NewsRoom Articles - Page 14 of 158

FridayNov 01, 2024 10:00 am

Beijing Moves to Leverage Afghanistan’s Mineral Resources

Last week, China’s envoy to Afghanistan revealed that the country would provide the Islamic Emirate of Afghanistan with tariff-free access to its vast consumer, energy, and construction sectors. This statement comes as the Taliban-led country works to strengthen its markets. China has strived to develop ties with Afghanistan since the Taliban seized control of the country in 2021. However, similar to other governments, the East Asian country has avoided formally recognizing the group’s rule amid global concern over its violation of the rights of women and girls. Still, Beijing believes that the impoverished nation could provide various minerals to boost…

FridayNov 01, 2024 9:45 am

The US Announces New Strategy to Help It Dominate the AI Race

President Biden has rolled out a new plan aimed at enabling the U.S. to harness AI for national security purposes amid a global race that is seeing different countries scrambling to tap this new technology for their own interests. He outlined his plans in an NSM (National Security Memo) that centered on artificial intelligence, emphasizing that the U.S. government should be at the forefront of AI development in order to ensure that it is secure, safe and trustworthy. He called upon American agencies to strengthen their supply chains of semiconductor chips, integrate considerations of AI into any new technology plans…

FridayNov 01, 2024 9:00 am

Torr Metals Inc. (TSX.V: TMET): Pioneering Greenfield Discoveries to Capitalize on North America’s Surging Demand for Copper and Gold

Shift in Exploration Focus: Junior explorers traditionally fueled major metal discoveries through capital investment, but recent trends prioritize existing deposits and exhausted brownfield plays, jeopardizing future metal supply crucial for economic growth and a transition to renewable industries. Torr Metals’ distinct approach is focused on uncovering new district-scale copper and gold discoveries in underexplored regions, leveraging its 100% owned strategic land holdings, excellent infrastructure access, and proximity to mines owned by majors. Promising Project Results: Torr’s Kolos Copper-Gold Project in British Columbia and Filion Gold Project in Ontario show strong potential, with significant undrilled soil anomalies and high-grade outcrop mineralization,…

ThursdayOct 31, 2024 10:00 am

Gold Reaches New Price High, Dampens Chinese Demand

Earlier this week, the price of gold dropped from its recent high as the greenback soared, before rallying back to $2,743 a troy ounce. This change comes as new data shows that demand for the precious metal from China, which is the biggest consumer of bullion globally, fell. Spot gold also saw its price drop to $2,725 a troy ounce during Asian trade. At the same time, the dollar index hit its highest level since July following the Japanese yen’s plunge after the country’s ruling coalition lost its parliamentary majority for the first time in over a decade. Data from…

TuesdayOct 29, 2024 10:00 am

Anglo American Keeps its 2024 Guidance Unchanged Despite Drop in Q3 Copper Production

Last week, Anglo American announced production results from its third quarter while maintaining this year’s guidance for the minerals. In its results, the global miner revealed that the output of rough diamonds has dropped by 25% on cuts because of prolonged reduced demand. The production of copper also decreased by 13% in the third quarter, adding that for the first 9 months of the year, the red metal’s production dropped by 4%. During the same period, the production of diamonds fell 21%. The global miner added that its De Beers diamonds unit was looking into alternative options to increase output…

MondayOct 28, 2024 10:30 am

Tiny Island in the Caribbean Gets Windfall as AI Boom Gathers Steam

While it is common knowledge that investors in tech firms like Nvidia Corp. (NASDAQ: NVDA) are accumulating fortunes from AI, the island of Anguilla is also minting serious cash from this industry. This started at about the time ChatGPT went public and set off a frenzy among companies wishing to get websites ending in .ai. Cue in Anguilla. This British territory in the Caribbean didn’t know it had struck future gold when, by a stroke of luck, it was allocated the .ai internet address back in 1995. Each country has a unique internet address for sites located within its jurisdiction,…

MondayOct 28, 2024 9:45 am

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Eyeing Response to U.S. Recommendation to Impose Sanctions on Russian Titanium, Palladium

The Biden administration aims to weaken Russia’s financial stability through sanctions, limiting its ability to sustain its war efforts in Ukraine. Imposing sanctions on Russian titanium and palladium would create several strategic advantages for the U.S. Sanctions on Russian palladium and titanium could be especially advantageous for existing producers and emerging palladium mining projects outside of Russia. The United States recently called on its Group of Seven (“G7”) allies to consider imposing sanctions on Russian titanium and palladium supplies, a move that, if approved, could have a profound impact on global metals markets as well as on Russia’s economy (https://ibn.fm/Q9sHS).…

FridayOct 25, 2024 11:15 am

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX): Tapping into Argentina’s Growing Copper Potential

Argentina is rapidly emerging as a key player in the global mining industry, positioning itself to become a significant producer of copper and other minerals critical to the world’s clean energy transition. The country’s ambition to rank among the top ten copper producers by 2030 reflects its immense potential, driven by vast untapped mineral reserves, recent policy reforms, and a growing pipeline of mining projects. Currently, Argentina holds an estimated 75.5 million metric tons of copper reserves, representing about 3% of the global total (https://ibn.fm/XkBiO). Although this is modest compared to copper giants like Chile and Peru, Argentina’s improving investment…

FridayOct 25, 2024 10:00 am

Northern Graphite Plans to Double its Production in Quebec

Canadian graphite producer Northern Graphite has revealed plans to double its output at the Lac des Iles production plant in Quebec to meet increased demand for graphite outside of the Chinese supply chain. Graphite plays a critical role in electric vehicle battery development and its demand is poised to surge over the next few decades as automakers across the globe ramp up electric vehicle production. However, with China producing or processing the majority of the world's EV battery metals, Western lawmakers are keen on sourcing these materials from alternative markets. Additionally, China is limiting the export of critical minerals like…

ThursdayOct 24, 2024 10:00 am

Why Gold Prices are Notching New Records

Last week saw the price of gold hit a new high as uncertainty about the upcoming presidential elections in the U.S. and conflict in the Middle East prompted investors to seek out safe haven assets. Experts believe that an image of global instability often prompts investors to buy more gold in a bid to safeguard their finances. A senior market analyst at Kitco Metals, Jim Wyckoff, explains that the lack of consensus among the public or the market on which candidate will win the election is causing uncertainty, which often triggers demand for gold as a safe haven asset. This…

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