NewsRoom Articles - Page 126 of 195

FridayAug 26, 2022 12:12 pm

Oil, Gas Industries to Benefit from Recently Signed Climate Bill

Earlier in January, the oil industry in America hit a snag when a natural gas and oil lease sale in the Mexican Gulf was struck down by a judge, who cited future global warming emissions as the primary reason. This move reduced new offshore drilling opportunities for players in the market, such as Exxon and Chevron, while increasing concerns on climate change. This setback was short lived, however, after President Joseph Biden signed a climate bill that guarantees new drilling opportunities in Alaska and the Mexican Gulf. The measure also bypasses his administration’s climate change concerns about emissions. This bill,…

ThursdayAug 25, 2022 12:03 pm

Kazatomprom Announces Plans to Ramp Up Production of Uranium in 2024

In its latest mid-year financial update, Kazatomprom revealed that it planned to increase its production for uranium in 2024. Kazatomprom is the biggest producer and seller of natural uranium globally, producing more than 40% of primary uranium supply. The company, which operates as Kazakhstan’s national operator, is involved in the import and export of uranium and its compounds. Yerzhan Mukanov, the company’s chief operational officer and acting CEO, announced that taking into account evolving production and mine-development constraints, the company expected to increase potential uranium production by between 2,000 to 3,000 tU in 2024. Mukanov also stated that the substantial…

WednesdayAug 24, 2022 11:49 am

Global Food Crisis Looms as Fertilizer Shortage Worsens

A fertilizer shortage affecting countries around the globe is threatening to make the already severe global food crisis even worse. Fertilizers are manufactured using three main ingredients: potassium, phosphorus and nitrogen. They are usually used to improve soil fertility by introducing the nutrients needed by plants that are missing or not adequate into the soil. United Nations officials have given more warnings about the looming fertilizer crisis, as vulnerable nations in continents such as Africa deal with the significantly higher prices. Smallholder farmers on the African continent feed the majority of the population. Data from the African Development Bank shows…

TuesdayAug 23, 2022 11:48 am

BHP Rakes in Record-Setting Profits as Demand for Coal Soars

For the past couple of years, future predictions for coal seemed to be grim. As countries around the world stepped up their efforts to incorporate green energy into their infrastructures, dirty energy sources such as coal and oil would be among the first to get the axe. Coal is among the dirtiest fuel sources on the globe, after all, accounting for 54% of carbon emissions in America’s electric production sector despite generating only 20% of the country’s electricity. However, the global energy crisis coupled with the Russia-Ukraine war caused an upheaval in the energy industry, forcing several European countries to…

MondayAug 22, 2022 12:27 pm

Report Says Market for Mining Explosives Expected to Hit $33B by 2031

A new TMR study has found that advanced explosives delivery technologies and the increase in the adoption of digital tools are enhancing the outlook of the mining explosives market. The study notes that it is expected that flourishing coal and metal mining activities in countries around the globe will create significant streams of revenue for the market. Projections also show that the size of the global mining explosives market will reach at least $32.6 billion by the end of 2031. Below are some of the key findings of the study on the mining explosives market. Metal mining and coal mining…

FridayAug 19, 2022 12:08 pm

Coal Industry Expresses Displeasure About New Climate Deal

Coal is one of the dirtiest sources of energy. In 2021, coal accounted for 59% of the carbon emissions in the electric power industry. As the effects of climate change become more apparent amid extreme heat waves and freezes, the United States has resolved to reduce its reliance on fossil fuels and cut its carbon emissions. Unsurprisingly, coal was the first energy source to receive the ax, with the U.S. reducing the number of operational coal-fired power plants from 589 to 500 over the past decade. In late July, notorious holdout Senator Joe Manchin announced that he would support the…

ThursdayAug 18, 2022 12:31 pm

Despite Headwinds, Demand for Gold Increased During First Half of 2022

The most recent Gold Demand trends report from the World Gold Council has revealed that global gold demand in the first half of 2022 went up by 12% amid stronger exchange-traded fund (ETFs) inflows. The rally is great news for the gold industry, which had seen demand drop by 8% year-on-year in the second quarter of 2022, at 948 ton. The WGC Gold Demand Trends Q2 2022 report stated that gold demand stood at 1,031.8 tons during Q2 2022. The demand for gold was affected by a decline in the number of central banks buying gold, increased outflows from ETFs…

WednesdayAug 17, 2022 12:46 pm

Barrick Gold CEO Says Mining Industry Should Expect More Inflation

The global economy has faltered in the past couple of years due to the COVID-19 pandemic, strained supply chains, shortages and the fallout from the Russia-Ukraine war. In June, the UN predicted that inflation would rise to 6.7% in 2022, more than twice the average inflation levels recorded from 2010 to 2020. Several industries have been affected by the rising inflation levels, with sectors such as mining being especially affected. Mining companies have reported increased operational costs due to bottlenecks in the supply chain, rising shipping costs and rising prices for critical mining inputs such as steel. Mining executives reported…

TuesdayAug 16, 2022 2:54 pm

Analyst Says Current Company Valuations, Prices Unfavorable for Increasing Copper Production

The International Energy Agency predicted in its 2017 World Energy Outlook that by 2040, China may have exceeded the European Union’s energy consumption. In the report, the agency stated that electricity was the rising force among global end uses of energy, noting that it would make up 40% of the increase in final consumption by 2040. To help produce and distribute electricity in this new world, a recyclable and durable metal that possessed good electrical conduction properties would be needed. This is why many expect that as the world enters a new era of technological innovation and international industrialization, the…

MondayAug 15, 2022 1:10 pm

Scientists Successfully Kill COVID-19 Virus Using Copper Nanoparticle Spray

In late 2019, scientists from Wuhan, China, announced the discovery of a novel coronavirus that was highly communicable, had flu-like symptoms, and seemingly had no cure. The virus quickly spread to the rest of the world, infecting more than 500 million people globally and taking more than 6 million lives. More than two and a half years after the pandemic started, scientists have found a way to effectively kill the COVID-19 virus with a copper nanoparticle spray. A research team comprised of individuals from Ames National Laboratory, the University of Buffalo and Iowa State University has managed to develop an…

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