LME triumphs in lawsuit over cancelled nickel trades
Reuters | November 29, 2023 |

Credit: LME

The London Metal Exchange (LME) won a legal battle with US financial firms on Wednesday which brought a case demanding $472 million in compensation after the exchange cancelled billions of dollars in nickel trades last year following a surge in prices.


Hedge fund Elliott Associates and market maker Jane Street Global Trading brought the case after the world’s largest metals marketplace cancelled $12 billion in trades when prices shot to records above $100,000 a metric ton in a few hours of chaotic trade in March 2022.


In its written ruling, London’s High Court said the LME could cancel trades in exceptional circumstances and was not obligated to consult market players prior to its decision.

“This judgment recognises the LME’s obligation to maintain orderly markets and its powers to intervene to this end, including by cancelling trades,” the LME said.

Other exchanges were closely watching the case because it could have wider ramifications on their ability to react to crisis situations.

Judge Jonathan Swift and Judge Robert Bright accepted LME chief executive Matthew Chamberlain’s position that consultations would not have revealed anything the exchange did not already know.

“It seems obvious to us that everyone involved was aware both that the suspension and cancellation decisions were momentous, and of the likely effects on all market participants – including those in the position of the claimants,” the judges said.

Elliott and Jane Street had argued the exchange acted unlawfully. Elliott said it intends to appeal the ruling.

Britain’s Financial Conduct Authority in March this year launched its first ever investigation of a UK exchange for possible misconduct after the LME’s decision to cancel trades.

A source at the FCA said: “We are aware of the judgment and we are considering it, in light of our supervisory remit over the exchange.”

The LME said it had both the power and a duty to unwind the trades because a record $20 billion in margin calls could have led to at least seven clearing members defaulting, systemic risk and a potential “death spiral”.

Elliott and Jane Street had been critical of Chamberlain for taking account of possible adverse consequences for some members.

“It is difficult to think of anything more likely to make the nickel market disorderly. Further, it would not only have affected the nickel market; the failure of an LME member, let alone a clearing member, would have had a serious impact on the global commodities market more broadly,” the judges said.

“The judgment raises fundamental questions for UK market participants who trade not only on the LME but more broadly on other exchanges, about an absence of trade certainty prior to settlement,” Elliott Associates said in a statement.

Jane Street said it would evaluate its next steps.

“Jane Street brought this case because we believe market participants should have confidence that trades entered in good faith are respected, and believe the decision for an exchange or clearing house to cancel those contracts should only be taken with rigorous analysis and utmost consideration.”

(By Sam Tobin, Pratima Desai and Eric Onstad; Editing by Veronica Brown and Elaine Hardcastle)

Stantec-designed billion-dollar lithium-ion battery cell manufacturing facility coming to British Columbia

EDMONTON, Alberta and VANCOUVER, British Columbia, Nov. 22, 2023 (GLOBE NEWSWIRE) -- TSX, NYSE: STN

Bringing advanced manufacturing and hundreds of jobs to British Columbia, E-One Moli Energy is building a lithium-ion battery cell manufacturing facility in the province. The CAN $1 billion project will create up to 350 new jobs and secure over 100 existing positions. Stantec, a global leader in industrial architecture and sustainable design and engineering, was selected to provide a full suite of services including planning, architecture, mechanical, electrical, fire suppression, structural, industrial, ICT, civil, geotechnical, and substation engineering, as well as interior design, landscape architecture, sustainability consulting, building commissioning, and environmental services.

Powered by British Columbia's clean energy supply, the facility will become the largest factory in Canada for high performance lithium-ion battery cells, producing up to 135 million battery cells each year.

Transition to a cleaner future
Supporting the transition to cleaner, more efficient energy sources, the lithium-ion battery cells produced will be used to electrify devices used in our daily lives, including consumer electronics, power tools, medical devices, high-performance vehicles, and aerospace applications.

To support E-One Moli's corporate mandate for a better and cleaner future, the new facility is designed to target LEED Gold and Net Zero Carbon certification. It will also include a seven-story mass timber office, and research and development component with a fully integrated green roof making it one of the most sustainable industrial buildings in the region.

"We are honored to work with a socially-conscious partner like E-One Moli who shares Stantec's commitment to reducing global greenhouse and CO2 levels for a cleaner tomorrow," said Navid Fereidooni, architect and principal for Stantec. "With a substantial investment in efficient energy generation, this transformative manufacturing space will bring opportunity and growth to the people of British Columbia and the Canadian economy. We are thrilled to be playing an important part in bringing this project to life."

Construction of the E-One Moli Energy manufacturing facility is expected to begin in June 2024 and be fully operational in 2028.

Advancing manufacturing in North America
Stantec's industry-leading integrated architectural and engineering team works within the global industrial sector, helping advanced manufacturing clients improve their operations, reduce costs, and optimize production flows.

Manufacturers are increasingly seeking to simplify their supply chains, bringing production closer to demand, with many companies opting to add new factories in North America to increase net capacity. Developing clean energy sources can mitigate global supply chain challenges while benefiting the climate and economy. Learn more about Stantec's advanced manufacturing solutions.

About Stantec
Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind.

We care about the communities we serve-because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.

We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.

Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.

Sensitive ecosystems at risk from mine waste

Spilled waste from the Brumadinho tailings dam in Brazil destroyed 133ha of Atlantic Forest and 70ha of protected areas downstream. Image, Diego Baravelli.

28 November 2023

Nearly a third of the world’s mine tailings are stored within or near protected conservation areas, University of Queensland research has found.

A study led by UQ’s Bora Aska, from the Sustainable Minerals Institute and School of the Environment, said these waste facilities pose an enormous risk to some of earth’s most precious species and landscapes.

“Mine tailings contain the waste and residue that remains after mineral processing, and the storage facilities built to contain it are some of the world’s largest engineered structures,” Ms Aska said.

“We found of the 1,721 disclosed tailings facilities, 9 per cent were within declared protected areas and 20 per cent were within five kilometres.

“Our findings suggest that mine wastes threaten biodiversity within protected areas all over the world, including 8 active tailings storage dams in Australian protected areas, recognised by the International Union for the Conservation of Nature.”

The 2015 Samarco dam failure in Brazil killed 19 people when a giant wave of mining waste washed across villages, farmland, and waterways.

Four years later, 270 people were killed in another dam collapse near the town of Brumadinho in Brazil, destroying 133 hectares of Atlantic Forest and 70 hectares of Protected Areas downstream.

“Given the size of tailings facilities, we’re concerned about the future risks of failures on areas important to biodiversity and conservation of species,” Ms Aska said.

“To assess the risks, we analysed a database of global tailings facilities and compared it with spatial data on protected areas.”

Information was drawn from the disclosures of publicly listed companies as part of the Mining and Tailings Safety Initiative, set up after the Brumadinho disaster.

UQ’s Associate Professor Laura Sonter said managing mine wastes will become an increasingly complicated sustainability challenge.

“Total tailings production is predicted to increase significantly in the next 30 years due to the growing demand for energy transition metals and declining ore grades,” Dr Sonter said.

“Considering the current global distribution of tailings storage facilities and their failure rate, the consequences for biodiversity could be devastating.

“Luckily, the data needed to manage these risks is emerging, and opportunities exist to factor this knowledge into the design of new facilities and manage those already in place.

“We must work expediently toward completely mitigating negative impacts of mining wastes on people and the environment,” she said.

The research has been published in Nature Sustainability.

A California dry farmer's juicy apples show how agriculture can be done with less water

Ian James
Wed, November 29, 2023

Farmer Mike Cirone prepares to pick dry-farmed apples in his orchard in See Canyon, near San Luis Obispo. (Luis Sinco / Los Angeles Times)


Leaves rustled as Mike Cirone reached into a tree and gently picked an apple. The orchard was filled with a profusion of ripe fruit in shades from golden-green to pinkish red.

But unlike other crops that guzzle water from canals and wells, this bounty of apples grew on its own without irrigation.

Cirone specializes in dry farming — applying little or no water, and relying on rainfall and the moisture stored in the ground.


This is how farming has long been done in See Canyon near San Luis Obispo, where the orchards spread out beside a creek at the foot of a steep ridge shaded by oak trees.

Apples for sale by fruit farmer Mike Cirone at the San Luis Obispo Farmers Market. (Luis Sinco / Los Angeles Times)

Cirone has been farming here for 40 years, perfecting his growing techniques and cultivating dozens of varieties of apples.

“It's the way it was always done here, and it worked,” Cirone said. “Why water if you don't have to? But what you realize is that also, you have something that has a lot more flavor.”

The lack of watering concentrates the tartness and sweetness. And the apples come off the trees crisp and juicy.

“They’re dry farmed. There is a distinct flavor,” he said.

Pausing from picking, Cirone took a Fuji apple and sliced off a hunk with a knife. As juice dribbled, he took a bite.

“Oh my God. It’s good,” he said. “I'm stoked at the quality of this fruit.”

Cirone has built a thriving business farming apples on 35 acres, as well as pears, apricots, plums and peaches.

Farmer Mike Cirone grows 60 varieties of apples and 15 varieties of peaches, as well as pears, apricots and plums. (Luis Sinco / Los Angeles Times)

Cirone, who is 64, picks fruit together with his 34-year-old son Patrick and one employee. They pack the apples in boxes, load them into a van and drive them to farmers markets around San Luis Obispo, as well as the weekly farmers market in Santa Monica, where their stand is popular and busy.

The Cirones are part of a special breed of California growers who are successfully cultivating crops using minimal amounts of water. They are showing how, in the right places, agriculture can be done differently, with a lighter touch on the environment than the many large-scale industrial farms that draw heavily on the state’s limited water supplies.

In places along the Central Coast, these dry farming specialists harness the water their lands naturally have to produce crops including watermelons, cantaloupes, wine grapes, olives and tomatoes.

“It's amazing what plants can do,” Cirone said, standing among his trees. “It's surprising what they can get by with.”

Read more: California's epic rain year boosted groundwater levels, but not enough to recoup losses

Cirone said this kind of farming can’t be done everywhere. It takes special conditions, including the right microclimate. The location of See Canyon, wedged in mountainous terrain 4 miles from the coast, creates ideal conditions for growing apples and other fruit.

“It’s a naturally wet place,” he said. “When it rains, it's so cool out here. The clouds come in and it's misty, and it all soaks in.”

The forested ridges catch rain, and water percolates into the canyon’s alluvial soil, where the trees’ roots tap into shallow groundwater. The flowing creek beside the farm has never run dry in the decades that Cirone has been farming.

Coastal fog rolls inland from the Pacific Ocean near San Luis Obispo. The moist climate along the Central Coast enables some farmers to grow crops without irrigation. (Luis Sinco / Los Angeles Times)

The canyon gets colder than surrounding areas in the winter, providing vital chilling for trees to blossom. As the apples are ripening, the morning fog often gives way to warm sun.

“It's kind of a magical little spot. I love it,” Cirone said.

“There is an old adage: good farmers farm good soil,” he said. “I farm good soil, and it makes a world of difference.”

Apples have been grown in See Canyon for more than a century. Cirone owns an orchard that was founded in 1916. Some of the remaining century-old trees are gnarled, with branches so thick they need to be propped up with boards to prevent collapse.

Cirone carries on these traditions while planting new trees, pruning, and practicing dry farming methods. Techniques for conserving water include rolling a cultivator tool over the ground to create a “dust mulch” layer that holds moisture in the soil. He also selects rootstocks that are drought-tolerant.

Mike Cirone boxes apples at his farm. (Luis Sinco / Los Angeles Times)

Dryland farming has a long history in the arid West, including among Indigenous peoples such as the Hopi, who today carry on their ancient traditions of growing corn, beans and squash relying on the rains. Settlers in California also dry farmed, but in the 20th century, growers began relying heavily on irrigation, which boosted crop yields.

“We used to do more of it in California,” Cirone said. “I think sometimes you've just got to look back and go, ‘Maybe things were better back then.’”

Cirone has wells on parts of his farm, and his focus on dry farming doesn’t stop him from watering a little when needed. To help newly planted trees get established, he waters them sparingly, lately once every 10 days, with drip irrigation lines.

He and his crew also sometimes hand-water trees with buckets.

Read more: Thousands of California wells are at risk of drying up despite landmark water law

During the severe drought from 2020 to 2022, Cirone said he was forced to water to try to save adult trees that were struggling. With the ground parched, the trees produced a smaller crop.

The heat scorched parts of the orchard, leaving withered leaves that Cirone said looked like “someone took a torch to them.” But those damaged trees recovered with this year’s heavy rains and are now flourishing again.

The canyon got 61 inches of rain this year, one of the wettest Cirone has seen.

Mist from the Pacific Ocean hangs over an orchard in See Canyon, where farmer Mike Cirone has been harvesting apples. (Luis Sinco / Los Angeles Times)

Cirone said he’s concerned about how human-caused climate change is unleashing more extreme weather swings, and what that might mean for the future. For now, though, he sees all the rain as a blessing, along with cold conditions that filled the orchard with a massive bloom of white and pink blossoms.

This fall, Cirone and his son have been busy picking and selling the largest apple crop they’ve ever produced.

“The way the fruit ripened, I was thankful. But it was just too much,” Cirone said. “We've had to really move quick this year. And that's been the stressful part.”

Cirone grows about 60 varieties of apples. At the peak of harvest in October, he can have up to 25 different kinds laid out in crates at his stand.

Their names evoke colors, flavors and textures: Suncrisp, Honeycrisp, Cameo, Jonagold, Sierra Beauty, Winesap, Arkansas Black, Splendor.

If you ask Cirone which is his favorite, he will tell you the Gold Rush, a golden-green apple with a freckled skin, crisp crunch and rich, tart flavor.

Cirone grew up in San Luis Obispo and graduated from Cal Poly with a degree in pomology, or fruit science. A lover of the outdoors and mountain climbing, he knew he never wanted to work in an office. He started a fruit-tree pruning business, and then began farming.

Mike Cirone sells his apples and pears at the San Luis Obispo farmers market on a recent Saturday morning. (Luis Sinco / Los Angeles Times)

At the farmers market in San Luis Obispo, he knows many customers by name and chats while weighing fruit. Some arrive asking which varieties he suggests for everyday eating, salads or pie-making.

Others come searching for a specific type of apple. Gary Hamel, a retired chef, bought a 22-pound box of Winter Pearmains, an heirloom variety that grows on gnarled century-old trees.

“You have to get them when they’re available,” Hamel said. “I’ve missed them a couple of years.”

Read more: Corporate growers’ carrots are soaking up water. Locals are fighting back with a boycott

The green apples are crisp and sweet, with a peel that carries a delicate, lingering flavor.

For some customers, there is no going back to supermarket apples after having freshly picked dry-farmed apples.

Also popular are dry-farmed watermelons that grower John Lahargou has been selling from the back of a pickup, offering samples on toothpicks.


John Lahargou, who dry farms in Paso Robles, sells his watermelons at the farmers market in San Luis Obispo. (Ian James / Los Angeles Times)

“We don’t water them,” Lahargou told a customer. “That’s what makes them super sweet.”

Lahargou has dry farmed for decades in Paso Robles and remembers the technique was once widespread. The area produced dry-farmed grain, hay and almonds. But much of the farmland was overtaken by vineyards irrigated with groundwater, which has caused aquifer levels to decline.

Lahargou continues dry farming because he doesn’t have a well. And he said it’s given him something special: juicy melons that burst open with a touch of the knife.

“We had quite a lot of rain,” he said. “That’s why they’re so good.”

The season’s last watermelons were sold in November. But the Cirones have continued harvesting apples.

Patrick Cirone began helping his father at farmers markets as a boy, handing out plastic bags. He has been working full-time in the business for eight years, and says he continues learning nuances, including when different varieties should be picked.

“Every year’s different, too. That’s the thing,” he said. “So it’s trying to get a grasp on that.”

Farmer Mike Cirone picks apples in his orchard. (Luis Sinco / Los Angeles Times)

The Cirones have a weekly routine. Each Wednesday, they wake up at 1 a.m. to drive to Santa Monica, where by sunrise they are raising their tent and unloading fruit for the crowds that will soon line up.

When they aren’t at a market, they are often picking on the farm.

On a recent morning, Mike Cirone stood on a ladder, filling a bag with Fuji apples. He chatted in Spanish with his longtime employee Meliton Robles, discussing where to pick next.

The sweet scent of fallen apples filled the air.

Usually, Cirone sells apples until December. This year, the crop is so abundant he expects to continue selling into January.

“We needed a good year,” Cirone said. “We've come off a couple of light apple years. The drought really had a big effect on these trees.”

Read more: Black farmer looks to ancestors to help Californians battle climate change

Years ago, Cirone didn’t worry much about weather extremes. Now, he said, he often thinks about climate change, and how he might prepare for the next severe drought or heat wave.

When planting new trees, he has started choosing late-ripening varieties that could fare better as the seasons shift with rising temperatures.

“Everything is being affected,” he said. “And that drumbeat seems to be getting louder.”

Cirone hopes that his farm’s location in the canyon will make it resilient, and that his methods will help sustain the farm.

But he’s concerned that other farming regions of California, particularly the Central Valley, are headed for dire consequences as they grapple with chronic groundwater depletion combined with hotter, drier conditions.

Cirone said he sees large-scale export-driven agriculture as part of the problem.

“Should we be growing bazillion acres of almonds to be exported around the world? That doesn't make sense to me. That's a misuse of water,” Cirone said. “It’s not sustainable. It’s going to be a new desert out there. I don’t understand why we’re chasing money at that level.”

"I think water is going to be an issue. And we need to be very thoughtful about that as a society," he said.

He said he believes promoting more local agriculture would help, along with adopting farming methods that work with nature, including the sustainable techniques of agroecology and permaculture. Cirone said dry farming should be viable in various parts of California, including areas where it hasn’t been tried before.

“We need to start to look at things differently,” he said. “We have to be part of the solution.”

Cirone said he sees himself as part of a movement to return to a more natural form of farming that involves planting in the right locations and matching crops to local conditions.

“You're not forcing things, essentially,” he said. “I think it's a pretty benign form of farming.”

While he continued picking, the rising sun lit up the orchard and the oak trees on the canyon's steep ridges.

“Oh, here's some nice Fujis,” he said, approaching a tree loaded with apples. “I love the way these look.”

He said he would be back soon with more boxes. There were still many apples left to pick before the end of the harvest.

This story originally appeared in Los Angeles Times.

 

Dow investing billions in Alberta net-zero project

DCN-JOC News Services November 30, 2023

DOW CHEMICAL COMPANY — Dow is investing $6.5 billion in a net-zero ethylene cracker and derivatives facility in Fort Saskatchewan, Alta. with construction set to begin in 2024.

EDMONTON – Dow Canada has announced it is going forward with a $9 billion net-zero ethylene cracker and derivatives facility in Fort Saskatchewan, Alta.

The project includes building a new ethylene cracker and increasing polyethylene capacity by two million MTA as well as retrofitting the site’s existing cracker to net-zero Scope 1 and 2 emissions.

“This investment by Dow is further evidence of the opportunity that exists in Alberta. We are proud that Dow has chosen to build and launch their project here. This project does not just mean net-zero emissions, it means more jobs and a stronger economy. I look forward to the next steps, including construction starting next year,” Alberta Premier Danielle Smith said in a statement.  

To get to net-zero Scope 1 and 2 emissions, a Dow release said, the Fort Saskatchewan project will deploy Linde’s air separation and autothermal reformer technology to convert the site’s cracker off-gas to hydrogen, which will then be used as a clean fuel to supply the site’s furnaces.

Carbon dioxide emissions will be captured and stored with a reduction of existing emissions by approximately one million MTA of CO2e while abating all emissions from the addition of the site’s new capacity.

Board approval enables Dow to begin construction in 2024, the release said, with capacity additions going forward in phases. The first phase will be in 2027 and will add approximately 1,285 KTA of ethylene and polyethylene capacity, and the second phase starting up in 2029, adding an additional approximately 600 KTA of capacity.

Additionally, the governments of Canada, Alberta, and Fort Saskatchewan have made subsidies and incentives available to support this project and to drive innovation in low-emissions manufacturing in Canada, the release added.

 

B.C. delegation heads to Europe’s largest mining investment conference

DCN-JOC News Services November 28, 2023

VICTORIA – Josie Osborne, minister of energy, mines and low carbon innovation, is leading a British Columbia mining delegation at the Resourcing Tomorrow conference in London, England, from Nov. 28 to 30.

The delegation, representing the Ministry of Energy, Mines and Low Carbon Innovation, Nisga’a First Nation, Association for Mineral Exploration, Northisle Copper and Gold, and other B.C.-based mining companies, will promote investment in B.C.’s critical minerals sector.

Organized by the B.C. Regional Mining Alliance, a partnership between the province, First Nations and the mining industry, the mission’s goal is to create job opportunities in the region and highlight B.C.’s role in the global low-carbon economy. The conference focuses on accelerating the energy transition in the mining sector.

The delegation intends to emphasize British Columbia’s mining strengths, as per a recent press release. This includes its rich mineral and metal deposits, a skilled workforce and high environmental, social and governance (ESG) standards, underscored by the industry’s commitment to using clean electricity instead of fossil fuels and achieving lower emissions intensity.

Additionally, a key focus will be the province’s commitment to reconciliation with First Nations, highlighting a clear path to seeking their consent on major projects.

As noted in the press release, the mining sector is a significant contributor to British Columbia’s economy. It is the largest producer of copper in Canada and the only producer of molybdenum. The industry currently supports 19 major mines in operation or under construction and employs approximately 35,000 workers. Mining contributes 28 per cent to B.C.’s exports and represents three per cent of the province’s gross domestic product (GDP). The fiscal year 2022-23 is projected to see over $80 million in resource revenue shared with First Nations in B.C. Additionally, the province is developing a Critical Minerals Strategy to enhance the production of vital minerals such as nickel and cobalt.

 

Price-Fixing Scandal Rocks European Construction Giants in US Court

BY CPI  |  NOVEMBER 30, 2023

    

French building materials behemoth Saint-Gobain, along with prominent European construction chemical manufacturers Sika and Master Builders Solutions, find themselves entangled in a legal battle on U.S. soil. A lawsuit was filed on Wednesday in the federal court of Philadelphia, alleging a conspiracy to fix prices on essential ingredients used in cement, concrete, and mortar.

The legal action was initiated by M&D Peterson LLC, a general contractor supply company based in Jamestown, New York. The prospective class-action lawsuit accuses the companies of artificially inflating prices, thus potentially affecting a broad range of stakeholders in the construction industry.

The lawsuit emerges on the heels of a joint effort by the European Commission, along with British and Turkish competition authorities, who in October conducted surprise inspections within the construction chemicals sector. The investigation specifically targeted Sika, Saint-Gobain, and Master Builders Solutions, all of which are now defendants in the U.S. case.

Related: NY Bus Company Accuses Rivals Of Price-Fixing Scheme

A spokesperson for Saint-Gobain pointed to a prepared statement asserting the company’s cooperation and stating, “At this stage, we see no reason to believe there will be an impact” on the organization. However, representatives for Sika and Master Builders Solutions have yet to respond to requests for comments on the allegations.

Sika, in a previous statement, maintained that the company was unaware of any culpability but expressed cooperation with the ongoing authorities’ investigations. The legal proceedings in the U.S. are likely to amplify the scrutiny faced by these European companies.

Notably, investigations initiated by entities such as the European Commission often pave the way for private civil litigation in the United States. The law firm Hausfeld, representing the plaintiffs in this case, refrained from immediate comments on Thursday.

Alaska Energy Metals Completes Acquisition of Angliers Nickel-Copper Project

BY CPI  |  NOVEMBER 26, 2023

    

Alaska Energy Metals Corporation is thrilled to announce the successful closure of its recent acquisition, acquiring 100% ownership. The strategic move was executed through a Share Exchange Agreement dated November 7, 2023, involving the Company, 141 BC, and the security holders of 141 BC.

This acquisition positions AEMC as the sole proprietor of 141 BC, whose valuable assets include the Angliers-Belleterre nickel-copper project (“Angliers project”) in western Quebec, along with approximately $2.8 million in cash.

As part of the agreement, 24,000,001 of the Consideration Shares are subject to a three-year escrow hold period. A structured release plan has been established, allowing 10% of the escrowed securities to be released at the time of the Final TSX-V Bulletin, followed by 15% every six months thereafter until the full release.

Additionally, 7,827,719 of the Consideration Shares are subject to a 60-day contractual hold period to ensure a stable transition for all parties involved.

The AEMC warrants, issued in connection with the acquisition, are exercisable at $0.80 per share and will remain valid for a period of two years from the date of issuance.

Importantly, no finder’s fees are payable for this transaction, indicating a smooth and cooperative agreement between the involved parties.

In a collaborative effort, AEMC and 141 BC have agreed to an area of mutual interest for a term of five years. This agreement covers three kilometers of the outer boundaries of the Angliers project, underlining a shared commitment to the development and exploration of this significant nickel-copper project.

This acquisition marks a significant milestone for Alaska Energy Metals Corporation, strengthening its position in the mining sector and unlocking new opportunities for growth and development. The Company is enthusiastic about the future prospects of the Angliers-Belleterre nickel-copper project and remains committed to delivering value to its shareholders through strategic initiatives and resource development.

The Mysterious Explosions of Fulminating Gold

"Fulminating gold" explodes to produce strange purple smoke. Now scientists have shown for the first time that the smoke contains gold nanoparticles.

By The Physics arXiv Blog
Nov 29, 2023 

(Credit:-strizh-/Shutterstock


One of the great “scientific” endeavors of the Middle Ages was the study of Chrysopoeia, the process of turning base metals such as lead into gold. Most practitioners were doomed to failure but one German alchemist named Sebalt Schwarzer made a single contribution that has stood the test of time.

In his 1585 tome, Chrysopoeia Schwaertzeriana, he describes the synthesis of the world’s first high explosive, a substance known as fulminating gold. This crystalline substance turns almost instantly into a cloud of purple and red smoke in a reaction that travels at supersonic speeds. Hence the high explosive (a low explosive burns at subsonic speeds). Fulminating gold is relatively easy to make but highly unstable, detonated by hear or even touch.

This instability has made it difficult to study. Its crystal structure is poorly understood and even its chemical formula defied analysis until recently. It turns out that fulminating gold is not a specific chemical but a mixture of polymeric compounds of gold, chlorine and ammonia

There is another puzzle too: the cloud of smoke that fulminating gold produces when it explodes. Nobody is quite sure why it is purple or red. Modern chemists have assumed the smoke is made largely of gold nanoparticles and it has long been used to coat objects with a beautiful purple patina. Chemists know that gold nanoparticles can do the same.

But this is merely circumstantial evidence of gold. What’s needed is clear scientific proof of gold in the smoke.

Gold Standards

Enter Jan Uszko and colleagues at the University of Bristol in the UK who have gathered the first conclusive evidence that the reaction is an explosion of gold. “We show for the first time that the explosion of fulminating gold creates gold nanoparticles, ranging in size from 10 to 300 nm,” they say. They add that their discovery may help to produce better nanoparticles in the future.

The team first made several samples of fulminating gold and placed a carbon-coated mesh over them as they were heated. The resulting explosions deposited smoke particles onto the mesh.

The team then scanned the mesh with a transmission electron microscope and characterized the particles they found.

It turns out that the mesh was covered in nanoparticles between 10 to 300 nm in diameter. The electron microscope images revealed that the crystal planes within the nanoparticles have a spacing of 0.24 nm, which is consistent with gold.

The team then compared the electron diffraction patterns with those theoretically expected and from gold and found close agreement. “This work is proof of the long-supposed nature of the cloud produced on the detonation of fulminating gold,” they conclude.

The purple and red coloring comes from the way electrons on the surface of the nanoparticles interact with light via a process called plasmon resonance. Indeed, other scientists recently showed that gold decoration can sometimes develop purple fringes when nanoparticles form on its surface, as at the Alhambra Palace in Grenada in Spain.

All That Glisters...

The Bristol team say that nanoparticles produced in the explosion have some unique characteristics. Nanoparticles usually form as spheres but become misshapen as they grow beyond a few nanometers in diameter. This happens via a process called Ostwald ripening where small particles dissolve and then regrow onto larger particles. This also reduces the variation in size.

But the nanoparticles from the explosive detonation of fulminating gold have a broad range of diameters that are spherical up to 300 nm in diameter. Uszko and co say that’s almost certainly because the speed of the detonation does not allow Ostwald ripening or other similar processes to occur.

Such large nanospheres are unusual and the explosions suggest a new mode of manufacture. “In this way, larger gold nanoparticles can be created with a sphericity more commonly seen in the early stages of formation when the nanoparticles are small,” say Uszko and co.

That’s interesting work solving an ancient problem. Schwartzer would surely be amazed!

Ref: Explosive Chrysopoeia : arxiv.org/abs/2310.15125chemistry

400-Year-Old Purple Explosive Smoke Mystery Solved

Scientists now know why fulminating gold – the world’s first high explosive – produces purple smoke when it detonates.

News  

Published: November 21, 2023

 

| 

Alexander Beadle

Credit: Yoni Kozminsi / Unsplash.

When high explosives were first invented, they were dangerous, unpredictable and could explode with even the slightest touch.

Made from a mixture of gold, ammonia and chlorine, these explosives became notable for more than just their deadly potential – after detonating, they left behind a strange purple smoke unlike gunpowder or anything else seen at that time.

More than 400 years after the invention of “fulminating gold” explosives, scientists finally have an answer for why these compounds produce their iconic purple smoke. The research is published as a preprint in arXiv.

From ancient alchemy to modern chemistry

The idea of a 16th century alchemist obsessed with their quest to turn lead into gold is an enduring trope in modern media, and for good reason. This fascination with “chrysopoeia”, the artificial production of gold from more common metals, really happened. It gave way to one of the more revolutionary discoveries made in the 1500s – high explosives.

The synthesis of fulminating gold was first described by alchemist Sebalt Schwärtzer in his 1585 book “Chrysopoeia Schwaertzeriana”. Further study by leading scientists such as Robert Hooke and Antoine Lavoisier in the 17th and 18th centuries improved this process, with modern science turning what was a four-to-five-day process into a synthesis that can be achieved in minutes by mixing gold compounds with ammonia.

But while the chemistry behind making these centuries-old high explosives is well understood, one mystery had endured – why is fulminating gold’s smoke purple?

Researchers speculated that the distinctive smoke might be a result of gold nanoparticles that are spat out into the smoke. Circumstantial evidence would back this theory; the 17th century German-Dutch apothecary Johann Rudolf Glauber documents how smoke deposition from fulminating gold was sometimes used to gold-plate objects. This would suggest that gold nanoparticles are present in the smoke to a significant degree, though modern science has never proven this definitively.

Gold nanoparticle clusters create the iconic purple hue

In their new preprint, Simon Hall, professor of chemistry at the University of Bristol and PhD student Jan Maurycy Uszko, synthesized samples of fulminating gold to test whether gold nanoparticles could explain this unusual smoke hue.

Using a transmission electron microscope (TEM), the researchers were able to identify and take images of clusters of gold nanoparticles that had been collected from the fulminating gold smoke.

“I was delighted that our team have been able to help answer this question and further our understanding of this material,” Hall said.

“Our experiment involved creating fulminating gold, then detonating 5mg samples on aluminum foil by heating it. We captured the smoke using copper meshes and then analyzed the smoke sample under a TEM,” he continued. “Sure enough, we found the smoke contained spherical gold nanoparticles, confirming the theory that the gold was playing a role in the mysterious smoke.”

More than just proving an old theory about the colors produced by an ancient explosive, the researchers believe that this research could also have wider-reaching consequences.

“This work is proof of the long-supposed nature of the cloud produced on the detonation of fulminating gold, but also potentially opens the door to fast solvent- and capping agent-free syntheses of metal nanoparticles,” they write.

Having solved one historic science puzzle, Hall and his team say that they plan to use this methodology to study the nature of smoke produced by other metal fulminates – such as platinum, silver, lead and mercury – to see whether these compounds might hold any further answers.

 

Reference: Uszko JM, Eichhorn SJ, Patil AJ, Hall SR. Explosive chrysopoeia. arXiv. 2023. doi: 10.48550/ARXIV.2310.15125

Nanoscale engineering of gold particles in 18th century Böttger lusters and glazes

Peru suspends mining concession in vulnerable natural zone

Inspenet, November 28, 2023.

The Ministry of Energy and Mines (Minem) of Peru has issued a supreme decree establishing a 12-month suspension for all types of mining concessions in the vicinity of the Nanay River basin, a tributary of the Amazon River located in the department of Loreto. , the northernmost in the country.

The Nanay River is part of the Allpahuayo Mishana National Reserve, a region that is home to delicate ecosystems, such as the white sand chamizal and stand forests that belong to the Napo Ecoregion, and various species of endemic flora and fauna.

The general director of Mining of the ministry, Jorge Enrique Soto, communicated this decision during a public assembly in the city of Iquitos, organized by the Popular Commission of Congress. Soto explained that the measure responds to repeated requests from citizens, environmental organizations, indigenous communities and local authorities, who have expressed the need to protect the Nanay River, a source of fresh water for more than half a million people.

The demands originated in August, when the Geological, Mining and Metallurgical Institute (Ingemmet) granted the local company Raíces Gaddaffy a mining concession of 1,000 hectares in the upper basin of the river. The approval of legal operations disconcerted the population of Loreto, who has been fighting for years to eradicate illegal mining that pollutes the Nanay River.

According to the Andean Amazon Monitoring Project (Maap), more than 122 unregulated mining structures were identified in the area between 2022 and 2023. Despite this, the recent decree will not retroactively affect the concession granted to Raíces Gaddaffy . To reverse the concession, other mechanisms must be used, such as the appeal for protection and the administrative complaint, which have already been filed by several organizations against the company.

“If we allow this activity to take place, as is already happening in the Nanay, the river will disappear and we will also be condemned. More than half a million people in Iquitos will also disappear“said José Manuyama, an environmental activist who leads actions in defense of the Nanay River, at the town hall. “ As the images show, the Nanay River is beginning to look like the new Mother of God .”

Located in the Amazon basin in southeastern Peru, Madre de Dios is a region of tropical biodiversity that has long been affected by illegal gold mining in its rivers.