NewsRoom Articles - Page 125 of 195

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…

ThursdaySep 08, 2022 12:31 pm

Analyst Expects Silver Supply Crunch As Price Drops

Although gold prices have stabilized at just below $1,175 an ounce, silver has seen its fortunes dim in recent days. Prices for the metal dropped significantly toward the end of August, going down by more than 28% in value against the U.S. dollar since early March. On Aug. 20, 2022, silver prices dropped by 2.33% against the dollar in just 24 hours, signifying that the decline in silver metal prices may not be ending any time soon. Even so, David Morgan, founder of the Morgan Report, believes that there will be a supply crunch in the silver market that could…

WednesdaySep 07, 2022 12:18 pm

Energy Crisis Prompts China to Increase Investments into Coal

China has braved an energy crisis brought on by drought and scorching heat waves these last few months, with some parts of the country suffering power outages on a daily basis. It is said that increased coal import costs and reckless control of the domestic production of coal may have also affected energy supply in China. The crisis has seen the country focus on strengthening its energy security by increasing investments into coal-fired power stations in an attempt to meet demand. For decades, the country has tried to decrease its dependency on coal. During the announcement of its five-year plan…

TuesdaySep 06, 2022 11:47 am

Why Uranium Expected to Boom in Near Future

Fossil fuels such as crude oil, natural gas and coal have been used for more than a century, which makes them the biggest polluters of the environment as well as the biggest culprits of climate change. Unlike fossil fuels, nuclear energy is a zero-emission clean source of energy. This means that nuclear energy doesn’t produce greenhouse gases, which greatly contribute to climate change. Uranium is the most common fuel used in nuclear fission power stations to generate power. As the use of nuclear energy increases, uranium stocks are expected to boom. Below are some reasons to support the belief that…

FridaySep 02, 2022 10:28 am

Slow Permitting Process Could Undermine Biden’s Aim of Boosting Domestic Mining

Batteries are poised to play a major role in industries over the next decades amid global efforts to cut down reliance on fossil fuels and switch to sustainable energy. In plenty of countries, this involves steadily replacing conventional gasoline-powered cars with battery electric vehicles (BEVs) that are powered by lithium-ion battery packs. The efforts will also involve significant investment in stationary power-storage solutions that will be used to store power during off peak hours before releasing it back into the grid during peak consumption hours. However, a significant chunk of battery metals are processed in Asia, more specifically China, and…

ThursdaySep 01, 2022 11:20 am

Biden Administration Considers Financing Canadian Mining Companies

The manufacture of low-carbon transportation and energy products such as electric cars needs unique raw materials and minerals, which are usually processed and produced in China. Since these minerals aren’t mined in America, the Biden Administration is considering financing Canadian metal and mining firms. Canada is said to hold vast wealth in untapped mineral potential, which government officials have invested considerable money and time into developing. The Canadian government is planning to invest billions into a critical minerals strategy, which officials believe will allow the country to launch its battery supply chain in the near term. Figures show that more…

WednesdayAug 31, 2022 1:24 pm

Pressure on Gold Eases After Recent Federal Reserve Meeting

The U.S. economy has entered a technical recession, with data from the Bureau of Economic Analysis showing that the country’s GDP dipped by almost 1% in the second quarter of the year. This comes after a 1.6% drop recorded in the first quarter. Last month, the Federal Open Market Committee hiked interest rates by more than 70 basis points, to reach 2.25%–2.50%. While the Federal Reserve has been tightening its monetary policy, the fed has yet to turn restrictive or hawkish. This is because it raised the rates to a neutral level, moving from rates that were extremely accommodating to…

TuesdayAug 30, 2022 12:21 pm

S&P Global Says Gloomy Economic Outlook Dampened Mining in Q2

The second quarter of the year has been rough on the mining industry. With production costs on the rise and the global economy faltering in recent months, fortunes have dimmed substantially in the mining sector in recent months. Global mining activity has slowed down since June, and according to analysts from S&P Global Market Intelligence, lower metal prices and an increasingly negative global economic outlook are to blame. Senior analyst Sean DeCoff said in a quarterly report, titled “State of the Market; Mining Q2,” that the valuations of metals and the companies that mine them have been impacted by worsening…

MondayAug 29, 2022 12:25 pm

Industrial Info Resources Says More CAPEX Going to Coal vs. Copper

Industrial Info Resources recently released new data showing that more than 4,700 metals and minerals capital projects are currently being constructed across the globe. These projects, which include mining, processing and refining, have an aggregate investment value of $443 billion. Industrial Info Resources provides industrial global market intelligence. Its data also showed that some 10,580 projects, with a combined value of $1.1 trillion, were under active planning and engineering. The firm’s VP of research, Joe Govreau, stated that these figures represented an 8% increase from the prior period, attributing the increase to the restarting of projects that had been delayed…

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