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Yukon government takes assessment board to court after it recommends against mining project in Peel watershed – CBC.ca

North

Posted: June 01, 2023

The Yukon government is taking the territory's environmental and socio-economic assessment board to court after it recommended against a proposed mining exploration project in the Peel watershed.

In a petition filed to the Yukon Supreme Court Monday, the government alleges the Dawson City-area office of the board, commonly referred to as YESAB, didn't have enough information fora fair, thorough assessment of the Michelle Creek project.

The project is spearheaded by the Vancouver-based Silver47 Exploration Corp., which is proposing to do five years of exploration work on its Michelle property. The property is located about 120 km northeast of Dawson City near the northern tip of Tombstone Territorial Park and on the traditional territories of the Tr'ondk Hwch'in and the First Nation of Na-Cho Nyk Dun.

It was the first project in the Peel watershed to go through a YESAB assessment since the Yukon and First Nation governments finalized the regional land use plan in 2019.

The YESAB Dawson City Designated Office recommended against the project last year, saying in an evaluation report that it was "likely to have significant adverse effects in or outside Yukon that cannot be mitigated," particularly on wildlife and First Nation wellness.

The government is asking for a judicial review of the assessment and for the court to quash the recommendation on the grounds that it's "unreasonable." It also wants the case remitted to the Dawson office for reconsideration and a declaration the office "failed to observe a principle of natural justice or procedural fairness."

It's the first time the government has sought a judicial review of a YESAB assessment.

Under the YESAB process, designated offices assess projects and offer recommendations on whether they should proceed. Decision bodies, typically federal and territorial government representatives, may choose to accept, reject or vary those recommendations. The Yukon government doesn't have an option outside of court to get an office to re-do an assessment.

YESAB has not yet filed a reply to the petition and the matter has yet to go before a judge.

The Yukon government declined to provide anyone for an interview, citing the ongoing court case.

YESAB's Dawson regional operations manager, Don McPhee, also declined to speak to CBC News for the same reason.

Representatives for Silver47, Tr'ondk Hwch'in and the First Nation of Na-Cho Nyk Dun, which are not directly involved in the legal matter, were not immediately available for comment.

In an email, Yukon Department of Energy, Mines and Resources spokesperson John Thompson wrote that the government didn't have any discussions with Silver47 before launching the legal action, and also doesn't "have a view on what the recommendation from the designated office on this project should be."

"Our concern is ensuring that the project is properly assessed before a decision document is issued," Thompson wrote.

"As a decision body, the Yukon government depends on assessors providing a complete picture of a proposed project's potential impacts and presenting this information in a clearly reasoned way," he also wrote.

"From our perspective, the concerns we've identified impede our ability to make an informed decision on the project."

The petition specifically points to a lack of baseline data provided by Silver47 during the assessment.

In its evaluation report, the Dawson office wrote that the company, despite requests from YESAB, didn't provide adequate information on existing sheep and caribou populations nor First Nations heritage resources.

Baseline data is meant to help evaluate a project's impacts on the environment. The Peel plan also contains a policy recommendation to "ensure adequate wildlife and habitat baseline data collection is completed prior to any development activities occurring" in the Peel.

The Dawson office concluded that the lack of baseline data meant Silver47's proposal did not comply with the Peel plan, and also that adequate mitigation measures to protect sheep and caribou couldn't be put in place.

The Yukon government petition claims that's unreasonable.

"Despite identifying that adequate baseline data was required to evaluate the Project and it had not been provided, the Designated Office completed the evaluation without it," the document says, arguing the Dawson office had the authority to require Silver47 to provide the data and to suspend the assessment until it was provided.

The government also claims the office didn't give the company notice that a higher standard of baseline data was required to comply with the Peel plan and due to the project's location within the Peel the projectcovers two "wilderness areas," which have interim protection from development, and one integrated management area, which allows for moderate development.

(Documents available on the YESAB registry show the Dawson office mentioned the Peel plan in several communications with Silver47, including a July 18, 2022 information request stating the Yukon and First Nations governments had provided comments indicating the company's previous responses were "insufficient in aligning with the goals and general management directions of the Peel Watershed Regional Land Use Plan.")

The petition also alleges the Dawson office "conflated" Sliver47's failure to provide adequate baseline data and therefore non-conformity with the Peel plan "with adverse project effects on First Nation wellness."

Representatives of two Yukon conservation groups who heavily advocated for the Peel plan said they would be following the case closely.

"My initial reaction was, I was startled, and then I scratched my head," Sebastian Jones, the Yukon Conservation Society's fish, wildlife and habitat analyst, said in an interview.

"And tell you the truth, I am still scratching my head."

Jones said he thought that it was a "fairly extreme measure" for the government to go to court on the matter, especially given that the YESAB Dawson office had given a recommendation the government has the power to reject or modify.

"Obviously, the Yukon government's very uncomfortable with the recommendation that YESAB made, presumably because it wants to send more positive signals to the mining community that, you know, despite regional land use plans, there's still business as usual for mining," he said.

Maegan Elliott, the conservation coordinator for the Canadian Parks and Wilderness Society's Yukon chapter, told CBC News she was "disappointed" the government chose to go to court and that she believed the onus for providing adequate data should fall on project proponents.

"I don't think it's really YESAB's job to be helping proponents along with this If the proponent had been prepared from the start that wouldn't have been an issue," she said.

"I'm hopeful that this isn't a pattern that starts developing for projects going through in the Peel," she added.

Jackie Hong is a reporter for CBC North in Whitehorse. She was previously the courts and crime reporter at the Yukon News and, before moving North in 2017, was a reporter at the Toronto Star where she covered everything from murder trials to escaped capybaras. You can reach her at jackie.hong@cbc.ca

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Why Bitcoin miners gloomy season is over – AMBCrypto News

Bitcoin [BTC] miners might have faced a challenging period, as several factors, including regulatory crackdowns and concerns over environmental impact, have created a long season of distress for the industry.

However, there are indications that this murky period may be near its end, with some mining stocks showing signs of strength and resilience.

According to IntoTheBlock, stock prices of the Mathent Patent Group and Riot Blockchain have outperformed BTC on a Year-To-Date (YTD) basis.

As of 1 June, Bitcoins performance rose 64.57%. Riot recorded a 253.98% increase while Mathents stock value increased by 186.26%. Consequently, this has pegged BTC back as the best-performing digital asset of the year a title it once held.

One reason for this turnaround is the increased revenue and fees that miners have recorded recently. This could be connected to the adoption of Bitcoin Ordinals.

Surely, the rise of BRC-20 tokens also had its impact since the number of transactions and minting on the Bitcoin blockchain also increased. It is noteworthy to mention that the factors highlighted above were not the only ones that have boosted the mining sector.

Rather, some of the mining firms have also taken steps to address the environmental concerns associated with the activity. This has resulted in the adoption of greener and more sustainable practices.

Not only does this help mitigate the negative environmental impact, but it also improves the public perception of the industry.

Interestingly, Glassnode data showed that the Fee Ratio Multiple (FRM) had decreased to 19.38. The FRM, calculated as the ratio of the total revenue and transaction fees, serves as a measure of the blockchains security when blocks disappear.

Since Bitcoins FRM was low, it means that the asset could maintain its security budget via miners revenue without depending on inflationary subsidy. Conversely, if the FRM was high, then miners would require block rewards subsidies to maintain revenue.

However, indications from the hash ribbon revealed that the worst was not yet over for miners. The metric uses the 30-day Moving Average (MA) to measure miners capitulation and identity buying opportunities.

When the hash ribbon switched from light red to dark red, then capitation could be considered over. But as of this writing, it was not yet there.

Meanwhile, the same metric indicated that Bitcoin may have offered a good buying opportunity. This was because the hash ribbon had entered the white-colored zone, indicating a price momentum switch from positive to negative.

Is your portfolio green? Check the Bitcoin Profit Calculator

Additionally, short-term holders still yearned for a BTC uptick despite its recent decline from its Q1 performance. According to Crazzyblockks CryptoQuant publication, the equilibrium level of the Spent Output Profit Ratio (SOPR) suggested the conclusion mentioned above.

Used as an indicator of macro market sentiment, the SOPR reflects the degree of realized profit and losses moved on-chain. The analyst noted,

These holders have shown a desire to be profitable and remain in the market, and the equilibrium level of SOPR data has recovered and improved every time it approaches and moves below the number 1 level, and we can say that these players still have interest and hope for price growth.

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Using ChatGPT and Bard in your company – MoreThanDigital English

Industrialization 5.0 does not only mean pattern recognition and automated knowledge generation, it also means that new tasks fall to humans when ChatBot technology is used. New roles arise for human employees when you consistently question everything, construct special cases, and make use of contextual knowledge logic and emotionality.

Humans will still be in demand, even if Sascha Lobo thinks: But we can already see the outlines of a change that is likely to be as large and intense as industrialization. Bots like ChatGPT are enabling AI in vest pockets. But just as with algorithms, its a matter of tracking down whats beyond the patterns and contextualizing that with humans when using the bot with AI.

For leaders, that means:

Getting to the bottom of such issues to strengthen the companys raison dtre and ensure market success means cultivating new forms of collaboration. Once problems and solutions to an (assumed) customer need are identified in a data-driven manner we soon need employee talent. But in their different roles they can offer as talents, not as a person with a task in a fixed organizational chart.

Data mining is no different than what bots like ChatGPT and Bard do. With two differences: its generic data from all the knowledge available online, this currently ends in 2021, and the bot crawls for probabilities and speaks and understands natural language.

So what a chatbot like ChatGPT gives us are statements based on the probability of which terms are empirically associated with which others. The low-threshold operation and multidimensionality of the possible solutions and answers enables a high degree of self-control of a company.

If it was previously necessary going beyond the use of Google to have ones own data programmed into an application with a specific purpose; here everything can now be designed oneself. In particular, if ones own data is also read in. This is still a bit complicated at the moment, but will be possible via API interfaces. ChatGPT can show much more than anecdotal knowledge, such as how a poem would sound in the style of Heinrich Heine. Such a bot can specifically do complex tasks. For example, a challenging learning unit can be created for a self-learning program in the company. True/false answers can be created; knowledge units created can be used as a basis for discussion for deeper understanding and reflection.

Actively using a chatbot is also becoming mandatory because, like Bard, they will increasingly specify their sources, should soon function in real time, will be integrated with clouds and Google Sheets and Adobe and so on. Still, bots provide statistical sense-making, but dont cover the exceptional cases and cant illuminate complex relationships. As the founder of the Swiss bot Open Assistent (which, by the way, also draws on data from the big guys, in addition to data created in-house), Jannic Kilcher says of this kind of support:

[It] lacks many things: a long-term memory. Or the ability to make logical inferences. It might be able to learn those from more data. However, theres not that much high-quality data on the web anymore. Whats still missing is direct interaction with the Internet and with the real world . ... He notes, on the other hand, that he still sees a role for humans: Even if they were given and machines thus became human-like intelligent, I would not expect mass unemployment, an Armageddon. Rather, I would expect a change in society similar to that brought about by the smartphone. We will become more productive, do things differently, some jobs will certainly become superfluous . . . (NZZ, 5/3/2023 translated from German).

Humans will form the machine-human interface, in that they will be able to ask the right questions and consider special cases in context, and they will be able to reflect on the environment. This means that additional reflection and consulting skills are needed to make the best use of AI. In particular, it will also be a matter of translating and compiling what is collected and done with the bots.

Although bots are already running and new applications are emerging by leaps and bounds, accompanying circumstances need to be considered and ultimately brought to consensus social regulation or at least social agreement. This concerns, for example

The range of applications for chatbots is growing with the inherent machine learning, but also with data uploaded by the user. Their added value is therefore constantly increasing.

Forget that you are entering new organizational territory with the use of ChatGPT as well as with the possible editing of your own data sets in the app, which must be complemented by an appropriate culture of appreciation, shared learning, and a thinking in terms of roles instead of tasks and functions. Old-style ways of working will stifle creativity rather than help it flourish.

For the application areas outlined, explore what the bot can deliver to you. Also be aware that what it says will differ each time. So its not about absolute truth, but approximations as probabilities that can help them in their business. Carefully distinguish what the bot can do for you and where custom implemented AI applications can serve you.

Ich helfe Firmen, die Risiken der Digitalisierung zu erkennen und zu meistern. Lsungen mit Ihnen zu finden, um ein attraktiver Arbeitgeber zu bleiben, sind meine Leidenschaft. Personal erwartet heute attraktive Arbeitsbedingungen, sei es Flexibiltt oder sei es Verantwortung tragen. Sei es, seine Vielfalt zeigen zu drfen. Transfer von Wissen ist die Herausforderung, beim Halten und Gewinnen. Schauen Sie sich meine verschiedenen Beitrge und Plattformen an, um sich ein Bild zu machen von mir. Ich freue mich ein persnliches Kennenlernen!

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Stephen McHale Recognized as Smart Business Dealmakers … – PR Newswire

CLEVELAND, June 1, 2023 /PRNewswire/ -- Smart Business Network proudly announces Stephen McHale, CEO of UnifyWork, as one of the distinguished recipients of the 2023 Smart Business Dealmakers Dealmaker of the Year Awards.

This prestigious accolade celebrates exceptional business leaders who have demonstrated extraordinary expertise in dealmaking, mergers and acquisitions, and capital sourcing over the past 24 months. The selection for this honor recognizes the remarkable achievements and outstanding business acumen of the recipients.

"Stephen's visionary leadership and dedication to developing an equitable hiring technology platform is set to transform the employment experience for both employers and job seekers," says Dustin Klein, Chief Content Officer of Smart Business Network. "His ability to raise $7.5 million in preferred equity is a testament to his innovative approach to talent attraction."

"I am humbled to be recognized as a Smart Business Dealmaker, and to be selected among such an outstanding group of executives," adds McHale. "While we're focused at disrupting the hiring process at UnifyWork, we're also really focused on empowering people with knowledge it's critical to building a good society. And if I can play a small part in helping our society thrive and be recognized by industry leaders for that effort I am truly grateful."

Stephen McHale serves as the Founder and Chief Executive Officer at UnifyWork, and he also acts as a Fund Advisor at Nirvana Healthcare Ventures. His extensive background includes notable roles such as Managing Director at 23 Bell, Chairman at Arrive Health, and Board Member at Axuall. With a focus on data mining and business intelligence-related ventures, Mr. McHale has left an indelible mark on the industry.

About UnifyWork:UnifyWork is the first workforce intelligence platform powering regional talent networks through its patented skills-based technology. The platform enables equitable hiring practices, and provides real-time data on job market supply and demand to help regions unleash their full economic potential. Headquartered inCleveland, OH, UnifyWork is a spin-out of UnifyLabs, a 509(a)3 non-profit founded in 2017, with the mission of powering inclusive prosperity. Learn more atunifywork.com.

About Smart Business:With over 30 years of experience, Smart Business Magazines, Events, and Books is dedicated to producing high-quality content, events, and marketing materials for a diverse audience of entrepreneurs and senior executives. The company focuses on showcasing successful CEOs and senior executives who exemplify innovative leadership, offering valuable insights and strategies for business growth and success. Through networking events and expertly managed programs, Smart Business facilitates meaningful face-to-face interactions and fosters valuable relationships among business leaders.

SOURCE UnifyWork

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TikTok’s threat to American data must be a top national security … – Washington Examiner

TikTok recently admitted in a letter to me that the apps source code can originate in China. This means there could be backdoors in the code that gives the Chinese Communist Party access to Americans private information. This is a major threat to our national security and to the data privacy of users.

Over the last several years, TikTok has taken young Americans, and the world, by storm. Yet what started as a platform for users to share short, light-hearted videos has rapidly transformed into a surveillance and data-stealing app manipulated by the CCP. Let me be clear: Americans using TikTok are putting themselves in harm's way. And allowing the CCP to continue having access to a data-mining app on our shores is a clear and present danger to our homeland security.

ALL EYES ON SWING VOTE MASSIE AS HOUSE PANEL TAKES UP DEBT CEILING BALL

TikToks parent company, ByteDance, a Beijing-based company, has well-known ties to the CCP. This is a problem because there is no separation between the regime and corporations in communist China. This relationship is even worse for tech companies in the regime. According to Chinas so-called national security laws, companies based in China are expected to turn their data over to the CCP when asked for it.

If that isnt alarming enough, the red flags keep coming. Recently, the tech giants former head of engineering for U.S. operations claimed in a lawsuit that ByteDance has a culture of lawlessness and operates as a propaganda tool for the CCP. He also alleged that a committee of CCP officials oversees the companys apps to track how core communist values are being advanced. According to this former executive, this committee has access to all of the company's data even the data stored in the United States.

These concerns arent new. In a recent House Committee on Energy and Commerce hearing, my colleagues pointed out there are no legitimate safeguards to ensure the Peoples Republic of China isnt using TikTok to spread CCP propaganda, spy on U.S. citizens, or collect our childrens data.

ByteDance is working overtime to convince lawmakers that it doesnt work side by side with the CCP, but in reality, the two work hand in hand. ByteDance even tried changing the name of its subsidiaries to hide the CCPs involvement in TikTok but we arent falling for it.

This is a topic Democrats and Republicans can agree on. Neither side of the aisle wants to see the CCP manipulate our young people or put their privacy and data at risk. And we are all concerned about the risk TikTok presents to our national security.

Both FBI Director Christopher Wray and Director of National Intelligence Avril Haines have expressed grave concern over the CCPs ability to target American audiences, especially younger ones, with communist information campaigns. TikTok has millions of users all over America, and over 70% are under the age of 35. Part of TikToks user agreement allows access to users phone contacts. How many of your children is the CCP monitoring?

As the chairman of the Homeland Security Committee, it is my job to ensure Americas cyber border is protected. Thats why I sent a letter to Shou Zi Chew, the CEO of TikTok, demanding to know more about where TikToks source code is developed, who in China has access to that code, and if there are any back doors to this code that would enable CCP officials to access the servers that house the data of Americans.

TikToks response to my letter confirmed my concerns. It stated that TikTok has software engineers throughout the world, including the United States and China. The letter went on to say that using a global engineering workforce to write software code is not unusual. While this might be the case, it isnt good enough for me. We need assurances that engineers affiliated with the CCP will have no role in writing TikToks source code. Anything less than this is unacceptable.

Thats why I introduced my China Technology Transfer Control Act. This legislation addresses the CCPs growing technological threat against our national security by limiting what technology we export to China. We need more legislation like this that takes the threat of the CCP seriously.

If the CCP has access to Americans private data through TikTok, Congress must know about it. My advice is to delete TikTok from your devices, and your childrens devices, as soon as possible. If stealing your familys data isnt enough of a threat, the data of service members, government workers, and first responders in your contacts should be.

CLICK HERE TO READ MORE FROM RESTORING AMERICA

Mark Green is a U.S. representative for Tennessee and serves as the chairman of the House Homeland Security Committee and on the House Armed Services and Foreign Affairs Committees.

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Automation in Australia: how the future of mining could change – Mining Technology

Lockdowns and social distancing measures induced by the Covid-19 pandemic saw global acceleration towards automated processes across almost all industries. In particular, automation in the mining and metals sector has been hailed by companies as central to safety and productivity improvements, as well as profit increases.

As one of the biggest mineral producers in the world, Australias mines are automating fast to keep up with internal and external competition. The country already boasts the largest population of autonomous mining trucks by some way; in 2022, it had a fleet of 706, up from 561 in 2021. This is four times more than Canada, who holds second spot with 177 trucks in 2022, with China sitting in third with 69.

Physical, or operational (OT), automation, such as driverless trucks and equipment, comes hand-in-hand with IT automation, which involves automated software processes and AI programming. Recent developments in both OT and IT automation have driven advances in mining production and efficiency, but questions remain as to how this will affect the mining workforce in the long-term.

A mixed fleet united

In January, Epiroc and ASI Mining announced the completion of a new autonomous haul truck solution for iron miner Roy Hills mixed fleet of 96 haul trucks. The new technology, now ready to commercialise after a two-year testing phase, is significant because it is interoperable and scalable regardless, leaving the technologyequipment manufacturer agnostic.

In theory, any company will be able to use it, removing the need for mining companies to commit to a single truck manufacturer for years, or even decades.

Eventually, the technology will be used to convert Roy Hills fleet of 96 trucks to driverless operation. Ten haul trucks have already been converted using on-board automation systems to navigate the mines virtual map and communicate with other vehicles and with a remote operations centre over 2,000km away in Perth.

According to Epiroc, the test fleet is meeting desired safety metrics. It is also hitting higher productivity targets than conventional manned trucks. The fleet works tirelessly, making them more efficient than vehicles operated by human workers, who need to take breaks. Autonomy replaces, as Rio Tinto put it in an explanation of its autonomous Gudai-Darri mine, the weary driver.

Connectivity underground

Elsewhere, Newcrest announced in February that it will begin trialling advanced 4G long-term evolution and 5G mobile technology underground at its Cadia Valley Operations in New South Wales, in an ongoing quest for productivity, efficiency, and safety. The trial network will be deployed in the next few months in partnership with Ericsson and Telstra Purple, utilising Ericssons private 5G solutions to assess cellular approaches to coverage and capacity needs.

It will also include the use of various 4G and 5G radio types, massive- and multi-user multiple-input-multiple-output antenna systems for advanced connectivity requirements, and signal booster technology, also from Ericsson.

The development reflects a growing focus within the mining industry on wireless connectivity as an extension of IT automation. Companies are continuing to embrace advancements in 4G and 5G to advance connections to robotic OT autonomy within mine operations. Autonomous trucks, for example, are dependent on wireless communications to function effectively because their software relies on sent and received data as well as GPS to navigate surface and underground tunnels.

A recent report has predicted that 5G in the mining industry will grow exponentially in the next six years, with strongest demand for the technology coming from the surface mining sector.

Drone operation and AI

Drone autonomy also relies on 4G and 5G connectivity to operate successfully. With the help of rapid advancements in AI, the application of autonomous drones in mining are aiding improvements to mining efficiency, accuracy and safety. Drones can provide visual and physical access to difficult-to-reach or unsafe parts of mines, as well as ariel views of mine sites, which are critical to mapping quickly and accurately. They can also monitor mining equipment and infrastructure for wear and tear, enabling timely maintenance and prolong equipment lifetimes, ultimately reducing costs for mining companies.

At a webinar session in March, CEO of Australian drone service Delta Drone International Christopher Clark explained how recent advancements in AI are impacting drone autonomy in the mining sector.

By combining drone autonomy and AI, a unique recipe begins to take shape, said Clark. We can detect people and vehicles by applying AI models tothermal imagery captured by drones. When combined with autonomousdrone-in-a-box solutionsin dangerous areas, it enables frequent drone flights that only activate when a vehicle or person is detected, presenting an exciting opportunity for drone autonomy and AI to collaborate.

Autonomous AI software also allows companies to integrate alarm monitoring systems into drones. This enables drones to autonomously take off from docking stations when an alarm is triggered, fly to precise, programmed locations, capture videos of a potential emergency, relay them back to the relevant command centre and return to the dock, all without the need for human interference.

Miner safety or worker shortage?

The mining sector has already suffered several environmental and human rights crises so far this year. Protests and strikes by workers, environmentalists, and indigenous communities over damage to local livelihoods, environmental harm, and poor working conditions continue to plague various mines globally. Recently in Australia, two miners at Dugald River mine in Queensland died while operating a utility vehicle that fell into a 25m-deep excavation hole.

Automation in mining is cited as a necessary step in reducing incidents such as this, principally by removing the need for humans to be present in dangerous situations. Certainly, the tragedy at Dugald River could have been prevented had the miners been absent from the vehicle in the first place. But beyond the potential safety benefits automation brings exists an entirely separate problem: now, there isnt enough work, and there arent enough workers.

A depletion in demand for machinery operators and labour workers brought on by automated equipment has led to a shift in the mining workforce. As the industry moves further towards automation, algorithms, and software development, a need for technically trained, or skilled, workers to use and improve new technology has emerged. According to McKinsey, the growing requirement for miners to be tech-savvy will result in an estimated 1 in 16, or around 100 million, workers globally needing to change jobs by 2030.

Simultaneously, mining companies are experiencing a growing shortage of skilled employees in the industrys expanding specialised departments, such as mine planning, process engineering and data science and automation. This trend is expected to continue, principally because mining is not currently an aspirational industry for young technical talent due to the sectors relatively poor ESG reputation. In Australia specifically, there has been an approximate drop of 63% in mining engineering enrolment since 2014.

So as automation improves production rates inside mines, it also hinders mining companies expansion capabilities as the skills required to use and maintain the technology become increasingly scarce. However, some districts are already planning ahead; the Queensland government announced in December a $3m workforce development plan to upskill the existing labour force in its mining sector in an attempt to combat the expanding skills shortage, and it remains to be seen how human and autonomous workers will be balanced in the future.

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The ‘Bitcoin President’ Advocates BTC as the Perfect Global Base … – Crypto News Flash

Source: Graeme Dawes - Shutterstock

The United States 2024 presidential race has been gaining more momentum as popular political figures enter the primaries for the Democrats and Republicans. Already, former United States President Donald Trump, current President Joe Biden, and environmental lawyer Robert F Kennedy Jr are all eyeing the countrys top position.

Arguably, the high adoption of the cryptocurrency market in the United States is expected to have a significant impact on the presidential winner next year. Moreover, more investors are worried about the increasing crypto regulations by enforcement in the United States that have chased several firms to overseas markets.

With crypto investors in the United States totaling more than 16 percent of the entire population, presidential candidates are more likely to lean on their side to win their votes as a block.

According to Robert F Kennedy Jr in a recent interview with TheStreet Cryptos Rob Nelson, Bitcoin is a way out of the ballooning inflation and can be trusted. The anti-CBDC presidential candidate noted that he may consider pardoning Silk Road founder Ross Ulbricht, who has been serving a lifetime imprisonment.

Meanwhile, the Democratic presidential aspirant highlighted that the United States Securities and Exchange Commission requires commissioners who are neutral on crypto as he added that Bitcoin holds intrinsic value.

One of the fundamentals of Bitcoin is that you can trust it,

Kennedy noted adding:

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nobody can manipulate it. Theres no human being that can manipulate it. What happens with Bitcoin is very, very democratic. Its all decided by all the miners in a democratic way and by algorithms that cant be manipulated.

Notably, Kennedy criticized the Federal Reserve for the rampant high inflation that has been feeding governments corruption and unwarranted spending. This comes as the Federal Reserve is preparing to launch a digital dollar through the FedNow platform.

The anti-CBDC presidential candidate noted that the government should not follow the path of China in controlling the lives of its people. In any case, Kennedy thinks the CBDC will significantly reduce the democracy and freedom that people have long enjoyed with paper money.

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They had people going out looking at the license plates, facial recognition, and doing data mining on these people to find out who they were, and then shutting down their bank accounts, so they couldnt pay their mortgages, they couldnt pay their alimonies, they couldnt pay for food for their families and children, he said. If a government has that power, it can turn us all into slaves overnight.

The adoption of cryptocurrency as a form of payment or investment assets seems imminent in global countries despite resistance from some regulators. Already, Hong Kong has enacted favorable crypto policies that favor the adoption of digital assets in the Eastern Asian markets. Additionally, the European market recently passed the Markets in Crypto-Assets Act (MiCA) legislative standards that favor digital assets adoption.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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PE backs off real estate; single deal powers metals and mining … – S&P Global

S&P Global Market Intelligence offers our top picks of global private equity news stories and more published throughout the week.

Private equity appears to be steering clear of the troubled commercial real estate sector.

Investments backed by private equity (PE) and venture capital in the sector totaled $3.51 billion in 39 deals globally between Jan. 1 and May 22, nearly a full five months. By comparison, in the first three months of 2022, investments totaled $6.30 billion across 79 deals.

What is holding private equity back? Questions about the future of the US office market are a large part of the answer. Blackstone Inc. CEO Stephen Schwartzman said during the company's first-quarter earnings call in April that US office vacancies were at all-time highs, causing investor sentiment toward the sector to turn "quite negative."

Ares Management Corp. CEO Michael Arougheti offered a similar assessment, describing the US office market as "severely challenged," not just by vacancy rates but also the higher interest rates that are adding stress on property owners. And the fallout is just starting.

"That market is going to have to go through a pretty significant period of repricing and deleveraging," Arougheti said.

Read more about recent private equity investment trends in the commercial real estate sector.

CHART OF THE WEEK: Apollo's Arconic deal powers surging metals and mining investments

One mega-deal is boosting private equity- and venture capital-backed investments in global metals and mining businesses to their highest quarterly total since at least 2020, according to S&P Global Market Intelligence data.

Alternative asset manager Apollo Global Management Inc. partnered with Irenic Capital Management LP, a hedge fund sponsor, on a $4.57 billion proposed buyout for Arconic Corp., a provider of aluminum products to the aerospace, transportation and construction industries.

On the strength of that single deal, private equity and venture capital investments in the metals and mining sector in the first five months of 2023 have already surpassed full-year total transaction values from four of the previous five years in the analysis.

TOP DEALS AND FUNDRAISING

Blackstone Inc. completed the acquisition of a majority interest in Copeland LP, formerly Emerson Climate Technologies, from Emerson Electric Co. for an upfront payment of about $9.7 billion. The deal values the refrigeration and heating, ventilation and air conditioning business at $14 billion.

The Carlyle Group Inc. will buy Meopta-optika, a Czech company specializing in industrial and handheld optical, optomechanical and optoelectronic solutions. Carlyle expects to close the deal later in 2023, subject to customary regulatory approvals.

Funds managed by Apollo affiliates agreed to acquire United Living Group Ltd. in a deal expected to close over the summer. The target company provides essential infrastructure, social housing maintenance and construction services in the UK.

Adams Street Partners LLC secured capital commitments of more than $3.2 billion for its secondaries investment program, including the close of its Global Secondary Fund 7.

MIDDLE-MARKET HIGHLIGHTS

Gyrus Capital SA will buy German healthcare equipment company LRE Medical GmbH from AIS Global, a KPS Capital Partners LP portfolio company. The deal is scheduled to close in the third quarter.

Vector Capital signed a deal to acquire IT solutions provider Riverbed Technology Inc., whose lenders will provide it with a new credit facility at deal closing.

IK Partners is providing capital to the Linxea-Irbis Group, pending regulatory approval. Linxea is an online platform for savings product distribution in France, and Irbis develops structured products distributed through a network of financial advisers, private banks and institutions.

SGT Capital LLC agreed to buy Elatec GmbH, a German developer of secure physical and digital access solutions, from Summit Partners LP.

FOCUS ON: HEALTHCARE

Trinity Hunt Partners LP bought a majority stake in Centricity Research, which provides clinical research services across more than 40 therapeutic areas.

Ardian invested in Mon Veto, a French independent network of veterinary clinics, to help the group's development in France and Europe.

Aurelius Growth Investments SARL bought a stake in Physiotherapy Christian Frei GmbH, a provider of physiotherapy, occupational therapy and logotherapy services. The German company operates eight locations in the greater Nuremberg region.

For further private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.

Continued here:

PE backs off real estate; single deal powers metals and mining ... - S&P Global

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FTSE 100 Closes Up 0.6% as Mining, Oil Stocks Gain on Hopes of … – Morningstar

The FTSE 100 Index closed Thursday up 0.6% to 7490 points, in line with global peers, as investors focus switched away from the U.S. debt ceiling toward the broader economic outlook amid increasing signs that inflation is slowing, CMC Markets UK chief market analyst Michael Hewson says in a note. The rebound in commodities supported miners and oil-exposed stocks, with Fresnillo closing up 4.5% and leading the index top raisers. Retailer B&M shares chased yesterday's gains and rose 3.8%, reaching its 13-month highs after its FY 2023 earnings report, followed by Melrose Industries, up 3.8%. Shares of the digital automotive marketplace Auto Trader were among the worst performers, down 3.4% after its FY 2023 report.

COMPANIES NEWS:

Auto Trader FY 2023 Pretax Profit Fell on Rising Costs; Names New Chairman Designate

Auto Trader Group said Thursday that fiscal 2023 pretax profit fell slightly on operating costs, although revenue rose on strong retailer revenue, and named Greggs's Matt Davies as chairman designate to replace Ed Williams.

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Pennon Group Swung to FY 2023 Pretax Loss on Inflationary Costs

Pennon Group said Thursday that it swung to a pretax loss in fiscal 2023 as inflation-driven power and financing costs weighed on its earnings.

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ITM Power Sees FY 2023 Revenue Beating Guidance, Loss Meeting Expectations

ITM Power said Thursday that it now expects fiscal 2023 revenue and net cash to exceed previous guidance, and its adjusted loss to meet expectations.

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Dr. Martens's FY 2023 Profit Slipped Despite Record Revenue; Plans Buyback

Dr. Martens said Thursday that its fiscal 2023 pretax profit slipped despite hitting record revenue, and that it plans to conduct a share buyback.

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ME Group Lifts FY 2023 Guidance After First-Half Pretax Profit, Revenue Rose

ME Group International said Thursday that it has raised its full fiscal-year guidance on the back of strong revenue and pretax profit growth in the first half of fiscal 2023.

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Quantum Blockchain Technologies Raises GBP1 Mln via Discounted Share Placing

Quantum Blockchain Technologies said Thursday that it has raised 1 million pounds ($1.2 million) via a discounted share placing and will use the money toward research and development, with a particular focus on its bitcoin mining machine learning algorithms and software product release.

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Duke Royalty 4Q Recurring Revenue Rose to Record High; Sees Further 1Q Growth

Duke Royalty said Thursday that its recurring cash revenue continued to grow to record levels in the fourth quarter of fiscal 2023, and that it expects further growth in the first quarter of the new year.

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Westminster Group 2022 Pretax Loss Narrowed as Revenue Rose

Westminster Group said Thursday that 2022 pretax loss narrowed as revenue increased, and that performance for the first quarter was ahead of its expectations.

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Rockfire Resources Raises GBP880,000 via Subscription for Greek Zinc Project

Rockfire Resources said Thursday it raised 880,000 pounds ($1.1 million) via a discounted subscription and that it will use the proceeds to start resource upgrade drilling at its Molaoi zinc project in Greece and an updated JORC mineral resource estimate.

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Clontarf Raises GBP350,000 in Share Placing

Clontarf Energy said Thursday that it has raised 350,000 pounds ($435,505) via a placing of shares at a price of 0.08 pence a share.

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Network International Gets Deadline Extension for Both Takeover Offers

Network International said Thursday that the U.K. Takeover Panel has extended the deadline until June 9 for bidders Brookfield Asset Management, and CVC Advisers and Francisco Partners Management to either make a formal offer for the company or walk away.

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Rotala Agrees to Depot Sale for GBP30.4 Mln

Rotala said Thursday that it has conditionally agreed to the sale of its depot in Bolton, England and most of the related vehicles for a cash consideration of around 30.4 million pounds ($37.8 million).

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Team PLC to Raise Extra Funds This Year; 1H Pretax Loss Narrowed

Team PLC said Thursday that it will need to raise extra funds over the next twelve months, and posted a narrowed pretax loss for the first half of fiscal 2023.

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Net Zero Infrastructure Plans Reverse Takeover of LINE Hydrogen; Shares Suspended

Net Zero Infrastructure said Thursday that it has signed a non-binding letter of intent to buy LINE Hydrogen (Australia) for an undisclosed consideration paid in new shares, and that its stock listing has accordingly been suspended.

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Avacta Group Buys Coris Bioconcept for Up to GBP10.4 Mln

Avacta Group on Thursday said it has bought Coris Bioconcept for up to 10.4 million pounds ($12.9 million).

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Chaarat Gold Signs Preliminary Investment Agreement With Xiwang International

Chaarat Gold Holdings said Thursday that it has signed a preliminary investment agreement and a strategic cooperation agreement with Xiwang International Company in respect to a potential equity investment of $250 million from Xiwang in the company.

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Grafenia Says Adjusted Payment Not yet Received From PFI After Subsidiary Sales

Grafenia said Thursday that it hasn't yet received an adjusted installment from PFI Group due Wednesday, part of a sale of Grafenia's subsidiaries Works Manchester and Grafenia Operations to the latter.

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Triad Group Appoints Charlotte Rigg As Deputy Chair

Triad Group on Thursday named Charlotte Rigg as its deputy executive chair.

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More Acquisitions Shares Dive as Trading Resumed After Failed Megasteel Takeover

Shares of More Acquisitions fell as much as 31.6% on Thursday as the company returned from suspension after saying last week that Megasteel had withdrawn from a takeover deal due to alleged abusive behavior by parties claiming to be More shareholders.

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Enteq Technologies Taps Mark Ritchie as New CFO

Enteq Technologies said Thursday that it has appointed Mark Ritchie as chief financial officer, effective June 16, succeeding David Steel.

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Edenville Energy Shares Rise on GBP1.5 Mln Subscription; Board Reshuffle

Edenville Energy shares rose Thursday after it said it has raised almost 1.5 million pounds ($1.9 million) through direct subscriptions by two African-focused mining investment groups, and shuffled its management.

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Silver Bullet Data Services Shares Fall on Possible Fund Raising Need

Shares of Silver Bullet Data Services Group fell 24% on Thursday after the company said that it might need to raise extra funds in the short term, despite reporting a narrowed pretax loss for last year on higher revenue.

MARKET TALK:

Easing of Spot Prices for Raw Materials Could Lead to Slight Deflation in 2024

1139 GMT - Raw materials spot prices have further eased in May and could now potentially drive a slight cost deflation next year, analysts at JPMorgan say in a note. According to the U.S. bank, the decline in spot prices can be seen across most agri-commodities, as well as in packaging and European gas prices. "We now see overall food, HPC [household and personal care] and beverages cost of goods sold inflation set to be plus 6% in 2023 followed by minus 3% in 2024," the analysts say, adding the decline is expected to be mainly driven by household and personal care products due to the prices of oil derivatives like caustic soda, used to make cleaning products like soaps and detergents.(giulia.petroni@wsj.com)

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ITM Power's Update Offers Comfort Given Recent Headwinds

1109 GMT - ITM Power confirmed earnings guidance and indicated its 12-month plan is on track, which is comforting given it stumbled through 2022 with headwinds hitting operational and commercial performance and a surprise CEO departure raising questions on the firm's near-term prospects, RBC Capital Markets says. The clean-fuel and energy-storage company's appointment of Dennis Schulz as its new CEO is positive and should facilitate a quick turnaround in a fast-growing electrolyzer market, RBC analysts say in a research note. "We rate the shares outperform given significant de-rating relative to peers, and potential for order pick-up in the calendar year ahead," the Canadian bank says. RBC retains its 260 pence price target on the stock. Shares are up 0.02 pence at 69.26 pence. (joseph.hoppe@wsj.com)

Contact: London NewsPlus, Dow Jones Newswires

(END) Dow Jones Newswires

June 01, 2023 12:12 ET (16:12 GMT)

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How To Swiftly Generate Passive Income With FancyCrypto Cloud … – Analytics Insight

FancyCrypto Cloud Mining includes one of the best websites that users can sign up with to get a chance to generate passive income. In this case, the only question that one can ask is if you have considered joining the cryptocurrency mining world. In reality, mining has remained a lucrative alternative for people who become reluctant due to crypto trading risks. However, with time, the mining process has become highly challenging for several reasons. Below is a section of factors that have contributed to that:

Although several issues are associated with cloud mining, one should not lose hope since it has emerged as a feasible alternative in the past few years. For instance, with cloud mining, people can rent hardware for mining from a registered cloud mining service provider and, in return, get a share of profits earned through a mining operation. Such an approach avoids requiring one to buy costly tools or worry about energy costs. Therefore, it makes cloud mining a more accessible option for most people.

Research indicates that many people never thought cloud mining could contribute to surprising news globally. When it was first introduced, most people could visualize its potential. However, currently, it has changed several aspects of the crypto-mining world. The following are reasons why cloud mining is a huge deal:

Since it is evident for one to notice the growing demand for reliable cloud mining platforms, Fancy Crypto includes one of the platforms that has gained popularity. Mining enthusiasts have made it their favorite platform since it provides secure and reliable cloud mining services.

Currently, people do not need to search online for a trustworthy cloud mining service. Luckily with a user-friendly mining platform like Fancy Crypto, people can mine cryptocurrencies with confidence and ease. In reality, this platform has emerged as a leader in the industry as it boasts more than 360,000 users globally. Fancy Crypto uses state-of-the-art technology that powers advanced industry data centers from almost anywhere and any device, making it globally accessible.

However, what differentiates Fancy Crypto from other cloud mining platforms? Below are a few reasons why you should focus your attention on this platform.

What aspects make Fancy Crypto distinct from other cloud mining services? First, they have unique cloud mining profits and packages. In reality, a package suits everyone since they have several packages that provide varying daily contract prices and profits. The best part is that this platform settles interest within 24 hours, making it one of the fastest mining services. Their packages include:

Free cloud mining: Such a contract stays valid for one day and costs $10. It has a fixed return of $10.15.

Experienced project cloud mining:It is priced at $100 and is valid within your days. Its fixed return is $105

Ethereum project cloud mining: It is priced at 300, valid for five days, and has a fixed return of $324.

Litecoin cloud mining: Such a contract is priced at $800, valid for ten days, and has a fixed return of $944.

Dogecoin cloud mining: It is priced at $1500, valid for 15 days, and has a fixed return of $1938.75.

Ethereum classic cloud mining. It is priced at $3000 and valid for 28 days, with a fixed return of $4806.

Bitcoin cloud mining: It is priced at $5000, valid for 56 days, with a fixed return of $11580.

Further, the platform provides a referral program which compensates affiliates for encouraging new users to join. The benefits of the referral program include

The platform has changed the cryptocurrency world. Understandably, it has become a good solution for users wishing for an affordable, highly profitable, and feature-rich mining experience. Also, with its referral program, one can make passive income by investing. Therefore, it provides a win-win scenario. It is time to consider beginning your journey in the profitable cloud mining industry. If you wish to uncover more information, you can look at https://fancycrypto.com/.

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How To Swiftly Generate Passive Income With FancyCrypto Cloud ... - Analytics Insight

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