Weekly Nugget
Highlights From PDAC 2023!
We had a blast at PDAC 2023, and our team came away with valuable insights and some exciting news!
We leaned on ChatGPT this week, and On The Rocks is named a top mining podcast!
- Still Riding The High From PDAC...
- 🔥 What's New
- 🎧 This Week on On the Rocks
- 📰 In The News
- ❓ Prospector Poll
- 📈 Commodity Prices
🗨 Still Riding The High From PDAC...
So our AI friend ChatGPT wrote you a poem to introduce the newsletter this week!
The Prospector team, weary and worn
From PDAC's hustle and bustle and more
Their pens lay still, their minds are torn
But AI technology, they'll now explore
Leveraging its power, they turn to AI
To craft a newsletter, informative and wise
With mining industry updates, they'll comply
Their readers' knowledge, they'll seek to apprise
So though the team's recovery is slow
Their dedication and passion still glow
For the mining industry, they'll always go
And share their insights, high and low
Thus let this newsletter serve as a guide
To keep you informed, and to provide
The latest news, trends, and insights worldwide
From the Prospector team, with AI by their side.
🔥 What's New
On the Rocks Named #4 Best Mining Podcast!
Recently Mining Digital came out with their Top 10 Mining Podcasts to Follow in 2023, putting Prospector’s On the Rocks at #4 (but #1 in our hearts)! We look forward to bringing you tons of great episodes this year, with guests from all around the world and mining industry. Check out the latest podcast below with Eira Thomas!
Custom Data Query Shoutout
Q1 of 2023 is ending soon, and it’s not too late to use Prospector to help you with your mining reports and presentations! Our custom data queries leverage the full power of the Prospector database to help save you time and effort!
🎧 On the Rocks
📰 In The News
South American Countries Explore Formation of “Lithium OPEC”
Argentina, Chile, Bolivia, and Brazil are exploring the formation of a lithium cartel of sorts to coordinate the expansion of South America’s processing capacity and increase the use of mined lithium in battery manufacturing for electric vehicles. The group is inspired by the Organization of the Petroleum Exporting Countries and would be responsible for coordinating production flows, pricing, and good practices. The three countries that make up the lithium triangle already have 65% of the world's known resources of lithium and reached 29.5% of world production in 2020.
EV Mining Rush Could Come to Montana’s Mountains
U.S. Critical Materials, has announced that it has discovered the highest-grade deposits of rare earth elements in the country in the Bitterroot Mountains near the Montana-Idaho border. These elements, such as neodymium and praseodymiumr, are used in cellphones, laptops, TVs and electric vehicles. U.S. Critical Materials is hoping to exploit this opportunity as demand for these elements booms. However, the company will have to submit a plan of operations to the Forest Service, including a project description, documentation of hazardous substances and reclamation standards, before testing drilling in seven to 12 drill holes, and eventually opening a pit or underground mine.
High-Tech Capital Finds New Opportunities in an Old Industry
Silicon Valley investors and entrepreneurs are pouring billions of dollars of investment into the mining industry as they seek new markets and returns. High-tech capital has flowed into junior mining and innovation firms over the past three years, according to David Danielson of Breakthrough Energy Ventures, which is backed by Bill Gates. Danielson said the firm takes a high-risk-to-reward strategy, investing in up to 30 companies early and hoping for two or three to yield billion-dollar returns. Meanwhile, BHP is looking at ways to accelerate mineral discovery and mining innovation, and Rio Tinto is finding value in tailings.
Over 25% of Global Mined Copper Now Produced by Copper Mark
Awarded Sites - The Copper Mark, an assurance framework that promotes responsible practices for copper, molybdenum, nickel and zinc producers, has been awarded to three new sites, bringing the total number of participating sites to 39. Copper Mark-assured sites now account for more than 25% of globally mined copper, a significant achievement for the framework.
❓Prospector Poll
We gotta know - are you a podcast listener?
Each week we want to get your opinion about the mining industry. We'll release the results with next week's Nugget!
Last Weeks Results:
What non-traditional investor opportunities do you think mining companies should be targeting?
📈 Commodity Prices
Gold $1,940.24 /oz
Silver $22.37 /oz
Platinum $972.00 /oz
Palladium $1,402.00 /oz
Copper $3.65 /lb
Source: Prospector, as of March 21, 2023 at 4:00pm EST
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