NewsRoom Articles - Page 52 of 126

ThursdayNov 10, 2022 10:35 am

Emerging Markets’ Central Banks Have Increased Gold Purchases

For the longest time, investors, corporations and countries have used gold as a store of value during times of economic upheaval. While other assets and traditional currencies such as the dollar are known to depreciate when the economy stagnates, gold mostly retains its value even as economic conditions deteriorate. Storing assets and cash as gold bullion has historically allowed investors to weather economic downturns without losing the value of their investments and assets. With global economic conditions stagnating in recent years and experts predicting that there will likely be a recession in late 2023 or early 2024, it seems that…

WednesdayNov 09, 2022 12:54 pm

Gold Slides Further as Fed Raises Interest Rate Yet Again

Gold has not been performing great for the past couple of months. Although the precious metal has traditionally acted as a store of value during times of economic upheaval, current circumstances have posed a challenge to this status. With geopolitical factors have had a negative effect on the worldwide economy, several central banks around the world have been quite hawkish in an effort to prevent inflation. The U.S. Federal Reserve has been especially hawkish in recent months as economic conditions have deteriorated, increasing benchmark interest rates for more than three months consecutively to forestall economic inflation. However, these efforts have…

TuesdayNov 08, 2022 1:34 pm

Indonesia Considers Three-Step Plan to Close Coal Plants

Indonesia recently introduced three options to shut down its coal-fired power plants in an effort to meet its net-zero emissions target. The lengthy lifespan of Indonesia’s coal plants, which generate most of the country’s power, are the main obstacle to meeting the nation’s emissions goal. To address this issue, the country has established a financing platform for its renewable energy projects, which includes the program to halt the operations of its coal-fired power plants. Indonesia has also appointed PT Sarana Multi Infrastruktur, a state-owned financing company, to manage the funds. Despite the lengthy process, experts are optimistic that stakeholders will…

MondayNov 07, 2022 12:47 pm

Kazatomprom Plans to Increase Uranium Quota on Trans-Caspian Route

National Atomic Company Kazatomprom, the largest producer and seller of natural uranium globally based in Kazakhstan, is planning to increase its quota limit on the trans-Caspian route. The company has used the Trans-Caspian International Transport Route since 2018 as an alternative to the route that passes through St. Petersburg. The primary reason for this was to help alleviate the risk of the other route becoming inaccessible. In its latest results, Kazatomprom stated that its uranium shipments had continued to be shipped through St. Petersburg until now and that no restrictions on activities associated with the supply of its materials had…

FridayNov 04, 2022 12:48 pm

Covid-19 Outbreaks Affect China’s Coal Industry as Winter Nears

The restrictions imposed in China to help contain the spread of the coronavirus are pushing up the price of coal and constraining the fuel’s supply. Coal traders show that spot prices for 5,500kcal thermal coal had increased by 9% in October, hitting a seven-month high of 1,650 yuan per ton. Data from the National Health Commission shows that top coal-producing regions in the country have recorded hundreds of coronavirus cases, which has disrupted coal trade. The introduction of strict measures has even made it hard for some mines to ship the fuel out, which has caused production to stall. This…

ThursdayNov 03, 2022 1:54 pm

Tightening Supply of Nitrogen Fertilizer Raises Concerns About Food Security

The president of Yara International, Svein Tore Holsether, is worried that the production of food may be affected by the tightening of fertilizer supply. Yara International is the largest fertilizer firm in the world, producing, distributing and selling nitrogen-based mineral fertilizers and related industrial products. During the company’s most recent conference call, Holsether stated that Yara was deeply concerned about the state of agriculture globally, noting that global food supply couldn’t be maintained without nitrogen. The increase in the price of natural gas has forced manufacturers of fertilizer to cut down production amid the escalating food crisis. The latest data…

WednesdayNov 02, 2022 1:25 pm

Utility Firm Considers Switching Coal Facilities into Nuclear Plants

Coal’s contribution to human civilization cannot be understated. It was first used for heating and cooking before fueling the Industrial Revolution. However, centuries after man began using coal, it has become abundantly clear that the fuel has a significant impact on the environment. Decades of burning coal have filled the atmosphere with carbon dioxide and caused the planet to heat up. We are already seeing the impact of this global warming, with some regions of the world experiencing constant droughts and other extreme weather events such as wildfires, extremely low temperatures and flooding. As such, there has been a global…

TuesdayNov 01, 2022 12:08 pm

Research Shows Need to Consider Consequences of Mercury Mitigation Strategies in Artisanal Mining

New research has highlighted that it is important to focus on the effects of the interventions proposed to limit the use of mercury, which is considered to be a highly toxic pollutant, in artisanal and small-scale gold mining (ASGM). This conclusion is based on an analysis conducted by researchers at the University of Tokyo and Ritsumeikan University in Japan. The researchers’ objective was to examine the possible unintended consequences of the strategies proposed to minimize emissions and the use of mercury in artisanal and small-scale gold mining under the Minamata Convention on Mercury. The Minamata Convention, which was launched in…

MondayOct 31, 2022 11:56 am

Bearish Market Conditions Put Pressure on Silver, Gold Prices

The strength of the U.S. dollar growing on the foreign exchange market, low prices of crude oil and increasing government bond market yields are negatively affecting consumer demand for safe-haven metals such as silver and gold. Market watchers are paying attention to Asian shares following President Xi Jinping’s power grab at the most recent communist party meeting. During the meeting, the Chinese president had aids remove a former party leader seated next to him from the National Congress. This action led stocks in the Asian market to drop, with investors in Asia expecting that Xi will soon move the country’s…

FridayOct 28, 2022 10:11 am

Coal Projects Finding It Hard to Obtain Insurance Cover

A new report has found that projects featuring coal outside China are becoming uninsurable. This is because insurance companies have stopped underwriting the project. The latest industry scorecard by Insure Our Future shows that commitments to stop insuring coal by major insurers such as Travelers and AIG have reduced the number of insurance exit policies for coal to 41. This scorecard rates the major fossil fuel insurers around the globe based on the quality of their exclusion policies for fossil fuel. It shows that 39% of the primary insurance market and more than 60% of the reinsurance market are covered…

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