DIRS.INFO The most relevant business & tech news

☆ U.S. cities are sinking. Here's what that means for homeowners
▼ + stars: | 2024-07-11 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +1 min

The land below many U.S. cities is sinking, including New Orleans, New York City, Miami and south San Francisco. This phenomenon, known as land subsidence, can severely affect the integrity of buildings and infrastructure. Problems associated with land subsidence can cost U.S. homeowners 6% of their home value. Their research focused on the Central Valley of California, but Nemati said the findings could be extrapolated nationwide. Consumers are likely to see the effect of land subsidence directly, in the form of problems with their home, and indirectly, in the form of issues for their local economy.

Persons: Mehdi Nemati, Nemati Organizations: University of California, Finance Locations: U.S, New Orleans , New York City, Miami, San Francisco, Riverside, Valley of California

☆ Zelenskyy says the problem with the coming F-16 fighter jets is the same one Ukraine had with the Abrams tanks
▼ + stars: | 2024-07-11 | by ( Chris Panella | Jake Epstein | ) www.businessinsider.com time to read: +6 min

Read previewWestern-provided F-16 fighter jets are on their way to Ukraine and set to start flying missions later this summer. But they may not yet be enough to make a difference on the battlefield, Ukrainian President Volodymyr Zelenskyy indicated in a discussion this week on what Ukraine needs, comparing the jets to the US-made Abrams tanks that Ukraine got last fall. "The problem with F-16," the Ukrainian president said, "is the number and the dates." The US sent only 31 M1A1 Abrams in total, and they were delivered to Ukraine months after British and German tanks. For comparison, Ukraine received about 300 US-made Bradley infantry fighting vehicles, nearly ten times more than the number of Abrams sent.

Persons: —, Volodymyr Zelenskyy, Abrams, Bret Baier, Zelenskyy, Derek Seifert, Zelenskky, haven't, Michael Currie, Antony Blinken's, it's, Zachariah Lopez, Jake Sullivan Organizations: Service, Business, Fox News, Reagan Institute, Abrams Ukraine, NATO, Egyptian, Force, US Air Force, US, Abrams, Bradley, Getty, Ukraine —, Ukrainian Air Force, Osan Air Base, US Air Force Tech, White, National Locations: Ukraine, Ukrainian, Washington , DC, Russia, Egypt, Denmark, Netherlands, Soviet, South Korea

☆ Russian forces appear to be making crude artillery guns by pulling the main armaments off of old BMP armored fighting vehicles
▼ + stars: | 2024-07-07 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Read previewRussian forces appear to be fashioning improvised artillery guns from the main armaments of old BMP-1 armored fighting vehicles. Another video shows a group of soldiers towing the improvised gun into position. And while the improvised 2A28 artillery gun may act as a temporary fix for dwindling supplies, it is highly likely to be inaccurate. Related storiesOne video shows the device, which is designed to be fired from a stable armored turret, jumping off of the ground as each shot is fired. In March, videos appeared to show Russian troops using vulnerable golf cart-style vehicles to transport infantry to the frontline.

Persons: —, Rob Lee, Lee Organizations: Service, Business, The General, of Ukraine's Armed Forces, Foreign Policy Research Institute Locations: Russia, Ukraine, Ukrainian

☆ New Factories and Jobs Are Not Enough to Stem France’s Far Right Surge
▼ + stars: | 2024-07-05 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

Between abandoned coal mines and an engine plant scheduled for closure, a gleaming new factory hovers like a phoenix over Billy-Berclau, a small industrial town in northern France. Inside, 700 newly hired workers are making next-generation electric vehicle batteries for the Automotive Cells Company — part of a grand project to revive the wider region’s flailing fortunes. A “Battery Valley” is rising here from the remains of industries that shuttered during a wave of globalization. “Industry is an anti-National Rally weapon, because in places where anger has risen, we’re restoring hope,” Roland Lescure, Mr. Macron’s deputy industry minister, said earlier this year. Billy-Berclau, and nearly every other town in this region of Pas-de-Calais handed a resounding victory last week to National Rally in parliamentary elections — a trend that is likely to be repeated in a final voting round on Sunday.

Persons: Berclau, Emmanuel Macron’s, ” Roland Lescure Organizations: Automotive Cells Company, “, Calais, Rally Locations: France, Pas

☆ Iran's Islamic Revolutionary Guard Corps gets powerful ships to confront adversaries well beyond the Persian Gulf
▼ + stars: | 2024-07-04 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +17 min

Read previewIn the last three years, Iran's Islamic Revolutionary Guard Corps Navy has commissioned hundreds of new vessels. AdvertisementThe Shahid Hassan Bagheri is one of three new Soleimani-class missile corvettes that are the most heavily armed warships in the Islamic Revolutionary Guard Corps Navy's fleet. Despite being lightly armed, it has a record of harassing US vessels and civilian ships in the Persian Gulf. AdvertisementThree Soleimani-class corvettes, Shahid Soleimani, Shahid Hassan Bagheri, and Shahid Sayyad Shirazi, have been commissioned, while a fourth, Shahid Ra'is-Ali Delvari, is under construction. AdvertisementMahdavi will eventually be joined by another converted container ship, the Shahid Bagheri.

Persons: —, Shahid Hassan Bagheri, Morteza Nikoubazl, Ayatollah Ali Khamenei, Shahid Soleimani, Nazeri, Shahid Nazeri, SAMs, Shahid Sayyad Shirazi, Shahid Ra'is, Ali Delvari, Hassan Bagheri, Abu Mahdi al, Shahid, Alireza Tangsiri, Shahid Mahdavi, 400Y8DYPlr — Mehdi H, Shahid Roudaki, Roudaki, Mahdavi, Lewis B, Puller, Shahid Bagheri, Bagheri, Tangsiri, IRGCN, Ayatollah Khamenei, Nadimi, Saviz, Diego Garcia, Benjamin Brimelow Organizations: Service, Islamic Revolutionary Guard Corps Navy, Business, Islamic Revolutionary Guard Corps Navy's, Islamic Revolutionary Guard Corps, US, Quds Force, Guard, Southern Hemisphere, American, British, Washington Institute for Near East Policy, Global Affairs, Fletcher School of Law, Diplomacy, Modern, Institute Locations: Iran, Saudi Arabia, Persian, Gulf of Oman, Hormuz, China, Russia, Taiwan, Norway, Yemen, Makran, Morteza, Israel, Lebanon, Hamas, Gaza, Syria, Mahdavi, West

☆ The U.S. needs more of this critical metal — and China owns 80% of its supply chain
▼ + stars: | 2024-07-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Picture Alliance | Picture Alliance | Getty ImagesBEIJING — China dominates the supply chain for many of the world's critical minerals, but so far it's held off on sweeping restrictions on at least one: tungsten. Almonty claims the forthcoming mine in South Korea has the potential to produce 50% of the world's ex-China tungsten supply. "We see in the U.S., in Europe, they ask their suppliers for a China-free supply chain," said Michael Dornhofer, founder of metals consulting firm Independent Supply Business Partner. watch nowBack in January, U.S.-based research firm Macro Ops said: "We're approaching an inflection point in tungsten supply. Other non-Chinese companies in the tungsten supply chain are going to South Korea.

Persons: Lewis Black, Biden, Black, Yadong, Almonty, Michael Dornhofer, Dornhofer, Brandon Beylo, he's, Mark Seddon, Warren Buffett Organizations: Saxony Minerals, ., Getty, Taiwan Semiconductor Manufacturing Company, Nvidia, Almonty Industries, China's Ministry of Commerce, Independent Supply, Energy, Security Holdings, European, Chinese Communist Party, U.S . Bureau of Industry, Security, Department of Commerce, CNBC, Argus, IMC, IMC Group Locations: Germany, BEIJING, China, Canada, South Korea, U.S, Europe, United States, South Korea China, North Korea, Africa, Myanmar, Daegu

☆ Gautam Adani wants to transform India’s biggest slum
▼ + stars: | 2024-06-29 | by ( Jessie Yeung | Noemi Cassanelli | ) edition.cnn.com time to read: +18 min

Noemi Cassanelli/CNNA man works at Shaikh’s workshop in Dharavi slum on April 14. “All slum redevelopment is quite fraught,” Kamath said. Noemi Cassanelli/CNNWomen chatting in Dharavi on April 14 Noemi Cassanelli/CNNA woman carrying fabric walks along a narrow alley in Dharavi on April 14. He is India’s largest airport operator and owns India’s biggest private port operator and private thermal power operator. The state and Adani deny any wrongdoing, but that hasn’t stopped many residents from viewing Adani and his government ties with suspicion.

Persons: Noemi Cassanelli, Masoom Ali Shaikh, ”, “, Gautam Adani, Jeff Bezos, ” Adani, ” Shaikh, ” Lofty, Dharavi, they’re, Lalitha Kamath, ” Kamath, aren’t, Dilip Gabekar, Narendra Modi, Adani, ’, Gabekar, Shaikh, They’re, Baburao Mane, Mane, CNN Neeta Jadhav, Neeta Jadhav, Jadhav, Dhanshuk Purshottamwala, He’s, Kamath, Prasant, hasn’t, Modi, ferociously, Reshma Prasant Organizations: CNN, India CNN, Adani, Tata Institute of Social Sciences, Reuters, Adani Enterprises, Bharatiya Janata Party, Private, Manohar Joshi, NDTV Locations: Mumbai, India, CNN Mumbai, Dharavi, Uttar Pradesh, Gujarat, Tamil Nadu, “, Adani, Maharashtra, It’s, India’s

☆ Opinion: Ukraine’s new weapon against Russia? Lego
▼ + stars: | 2024-06-29 | by ( Opinion Roy Schwartz | ) edition.cnn.com time to read: +7 min

Pictured in Lego miniature is Kyiv’s Golden Gate, released as part of United24's second wave of Ukrainian monument replicas. The inspiration for a Lego campaign came from these initiatives and from Lego Architecture, an adult-oriented line of sets recreating iconic landmarks. The second wave, #UKRAINEinLEGObricks, released last month, includes Kyiv’s Golden Gate, Crimea’s Khan Palace, Lviv’s Oblast’s Pidhirtsi Castle, Odesa’s National Academic Opera and Mykolaiv’s Astronomical Observatory. Mykolaiv’s Astronomical Observatory is featured in Lego's second wave of monument recreations. UNITED24All models are made from authentic Lego bricks, though the Lego company isn’t affiliated with the project nor the artists building the sets.

Persons: Roy Schwartz, Volodymyr Zelensky, Yaroslava Gres, Gres, United24, isn’t, Brick, Mark Segedie, ”, ” Eric Law, he’d, “, Law, ” Gres, there’ll Organizations: Twitter, Facebook, CNN, Russia, Deloitte, US, Council, Foreign Relations, World Bank, Lego Foundation, Lego Architecture, Opera, raffles, Velykokostromska Locations: royschwartz.com, Germany, Poland, Ukraine, Russia, Ukrainian, Chicago, Khan, Dnipropetrovsk Oblast, American, Tacoma

☆ Ukraine's fighting to stay 'five steps ahead' of the Russians in the 'cat-and-mouse' drone game, top official says
▼ + stars: | 2024-06-24 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Kyiv and Moscow have both sought to significantly ramp up production of unmanned systems as each side looks to out-produce their enemy and score a numerical advantage. AdvertisementUkrainian officials said in December that Kyiv plans to produce one million first-person-view, or FPV, drones by the end of this year. A Ukrainian soldier of the 71st Jaeger Brigade prepares FPV drones at the frontline near Avdiivka, in the Donetsk region, on March 22, 2024. In February, Fedorov said Ukraine will reach its FPV production goals by the end of the year. Advertisement"You can track the successes of Ukraine's long-range program by the surprising news coming from Russia," Fedorov said.

Persons: —, it's, Mykhailo Fedorov, Chasiv Yar, Jose Colon, Fedorov, " Fedorov Organizations: Service, Business, Anadolu, Getty, 71st Jaeger Brigade, AP, BI, Ukraine doesn't, Fleet Locations: Ukraine, Kyiv, Moscow, Ukrainian, Russia, Donetsk, Avdiivka, Crimean

☆ Russian ships are being taken out by mines covertly laid by Ukrainian sea drones: report
▼ + stars: | 2024-06-24 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Read previewUkrainian uncrewed surface vessels are laying undersea mines that have already damaged several Russian warships in the Black Sea, The Wall Street Journal reported. The paper reported that the mines have damaged four Russian warships to date, including the missile corvette Samum and the patrol ship Pavel Derzhavin. AdvertisementWhile successful attacks on Russian ships using sea drones packed with explosives have been well documented, the use of drones to lay mines has not received the same attention. At the time, intelligence sources briefed Reuters and Ukrainan media that it had been struck by a Sea Baby drone. AdvertisementDespite having no conventional navy, Ukraine continues to punch above its weight in the Black Sea.

Persons: —, Brig Gen Ivan Lukashevych, Lukashevych, Pavel Derzhavin, Lukashevych's Organizations: Service, Street Journal, Business, Reuters, Fleet Locations: Russia, Sevastopol, Ukraine, Novorossiysk

☆ Ground robots may be the 'next game-changer technology' of the war, senior Ukrainian official says
▼ + stars: | 2024-06-24 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Read previewUkraine has its eyes set on a dynamic fleet of ground robots to fight alongside — and, sometimes, instead of — its soldiers in combat as Kyiv continues growing its arsenal of unmanned systems. Multiple ground robots at a UNITED24 summit. UNITED24The new ground combat robots can assault and defend positions, as well as conduct surveillance and reconnaissance, all while being operated remotely from up to two-and-a-half miles away. Ground robots have even been involved in drone-on-drone combat, underscoring a level of depth and sophistication to these operations. The evolution of unmanned systems has been one of the defining elements of the Ukraine war.

Persons: —, Mykhailo Fedorov, Fedorov, there's, " Fedorov Organizations: Service, Business, Systems, Technologies Locations: Ukraine, Ukrainian, Russian, Russia, Western

☆ Elon Musk's Boring Company reduced the natural beauty of Texas to 'gravel mines,' resident says
▼ + stars: | 2024-06-20 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

Elon Musk moved The Boring Company to Texas in 2021, per the Times of London. A resident told the outlet it has turned Texas' "incredible vistas" into "gravel mines." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk's construction company, The Boring Company, has turned Texas' "incredible vistas" into "gravel mines," a longtime resident told The Times of London. According to The Times, Musk moved his tunnel-building venture to Bastrop, a rural town of about 12,000 people located 30 miles east of Austin, in 2021.

Persons: Elon Musk, —, Erin Flynn, Musk Organizations: Boring Company, Service, Elon, The Boring Company, Times, The Times, Business Locations: Texas, London, Bastrop, Austin

☆ Land mine blasts inflicted casualties on North Korean troops in DMZ in recent months, South says
▼ + stars: | 2024-06-18 | by ( Yoonjung Seo | Nectar Gan | ) edition.cnn.com time to read: +3 min

Seoul, South Korea CNN —North Korean troops have suffered “multiple casualties” from land mine explosions while laying explosives along the country’s heavily armed border with the South in recent months, the South Korean military said Tuesday. A number of the North Korean soldiers were killed or wounded by land mine explosions, the JCS said in a statement, without providing more details on the casualties. The South Korean military is closely monitoring the North’s military activities on the border, it added. It said the measures are also an effort by North Korea to strengthen internal controls, such as blocking North Korean residents and troops from defecting to South Korea. Separately, South Korean troops fired warning shots after North Korean soldiers working in the DMZ briefly crossed into the South on Tuesday in the second such incident in less than two weeks, the JCS said.

Persons: Kim Jong, Kim’s, Kim Yo Jong Organizations: South Korea CNN — North, South Korean, South Korea’s, Chiefs of Staff, North, South, United Nations Command, Korean Locations: Seoul, South Korea, South, Pyongyang, Korean, North Korea, China

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ US-made Abrams tanks are fighting a dangerous new kind of war, but Ukrainians are building unusual armor to help them survive it
▼ + stars: | 2024-06-11 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

However, one Ukrainian company is building steel screens that can offer the tanks an extra layer of protection. For more than a year and a half, the company has been making protective steel screens for Kyiv's aging T-64 and T-72 tanks. Related VideoJust a few weeks ago, this operation expanded to the Abrams tanks, US-made armor designed and developed during the Cold War to fight the Soviet tank threat. An M1 Abrams tank with protective screens in May. The jury is still out for the Abrams tanks, as they were only recently given the added protection.

Persons: —, Abrams, Oleksandr Myronenko, Christian Carrillo, Metinvest, Myronenko, it's Organizations: Service, Abrams, Business, Metinvest, M1A1, US, Spc, Soviet, Bradley Fighting Locations: Ukraine, Ukrainian, Zaporizhzhia, Germany, Russia, Soviet

☆ Video shows a Ukrainian drone finding an easy way around a Russian tank's 'turtle' defenses
▼ + stars: | 2024-06-06 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewA dramatic video shared by Ukraine's defense ministry on Wednesday showed an aerial drone finding a simple way around a Russian tank's formidable "turtle" defenses. "Occupiers made a 'turtle' tank but forgot to close a hatch... Ukraine's drone pilots don't forgive such mistakes," Ukraine's Ministry of Defence said in the accompanying text. Occupiers made a 'turtle' tank but forgot to close a hatch...🇺🇦 drone pilots don't forgive such mistakes. One "turtle" tank was spotted fitted out with a tent-like metal structure, while another one was seen with pallets on it. Ukraine has previously released videos showing drones taking out Russian "turtle" tanks on the battlefield.

Persons: — Organizations: Service, Ukraine's 93rd Mechanized Brigade, Business, Ministry of Defence, 93rd Mechanized Brigade, Pilots Locations: Russian, Bakhmut

☆ The D-Day landings, in pictures
▼ + stars: | 2024-06-05 | by ( ) edition.cnn.com time to read: +2 min

With him were soldiers from the US Army's 1st Infantry Division, cold and soaked from the choppy waters. It is one of the most widely reproduced photos from the Normandy landings, which laid the foundation for the Allied defeat of Germany in World War II. This year marks the 80th anniversary of D-Day, the largest amphibious invasion in history. There were many Allied casualties that day — around 4,440 Allied troops were confirmed dead, according to the Commonwealth War Graves Commission, with more than 5,800 troops wounded or missing. "The coast of France this morning was certainly no photographer's party," he told Winship.

Persons: Robert F, Sargent, Higgins, Thomas Winship, Samuel Chase, Winship Organizations: US Coast Guard, US Army's 1st Infantry Division, Coast Guard Combat, Commission, Allies Locations: Normandy, France, Germany

☆ On the Brazilian Coast, a Tropical Town Beloved by Artists and Makers
▼ + stars: | 2024-05-31 | by ( Nora Walsh | ) www.nytimes.com time to read: +3 min

Sign up here to find us in your inbox once a month, and to receive our weekly T List newsletter. Roughly halfway between São Paulo and Rio de Janeiro, the coastal town of Paraty (population 45,000) isn’t the easiest place to reach. It’s that relative seclusion that keeps the tourist hordes and unbridled development at bay, despite the town’s obvious appeal. African slaves not only worked in the mines but built much of the town’s early infrastructure, such as its roads. At the end of the 19th century, Santos, 190 miles to the south, supplanted Paraty as the country’s primary coffee-exporting port, and the town began to languish.

Persons: São, Luana Assunção, ”, Dom João, “ You’ll Organizations: São Paulo, Free Walker Tours Locations: tlist@nytimes.com, Rio de Janeiro, Paraty, Costa Verde, Ilha Grande, CHEE, Minas Gerais, Santos, “, Rio, Orleans

☆ Why there's a massive copper shortage
▼ + stars: | 2024-05-31 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Demand for copper is surging. The red metal, considered a barometer for economic health, is a vital component for the construction and defense industries as well as a key component in electric cars, wind turbines and the power grid. Existing mines and projects under construction will meet only 80% of copper needs by 2030, according to the International Energy Agency. "High-grade economic copper resources are not abundant, these things aren't all over the place, you have to go find them," said Chris LaFemina, global metals and mining analyst at Jefferies. To look at the challenges facing copper producers, CNBC got a behind the scenes look at Rio Tinto's Kennecott mining operation outside of Salt Lake City.

Persons: Chris LaFemina Organizations: International Energy Agency, Jefferies, CNBC Locations: Rio, Salt Lake City

☆ US sending military aid to Ukraine to help repel Russian attacks on Kharkiv
▼ + stars: | 2024-05-24 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +3 min

CNN —The United States is sending $275 million in military assistance to Ukraine as part of “efforts to help Ukraine repel Russia’s assault near Kharkiv,” Secretary of State Antony Blinken announced Friday. “We will move this new assistance as quickly as possible so the Ukrainian military can use it to defend their territory and protect the Ukrainian people,” Blinken said in a statement. Russian forces have advanced toward Kharkiv, Ukraine’s second-largest city, after launching a surprise cross-border assault in mid-May. “We’re committed to making sure that Ukraine has the equipment it needs to succeed on the battlefield.”However, the US has continued to say its weapons cannot be used by Ukraine to strike Russian targets on Russian territory. “We have not encouraged or enabled strikes outside of Ukraine,” Blinken reiterated last week.

Persons: Antony Blinken, ” Blinken, Volodymyr Zelensky, ” Zelensky, Blinken, Dmytro Kuleba, “ We’re Organizations: CNN, ”, Kharkiv, High Mobility Artillery Rocket Systems, Ukrainian, US Locations: United States, Ukraine, Kharkiv, “, Ukrainian, ”, Ukraine’s, Lyptsi

☆ Copper prices will extend records and surge another 288% in the coming years, top trader says
▼ + stars: | 2024-05-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Top commodity trader Pierre Andurand expects copper to reach $40,000 a ton in the next four years. AdvertisementCopper prices at records are only a taste of what's to come, says top commodities trader Pierre Andurand. Copper is already sitting near record highs, so any quadrupling from current levels would mean a prolonged series of fresh records. It's bad news for a depleting inventory; last year, global copper supply hit its lowest seasonal level since 2008. The supply-demand imbalance is the same thesis for why commodities expert Jeff Currie expects higher prices, though his projection is nowhere near Andurand's — Currie expects copper to hit $15,000 in the coming years, and has called it "the most compelling trade" he's ever seen.

Persons: Pierre Andurand, —, That's, Andurand, BHP's, Jeff Currie, — Currie, I'm, Currie Organizations: Service, Financial Times, Bloomberg

☆ Opinion | A Giant Crater in Siberia Is Belching Up Russia’s Past
▼ + stars: | 2024-05-23 | by ( Sophie Pinkham | ) www.nytimes.com time to read: +1 min

Even the roads are buckling, cracking and collapsing, as if in a slow-motion earthquake. And outside a small town called Batagay, deep in the Siberian hinterland, a crater is rapidly opening up — known to locals as the gateway to the underworld. Already more than half a mile deep and about 3,000 feet wide, the Batagaika crater is growing as the ground beneath it melts. The land is belching up the past and swallowing the present — creating a yawning hole even more dizzying than the huge open-pit mines that already scar the Siberian landscape. In Alaska houses in rural villages are sinking into the ground as the shoreline falls into the sea.

Locations: Russia, Batagay, Canada, China, Tibetan, Alaska

☆ San José: Colombia launches expedition to explore 300-year-old Spanish shipwreck filled with sunken treasure
▼ + stars: | 2024-05-22 | by ( Heather Chen | Michael Rios | ) edition.cnn.com time to read: +3 min

The images will then be used to build an inventory of the archaeological discoveries on the seabed. But it has also sparked a multi-billion dollar legal battle. Colombia maintains that it first discovered the San José in 2015 with help from international scientists. SSA has launched a legal battle against the Colombian government in the Permanent Court of Arbitration, claiming it is entitled to approximately $10 billion – half the estimated value of the shipwreck’s treasure. The loss of the San José and its cargo was said to have caused financial hardships to merchants throughout Europe and the New World, according to reports released by SSA.

Persons: –, Juan David Correa Organizations: CNN, Colombian Institute of Anthropology, Wednesday, San, San Jose Galleon, SSA Locations: Colombia, Spanish, Caribbean, Cartegena, Colombian, Potosi , Peru, Panama, Cartagena, San Jose, José, Europe

☆ Four Lawmakers Denounce Plan to Ease Sanctions on Israeli Mining Executive
▼ + stars: | 2024-05-21 | by ( Eric Lipton | More About Eric Lipton | ) www.nytimes.com time to read: +1 min

A bipartisan group of four congressional lawmakers have objected to the Biden administration plan to boost access to metals needed for electric vehicle batteries by easing sanctions on an Israeli mining executive accused of corrupt practices in the Democratic Republic of Congo. The objection came as the Biden administration moves to allow Dan Gertler, an Israeli billionaire, to sell his financial stake in three mines in Congo as part of an effort to remove him from the mining trade there. Senior Biden officials have argued this will help Congo, the largest producer of cobalt in the world, by enticing more Western-leaning investors. Mr. Gertler has said that all his investments in Congo were aboveboard. But the four lawmakers — two senators and two House members — disputed that, saying the Biden administration was wrong to propose allowing Mr. Gertler to profit as he sells off his holdings in Congo.

Persons: Biden, Dan Gertler, Gertler, — Organizations: Democratic, Biden Locations: Democratic Republic of Congo, Congo

The “Code 9.2” drone unit, from the 92nd assault brigade, are moving into a new launch position from where they are about to conduct a rare and potent mission: flying drones into Russia and dropping mines onto key roads inside enemy territory. It is only when the dark has set in that their work can begin. Before operators Andrey and Artem can leave the bunker to begin work, a noise sends them rushing back in for cover. It is only when the dark has set in that the work of Ukrainian drone unit 'Code 9.2' can begin. Artem and Andrey race to attach the mines to the drone, using only red lights.

Persons: Andrey, Artem, “, ” Andrey hisses, ”, Vladimir Putin, Brice Lainé, Ukraine’s, Sasha, Volodymyr Zelensky –, – Organizations: Ukraine CNN, 92nd, CNN Locations: Russian, Kharkiv region, Ukraine, Russia, Belgorod, Kharkiv, Bakhmut, Ukrainian, Donetsk, –, “, Moscow

Search resuls for: "Mines"

25 mentions found