mining
Demand for copper in a diverse set of industries has been on the rise this year as the global economy continues to thrive. In fact, price of the industrial metal hit an all-time high on Tuesday. Here are the top three stocks that could benefit the most from record copper price. BHP Group Ltd (NYSE: BHP)BHP is fine pick to play continued demand and subsequently elevated price of copper as it operates one mine in Australia and several more in South America. The New York listed firm is worth owning also because it has a 45% stake in Resolution Copper – one of the largest undeveloped copper projec...
Invezz
By Irfan Maulana JAKARTA — Critics have slammed Indonesia’s outgoing government over a plan to hand out mining permits revoked from companies to religious organizations — not on the basis of the latter’s mining competence, but simply because they played an important role in the country’s independence struggle nearly 80 years ago. The push is being led by the investment minister, Bahlil Lahadalia, who faces allegations of self-dealing and corruption in the revocation and reissuance of mining permits, according to reporting by investigative news outlet Tempo. The proposed handouts are more of th...
Mongabay
By Ruth Kamnitzer For years, Indigenous communities living near Canada’s oil sands have worried about the health impacts of the cloud of air pollution rising from the vast industrial mining complex. A recent study shows the problem is far worse than previously thought, with air pollution levels from oil sands operations up to 64 times higher than that reported by industry. Canada’s oil sands are the fourth-largest oil deposit on Earth and among the most energy-intensive to access and process. Buried beneath the boreal forest of northern Alberta, bitumen is a thick, heavy tar-like form of petro...
Mongabay
By Beiyi SEOW Lincolnton (États-Unis) (AFP) - Lorsque Kristal Lee et son mari ont acheté leur maison en Caroline du Nord il y a deux ans, ils pensaient s'y installer "pour toujours". Mais un projet de mine de lithium à proximité leur fait passer des nuits blanches. "Nous n'avons pas vraiment l'option de déménager en ce moment, en particulier à cause de la situation économique et de l'inflation", confie Kristal Lee, 41 ans, à l'AFP. "Nous nous inquiétons beaucoup depuis que nous en avons entendu parler", ajoute-t-elle, au sujet du projet à 1,2 milliard de dollars de Piedmont Lithium d'extraire ...
AFP (Français)
Lincolnton (United States) (AFP) - When Kristal Lee and her husband bought a house in Gaston County, North Carolina two years ago, they envisioned a "forever home". But a planned lithium mine is bringing Lee sleepless nights. Nearby is an area earmarked for a $1.2 billion project to produce battery grade lithium for US electric vehicle (EV) supply chains -- one of only a few such sites in the country. "You get very anxious when you hear about it," she said of the project by Piedmont Lithium. "We don't really have an option of moving right now, especially with the economy and inflation." With P...
AFP
Two miners were killed and one remains missing after a cave-in at the Myslowice-Wesola coal mine in southern Poland early on Tuesday. Authorities say 12 people were also injured. The cave-in happened around 3:30 am local time, some 870 metres underground in an area where 15 miners were working, authorities said. Two of the miners located by rescuers and brought to the surface were declared dead, while one was being taken to the hospital. Eleven other miners were rescued earlier from the mine with various injuries, and nine of them remain hospitalized. Rescuers were still searching for one miss...
Euronews (English)
Shares of Vedanta reached a 14-year peak of Rs 438.30, climbing 6% on the Bombay Stock Exchange during Tuesday’s intra-day trade, buoyed by heavy trading volumes. This significant uptick follows the company’s announcement that its board will convene on Thursday, May 16, to discuss a fundraising plan. Alongside these deliberations, the board is set to review the potential distribution of a first interim dividend on equity shares for the financial year 2024-25. Vedanta is currently trading at its highest level since May 2010, with the stock having appreciated by 75% over the past two months. Ved...
Invezz
Rio Tinto Ltd (ASX: RIO) should not compete with BHP Group Ltd (ASX: BHP) to take over Anglo American plc (LON: AAL), says Daniel Sullivan. He’s a portfolio manager at Janus Henderson Investors. Why shouldn’t $RIO target Anglo American?$AAL has already rejected BHP’s $39 billion takeover proposal citing undervaluation as Invezz reported here. On Friday, the Australian Financial Review said Rio Tinto had considered making an offer to the mining company based out of London, United Kingdom as well. But $RIO lacks capacity to go up against the world’s largest mining firm by market cap in a bid to ...
Invezz
Copper, lithium, cobalt and Rare Earth Elements (REEs) are among the 34 metals and minerals classified as critical by the European Union. The EU's aim for carbon neutrality by 2050, along with modern weaponry and the increasing digitalisation of daily life, hinges on technologies that require more metals than ever before, making these materials prized commodities. But while the EU already consumes approximately a quarter of the world’s raw materials, it produces only about 3% of them. Critical Raw MaterialsIn December 2023, the European Parliament adopted the Critical Raw Materials Act, which ...
Euronews (English)
Riot Platforms Inc (NASDAQ: RIOT) is in the green at writing after reporting a surprise profit for its first financial quarter. Riot comes in shy of revenue estimates in Q1Revenue printed at $79.3 million in Q1 – versus $95.5 million that experts had forecast, as per the press release the bitcoin miner posted on Wednesday. On the plus side, however, analysts had called for a 21 cents loss on a per-share basis while Riot Platforms came in at a record 82 cents per share of earnings. According to Jason Les – its chief executive: [Riot] achieved a number of significant milestones [in Q1] which fur...
Invezz
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