NewsRoom Articles - Page 141 of 204

FridayJun 03, 2022 11:47 am

Commodities Rally as Coronavirus Cases Drop in China

The Chinese government recently started loosening restrictions imposed when coronavirus infections were high. The relaxing of these restrictions, which had been choking the country’s economy, allowed industrial commodities to rise. The virus is now considered to be under control in Beijing, with officials in Shanghai outlining their plan to revive the municipality after a two-month lockdown in the hopes that the virus will soon be under control in the region as well. The revival measures include making the purchase of cars cheaper, accelerating approvals for properties, and allowing the restart of manufacturing and all other metal-intensive areas, which were significantly…

ThursdayJun 02, 2022 2:57 pm

DOE Asks Congress to Fund Domestic Uranium Enrichment

Jennifer Granholm, the U.S. Secretary of Energy, is seeking funding from Congress that will be used to establish a domestic source of enriched uranium. In the letter, requesting the funds, the Department of Energy stated that America’s reliance on imports from Russia created a vulnerability to the country’s economic and national security. This letter comes as Western nations continue imposing sanctions on Rosatom Corp. in response to Russia’s invasion of Ukraine. Rosatom Corp. is the Russian state’s atomic energy company and the biggest supplier of nuclear reactors and nuclear fuel globally. Russia is also one of the largest suppliers of…

WednesdayJun 01, 2022 3:07 pm

Germany to Reopen Coal-Fired Plants if Russia Cuts Off Natural-Gas Shipments

Europe purchases two different kinds of coal from Russia: metallurgical coal, which is used in the manufacture of steel, and thermal coal, which is used in power plants to generate power. Robert Habeck, Germany’s economic minister, revealed recently that the country was planning to bring back oil- and coal-fired power plants if Russia cut off shipments of natural gas to Europe. The minister will be presenting a proposed law this week that will allow the country’s government to bring back these facilities to be used in the event of a gas shortage. Germany has 1.5GW of oil facilities and 4.2GW…

WednesdayJun 01, 2022 2:30 pm

How The Bitcoin Mining Community Comes Together

Bitcoin miners are an important yet often overlooked section of the cryptocurrency community. While people like Michael Saylor or Jack Dorsey grab the headlines, Bitcoin miners are in the background, securing a network that processes billions of dollars in value annually. As mining plays a key role in Bitcoin, it is important to have an avenue for professionals to interact and discuss industry-related issues. Not only does this foster a sense of community, but it promotes cross-pollination of ideas and innovation in the Bitcoin mining industry. However, Bitcoin miners have often lacked the opportunity to interact with colleagues and industry…

TuesdayMay 31, 2022 3:23 pm

Qatar Minister Says the West Is Paying for Ostracizing Oil Companies

In a recent interview, the Minister of Energy in Qatar, Saad Sherida Al-Kaabi, stated that a decline in investments in the production of gas in a bid to reduce carbon emissions had contributed to the United Kingdom’s current fuel crisis. In the interview, Sherida Al-Kaabi stated that Qatar was willing to help England with its crisis as he condemned nations in the West that had demonized gas and oil companies. The minister explained that the main cause of the current price increase for energy as well as gas prices in various parts of the world, including Europe, could be traced…

FridayMay 27, 2022 1:24 pm

China Buys Russian Coal as Moscow Seeks New Buyers

Recently released trade data shows that between March and April, imports of coal into China from Russia surpassed 4 million metric tons. Russia is China’s biggest supplier of coal, making up 19% of the nation’s coal imports, which is a 5% increase from the share it had a few months ago. This increase in coal imports into China comes as countries in the West impose sanctions on Russia over its invasion of Ukraine. The trade of coal between the countries decreased shortly after Russia invaded Ukraine in February and countries in the West began slamming Moscow with sanctions. At the…

ThursdayMay 26, 2022 1:35 pm

IAEA Says Uranium Stockpiles Are Worryingly Low

Dr. Adrienne Hanly of the International Atomic Energy Agency stated recently at the World Nuclear Fuel Cycle conference that inventory levels for uranium fuel for nuclear utilities in the United States hadn’t hit the 2+ years recommended minimum. Hanly, who is a uranium production specialist at the agency, stated that at 16 months’ worth of uranium requirement, utilities in America had limited ability to manage a supply disruption independently. The specialist’s comments drew the attention of Duncan Craib, the CEO of Boss Energy, who admitted that the company’s inventory levels were low. Craib explained that historically, secondary uranium supplies had…

WednesdayMay 25, 2022 3:00 pm

Friedland Says ESG Criteria Will Determine Mining Companies’ Staying Power in the Industry

Robert Friedland, the CEO and founder of Ivanhoe Mines Ltd, stated recently that producers of metals will have to renew their relationship with communities in order to acquire social licenses to increase their output for the metals needed during the transition to clean energy. Friedland said this while speaking on a panel at the New Economy Gateway Latin America event, which was taking place in Panama City. He added that mining was important for building a new economy, noting that copper was a “new oil.” However, for the industry to gain acceptance, it has to significantly improve how it engages…

TuesdayMay 24, 2022 12:06 pm

Report Highlights That Switching from Coal to Renewable Energy is Now Cheaper

The prices of gas and coal have increased significantly these last few months, which has impacted businesses and consumers alike. However, findings from an analysis conducted by TransitionZero show that it has become cheaper to switch to clean energy from coal in comparison to switching to gas from coal. This is mainly because of the reducing cost of battery storage and renewables and the increasing volatility of the price of gas. TransitionZero is a climate analytics company that is focused on generating financial analytics to make zero-carbon a reality. TransitionZero analyst Jacqueline Tao stated in an interview that the price…

MondayMay 23, 2022 12:08 pm

Major Russian Lender Receives Gold Export License as Sanctions Bite

Earlier last week, the Credit Bank of Moscow received a license to export gold from the federal government. This move will make this particular financial institution the latest bank in Russia to involve itself in the trade of precious metals in an effort to counteract the effect sanctions have had on the country. The primary operators in the Eastern European country’s gold market — Bank VTB and Sberbank Rossii PAO — have been affected significantly by harsh sanctions imposed on Moscow by the West. This comes after Russia sent troops into Ukraine to invade the country in February. In a statement,…

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