NewsRoom Articles - Page 76 of 182

WednesdaySep 20, 2023 1:08 pm

Saudi Arabia’s Foray into Critical Metals Bodes Well for Energy Transition

Following a slew of investments in mining facilities and companies, Saudi Arabia has ventured into the critical metals market. Investments in this market are crucial for advancing the development of world-class mining assets. The country’s latest deal is valued at $2.6 billion and involves the biggest mining company in Brazil, a move that may cement its place in this billion-dollar market. The deal is a joint venture between Ma’aden, the state mining company and the nation’s sovereign wealth fund. It will see Saudi Arabia purchase a 10% stake in the base metals’ division of Vale S.A., which has an estimated…

WednesdaySep 20, 2023 10:30 am

First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) Exploration at Deer Horn Provides Key Data for September Drill Program

CEO notes that prospecting, mapping and sampling have provided an extensive base of information to support drilling and IP survey Last month’s property-wide mapping and sampling program confirmed a structural connection between two key sections of the property This month’s drilling program will test the extent of the mineralization and study how the systems at Deer Horn and Pond are related First Tellurium (CSE: FTEL) (OTCQB: FSTTF) has wrapped up a property-wide mapping and sampling program at its Deer Horn property in west-central British Columbia and is preparing to launch a drill program later this month (https://ibn.fm/1qlq6). Based on data…

TuesdaySep 19, 2023 2:00 pm

Biden Seeks Mining Law Reform to Compel Extraction Firms to Pay Royalties for Gold, Copper

The Biden-Harris administration is seeking mining law reforms that would require mining companies to pay royalties for extracting minerals from U.S.-owned lands. Led by the U.S. Interior Department, the administration is calling for changes to a century-and-a-half-year-old mining law that governs the mining of gold, copper and other hardrock minerals. These changes include levying royalties on mining companies based on the minerals they extract, a first in the U.S. mining industry; creating a mine leasing system; and coordinating permit issuing efforts across a variety of federal agencies. These recommended changes come at a time when top U.S. leaders are emphasizing…

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…

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