NewsRoom Articles - Page 155 of 173

FridayJan 08, 2021 10:00 am

Price of Iron Ore Plummets as China Cuts Back on Steel Production

During the last weeks of December 2020, China’s benchmark iron futures decreased after the nation called for the steel industry to manufacture less crude steel this year. The objective of this is in line with the Chinese government’s carbon neutrality plan. Last year, prices of iron ore more than doubled, which set the ore that is used to make steel on track to becoming the top-performing major product in the world for the second year in a row. This came at a time when Chinese demand stands firm and speculative money was being received by the market. Despite this, however,…

ThursdayJan 07, 2021 10:00 am

Mineral Sample Retrieved Over Two Centuries Ago Classified as New Mineral

Recently, researchers from Slovakia, the Diamond Lightsource and London’s Natural History Museum found a new mineral when they were studying a liroconite sample. Liroconite is a mineral colored bright blue that was recovered from a Cornwall mine more than two centuries ago. In an attempt to curate the mineral properly, lead researcher Mike Rumsey noted that the mineral’s color varied from bright blue to emerald green. In a media statement, he explained that the researchers discovered that the mineral samples that were a dark-green shade were relatively chemically different to the bright-blue mineral samples. This was their basis for categorizing…

WednesdayJan 06, 2021 10:45 am

Newest Gold Mine in Ontario Pours First Gold

During the last week of 2020, Pure Gold Mining poured its first gold at its Red Lake Pure Gold mine, located in Ontario. The company aims to issue guidance for this year after its mine reached commercial production. Company executives expect that this will happen by the end of Q1 2021. Pure Gold Mining CEO and president Darin Labrenz stated in a press release that a complete team effort made up of driven, focused and dedicated individuals was needed to build the mine. The underground mine, which will be among the highest producers of grade gold globally, utilizes various mining…

TuesdayJan 05, 2021 12:37 pm

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Finalizes Chemours Monazite Supply Agreement, Marks Beginning of ‘Real Success Story’

UUUU to receive minimum of 2,500 tons of natural monazite ore, one of highest-grade REE minerals in world Company to produce raw materials needed for clean energy, advanced technologies while also creating green jobs in economically underserved area Energy Fuels will be first U.S. company in years to produce marketable mixed REE concentrate on commercial scale Energy Fuels (NYSE American: UUUU) (TSX: EFR), a diversified uranium miner, has finalized a three-year agreement with the Chemours Company (NYSE: CC) to obtain natural monazite ore, one of the highest-grade rare earth element (“REE”) minerals in the world (https://ibn.fm/Rp4YN). The agreement calls for Energy…

TuesdayJan 05, 2021 10:00 am

Turkey Finds Deposits of Gold Worth $6 Billion

According to Turkey news agency Anadolu, the country, which is located in Western Asia, has discovered an enormous gold deposit that holds roughly 99 tons of the valuable metal, which is roughly 3.5 million ounces. The gold deposit is valued at about $6 billion, totaling an estimated Rs 44,000 crore. The gold deposit was found by Gübretaş, a fertilizer manufacturing firm, and reported by Turkey’s head of the agricultural credit cooperatives Fahrettin Poyraz. The deposit is located in Sögüt, a district and town located in Turkey’s Bilecik Province. After news of the gold discovery became public, Gübretaş shares rose on…

MondayJan 04, 2021 2:21 pm

GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) Poised to Thrive as Investors Turn to Gold; Juniors May Offer Bigger Benefits

Gold hit all-time high as investors flock to protect wealth on the fear of inflation, economic turmoil, currency fluctuations To leverage strong momentum of gold, investors may benefit from junior mining stocks GoldHaven appears to be well positioned to capitalize on rising attractiveness of gold market Historically, gold played the role of a safe haven asset during economic decline or increased volatility due to heightened uncertainty. The pandemic has been no different as the precious metal hit its all-time high in early August, surpassing $2,075 per ounce. With the expectation that the price of the precious metal will stay strong…

MondayJan 04, 2021 11:00 am

Researchers Suggest New Way of Classifying Minerals

University of Colorado Boulder and Carnegie Institution for Science researchers are suggesting that a new system of classifying minerals be implemented. The evolutionary system will not only be inclusive of historical data but also display changes in distribution and diversity of minerals for more than 4 billion years of the history of earth. The main inspiration behind the proposal by the researchers is diamonds. This is because, even though most diamonds differ both in genesis and composition, they are all classified as diamonds. This categorization is done by the International Mineralogical Association Commission on New Minerals, Nomenclature and Classification. This…

ThursdayDec 31, 2020 11:45 am

Outgoing Trump Administration Granting Last-Minute Approvals for Mining Activities on Public Lands

The outgoing Trump administration has been working on approving large-scale energy and mining projects on federal lands. Projects include the construction of a copper mine in Arizona and sanctioning the building of a natural gas pipeline through the Jefferson National Forest in West Virginia and Virginia. These projects show the Forest Service and the Interior Department’s objective to discover ways to grow domestic energy and mining production, in spite of intense protests from activists and environmentalists. The Forest Service controls 193 million acres of public lands while the Interior Department manages 480 million acres. The last-minute approvals show how extensively…

ThursdayDec 31, 2020 11:17 am

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Supply Agreement with Chemours Represents Commitment to Re-Establish US Rare Earth Supply Chain

UUUU has signed three-year supply agreement with Chemours Company to obtain minimum 2,500 tons of rare earth and uranium-bearing natural monazite ore per year CEO notes company’s excitement about working with Chemours to help “reestablish U.S. rare earth production” Responsible production of REES, uranium from natural monazite ore is important complement to company’s existing programs In what could be called a milestone moment in re-establishing a fully integrated REE supply chain in the United States, Energy Fuels (NYSE American: UUUU) (TSX: EFR) has announced a three-year supply agreement with the Chemours Company (NYSE: CC) (https://ibn.fm/XO0tG). The agreement calls for Energy…

WednesdayDec 30, 2020 11:30 am

ABB Deploys Automation, Electrification Technologies to Increase Sustainable Underground Mining

ABB is a technology firm focused on achieving a productive and sustainable future. Its automation solutions and electrification knowledge have been utilized in a futuristic project that aims to increase productivity by 50% while generating no carbon dioxide emissions. The global tech company has provided connected operations and control-management systems as well as mobile-operator workplaces with high visualization as part and parcel of a worldwide mining partnership to reduce the climate impact. The project, referred to as the Sustainable Underground Mining, was designed by LKAB. The aim of the project is to set a new sustainable mining world standard in…

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