Does Australia have the will to develop the next critical mineral at scale?
The Forces of demand driven by the global energy transition and supply limited by geopolitics are coalescing to make yet another mineral globally ‘critical’—uranium.
Australia’s rich economic geology has endowed it with the world’s biggest uranium resources. Yet we have a long-term aversion to uranium mining driven in no small part by fears among many people stemming from the Cold War era when nuclear Armageddon was a persistent worry, periodically reinforced by civil reactor accidents.
January milk production down slightly
The USDA says production in the top 24 states was 18.3 billion pounds, down nine tenths of a percent on the year, due to fewer cows, now at 8.873 million head, and lower average production of 2,062 pounds per cow.
California claimed the top slots for production and number of cows, followed by Wisconsin and Idaho in both categories, while Michigan led the way for average production.
The USDA says 2023 milk production totaled 226.364 billion pounds, a little bit less than 2022, with a decrease in the number of dairy cows canceling out an increase in the average.
Herbicide used in Bangladesh tea production threatens biodiversity & health
Tea has been an integral part of Bangladeshi life for long. From breakfast to evening chat, tea is a favorite drink to serve. Besides Bangladesh, tea is among the most popular drinks in countries like India, China, Japan and the United Kingdom.
During British colonial rule, the first tea production in Bangladesh started in 1840 on the slopes of the Chittagong hills. However, the first commercial tea garden was established in 1857 in Malnicherra, in the eastern city of Sylhet.
Due to the drink’s popularity, tea production as well as the number of commercial gardens increased over time.
Pulses, oilseeds demand to outstrip production by 2047-48
Amid protests by farmers at the Punjab-Haryana border demanding legalisation of minimum support price (MSP), a new NITI Aayog report has highlighted the urgent need to diversify from wheat and rice to pulses and oilseeds to bridge the demand-supply gap by 2047-48.
According to the report of the working group on demand and supply projections in agriculture, released on Tuesday, under a business-as-usual scenario, India’s pulses production will rise to around 47 million tonnes (mt) by 2047-48 from around 23 mt in 2019-20, while demand will grow to almost 49 mt during this period, leaving a gap of almost 2 mt.
China’s top coal producing region
China’s top coal-producing region of Shanxi has ordered miners to curb overproduction, according to a notice this week from authorities in the northern province, sparking a rally in coking coal futures on Wednesday.
Coal miners in Shanxi were asked to reduce output and carry out safety checks from March to May, according to the Feb. 19 notice by the provincial emergency management, mine safety and energy bureaus. The province produces 29 percent of China’s coal supply, including thermal coal for power plants and coking coal, a key steelmaking ingredient.
Brokerage China Futures said the order could reduce supply by a combined 5 million to 6 million metric tons for two major producers, Shanxi Coal International Energy Group and Shanxi Luan Group.
South Korean scientists develop sustainable ‘meaty rice’
Scientists in South Korea have developed a new type of sustainable hybrid food—a “meaty” rice that they say could help solve food crises and climate change.
The new grain was grown in a lab by researchers at Seoul’s Yonsei University and is packed with beef muscle and fat cells.
The result is a pink rice that the team says could offer a cheaper and more environmentally sustainable meat alternative and leave a smaller carbon footprint.
Saudi Arabia can no longer raise oil output for cash
Last year, Saudi Arabia’s sovereign wealth fund became the world’s top spender, accounting for a quarter of the $124 billion that sovereign wealth funds invested in total.
Saudi Arabia has been spending heavily both abroad and at home—the home of the world’s megaprojects, such as the $500-billion futuristic Neom project and a whole new airline, among others.
As a result, last year, the Public Investment Fund’s cash and treasury assets slimmed from over $105 billion in 2022 to some $37 billion as of September, according to official Saudi data cited by the Wall Street Journal this week. It’s getting harder to keep up with all the megaprojects—and oil prices remain stuck at around $80 per barrel.
Natural gas roars over 10pc in biggest uprising in 2024
Natural Gas (XNG/USD) is having a field day with a firm rally which is holding on to over 10 percent of gains into the US opening bell. One of the major Shale drillers, Chesapeake, is planning to cut its Natural Gas production already in 2024. The recent crash in Gas prices makes its Gas mining operations nearly unprofitable, and forces the company to cut its output, which means the global supply side will become tighter.
The US Dollar (USD) is turning red, unable to hold on to its European gains ahead of the US opening bell and US Fed FOMC Minutes.
Punjab expecting wheat production of 25.6 MMT
The Punjab province is expecting a good wheat production of 25.6 Million Metric Tons (MMT) out of the 17.4 million acres of land brought under the crop for the season 2023-24.
Punjab Minister for Agriculture SM Tanvir disclosed this while counting the steps taken by the caretaker government for the strengthening of agricultural economy and bolstering the agricultural productions in the province.
While speaking on Wednesday, he said during the last one year, concrete steps had been taken for the sustainable development of agriculture sector in Punjab.