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Challenges in critical minerals supply threaten global energy transitions
Published: 22 Nov 24
An unprecedented surge in demand for critical minerals on the back of global transitions to clean energy is posing significant challenges in meeting these goals, as the critical minerals sector experiences various challenges, says data and analytics company GlobalData.
“The global transition to clean energy is gaining momentum, heavily relying on renewable technologies such as solar PV cells and wind turbines, alongside energy transition solutions like hydrogen, energy storage and carbon capture,” GlobalData explains, adding that this growing demand is putting pressure on minerals supply.
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Gold holds four-day gain on haven demand and dovish Fed comments
Published: 22 Nov 24
Gold held a four-day rally as haven demand added support amid an escalation in Russia’s war with Ukraine, while traders assessed prospects for further easing by the Federal Reserve.
Bullion traded near $2 670 an ounce — on track for its best week since April — after Ukraine said Russia launched a “new” kind of ballistic missile at the city of Dnipro in an alarming signal to Kyiv’s Western backers. Heightened geopolitical tensions tend to drive investors to safety assets, such as gold.
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Solaris appoints new CEO as it prepares to exit Canada
Published: 22 Nov 24
TSX- and NYSE-listed Solaris Resources has announced it will complete its exit from Canada by the end of 2024, with its headquarters relocating to Zug, Switzerland, effective January 1, 2025. The decision to redomicile comes after a Canadian government security review triggered by China’s Zijin Mining’s C$130-million investment plans in Solaris’ flagship Warintza copper project in Ecuador earlier this year.
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Troilus secures $1.3bn in potential funding for Quebec project
Published: 22 Nov 24
Canadian project developer Troilus Gold continues to make strides in its financing efforts for the development of its flagship copper and gold project in Quebec, with the announcement of a letter of intent (LoI) from Export Development Canada (EDC) for up to $300-million. The new LoI from EDC builds upon the earlier LoIs announced with key European export credit agencies. Together, these LoIs represent up to $1.3-billion in potential financing, positioning Troilus well as it prepares for the next phase of its journey toward becoming a North American copper and gold producer.
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Russia's diamond miner Alrosa to cut production and staff in 2025
Published: 22 Nov 24
Russia's Alrosa, the world's largest producer of rough diamonds by volume, may suspend some production in 2025 and cut staff as it grapples with low global prices, the sanctions-hit company's CEO, Pavel Marinychev, said on Thursday.
Marinychev said the global diamond industry was in a "deep crisis," with prices falling for a second consecutive year. For Alrosa, this crisis is exacerbated by a ban on Russian diamond sales to G7 and EU countries as part of Western sanctions.
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