Kazatomprom Faces Delay In Production At Sulphuric Acid Plant
Kazatomprom has announced a delay in the commencement of production at the TQZ LLP facility, which is intended to produce the sulphuric acid necessary for uranium production, pushing the timeline from 2026 to 2027. This delay is attributed to restructuring procedures and approval delays for project design documentation. “Considering the restructuring procedures, as well as […]
Can Canada Cut Rates Even As the US Holds Steady?
Bank of Canada Governor Tiff Macklem addressed the Canadian legislature’s finance committee on Thursday, discussing the central bank’s ability to cut interest rates while the Federal Reserve maintains elevated levels. Macklem’s testimony came amid concerns that a series of rate cuts by the Bank of Canada, combined with the Fed’s decision to keep rates steady, […]
Dominion Energy Faces Unprecedented Power Demands from AI-Driven Data Centers
Electricity demand in Northern Virginia is surging to unprecedented levels. Dominion Energy Inc (NYSE: D) CEO Bob Blue said at the company’s first-quarter earnings call that Dominion has been receiving requests from data center developers to provide “several gigawatts” of electricity. The increasing demand for electricity is primarily driven by the growth of artificial intelligence […]
Using WhatsApp To Jack Up Oil Prices? FTC Accuses Scott Sheffield of Price Collusion With OPEC
The Federal Trade Commission (FTC) has unveiled allegations of collusion within the oil industry, suggesting that certain key players worked to artificially inflate oil prices through coordinated limitations on drilling activities. The commission’s complaint sheds light on clandestine communications, including the use of texts and WhatsApp messages, purportedly aimed at manipulating gasoline prices. Among the […]
Sponsored · Selkirk Copper Mines
Gazprom Sees First Annual Net Loss In 25 Years As Flows To Europe Fall To Lowest Levels In 5 Decades
Gazprom Group, Russia’s state-controlled gas giant, reported its first annual net loss since 1999, amounting to 629 billion rubles ($6.84 billion) in 2023. The loss is attributed to falling shipments to Europe and lower fuel prices, a stark contrast to the net income of 1.23 trillion rubles in 2022. The company’s shares fell by up […]
Sandstorm Gold Monetizes Assets For $21 Million Cash, Royalty Retention
Sandstorm Gold (TSX: SSL) has monetized several non-precious metals assets in an effort to deleverage its balance sheet. The assets were sold in a package deal with Evolve Strategic Element Royalties, a private operator that is led by two executives that previously served with Nomad Royalty Company. The asset package sold by Sandstorm includes six […]
Canopy Growth Raises US$50 Million Via Convertible Debenture
Canopy Growth (TSX: WEED) is again returning to the trough with their hands out. The company this morning indicated they will again be raising funds, after having conducted an upsized financing in January. True to form, Canopy is raising the funds from a single institutional investor, with the financing expected to result in US$50 million […]
WSJ Cuts Hong Kong Editorial Staff, Expands Singapore Team
The Wall Street Journal has announced major changes to its Asia operations, including staff cuts at its Hong Kong bureau and a shift in focus to Singapore. Editor-in-chief Emma Tucker revealed in a memo that the newspaper is following the path of many companies it covers, as it adapts to the changing business landscape in […]
Sponsored · Cambria Gold Mines
Turkey To Halt All Trade With Israel
Turkey has halted all trade with Israel, escalating tensions further between the nations amidst the ongoing conflict in Gaza. This decision, not yet formally announced by Ankara, follows President Recep Tayyip Erdogan’s intensified critique of Israel, aligning with his efforts to rally conservative domestic support. The cessation of trade, valued at $6.8 billion in 2023—primarily […]
Breakfast Commodity Prices Surge, Outpacing Broader Markets
eToro revealed in a recent article that their proprietary breakfast commodity price index has experienced a substantial 54% increase over the past year, significantly outpacing the broader commodity markets. The surge has been attributed to weather-driven supply disruptions affecting key ingredients such as cocoa, orange juice, and coffee. They suggest that these price hikes will […]