In this week's Nugget we're digging into the latest industry news, tech reports, and our insights into mining in Colombia.
🚨 Just Released: Colombia Data Report 🚨
Want the inside scoop on Colombia's mining industry? Prospector has partnered with Global Scout to produce an in-depth Colombia Data Report analyzing the country's political landscape, security risks, and ESG factors related to mining. Don't miss this free download - click below to access the full report!
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Upcoming Webinar: Dig Into Mining In Colombia
Register for our upcoming webinar on Thursday, November 30th at 11 am EST to learn how to quickly and efficiently identify mining projects in Colombia by stage and estimate level, calculate net present value based on metal prices with built-in tools and evaluate discount rates and risk factors specific to each country and mining method. We will be joined by Mark Kester and Rachael Hughen from Global Scout, we're looking forward to a discussion about the state of Colombia and what risk factors play a role in its mining industry.
Amazon To Buy Solar Energy From Repurposed Coal Mine In Maryland
Amazon will purchase renewable energy from a new 200-job solar facility being built on a former 120-year-old coal mine site in Garrett County, Maryland. Amazon will use the clean energy to power its AWS data centers, fulfillment centers, and physical stores, while also providing green power to local communities. Constructing the solar farm on a cleaned-up brownfield site facilitates access to existing infrastructure. The project is expected to help the region avoid 133,000 tons of CO2 annually. The company touts the reuse of the former coal mine site for solar panels as a metaphor for the global energy transition.
Top Companies’ Lobbying Undermines Their Climate Pledges, Study Finds
A new study by InfluenceMap found that many major companies like Glencore, ExxonMobil, and Stellantis are lobbying for policies that conflict with their stated climate goals and net-zero emissions pledges. The report assessed 293 Forbes 2000 companies and found nearly 60% are at risk of 'net zero greenwash' due to misaligned lobbying activities. Examples include Glencore opposing EU climate policy, ExxonMobil pushing for oil and gas expansion in the US, and Stellantis backing efforts to weaken vehicle emissions standards. This highlights a major disconnect between corporate climate commitments and lobbying, undermining the credibility of net zero targets. The UN has said companies must align lobbying with climate plans, but many are failing to do so, impeding government climate policy progress.
‘Tremendous Number Of New Projects’ In The Critical Minerals Space: CSE CEO
Richard Carleton, CEO of the Canadian Securities Exchange (CSE), expects over 80 new exploration company listings on the CSE by the end of the year, despite challenges in asset valuation. He mentioned that Canadian lithium and graphite miners have been successful in raising capital from Australian investors, often at better valuations than in Canada. The resource sector is seeing activity in precious metals due to a recent increase in gold prices, but the primary driver for new companies is in strategic or critical minerals like lithium, graphite, copper, and cobalt.
Glencore Ready To Spin-Off Coal Unit After Sealing Teck Buy
Glencore is set to proceed with its plan to spin off its thermal coal business, securing a $9 billion deal for the coal division of Canada's Teck Resources. The Swiss mining and commodities trader intends to merge Teck's steelmaking coal business with its existing coal assets before demerging the combined unit and listing it on the New York Stock Exchange within two years. This move allows Glencore to focus on metals like copper, nickel, and zinc, creating more value for shareholders. Glencore will pay $6.93 billion for a 77% interest in Teck's coal assets, with Nippon Steel Corp. and Posco Holdings Inc. owning the rest. The acquisition is expected to close in the third quarter of next year.
Summary:
The Dash Lake property is located in northwestern Ontario, Canada and consists of 44 claims covering 815 hectares. The property lies within the Archean Savant Lake-Crow Lake greenstone belt and hosts shear-hosted gold mineralization associated with pyrite, arsenopyrite, and quartz veins. Historical drilling returned high-grade intercepts including 31.1 g/t gold over 1.35 meters. Soil sampling confirms anomalous gold and arsenic related to shear zones.
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Happy New Year from the Prospector team! In this week's Nugget we're digging into the latest mining news, social trends, and tech reports.
Get the latest mining industry news, trends, and data reports in this week's Nugget!
