NewsRoom Articles - Page 74 of 180

MondaySep 18, 2023 12:02 pm

Strong Dollar, High-Interest Rates Squeeze Precious Metals

Precious metal ETFs have struggled over the past week amid dips in platinum, silver and gold prices. Silver ETFs iShares Physical Silver ETC and the Wisdom Tree Physical Silver ETC went down by 5.940% and 5.945% respectively while gold prices dropped by 1.22%. Several months of high-interest rates coupled with a strong dollar have suppressed upward mobility in the precious metals market in recent weeks. Multiple interest rate hikes by the U.S. Federal Reserve have pulled investor interest away from gold for several months as investors chose to spend on assets that pay interest such as real estate, government bonds…

MondaySep 18, 2023 9:00 am

First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) Focused on Finding, Delivering Tellerium, the ‘Bright Future of Solar Energy’

USGS reports that tellurium’s primary use is for manufacturing films essential to photovoltaic solar cells Most tellurium is indirectly mined because it is a byproduct of milled copper, iron and other base-metal-rich ore bodies First Tellurium is exploring, developing tellurium projects, confident that demand for tellurium will increase Calling tellurium “the bright future of solar energy,” the U.S. Geological Survey (“USGS”) has prepared a report about the rare metal as part of its mission to conduct research and provide information about nonfuel mineral resources (https://ibn.fm/TdWoi). As a company committed to exploring and providing green and critical metals, First Tellurium (CSE:…

FridaySep 15, 2023 2:37 pm

Solar Projects Mushroom on Coal Sites as US Tax Bonuses Lure Investment

Credit schemes provided by the 2022 Inflation Reduction Act (IRA) are causing solar projects to pop up across America. While the United States plans to phase out coal use in favor of renewable energy over the next couple of decades, the transition to clean energy will have a major impact on employees within the coal mining and coal-fired power plant segment. U.S. jobs in the coal mining industry have been decreasing for some time and went down by 59% in the East and 38% in the West from 2008 to 2021, indicating a general decline in the profitability of coal.…

FridaySep 15, 2023 9:45 am

Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) Announce New Mining Updates; Confirm Timeline for NI-43101 Compliant MRE Report Publication

Eloro Resources recently provided an update on the company’s ongoing exploratory drill work Recent findings revealed a number of holes with well-mineralized intersections, suggesting both – robust mineralization trends as well as an ever-widening prospective target area Global tin demand is set to grow by nearly a third over the next 8 years, however, the supply growth picture is looking increasingly tenuous Eloro Resources looks well positioned to capitalize from the ongoing growth in demand for the commodity, with the company having published its inaugural MRE report at the end of August Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM),…

ThursdaySep 14, 2023 9:00 am

The Top 10 Producers of Gold in H1 2023

This year has been a great year for mergers and acquisitions in the global gold industry amid record gold purchases by central banks across the world. The biggest news in the gold sector was Newmont Corp.’s $19.2 billion acquisition of Australia-based Newcrest Mining, undoubtedly one of the largest gold producers on the globe. With the Colorado-based Newmont Corp. playing an equally large role in global gold production, the acquisition cemented Newmont’s status as the undisputed top gold producer. A recent report from Mining Intelligence ranked Newmont as the largest producer of gold at 2,514 koz of the precious metal produced…

WednesdaySep 13, 2023 1:13 pm

China Bumps Up Gold Reserves for 10th Straight Month

China has increased its gold reserves for the 10th month in a row, extending its efforts to diversify from the greenback by building up a massive stockpile of gold. The People’s Central Bank of China revealed last week that its gold holdings went up by 930,000 troy ounces (29 tons) last month, bringing the country’s total gold reserves to around 2.165 tons. China has been at the forefront of a historic gold-buying run by central banks in recent months, adding around 217 tons of gold to its reserves since last November. The Asian nation’s central bank began scooping up gold…

TuesdaySep 12, 2023 10:49 am

Codelco Issues Bonds Worth $2B to Boost Copper Production

Chilean copper production giant Codelco recently raised $2 billion in a bond offering as part of its ongoing efforts to expand its copper production output. Codeldco issued 10-year notes with a 5.966% yield for $1.3 billion and 30-year notes with a 6.331% yield for $700 million. The company recently set its lowest annual production guidance in 25 years and plans to increase copper output. However, company executives have been hampered by project delays and issues at copper mines. According to Codelco chairman Maximo Pacheco, production delays at the miner are the result of execution, not limited funding. Declines in copper…

MondaySep 11, 2023 1:35 pm

Analysis Finds Australia’s Per Capita Emissions of CO2 Highest Among G20 Nations

Recent analysis has revealed that Australia produces more per capita greenhouse gas emissions from coal combustion than other G20 countries. Although Australia and South Korea have seen a significant increase in wind and solar energy in recent years, cutting per-person emissions from coal-generated electricity by 26% and 10% respectively from 2015, analysis from energy think tank Ember shows that both nations still emit more carbon dioxide than other leading economies. China ranks third in terms of per-capita emissions after Australia and South Korea, thanks to a 30% increase in CO2 emissions from coal-fired electricity over the past seven years. Like…

FridaySep 08, 2023 2:11 pm

Why Adding Gold to 2023 Investment Portfolio Could Be a Wise Move

The past couple of years have been a rollercoaster for gold. Inflationary pressures should have caused gold prices to surge, but consistent interest rate hikes by the U.S. Federal Reserve kept investor attention on other interest-paying assets. And then, in mid-2022, a record gold purchase run by central banks around the world caused gold prices to spike and hit record highs. As central banks reigned in their gold purchases, demand for the precious metal reduced significantly and prices dropped to a five-month low in mid-August. Despite its relatively volatile performance in recent years, adding gold to your investment portfolio in…

ThursdaySep 07, 2023 3:31 pm

Taliban Reveals It Has Penned $6.5B Worth of Mining Deals

Nearly two years after Taliban fighters marched into Kabul and took over Afghanistan’s ruling capital, the militia says that it has signed seven mining contracts worth $6.5 billion. According to an Associated Press report, the Taliban claims to have signed the mining contracts with local companies with ties to Turkey, China and Iran. Abdul Ghani Baradar, the Taliban government’s deputy prime minister for economic affairs, provided scant details about the mining deals but noted that the deals would create thousands of new job opportunities and bolster Afghanistan’s struggling economy. Afghanistan is one of the poorest countries in the world. Its…

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