supplychain
Palladium prices have experienced a great deal of volatility in 2024, starting the year at US$1,096 per ounce on the back of a long-term downward trend that began in 2022. Prices declined steeply through the first two months of 2024, reaching a yearly low of US$859.15 on February 9. However, palladium saw momentum in March, trending upward alongside gold, silver and platinum At the start of April, the price of palladium was US$996.28 and it quickly reached a year-to-date high of US$1,098 on April 9. However, the metal once again pulled back, plunging below the US$900 mark at the start of June....
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After reaching a 17 year high in January, uranium prices consolidated in Q2, holding above US$82 per pound. Despite the cooldown, geopolitical tensions, supply concerns and resource nationalism added support to the uranium sector over the 90 day period, preventing the energy fuel from dipping below the US$80 level. Some analysts believe the correction is part of the uranium market's ongoing bull run. “Although the price of uranium has appreciated significantly, we’re still well shy of the record US$135 per pound realized in 2007, or US$200 per pound when adjusted for inflation," Steven Schoffs...
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Astudy published by the US Geological Survey shows that earthquakes can have a "substantial" impact on mining, smelting and refining operations, creating lasting impacts for the global economy and supply chains. Focusing on copper and rhenium, a silver-gray transition metal, the study aims to quantify the risks that earthquakes pose to supply — a variable that has not previously been systematically categorized. Copper production and risksAccording to the study, many of the world's largest copper and rhenium production facilities are located in regions prone to high seismic activity, such as So...
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Two Chinese copper smelters have announced plans to reduce production next year due to diminishing profit margins caused by an ongoing shortage of ore concentrate, Bloomberg reported on Tuesday (July 16). These decisions were revealed during a quarterly meeting of Chinese smelters held in Shanghai last week. Daye Nonferrous Metals, a major smelter based in the country's Hubei province, plans to cut its smelting output by 20 percent in 2025. The company has already implemented smaller reductions, resulting in a decline in its total refined copper production capacity, which now stands at 930,000...
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A copper crunch is coming as demand builds and the hunt for viable deposits comes up short. That’s according to Robert Friedland, a well-known mining industry financier whose current roles include board leadership positions at Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF) and Ivanhoe Electric (TSX:IE,NYSEAMERICAN:IE). "We see a crisis coming in physical markets, and we see a requirement for much, much higher copper prices," he said in a recorded interview played at the Rule Symposium, held from July 7 to 11 in Boca Raton, Florida. Copper demand “essentially infinite”Speaking first about copper demand, F...
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Kazakhstan's announcement of a significant increase in the Mineral Extraction Tax (MET) for uranium sent uranium stocks trending higher on July 10 as concerns of a potential supply disruption grew due to Kazakhstan's position as the world’s largest uranium-producing country. The new tax rate changes will come in two waves. The first, effective January 1, 2025, will impose an initial hike from the current 6 percent to 9 percent. Starting in 2026, they will take on a more complex and differentiated rate structure, structured to vary based on production volumes and the price of natural uranium co...
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China's State Council has reportedly rolled out a new set of regulations aimed at strengthening control over the country's rare earths resources and securing its local supply chain. According to a June 29 Reuters article, the regulations, which are set to take effect on October 1, introduce stringent oversight on the mining, smelting and trading of rare earth elements. These 17 minerals are key for high-tech applications, including electric vehicle magnets and consumer electronics. China's new rules assert that rare earths resources are owned by the state, which will strictly supervise the ind...
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The US Department of Energy (DOE) said it plans to invest up to US$2.7 billion to strengthen the domestic nuclear fuel supply chain as part of President Joe Biden's Investing in America agenda. In a request for proposals issued on June 27, the DOE said it is looking to buy low-enriched uranium (LEU) from domestic sources in order to enhance national energy security and create new jobs in the nuclear industry. The DOE also wants to stimulate the development of uranium enrichment capacity in the US, and believes that this initiative will promote the safe and responsible buildout of facilities de...
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The International Energy Agency (IEA) is forecasting a significant surplus in the global oil market in the coming years, saying the imbalance will be driven by slowing demand growth and a surge in supply. The IEA’s recently published Oil 2024 report outlines a future where the oil sector will be comfortably supplied through 2030, although energy security will remain a crucial concern due to transformative forces within the sector. The report points to a slowdown in global oil demand growth as the green energy transition progresses. Even with robust demand from fast-growing Asian economies and ...
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China and Pakistan have agreed to strengthen their mining and energy cooperation, deepening their economic partnership under the China-Pakistan Economic Corridor (CPEC), part of China's Belt and Road Initiative. Reuters states that the announcement was made during Pakistani Prime Minister Shehbaz Sharif's recent visit to Beijing, where he sought to bolster bilateral ties and economic collaboration between the two nations. A joint statement emphasizes the nations' commitment to enhancing mining cooperation and implementing a comprehensive pact aimed at advancing mine development and industrial ...
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