy crisis that reduced energy supplies while significantly increasing its…

MondayJul 31, 2023 11:15 am

GEMXX Corp. (GEMZ) Is ‘One to Watch’

GEMXX has a qualified Regulation A offering in place to raise up to $6 million at $0.40 per share GEMXX’s net income for the three months ended December 31, 2022, increased to $182,992, as compared to $126,360 in the previous quarter The company’s most recent financial results filing continues to report positive net revenues for the year and no long-term debt In March 2023, GEMXX announced it had signed an Ammolite Master Supply Agreement with Canadian Ammolite Gems by Kenneth Bradley GEMXX (OTC: GEMZ) is a mine-to-market enterprise specializing in gold, gemstone, and jewelry production. With ownership of mining resources,…

MondayJul 31, 2023 10:30 am

Canada Nickel Company Inc. (TSX.V: CNC) (OTCQX: CNIKF) Reports ‘Outstanding’ Results from Midlothian Project Drilling

IEA projects EV sales to grow by 35% this year to reach 14 million Drilling results confirm Midlothian as a “significant discovery,” states CEO Testing was comprised of four drillholes, which were completed during winter 2023 With the electric vehicle (“EV”) market growing — and projected to increase even more in the coming years (https://ibn.fm/gRiIU) — demand for EV components, including nickel, is growing as well. Nickel is an essential material used in many EV batteries, and Canada Nickel Company (TSX.V: CNC) (OTCQX: CNIKF) is committed to increase its production to meet the growing demand. As evidence of that commitment,…

MondayJul 31, 2023 9:45 am

Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) Completes Surveys at Graphite Project as U.S. and Canada Align for Ex-China Supply Chain

North America is actively developing domestic graphite supply as part of the EV revolution to reduce dependence upon China, the world’s top supplier Reflex Advanced Materials is executing on a “mine-to-market” strategy where it will have integrated domestic operations to supply high purity natural graphite for hi-tech applications, including EV batteries Reflex recently completed a TDEM and magnetic helicopter survey on its Ruby Graphite property, which will deliver additional data to map the depth and extent of mineral deposits planned to be drilled this summer As it goes, China is currently the dominant player in the electric vehicle supply chain,…

FridayJul 28, 2023 11:26 am

Uncertainty Persists on Whether Precious Metals’ Rally Can Last

After several months of relatively lackluster performance, the precious metals market has rallied amid increased investor interest in gold and silver. These metals have traditionally attracted plenty of investor interest during times of political and economic turmoil because they do not depreciate and allow investors to preserve their wealth through economic events like inflation and recession. However, even though the global economy has been in turmoil for the past few years and the world is wracked with geopolitical tensions from the ongoing Russia-Ukraine war, precious metal prices have not gone up. This is primarily because consecutive interest rate hikes by…

ThursdayJul 27, 2023 1:34 pm

US Targets Russian Copper Firm to Cripple Kremlin’s War Chest

The U.S. government has levied sanctions on Russian copper company Ural Mining and Metallurgical Company (UMMC) as part of its ongoing efforts to cripple the Kremlin’s war chest. Ever since Russia invaded Ukraine in early 2022, the United States and its Western partners have sanctioned hundreds of Russian individuals and companies to harm the country’s war effort in Ukraine. As of writing, the U.S. had added an additional 120 entities and individuals to its sanction list, with the new additions meant to disrupt Moscow’s access to goods and electronics that are aiding its war with Ukraine. The U.S. State and…

ThursdayJul 27, 2023 9:00 am

Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) Poised to Benefit as Silver Stocks Slip into Deep Deficit

Global ambitions to achieve net zero status will necessitate a near tripling in annual clean energy investment Silver has emerged as a critical component of clean energy infrastructure due to its exceptional electric and thermal conductivity Nevertheless, a decrease in global silver production coupled with rising demand has left the precious metal in deficit – with the market undersupplied by nearly 238mn tonnes in 2022 Eloro Resources’ Iska Iska deposit may be poised to emerge as a rare greenfield silver project with the company set to publish its inaugural NI 43-101 compliant mineral resource estimate Global warming has become an…

WednesdayJul 26, 2023 12:26 pm

Environmentalists Express Concerns About Deep-Sea Mining

The global transition to green energy has signaled the need for critical metals such as nickel and cobalt. Solar, wind and electric vehicle technology will require these metals in immense quantities to support worldwide climate change efforts for the next few decades. However, current supplies are dwindling, and the existing recycling infrastructure isn’t sufficient enough to extract enough metals from dead electric vehicle batteries. Even if this recycling infrastructure and policies support mass recycling, it may not be enough to supply the world’s increasing demand for minerals. Mining companies are now looking to a new and unexplored frontier to help…

TuesdayJul 25, 2023 12:37 pm

GAO Says Many US Companies Aren’t Submitting Conflict Mineral Data

A recent report from the Government Accountability Office has revealed that some American companies aren’t submitting conflict mineral reports detailing potential ties to illicit Central African minerals. According to rules instituted in 2014, American-traded companies have to file “conflict mineral” reports that state whether their products may contain tin, tungsten, gold or tantalum sourced from the Democratic Republic of Congo or its nine surrounding neighbors. The rules were part of the 2010 Dodd-Frank Act, passed in the wake of the 2008 financial crisis, and they require U.S.-listed firms to carry out due diligence on minerals bought from the DRC and…

TuesdayJul 25, 2023 9:00 am

Canada Nickel Company Inc. (TSX.V: CNC) (OTCQX: CNIKF) Reports Promising Results from Texmont Project Amid Forecast of Growing Demand

Report projects that demand for nickel from the battery industry is set to increase significantly Texmont testing delivers results that meet or exceed expectations The company has acquired 403 additional mining claims within the Texmont ultramafic trend With experts predicting that nickel metal will play a key role in the 2023 battery-grade market (https://ibn.fm/e8Ky4), Canada Nickel Company (TSX.V: CNC) (OTCQX: CNIKF) appears to be ideally positioned in the growing space. The company just released initial results from preliminary metallurgical testing at its Texmont Nickel Sulphide Project, and the results meet or exceed historical results (https://ibn.fm/NpwuL). Nickel metal has a key…

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Month: July 2023