NewsRoom Articles - Page 65 of 187

WednesdayMar 06, 2024 12:15 pm

Traders Say Additional US Sanctions Likely to Hamstring Exports of Russian Coal to India

Traders who deal with coal from Russia believe the new sanctions the United States has imposed on Moscow will likely negatively influence imports of thermal coal from the Eastern European country to India. This, they say, is because the sanctions specifically mention Mechel and SUEK, leading Russian export companies. Mechel is a top producer of specialty steels in Russia and is involved in the manufacture of rolled products from different types of steel. SUEK is a flagship transportation logistics company in Russia that operates its own railway infrastructure. The Russian defense ministry is one of the company’s biggest customers. SUEK…

MondayMar 04, 2024 12:15 pm

Long Bull Copper Traders Stay on Sidelines as Markets Move Sideways

Funds are struggling to navigate the copper market amid rising volatility, choppy trading patterns and weeks of lackluster performance. Despite the critical role copper plays in shaping the global trade landscape and its expected role in the nascent green-energy sector, the red metal has been beset by choppy trade patterns. Volatility on the CME copper contract pointed to the challenges the fund faced in its efforts to predict future market movements as the globe transitions to renewable energy and clean technology. With rapid changes between bullish and bearish stances highlighting the difficulties associated with operating in a consistently narrow price…

MondayMar 04, 2024 9:00 am

Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) Poised to Play an Important Role in Powering the Globe’s Energy Transformation

Nickel demand as a green energy metal is expected to continue growing exponentially over the coming years and decades as the world continues its electrification revolution towards net-zero emissions Nickel is expected to witness continued demand from EV manufacturers, with the average EV containing upwards of 25 kilograms of nickel, as well as many other emerging battery uses and technologies High-grade sulfide nickel deposits are low in carbon intensity and make for cleaner, safer mines than Indonesian or Chinese sources, with carbon emissions 5-10x higher than Canadian high-grade nickel, not to mention many other environmental issues Fathom Nickel are seeking…

FridayMar 01, 2024 11:00 am

Fury Gold Acquires Newmont’s Eleonore South Project Stake

Canadian miner Fury Gold Mines has purchased Newmont Corporation (NYSE: NEM)’s nearly 50% stake in the Quebec-based Éléonore South project for $2.2 million. The high-grade gold exploration company will spend an additional $960,000 on the acquisition of around 30.4 million Sirios Resources shares held by Newmont as part of Éléonore South’s consolidation. Fury said the acquisition of Sirios shares was for investment purposes and that the company would continually evaluate the investment to determine the feasibility of any additional dispositions or purchases. Newmont recently announced that it was planning to divest six of its noncore properties, including the Yukon Territory-based…

ThursdayFeb 29, 2024 9:45 am

Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) Is ‘One to Watch’

A maiden mineral resource estimate for the Storm Copper Deposit is anticipated to be released in Q1 2024; an expanded drilling program is planned for 2024 to significantly increase the resource, and work is already underway to advance the low capex open pit mining opportunity toward development. In October 2023, the company closed a brokered private placement and a concurrent non-brokered private placement for proceeds of C$2.5 million. In March 2021, the company entered an option agreement that allows American West Metals Limited to earn an 80% interest in Aston Bay’s Storm Copper Project and Seal Zinc Deposit; America West…

WednesdayFeb 28, 2024 12:00 pm

Hecla Registers Near-Record Silver Production in 2023, Expects More Growth

Latest reports from Hecla Mining Company (NYSE: HL) show that the company recorded its second-highest yearly production in its history last year. In total, the mining company produced 14.3 million ounces of silver. Hecla, which is the biggest primary producer of silver in America, had silver reserves totaling 238 million ounces at the end of 2023, its second-biggest reserves ever as well. This is quite a feat, especially if one considers that the company lost five months of production after a fire incident occurred in the Idaho Lucky Friday mine. The Lucky Friday mine resumed operations in January of this…

MondayFeb 26, 2024 10:45 am

Indonesia’s Thermal Coal Exports Soar

Indonesia is set to surpass its 2023 sales after forecasted shipments for January and February 2024 soared by almost 25% in comparison to the same months in 2023. The country, which is the largest exporter of thermal coal globally, is expected to record more than 90 million metric tons of thermal and thermal bituminous coal sales in the first two months of this year. Last year, total exports from Indonesia surpassed 504 million tons. This has many expecting that exports this year will go even higher. The top markets for Indonesian coal thus far include China, the Philippines, South Korea,…

MondayFeb 26, 2024 9:00 am

GEMXX Corp. (GEMZ) Gets Significant Boost for Achieving 2024 Gold, Ammolite Jewelry Goals

Las Vegas-based mine-to-jewelry maker GEMXX Corporation is reporting a 600 percent YOY jump in product delivery values for the month of January The company produces iridescent Ammolite jewelry that it obtains from its own gem mines in Alberta and gold mines in British Columbia, controlling each step in its production chain with no long-term debt GEMXX entered the gold market during the past year, enjoying the precious metal’s stability and record prices amid outside economic fluctuations GEMXX is working to improve its valuation, anticipating S-K 1300 technical reports on four assets will further improve the company’s balance sheet North American…

FridayFeb 23, 2024 11:30 am

Canadian Exploration Companies See Dwindling Investment Despite Optimism for Green-Energy Metals

Data from the Prospectors and Developers Association of Canada (PDAC) has revealed that preproduction companies in Canada are seeing a drop in major investment despite the nation’s demand for green-transition metals. The data shows that while funding for such companies has all but disappeared, battery metals as well as uranium have experienced a surge in funding compared to gold. Last year represented the first time in a decade that the TSX Venture Exchange, where plenty of junior mining exploration companies are listed, didn’t see financing worth more than C$125 million. PDAC policy and program director Jeff Killeen says the exchange…

WednesdayFeb 21, 2024 11:45 am

Reports Say Commodities Have Better Prospects Than Current Reality Suggests

An analysis of January 2024 purchasing managers’ index (PMI) data by Macquarie Group has suggested that industrial commodities may be poised for a period of bullish growth. Macquarie’s analysis indicates that the global industrial cycle may be approaching a turning point after a series of recount lows. The Sydney-based diversified financial solution provider found that new global manufacturing orders saw a 12% month-over-month increase and hit 49.8, contradicting prior expectations of a policy-induced downturn. Purchasing manager index data is a critical indicator of the manufacturing sector’s health. An above-50 PMI indicates expansion in the manufacturing sector while a below-50 score…

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