NewsRoom Articles - Page 69 of 180

TuesdayOct 24, 2023 12:41 pm

Whitehaven to Buy Mitsubishi, BHP Coal Mines at $4.1B

Australian coal operator Whitehaven Coal will purchase two coal mines in Queensland from Mitsubishi and BHP Group, totaling $4.1 billion. BHP Group and Mitsubishi controlled the two mines through an equally owned joint venture and announced the sale after posting a close to 4% drop in iron ore output. The sale occurred at an auction that saw Whitehaven, currently the largest listed miner on the globe, scoop up the Blackwater and Daunia metallurgical coal mines. According to Mitsubishi, the deal was set at $3.2 billion, with the additional $900 million being paid over a three-year period under specific conditions. UBS…

TuesdayOct 24, 2023 9:00 am

Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Provides Update on Drill Program; Announces Low-Dilutive Capital Raise

Prospera Energy recently provided an update on the second phase of the company’s restructuring plan With its initial five horizontal wells and incremental crude production tracking ahead of expectations, Prospera have announced plans to continue their second phase beyond its initially mooted ten well program The company has now announced that it will proceed with a low dilutive capital raise of $3 million, with proceeds destined to fund the exploration company’s ongoing capex Prospera Energy (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B), a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western…

MondayOct 23, 2023 12:57 pm

Could Legacy Coal Have a Clean Future?

Coal’s contribution to human industrialization cannot be understated; the fossil fuel acted as a relatively efficient source of power during the Industrial Revolution, making it possible to convert iron ore into iron cheaply. This affordable iron was key to the development of infrastructure, such as the Ironbridge Gorge Bridge, and provided raw materials for the machinery used in industrial-age factories. However, despite coal’s role in humanity’s development, the fuel is a major carbon emitter and has played a major role in global warming. Most countries worldwide have now pledged to transition from dirty fossil fuels such as coal to renewable…

MondayOct 23, 2023 11:15 am

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) Reports Positive Initial Assays from Brazilian REE Drill Project

Canadian mineral explorer Appia Rare Earths & Uranium is working to develop sources for rare earth elements (“REEs”) vital to modern computer technologies, spanning sites in Canada and Brazil The company’s 17,551-hectare (43,369.5 acres, or 67.8 square miles) PCH Ionic Clay Project in Brazil has completed assay work on the initial 17 drill holes in the “Target IV” section of the project, finding REE mineralization in all of them to a depth of 13 meters With 147 holes drilled at the Brazilian site, Appia is optimistic that the high-grade values observed near the surface could lead to a mining and…

FridayOct 20, 2023 3:35 pm

Japan Revives Human Waste Use as International Fertilizer Prices Soar

With global fertilizer costs soaring to historic highs in recent years, the Japanese government is considering using recycled human waste as an alternative to conventional fertilizers. The ongoing Russia-Ukraine war has had massive global repercussions, including a severe fertilizer shortage, which has caused international fertilizer prices to spike. In 2021 alone, Russia exported a whopping 11.8 metric million tons of muriate of potash (MOP); 7 million metric tons of urea; 5.93 million metric tons of nitrogen, phosphorus, and potassium fertilizers; and 4.32 million metric tons of ammonium nitrate. Russia and Ukraine together provide around 28% of the world’s potassium phosphorus,…

FridayOct 20, 2023 10:30 am

Prospera Energy Inc. (TSX.V: PEI) (OTC: GXRFF) (FRA: OF6B) Increases Output as Canadian Oil Production Hits Record High

International Energy Agency (“IEA”) forecasts record oil production in Canada, global demand and prices expected to rise as Russia and Saudi Arabia cut production Prospera Energy operates 42,000+ cumulative acres, estimates approximately 8% of over half a billion available barrels was recovered using traditional vertical well technology The company completed Phase 1 of restructuring plan, production expanded from 80 to 1,200 BOE and NPV increased from $3 million to $72 million Phase 2 focuses on horizontal well transformation, piloting an enhanced oil recovery application, executing liability management objectives, and furthering ESG initiatives The company recently completed four horizontal wells of…

FridayOct 20, 2023 9:00 am

GEMXX Corp. (GEMZ) On Track to Exceed Estimated Production for the Season Following 2nd Clean-Out and Recording of Gold Production at Snow Creek Mine Site

GEMXX Corp., producer and distributor of gold and gems, draws on its own mining assets to manufacture its colorful jewelry, unique in the jewelry industry, and is the leading producer of top-quality finished Ammolite products. GEMXX just completed its second clean-out and recording of gold production at its Snow Creek Mine site, yielding 172.3 ounces of gold from 18,000 cubic yards of material, resulting in 0.96 ounces per 100 cubic yards. 2023 gold production is a huge milestone for the company, as it looks to de-risk its revenues and complement its Ammolite production, and the company is on track to…

ThursdayOct 19, 2023 1:24 pm

Abandoned Coal Mines Now Providing Winter Heating to Communities in Europe

A ground-breaking project in the English town of Gateshead is using abandoned coal mines to provide winter heating to hundreds of businesses and homes. The former coal community has been drawing heat from the warm water filling the labyrinth of old coal mining tunnels for the last six months. With an estimated one-quarter of homes in the United Kingdom sitting atop networks of coal tunnels, the pilot project shows that using abandoned coal mines for heating could be a feasible option for millions of UK residences. The project provides a means for the UK to leverage coal mines that are…

ThursdayOct 19, 2023 9:00 am

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) Advances Exploration Efforts in Brazilian REE Project Site

Canadian mineral explorer Appia Rare Earths & Uranium is acquiring project sites with rare earth element (“REE”) potential to help sustain American hemisphere independence in the REE supply chain The People’s Republic of China currently enjoys a near-monopoly over REE mining and production, leading Western nations to seek greater security for the metallic elements vital to modern computer technologies and the strong magnets used in them Appia recently reported updated results from its drilling programs designed to identify the extent of REE mineralization at the company’s project site in central Brazil, expressing excitement over the project’s potential The company is…

WednesdayOct 18, 2023 2:01 pm

Barrick Gold Positioned to End 2023 Strong

Barrick Gold Corporation has reported preliminary sales numbers for the third quarter of the year that will have the company close 2023 with a strong finish. The company reported Q3 sales of 101 million pounds of copper and 1.3 million ounces of gold and a preliminary Q3 production rate of 112 million pounds of copper and 1.04 million ounces of gold. While production in the third quarter was lower compared to prior production plans for the quarter, the numbers still put Barrick Gold on track to a strong finish as the year draws to a close. Barrick Gold may be…

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