July 2024 - Page 2 of 3 - MiningNewsWire

TuesdayJul 16, 2024 9:45 am

GEMXX Corp. (GEMZ) Plans to Fully Harness Potential of Two Promising Target Basins in Latin America, Bolstered by Recent Strategic Addition to Primary Investment Target’s Board

GEMXX recently announced the addition of Ali S. Abood to the board of its primary investment target, Latin Energy Partners (“LEP”) The company signed in early June a definitive agreement with LEP to drill four test wells in a highly promising geological formation in Latin America GEMXX and LEP are joining forces to fully harness the potential of two target basins estimated to hold more than 1 billion barrels each of recoverable oil The strategic addition of Mr. Abood to LEP’s board aligns with its commitment to strengthening its investment portfolio and expanding its influence in the global energy sector…

MondayJul 15, 2024 10:00 am

How Gold Could Be Impacted If US Inflation Drops

We have seen the Federal Reserve increase rates of interest and hold those rates to deal with inflation over the years. During this period, the price of gold has been strong, with the metal recently reaching a new level of more than $2,400 in May. While the yellow metal’s price has dropped slightly since then, it’s still more than 20% higher than prices recorded last year. With inflation demonstrating signs of moderating, the price of this precious metal may be affected. High levels of inflation are known to bolster gold’s price, with most investors using the yellow metal as a…

MondayJul 15, 2024 9:00 am

Copper Crunch Looms: Torr Metals Inc. (TSX.V: TMET) Makes Discoveries as Demand Outpaces Supply

The International Energy Agency predicts that existing and planned mines will only meet 80% of global copper needs by 2030 Torr Metals is developing two highly prospective copper-gold projects in Canada, one of the most mining-friendly and infrastructure-rich jurisdictions in the world In June, Torr Metals released the newest exploration data from Kolos in the Quesnel Terrane, a mining district in south-central British Columbia Several active mines operate within the Quesnel Terrane, including the four largest copper producers in Canada, being the Highland Valley, Gibraltar, Copper Mountain, and Mount Milligan mines Copper, a critical metal nicknamed an “economic barometer” due…

FridayJul 12, 2024 10:00 am

The Top 10 Global Gold Extraction Companies

Gold has performed well thus far in the year; its significance as a safe-haven asset growing as supply works to keep up. Data from the World Gold Council shows that during the past four years, global gold production has steadily increased. Below, we look at 10 of the top gold mining companies globally, based on their 2023 output. Newmont Corporation As of Dec. 31, 2023, this Colorado-based gold mining company had produced a total of 5.5 million ounces from its operations, which cover four continents. This figure, while high, represents an 8% drop in output when compared to 2022 data.…

ThursdayJul 11, 2024 9:45 am

Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) Outlines Plans for Fully Funded Exploration Program at Epworth Project

Aston Bay reports on 2024 exploration plans for Epworth sediment-hosted copper-silver-zinc-cobalt project located in Nunavut, Canada Property has impressive copper, silver, zinc and cobalt grades at the surface Project includes airborne electromagnetic and magnetic survey, geological and structural mapping, prospecting, and rock and lake sediment sampling With silver and copper projections looking good for this year, Aston Bay Holdings (TSX.V: BAY) (OTCQB: ATBHF) has announced its 2024 exploration plans for its Epworth sediment-hosted copper-silver-zinc-cobalt project located in Nunavut, Canada (https://ibn.fm/CcBjS). Aston Bay is a publicly traded mineral exploration company exploring for high-grade critical and precious metal deposits in Canada and the United…

WednesdayJul 10, 2024 10:00 am

Canada Gives Glencore Conditional Approval to Take Over Teck Coal Unit

Last week, the government of Canada approved the acquisition of a steelmaking coal business by Glencore from Teck Resources, albeit with strict regulations to preserve jobs. This approval comes after a consortium led by Glencore entered into one of the biggest deals in the mining sector to acquire the steelmaking coal unit for $9 billion in November 2023. Prior to sealing the deal, Glencore had offered to pay $8.2 billion for this unit. Jonathan Price, CEO of Teck Resources, stated that company management had spent time engaging with different counterparts and were focused on taking time to deliver the best…

TuesdayJul 09, 2024 9:45 am

Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) and JV Partner Obtain Key Financing, Move Forward with Storm Copper Project Development

American West Metals Limited entered into binding agreement with Australian-based Taurus Mining Royalty Fund L.P. The royalty funding supports the advancement of the Storm Copper Project The investment from Taurus is a strong endorsement of the potential at Storm Aston Bay Holdings (TSX.V: BAY) (OTCQB: ATBHF), a publicly traded mineral exploration company, and its joint venture partner, American West Metals Limited, are making significant plans to move forward on development of the Storm Copper Project, located in Nunavut, Canada. The plans follow the announcement that American West secured nondilutive financing from a leading royalty fund to support exploration and development…

MondayJul 08, 2024 10:00 am

Growing Gold Demand Leads to Delinking from Traditional Relationships

The price of gold this year has increased significantly, even going as far as to record new highs in May. The precious metal has continued defying conventional market correlations with equity markets and the U.S. dollar, as investors in America increase their physical buys. During this period, we have also observed steady demand of gold from China and strong purchases from central banks as well. Customs data from China demonstrates a 34% increase in metal purchases in the first quarter of the year over 2023. Shanghai premiums are going for about $48 an ounce, which indicates strong demand. While most…

FridayJul 05, 2024 10:00 am

New Report Discusses Graphite Market’s Prospects Between 2024–2035

A recently released report has provided crucial insights into the graphite industry, focusing on its applications, future projections and current market trends across various industries. Graphite is a mineral needed for the green transition, with current demand growing in markets such as renewable energy storage and electric vehicles. The mineral has different properties, including the fact that it is a good conductor of electricity and heat. Graphite also maintains strength and firmness up to temperatures of over 3600o C. In addition, it is corrosion resistant. Graphite is used in various industries, including powder metallurgy, steelmaking, automotive, flame retardants, solar and…

WednesdayJul 03, 2024 10:00 am

LNG Failing to Dent Coal’s Position in China’s Energy Mix

Many have touted the use of liquefied natural gas (LNG) as a way to reduce the use of coal to help decrease emissions. Below, we look at LNG’s role in reducing coal use in China, which is the biggest consumer of coal globally. Generally, there is minimal evidence to support arguments that imports of liquefied natural gas into China will hugely impact coal usage in power generation. This is mainly because of the several reasons: China mainly relies on domestically produced resources Policies that were recently implemented to promote domestic production of natural gas were also geared toward limiting dependence…

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Month: July 2024