NewsRoom Articles - Page 2 of 87

ThursdayMar 16, 2023 3:50 pm

UK Grid Operator Turns on Coal Units as Power Shortage Grows

United Kingdom grid operator National Grid ESO is turning to its reserve coal power units to cover electricity shortages amid a crippling energy crunch that has seen several countries across the European Union struggle to maintain their energy supply. A statement from the National Grid revealed that it had synchronized two coal facilities at its West Burton coal plant to the national grid. This is despite the fact that the UK has pledged to phase out the use of coal in power generation by 2024 as part of global efforts to combat climate change. National Grid decided to extend operations…

WednesdayMar 15, 2023 11:16 am

Fed Rate Hike Expectations Cause Copper Price to Dip

Copper prices went down by 0.2% last week amid hawkish comments from the chair of the US Federal Reserve. Even though projections from late 2022 and early 2023 suggested that inflation levels would be lower this year, Fed chair Jerome Powell said during a recent interview that the U.S. central bank would most likely raise interest rates higher than expected to combat rising inflation. Powell noted that the latest economic data indicated that the regulator would have to push benchmark interest rates higher than previously expected to temper inflation levels. Speaking to U.S. lawmakers, Powell said that the Fed would…

WednesdayMar 15, 2023 9:45 am

Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) Sees Stock Upgraded to the Toronto Stock Exchange Main Board

Eloro Resources saw its corporate listing upgraded to trade on the TSX exchange as of March 6, 2023 The uplisting to the TSX main board provides the company with access to greater stock liquidity and increases its visibility amongst larger institutional investors The upgrade marks the latest feat for Eloro Resources, with the company having successfully completed a C$10.9mn capital raising in January Eloro Resources are aiming to publish their initial resource estimates for their Iska Iska project by the end of 1Q 2023 Eloro Resources (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mine development company with a…

WednesdayMar 15, 2023 9:00 am

Battery Mineral Resources Corp. (TSX.V: BMR) (OTCQB: BTRMF) Is ‘One to Watch’

Battery Mineral Resources is focused on the discovery, acquisition and development of battery metal projects in North America, South America and South Korea The company’s flagship Punitaqui mine has the potential to generate an annual EBITDA of up to $50 million at or above a copper price of $4.25/lb. with production targeted for H2 of this year BMR is working to secure final funding for the restart of mining and resumption of copper concentrate production from its Punitaqui complex; it in advanced discussions with several parties and has the goal of closing a funding agreement in the coming months In…

TuesdayMar 14, 2023 12:52 pm

Gold Spikes After Mixed US Jobs Report Released

The recently released U.S. jobs report revealed that the American economy added an additional 311,000 jobs in February. This was a significant reduction from the 504,000 positions created in January and represented an unemployment rate increase from 3.4% to 3.6%. There was a 0.2% month-over-month increase in average hourly earnings, less than the key 0.3% threshold, and there was a 4.6% increase compared to the expected 4.7%. PNC Financial Services chief economist Gus Faucher noted that although the report was a relatively strong one, it indicated that the U.S. Federal Reserve would have to continue raising benchmark interest rates and…

MondayMar 13, 2023 12:51 pm

Retired Franco-Nevada Chairman Sees Gold Reaching $2,400 by 2028

Chairman emeritus of Franco-Nevada and CEO of Fireside Investments Pierre Lassonde believes that gold will trade at as high as $2,400 per ounce by the year 2028. The precious metal will see its value soar as nations such as Russia get rid of the U.S. dollars they hold after the greenback was weaponized following the Kremlin’s invasion of Ukraine, Lassonde said. The former chairman of gold-focused royalty and streaming company Franco-Nevada Corporation suggested that we could see the emergence of a dual currency system by 2028. Speaking with Kitco News lead anchor and editor-in-chief Michelle Makori at the BMO Metals,…

MondayMar 13, 2023 9:00 am

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) subsidiary McEwen Copper adds $30 Million Boost from Nuton LLC to recent Stellantis investment of $155 Million, Plans for subsidiary IPO

McEwen Mining subsidiary McEwen Copper has been gaining increased financial support as it develops a major copper mine opportunity in Argentina described as one of the 10 largest undeveloped deposits in the world Mining giant Rio Tinto’s venture Nuton LLC has boosted last year’s $25 million investment into McEwen Copper with a new $30 million addition, all on top of the recent Stellantis investment of approximately $155 million The project in Argentina’s San Juan province benefits from a mining-friendly government and population The demand for copper is expected to continue to grow as a result of its importance to green…

FridayMar 10, 2023 11:39 am

UN Agency Seeks to Curb Mercury Use in Gold Mining

Artisanal gold mining refers to small-scale mining operations that often use basic tools and methods to extract and process metals and minerals. These operations often rely on toxic methods and tools to mine gems and metals, with the miners themselves working in hazardous conditions with little regulation regarding health and environmental pollution standards. According to planetGold program manager Ludovic Bernaudat, more than 100 million people earn their living from artisanal gold mining. Artisanal gold mines produce up to 20% of all the gold in the world and are responsible for more than 35% of the globe’s mercury pollution. A 2018…

ThursdayMar 09, 2023 1:14 pm

Expert Says Buying, Closing Coal Mines More Cost-Efficient Than Experimental Carbon Capture Technologies

There has been an increased investment in sustainable energy sources such as solar and wind, as well as research into carbon capture technologies (CCP) in recent years. Carbon capture involves “capturing” carbon dioxide emissions from processes such as steel production and burning fossil fuels for energy, and then storing the CO2 in geological formations deep underground. Over the past decade, the fossil fuel sector has spent millions of dollars lobbying federal lawmakers to provide billions of dollars for investment into carbon capture and sequestration (CSS) technologies in the 2021 Infrastructure and Jobs Act (IJA) and the 2022 Inflation Reduction Act…

WednesdayMar 08, 2023 1:26 pm

Report Reveals Central Banks Are Still Stockpiling Gold

The global economy has stagnated in recent years amid severe supply chain disruptions and geopolitical factors that exacerbated an already-existing energy shortage and caused energy prices to soar. Gold, which has traditionally acted as an inflation hedge by allowing people to preserve the value of their wealth, saw its performance stagnate in 2022 contrary to what investors would have expected. Increasing inflation levels forced the U.S. Federal Reserve to increase benchmark interest rates for several consecutive months and encouraged investors to pull their funds from the gold market. Instead, investors put their money in assets that would allow them to…

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