Latest News
-
Odesa Zoo saves birds after Russian attacks
Volunteers lift a dead bird from the wind-swept beach of 'Odesa. The Black Sea port town where an oil spill, blamed by Ukrainian officials on Russian attacks, has left wildlife fighting for survival. Odesa is a Russian target, and has been since the Russian troops invaded Ukraine on February 20, 2022. However, the attacks are more intense now. Wildlife is also among the victims. Russia hasn't commented on the spill but previously denied targeting civilian infrastructure. Odesa Zoo is determined to save birds that survive after being coated with oil. Birds can no longer move due to their feathers becoming coated. "They can't fly or swim," said zoo director Ihor Bilyakov outside a rescue point to rehabilitate the birds. They lose their mobility and freeze quickly because it is cold now. The spill, which was caused by Russian air strikes that damaged storage tanks of sunflower oil in Pivdennyi Port last week, killed dozens of birds. Regional governor Oleh Kiper blamed the incident on Russian attacks. The birds screech indignantly when volunteers clean them of oil from their bill to toe. Biliakov said that the two most elegant species, the great crested and horned Grebes, were the worst affected. He said that the great crested Grebe is a waterfowl species that is particularly vulnerable to contamination by oil. The port administration reported that emergency crews deployed floating barriers and specialised vessels to contain spillage, and temporarily closed the channel. The oil will degrade organically, according to authorities. However, monitoring and cleanup efforts are ongoing in order to prevent any further spread. Reporting by Iryna Nazaarchuk, writing by Ron Popeski and editing by Howard Goller
-
US regulator extends the driving time limit waiver to heating fuel haulers
To speed up deliveries, the U.S. Transport Safety Regulator has extended an 'emergency waiver' on driving time limits for truckers transporting heating fuels. The extension was given on Tuesday because extreme cold and severe winter storms in Pennsylvania, as well as a major power outage at an important gas refinery, had 'disrupted' propane supplies and created immediate dangers to the public health, safety, and welfare of those states. U.S. regulations normally require truck drivers to take mandatory rest breaks and cap their daily?and weekday driving hours in order to reduce fatigue-related crashes. However, regulators may temporarily waive these limits to speed up deliveries of essential supplies during emergencies. The extension comes after an earlier emergency declaration by the U.S. Federal Motor Carrier Safety Administration that relaxed'mandated rest and drive-time limits for trucks transporting heating 'fuels like propane, natural gas and heating oil in parts of the U.S. Northeast until December 26. The FMCSA stated that the affected states and jurisdictions include Connecticut, Delaware Maryland, Massachusetts New Hampshire New Jersey New York Pennsylvania West Virginia. (Reporting by Varun Sahay in Bengaluru; Editing by Shinjini Ganguli)
-
After record rally, gold, silver and platinum are taking a break
Gold prices fell on Wednesday after a record-breaking surge that saw them surpass the $4,500 an ounce barrier earlier in the session. Silver and platinum also saw some of their gains trimmed. At 01:57 pm, spot gold was down by 0.2% to $4,479.38 an ounce. ET (18:57 GMT), following a session high of $4,525.18. U.S. Gold Futures for February Delivery settled 0.1% lower at $4,502.8. Jim Wyckoff, Kitco Metals' senior analyst, said that the gold market was experiencing some chart consolidation as well as a mild profit-taking following record highs. Gold is a good investment in low interest rate environments. It also thrives when there are periods of uncertainty. Donald Trump, the U.S. president, said Tuesday that he would like to see the next Federal Reserve Chair?lower interest rates in a good market. The U.S. central bank has reduced rates 'three times' this year, and traders currently price in two rate reductions next year. A U.S. official said that the U.S. Coast Guard was waiting for more forces to arrive on the geopolitical scene before it could attempt to board and capture a Venezuelan-linked oil tanker, which they have been pursuing since last Sunday. Silver reached a new high of $72.70, and lastly rose 0.7% to $71.94 per ounce. The next target is for the gold market to reach $4,600/oz and for silver, $75/oz before the end of this year. Wyckoff added that the technicals are bullish. Silver prices are up 149% on a year-to date basis, despite strong fundamentals. This is more than bullion which has gained over 70% in the same time period. Platinum?peaking at $2.377.50, before paring its gains to stand at $2.220.44. Palladium fell by more than 9% to $1,683.58 per ounce after reaching its highest level in three years. The price of platinum and palladium, which are used primarily in automotive catalytic convertors to reduce emissions and cut down on pollution, has risen by 145% and over 85% respectively year-to date, due to tight mine supplies, tariff uncertainty and a shift away from gold investment.
-
After record rally, gold, silver and platinum are taking a break
Gold prices fell on Wednesday after breaking through the $4,500 per ounce barrier earlier in the session. Silver and platinum also saw some losses following their record-breaking rally. At 11:52 am, spot gold was down by 0.3% to $4,473.49 an ounce. After hitting a high of $4,525.18, the ET session ended at 16:52 GMT. U.S. Gold Futures for February Delivery fell by 0.1% to $4,500.30. Jim Wyckoff, Kitco Metals' senior analyst, says that the gold market has seen some chart consolidation as well as a mild profit-taking following record highs. Gold is a good investment in low interest rate environments. It also thrives when there are periods of uncertainty. Donald Trump, the U.S. president, said Tuesday that he would like to see the next Federal Reserve Chair?lower interest rates in a good market. The U.S. Central?bank cut rates 'three times' this year, and traders currently price in two rate cuts for next year. A U.S. official said that the U.S. Coast Guard was waiting for more forces to arrive on the geopolitical scene before it could attempt to board and capture a Venezuelan-linked oil tanker, which they have been pursuing since last Sunday. Silver reached a new high of $72.70, and lastly rose 0.1% to $71.5 per ounce. The next target is for the gold market to reach $4,600/oz and for silver, $75/oz before the end of this year. Wyckoff added that the technicals are bullish. Silver prices are up 148% on a year-to date basis, despite strong fundamentals. This is more than bullion which has gained over 70%. Platinum peaked at $2.377.50, before reversing its gains and standing 4% lower at $ 2,186.16. Palladium is down by more than 10% to $1,675.43 per ounce after reaching its peak three years ago. The price of platinum and palladium, which are used primarily in automotive catalytic convertors to reduce emissions and cut down on pollution, has risen by 143% and over 85% respectively year-to date, due to tight mine supplies, tariff uncertainty and a shift away from gold investment.
-
After record rally, gold, silver and platinum are taking a break
Gold prices fell on Wednesday as they took a breather after soaring past the $4,500 an ounce mark in the earlier part of?the day, while silver and platinum pared some gains from their record-breaking rally. At 10:04 am, spot gold was down by 0.4% to $4,468.96 an ounce. The session began with a high of $4,525.18. This was followed by a low of $4,425.18 at 1504 GMT. U.S. Gold Futures for February Delivery fell by 0.2% to $4,497.90. Jim Wyckoff, Kitco Metals' senior analyst, said that the gold market was experiencing some chart consolidation as well as a mild profit-taking following record highs. Gold is more likely to thrive in periods of uncertainty and low interest rates. U.S. president Donald Trump said Tuesday that he would like the next Federal Reserve chair to lower interest rates in a good market. The?U.S. The?U.S. central bank has reduced?rates a total of three times in the past year. Currently, traders are pricing in two rate reductions next year. A U.S. official said that the U.S. Coast Guard was waiting for more forces to arrive on the geopolitical scene before it could attempt to board and capture a Venezuelan-linked oil tanker, which they have been pursuing since last Sunday. Silver reached a record high of $72,70, but fell last 0.8% to $70.86 per ounce. The next upside target is $4,600/oz for gold and $75/oz for silver by the end the year. Wyckoff said that the 'technicals' remain bullish. Silver prices are up 147% on a year-to date basis, outpacing the bullion price increase of 70% during that same period. Platinum reached a high of $2,377.50, before reversing its gains to stand at $2.198.30, down 3.3%. Palladium fell 9% to $1,692.43 per ounce after reaching its peak three years ago. The price of platinum and palladium used primarily in automotive catalytic convertors to reduce emissions is up 160% and 100% respectively year-to date, due to tight mine supplies, tariff uncertainty and a shift away from gold investment.
-
NIPSCO gets federal order to maintain Indiana coal plant
Northern Indiana Public Service Company announced on Wednesday that it had?received an order from the federal government requiring continued operation of R.M. Schahfer generation station will continue to operate 'well beyond?its December 31, 2025 retirement date. The firm said that the order requires the Indiana-based facility to remain open for a period of 90 days following the date of?order. The directive is coming as several U.S. utilities are delaying coal plant retirements in order to meet the 'rising demand for power,' driven by data centers and rising natural gas prices, which have led to a re-focus on coal generation. Donald Trump, the president of the United States, has also advocated for increased coal production. He signed executive orders aimed at increasing coal use in April. NIPSCO, a subsidiary of U.S. utility NiSource Inc., had previously stated that it intended to retire the two remaining coal units at the Schahfer Plant by the end 2025. Vince Parisi, President and Chief Operation Officer of NIPSCO, said that they were reviewing the overall impact on their customers and business. They would comply with any orders received. (Reporting from Yagnoseni das in Bengaluru, editing by Vijay Kishore.)
-
SolGold accepts a $1.2 billion acquisition by Jiangxi Copper, a top investor
SolGold, a gold and copper mining company, announced on Wednesday that it had reached an agreement to be purchased by Jiangxi Copper. The deal valued SolGold at $867 million pounds ($1.17billion). The 28 pence per share deal represents a 43% premium over SolGold, a company focused on Ecuador that closed its stock price the previous day (November 19), the day Jiangxi approached the company to do a deal. SolGold's share price closed at 25.65 pence on Wednesday, a trading session that was shortened due to the holiday. The agreement gives Jiangxi the control of SolGold's Cascabel Project in Ecuador's Imbabura Province, as miners rush to secure copper supplies amid increasing demand driven by electric vehicles and AI infrastructure investment. One of the largest undeveloped copper and gold?deposits is located in South America. The London-listed mining company said that earlier this month, it was inclined towards recommending?the offer. Jiangxi was the third bid to acquire the company. "JCC is delighted to receive the unanimous recommendation from the SolGold board, and the strong support of other large shareholders for the acquisition. JCC is excited about the potential of the Cascabel Project," said Shaobing Zhou in a press release. SolGold's top investors also include BHP, a global mining company, and Newmont.
-
Silver, platinum and gold all reach new heights
On Wednesday, gold broke the $4,500 mark for the first-ever time. Silver and platinum also reached new records, as speculation and a demand for'safe havens' and further U.S. interest rate cuts in 2019 fueled speculative metals. At 1220 GMT the spot gold price was up by 0.2% to $4,494.49 an ounce, after hitting a session high of $4,525.19. U.S. Gold Futures for February Delivery climbed 0.4%, to $4,523.10. Platinum peaked at 2,377.50, but then pared gains to end up at 2,312.70, a 1.6% increase. Silver reached an all-time record high of $72.70, and it was lastly up 1.3%. Palladium fell 1.5% to $1,830.37 per ounce after reaching its highest level in three years. Fawad Rasaqzada is a market analyst for City Index and FOREX.com. He said that the lack of bearish factors, and strong momentum are all backed up by solid fundamentals. These include central bank purchases, a declining U.S. Dollar, and some haven demand. "Other metals, like copper, have been rising. This is providing support for the entire commodities complex." As investors seek safe-haven assets in the face of geopolitical tensions, and as they expect that the U.S. Federal Reserve would continue to ease its monetary policy, gold has gained more than 70% over this past year. U.S. president Donald Trump said Tuesday that he wanted the next Fed chair to lower interest rates if the markets were doing well. Gold and other non-yielding investments tend to perform well in an environment of low interest rates. Traders are currently pricing in at least two rate reductions?next. Silver's price has risen by more than 150% in the past year, surpassing gold, due to strong investment demand and its inclusion on "the U.S. Critical Minerals List" as well as rising industrial usage. Analysts at Societe Generale wrote in a report that the risk of a significant drop in gold prices is largely tied to a'slowing down of outright gold purchases, such as those by central banks in emerging markets. Investor positions indicate that, barring such a situation, the unprecedented rise in gold prices is likely to continue. This supports our Commodities Strategists' forecast of $5,000/oz by 2026. The price of platinum and palladium (used in catalytic converters for automobiles to reduce emissions) has risen by 160% and 100% respectively year-to date, due to tight mine supplies, tariff uncertainty and a shift away from gold investment.
As wildfires erase forests, Greeks argument: to replant, or not?
When a wildfire tore down a. hillside towards Athens last month, its southernmost flank. stopped in a treeless area burned by fire two years in the past. A few. miles west, nevertheless, the blaze found fresh fuel: woods and scrub. that provided a course towards the city's residential areas.
In its way stood the leafy village of Penteli, where Marlena. Kaloudi has lived considering that the 1970s. The fire swept through her. house. However what harmed most when she returned was the sight of her. pine trees, some over 100 years of ages, charred to an autumnal. brown.
The most significant catastrophe ... is not our house - this can be. brought back, stated Kaloudi, sitting by her gutted back deck. It's. those trees that were here before us and we hoped and prayed. would be here after us.
The devastation is a familiar sight in Greece and throughout the. Mediterranean region where fires have ended up being more regular and. strong, driven by greater temperatures and drier conditions that. researchers connect to environment change.
In the Attica region surrounding Athens, blazes have. destroyed 37% of its forests and meadows considering that 2017,. according to information launched in August by the National Observatory. of Athens, a government-funded research study centre. More than 60% of. broad-leafed forest and 41% of coniferous forest has actually been burned. and has not completely regrown.
The loss raises the risk of flash floods from rains on. denuded grounds no longer safeguarded by tree canopies and root. systems, in addition to greater air temperatures brought on by the. heating of unshaded ground, desertification and poorer air. quality, four experts stated.
It has actually likewise ignited an argument about what the government. reaction ought to be: continue with a program of replanting trees. that might offer fuel for future fires, or, as some scientists. desire, search for brand-new methods to adjust.
For Kaloudi, it's an apparent choice. After the last fire,. which went on to smother the city's northern residential areas, her. neighbours asked her to cut down the staying trees in her. garden. She refused.
The loss of this forest frightens me, she stated. What. scares me is the fact that there are individuals who want to cut the. trees that are left.
PLANT MORE TREES?
Wildfires have drastically modified Attica's landscape,. satellite images show. Hillsides, forested a few years earlier, have. become bald and rocky. Locations where forests do resprout are often. reburned. Bird song has actually vanished with the trees.
Data from Global Forest Watch, an effort that utilizes. satellites to track deforestation, shows that of all the. fire-related forest loss in Attica given that 2000, 74% has actually taken place. since 2017.
Greece is not alone. The U.N.'s Intergovernmental Panel on. Environment Modification (IPCC) has actually highlighted the Mediterranean region. as a 'international environment hotspot', with an increase in surface. temperature levels of 1.5 C from pre-industrial levels already driving. an increased threat of wildfires and drought.
Wildfires are also a growing danger in the United States,. Canada, Australia, and even the rainy United Kingdom. With that. threat has actually come an argument about what to do with a forest once it. has actually burned.
Some wish to replant trees to bring back root systems and to. recover lost carbon sinks. Others state forests and fire zones do. not mix.
Up until now, there is no clear evidence of which side is appropriate,. and regional elements identify what is best, the 4 specialists said. Still, some say a rethink is needed, specifically in areas where. the same locations are being repeatedly burned.
There is no terrific consensus on what to do, stated Camille. Stevens-Rumann, associate professor of fire ecology at Colorado. State University. Individuals typically want places to look like how. they did before, but that may not be suitable in a new fire. program.
Greece desires its forests back. With the aid of 450 million. euros from the EU, the federal government has embraced a nationwide fire. prevention plan that likewise consists of planting 1 million trees in. Attica.
The increase of greenery and its conservation is not only a. objective of the government but of the entire European Union, said. Efstathios Stathopoulos, Greece's General Secretary of Forestry.
The EU has a strategy to replant 3 billion trees throughout the bloc. by 2030, although the plan is not concentrated on replanting after. fires.
Not everyone believes resowing forests after fires works.
Theodore Giannaros, a fire meteorologist at the National. Observatory of Athens, surveilled a hillside outside Athens. blackened by last month's fire.
Next year, he said, the ground there, currently baking in. summer, will be even hotter for the absence of shade. The loss of. tree root systems will make the soil looser, increasing the danger. of floods or landslides, he said. There will be more dust.
Less flammable vegetation like some kinds of turfs or. agricultural land is the response, not trees, he said.
We have to seriously concentrate on how to bring back the landscape,. not just planting trees and forests, however in a way that will. be ... more durable versus natural catastrophes.
Fernando Pulido, teacher of forestry science at the. University of Extremadura in Spain, advised planting crops. or creating other barriers between dense forests in the. Mediterranean region.
This involves a modification in mentality ... however it's the only. method to guarantee that there won't be another fire at the very same. place after eight or 10 years, he stated.
THE FALLOUT
Meanwhile, areas previously untouched by fires are being. hit.
Thodoris Arvanitis has actually been a natural farmer on a 100-acre. plot in a woody location north of Athens for 35 years. He had actually a. school for aiming farmers, living quarters for employees, and. rows of polytunnels for his fruit and vegetables.
Last month, most of what he developed - up to 1 million euros of. devices and crops - was burned by the fire. Now, the sheet. metal of a gutted farmhouse clatters in the wind. A line of. newly planted fig trees is wiped out; stacks of charred. potatoes have actually been delegated rot.
Not all the crops were lost, and Arvanitis plans to reconstruct. On a current afternoon, personnel bagged up aubergines, french beans. and melons for delivery to consumers.
But he had a hard time to include his feelings when he talked. about the blaze, which was brought towards his home on the. surrounding trees. Without any assistance from the fire brigade, he. depended on other residents to help that day.
We were putting out fires occasionally. However new ones kept. breaking out. At some point we could not do anything more. The. fire was right outside our farm..
(source: Reuters)