DIRS.INFO The most relevant business & tech news

☆ Saudi Arabia considers new mining index in diversification push
▼ + stars: | 2022-11-04 | by ( Praveen Menon | ) www.reuters.com time to read: +3 min

Mining Minister Bandar bin Ibrahim al-Khorayef told Reuters in an interview in Sydney that his team met with Australian counterparts to learn more about a mining index, similar to Australia's ASX 300 Metals & Mining (XMM) sub-index (.AXMM) that lists metals and mining firms including producers of gold, steel and precious metals. "We have a secondary stock market in Saudi...its still evolving. "The whole idea (of a mining index) is to ensure that we have something that financing companies or financial institutions like banks can have good visibility on," he said. "We want to encourage people who offer services to mining companies to come to Saudi either directly or through partnering with some local people. Saudi is hosting the Future Minerals Forum in Riyadh in January, where it hopes to announce more details of its plans for the mining sector.

☆ Here's an exclusive look at the 19-slide pitch deck a Tesla alum used to raise a $2.5 million seed round for his Web3 climate-tech startup
▼ + stars: | 2022-11-04 | by ( April Joyner | ) www.businessinsider.com time to read: +2 min

Return lets people buy carbon credits to offset their crypto activity. What jumped out at White, however, was another line of business at Tesla: the sale of carbon credits. Companies, organizations, and individuals buy carbon credits to offset greenhouse-gas emissions from their activities. Several projects — such as Toucan Protocol, with which Return has partnered — aim to bring transparency to carbon credits by listing them on blockchains. Here's an exclusive look at the pitch deck that helped White raise seed funding:

☆ Glencore employees moved bribes cash by private jet, London court told
▼ + stars: | 2022-11-02 | by ( Sam Tobin | ) www.reuters.com time to read: +3 min

LONDON, Nov 2 (Reuters) - Employees and agents of a British subsidiary of mining and trading group Glencore (GLEN.L) used private jets to transfer cash to pay bribes to oil officials in West Africa, prosecutors told a London court on Wednesday. Glencore Energy UK Limited paid – or failed to prevent the payment of – millions of dollars in bribes to officials in five African countries, Britain's Serious Fraud Office (SFO) told Southwark Crown Court on the first day of a sentencing hearing. She told the court the unidentified Glencore employee was assisted by the company’s agent in Nigeria, from where the cash was withdrawn and transported to Cameroon often by private jet. Another unidentified employee also requested the withdrawal of $800,000 in cash from Glencore International AG’s cash desk in Switzerland before flying by private jet with a colleague to South Sudan, Healy said. Clare Montgomery, representing Glencore, said the company’s chairman Kalidas Madhavpeddi, who took up the post in 2021, was in court for the sentencing.

☆ Wheat prices jump by nearly 6% after Russia withdraws from vital Ukrainian export deal
▼ + stars: | 2022-10-31 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +3 min

Anadolu Agency | Anadolu Agency | Getty ImagesGlobal wheat prices rose sharply Monday following Russia's withdrawal from the Black Sea grain export deal over the weekend. The increases come after Russia announced Saturday that it was suspending its involvement in the Black Sea Grain Initiative, which allowed vital agricultural products to be exported from several Ukrainian ports. Zelenskyy and Foreign Minister Dmytro Kuleba accused Russia of starting to sabotage the grain deal in September. Antonov told Russian media on Saturday that Kyiv's "reckless actions" had caused Moscow to suspend implementation of the grain deal. Many of the grain ships that left Ukraine in recent months, under the grain deal, were bound for both European and African ports.

☆ Lula’s victory in Brazil sparks optimism on deforestation, with ramifications for the world
▼ + stars: | 2022-10-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +7 min

Da Silva, commonly known as Lula, took 50.9% of the second round vote to incumbent Jair Bolsonaro's 49.1%, according to Brazil's election authority. watch nowLula used his victory address to pledge to combat climate change and deforestation — issues observers say have not just been sidelined but severely worsened under Bolsonaro's tenure. In 2019, he told foreign journalists: "No country in the world has the moral right to talk about the Amazon. "Around 95% of deforestation in the last four years in the Amazon has had some level of illegality," he said. Norway is already looking to resume aid for anti-deforestation efforts to Brazil, which it suspended during Bolsonaro's term, local newspaper Aftenposten reported Monday.

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.

☆ U.S. awards $2.8 billion for EV battery, grid projects
▼ + stars: | 2022-10-19 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON (Reuters) - The Biden administration will announce on Wednesday it is awarding $2.8 billion in grants for projects to boost U.S. manufacturing of electric vehicle batteries and domestic mineral production, a White House official told Reuters. REUTERS/Kevin LamarqueThe White House is also launching an effort, dubbed the American Battery Material Initiative, to strengthen critical mineral supply chains as automakers race to expand U.S. electric vehicle and battery production. The projects include “retrofitted, and expanded commercial-scale domestic facilities to produce battery materials, processing, cell components, and battery recycling and demonstrations,” the White House official said. Legislation Biden signed in August sets new strict battery component and sourcing requirements for $7,500 consumer EV tax credits. The White House said in a fact sheet the United States and allies do not produce enough of the critical minerals and materials used in EV batteries.

☆ Australian lithium miner IGO says chief executive dies suddenly
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - Australian nickel-lithium miner IGO Ltd (IGO.AX) said on Monday its Chief Executive Officer Peter Bradford died suddenly on Saturday. The company did not disclose the cause of death. Bradford had led IGO since March 2014 and was also president of the Association of Mining and Exploration Companies (AMEC) which represents over 450 firms from across Australia. IGO said it had appointed Chief Operating Officer Matt Dusci as acting chief executive with immediate effect. Register now for FREE unlimited access to Reuters.com RegisterReporting by Upasana Singh in Bengaluru, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto miners turn to infrastructure consultancies like Sabre56 to help them avoid costly mistakes
▼ + stars: | 2022-09-28 | by ( Parisa Hashempour | ) www.businessinsider.com time to read: +6 min

Kazi Awal/InsiderLimited power and infrastructural and logistics issues have led to inefficiencies in cryptocurrency mining farms. Sabre56 is a cryptocurrency mining consultancy working to plug a hole in this sector's problems. Companies like Sabre56 aim to help crypto miners avoid mistakes and make good choices in terms of infrastructure and planning. While many investors who populate the crypto mining industry have access to capital, Harvey says millions of dollars are often spent buying equipment without considering essential infrastructural issues. Designing a successful crypto mining facilitySabre56 has consulted on projects as varied as re-routing excess power from Abu Dhabi's nuclear projects to sustainably-sourced mining in Norwegian and Canadian hydroelectric dams.

☆ Bitcoin mining struggles to go green, research shows
▼ + stars: | 2022-09-27 | by ( Tom Wilson | ) www.reuters.com time to read: +2 min

REUTERS/Edgar SuLONDON, Sept 27 (Reuters) - Bitcoin is struggling to go green, with the cryptocurrency making only slim gains in its usage of sustainable energy in the year to January, research by Cambridge university showed on Tuesday. Processing bitcoin transactions and "mining" new tokens is done by powerful computers, hooked up to a global network, that compete against others to solve complex mathematical puzzles. Register now for FREE unlimited access to Reuters.com RegisterProjects have sought ways to shift bitcoin mining towards cleaner energy, such as repurposing heat byproducts from oil extraction for crypto mining. Bitcoin mining is mostly unregulated and opaque, with few centralised bodies gathering data. The Cambridge study was based on data on the geographical spread of mining across the world and the energy mix of individual countries.

☆ Goldman says copper demand is about to surge. Here are the stocks it expects to benefit
▼ + stars: | 2022-09-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Copper demand is set to surge, Goldman Sachs says — and supply is unlikely to keep up. The investment bank has named a number of metal stocks it says will shine in a copper deficit scenario. Along with the "green transition" driving a surge in demand for copper, Goldman noted that new supply from approved projects will peak in 2024. After this, there are no significant copper projects planned until 2027 or 2028, it added. "While supply growth appears muted from 2024, demand is likely to accelerate given the push towards a low-carbon economy and growing green copper demand," Goldman analysts wrote in a Sept. 13 report.

☆ Ethereum's massive software upgrade just went live — here's what it does
▼ + stars: | 2022-09-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

The overhaul to the ethereum network fundamentally alters the way the blockchain secures its network and verifies transactions. But with the upgrade, ethereum has migrated to a system known as proof-of-stake, which swaps out miners for validators. "But the network as a whole — because of the redundancy across all this different software — will very likely be stable and fine." The rewards for validators are much smaller than those that went to proof-of-work miners, meaning that less ether will be minted as a result of this upgrade. Next few hours, days are keyThe next few hours and days will be key to gauging the health of the ethereum network post upgrade.

☆ How Jay-Z and Jack Dorsey's Bitcoin Academy provides financial inclusion and breaks down barriers of inequity
▼ + stars: | 2022-09-07 | by ( John Lynch | ) www.businessinsider.com time to read: +16 min

Insider profiled Jay-Z and Jack Dorsey's Bitcoin Academy at the conclusion of its program for Marcy Houses in Brooklyn. For Marcy resident Mariela Regalado, The Bitcoin Academy represented a continuation of an altruism she had seen from Jay-Z firsthand. Lamar Wilson teaching at The Bitcoin Academy. Following the conclusion of its summer courses at Marcy Houses, The Bitcoin Academy is "looking to expand to other neighborhoods soon," the program said. The over 350 people who attended The Bitcoin Academy classes let us know that this education is important to them - and that it matters.

☆ Jerrod Carmichael Was Scared of Coming Out. He Still Is.
▼ + stars: | 2022-07-11 | by ( David Marchese | ) www.nytimes.com time to read: +19 min

Mamadi Doumbouya for The New York Times Talk Jerrod Carmichael Was Scared of Coming Out. Anything other than “I’m gay” was me dodging. Everything was actually “I’m gay.” But it’s still dodged. The working title of “Rothaniel” was “I’m Gay.” There are certain phrases that have no substitute. Like “I’m gay” or telling someone “I’m sorry.” But people can live in cognitive dissonance.

Persons: Mamadi Doumbouya, Jerrod Carmichael, ”, “ I’m, Carmichael, Seth Meyers ”, Howard Stern, “, ” Carmichael, —, I’ve, You’ve, it’s, I’m, ‘, ’ ’, Dave, Chapelle, ” It’s, Hitler, Martin Luther King, Michael Jackson, ” —, Jay Z, Mozart, Rothko, Jay, It’s, Norm Macdonald, Malcolm X, shouldn’t, Jessica Chastain’s, Bo, Burnham, can’t, Something’s, Seth Meyers ’ ’, Lloyd Bishop, Lizzo, that’s, That’s, She’s, — that’s, Rothaniel, Wesley Morris, Eddie Murphy, you’ve, Eddie, he’s, I’d, You’d, D’Angelo’s, Spalding, Eric Butterworth, Maya Angelou, Oprah Winfrey, Christian, Read Eric Butterworth, David Marchese, Neal Stephenson, Laurie Santos, Christopher Walken Organizations: The New York Times, York’s Whitney Museum of American, HBO, Twitter, NBC, NBCU, Bank, Getty

Search resuls for: "of Mining"

14 mentions found