NewsRoom Articles - Page 104 of 181

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…

WednesdayDec 14, 2022 1:21 pm

World Gold Council Remains Bullish for Gold in 2023

Despite traditionally acting as a store of value during times of economic upheaval, gold has struggled in the past couple of months as inflation and a surging dollar impacted gold prices. With 2022 coming to a close amid a struggling global economy and full-blown recession, the consensus would be that, based on recent data, gold stocks will continue to struggle into 2023. However, the World Gold Council believes that the precious metal will perform positively in 2023 despite an “unusually high level of uncertainty” around next year’s projections for the metal. According to the council’s “Gold Outlook 2023: The Global…

TuesdayDec 13, 2022 1:07 pm

International Energy Agency Forecasts Significant Increase in Use of Renewable Energy

Last week, the International Energy Agency stated that the capacity to produce renewable energy globally would increase by more than 70% in the next five years. The agency believes that this will mainly be driven by energy security concerns as more countries turn to the use of renewable sources of energy such as wind and solar in an effort to decrease their reliance on fossil fuels. According to the agency’s forecast, renewable energy will overtake coal to become the biggest source of electricity globally by 2025. The International Energy Agency expects that during this period, capacity will reach 5640 GW,…

MondayDec 12, 2022 1:57 pm

Dollar Rebounds on Strong US Data While Gold Retreats

At the start of this week, the price of gold declined as the dollar rebounded on strong U.S. data that many believe will prompt the Fed to advance rate hikes. That data includes spot gold declining by 1.7% to reach $1,767.86 per ounce, which is quite a drop from its highest price of $1,809.91 per ounce. U.S. gold futures also dipped by more than 1.5% to reach $1,780.50 per ounce. Gold wasn’t the only metal affected either as silver also hit $22.19, after dropping by 4%. The latest data from the Institute for Supply Management (ISM) shows that industry activity…

FridayDec 09, 2022 11:04 am

Review Finds That Increasing CO2 Levels Are Affecting Plant Nutrient Uptake

Carbon dioxide (CO2) is usually used by plants for photosynthesis, which supplies them with their sugars. Plants cannot survive on this alone, however, and usually need nutrients such as iron, phosphorus and nitrogen, which they absorb from the soil using their roots. While carbon dioxide is important, scientists conducting a review of current and past research on how different levels of CO2 affect plants have determined that increasing levels of carbon dioxide make it harder for plants to obtain the nutrients they require for growth from the soil. Antoine Martin, a biologist at the National Center for Scientific Research in…

ThursdayDec 08, 2022 12:25 pm

Indonesia Plans to Build Coal Plants Despite Multibillion Deal for Clean Energy Transition

Indonesia plans to continue building coal plants, despite its multibillion dollar deal to transition to the use of clean energy. The deal, called the Just Energy Transition Partnership (JEPT), was signed last month at the G20 summit with the G7 group of industrialized nations, including Norway and Denmark. Data from 2019 shows that Indonesia was the fifth largest emitter of greenhouse gases globally, trailing behind China, India, the United States and the European Union as a whole. Experts believe that the country’s emissions mainly come from deforestation and coal burning, which generates more than 60% of Indonesia’s electricity. Indonesia’s primary…

WednesdayDec 07, 2022 1:52 pm

Saudi Arabia Plans to Lead in Sustainable Mining

Saudi Arabia aims to become a world leader in the sustainable production of metals and minerals as the world transitions towards the use of clean energy. Saudi Arabia holds 17% of the proven petroleum reserves globally. This is in addition to being a major producer of phosphate fertilizer through its state-owned firm Ma’aden. The kingdom’s government estimates that it holds more than $1 trillion worth of untapped deposits, including gold, zinc, copper, uranium and phosphates. Khalid Al-Mudaifer, the vice minister for mining affairs, ministry of industry and mineral resources, attended the Mines and Money conference that recently took place in…

WednesdayDec 07, 2022 9:45 am

Arizona Metals Corp. (TSX: AMC) (OTCQX: AZMCF) Well Funded to Ramp Up Kay Mine Exploration Program

Arizona Metals commenced Phase 3 expansion drill program at its flagship copper-gold-zinc-silver Kay Mine Project; only 3% of the prospectively mineralized horizon has been drill tested and this Phase of drilling will focus on making new discoveries Surrounded by high-grade historic past-producing VMS mines, Kay Mine also boasts potential for scale; the mine was practically abandoned for 40 years until Arizona Metals acquired it in 2019 With $58 million in cash, company appears well funded to execute on its plans to spend $32 million on the Kay Mine Phase 3 exploration program over the next 12 to 18 months Arizona…

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