From healthcare to cleantech and finance, the potential applications of artificial intelligence (AI) are vast. Experts discussed the impact of AI at the Collision Conference, which was held in Toronto, Canada, from June 18 to 20 Here the Investing News Network explores the insights shared by experts, shedding light on how AI is poised to transform diverse sectors and drive innovation. 1. AI agents: Revolutionizing industry dynamicsHarry McCracken, technology editor at Fast Company, sat down with Kanjun Qiu, co-founder and CEO of Imbue, to discuss how AI agents can democratize and decentralize ...
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Nornickel and Chinalco (SHA:601600) subsidiary China Copper are considering a joint venture, sources familiar with the matter told Reuters. The move would let Nornickel relocate its copper smelting operation to China amidst London Metal Exchange (LME) restrictions on Russian metals that began in April. The company currently stores a significant amount of its metal on the LME. Nornickel had previously announced plans in April to close its Arctic copper facility and establish a new plant in China with an unnamed partner. China Copper was the only party interested in a joint venture with Nornicke...
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China has emerged as the leading market for generative AI usage, according to a recent global study conducted by SAS and Coleman Parkes Research. Generative AI is a subfield of artificial intelligence focused on the creation of entirely new content. These AI models can process a wide variety of inputs, including text, images, audio, animation, 3D models, and other data formats, to generate corresponding novel outputs. The SAS and Coleman Parkes study surveyed 1,600 decision-makers and organizations from various sectors, including banking, insurance, public sector, life sciences, healthcare, te...
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Demand for lithium is expected to grow in the next 10 years as electric vehicle proliferation continues and the energy storage sector expands. While experts are optimistic about the market’s medium- and long-term fundamentals, the current market oversupply and weak EV sales have weighed on prices over the last year. Although prices have remained subdued through 2023 into 2024, investor interest in the battery metal market has grown, which was evident at Fastmarkets’ 2024 Lithium Supply and Battery Raw Materials conference. The four-day event saw record attendance, with more than 1,100 attendan...
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The electric vehicle (EV) market has boosted demand for commodities such as lithium and cobalt in recent years, making EV sales a good metric for evaluating the battery metals landscape. However, slowing growth in EV adoption in 2023 led to lower predictions for EV sales this year and lower prices for battery metals. Now that we’re half way through 2024, some interesting trends have emerged that may lead market participants to rethink their EV sales forecasts. With those factors at play, what are the key electric vehicle trends to watch? Here the Investing News Network (INN) takes a look at wh...
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The People’s Bank of China (PBOC) revealed on Sunday that it did not purchase gold in June after doing the same in May. Since setting a record high of US$2,450 per ounce in May, gold prices have been volatile. Gold started July at about US$2,330 before rallying 3 percent last week to US$2,390, marking the most significant weekly gain in three months. However, it fell back down following the news of the PBOC's decision to hold off on bullion purchases. Prior to its lack of purchases in May, the PBOC had purchased gold each month since January 2023. As of June, the PBOC's gold holdings total 72....
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The Canadian government has greenlit Swiss mining giant Glencore's (LSE:GLEN,OTC Pink:GLCNF) US$6.93 billion acquisition of Teck Resources' (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) steelmaking coal unit, but with stringent conditions to ensure job preservation and national benefits. Glencore will take over Teck's Elk Valley Resources, but must adhere to several conditions, outlined by Industry Minister Francois-Philippe Champagne. "Today I approved under strict conditions a much narrower transaction whereby Glencore will acquire Teck Resources' metallurgical coal business," Champagne stated. The comp...
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Canadian police suspect that a significant portion of the 400 kilograms of gold stolen from Toronto's Pearson International Airport in April 2023 may have been smuggled to India and Dubai, according to Peel Region police. "We believe a large portion has gone overseas to markets that are flush with gold," said lead investigator Detective Sergeant Mike Mavity in a June 21 Peel Police Service Board meeting. "That would be Dubai, or India, where you can take gold with serial numbers on it and they will still honor it and melt it down ... And we believe that happened very shortly after the incident...
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Ramelius Resources (ASX:RMS) announced that it has achieved record gold production of 293,033 ounces for its fiscal year 2024, which ended June 30. The company operates mines in Western Australia The achievement was well above its original guidance of 250,000 to 275,000 ounces set in July 2023, and came at the top end of its upgraded guidance, which ranged from 285,000 to 295,000 ounces. Ramelius' quarterly gold production totalled 82,058 ounces. During the quarter, the company also generated an underlying free cash flow of AU$137.3 million, made a strategic investment of AU$87.7 million in Sp...
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GoviEx Uranium (TSXV:GXU,OTCQB:GVXXF) said on Thursday (July 4) that the Niger government has revoked its rights to the perimeter of the Madaouela mining permit, placing it in the public domain. Niger's political landscape has been unstable since a coup d’état last July. General Abdourahamane Tiani's military junta took control of the country at that time, ousting President Mohamed Bazoum. While GoviEx initially expressed optimism that it would be able to operate as normal at Madaouela, in April the government said it could lose its mining permit if it didn't commence mining operations by July...
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