NewsRoom Articles - Page 111 of 181

ThursdaySep 22, 2022 1:04 pm

Indonesia Struggles to Gain Investor Backing for Plan to Abandon Coal

Several territories around the world are keen on transitioning to sustainable energy models. Coal may have played a major role in industrialization, but centuries of burning coal fuel have inundated the atmosphere with greenhouse gases and altered the planet’s cycle of heating and cooling. With extreme weather events occurring with frightening regularity, dozens of countries are looking to replace coal with cleaner sources of energy, and coal was among the first dirty fuels to go. However, transitioning from fuels such as coal to clean energy sources, including solar and wind power, requires significant investment in infrastructure. Indonesia, which plans on…

WednesdaySep 21, 2022 3:29 pm

Uranium Rallies Amid Energy Crisis in Europe

The price of uranium has hit a new high as the energy crisis in Europe continues to fuel bullish bets on nuclear energy’s future. Uranium, which is also known as yellowcake, has increased by 7% since last month to reach $50 per pound. This price was last observed when the prices of many commodities increased last spring, fueled by supply concerns. Data from UxC shows that the last time yellowcake traded at such levels was a decade ago, without taking into account the spike triggered by Russia’s invasion of Ukraine earlier this year. UxC is a nuclear fuel market research…

TuesdaySep 20, 2022 12:17 pm

Gold Slides as High Inflation Keeps Fed Hawkish

Increasing inflation rates are impacting the price of gold. As the global energy crunch deepens, supply chain constraints continue and the cost of living rises, the Federal Reserve has become increasingly concerned about inflation. Prices for gold went down last month after the latest U.S. inflation data revealed that the situation was worse than most pundits expected. In August, the consumer price index increased by 0.1% from July, surprising a market that was hedging its bets on median economist forecasts that predicted a small decline in the price index. Soon after the release of the consumer price index (CPI) report,…

MondaySep 19, 2022 11:06 am

Gold Gains Ground on Expectations of Huge Interest Rate Hike

Last week, the price of gold advanced to its highest figure since last month as expectations for an increase in interest rates rose. It is expected that later this month, the U.S. Federal Reserve will hike interest rates in a bid to curb inflation. Higher rates of interest dampen nonyielding assets such as gold, because they increase the opportunity cost of holding bullion. Meanwhile, the U.S. dollar diminished in value against its rivals, which made dollar-priced bullion less expensive for overseas traders. In a recent interview, Kitco Metals’ senior analyst Jim Wyckoff stated that the U.S. dollar index’s sharp drop…

FridaySep 16, 2022 2:39 pm

Chile Launches Investment Plan to Boost Weakened Economy

Earlier this week, the government of Chile led by President Gabriel Boric introduced a plan aimed at promoting investment into the country and spurring copper mining. Chile is the largest producer of copper in the world, making up 28% in global copper production. It is home to international copper giants, including Codelco, Antofagasta, Anglo American Glencore and BHP. The country is also the second-largest producer of lithium, occupying 22% of global production. The investment package, dubbed Invest in Chile, brings together public resources, management efforts and regulatory changes. It also calls for the private sector to invest and participate in…

ThursdaySep 15, 2022 12:11 pm

Drought in China May Worsen Global Shortage of Coal

Normally, late July and early August are the wettest months in southern China. This year, however, rainfall during this period was below normal with precipitation in the region since July remaining at 135 mm. This is significantly lower than the average annual precipitation of the region from 2014 to 2021, which stood at 464 mm. This drought has prompted an increase in the price of coal, as traders expect that more coal will be burned to meet the demand for electricity this winter as hydroelectric power generation dwindles. The country’s increasing consumption of coal may worsen the already present global…

WednesdaySep 14, 2022 11:54 am

Gold Prices Remain Dampened as Market Expects Fiscal Tightening

Despite its strong start last month, the gold market has yet to find consistent bullish momentum to push up the metal’s price. Market expectations for aggressive monetary policy action from the U.S. Central Bank continue supporting the dollar, which is weighing down the precious metal. While the price of gold remains below $1,750 an ounce, analysts expect that the metal’s price will soon increase. In a recent interview, Huw Roberts, Quant Insight head of analytics, stated that according to his company’s research, gold had broken its level of fair value and entered into a macro regime. Quant Insight uses advanced…

TuesdaySep 13, 2022 2:07 pm

Power Conversion Innovation May Boost Power Plant Efficiency

Energy efficiency has been a major talking point in recent years amid climate change, extreme weather events, and a global push for clean and renewable energy sources. Most current power plants, whether they rely on coal, nuclear energy or natural gas, convert heat into electricity via a process called the steam-based Rankine cycle. Despite being the go-to process for power generation in most if not all power plants, this process is extremely inefficient because approximately two-thirds of the energy is lost in converting steam back into water. With the world currently experiencing a major energy crisis, inefficiencies in power production…

MondaySep 12, 2022 1:45 pm

Australian Coal Prices Reach Record Levels as Energy Crunch Deepens

The Russia-Ukraine war has had a domino effect on global coal demand that could significantly benefit coal exporting countries such as Australia. With Russia, which is one of the world’s largest coal suppliers, essentially booted out of the global coal market, Australia has seen its coal prices soar. Before Russia invaded Ukraine, many European countries had began shutting down their coal-fired power plants in favor of cleaner energy sources. In the wake of Russia’s unprovoked invasion, plenty of countries condemned the attack and urged Russia to cease its war effort and withdraw from Ukraine. Furthermore, western countries issued a series…

FridaySep 09, 2022 12:25 pm

Hawaii Closes Last Coal-Fired Power Plant in Fight Against Climate Change

Last week, Hawaii closed its last coal-fired power plant after three decades in operation. The move to close this power plant, which produced one-fifth of the electricity on Oahu, comes after the islands received their last shipment of coal in July. The closure of this coal plant makes Hawaii the 11th state in the country with no coal-fired power facilities. States such as Vermont and Rhode Island have never had any coal-fired power plants. In a recent interview, Hawaii Gov. David Ige stated that the plant’s closure would help reduce greenhouse gases. Ige explained that the coal facility was one…

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

Contact us: (512) 354-7000