Seabed mining approved in New Zealand despite environmentalists’ concerns

By analyst By Valentina Ruiz Leotaud New Zealand’s Environmental Protection Authority approved Trans-Tasman Resources’ application to mine iron sands from the seabed of South Taranaki Bight, located 22 kilometres to 36 kilometres offshore from Patea. The approval means that Trans-Tasman is now allowed to recover resources from the country’s Exclusive Economic Zone. In detail, the company wants to dig up 50 million tonnes of the seabed a year, for 35 years, to get five million tonnes of iron ore per year. The South Taranaki Bight has reported JORC iron sand mineral resources of 1,698Mt at 11.16% Fe2O3 for the Mine Area and adjacent Kupe Blocks at a 3.5% Davis Tube Recovery cutoff and a further 2,137Mt at 9.66% Fe2O3 for Stage 2 Block mine areas. The sand will be processed aboard a purpose-built 345-metre integrated mining vessel, whose construction TTR would start soon. The company expects to begin exporting iron … Continue reading

Former U.S. Senator joins Caterpillar Board of Directors

By analyst By Editor Caterpillar (NYSE: CAT) announced Thursday that Kelly Ayotte has been selected to join its board of directors and, within the board, the Public Policy & Governance Committee. Ayotte is a former U.S. senator representing New Hampshire from 2011 to 2017. She also served as New Hampshire’s first female attorney general from 2004 to 2009 and, prior to that, she was deputy attorney general and chief of the Homicide Prosecution Unit in the same state. According to CAT’s press release, as a member of the Senate’s Commerce Committee, Ayotte played a key role advocating for policies and laws to support skills training for high-tech manufacturing jobs and private-sector job creation. The 49-year-old Republican was also actively engaged in efforts to extend the Export-Import Bank, with the idea of supporting U.S. companies as they compete and export products around the world. “Kelly brings significant government experience to … Continue reading

Indian centenary iron ore mine goes solar

By analyst By Valentina Ruiz Leotaud Tata Steel has just inaugurated India’s first solar power project located at an iron ore mine. The 3-megawatt solar photovoltaic power plant is situated at the company’s centenary Noamundi mine, in the state of Jharkhand. According to a press release, the solar plant will help the country’s second largest steel maker replace a part of the electricity it consumes from both the grid and from diesel-based generators. It is also expected to help reduce CO2 emissions by about 3,000 tonnes per annum. All aspects of the project, from commissioning to building it, took place within the Tata industrial conglomerate.Tata Steel came up with the idea and will purchase the power at a fixed tariff, while Tata Power Solar and Tata Power Trading Company executed it. The plant uses modules that convert solar radiation into electricity. This energy is then transformed through inverters to AC … Continue reading

Iron ore price makes fresh high above $70

By analyst By Frik Els The Northern China import price of 62% Fe content ore jumped 1.6% on Thursday to exchange hands for $76.10 per dry metric tonne according to data supplied by The Steel Index. It’s the highest price since early April and the steelmaking raw material is now trading 43.6% up from its 2017 lows struck in June. Iron ore’s latest rally comes after Shanghai rebar futures – the world’s most traded steel contract – jumped to the highest level since March 2013 on Thursday reaching 4,016 yuan ($601) a tonne on Thursday. There isn’t a lot of high-grade around and Chinese mills are preferring high-grade because they want to produce more with steel prices rising Chinese traders are worried about a steel supply crunch as Beijing steps ups efforts to crack down on polluting plants. The country wants to cut output by as much as 50% during … Continue reading

For Cryptocurrencies, the Future is Now

By Louis Basenese This post For Cryptocurrencies, the Future is Now appeared first on Daily Reckoning. Yesterday, I presented the case that you can make a fortune in cryptocurrencies. I don’t think I’ve ever seen anything quite like it in my career. And the good news is that you don’t need to know anything about Bitcoin or any other cryptocurrencies to take part in the bonanza. In fact, what I call “penny” cryptocurrencies are one of the last legal ways for small investors to grow rich, starting with a small initial grubstake. Consider… On Friday, March 17, 2017, a tiny little cryptocurrency called EnergyCoin was trading at a little over one third of a penny. The exact price was .003578 of a dollar. Then a powerful super-spike struck and over a 99-day period EnergyCoin skyrocketed to 34 cents. That’s a whopping 9,566% gain — enough to turn a $1,000 investment … Continue reading

Exclusive KE Report Commentary – Thu 10 Aug, 2017

By Cory Trader Vic: The Markets Are Shaky Due To More Than Just War Talk We have been talking a lot about the war chatter moving markets. I continue this discussion with Trader Vic and assess what other reasons the markets could be moving down for. He also shares his strategy for holding certain investments into the weekend. Download audio file (2017_08_10-Trader-Vic.mp3) …read more Source:: The Korelin Economics Report The post Exclusive KE Report Commentary – Thu 10 Aug, 2017 appeared first on Junior Mining Analyst. … Continue reading

What Is the Ultimate Trump Trade?

By Jawad Mian This post What Is the Ultimate Trump Trade? appeared first on Daily Reckoning. We are falling head over heels in love with Tesla (NASDAQ: TSLA) — the ultimate Trump trade in our opinion. Tesla’s stock is up 66% this year and nearly 89% since the U.S. election, surpassing General Motors to become the most valuable U.S. automaker. To the extent that President Trump’s economic nationalism prioritizes the creation of U.S. jobs and valuable, domestic high-tech manufacturing industries, we believe Tesla stands at the epicenter of that. The company employs 25,000 workers in the U.S. and could easily double that as it ramps up production for its new Model 3 and expands its manufacturing facilities in New York and Nevada. About 83% of Tesla’s employees, who are spread across its car and battery manufacturing plants, are in the U.S. The strategic relationship between Elon Musk, Peter Thiel and … Continue reading

What Is Ethereum, and Should You Invest In It?

By Samuel Taube Our economy could not exist without rules. A simple debit card transaction would be impossible without the existence of complex contracts, financial institutions and accounting techniques. But these essential protocols are only as trustworthy as the humans who maintain them. And as we all know, humans aren’t perfect. Accountants at Enron and WorldCom created billions of dollars in imaginary shareholder value. More recently, Wells Fargo’s account executives opened millions of bogus accounts without the consent of their clients. Today, a new and fast-growing cryptocurrency project is looking to eliminate the destructive effects of “bad apples” like these. It’s called Ethereum, and it makes its predecessor, bitcoin, look downright primitive by comparison. What Is Ethereum? When you saw the word “cryptocurrency” in the last paragraph, your mind probably went straight to bitcoin – the stateless, bankless currency we’ve written about before. On a surface level, Ether (the digital … Continue reading