Palladium settled at its highest price in more than a decade as a mining strike in South Africa continues to pinch production of the metal.
Palladium for September delivery rose $5.60 to settle at $860.15 on Wednesday. That's the highest settlement price since February 2001, according to FactSet data.
Negotiations to end the nearly five-month strike ended earlier this week without an agreement. The strike started Jan. 23 and has squeezed supplies of the industrial metal, which is used to make catalytic converters that filter car exhaust.
WHITE PINE, Mich. (AP) — A way of life dating back more than a century appeared over in Michigan's Upper Peninsula when the last copper mine closed in 1995, idling more than 1,000 employees and turning this once-thriving company town into a forlorn outpost.
Now a Canadian company is planning a new mine at the site a few miles from Lake Superior, where screeching gulls hover over empty buildings and parking lots are littered with broken glass. If Highland Copper Co.'s plans go forward, the area will be astir once more as underground ores are blasted, hauled to the surface and crushed at a mill to extract valuable minerals.
White Pine's impending rebirth is almost miraculous to local residents who have borne the brunt of its demise, but it's part of something even bigger: a surprising resurgence of a mining industry that once was an economic pillar in three Upper Midwestern states but has been in serious decline.
FREETOWN, Sierra Leone (AP) — Sierra Leone's president has fired his chief of staff over his negotiating of a mining agreement and granting another company the right to log unlimited amounts of timber.
The statement from President Ernest Bai Koroma's office late Monday said Richard Conteh's negotiation of the mining agreement exposed the government to "potential loss of revenue." Conteh also allegedly issued an order allowing one company to export unlimited amounts of timber instead of the 30 containers stipulated by the president.
As chief of staff, Conteh, who was previously finance minister, was charged with overseeing projects initiated by the president and monitoring the performance of the other ministries.
In the latest developments in a dispute over copper exports, Indonesia has slammed Newmont Mining for declaring force majeure – which allows it to back out of contracts without penalty – and says the company isn’t moving quickly enough to comply with local regulations, The Wall Street Journal reports.
BILLINGS, Mont. (AP) — A group of investors that includes former Montana Gov. Brian Schweitzer is seeking $10 million from a mining company in exchange for access to a huge copper and silver reserve — a move the company's chief executive said Wednesday was "extortion" and included a threat to stir up negative publicity for the project.
Schweitzer, who has hinted at a 2016 presidential run, rejected the accusation and said he had been making a good-faith effort to resolve the dispute with a cash and stock settlement.
SIOUX FALLS, S.D. (AP) — A federal panel has lifted a temporary hold on the operating license for a proposed uranium mine in western South Dakota.
The Atomic Safety and Licensing Board in late April issued the stay on the U.S. Nuclear Regulatory Commission license granted to Powertech Uranium Corp. The stay was to ensure historic and cultural sites in the Black Hills aren't damaged by work at Powertech's proposed Dewey-Burdock mine near Edgemont.
JUNEAU, Alaska (AP) — A group seeking to develop a massive gold-and-copper prospect near the headwaters of a world-premier salmon fishery in Alaska is suing the U.S. Environmental Protection Agency for taking steps that could result in development being restricted or prohibited.
The Pebble Limited Partnership alleges in its lawsuit that the EPA exceeded its authority when it initiated the rarely used process under the Clean Water Act after concluding that large-scale mining in the Bristol Bay watershed posed significant risks to salmon. Pebble fears the agency will kill the project before mine plans are finalized or it's evaluated through the permitting process.
SIOUX FALLS, S.D. (AP) — A company proposing a uranium mine near Edgemont needs better studies to ensure that its operations won't hurt cultural and historic sites in the Black Hills, an attorney representing the Oglala Sioux Tribe said Tuesday.
Three administrative judges of the federal Atomic Safety and Licensing Board listened to telephone arguments on its April decision to put a temporary hold on the U.S. Nuclear Regulatory Commission operating license for Powertech Uranium Corp.
ARLINGTON, Va. (AP) — The U.S. Mine Safety and Health Administration is reporting that eight miners died in mine accidents in the first three months of 2014, three in coal mining accidents and the rest in metal and other mines.
Joseph Main, the assistant secretary of labor for mine safety and health, says they've seen a spike in deaths thus far in the second quarter, primarily in metal and other non-coal mining.
Since October, there have been 19 mining fatalities.
It’s expected that the Pebble Partnership will make a formal response Tuesday to the Environmental Protection Agency’s decision to use the Clean Water Act to hold up the permitting process for the copper and gold mine, The Hill reports.
Oil was mixed Friday, with an estimate of a stockpile build in Cushing sending West Texas Intermediate crude down 49 cents to $45.83 a barrel on the Nymex, while the death of Saudi Arabia’s King Abdullah pushed Brent 47 cents higher to $48.99, Reuters reports.
Hit by the slump in oil prices, contractor Hercules Offshore is retiring five more Gulf of Mexico rigs, a second round of such action, and also is taking $117 million in fourth quarter write-offs, FuelFix reports.
A draft final report from the U.S. Chemical Safety Board into the fire at a Chevron refinery in Richmond more than two years ago –- to be presented at a public meeting next week -- blames problems with regulations, the company’s safety culture and also its emergency response crews, the San Jose Mercury News reports.
Even though GOP leaders like Sen. James Inhofe, R-Okla. and new chair of the Senate Environment and Public Works Committee, say they would be willing to look at reform of the Clean Air Act, such an overhaul would be a long shot at best, say lobbyists and industry figures, E&E reports.
The U.S. is a few years away from President Obama’s goal of seeing 1 million electric vehicles on the road, Energy Secretary Ernest Moniz told The Detroit News in an interview, saying the costs are still too high.
On a visit to the X-Games in Colorado, Gina McCarthy joined Olympic snowboarders to highlight the danger climate change poses to winter sports and the mountain towns that host them, the Aspen Daily News reports.
The U.S. special representative for the Arctic, Adm. Robert Papp, says he has discussed with Disney using characters from the movie Frozen to educate the public about the dangers climate change poses to the Arctic, National Journal reports.
A compromise about burying parts of the SunZia transmission line between New Mexico and Arizona underneath part of the White Sands Missile Range has led to a formal agreement about the project, to be announced Saturday by Interior Secretary Sally Jewell, the Albuquerque Journal reports.
Legislation being discussed in Vermont would discourage the practice of utilities collecting renewable energy credits for reducing fossil fuel use and then selling them on to firms out of state, the Burlington Free Press reports.