NewsRoom Articles - Page 114 of 181

WednesdayAug 10, 2022 2:27 pm

Glencore Announces Huge Profits as Coal Prices Skyrocket

Last week, Glencore announced that it had raked in more than $18 billion in profits during the first half of this year. This figure, the mining and commodities trading company stated, could be attributed to its thriving thermal coal business and was more than double its 2021 profit for the same period. Glencore CEO Gary Nagle stated that higher rates of interest, a global economic slowdown and inflation would likely decrease its earnings in the second half of 2022. He noted, however, that Glencore’s long-term commodity outlook remained positive. The company predicts that its adjusted earnings for the year will…

TuesdayAug 09, 2022 1:53 pm

Europe Considers Switching to Manure as Sanctions Cut Off Fertilizers from Russia

Most experts, from the World Bank to leaders in key industries, believe that the geopolitical and economic effects of Russia’s unprovoked invasion of Ukraine will last for some time. The war in Ukraine has exacerbated the global energy crisis, caused food prices worldwide to soar and presented a significant risk to the worldwide economy. Sanctions against Russia, which is a top energy producer, have forced European countries to revert back to coal and increased fears of an energy deficit, especially as the ban on Russian coal rapidly approaches. Another key Russian export that has been subject to bans is fertilizer.…

MondayAug 08, 2022 2:24 pm

Shortage of Coal Looms in Europe as Ban on Russian Imports Nears

The Russia-Ukraine war has had a significant impact on the global energy space. Given that Russia is a major player in the energy industry, sanctions meant to harm its war effort in Ukraine have had untold consequences on energy and food prices. Chief of those consequences resulted from Russia’s decision to reduce oil and natural gas exports to Europe in retaliation for Western sanctions. This forced several countries to turn back to coal for energy production, a move that irked clean-energy advocates who argued that these nations were turning back on their green-energy pledges. Although European countries that were short…

FridayAug 05, 2022 10:30 am

Mining Executive Believes Uranium Will Help Tackle Energy Crisis

The world is in the midst of an energy crisis. Energy prices have soared in the past few months, putting immense stress on household budgets, industries and entire economies. Russia’s unprovoked invasion of Ukraine has also had a major impact on the global energy space, pushing oil and gas prices to historically high levels and forcing many countries to go back to coal for energy production. With no end in sight for the energy crisis, one mining executive believes that nuclear energy will play a major role in finding a solution to the crisis. The world will not be able…

ThursdayAug 04, 2022 12:24 pm

India Unveils First Transnational Bullion Exchange Aimed at Fostering Transparency

Last week, the Prime Minister of India, Narendra Modi, launched the country’s first global bullion exchange in an effort to facilitate transparency within the precious metals market. This will make it easier for small jewelers and bullion dealers to trade in the market and lead to uniform pricing for gold in the country. In a statement at the inauguration, Modi said that India was laying strong claim in the global financial services sector through this exchange launch. While the National Commodity and Derivatives Exchange and the Multi Commodity Exchange provide gold futures contracts in India, there wasn’t any physical exchange…

WednesdayAug 03, 2022 11:44 am

IEA Report Projects Increase in Global Demand for Coal

A recently published IEA report has projected that the global consumption of coal this year will increase to high levels last recorded almost 10 years ago. Based on current market and economic trends, the consumption of coal around the globe is expected to increase by 0.7% this year, reaching eight billion tons. This is assuming China’s economy will recover in this year’s second half. This new international total will match the figures recorded in 2013, with the new report also highlighting the turmoil observed in coal markets these last few months. This turmoil has significant implications for nations where coal…

WednesdayAug 03, 2022 11:15 am

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Strengthening Position with Acquisition of Large Rare Earth Deposit in Brazil

UUUU aggressively seeking to expand rare earth bearing monazite sand feeds Bahia Project offers potential to provide Energy Fuels with controlled, low-cost source of monazite Company plans extensive exploration work over the next several months to further define, quantify HMS and monazite resource at the Bahia Project As an emerging player in the commercial rare earth business, Energy Fuels (NYSE American: UUUU) (TSX: EFR) has is strengthening its presence by entering into binding agreements to acquire 17 mineral concessions in Brazil (https://ibn.fm/o7vX5). The acquisitions, located in the state of Bahia and total approximately 58 square miles, have the potential to…

TuesdayAug 02, 2022 1:13 pm

Race to Secure Supplies of Battery Materials Intensifies

As the world adopts the use of electric vehicles, the increasing demand for nickel, lithium, cobalt and other key ingredients needed for batteries outpaces the supply, which has been affected by a general lack of investment and pandemic-related logistical woes. This, coupled with increasing concerns over the dominance that China exhibits in the market and the slowing global economy, has led to an increase in prices and, in turn, accelerated the race to secure supply. For instance, General Motors announced last week that it had entered into a number of supply deals for the raw materials it requires for its…

MondayAug 01, 2022 11:24 am

Copper Recovers as Dollar Weakens, Supply Concerns Deepen

Over the past couple of years, geopolitical events have led to a slowdown in the global economy, starting with COVID in late 2019 and culminating with the Russia-Ukraine war earlier this year. The pandemic significantly impacted supply chains and led to issues, including the global chip shortage, that are still affecting industries to this day, while Russia’s invasion of Ukraine contributed to soaring energy and food prices across the world. Several other economic factors have caused the dollar to depreciate in value for the past few months, with the greenback dropping in value again after the U.S. Federal Reserve hikes…

MondayAug 01, 2022 9:45 am

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ‘Meets Definition of Domestic Clean-Energy Infrastructure,’ Op-Ed Concludes

Denver Post op-ed piece reports no evidence that tailings cells are leaking or contaminating groundwater U.S. goal to cut emissions in half calls for greater support, investment in domestic manufacturing of clean-energy technologies Communicating correct facts can help others recognize that White Mesa Mill is not a threatening or dangerous neighbor After concerns surfaced about the impact a Utah uranium mill might have on the surrounding water sources, an op-ed piece in the Denver Post reported that there is “no evidence that implies the tailings cells are leaking or contaminating groundwater” (https://ibn.fm/4ZfQT). That assessment aligns with what Energy Fuels (NYSE…

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