Electric haul trucks are the key to meaningful emissions reduction in the mining industry, as they contribute to over 90% of vehicular emissions in mining. The electrification of these vehicles is steadily progressing and is expected to be a huge growth industry by 2044. Mining companies, OEMs, and battery suppliers are all showing interest in electric haul trucks due to their environmental benefits, cost savings, and increased productivity.
Japan’s Nikkei 225 index ended higher on Tuesday due to gains in mining, chemical, petroleum, plastic, and warehousing sectors. Osaka Gas, NTT Data, and Tokyo Gas were the notable gainers, while Toho, Kansai Electric Power, and Denso recorded losses. Overall, advancing stocks outnumbered falling ones on the Tokyo Stock Exchange, and the Nikkei Volatility index reached a 52-week high. In commodities markets, crude oil and Brent oil prices edged higher, while gold futures declined.
Ora Banda Mining (ASX:OBM) has received the second payment of $11.71 million in its $26 million sale of non-gold mineral rights at the Davyhurst Project in Western Australia. The sale is part of a farm-in agreement with Davyston Exploration Pty Ltd (DEPL), a subsidiary of Wesfarmers (ASX: WES). Ora Banda will also receive a 2% royalty on all other minerals from DEPL and an additional $4 million from Hawkes Point for effectively on-selling 1.5% of that royalty.
President Biden has announced new restrictions on drilling and mining in the Arctic National Wildlife Refuge in Alaska. The move is a major victory for environmentalists, who have long fought to protect the pristine area.
Andromeda Metals has completed the sale of its 25% stake in the Wudinna Gold Project to Lady Alice Mines and Cobra Resources for A$500,000 in cash and A$1 million in Cobra shares. The company’s subsidiary, Peninsula Resources, has received the cash payment and 52,010,000 Cobra shares, subject to escrow. The consideration shares will become freely tradable after 12 months, and the call option in favor of Cobra has expired.
American Battery Technology has commissioned its lithium hydroxide pilot plant in Nevada, advancing unconventional lithium extraction in the US. ArcelorMittal Calvert plans to construct an advanced facility for electrical steel production, reducing import dependency and supporting electric vehicle motors. Gold Royalty reports strong revenue in Q1, projecting a significant increase in 2024. Manara Minerals is set to acquire a stake in Pakistan’s Reko Diq gold and copper mine.
Economist Peter Schiff highlights the importance of investing in gold during economic uncertainty. He warns against selling gold and investing in risk assets, like tech stocks and Bitcoin, despite the threat of inflation. Schiff argues that gold is a safer investment and recommends buying mining stocks as they tend to over-react to gold price drops.
On Monday, Bitcoin saw a modest increase after completing its fourth halving on Friday, with prices rising 1.8%. Public cryptocurrency miners witnessed gains, with Marathon Digital and Riot Platforms showing rises of 3% and 5%, respectively. The halving event, occurring every four years, reduces incentives for Bitcoin miners while restricting the supply of new Bitcoins. Despite this, some analysts predict potential short-term risks for Bitcoin. Larger, well-established mining operations are better positioned to navigate the halving, while smaller operations may face challenges. Hash rates, indicating computational efficiency, are crucial in determining the profitability of mining.
Royalty Management Holding Corporation (Nasdaq: RMCO) will be attending the National Minerals Week 2024 in Kingston, Jamaica, from May 5th to 10th. The conference, hosted by the Jamaican Ministry of Agriculture, Fisheries, and Mining, will focus on raising awareness of the minerals and resources located within Jamaica and their role in the world economy. RMCO will meet with local organizations and communities to discuss opportunities for local hiring and partnerships to maximize value for all stakeholders. The company has invested in a high-quality iron ore, vanadium, and titanium asset in Jamaica that will provide a royalty stream to its investors.
