NewsRoom Articles - Page 68 of 188

MondayJan 29, 2024 1:14 pm

Copper Market Turns Bearish as Demand Falters

Funds have begun adopting increasingly bearish stances on copper as the market reels from the sudden loss of 600,000 tons of expected copper supply. Most experts and the copper market itself expected to produce a surplus of copper in 2024, but the unexpected loss of more than one-half a million tons of copper supply threw the market into a sudden deficit. In late 2023, the Panama government instructed a Canadian mining and metals company to shut down its lucrative Cobre Panama copper mine after the country’s Supreme Court invalidated its operating license. The mine was responsible for 1% of the…

FridayJan 26, 2024 12:25 pm

Looming Supply Deficit Could Make Copper Outperform Gold in 2024

American Pacific Mining Corp CEO Warwick Smith has revealed that copper could outperform gold in 2024 due to a looming supply deficit. Gold has made significant gains in recent months as the ongoing Gaza crisis increased fears of a broader war in the oil-production region and pushed more investors to the precious metal. However, Smith noted during a recent Kitco News interview that supply issues in the copper supply chain could help the metal outperform gold. Smith said that while gold will remain an important product in American Pacific Mining Corp’s lineup, copper is his “favorite metal for the moment”…

FridayJan 26, 2024 9:00 am

GEMXX Corp. (GEMZ) Continues on Path to Disrupt Gold and Gemstone Industries

GEMXX recently provided an update to shareholders outlining its 2023 milestones and expansion plans for 2024 and beyond In 2023, the company acquired a 50% interest in Crazy Horse Mining Inc. (“CHMI”), a Canadian exploration company whose assets include 100% interest in two gold projects in British Columbia GEMXX, in collaboration with CHMI, completed the clean-out of the Snow Creek property and recorded positive results showing that the processing of the stockpile yielded 0.929 ounces of gold per 100 cubic yards The company has engaged independent experts to complete S-K 1300 reports on its gold and Ammolite assets to enable…

ThursdayJan 25, 2024 3:07 pm

Researchers Say a Worldwide Inventory of Mines is Needed

Mining is a necessary industry, especially since we depend on everything from sand and iron to gravel and copper in the modern world. Even with the shift to the use of cleaner energies as we work to reduce our CO2 emissions globally, we know very little about what goes on in this crucial industry around the globe. Experts believe that the lack of strong data on different aspects of mining operations and the absence of a comprehensive inventory of mines around the globe may be obstructing efforts for sustainability in this sector. A recent article published in the “Nature” journal…

WednesdayJan 24, 2024 2:56 pm

Last Year Saw Coal Exports, Power Generation Reach Record Levels

London-based environmental think tank Ember has revealed that global coal exports and coal-fired power generation reached record highs in 2023 despite worldwide efforts to reduce coal use. The nonprofit think tank found that for the first time, thermal coal exports exceeded a billion metric tons as nations across the globe increasingly used coal to generate electricity. Coal-fired power generation reached 8,295 terawatt hours (TWh) by October 2023, increasing by 1% from the same period the previous year and making history as the highest amount of coal-fired electricity on record. Ship-tracking data from Brussels-based data and analytics company Kpler shows that…

WednesdayJan 24, 2024 9:00 am

GEMXX Corp. (GEMZ) Provides Updates on Progress to Acquire 50% Interest in Yukon Gold Project Property as Part of Long-Term Asset Expansion Plan

GEMXX in September signed a binding letter of intent to acquire a 50% interest in the historic Yukon Gold Project, which holds 2,210,660 ounces of proven gold resources, and potentially holds a total of 4 million ounces of gold The company recently updated the progress made in the review and verification of previously completed exploration work as part of the due diligence process to purchase the Yukon Gold Project property GEMXX is also assessing the data to determine whether other minerals and/or rare earth elements are also commercially viable on the property The move to acquire the Yukon Gold Project…

TuesdayJan 23, 2024 1:22 pm

Miners Find Workaround Against Ongoing Narco War in Ecuador

Ecuador has suffered an escalating drug trafficking-related security crisis since 2020 that culminated in the Ecuadorian government declaring war on armed gangs after masked gunmen broke into a public TV station during a live broadcast. Despite this, the country’s young mining sector is taking steps to work around the escalating violence and continue production. Ecuador contains extensive mineral resources and is one of the world’s largest exporters of copper, silver and gold. Gold and silver mines owned by China-based Tongling Nonferrous Metals Group Co. and Canada-based Lundin Gold Inc. have continued production at normal rates even as Ecuadorians prepare for…

MondayJan 22, 2024 2:22 pm

Copper Slides on Market as US Dollar Gains Ground

Gains by the U.S. dollar caused copper prices to fall last week, but renewed hopes for increased stimulus in China curbed the metal’s losses. The dollar saw its value rise to a one-month high after comments made by U.S. Federal Reserve Board Governor Christopher Waller contributed to reduced investor expectations of a benchmark interest rate cut in March. London Metal Exchange CMCU3 three-month copper prices decreased by 0.2% to trade at $8,363 per metric ton after the official’s comments. Waller said that although the country was “within striking distance” of the Fed’s 2% inflation goal, the central bank shouldn’t be…

FridayJan 19, 2024 3:10 pm

Cracks Inside Tailings Facility Force Newmont to Suspend Gold Processing

The Telfer mine located in Pilbara, Western Australia, has halted its processing operations following cracks that were detected at a tailings dam on site. Tailing dams are used to store mining operation byproducts, which can be toxic on mine sites. The gold and copper and silver mine, which was discovered by Newmont Corporation (NYSE: NEM) (TSX: NGT) in 1972, is situated 200 kilometers east of the towns of Nullagine and Marble Bar and 400 kilometers southeast of Port Hedland. The mine is located in the Great Sandy Desert of Western Australia, on the land of the Martu people. Mineralization in…

ThursdayJan 18, 2024 2:24 pm

The Disconnect Between Gold, Inflation Again Manifests as Inflation Data Is Published

Although gold has historically served as an inflation hedge, there has been a disconnect between the precious metal and inflation in recent years. Several years of crisis after crisis caused inflation levels to rise globally, but gold prices failed to rise in turn, frustrating many investors who would have used gold to preserve the value of their portfolios. The most recent round of U.S. inflation data brought this disconnect to the fore again when gold prices failed to rise despite hotter-than-expected inflation levels. Gold’s failure to rise in value alongside rising inflation levels is primarily due to action by the…

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