NewsRoom Articles - Page 81 of 200

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…

WednesdayJan 17, 2024 3:26 pm

Wind Energy Overtakes Coal Use as Electricity Source in Europe

For the first time in Europe’s history, wind-powered energy generation surpassed electricity from coal in the fourth quarter of 2023. Energy think tank Ember found that European power producers used wind power sites to generate a record 193 terawatt hours (TWh) of electricity from October to December 2023 compared to 154 TWh from coal power plants. Last year's final quarter saw wind generation increase by more than 20% compared to the same time window in 2022, even though the wind installation industry was constrained by factors such as high financing, material and labor costs. These factors could be mitigated by…

TuesdayJan 16, 2024 10:30 am

Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Doubling Down on Separation and Refining of Critical Metals Amid China’s Ban on Export of Rare Earth Technology

Ucore, a company engaged in the exploration for and separation and scalable production of REEs in Canada and the US, views China’s recent ban on the export of technology to produce rare earth permanent magnets as an opportunity Through this ban, the company looks to grow and assert its dominance in the sector, all while doing away with dependence on China This is made possible by its RapidSX(TM) technology, which it has been slowly perfecting It is also made possible by its Demonstration Program, along with its Louisianna facility that sets it on track to separating friendly REEs and OEMs…

FridayJan 12, 2024 12:42 pm

Factors That Could Affect the Graphite Market in 2024

Graphite is a critical mineral used in electric car batteries as well as in pencils, cores for nuclear reactors and brushes for electric motors, among other things. As the use of electric cars continues to grow globally, the demand for this particular metal is expected to increase. The mineral, either natural or synthetic, can be used in battery anode applications. It is usually built into the anode, with each battery containing anywhere from 50–100 kg of graphite. While synthetic graphite currently occupies a larger share of the market, end users abroad prefer using more natural graphite instead of synthetic graphite…

ThursdayJan 11, 2024 3:03 pm

China Bans REE Technology Exports, Cites ‘National Security Concerns’

This year may prove to be an even more volatile year for the rare earth element (REE) supply chain after China announced a ban in late 2023 on the export of technology used to develop rare earth magnets. Although China noted that the REE technology export ban is due to “national security concerns,” this may be the latest sign that Beijing is hitting back against U.S.-led bans on the sale of advanced chips to Chinese companies by leveraging its dominance in the global rare earth element sector. The ban will undoubtedly impact the creation of rare earth magnets in foreign…

WednesdayJan 10, 2024 4:01 pm

Emissions in Germany Drop to 70-Year Low Amid Drop in Coal Use

Greenhouse gas emissions in Germany hit a 70-year low in 2023, thanks to the country’s reduced reliance on coal for energy generation. Europe’s largest economy has been cutting coal use as part of efforts to combat climate change, and according to research institute Fraunhofer ISE, Germany has reduced coal power production to the lowest levels since 1963. Germany’s total share of coal-fired power production had fallen by nearly one-third in 2023, bringing the fossil fuel’s share of the country’s net power generation to just 26% compared to renewables at almost 60%. A study from the German think tank Agora Energiewende…

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