NewsRoom Articles - Page 145 of 204

MondayApr 11, 2022 2:36 pm

$100 Billion Investment Needed to Address Copper Supply Deficit

During this year’s CRU World Copper Conference, Erik Heimlich stated that the international copper industry would need to invest more than $100 billion into mine construction in order to close a yearly supply deficit of 4.7 million tons by 2030. CRU Group is an intelligence company that provides management consultancy and market analysis services for the metals and mining industries. Heimlich, who is the head of base metals supply at CRU, stated that the supply gap for the next few years was estimated at 6 million tons annually as the electric-vehicle and clean-energy sectors increased production. Heimlich, who is also…

FridayApr 08, 2022 3:20 pm

Russia Seeks New Markets for Its Gold as Sanctions Bite

The gold industry in Russia is looking for new ways to sell this metal, including by exporting more of the precious metal to the Middle East and China.This comes as sanctions restrict its traditional sales routes after the Eastern European country invaded Ukraine in February. Russia, which is the second-largest gold miner in the world, is finding it hard to sell gold in the United States and European markets, which were closed after a ban on newly produced gold from Russia was imposed. Miners in the country usually sell gold to a number of state-run local banks, including Bank Otkritie…

ThursdayApr 07, 2022 3:06 pm

Orano Emphasizes Steady Demand as Crucial to Sustained Supply of HALEU

Orano SA, a multinational nuclear fuel cycle company, has responded to a request for information made by the U.S. Department of Energy, stating that fixed demand for HALEU high-assay, low-enriched uranium (HALEU) was one of the major obstacles that needed to be overcome in order to achieve sustainable production. The request for information was issued by the energy department late last year. Its objective was to find more input on its plan to establish a new program to assure the material’s availability, which is required for advanced reactor demonstration and commercial deployment. Currently, light water reactors use 3% to 5%…

WednesdayApr 06, 2022 3:02 pm

Democrats Go All Out in Support of Mining

The transition to the use of clean energy in the United States has led Democrats to call for more mining, with experts agreeing that for a much faster transition away from the use of fossil fuels, more mining needs to be done to help build new transportation and energy systems. Recently, President Joseph Biden ordered that resources be directed toward the support of new mining activities in the country. These activities will all be aimed at the acquisition of the minerals required to manufacture electric car batteries, including nickel, lithium, graphite, cobalt and manganese. The president’s order came after a…

TuesdayApr 05, 2022 3:23 pm

Researchers Say Silver, Gold. Copper Crucial to Carbon Capture Efforts

Chemists at Tsinghua University have designed a nanoscale structure that combines silver, gold and copper to work as a catalyst in a reaction where the performance will be important if efforts to capture carbon in order to help moderate global warming are a success. The researchers explained that they placed their focus on the electrochemical CO2 reduction reaction, which is a chemical reaction that uses electricity to power the conversion of gas into other useful substances through the separation of carbon dioxide’s carbon atoms from oxygen atoms. The key to the electrochemical CO2 reduction reaction is using the right chemical…

MondayApr 04, 2022 1:10 pm

Canada Sees Rise in Demand for Uranium, Potash as Ukrainian War Rages On

Russia’s invasion of Ukraine has affected the supply of a number of commodities, with Canada recording an increase in the demand of uranium and potash, according to Jonathan Wilkinson, the country’s minister of Natural Resources. Uranium is used by most nations in Europe as well as the United States to generate power while potash is a potassium-rich salt that is commonly used as fertilizer. These two commodities have been swept up in the international commodities rally after Ukraine’s invasion by Russia. Buyers are hoping to secure supplies after the trade disruption caused by Ukraine’s invasion. Currently, Canada is one of…

FridayApr 01, 2022 2:55 pm

Gold Market to Use Blockchain to Increase Supply Chain Transparency

Earlier this week, the World Gold Council and the London Bullion Market Association announced that they would be launching a program with a pair of companies to explore the use of blockchain technology on kilogram bars of gold. Blockchain is a digital ledger form that’s shared among users. For instance, data on the purchase and sale of an asset is updated and held among users, increasing transparency while making it difficult to interfere with. This technology is behind well-known cryptocurrencies such as Bitcoin. These gold-industry organizations hope that the use of this technology in digitizing metal trading will bring more…

ThursdayMar 31, 2022 3:22 pm

Russia May Soon Ban Uranium Exports

Last week, the Russian state’s news agency quoted comments made by the country’s deputy prime minister, Alexander Novak, who stated that Russia was considering imposing a ban on uranium exports. It is presumed that the potential ban on uranium is retaliation for President Joseph Biden’s decision to stop purchasing oil from Russia. While it isn’t clear whether the Eastern European country will implement the policy, following through on its threat would cause a significant increase in the price of uranium. Currently, Russia supplies more than 15% of the uranium that nuclear plants in America use to generate power. In the…

WednesdayMar 30, 2022 3:08 pm

Report Suggests Lithium Iron Phosphate Could Play Key Role in Energy Storage

As territories around the globe move away from fossil fuel energy to green energy sources over the next few years, the need for stationary energy storage will increase exponentially. Unlike fossil fuels such as coal, which can provide energy 24/7, renewable sources such as solar peak during certain times of the day. Stationary power storage facilities can be used to store solar and wind energy generated during the day when demand is low and then release it back into the grid when energy use peaks. According to a new report from research firm Wood Mackenzie Power & Renewables, lithium iron…

TuesdayMar 29, 2022 2:09 pm

World Gold Council Recommends That Mining Companies Cooperate More With Artisanal Miners

Last week, the World Gold Council asked that small-scale miners and large mining firms cooperate more. This was while the WGC was making recommendations that would facilitate the introduction of artisanal miners into the market and manage their interactions with larger miners. Small-scale miners are miners who work independently in mines and aren’t official employees of mining firms. These subsistence miners, also referred to as artisanal miners, extract minerals from the earth using their own resources. Leading global institutions estimate that artisanal and small-scale gold mining accounts for about 20% of the newly mined gold supply yearly. The World Gold…

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