Weekly Nugget
Welcome To June!
We dug up 5 exciting events in mining this month, including The Canadian Mining Expo and International Day of Women in Mining!
Dig into our take on NIMBYism and learn about the BHP Xplor Global Accelerator Program in this weeks Nugget!
🌤️ Wake Me Up When September Ends
Summer has come and passed … Well, not quite. I’m not sure about you all, but for the Prospector team it feels like things are really starting to heat up! We recently had a great discussion on “NIMBYism” for our Monthly Roundup, and today we have two exciting webinars learning about the BHP Xplor program that you don’t want to miss! On top of that- fall conferences are starting, and those much anticipated drill results are flowing in! Grab your coffee and let’s dig in!
Jess Scanlan
Head of New Media
🔥 What's New
🚨 Today! 🚨 Could you use an extra $500k for your exploration program?
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Join us today to learn more about BHP Xplor - a unique, six-month accelerator program for early-stage explorers looking to fast-track their geologic concepts and become investment-ready. We have two webinars so you can choose what best fits your schedule!
September 6th | 9am ET | 9pm AWST | GMT-4
September 7th | 9am AWST | 9pm ET | GMT+8
Learn More & Apply For BHP Xplor
🎧 On The Rocks
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📰 In The News
How To Fuel An Energy Transition With Ecologically Responsible Mining
As the renewable energy transition relies on mining more raw materials, recent climate and biodiversity conferences highlighted the need to align their agendas and manage trade-offs. While mining companies make "nature positive" commitments, clear guidance is required to avoid irreversible biodiversity losses. Key actions proposed include improving impact mitigation across supply chains, avoiding mining biodiverse ecosystems, restoring degraded sites, and managing mineral supply chains to limit high-impact mining. Implementing these solutions can enable a responsible energy transition while optimizing conservation outcomes, though broader discussion is still needed around approving mines despite biodiversity impacts.
MSHA Impact Inspections Uncover Hundreds Of Mine Safety Violations
The U.S. Department of Labor's Mine Safety and Health Administration conducted impact inspections at 15 mines across 12 states in July 2023, issuing 288 violations including 82 classified as significant and substantial. In total so far in 2023, MSHA’s impact inspections have identified 1,723 violations, including 493 significant and substantial and 23 unwarrantable failure findings. MSHA says the violations reflect ongoing safety issues it has worked to highlight through alerts and interventions.
Gold Climbs As More Weak U.S. Data Boots Fed Rate-Pause Bets
Gold prices rose to their highest level in nearly a month on Wednesday following the release of weak U.S. economic data, including GDP and job openings figures. The weak data suggests the Federal Reserve may pause its interest rate hikes, which is supportive for gold. Prices were further boosted by a drop in Treasury yields and the U.S. dollar. Investors are now awaiting additional key data on inflation and jobs later this week which could influence the Fed's rate hike plans and future direction for gold.
Taliban Say They Have Signed Mining Contracts Worth $6.5 Billion In Afghanistan
Afghanistan's Taliban government announced Thursday that it has signed seven mining contracts worth $6.5 billion with local companies, some backed by foreign partners, to extract iron ore, lead, zinc and gold. The deals aim to create jobs and boost the struggling economy, but experts say realizing mining operations could take years due to the complexity. The Taliban are banking on Afghanistan's vast mineral resources to fund the country after most international aid was cut off following their takeover last year. However, fully developing the mining sector requires proper frameworks and infrastructure, presenting challenges for the Taliban government.
CSM Warns Of ‘Grey Tsunami’ Of Mining Industry Retirements
The mining industry is facing a critical shortage of skills and talent to meet massive projected demand for copper and other minerals essential for energy infrastructure and electric vehicles. Experts warn that global production is not keeping pace with future needs, exacerbated by a "grey tsunami" of retirements, declining enrollment in mining programs, and opposition stunting new projects. However, opportunities exist to rebuild the workforce and usher in a new generation of innovative, transparent, stakeholder-engaged leaders.
AI Core Analysis Boosts Mineral Discoveries
Canadian company GeologicAI is using artificial intelligence to analyze mining core samples, aiming to boost mineral discoveries. Backed by Bill Gates' fund, it scans cores with multiple sensors and employs AI to extract detailed data invisible to the human eye. This multi-sensor approach is part of a growing mining industry trend toward adopting AI to improve discoveries and efficiencies.
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❓Prospector Poll (Anonymous!)
Should there be fewer gold mining projects in the world?
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:
Which metal do you think will have the biggest supply gap by 2025?
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