Dig into the latest technical reports, mining industry news, and our thoughts on Space Mining in this weeks Nugget!
Think Space Mining Is Sci-Fi Fantasy? 🚀
New advances are bringing this pursuit closer to reality, with the potential to solve the Earth's sustainability problem.
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USGS Study Highlights Potential Of Significant Critical Mineral Resources In The Western U.S.
The report analyzed the potential for critical mineral resources in the Western United States, focusing on deposits related to subduction of tectonic plates. It estimated the concentrations of minerals like antimony and tellurium in copper processing streams, suggesting import reliance could be reduced by improved recovery during copper refining.
The Future Of Mining Might Be Smaller Than You Think
Biomining, which uses bacteria and microorganisms to extract metals from ores and mining waste, is a potential solution to meet rising demand for metals like copper for the green energy transition. Biomining expert Nadia Mykytczuk explains how it works and its environmental and economic benefits. Projects like the Mining Microbiome Analytics Platform aim to accelerate biomining growth by sharing microbial genetic data across sites. If biomining can scale up sufficiently, it could help transform unsustainable traditional mining practices and give new life to the billions of tonnes of accumulated mining waste.
Lithium Producers Stay Bullish On EVs Despite Growing Headwinds
Amid recent drops in lithium prices driven by concerns over slowing global electric vehicle adoption, major lithium producers, including LG Energy Solution, General Motors, Honda, and others, remain optimistic about long-term demand for the battery material. While some have trimmed their EV expansion plans due to rising interest rates and supply concerns, the demand for lithium is still expected to rise this year. Lithium producers see the current market volatility as short-term challenges and believe that electrification will continue to grow, emphasizing that the bearish sentiment is temporary, and demand remains robust.
Gold Production Goes Nuts As All Time Gold Mining Record Nears And Long-Term Road Looks Solid
The price of gold currently stands at $1,989 per ounce in strong US dollars and $3,093 per ounce in relatively weaker Australian dollars. Although gold's performance remains robust, it has seen a slight decline from the previous week, falling short of a new all-time high in Australian dollars. Some analysts have suggested a "softening" in gold's recent momentum, citing factors such as the US labor market showing signs of losing steam. Despite this, the gold market is still holding below $2,000 per ounce but has experienced a small uptick in response to the latest labor market data. The World Gold Council's Gold Demand Trends report for Q3 indicates strong global demand for gold, with potential for an all-time high in gold production this year, while central banks continue to show strong interest in acquiring gold. Jewelry demand has softened due to high gold prices, and the investment landscape remains mixed.
Summary:
The Lomero Poyatos Project is a polymetallic deposit located in the Iberian Pyrite Belt in southern Spain. It contains gold-silver-copper-lead-zinc mineralization hosted in volcanogenic massive sulfide lenses. As of July 2023, the project has indicated resources of 7.73 million tonnes at 2.27 g/t gold, 25 g/t silver, 0.66% copper, 1.03% zinc, and 0.46% lead. Inferred resources stand at 3.45 million tonnes at 1.86 g/t gold, 22 g/t silver, 0.29% copper, 1.18% zinc, and 0.53% lead. A total of 146 core holes have been drilled to date.
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The prospects of space mining are closer than ever before, but challenges remain. Discover the opportunities and obstacles of mining in space and how...
This week we're digging into the latest mining news, social trends, and sharing our Mining Futurist Community on LinkedIn!
In this week's Nugget we dig into the latest industry news, how to use Ai for mining reports, and space mining!
