mining
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
BHP has made an offer of £31 billion (around €36 billion) to merge with its smaller UK competitor Anglo American. The proposal comes after Anglo American, which had a $37.7 billion (€35.23 billion) market value at Wednesday's close, noted a 94% decrease in profits last year. As part of the takeover offer, BHP said it would offer Anglo's stockholders £25.08 per share. The deal, which would be one of the biggest mining mergers in years, could allow BHP to become the world's largest copper producer. Anglo has significant mines in South Africa and also operates sites in countries like Chile, Austr...
Euronews (English)
By Moh. Tamimi BELITUNG ISLAND, Indonesia — Nasidi paddled gently past a row of the eponymous rasau trees that line the riverbanks here in Tebet Rasau village, where a decade ago people would wade into the Lenggang River to catch silverfish. But life along the river here in the hills of Belitung Island, he said, is not as it once was. “In the past, if it rained upstream, after three days the water would get to our village,” Nasidi told Mongabay Indonesia as he continued along the Lenggang. “Now, as soon as it rains, the water rushes down quickly and causes flooding.” Tebet Rasau is named for t...
Mongabay
By Aimee Gabay A recent report has revealed a spike in deforestation in the buffer zone of one of the world’s best-protected areas, Peru’s Amarakaeri Communal Reserve. Between 2001 and 2023, 19,978 hectares (49,367 acres) of forest were lost in the buffer zone of the reserve, which is home to the ancestral lands of the Indigenous Harakbut, Yine and Matsiguenka peoples. According to the report by the Monitoring of the Andean Amazon Project (MAAP), there are several factors for this trend, including illegal mining, coca cultivation and creation of landing strips, and new road developments. Amara...
Mongabay
By Rafiqul Islam DHAKA — Police in Bangladesh have arrested one person and are looking for nine others suspected of killing a forest officer after he caught them illegally excavating soil in a protected area of the country’s southern Cox’s Bazar district. The incident highlights what experts say is a worrying trend of law enforcement failing to keep up with intensifying pressure from illegal resource extraction. Sajjaduzzaman, 30, a beat officer with the Cox’s Bazar South Forest Division, was responding to reports of illegal soil quarrying in a hilly reserve in the Ukhia area in the early hour...
Mongabay
Washington (AFP) - The United States on Friday blocked oil, gas and mining operations across tracts of unspoiled wilderness in Alaska, winning praise from environmentalists for safeguarding habitat for polar bears, caribou and other Arctic species. More than 13 million acres (5.2 million hectares) will come under new federal protection, while a permit to build a major road to access mineral deposits was denied in moves that angered industry bodies and some locals. "Alaska's majestic and rugged lands and waters are among the most remarkable and healthy landscapes in the world," President Joe Bi...
AFP
By Sean Mowbray Concrete forms the backbone of modern economies and societies: Roads, runways, homes, hospitals, banks, skyscrapers, sewers — just about any infrastructure you can imagine — depend on it. And as the global population grows, with rural people rushing to mega-cities for work, much more will be produced and poured. Consequently, concrete is one of the most widely used materials on Earth, with its outdated linear “take-make-waste” production model making it one of the most environmentally harmful. Manufacturing fresh concrete requires huge sums of extracted material, sucks up colos...
Mongabay
By Fernanda Wenzel 2023 was a game-changer for the Brazilian gold industry. Luiz Inácio Lula da Silva took office as president with the promise to put Brazil’s environmental policy back on track again after four years of Jair Bolsonaro’s pro-illegal mining administration. The repercussions of the humanitarian crisis in the Yanomami Indigenous Territory, with images of severely malnourished Indigenous broadcast all over the world, increased the pressure on authorities to put a halt on the production and trade of illegal gold. The territory, which straddles the states of Roraima and Amazonas, ha...
Mongabay
By Tatenda Chitadu MASVINGO, Zimbabwe — At the end of November last year, Zimbabwean President Emmerson Mnangagwa and Sinomine Resource Group chair Wang Pingwei walked into a lithium processing plant, construction hats firmly on. With a crowd of policymakers, company workers and press looking on, they hailed the mining group’s $300 million investment into processing plants. The facilities will process the ore that the company unearths at its Bikita mine and turn it into a higher-value product for export. “I commend Sinomine Resource Group for taking heed of my government’s call,” Mnangagwa sai...
Mongabay
By Keith Anthony S. Fabro NARRA, Philippines — At the foothills of the Victoria-Anepahan Mountains in the Philippines’ Palawan province, the Indigenous Tagbanua have lived with the rhythms of nature for generations. They rely on the lush landscape for everything they need, from food and water to nontimber products. But their forest and way of life are under threat as mining companies covet the mountains for their nickel and other mineral resources, which are highly sought after for the global transition to renewable energy. In the southern Palawan municipality of Narra, eight mining exploratio...
Mongabay
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