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☆ Going for gold — Three 'Big Short' traders say the precious metal is a major long
▼ + stars: | 2024-07-27 | by ( Ellie Stevens | ) www.cnbc.com time to read: +2 min

"The Big Short" traders Danny Moses, Vincent Daniel and Porter Collins are focused on one of their top long bets: gold. "I just don't think Americans have enough gold in their portfolio," Collins said on CNBC's " Fast Money " in an exclusive interview this week . We are still very long gold , gold miners , Silver , Platinum Group Metals (PGMs) and Bitcoin ," they wrote. In a special email to "Fast Money" on Monday, Moses wrote he has a "large long" in the Sprott Physical Gold Trust . As of Friday's close, the Sprott Physical Gold trust is up more than 16% so far this year.

Persons: Danny Moses, Vincent Daniel, Porter Collins, Collins, Daniel, Moses Organizations: Seawolf, Group Metals, Moses Ventures, Trust Locations: U.S

☆ AstroForge: How this startup plans to make asteroid mining a reality.
▼ + stars: | 2024-04-23 | by ( Amy Gunia | ) edition.cnn.com time to read: +11 min

Now the California-based startup is attempting to make asteroid mining a reality. That makes AstroForge the only company with a refinery that can turn M-type asteroids into PGMs in space, he adds. Some in the scientific community are skeptical that the private sector will be able to afford asteroid mining. Its all-or-nothing, lower-cost approach may help push asteroid mining closer to reality. “I hope if nothing else,” Gialich says, “we’re known as a space company that went for it.”

Persons: Matt Gialich, Gialich, Jose Acain, “, ”, we’re, “ We’re, AstroForge, Edward Carreon, “ that’s, –, Dan Britt, REx, James Cameron, Larry Page, Britt, “ I’m, ” Gialich, NASA's, Aubrey Gemignani, ” Britt, AstroForge’s Organizations: CNN, Virgin, SpaceX, NASA, Companies, Apple, Center, University of Central, JAXA, United, United Arab Emirates ’ Space Agency, UAE Space Agency, AP NASA, Planetary Resources, Titanic, Google, NASA's Kennedy Space Center, Getty Locations: California, University of Central Florida, China, United Arab, United Arab Emirates, Utah, Los Angeles, Florida

☆ Low Platinum Prices Show How Banking on Miners Could Threaten the Energy Transition
▼ + stars: | 2023-11-15 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

Platinum is used to make the electrolyzers that produce hydrogen and the sharp down cycle in South Africa’s platinum mining sector demonstrates the risk that low prices and lack of investment could slow the energy transition. Prices for other commodities have also fallen, while miners have been complaining of rising costs and seem to be limiting their capital expenditures. Photo: michele spatari/Agence France-Presse/Getty ImagesFor the mining sector, cyclical returns are nothing new. Ray said many South African PGM miners are now selling their output at close to the cost of production, eating away at profitability. “To the extent that PGM prices stay at current levels, I would not be surprised to see more supply-side reaction,” Ray said.

Persons: Waldo Swiegers, ”, Tom Price, michele spatari, We’ve, ” Emma Townshend, ” Townshend, Raj Ray, Ray, ” Ray, ” Implats’s Townshend, Implats, Yusuf Khan Organizations: Bloomberg, Liberum, Agence France, PGM, Times, Business, BMO Capital Markets, Metals Locations: Sibanye, Africa, Johannesburg, Stillwater, South, South Africa, Marikana, U.S, China, Europe, Implats

☆ Hydrogen Demand Is Set to Boom, but Growth Faces Big Hurdles
▼ + stars: | 2023-10-18 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

A new report from consulting firm McKinsey forecasts a fivefold rise in hydrogen demand to 600 million metric tons a year by 2050, if climate change is limited to 1.5 degree Celsius. Using green hydrogen as fuel for steelmaking can cut emissions by up to 95%, according to H2 Green Steel, a Swedish low-carbon steel startup. Higher interest rates have made securing funding for big infrastructure projects more expensive, with fewer willing to put up the cash, according to Franc. Last week, $7 billion of subsidies dedicated to hydrogen projects in the U.S. were announced by the Energy Department. Faster permitting times are needed to bring more hydrogen projects online, as well as the renewable energy to power their electrolyzers, industry experts say.

Persons: BRIDGET BENNETT, ”, Pierre, Etienne Franc, ” Franc, Jason Cheng, Regulators haven’t, Margery Ryan, Johnson, Todd Anderson, Bram Smeets, Ole Rolser, you’ve, Ryan, “, Yusuf Khan Organizations: REUTERS, McKinsey, Business, Green, ”, Platinum Investment, Energy Department, Regulators, The Wall, International Energy Agency, U.S, Dakotas Locations: Las, Swedish, Franc, U.S, Woodbine , Ga, Midwest, Texas, West, Gulf Coasts

☆ Russia is massively expanding its arsenal of drones, and Moscow's unmanned attacks on Ukraine are likely to only get bigger
▼ + stars: | 2023-09-02 | by ( Jake Epstein | ) www.businessinsider.com time to read: +10 min

Experts say Moscow could use its expanded arsenal for bigger drone attacks against Ukraine in the coming months. The Russian drones seen in Ukraine have come in all sorts of shapes and sizes, and with varying missions. We can see greater pressure on Ukrainian air defenses and electronic warfare defenses." Larger drone attacks could also be explained by a shift in how Russia carries out its high-volume strikes. And that could, in turn, up the pressure on Ukraine's air defenses.

Persons: Shaheds, George Barros, —, Vladimir Putin's, Volodymyr Zelenskyy, Samuel Bendett, Oleksii, Bendett, Barros, It's, ISW Organizations: Service, Ukraine, Institute for, National Police, REUTERS, Research, Russian Federation, Center for Naval, Ukrainian, Kyiv, Getty, Ukraine's Ministry of Defense Drones, Russia Locations: Russia, Ukraine, Moscow, Wall, Silicon, Ukrainian, Washington, Iran, Russian, Kyiv region, Kyiv, Iranian, Zaporizhzhia

SP Angel analyst John Meyer said that with global EV sales expected to reach around 15 million vehicles this year, sales of palladium, chiefly used to neutralise harmful car emissions, could be impaired by 1.5 million-2.25 million ounces. While there are still few battery-powered vehicles in the heavy-duty market, exhaust-free electric vehicles are eating into the palladium-focused light vehicle market, Johnson Matthey said. Palladium prices could fall to the $1,250 level, Edward Moya, senior market analyst at OANDA, said. "The reason why people are more pessimistic about palladium than platinum is due to adoption of EVs," he said. "There's a lack of interest in the palladium market.

Persons: John Meyer, Johnson, Wilma Swarts, PGMs, Johnson Matthey, Edward Moya, palladium's bearishness, Tai Wong, Bart Melek, Ashitha, Seher Dareen, Arundhati Sarkar, Brijesh Patel, Arpan Varghese, Jan Harvey Organizations: Palladium, SP, Metals, TD Securities, Thomson Locations: Ukraine, New York, China, Bengaluru

☆ Amplats shares fall after power outages dim outlook
▼ + stars: | 2023-02-20 | by ( Nelson Banya | ) www.reuters.com time to read: +3 min

Amplats' shares were down 3.1% by 1130 GMT, having hit their lowest since early October 2020 earlier in the session. Amplats Chief Executive Officer Natascha Viljoen on Monday said South Africa's electricity crisis and the impact of Russia's invasion of Ukraine would lead to a decline in global PGM supply. Rising interest rates and a strong dollar typically result in lower prices for PGM, especially platinum, Amplats said. South Africa, the world's top PGM producer, is experiencing extended electricity cuts as coal-fired generating plants suffer frequent breakdowns, meaning Amplats's refined PGM output could fall by 5% in 2023, Viljoen said. Amplats declared a total dividend of 115 rand per share, down from 300 rand per share last year, returning $1.66 billion to shareholders.

☆ UK's Johnson Matthey joins hands with Plug Power for hydrogen tech partnership
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: 1 min

Jan 30 (Reuters) - British chemicals firm Johnson Matthey (JMAT.L) said it had entered into a long-term supply and joint development agreement with Plug Power for hydrogen technology-related products. Johnson Matthey, which makes catalytic converters for vehicles and refines platinum group of metals (PGMs) used chiefly by automakers, said on Tuesday that the group would supply a substantial portion of U.S.-based Plug's demand for components of fuel cells and electrolysers. Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Supreme dollar rules the roost in gold market
▼ + stars: | 2022-12-30 | by ( Bharat Gautam | Swati Verma | ) www.reuters.com time to read: +2 min

REUTERS/Alexander ManzyukThe Fed’s fight against inflation is expected to dictate sentiment in precious metals markets next year. Russia’s invasion of Ukraine, surging inflation, COVID-19 restrictions and slowing growth meant precious metals had a mixed 2022. Spot gold at $1,821.50 an ounce at 19:28 GMT is on course to wrap up 2022 about 0.4% lower. Among other precious metals, silver at $23.87 an ounce is set to end the year over 2% up. Nornickel should also complete its smelter maintenance, allowing it to increase output,” according to Heraeus Precious Metals.

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