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☆ Gold prices flat as U.S. inflation data takes centre-stage
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

Gold prices traded flat on Wednesday as investors looked forward to a critical U.S. inflation print that could offer clues on the Federal Reserve's interest rate-cut trajectory. Spot gold held its ground at $2,359.99 per ounce, as of 0704 GMT, trading in a narrow $6 range, after gaining 1% on Tuesday. According to a Reuters poll, the data is expected to show that core inflation in April rose 0.3% month-over-month, down from 0.4% the prior month. Bullion is known as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding gold. However, data on Tuesday showed that U.S. producer prices increased more than expected in April.

Persons: Kyle Rodda, Bullion, Jerome Powell Organizations: Fort, BHP Group Locations: Fort Knox Alaska, Kinross, Tetlin , Alaska, ., U.S, American

☆ Got a spare $324 million? Buy a slice of this strategic Arctic archipelago
▼ + stars: | 2024-05-14 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —The last piece of privately-owned land in the Arctic archipelago Svalbard is up for sale for a cool 300 million euros ($324 million). The Arctic is of increasing geopolitical importance as climate change melts sea ice. The land is governed by the Svalbard Treaty. Knight FrankAn eventual buyer will in fact acquire Aktieselskabet Kulspids, a privately owned Norwegian limited company which owns the land. The purchaser will have to come from one of the 46 nations that have ratified the Svalbard Treaty, which established Norwegian sovereignty over the archipelago.

Persons: Knight Frank, Knight Frank “, Wedel, Kyllingstad, ”, Jonathan Webb, Zeiler Floyd Zadkovich, Webb Organizations: CNN, “ Locations: Svalbard, Norway, Longyearbyen, Norwegian, Oslo, Svalbard Treaty, China

☆ The Tiny Nation at the Vanguard of Mining the Ocean Floor
▼ + stars: | 2024-05-09 | by ( Pete Mckenzie | ) www.nytimes.com time to read: +1 min

Two ships arrived in the Cook Islands in the South Pacific in March of last year. One was a familiar sight: a massive cruise ship, bringing hundreds of tourists to the pristine shores of this nation of 15,000 people. To Mr. Brown, the cruise ship represented his country’s troubling dependence on tourism. He described the other vessel, owned by an international mining company, as a harbinger of incredible wealth. The Cook Islands is at the vanguard of a quest to mine the ocean floor for minerals used in electric car batteries.

Persons: Mark Brown, Brown Organizations: South Pacific Locations: Cook, South

Great Barrier Reef, Australia CNN —As the early-morning sun rises over the Great Barrier Reef, its light pierces the turquoise waters of a shallow lagoon, bringing more than a dozen turtles to life. CNN witnessed bleaching on the Great Barrier Reef in mid-February, on five different reefs spanning the northern and southern parts of the 2,300-kilometer (1,400-mile) ecosystem. “It’s a die-off,” said Professor Ove Hoegh-Guldberg, a climate scientist at the University of Queensland in Australia and chief scientist at The Great Barrier Reef Foundation. Our destination is Lady Elliot Island, a remote coral cay perched on top of the southern end of the Great Barrier Reef. — Lady Elliot Island Eco Resort Guano miners once stripped Lady Elliot Island of its topsoil.

Persons: Elliot Island, ”, Kate Quigley, “ We’re, Ove Hoegh, I’m, Guldberg, ‘, Elliot, Peter Gash, “, ” Gash, Lady Elliot, ” Peter Gash, CNN Gash, Derek Manzello, Peter Harrison, “ We’ve, ” Harrison, ” David Ritter, ” Ritter, David Wachenfeld Organizations: Australia CNN —, Atmospheric Administration, NOAA, CNN, Minderoo, University of Queensland, Eco, Reef Watch, Southern Cross University, Australian Institute of Marine Science, Greenpeace, Australia CNN Scientists, AIMS Locations: Australia, El, Brisbane, Queensland, Red Sea, Indonesia, Seychelles, Caribbean, Florida, “, New South Wales, Greenpeace Australia, Briggs, Elliot Island

☆ Jack Dorsey’s payments company, Block, is building its own bitcoin mining system
▼ + stars: | 2024-04-23 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Jack Dorsey says that his payments company, Block (formerly Square), is expanding its bitcoin mining ambitions from designing chips to developing a full bitcoin mining system. "Building on these insights and pursuant to our goal of supporting mining decentralization, we plan to offer both a standalone mining chip as well as a full mining system of our own design." "Mining isn't accessible to everyone," Dorsey wrote when Block first entered the business of building mining hardware in 2021. "Bitcoin mining should be as easy as plugging a rig into a power source. The company was light on the details in this latest announcement, but Dorsey posted in 2021 that the company was considering a "bitcoin mining system based on custom silicon."

Persons: Jack Dorsey, We've, Dorsey, Block, Thomas Templeton Organizations: Mining Locations: China, Kenya, Malawi, Zambia

☆ I work in the Alaska mining industry. I sometimes get paid in gold, but the job comes with long hours and grueling conditions.
▼ + stars: | 2024-04-22 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

I moved to Alaska from Oregon to find work opportunities in the mining industry about 20 years ago. In Alaska, rotational work cycles can last up to six weeks with no break. During that time, I made just over $1,800 a week working nearly 82 hours a week. AdvertisementMy work opportunities are now limitedI plan to go back to rotational work after a year or two to enjoy life a little more. Then, I want to return to rotational work to have more time to enjoy life.

Persons: Justin Peterson, —, I've, I'm, Justin Peterson I've Organizations: Service, Mining Locations: Alaska, Oregon, There's, Australia, Anchorage, Fairbanks, North, Wasilla , Alaska, Colorado

☆ How a Jack Dorsey-backed bitcoin miner uses a volcano in Kenya to turn on the lights in rural homes
▼ + stars: | 2024-04-20 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +9 min

watch nowHELL'S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell's Gate National Park. "That doesn't happen without the bitcoin miners and us being globally distributed." MacKenzie SigalosWherever the operation, bitcoin mining is a volatile business, because so much of the economics depends on the price of the cryptocurrency. Before getting into bitcoin mining, he and his two co-founders, Philip Walton and Janet Maingi, spent years building internet connectivity infrastructure in rural and urban Africa. Demand from bitcoin miners on these semi-stranded assets is making renewables in Africa economically viable.

Persons: Jack Dorsey's, MacKenzie Sigalos, Erik Hersman, Bitcoin, Gridless, Lake Naivasha, bitcoin, Adam Sullivan, Philip Walton, Janet Maingi, Michael Gottschalk, Nic Carter, Carter, Hersman, It's, it's Organizations: CNBC, Kenyan, Core, Deutsche Bank, Marathon, United Arab, Getty, Island Ventures, Miners, International Energy Agency Locations: Kenya, Nairobi, Lake Naivasha, Malawi, Zambia, Venezuela, Lebanon, Gate, Lake, U.S, Texas, Russia, China, America, Africa, Toronto, Argentina, Florida, United Arab Emirates, Paraguay, Hersman, Sudan, Iceland, El Salvador, Bhutan

☆ Bitcoin halving: Crypto traders await quadrennial event
▼ + stars: | 2024-04-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Put simply, the halving is an automatic 50% reduction in the number of bitcoin entering circulation. “Guessing the endgame for Bitcoin after each halving is the ultimate sport,” said Antoni Trenchev, co-founder of crypto lender Nexo, in a statement. Miners are essentially auditors on the bitcoin blockchain, using powerful supercomputers to validate transactions and getting paid for their work in bitcoin. While long-term sentiments on bitcoin are bullish among the crypto faithful, the psychology around an event like the halving is hard to predict and can create volatility that’s extreme even by crypto standards. “It wouldn’t be surprising to see the price of bitcoin increase significantly over the next two years.”

Persons: CNN Business ’, it’s, ”, Antoni Trenchev, Gareth Rhodes, Molly White, John Sedunov, Jamie Dimon, JPMorgan Chase, Greg Beard, there’s, ” Beard Organizations: CNN Business, New York CNN, United, Miners, Villanova University, JPMorgan, Mining Locations: New York, United States, Asia, bitcoin

☆ La Huasteca Potosina: This hidden Eden in Mexico won’t stay undiscovered forever
▼ + stars: | 2024-04-08 | by ( Tree Meinch | ) edition.cnn.com time to read: +12 min

The remote landscapes of La Huasteca Potosina – part of the larger La Huasteca region spanning multiple states – include vast desert, lush mountains and rainforest nooks with turquoise rivers and waterfalls. Renting a car in the city of San Luis Potosí provides the most flexibility for visitors to chart their own paths through the state’s La Huasteca region. Corazón de Xoconostle and Auténtico San Luis both offer customized excursions from the city. Or maybe a night in the cozy town of Tamasopo on the western edge of La Huasteca Potosina. The city of San Luis Potosi is worth exploring and is a jumping-off point for a trip to La Huasteca to the east.

Persons: San Luis Potosí, Corazón de, Luna, Media Luna –, Don Juan Merendero, Juvencio Martínez Flores, Erich Schlegel, Luna wasn’t, ”, Saul Martínez Ramírez, Martínez, Puente, Puente de Dios, Dios, Mexico’s, parakeets, Miguel Galarraga, Corazon de Xoconostle, Mark Johanson, Estela Martínez, “, Elena Nilova, Salvador Dali, Edward James, James, Dali, –, Tilda Swinton, La Huasteca, Costanza Organizations: CNN, –, Hotel Media Luna, Chicago Tribune, San, Edward James Sculpture, Getty, W Magazine, La Locations: San Luis, Mexican, Madre, La, Mexico, San, Huasteca, Luis, Ciudad Valles, Media, It’s, Rioverde, Media Luna, ”, Dios, Tamasopo, Puente, Plop, las, Xilitla, Estela Martínez Santiago, San Isidro, Aquismón, Chicago, Sótano, Salvador, there’s, Mexico City, San Luis Potosi, Barrios, El, La Paz

☆ I wanted to make quick money and travel the world — so I moved to Australia and became a FIFO worker
▼ + stars: | 2024-03-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

AdvertisementThis as-told-to essay is based on a conversation with Cal Mcilwaine , a 29-year-old FIFO worker in Australia. So in June 2023, I left Ireland and moved to Perth, Australia to become a FIFO worker, which stands for "fly in, fly out." Landing a FIFO job in a new country wasn't easyFIFO is an industry that largely exists only in mining fields in Australia, Canada, and Alaska. Within a month of arriving in Australia, I secured a FIFO job. Once I'm done, I plan to get right back into FIFO work for my second year and do it all over again.

Persons: Cal Mcilwaine, —, I, I've, Cal McIiwaine, I'm Organizations: Cal, Service, Alaska . Mining, Cal McIiwaine Locations: Pilbara, Australia, Ireland, Perth, Canada, Alaska, Port Hedland, China, Cal McIiwaine Australia, Bali, Esperance, Vietnam, Thailand, New Zealand, Indonesia, Philippines

☆ Investor Tribeca presents Glencore with ideas to raise shareholder value – How it may unfold
▼ + stars: | 2024-03-30 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Tribeca has been a shareholder of Glencore for seven years and has been engaging with management for a year. The company has excellent core asset quality in copper, zinc and coal, as well as a world-leading commodity trading business. Notably, Bluebell Capital Partners agitated for a demerger of Glencore's thermal coal business in 2021. However, in 2023, after acquiring a 77% interest in Teck's steelmaking coal business, Glencore stated its intention to demerge its combined coal and carbon steel businesses. The same can be said for the divestment of the trading business.

Persons: Glencore, David Aylward, Gary Nagle, astutely, Berkshire Hathaway, Ivan Glasenberg, Ken Squire Organizations: Glencore, Tribeca Investment Partners, Tribeca, Financial Times, Australian Securities Exchange, London Stock Exchange, BHP, Rio Tinto, Bluebell Capital Partners, LSE, Rio, NYSE, 13D Locations: Switzerland, Australia, Africa, South America, Sydney, Melbourne, Singapore, London, Tribeca, Glencore, Swiss, Rio, Europe, cyclicality, Berkshire

☆ Alaska's ice road oil truckers are in a boom, and causing a backlash
▼ + stars: | 2024-03-15 | by ( Kevin Williams | ) www.cnbc.com time to read: +11 min

With various North Slope oil production projects just ramping up, the years ahead look very promising for trucking in Alaska. Among the new North Slope activities is the ConocoPhillips Willow Project, which the Biden administration approved last year. A Doyon Drilling Inc. oil rig stands on the North Slope in Prudhoe Bay, Alaska, U.S., on Friday, Feb. 17, 2017. Daniel Acker | Bloomberg | Getty ImagesMeanwhile, the Pikka oil project by Australian company Santos is also taking shape on the North Slope, 50 miles west of Deadhorse. Most of the North Slope oil infrastructure (supplies, machinery, parts) is supplied by trucks that have to traverse the 414-mile Dalton Highway (Alaska Route 11).

Persons: Daniel Acker, Jeremy Miller, Carlile, Biden, Willow, Santos, Miller, Matt Jolly, Jolly, Joe Michel, Michel, Dalton, Jomo Stewart, axel, Stewart, Scott Kawasaki, Ashley Carrick, Kawaski, Kawasaki Organizations: Parker, Trans, Trans Alaska Pipeline System, Bloomberg, Getty, Transportation Systems, ConocoPhillips Willow Project, ConocoPhillips, Alaska Department of Natural Resources, Alaska West Express, Alaska Trucking Association, Caelus Energy, Fairbanks Economic Development Corp, Kinross, Food, Getty Images Bloomberg, Getty Images, Fairbanks, Kawasaki, Alaska Department of Transportation, Anchorage Daily News Locations: Prudhoe Bay , Alaska, U.S, Trans Alaska, United States, Alaska, Anchorage, Australian, Deadhorse, Prudhoe Bay, Dalton, Alaska West, North, Wawa, Harrison Bay , Alaska, Fairbanks, Fort Knox Alaska, Kinross, Tetlin , Alaska, Tetlin, Kinross Alaska, Getty Images Alaska

☆ The UAE is a global leader in diamond trading. Now, it wants to grow them, too
▼ + stars: | 2024-03-06 | by ( Ana De Oliva | ) edition.cnn.com time to read: +7 min

The United Arab Emirates (UAE) is a global leader in diamond imports and exports, but it does not have any diamond mines. In 2022, he co-founded Dubai-based 2DOT4 Diamonds, becoming the first to produce, cut, and polish lab-grown diamonds in the UAE. “The mined diamond, you don’t control it, the Earth is doing it.”To grow a diamond, you start with a diamond, either lab-grown or mined, explains Sabeg. Last year, the country underwent a tax reform in the sector and pledged extra funding to further expand its man-made diamond industry. “Sixty years ago, if you tell someone this is a synthetic or a lab-grown diamond, they won’t even look at it,” he adds.

Persons: CNN —, Mohamed Sabeg, ”, ” Mohamed Sabeg, Paul Devitt, It’s, Everest —, CNN “, Paul Zimnisky, Ahmed Bin Sulayem, Bin Sulayem, “, Zimnisky Organizations: CNN, International Gem Society, United Arab Emirates, Dubai Multi Commodities Center, HRA Locations: Russia, South Africa, UAE, Dubai, 2DOT4, US, China, India, CNN India, Emirate

☆ Mongolian deputy minister of mining and heavy industry explains how it's attracting investments
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMongolian deputy minister of mining and heavy industry explains how it's attracting investmentsUyanga Bold, Mongolia's deputy minister of mining and heavy industry, says the ministry is providing "pre-competitive geologic data to potential investors into the exploration sector of the mining industry."

Organizations: Mongolian

GREEN RIVER, Utah (AP) — A plan to extract lithium — the lustrous, white metal used in electric vehicle batteries — in southeast Utah is adding to an anxiety familiar in the arid American West: how the project could affect water from the Colorado River. The company has also acquired rights to freshwater from the Green River nearby, leading to questions about how groundwater and river water are connected, and how its plans to produce lithium could affect the environment. The Green River is a tributary of the Colorado River, the over-tapped powerhouse of the West upon which 40 million people rely. So far, Anson has acquired rights for 2,500 acre-feet of water from the Green River. “There’s a difficulty turning anything down in a community like Green River,” he said.

Persons: ”, Lauren Wood, Anson, “, ” Anson, Bruce Richardson, Michael McKibben, Ren Hatt, Gayna, Salinas Organizations: Anson Resources, University of California, Interior Department, Land Management, . Department, ExxonMobil, Associated Press, Walton Family Foundation, AP Locations: GREEN, , Utah, Utah, Colorado, An Australian, Utah , Colorado , New Mexico, Arizona, Green, Green River , Utah, Anson, U.S, Riverside, Argentina, Qinghai, China, Arkansas, Nevada, Amargosa, Las Vegas, , Nevada, Australia, Chile, Gayna Salinas, “, America

Your average EV has six times more mineral content than a petrol- or diesel-powered vehicle. All those metals need to be dug, scraped, blasted, or leached out of the earth. There is massive demand for batteries as countries eye up ambitious zero-emissions targets. But what's the cost?

☆ Madagascan President's Ex-Aide Offered Influence for Bribes, London Jury Told
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

By Sam TobinLONDON (Reuters) - Madagascan President Andry Rajoelina's ex-chief of staff offered to use her influence to obtain bribes from precious stone miner Gemfields in exchange for help with lucrative mining rights, prosecutors told a London court on Tuesday. Romy Andrianarisoa, 47, is accused of seeking substantial payments from Gemfields between 2021 and 2023 to help the company expand its business into Madagascar. Prosecutor Alex Leach told jurors at Southwark Crown Court that Andrianarisoa was, at the time of the alleged offending, a "trusted adviser" to Rajoelina. At the meeting, Andrianarisoa "made it clear she had direct influence on the president", Leach added. He said Gemfields later approached Britain's National Crime Agency (NCA) after it became clear Andrianarisoa and her associate Philippe Tabuteau were seeking a bribe.

Persons: Sam Tobin LONDON, Andry Rajoelina's, Romy Andrianarisoa, Andrianarisoa, Alex Leach, Leach, Sean Gilbertson, Gemfields, Britain's, Philippe Tabuteau, Tabuteau, Sam Tobin, Bernadette Baum Organizations: Southwark Crown, Crime Agency, NCA, Gemfields Locations: London, Gemfields, Madagascar, Southwark, Tabuteau

☆ Gold could be poised for another record-setting year. This obscure part of the market may see big gains
▼ + stars: | 2024-01-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +7 min

Investors betting on another strong year for gold may want to look at an obscure part of the market: gold streaming and royalty companies. "The profitability of the gold companies wasn't keeping pace with the rise in the gold price." MacRury echoed this sentiment, pointing to historical context as a reason he believes gold prices could hurtle towards new highs. "Past easing cycles over the last 20+ years have corresponded with strong gold prices, and we expect to see gold set new record highs in 2024," he wrote. Shares of Royal Gold popped 7% in 2023, but are down more than 10% in the past 12 months.

Persons: Carey MacRury, Adam Rozencwajg, Canaccord's, Rozencwajg, it's, MacRury, Leigh Goehring, Osisko Organizations: Barrick, CNBC, Royal, Miners, Royal Gold, Barrick Gold, Federal Reserve, Franco, Wheaton Precious Metals Locations: Newmont, Franco, Nevada, Brazil, Russia, China, India, Panama, Wheaton, U.S

SAVANNAH, Ga. (AP) — The company seeking permits to mine minerals near the edge of the Okefenokee Swamp and its vast wildlife refuge has agreed to pay a $20,000 fine to Georgia environmental regulators, who say the company violated state laws while collecting soil samples for its permit application. The plan is required for Twin Pines to qualify for a permit. Twin Pines has insisted it can mine without harming the swamp. An attorney for Twin Pines said Wednesday the company denies any wrongdoing. The Army Corps entered an agreement with Twin Pines to maintain its hands-off position in 2022.

Persons: “, Lewis Jones, Josh Marks, EPD, ” Marks, Donald Trump, Joe Biden Organizations: Georgia Environmental, Twin, Twin Pines Minerals, Twin Pines, Regulators, Refuge, ”, National Park Service, UNESCO, U.S . Fish, Wildlife Service, and Wildlife Service, Army Corps of Engineers, Army Corps Locations: SAVANNAH, Ga, Georgia, Twin Pines, Alabama, Twin, Mississippi, Atlanta, blackwater

☆ Oil prices fall as stronger dollar offsets Red Sea disruptions risks
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell on Wednesday as a stronger U.S. dollar limited demand for greenback-denominated crude, though the rising risks of supply disruptions amid the intensifying conflict in the Red Sea curbed the losses. U.S. West Texas Intermediate crude futures , or WTI, fell 43 cents, or 0.59%, to $71.97 a barrel. The stronger dollar reduces demand for dollar-denominated oil for buyers paying in other currencies. British oil major Shell suspended shipments through the Red Sea after the U.S. and UK strikes began, but U.S. producer Chevron is maintaining its Red Sea routes. "While oil benchmarks may not reflect the Red Sea attacks, the realized price for oil and oil products for consumers has increased given the disruption to trade flows through the Red Sea and Suez Canal," Vivek Dhar, director of mining and energy commodities strategist at the Commonwealth Bank of Australia, said in a note.

Persons: Brent, WTI, Daniel Hynes, Vivek Dhar Organizations: greenback, Global, Brent, . West Texas, U.S, U.S . Federal Reserve, ANZ Bank, Shell, Chevron, Commonwealth Bank of Australia Locations: U.S, Iran, Yemen, Red, Suez

☆ Saudi Arabia nearly doubles estimate for the value of its mineral resources
▼ + stars: | 2024-01-10 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Saudi Arabia nearly doubled the estimate for the value of its mineral resources and is seeing lucrative deals signed during its Future Minerals Forum held in Riyadh this week, ministers told CNBC. Estimates for the kingdom's untapped mineral reserves have jumped from $1.3 trillion in a 2016 forecast to $2.5 trillion, according to Saudi Mineral Resources and Industry Minister Bandar Al Khorayef. The resources include gold, copper, phosphate and rare earth elements, offering new sources of subterranean wealth on top of Saudi Arabia's mammoth oil reserves. "We are very excited about this news ... it's really a result of what we have been doing in the last four years," Al Khorayef told CNBC's Dan Murphy on Wednesday. Saudi Arabia has developed 33 new exploration sites for mining, and aims to award foreign investors more than 30 mining exploration licenses in 2024, it announced at the forum.

Persons: Bandar, it's, Al Khorayef, CNBC's Dan Murphy Organizations: Minerals, CNBC, Saudi Mineral Resources, Industry, Saudi Locations: Saudi Arabia, Riyadh, Bandar Al Khorayef, Africa

☆ Peru's deadly gold mine attack highlights growing security risk, costs
▼ + stars: | 2023-12-04 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

The attack has highlighted a growing risk for miners in the Andean nation, the world's no. "Security is now one of the main costs," Poderosa corporate affairs manager Pablo de la Flor told Reuters after the attack. Thousands of trucks of illegal gold were taken out, it said. "There is a black market for minerals," said Gustavo Ramirez, who studies illegal mining for SNMPE. Illegal miners are estimated to produce around another 30 tons.

Persons: Cristobal Bouroncle, Rights LIMA, Pablo de la Flor, De la Flor, Saturday's, la Flor, Poderosa, Gustavo Ramirez, Marco Aquino, Alexander Villegas, Marguerita Choy Organizations: Rights, Reuters, National Society of Mining, Petroleum, Energy, Peru's Ministry of Energy, Mining, Ministry of Energy, Mines, Thomson Locations: Madre de Dios , Peru, Peru, Pataz, India, Switzerland, Canada, Bolivia

Sibanye-Stillwater announced the layoffs Wednesday at the only platinum and palladium mines in the United States, near Nye, Montana, and other Sibanye-owned facilities in Montana, including a recycling operation. Another 187 contract workers — about 67% of the mining contract workers at the mine — will also be affected. Some contract work has been phased out over the past couple of months, said Heather McDowell, a vice president at Sibanye-Stillwater. Palladium prices have since fallen from a peak of about $3,000 an ounce in March 2022 to about $1,000 per ounce now. South Africa-based Sibanye bought the Stillwater mines in 2017 for $2.2 billion.

Persons: Heather McDowell, McDowell, Sibanye, Jason Small, Noah Dinger, Matthew Brown Organizations: Stillwater, of Labor, Forest Service, Mine, Montana AFL, Department of Labor, Industry, Associated Press Locations: Montana, Sibanye, United States, Nye , Montana, Stillwater, Nye, South Africa, Boulder, Falls , Idaho, Billings , Montana

Cobre Panama has said it is committed to growing more new forest than is impacted by its mine. "We aren't going anywhere," Sabino Ayarza, a representative of the protesting fishermen, told Reuters on Tuesday from his boat. Their grassroots movement, nearly unheard of in business-friendly Panama, has wiped C$11 billion ($7.4 billion) off First Quantum's market value and raised global copper prices on supply worries. The protesters' victory in Panama is emblematic of the outsized and sometimes unexpected influence local communities are having on mining companies worldwide. Cobre Panama accounted for about 46% of First Quantum's overall revenue in the third quarter, according to company data.

Persons: Aris Martinez, Sabino Ayarza, Ayarza, Codelco, Valentine Hilaire, Divya Rajagopal, Fabian Cambero, Christian Plumb, Denny Thomas, Nick Zieminski Organizations: REUTERS, Aris, PANAMA CITY, Minerals, Reuters, Panamanian, Tuesday, Scotiabank, Protesters, First, Thomson Locations: Panama City, Panama, PANAMA, TORONTO, Portugal, Peru, Chile, Macquarie, Mexico City, Toronto, Santiago

☆ As Groundwater Dwindles, Powerful Players Block Change
▼ + stars: | 2023-11-24 | by ( Christopher Flavelle | Mira Rojanasakul | ) www.nytimes.com time to read: +19 min

They serve on the board of Groundwater Management District 3, which since 1996 has overseen the pumping of 16.2 trillion gallons of groundwater — enough to fill Lake Mead, the country’s largest reservoir, twice over. From Maryland to Hawaii groundwater levels are falling, often the result of overpumping and underregulation, made worse by climate change. Groundwater Levels at Goldstrike Mine Observation wells at Goldstrike show a pattern of immense groundwater withdrawals. “And money talks.”Kansas City Groundwater Management District 3 KANSAS Wichita KANSAS Groundwater Management District 3 Kansas City Groundwater Management District 3 KANSAS WichitaGrowing corn in the Kansas drylandsIn Kansas, the power of the men who run Groundwater Management District 3 is enormous. Groups like Groundwater Management District 3 have until 2026 to come up with plans to sustain groundwater.

Persons: Lake Mead, —, Catherine Hospital —, we’re, ”, Lindsay Vaughn, David Robert Elliott, Joe Newland, Nevada Adam Sullivan, Christina Erling, Erling, Adam Sullivan, Emily Najera, Kim Raff, Julie Pazina, ” Barrick, Michael McCarthy, Barrick, ” Mr, McCarthy, Michael H, Taylor, Patrick Donnelly, don’t, Helena Billings, it’s, Galt, Wylie Galt, Bill Galt, Dutton, Wylie, Errol Galt, Galt’s, Matthew Hamon, The New York Times Eugene Graf, Montana homebuilders, The New York Times Montana, Brad Dundas, Dundas, Mr, John Tubbs, Tubbs, The New York Times Errol Galt, Eugene Graf, Graf, Guy Alsentzer, “, Lucas Bessire, Vaughn, Newland, Mark Rude, Kan, The New York Times Mark Rude, Ms, Lall, Ali Zaidi, Biden, Jared Huffman, Huffman Organizations: Groundwater Management, Walmart, State, The New York Times, Kansas Farm Bureau, New York Times, NEVADA Carson City Las, Barrick, Carson City Las, NEVADA Carson City, North, Barrick Gold Corporation, Nevada Gold Mines, Nevada, of Water, University of Nevada, Center for Biological Diversity, Republican, Representatives, The Times, Galt, state’s Department of Natural Resources, The New York, Montana Fish, Montana Building Industry Association, KANSAS, KANSAS Wichita KANSAS Groundwater Management, KANSAS Wichita, Kansas drylands, Management, Kansas City Topeka, Kansas City, Topeka Wichita, Survey, University of Oklahoma, Groundwater, Kansas, Columbia Water Center, Columbia University, Natural Resources Defense Council, Marin Municipal Water District, Fisheries Locations: United States, Garden City, Kan, America, Lake, Kansas, Maryland, Hawaii, Barrick, NEVADA Carson, Carson, Nevada, Canada, Goldstrike, North America, Barrick’s, ” MONTANA, Helena, Bozeman MONTANA, Helena Billings Bozeman, Montana, Galt, ”, Broadwater County, Elk, Confederate, Sulphur Springs, Mont, Upper Missouri, Townsend, ” Kansas, Groundwater Management District, KANSAS Wichita KANSAS, KANSAS Wichita KANSAS Groundwater Management District, KANSAS, Kansas drylands In Kansas, District, Wichita, Kansas City Topeka, Management District, Topeka, Kansas City, Arkansas, Washington, California, Marin

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