Weekly Nugget
How to use ChatGPT for tracking drill results in real time
We dig into the latest industry trends, insights, and data in this week's Nugget.
This week, we're digging into new technology and amazing innovation going on in the Mining Industry!
- 🗨 You Might Want To Sit Down For This One!
- 🔥 What's New
- 🎧 On The Rocks
- 📰 In The News
- ❓ Prospector Poll
🗨 You Might Want To Sit Down For This One!
Grab a seat, buckle up, and put a lid on your coffee - we have an exciting Nugget this week for you! One of my favorite trends in the mining industry right now is the amazing technology and innovation in the works. The industry is buzzing with new ideas and thoughts while changing how mining interacts with communities and the Earth itself. Positive change is in the air; I can feel it! One of my favorite parts of the week is drafting this newsletter, sorting through the latest news and happenings, and sharing it with all of you #MiningFuturists! So, as always, I hope you enjoy the latest Nugget!
Jess Scanlan
Head of New Media
🔥 What's New
🚨 1 Week! 🚨 August Monthly Mining Roundup
The Prospector team is excited to be hosting our latest monthly mining roundup, with a special guest! We will be joined by Ryan Sistad of Better In Our Back Yard, there’s your hint on this month's theme! This is a discussion you won’t want to miss!
“Beyond the Hype: How Technology Can Drive Mining Operations’ Performance”
Prospector CEO, Emily King, recently moderated a panel discussion featuring industry experts to explore the role of technology in optimizing mine performance, safety, and costs
🎧 On The Rocks
📰 In The News
Now Open: BHP XPlor Applications!
BHP Xplor 2.0 is now open for applications! BHP Xplor is a unique, six-month accelerator program for early-stage explorers looking to fast-track their geologic concepts and become investment ready. BHP Xplor’s hands-on exploration curriculum combines one-to-one business and technical coaching with world-leading masterclasses. If you’re interested in applying or learning more about the application process, click the button below!
More Than 50 Firms Want In On Chile’s New Lithium-Mining Model
Chile, home to the world's largest lithium reserves, is developing a new public-private model to boost production and meet surging global demand for the metal used in electric vehicle batteries. The government plans to take a controlling stake in strategically significant lithium operations while allowing private firms to retain control of non-strategic projects. Over 50 international mining companies have expressed interest in the model as Chile works to identify new extraction areas and establish bidding rules for exploration and mining contracts expected to be offered in early 2023.
Miners Face ‘Considerable Challenges’ Meeting Demand From US Climate Law
A new report warns that the mining industry faces considerable challenges meeting larger-than-expected demand for copper, nickel and other metals needed for electric vehicles and renewable energy, which has surged 12-15% since the U.S. Inflation Reduction Act was signed last year. The IRA's incentives are fueling billions in new mining projects, but permitting issues hamper domestic production, meaning most metals aside from lithium will likely need to be imported. Overall, the IRA is successfully spurring investment but strains on metal supplies are growing as the energy transition accelerates, underscoring the need for more mining reform and supply security efforts.
Miners Are Optimistic On Gold, But Does The Market Have Other Ideas?
Lithium, rare earths, and metals for electric vehicles dominated the recent Diggers and Dealers mining conference, but gold miners also expressed bullishness on prices heading into 2024 as rate hikes potentially ease. However, gold has struggled lately, unable to break $2,000/oz and falling below $1,900/oz this week as yields rise, making non-interest bearing gold less attractive. Equity valuations lag the gold price, which could drive more consolidation. Meanwhile, billions were wiped from Australian materials stocks as weak Chinese economic data weighed on base metals like nickel and iron ore, which remains above $100/t but could fall to $75-80/t by 2024 according to an RBC forecast, as production curbs lead to a large surplus.
Green Energy Transition Doesn’t Need To End Coal Mining?
As coal mining declines in Utah's Carbon County, the community is undergoing an economic transition, facing challenges like job losses, tax hikes, and rising energy costs. In response, Price is turning to solar power, welcoming new advanced manufacturing that retrains coal miners, and exploring ways to repurpose coal through innovation. Although the future remains uncertain, the county is actively working to redefine itself and transform its economy as dependence on coal wanes.
📱 Trending On Social
❓Prospector Poll (Anonymous!)
What do you think are the main causes of “NIMBYism” (not in my back yard) for mining and mineral exploration?
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:
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