Elon Musk Needs Mines and We're Having a Party

• 🔥  What's New 
• 🎧  On the Rocks
  
• 📰  In The News
• ⚒️  Mining Data Digest Snapshot
• 📱  Trending On Social 
• ❓  Prospector Poll

🔥  What's New 

Upcoming Webinar: How Make The Most Of Prospector At PDAC
 
PDAC is a great opportunity to utilize Prospector's mobile and desktop app to research companies and projects on the go. Prospector’s rich and comprehensive database makes comparing companies, tracking projects, and calculating financial models a breeze. Stay organized at this year’s PDAC with Prospector’s list functionalities, calculate Life of Mine in real-time on the floor of PDAC with our NPV calculator, and make informed decisions using thousands of up-to-date project and company metrics. 

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RSVP To Get Your Free Drink At PDAC's Hottest Party

We're back with PDAC's most talked about party for a night with Mining Futurists and experts from around the industry - including investors, producers, issuers, suppliers, and more!

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Jess Scanlan

Head of New Media

🎧 On The Rocks

📰 In The News

Cybertruck: Musk Needs Mines

The launch of Tesla's futuristic Cybertruck EV will require massive amounts of battery metals like nickel, cobalt, lithium, and graphite to meet production targets. Estimates show that to fulfill just 1 million Cybertruck preorders, Tesla would need to secure the entire annual nickel output of Glencore's Murrin Murrin mine in Australia. Ramping up to higher production volumes would require even more mining, equivalent to half of Norilsk Nickel's output. The extreme battery metal demands highlight Tesla's reliance on mining and could spur greater investment in resources as Cybertruck production scales up. Securing sufficient metal supplies poses a major challenge for Tesla's most ambitious vehicle yet.

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Rio Tinto / BHP Tie Up Australian ‘Green Iron’

Rival Australian miners Rio Tinto and BHP will collaborate with steelmaker BlueScope on a pilot project to develop low-emission steel production using electric smelting technology. The companies aim to build an electric smelting furnace pilot plant that could start up by 2027, exploring pathways to decarbonize steelmaking which accounts for 8% of global emissions. Iron ore from Rio and BHP would be processed into direct reduced iron before feeding the electric furnace, eliminating the need for metallurgical coal. If successful after years of testing, the project could enable green iron production for export to Asian steelmakers. The partnership marks the first joint downstream venture between the major miners to address emissions from steel's coal-reliant supply chain.

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Gold Price Weaker On Booming U.S. Stock Market, China Demand Worries

Gold and silver prices were little changed in early U.S. trading on Friday following deflationary data from China, as record high stock markets weighed on metals demand. Gold slipped to $2,044.50 while silver edged up to $22.68. Prices have consolidated amid overall technical resistance and geopolitical risks. However, strong equities and dollar sentiment, plus muted inflation, have capped metals upside. Trading is expected to remain subdued with China on holiday next week. Technicals show gold has modest upside advantage while silver remains in a downtrend. Prices need renewed inflation fears or equity declines to regain momentum, with key resistance at $2,100 gold and $23.72 silver.

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⚒️ Mining Data Digest Snapshot

Geghi Ore Belt Company: Emerging Goldfields Resources Ltd.  Geography: Armenia Minerals: Polymetallic Date: 01/30/2024 View On Prospector

Situated within the Dastakertskoe Ore Field in the Zangezurski Ore Region of South Armenia, the Geghi Ore Belt project spans 154 square kilometers. Initial exploration by Soviet-era geoscientists indicated historical estimates for gold and silver in the Voskedzor target. Recent drilling suggests an epithermal intermediate sulphidation-type deposit amenable for open-pit development. Indicated Mineral resources at Voskedzor, with a cutoff of 1.00 g/t Au, now stand at 28.81 Mt grading 1.52 g/t Au, 10.22 g/t Ag, 672.33 g/t Cu, 373.39 g/t Pb, and 769.22 g/t Zn. The ongoing exploration involves a comprehensive approach, including geochemistry, geophysics, and geological mapping, to define new drilling targets in 2023. 

📱 Trending On Social

The mining industry in 2024 faces supply pressures for key metals, ESG expectations, global uncertainty, and workforce challenges. Top trends include putting social purpose at the center, thriving amid volatility, strategic dealmaking for future growth, advancing net zero plans, collaborating with governments on regulations, reprioritizing exploration, addressing skills gaps, optimizing assets, adopting AI, and leveraging outsourcing. 

❓Prospector Poll

We will be LIVE with Ernest Scheyder next week discussing his book, “The War Below”. We want to know - are some places too special to mine, and if so, how do you determine which places should be left alone? 

Last Week's Results

Does Silver have a place on the US and Canada’s critical minerals lists?