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☆ European stocks cautiously higher at open ahead of euro zone and U.S. inflation data
▼ + stars: | 2023-03-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Mining stocks were up 0.8%, while retail extended Thursday's rally, up 0.6%. European stock markets nudged higher at Friday's open, ahead of the U.S. inflation print coming in the afternoon. Friday will also see a flash estimate of euro zone and French inflation. Preliminary figures from Germany put inflation at 7.8%, lower than the previous month but above of a consensus estimate of 7.5%. European Central Bank policymakers have this week suggested more interest rate hikes are necessary, but may come at a slower pace.

☆ US consumer sentiment deteriorates in March, inflation expectations retreat
▼ + stars: | 2023-03-17 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

SummarySummary Companies Consumer sentiment slips in MarchInflation expectations easeManufacturing production edges up 0.1% in FebruaryWASHINGTON, March 17 (Reuters) - U.S. consumer sentiment fell for the first time in four months in March, but households expected inflation to subside over the next year and beyond, which could offer some relief to the Federal Reserve as it confronts financial market instability. The University of Michigan's preliminary March reading on the overall index of consumer sentiment came in at 63.4, down from 67 in the prior month. While the correlation between consumer sentiment and spending is weak, economists expect tighter financial conditions will undercut consumption and push the economy into recession. A separate report from the Conference Board showed its Leading Economic Index, a gauge of future economic activity, dropped for an 11th straight month in February. Durable manufacturing production nudged up 0.1%, while nondurable manufacturing output climbed 0.2%.

☆ U.S. consumer sentiment ebbs in March; inflation expectations ease
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +6 min

SummarySummary Companies Consumer sentiment slips in MarchInflation expectations easeManufacturing production edges up 0.1% in FebruaryWASHINGTON, March 17 (Reuters) - U.S. consumer sentiment fell for the first time in four months in March, but households expected inflation to subside over the next year and beyond, which could offer some relief to the Federal Reserve as it confronts financial market instability. The University of Michigan's preliminary March reading on the overall index of consumer sentiment came in at 63.4, down from 67 in the prior month. Durable manufacturing production nudged up 0.1%, while nondurable manufacturing output climbed 0.2%. Mining output fell 0.6%, with oil and gas well drilling dropping 3.1%. Industrial productionCapacity utilization for the manufacturing sector, a measure of how fully firms are using their resources, dipped 0.1 percentage point to 77.6% in February.

☆ US manufacturing output ekes out gains in February
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +3 min

Manufacturing output gained 0.1% last month, the Federal Reserve said on Friday. Durable manufacturing production nudged up 0.1%, while nondurable manufacturing output climbed 0.2%. The small gain in manufacturing, together with the rise in utilities, offset the drop in mining, leaving overall industrial production unchanged last month. Industrial output rose 0.3% in January. Capacity utilization for the manufacturing sector, a measure of how fully firms are using their resources, dipped 0.1 percentage point to 77.6% in February.

☆ Wagner’s convicts tell of horrors of Ukraine war
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +11 min

They are identified as pardoned former convicts, returned from the front in Ukraine after joining Wagner from prison. Four of the men said they were personally recruited by Yevgeny Prigozhin as he toured Russia’s prison system to bolster his private army. I wish all real men would join Wagner.”The war in Ukraine is straining Russia’s military capacity. One of the convict recruits told Reuters he travelled to a Wagner training camp in the Russian-controlled part of eastern Ukraine’s Luhansk region. According to the United States, by mid-February Wagner had suffered more than 30,000 casualties in Ukraine, including 9,000 dead, almost all of them convicts.

☆ European markets close mixed; mining stocks fall 2.6% after China announces growth target
▼ + stars: | 2023-03-06 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European stock markets closed flat Monday, after paring modest early-session gains. Markets had a positive opening following last week's boost before slipping into the red. The pan-European Stoxx 600 provisionally closed down 0.03%. Mining stocks dropped 2.6% to lead losses, with Anglo American and Rio Tinto among the worst performers. Citi analysts said China's announcement of a growth target of 5% this year after it fell short of its "around 5.5%" target in 2022, could "feel disappointing to some investors."

☆ European markets open lower after key inflation data
▼ + stars: | 2023-02-15 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

The blue-chip index was down 0.3% around market open, with most sectors and major bourses opening in the negative. U.K. CPI data showed inflation fell for the third month in a row January to hit 10.1%, according to the Office for National Statistics, below Reuters economists' expectations of 10.3%. U.S. inflation inflation grew slightly more than expected Tuesday, and by late afternoon the European index had rebounded to trade 0.6% higher before paring gains to just 0.1%. Internationally, markets responded to the hotter-than-expected U.S. CPI data. Asia-Pacific markets traded lower Wednesday on the news, while U.S. stock futures slipped on Tuesday night.

"Hands off the Democratic Republic of the Congo. Stop choking Africa: it is not a mine to be stripped or a terrain to be plundered," Francis said. [1/9] Pope Francis sits next to Democratic Republic of Congo's President Felix Tshisekedi as he attends the welcoming ceremony at the Palais de la Nation on the first day of his apostolic journey, in Kinshasa, Democratic Republic of Congo, January 31, 2023. The pope criticised rich countries for ignoring the tragedies unfolding in Congo and elsewhere in Africa. On Wednesday, Francis will celebrate Mass at a Kinshasa airport that is expected to draw more than a million people.

☆ Why are Brazil's Indigenous Yanomani being decimated by diseases, mining?
▼ + stars: | 2023-01-27 | by ( Associated Press | ) www.nbcnews.com time to read: +2 min

BOA VISTA, Brazil — Severe malnutrition and disease, particularly malaria, are decimating the Yanomami population in Brazil’s Amazon rainforest, and on Jan. 20 the federal government declared a public health emergency. An estimated 30,000 Yanomami people live in Brazil’s largest indigenous territory, which covers an area roughly the size of Portugal and stretches across Roraima and Amazonas states in the northwest corner of Brazil’s Amazon. Illegal gold miners were first present in Yanomami territory during the 1980s, but then were largely expelled. Their numbers surged to 20,000 during Bolsonaro’s administration, according to estimates from environmental and Indigenous rights groups. Miners destroy the habitat of animals that the Yanomami hunt, and occupy fertile land that the Yanomami use to farm.

☆ New Year, new rally: Why bitcoin is up 26% this month after a tumultuous 2022
▼ + stars: | 2023-01-16 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

"The most important macro data investors are focussing on is the weak services PMI and the trending down of employment and wage data. 'Whales' buying BTCLarger purchasers of digital coins known as "whales" may be leading the latest rally in bitcoin, according to Kaiko. Several bitcoin miners have been flushed out by the drop in prices. Bitcoin miners, who use power-intensive machines to verify transactions and mint new tokens, have been squeezed by the slump in prices and rising energy costs. That's historically a good sign for bitcoin, according to Ayyar.

☆ Rising commodities prices could be a tailwind for Caterpillar and these industrial names
▼ + stars: | 2023-01-13 | by ( Seema Mody | ) www.cnbc.com time to read: +2 min

The outlook for the global mining industry is strong going into 2023, aided by higher commodity prices, Denise Johnson, group president at Caterpillar , told CNBC. Palladium, copper and gold prices are hitting new highs this week as investors eye China's reopening and anticipate a recovery in demand for these commodities. U.S. industrial names that could get a lift from miners' increased capex spend include Caterpillar and Kennametal , according to Jefferies. International names that may also benefit include Komatsu, Hitachi Construction Machinery, Weir Group, Epiroc and Sandvik, the firm noted. Bank of America analysts upgraded Caterpillar to a buy rating on Friday, citing China's reopening and increased infrastructure spending.

☆ Robbers pull off multimillion-dollar copper heist in Chilean port
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +2 min

SANTIAGO, Jan 11 (Reuters) - Chilean authorities said on Wednesday they were investigating a violent heist in Chile's main seaport where thieves stole several shipping containers filled with copper belonging to state-owned giant Codelco. In a statement to Reuters, Codelco said the copper was scheduled to be exported and was insured. The heist is the largest copper theft since a spate of gangster heists in northern Chile last October forced the government to tighten security on trains carrying copper cathodes. The violent robbery adds pressure over shipment security in the world's largest copper producer. Authorities blamed the train heists on international crime groups while police said Wednesday's heist could be a local group.

☆ East-West battleground will shift from fossil fuels to metals
▼ + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Russia’s invasion of Ukraine highlighted the risk of relying on autocratic states for energy. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper.

☆ East-West battleground will shift to metals
▼ + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper. That’s why Western nations’ best option is ultimately to recycle metals from used appliances.

It could also negatively impact African nations that produce battery materials. The United States has a Free Trade Agreement in place with only one African country, Morocco. Battery materials and trade are set to be a focus at next week's U.S.-Africa Leaders' Summit in Washington where President Joe Biden will meet presidents of African countries including Congo. Under IRA, U.S. carmakers will get tax credits if they source at least 40% of battery materials domestically or from American free-trade partners. His is one of many projects across sub-Saharan Africa aiming to produce battery materials like lithium, nickel and graphite.

☆ Jack Dorsey’s Block backs bitcoin mining company that wants to bring 25-cent electricity to rural Africa
▼ + stars: | 2022-12-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

So in February, she began spitballing creative solutions with two friends, and the three of them landed on a sort-of counterintuitive idea: bitcoin mining. The new 533 kilowatt site in Kenya where 300 kilowatts will be used for bitcoin mining. We're not doing bitcoin for bitcoin," said the lead for bitcoin mining and wallet at Block, Thomas Templeton. Block is also working on a project to make bitcoin mining more distributed and efficient. Making the mining process more accessible has to do with more than just creating new bitcoin, according to Templeton.

Small-scale copper miners are now challenging Big Copper for territorial control of rich deposits of the red metal. In Peru, artisanal mining permits have doubled to 80,000 since 2020, government records show. Peru's leftist administration presented a new framework for artisanal mining last week that declared artisanal mining is "as important" as big mining. "Where we have concessions we can't have (artisanal mining permits)," Rojas said. The number of valid artisanal mining permits in Tapairihua has fallen from 100 to 32 since May, according to government records.

☆ India's economy likely slowed to annual 6.2% in July-Sept: Reuters poll
▼ + stars: | 2022-11-28 | by ( Indradip Ghosh | ) www.reuters.com time to read: +2 min

Summary Data due at 1200 GMT on Wednesday, Nov. 30BENGALURU, Nov 28 (Reuters) - The Indian economy likely returned to a more normal 6.2% annual growth rate in July-September after double-digit expansion in the previous quarter, but weaker exports and investment will curb future activity, a Reuters poll showed. In April-June, Asia's third-largest economy showed explosive growth of 13.5% from a year earlier thanks mainly to the corresponding period in 2021 having been depressed by pandemic-control restrictions. The 6.2% annual growth forecast for latest quarter in a Nov. 22-28 Reuters poll of 43 economists was a tad lower than the RBI's 6.3% view. Meanwhile, the RBI raised its key policy interest rate to 5.9% from 4.0% in May and is widely expected to add another 60 basis points by the end of March. "Between December and February, the headwinds to growth may become more evident," said Deutsche Bank's Das.

☆ New York Gov. Kathy Hochul Signs Bill Limiting Cryptocurrency Mining
▼ + stars: | 2022-11-23 | by ( Jimmy Vielkind | ) www.wsj.com time to read: 1 min

Kathy Hochul said mining facilities could still be co-located near renewable generation such as hydropower. ALBANY, N.Y.—New York has become the first state to restrict cryptocurrency mining after Gov. Kathy Hochul on Tuesday signed a two-year moratorium, calling the move necessary to help protect the environment. The new law, which took effect immediately, will prevent the reactivation of fossil-fuel power plants for off-the-grid cryptocurrency mining. Mining that taps into the electrical grid will still be legal.

☆ Colombia economy grew 7% in Q3, beating expectations
▼ + stars: | 2022-11-15 | by ( Carlos Vargas | ) www.reuters.com time to read: +2 min

In a Reuters poll last week analysts said they expected growth in Latin America's fourth-largest economy to slow amid moderating domestic consumption, rampant inflation and rising interest rates. read moreThe economy grew 1.6% in the third quarter versus the second quarter, DANE said. The finance sector registered 9.2% growth in the third quarter compared to the same period a year earlier, while retail expanded by 8.1%. In September the economy grew by 4.2%. read moreThe technical team of the country's central bank forecasts GDP growth for this year at 7.9% and 0.5% for 2023.

☆ U.S. developing domestic uranium strategy -energy secretary
▼ + stars: | 2022-10-26 | by ( Timothy Gardner | ) www.reuters.com time to read: +2 min

The United States relies on Russia and its allies Kazakhstan and Uzbekistan for roughly half of the uranium powering its nuclear power plants. "The United States wants to be able to source its own fuel from ourselves and that's why we are developing a uranium strategy," Granholm told reporters at an International Atomic Energy Agency conference in Washington. In September, the White House asked Congress for another $1.5 billion in a temporary government funding bill to boost domestic supply of low enriched uranium and HALEU. The Department of Energy has supplies of heavily enriched uranium, from which it can downblend fuel for reactors. Some nuclear power proponents also want to boost U.S. mining and processing of uranium, practices many environmentalists want to limit.

☆ U.S. mining sanctions take aim at Nicaragua's Ortega
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

U.S. President Joe Biden delivers remarks about student debt relief at Delaware State University in Dover, Delaware, U.S., October 21, 2022. REUTERS/Leah MillisOct 24 (Reuters) - U.S. President Joe Biden's administration ratcheted up economic pressure on Nicaraguan President Daniel Ortega's government on Monday through a series of steps targeting the country's mining, gold and other sectors. Biden signed an executive order that includes the authority to ban U.S. companies from doing business in Nicaragua's gold industry, while U.S. Treasury Department imposed sanctions the head of Nicaragua's mining authority, along with another top government official, the department said in a statement. The order's expanded sanctions powers could also be used to block new U.S. investment in certain other sectors in Nicaragua, the importation of certain Nicaraguan products or the exportation of certain items to Nicaragua, it added. The two sanctions announced on Monday target Nicaragua's General Directorate of Mines, a unit of the Nicaraguan Ministry of Energy and Mines that manages most mining operations in the country, and Reinaldo Gregorio Lenin Cerna Juarez, a close Ortega confidante, Treasury said.

President Joe Biden last week doled out $2.8 billion to miners developing new U.S. sources of lithium, nickel, copper and other EV minerals, as well as battery parts manufacturers and recyclers. Those grants followed August's Inflation Reduction Act, which links EV tax credits to minerals extracted domestically or from 20 allies. "People have a misconception about how quickly we can get mines up and running given the U.S. permitting process," said Megan O'Connor, Nth Cycle's CEO. "Hopefully, they'll give us some help and fast track some of the permitting process," said Kent Masters, Albemarle's CEO. The yawning divide between America and China's approaches to funding the EV supply chain is now a top concern for many policymakers and their advisers in the nation's capital.

☆ The software used in bitcoin mining is getting its first big makeover in more than a decade — here's what's changing
▼ + stars: | 2022-10-11 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

Bitcoin operates on a proof-of-work mining model, meaning that miners around the world run high-powered computers to create new bitcoin and validate transactions. Lee says that Stratum V2 supports a proxy that aggregates all the connections and only establishes one connection with the pool. To resolve this, Lee says Stratum V2 introduces a standard security mechanism with authentication and encryption between miners and pools. There are orders of magnitude more miners than pools, so if miners select transactions it is far more decentralized than just a handful of pools, Lee explained. Similar to the Lightning Network, which is a technology built on top of bitcoin's base layer to make payments more efficient, there will be different implementations of Stratum V2.

☆ This lithium stock can rally nearly 40% thanks to the EV boom, according to Piper Sandler
▼ + stars: | 2022-09-26 | by ( Pippa Stevens | ) www.cnbc.com time to read: +3 min

Driving the firm's bullish case is the disconnect between supply and demand for lithium, a critical EV material. Piper believes the market will remain in a deficit for at least the next three to four years, and potentially longer, "which will help sustain lithium pricing." Shares of Livent slid nearly 12% last week, but the stock has still registered a 25% gain for 2022. The firm believes that any pullback in auto sales would be focused on internal combustion engines rather than electric vehicles. "We will further localize the lithium supply chain in North America over the course of the agreement," GM added.

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