NewsRoom Articles - Page 142 of 206

TuesdayJun 21, 2022 10:17 am

Copper’s Outlook Dims as Threats Increase

CRU Group, a business intelligence company, believes that copper’s outlook may not be as bright as we thought, thanks to a myriad of market risks. While speaking at a mining conference in Toronto, the CRU Group director of copper research and strategy Vanessa Davidson stated that these threats could stand in the way of copper’s growth at a time when the world needed the metal to help wean itself off of fossil fuels. During her remarks, she listed some threats, which included reduced gross domestic product (GDP), reduced industrial production caused by geopolitical upheaval, increasing rates of inflation and the…

FridayJun 17, 2022 12:23 pm

U.S. Government Wants Billions Allocated to Wean Itself Off Uranium from Russia

Russia’s invasion of Ukraine has had negative geopolitical consequences that will last for years. As countries around the world raced to place sanctions on Russia for its unprovoked invasion, it became pretty clear that the energy sector was bound to take a major hit. Russia, which is a major supplier of uranium, provides an estimated 35% of the world’s enriched uranium. In 2020, the Eastern-European country was the second-largest supplier of uranium to the United States, accounting for 16.5% of the country’s uranium imports and supplying about 23% of the uranium imports the nation needed to power its commercial reactors.…

ThursdayJun 16, 2022 3:40 pm

Coal to Solar Scheme Awards Grants for Almost 300MW of Energy Storage

On average, coal power plants generate around 45% of America’s electricity. Coal is one of the cheapest and most abundant sources of electricity, allowing energy providers to generate electricity at relatively little cost. However, coal is also one of the largest emitters of carbon on the planet. In a bid to arrest greenhouse gas emissions, entities around the world are moving away from coal to more renewable sources of energy. In Illinois, for example, the state government is incentivizing the transition from coal power to green electric energy by providing companies with millions of dollars in grants. The state will…

WednesdayJun 15, 2022 12:47 pm

America Tells Global Climate Conference That Continuing Coal Use Puts World in Jeopardy

Currently, coal provides more than 35% of the world’s electricity. It was largely responsible for the Industrial revolution and allowed us to generate electricity and mass-produce commodities; In addition, it provided fuel for transport. However, coal is also responsible for a significant percentage of global greenhouse gas emissions. Burning coal produces more than 700 million metric tons of carbon dioxide every year in the United States alone. Using coal as an energy source is also associated with environmental impacts such as acid rain, smog, ground-level ozone and particulate emissions. Speaking at the Bonn Climate Conference, U.S. Envoy on climate change…

TuesdayJun 14, 2022 3:52 pm

Production of Coal in Virginia on the Rise

The production of coal in the state of Virginia is high and still growing, driven by the rising demand for steel as America focuses on infrastructure investment. Virginia mainly produces metallurgical coal, which is primarily used in steelmaking. President of the Metallurgical Coal Producers Association, Ben Beakes, stated that the demand for metallurgical coal was increasing, noting that current levels were some of the highest the industry had seen in a couple of years. Data from the U.S. Energy Information Administration shows considerable increases in coal production in Virginia, with its latest weekly report showing that the state’s coal production…

MondayJun 13, 2022 1:53 pm

Why the Price Rally for Gold May Not Slow Down This Year

Gold prices have been on the rise for the past couple of months, and all indications are that this rally won’t be stopping any time soon. Several factors, including geopolitical unrest, increasing inflation and talk of an impending recession, have increased gold’s traditional appeal as a safe haven. Speaking at a precious metal conference held in Singapore, Silver Bullion Pte founder Gregor Gregersen said that we are in for a duration of stagnation after decades of significant deficit spending coupled with super-loose monetary policy decisions. Although Russia’s invasion of its former ally Ukraine didn’t stop a 10% drop in the…

FridayJun 10, 2022 12:10 pm

National Lab Director Believes Energy Can Be Harnessed from Nuclear Waste to Power Reactors

Idaho National Laboratory’s associate lab director Jess C. Gehin believes that there exists enough energy in nuclear waste in America to power the whole nation for a century. This, he says, could help solve the issue of how to dispose of nuclear waste. A fast nuclear reactor, which is the technology required to convert nuclear waste into energy, was developed decades ago. However, for economic and political reasons, this technology was never developed at a commercial scale. Now, however, as the urgency to address climate change through the decarbonization of energy grids increases, interest in fast nuclear reactors has surged.…

ThursdayJun 09, 2022 3:30 pm

Study Finds That Eliminating Use of Coal Would Yield Social Benefits

New research has found that phasing out the use of coal through the use of renewable energy would be good for the society. The study, which was carried out by researchers at the Imperial College School of Business, stated that the transition to green energy from coal would result in about $77.9 trillion in benefits for the society. These benefits include decreased harm to people’s health and individuals dealing with less fallout from climate change. The investigators calculated the social benefit from phasing out coal and the cost of replacing coal with green energies to determine an approximation of the…

WednesdayJun 08, 2022 1:24 pm

Jewelers Finding It Hard to Source for Gold During War Time

Following Russia’s invasion of Ukraine earlier in the year, it has become increasingly difficult to obtain raw materials such as diamonds and gold for makers of luxury watches and jewelry. Data from the World Gold Council show that Russia is the largest producer of natural diamonds globally, as well as the second-biggest miner of gold in the world. Earlier in March, the Cartier maker stated that it had not been purchasing diamonds mined in Russia, reaffirming in its recently released sustainability report that it wasn’t purchasing recycled gold from the Eastern European country either. Recycled gold is under investigation currently…

TuesdayJun 07, 2022 12:08 pm

Goldman Sachs Predicts Extreme Copper Supply Crunch

Nick Snowdon, a metals strategist at Goldman Sachs, recently stated that predictions on copper supply issues in the long term were potentially right and would probably cause the metal’s price to reach $15,000 per ton. The demand for copper is expected to rise significantly over the next 10 years as demand for electric cars, electricity infrastructure and renewable energy increases alongside international targets for reductions in carbon emissions. The new supply cannot meet the increasing demand, however, with the significantly low supplies of the red metal held in exchange warehouses only worsening the issue. Snowdon added that while the 2000’s…

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