NewsRoom Articles - Page 193 of 203

WednesdayOct 14, 2020 2:00 pm

4 Challenges Facing the Gold Mining Sector

The S&P Global Market Intelligence recently released a review of the gold mining industry and the outlook doesn’t look too good for the industry segment. Here are the highlights of some of the challenges that the industry is currently facing. Expanding Supply Will Depress Prices It is predicted that the supply of gold is likely to grow rapidly. For example, Fitch Solutions forecasts that the global supply of gold will reach 3,770 tons. This is an increase of more than 25% of the current supply, and that increase is expected by 2029. Gold prices recently peaked at $2,000 an ounce,…

TuesdayOct 13, 2020 1:00 pm

How Autonomous Mining Can Become a Reality

The World Economic Forum estimates that robotics and automation can avert about 10,000 injuries within the metals and mining industries in just a decade, and that autonomous hauling could improve productivity by at least 15-30%. These figures are realistic and they highlight why autonomous mining should be pursued with urgency. Here are some of the things that need to happen for autonomous mining to become a widespread reality. Establish the Foundation For fully autonomous mining to exist, a core IT architecture needs to be set up so that every piece of mining equipment can communicate seamlessly with the different systems…

MondayOct 12, 2020 1:00 pm

Space Technology Could Ease Terrestrial Mining

Asteroid mining, together with several associated ventures, are making huge technological strides to the extent that they could become a reality any time soon. In fact, NASA recently published a notice inviting private companies to extract minerals from the moon and sell them to the federal agency. It is said that asteroids contain huge deposits of platinum, gold, iron ore and a host of other minerals. The magnitude of these resources is driving companies to look for practical ways to transport those resources back to earth once they are mined. Planetary Resources and SpaceX have even indicated that they have…

FridayOct 09, 2020 2:30 pm

How the Mining Industry is Looking to Harness Blockchain Technology

If you thought that blockchain, the digital encryption technology powering bitcoin, was only restricted to digital currencies, think again. The technology is making inroads into several industries, and the mining sector is considering applying this tech in several ways as shown below. Protecting Sensitive Information The painful truth is that no entity or company is entirely immune to cyber-attacks, and this reality has led the mining industry to think of ways to protect sensitive information, such as intellectual property and insider information from unauthorized access. Whether each mining company will develop its own blockchain technology or a collective system will…

ThursdayOct 08, 2020 12:04 pm

GoldHaven Resources Corp. (CSE: GOH) (OTCQB: ATUMF) Positioned to Benefit from Gold’s Steady Rise

Citi experts predict gold could reach $2,100 an ounce this quarter, $2,300 in the next 6 to 12 months Precious metal’s consistent performance has resulted in investors looking to reduce risks, maintain purchasing power by buying more gold GOH recently entered into agreements to acquire seven advanced gold projects in the Maricunga Gold Belt of Chile In a detailed explanation of why gold will likely continue its upward trend for at least the foreseeable future, Citi economists conclude that “you would expect gold to perform extremely well” (https://ibn.fm/ZY4Q2). That upward trajectory stands to benefit a wide variety of companies operating in…

ThursdayOct 08, 2020 10:00 am

Rare Earth Elements: Why the US Shouldn’t Panic Just Yet

Statistics show that the U.S. gets 80% of its rare earth elements from China, and now that there is tension with China, there are fears that the Asian country could “weaponize” rare earth elements in its trade war with the U.S. by cutting off supplies to starve U.S. industries that need these elements. The industries in which rare earths are used include medical devices, advanced weapons systems, wind and solar energy, electric vehicle making and so many others. However, there is no need for panic regarding the Chinese dominance of the supply chains of rare earth elements, and here is…

WednesdayOct 07, 2020 11:30 am

Deep-Sea Mining: Mouthwatering Prospects, Yet Disturbing Questions Remain Unanswered

There is a universal call to shift away from our reliance on fossil fuels, and the push to switch to cleaner renewable energy has created a huge demand for several minerals, such as copper, manganese and cobalt. At the moment, this demand is being met by terrestrial mines, but the allure of the vast mineral deposits on the planet’s sea beds has brought the possibility of deep-sea mining closer than ever before. International Rules Almost Complete Mining companies have for long had their eye on the treasures beneath the world’s oceans, but the absence of enabling rules for deep-sea mining…

TuesdayOct 06, 2020 11:00 am

President Trump Signs Executive Order Expanding Rare Earths Mining

In a bid to expand the production of rare-earth minerals domestically in the U.S., President Trump has signed an executive order to reduce U.S. dependence on China for those critical minerals. The executive order pronounces a national emergency specifically for the mining sector and it seeks to expedite the development of domestic mines through activating provisions in the Defense Production Act. The Interior Department is tasked with seeing how this can happen. In the recent past, the federal government has used this same law to boost the production of the different medical supplies which are needed in the fight against…

MondayOct 05, 2020 10:00 am

How India Plans to Exploit the Full Potential of Its Mining Sector

Many countries and their economies alike have been adversely affected by the coronavirus pandemic. Countries like India plan to use this disruption to lead their economy into a rapid industrialization phase. The ace up their sleeve is the mining sector, which will be the main driver to economic recovery in a post-pandemic world. Usually, a 1% growth in the mining sector leads to an average 1.3% increase in the industrial production growth rate while 10 indirect jobs are created from 1 direct job. According to the 12th five-year plan of the Planning Commission of India, for every 1% rise in…

FridayOct 02, 2020 11:00 am

How to Implement Formalization of the Artisanal Mining Sector in Africa

Many projects in Africa support the development of the mining sector, with platforms like the Virtu Gem marketing platform, the Fair Cobalt Alliance and the Artisanal Mining Grand Challenge advocating for the support of the African artisanal mining sector. It is pretty clear that the attention and relevance given to the artisanal mining sector grows as countries rich in minerals seek additional ways to optimize their available resources. Using this momentum as a force of good to call for efforts to formalize and rationalize the entire value chain of the artisanal sector would be in the best interest of the…

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