NewsRoom Articles - Page 96 of 165

WednesdaySep 07, 2022 12:18 pm

Energy Crisis Prompts China to Increase Investments into Coal

China has braved an energy crisis brought on by drought and scorching heat waves these last few months, with some parts of the country suffering power outages on a daily basis. It is said that increased coal import costs and reckless control of the domestic production of coal may have also affected energy supply in China. The crisis has seen the country focus on strengthening its energy security by increasing investments into coal-fired power stations in an attempt to meet demand. For decades, the country has tried to decrease its dependency on coal. During the announcement of its five-year plan…

TuesdaySep 06, 2022 11:47 am

Why Uranium Expected to Boom in Near Future

Fossil fuels such as crude oil, natural gas and coal have been used for more than a century, which makes them the biggest polluters of the environment as well as the biggest culprits of climate change. Unlike fossil fuels, nuclear energy is a zero-emission clean source of energy. This means that nuclear energy doesn’t produce greenhouse gases, which greatly contribute to climate change. Uranium is the most common fuel used in nuclear fission power stations to generate power. As the use of nuclear energy increases, uranium stocks are expected to boom. Below are some reasons to support the belief that…

FridaySep 02, 2022 10:28 am

Slow Permitting Process Could Undermine Biden’s Aim of Boosting Domestic Mining

Batteries are poised to play a major role in industries over the next decades amid global efforts to cut down reliance on fossil fuels and switch to sustainable energy. In plenty of countries, this involves steadily replacing conventional gasoline-powered cars with battery electric vehicles (BEVs) that are powered by lithium-ion battery packs. The efforts will also involve significant investment in stationary power-storage solutions that will be used to store power during off peak hours before releasing it back into the grid during peak consumption hours. However, a significant chunk of battery metals are processed in Asia, more specifically China, and…

ThursdaySep 01, 2022 11:20 am

Biden Administration Considers Financing Canadian Mining Companies

The manufacture of low-carbon transportation and energy products such as electric cars needs unique raw materials and minerals, which are usually processed and produced in China. Since these minerals aren’t mined in America, the Biden Administration is considering financing Canadian metal and mining firms. Canada is said to hold vast wealth in untapped mineral potential, which government officials have invested considerable money and time into developing. The Canadian government is planning to invest billions into a critical minerals strategy, which officials believe will allow the country to launch its battery supply chain in the near term. Figures show that more…

WednesdayAug 31, 2022 1:24 pm

Pressure on Gold Eases After Recent Federal Reserve Meeting

The U.S. economy has entered a technical recession, with data from the Bureau of Economic Analysis showing that the country’s GDP dipped by almost 1% in the second quarter of the year. This comes after a 1.6% drop recorded in the first quarter. Last month, the Federal Open Market Committee hiked interest rates by more than 70 basis points, to reach 2.25%–2.50%. While the Federal Reserve has been tightening its monetary policy, the fed has yet to turn restrictive or hawkish. This is because it raised the rates to a neutral level, moving from rates that were extremely accommodating to…

TuesdayAug 30, 2022 12:21 pm

S&P Global Says Gloomy Economic Outlook Dampened Mining in Q2

The second quarter of the year has been rough on the mining industry. With production costs on the rise and the global economy faltering in recent months, fortunes have dimmed substantially in the mining sector in recent months. Global mining activity has slowed down since June, and according to analysts from S&P Global Market Intelligence, lower metal prices and an increasingly negative global economic outlook are to blame. Senior analyst Sean DeCoff said in a quarterly report, titled “State of the Market; Mining Q2,” that the valuations of metals and the companies that mine them have been impacted by worsening…

MondayAug 29, 2022 12:25 pm

Industrial Info Resources Says More CAPEX Going to Coal vs. Copper

Industrial Info Resources recently released new data showing that more than 4,700 metals and minerals capital projects are currently being constructed across the globe. These projects, which include mining, processing and refining, have an aggregate investment value of $443 billion. Industrial Info Resources provides industrial global market intelligence. Its data also showed that some 10,580 projects, with a combined value of $1.1 trillion, were under active planning and engineering. The firm’s VP of research, Joe Govreau, stated that these figures represented an 8% increase from the prior period, attributing the increase to the restarting of projects that had been delayed…

FridayAug 26, 2022 12:12 pm

Oil, Gas Industries to Benefit from Recently Signed Climate Bill

Earlier in January, the oil industry in America hit a snag when a natural gas and oil lease sale in the Mexican Gulf was struck down by a judge, who cited future global warming emissions as the primary reason. This move reduced new offshore drilling opportunities for players in the market, such as Exxon and Chevron, while increasing concerns on climate change. This setback was short lived, however, after President Joseph Biden signed a climate bill that guarantees new drilling opportunities in Alaska and the Mexican Gulf. The measure also bypasses his administration’s climate change concerns about emissions. This bill,…

ThursdayAug 25, 2022 12:03 pm

Kazatomprom Announces Plans to Ramp Up Production of Uranium in 2024

In its latest mid-year financial update, Kazatomprom revealed that it planned to increase its production for uranium in 2024. Kazatomprom is the biggest producer and seller of natural uranium globally, producing more than 40% of primary uranium supply. The company, which operates as Kazakhstan’s national operator, is involved in the import and export of uranium and its compounds. Yerzhan Mukanov, the company’s chief operational officer and acting CEO, announced that taking into account evolving production and mine-development constraints, the company expected to increase potential uranium production by between 2,000 to 3,000 tU in 2024. Mukanov also stated that the substantial…

WednesdayAug 24, 2022 11:49 am

Global Food Crisis Looms as Fertilizer Shortage Worsens

A fertilizer shortage affecting countries around the globe is threatening to make the already severe global food crisis even worse. Fertilizers are manufactured using three main ingredients: potassium, phosphorus and nitrogen. They are usually used to improve soil fertility by introducing the nutrients needed by plants that are missing or not adequate into the soil. United Nations officials have given more warnings about the looming fertilizer crisis, as vulnerable nations in continents such as Africa deal with the significantly higher prices. Smallholder farmers on the African continent feed the majority of the population. Data from the African Development Bank shows…

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