NewsRoom Articles - Page 102 of 181

TuesdayJan 17, 2023 1:22 pm

Price of Copper Increases as China Reopens Border

China reopened its borders earlier this week, causing the price of copper to rise even further. This comes after it released an announcement on new investment in the country that caused an initial increase in the price of the red metal. China’s state media reported that the country’s southern manufacturing hub had more than 1,700 projects worth $945 billion planned for 2023. On the news, copper for delivery in March rose on the Comex market by 3%, to reach $8,866 per ton. The red metal was going for $4.03 a pound. On the London Metal Exchange, three-month copper recorded a…

TuesdayJan 17, 2023 9:45 am

Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) CEO, Thomas Larsen, Featured in Interview with Commodity TV During the Mines and More Conference

Eloro Resources’ CEO, Thomas Larsen recently attended the Mines and Money London conference as a featured speaker during the event. As part of the forum, Larsen participated in a one-on-one interview with Commodity-TV, during which he elaborated on the prospects of the company’s Bolivian silver – tin polymetallic project, Iska Iska With initial exploratory drilling analysis taking place on the site since September of 2020, Larsen expressed his optimism on the resource metal concentration within the Iska Iska project Eloro will look to publish its inaugural resource estimation by March 2023 prepared by Micon International Eloro Resources Ltd. (TSX.V: ELO)…

FridayJan 13, 2023 11:08 am

Kitco Survey Shows Retail Investors Expect Gold and Silver to Be Top Performers This Year

A new online survey conducted by Kitco shows that most retail investors expect silver and gold to be top performers this year. Silver ended 2022 up by almost 3% while gold finished flat. Spot silver kicked off 2022 at $23.28 an ounce and ended it at $23.93 an ounce, while spot gold opened last year at $1,828 per ounce and ended the year at around $1,822 per ounce. Carsten Fritsch, an analyst at Commerzbank, stated that the price of gold was at the same level it was when 2022 began. Precious metals faced their biggest macro hurdle last year when…

ThursdayJan 12, 2023 1:28 pm

3D Laser Technology Improves Safety in Underground Coal Mining

Advances in automated technology have improved safety in underground coal mining significantly, removing even more miners from possibly dangerous situations. Resources Safety and Health Queensland found that in the last five years, 356 severe incidents occurred in both underground and surface coal mines in Queensland with 10 individuals losing their lives as a result. The advanced technology, called ExScan, was developed by the Commonwealth Scientific & Industrial Research Organization (CSIRO) in collaboration with the Australian Coal Industry’s Research Program, which financed the project. CSIRO is an Australian government agency involved in scientific research. The technology in question uses 3D lasers…

WednesdayJan 11, 2023 10:31 am

Gold Stocks Likely to Soar This Year

Gold stocks seem poised for a powerful resurgence in 2023 after a relatively lackluster performance for most of 2022. Although gold prices began rising toward the end of the year, factors such as inflation coupled with a strong dollar and an increasingly tight monetary policy by the U.S. Federal Reserve eroded gold’s appeal as a safe haven metal and kept its prices down. Early projections released toward the end of last year showed that the gold market had plenty of room for growth in 2023, especially if the federal reserve chose to stabilize benchmark interest rates or even reduce them.…

TuesdayJan 10, 2023 12:53 pm

Precious Metals Traders Believe Recession Fears Likely to Weigh on Commodities

Precious metals trader Heraeus Group predicts that several geopolitical and economic factors will play a major role in silver, platinum and gold markets through 2023. Last year proved to be extremely volatile, with the Russia-Ukraine war slowing down the already weak global economy and lockdowns in China crippling the country’s economy and impacting supply chains around the world. Prices for commodities such as gold, palladium and silver rallied in the wake of the Ukraine invasion but saw their prices settle at lower levels as the war waged on. With most of the world still grappling with rising inflation and increased…

TuesdayJan 10, 2023 11:15 am

Canada Nickel Company Inc. (TSX.V: CNC) (OTCQX: CNIKF) Is ‘One to Watch’

Canada Nickel in December 2022 announced positive drilling results from exploration at its Reid and Sothman properties The company in November 2022 announced recovery of valuable by-products from a processing pilot test, including cobalt, palladium, platinum and chromium Canada Nickel announced in November 2022 improvements to its accelerated CO2 capture process Canada Nickel announced in October 2022 it closed a secured loan with Auramet International of $10 million Canada Nickel has engaged Deutsche Bank and Scotiabank as financial advisors for the Crawford Nickel Sulphide Project Projections indicate that, by 2035, world demand for nickel will double from current levels to…

MondayJan 09, 2023 10:59 am

Gold Soars to Six-Month Peak, Analysts Expect More Bullish Action This Year

Despite a relatively volatile performance in 2022 coupled with a two-year low in September, gold prices recovered and were trending upward as the year drew to a close. After gold prices went down to $1,659.47 per ounce in mid-September, the lowest they had been since April 2020, they recovered and began going up through October and November. By Jan. 3, 2023, spot gold prices had peaked at just under $1,850 per troy ounce before settling at around $1,838 per ounce. U.S. gold futures also went up by 1% to trade at $1,844.20 per ounce as gold recovered from the September…

FridayJan 06, 2023 11:24 am

2022 Review: Gold Holds Steady as Popular Asset

Last year proved to be a mixed bag of a year for precious metals and gold, in particular. The year was characterized by a significant amount of turbulence, with Russia’s invasion of Ukraine, historic inflation, consecutive interest rate hikes by the Fed and failures within the cryptocurrency space making the global markets extremely volatile. Gold, which has traditionally acted as a store of value during times of economic upheaval, exhibited price volatility for the majority of the year amid global inflation, the rising cost of living and high interest rates. Despite this volatility, gold prices trended upward as the year…

ThursdayJan 05, 2023 11:48 am

Major Coal Miners Rake in Billions in Profit Amid Global Energy Shortage

Last year, the biggest coal-mining companies globally raked in more than $97 billion in profits. This is quite a feat, especially based on the expectation that the coal industry was projected to be experiencing loses. Data from S&P Capital IQ shows that the demand for fuel increasing globally is responsible for the tripling of coal profits in the 12 months ending June 30, 2022. Figures from the International Energy Agency show that in 2022, the demand for coal around the globe increase by 1.2% to set a new record. Despite most countries pledging to stop using coal in favor of…

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