UK-based Fulcrum Metals has acquired 100% interest in the Charlot-Neely Lake, South Pendleton, and Snowbird uranium projects in Saskatchewan, Canada, through its subsidiary, Fulcrum Metals (Canada) Ltd. Terra Balcanica Resources Corp a polymetallic exploration company, has signed a “definitive option agreement”, that allows a four-year option to acquire a 100% interest in Fulcrum’s uranium exploration licenses in northern Saskatchewan, Canada. These licenses cover 596.71 km² of promising uranium exploration ground. With uranium prices rising quickly, this deal is sure to make an impact.

Fulcrum Advances Acquisition and Sale of Major Uranium Projects

The company’s press release reveals that Fulcrum paid CA$ 5,000 upon receiving the option and an additional CA$ 60,000 when exercising it on June 28, 2024. These projects now belong to Fulcrum Metals (Canada) Ltd. This acquisition, covering 11,481 hectares, follows an agreement with Gary Clayton Dunn and Jonathan Stewart Dunn, the owners of The Dunn Option Uranium Projects of Saskatchewan.

This acquisition brings Fulcrum closer to finalizing the sale of its 59,000 hectares of uranium projects to Terra Balcanica Resources Corp. The projects include Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton, all situated along the northern and southeastern edges of the Athabasca Basin. This Basin is a major source of about 20% of the world’s uranium and hosts significant deposits.

Terra has already paid Fulcrum C$25,000 in cash to secure the option. The company anticipates completing the agreement soon and will provide updates as developments occur.

MUST READ: Uranium Royalty Corp. Publishes First-Ever Sustainability Report

Terra Balcanica CEO, Dr. Aleksandar Mišković has given a long statement on this. He said,

“The agreement signed with Fulcrum marks an exciting new chapter in Terra’s corporate history as a high-quality target generator and explorer of critically needed commodities. The Company is now exposed to a world-class uranium district that is experiencing a mining renaissance as evidenced by the recent discovery made just 20 km from of our flagship Charlot-Neely license. With close to 600 km2 of land tenure, we are supremely positioned to take early-mover advantage of opportunities along the entire northern and eastern margins of the Athabasca Basin. The optioned portfolio comprises geologically promising ground that has not seen modern surveying nor recent drilling. We are excited to approach it by applying the same level of technical rigor as we did in the Balkans to define drill targets with a high probability of success.

Dr. Aleksandar further added that the licenses also feature gold, copper, nickel, and cobalt showings, anticipating an eventful autumn of prospecting, sampling, and structural mapping. Additionally, he plans to conduct airborne geophysics to rapidly define drill targets.

A MESSAGE FROM URANIUM ROYALY CORP.
[Disseminated on behalf of Uranium Royalty Corp.]

NASDAQ’s Sole Uranium Focused Royalty Company

The company is Uranium Royalty Corp., trading as (NASDAQ: UROY, TSX: URC), holding a strong portfolio includes strategic acquisitions in uranium interests with royalties, streams, equity in uranium companies, and physical uranium trading. Their strategic approach aims to support cleaner, carbon-free nuclear energy while fostering long-term relationships based on sustainability principles.

Learn about the company’s portfolio of royalty assets and uranium holdings >>

Athabasca Basin: The Hot Spot of the Uranium Project

Terra’s press release has emphasized this uranium project’s notable attributes and the sites’ substantial mining potential.

The optioned terrain lies near the northern and southeastern edges of the Athabasca Basin in northern Saskatchewan, a renowned mining area and top global source of high-grade uranium. It includes four license clusters targeting promising NE-SW structures and electromagnetic conductors.

Furthermore, these corridors are identified as likely zones for basement- and intrusive-hosted uranium mineralizations. The southeastern margins of the Athabasca Basin have world-class uranium deposits, such as NexGen Energy’s Arrow (4.3 Mt at 0.83% U3O8) and Fission Uranium’s Triple R (2.7 Mt at 1.94% U3O8).

Charlot-Neely Lake has significant REE potential. It lies within the emerging Uranium City district on the Basin’s northwestern margin. Past work shows evidence of uranium mineralization along favorable structural trends with promising target horizons identified by electromagnetic conductors.

The samples showed over 31% U3O8 and 16% REE. The company will target high-grade uranium sources along the most radioactive segments of the graphitic conductors, focusing on previously untested drill targets.

Similarly, Fontaine Lake and Snowbird showed 1% uranium in a minimal 2008 field program. Future exploration will involve modern systematic geological fieldwork to assess the uranium potential.

Additionally, South Pendleton shares the same basement lithologies as the prolific Key Lake and Rabbit Lake mines. Despite several surface radioactive anomalies and occurrences of uranium mineralization, this area remains unexplored.

source: Terra Balcanica

CHECK OUT: U.S. DOE Aims to Expand Domestic Uranium Supply with US$2.7B RFP 

Fulcrum Metals: Strategic Ventures in Canada’s Uranium-Rich Terrain

Fulcrum Metals, a multi-commodity explorer has built an impressive portfolio of gold, base metal, and uranium projects. Mostly they are strategically located near rich deposits and active mines with established infrastructure. And Canada is the key hub!

Some significant exploration projects include the Schreiber-Hemlo Project in Ontario, which consists of the Big Bear and Jackfish Lake gold assets, covering 113 km². This area is not fully explored yet. Thus, presenting Fulcrum’s complete exploration opportunity. Furthermore, through joint ventures or acquisitions, it plans to develop several early-stage projects in Ontario’s greenstone belts, including Winston Lake, Dog Lake, and Tocheri Lake.

FURTHER READING: Paladin Energy Offers C$1.14 B to Canada’s Fission Uranium. What does it mean for Uranium Mining?

However, the Saskatchewan project is the most promising one. This is because Saskatchewan is a top source of high-grade uranium. It’s getting exposure to the growing global investment in nuclear energy for decarbonizing power. Thus, we can conclude that the Fulcrum Metals and Terra Balcanica deal would give a new dimension to uranium mining in Canada.

SEE MORE: Unplugging The Energy Crisis… Fueled by Uranium

The post Fulcrum Metals and Terra Balcanica Forge Deal to Explore Uranium in Canada appeared first on Carbon Credits.

Alphabet, Google’s parent company, reported a 14% year-over-year revenue increase, driven by search and cloud services, with cloud revenues surpassing $10 billion and achieving $1 billion in operating profit for the first time. Financial gains are increasing but so is Google’s carbon footprint.

Financial Highs, Environmental Lows

Google’s Way to Net Zero Carbon

Google is committed to accelerating the transition to a net zero future and has taken significant steps over the past two decades to minimize GHG emissions. In 2021, the company set an ambitious goal to achieve net zero emissions across all operations and its value chain by 2030. This goal is being pursued through two key strategies:

Reducing Emissions: Google focuses on reducing emissions across its operations and value chain, including advancing 24/7 carbon-free energy (CFE).
Addressing Residual Emissions: After reducing emissions, the company addresses any residual emissions with carbon removal initiatives.

The tech company’s net zero goal is designed not just for the company but also to help accelerate global decarbonization. To ensure maximum impact, the company regularly evaluates its plan to ensure it is rigorous, science-based, and realistic in light of evolving challenges and standards.

The company is also engaged in advocacy efforts, exploring data center innovations, accelerating global grid decarbonization, and advocating for GHG Protocol reform to drive systemic change. 

2023 Carbon Footprint Rises

Target: Reduce 50% of our combined Scope 1, 2 (market-based), and 3 absolute GHG emissions by 2030, 102 and invest in nature-based and technology-based carbon removal solutions to neutralize our remaining emissions

Charts from Google’s 2024 Environmental Report

In 2023, Google’s total GHG emissions were 14.3 million tCO2e, representing a 13% year-over-year increase and a 48% increase compared to the 2019 target base year. 

This increase was primarily due to higher data center energy consumption and supply chain emissions. As Google further integrates AI into its products, reducing emissions may become more challenging due to the increased energy demands from the greater intensity of AI computing and the emissions associated with the expected growth in technical infrastructure investment.

Google Carbon Lens’ Focus: Carbon Removal Credits 

Google halted buying cheap carbon offsets that backed its carbon neutrality claim. As mentioned earlier, the tech giant is now focusing on investing in and advancing carbon removal solutions. 

To advance carbon removal technologies, Google addresses key challenges facing these solutions. The company committed $200 million to Frontier, an initiative designed to accelerate carbon removal technologies by ensuring future demand. It partners with Charm Industrial, CarbonCapture, and Lithos Carbon.

Moreover, in March 2024, Google announced it would match the U.S. Department of Energy’s Carbon Dioxide Removal Purchase program dollar for dollar, committing to purchase at least $35 million in carbon removal credits over the next year.

READ MORE: Google, Meta, Microsoft, and Salesforce Launch “Symbiosis”, Pledging for 20M Tons of Nature-Based CDR Credits

Carbon-Free Energy Every Hour, Every Day

One big source of its carbon emissions which Google has direct control over is Scope 2. The tech firm’s primary approach to reducing Scope 2 emissions is through the procurement of carbon-free energy. 

In 2020, Google set a goal to operate on 24/7 carbon-free energy (CFE)—every hour of every day on every grid where it operates—by 2030. This goal is being pursued through three main initiatives: purchasing carbon-free energy, accelerating new and improved technologies, and transforming the energy system through policy, partnerships, and advocacy.

The company buys electricity directly from new clean energy projects through various methods depending on the market, including:

Contracting directly via long-term power purchase agreements (PPAs).
Working with utilities or developers to buy and deliver carbon-free energy.
Structuring energy supply contracts with energy providers through the CFE Manager model.
Making targeted investments in renewable energy to enable additional projects on the grids where it operates.

From 2010 to 2023, Google signed more than 115 agreements to purchase over 14 GW of clean energy generation capacity—the equivalent of more than 36 million solar panels. Through these agreements, Google estimates it will spend more than $16 billion to purchase clean energy through 2040.

In 2023, Google signed contracts to purchase approximately 4 GW of clean energy generation capacity—more than in any prior year. These contracts included clean energy deals in North America, Europe, and Asia Pacific. 

RELATED NEWS: Google and NV Energy: Powering Nevada’s Future with 115 MW of Geothermal Energy

In early 2024, Google announced new PPAs—including its largest offshore wind projects to date—that will bring 700 MW of clean energy generation capacity to European grids.

Google’s commitment to achieving net zero emissions by 2030 involves a comprehensive strategy of reducing emissions, investing in carbon removal, and pursuing 24/7 carbon-free energy. Despite challenges like increased energy demands from AI, Google’s innovative approaches and significant investments are driving progress towards a greener digital future.

The post Google’s Soaring Revenue of $85 Billion Shadowed by Rising Carbon Footprint appeared first on Carbon Credits.

With the global energy transition looming large, many have been setting their sights on materials critical to the energy transition, such as copper, lithium, or uranium.

Nickel is yet another mineral on that list, albeit one that seems to have largely flown under most investors’ radars thus far.

It’s understandable why that’s been the case – after all, the primary use for mined nickel has long been industrial, with over three-quarters of global nickel demand being for things like alloy production or electroplating.

However, there’s one avenue of “green” demand for nickel that’s been slowly yet steadily driving up consumption – and that’s electric vehicle (EV) batteries.

Last year, the average battery EV sold contained 25.3 kilograms of nickel – and that number has been going up year over year

Nickel is one of the key components of the lithium-ion batteries that power EVs worldwide, thanks to its unique physical and chemical properties.

In order to be used in an electric vehicle, nickel must first be refined to extremely high purities, creating what’s known as “battery grade” nickel. Following this, it then needs to be dissolved in sulphuric acid to create nickel sulphate, which can then be used to produce battery cathodes.

Nickel’s high energy density, which allows it to hold more charge for less weight, makes high-nickel battery chemistries more desirable in EV batteries. While the first iterations of the lithium-ion battery used equal proportions of nickel with manganese and cobalt, modern ones use as much nickel as manganese and cobalt combined.

And as technology continues to progress, it’s expected that the ratio will rise to as much as 80% nickel, or even more.

That’s why nickel is now on the critical minerals list of several countries including the US, the EU, and Japan.

RELATED: Top 3 Nickel Stocks for 2024

The Lights Are Green for Nickel.

EV manufacturers are adding more and more nickel to their batteries each year in order to increase the efficiency and range of their vehicles.

EVs sold in 2023 contained 8% more nickel, on average, than those sold a year previous

Combine that with the fact that EV sales are expected to continue growing at a breakneck pace, and what you end up with is very healthy outlook for long-term nickel demand.

Below you can see two charts created by the International Energy Agency. The one on the left forecasts nickel demand growth out to 2050 based on currently existing climate pledges, while the one on the right shows the same but in a more aggressive net zero scenario:

You can see that, regardless of which scenario we consider, nickel demand is expected to more than double over the next decade – the only question is how fast we get there.

Even in the conservative case where no more climate pledges are made in the coming years, as in the chart on the left, EV and cleantech demand for nickel is still expected to massively drive nickel’s demand growth.

Last year, total nickel demand amounted to 3.1 million tonnes, of which 478,000 came from EVs and cleantech. This latter portion is expected to grow to 2 million tonnes of nickel demand by 2030 and 3.4 million tonnes by 2040 in the base case – and it could easily be more, if governments around the world pursue additional climate targets

While all scenarios do see nickel consumption plateauing and falling off slightly towards the tail end of 2050 due to forecast lower demand for nickel-rich battery chemistries, there’s still a 9x increase in nickel demand for EV batteries and other cleantech even in the conservative case.

Simply put, the future for nickel looks tremendous.

However, the recent price performance of nickel seems to tell a different story:

And that’s because of the other half of the picture: nickel supply.

But There’s a Supply Jam . . .

Despite how strong the demand outlook for nickel looks, there’s no escaping the fact that right now, supply far outstrips demand.

And there’s exactly one factor we can point to for this: Indonesia.

In the past ten years, Indonesia has accelerated the pace of nickel mine development domestically, thanks to heavy Chinese investment.

In 2014, Indonesia produced just 7% of the world’s nickel, with just two nickel smelters. 10 years later in 2023, Indonesia now accounts for just over 50% of global production, with 43 operational smelters and another 52 on the way

Indonesia received $7.3 billion in foreign investment from China’s Belt and Road Initiative in 2023, the largest of any participating country. 90% of the nickel smelters in Indonesia were built by Chinese companies, and most of the mines are Chinese owned as well.

Thanks to the extensive Chinese involvement, the lower labor costs and environmental standards for nickel mines in Indonesia have also led to lower production costs. Nickel from Indonesian mines is cheaper to produce than it is on other countries like Australia or Canada.

This breakneck growth of Indonesian production, during a weak price environment where other producers have scaled back, has contributed to Indonesia’s rise to prominence as the top global nickel producer.

It’s expected that the nickel market will see a surplus of 36,000 tonnes this year, according to a recent report from Macquarie. And it’s unlikely that the nickel market will balance out until after 2025.

Further Down the Road, the Outlook Looks Rosy

Despite how the supply and demand balance looks right now, however, it’s not expected to stay that way as we near the end of the decade.

As the chart above shows, based on current announced mine supply, the nickel market is expected to enter a supply deficit shortly after 2025 – and this shortfall is expected to widen considerably in the decade following, even in the conservative scenario (the solid line).

In other words, even though the current low nickel price environment is discouraging investment, it’ll also create more opportunities down the road thanks to the eventual supply-demand gap that will widen due to the current lack of interest in nickel mining.

Furthermore, as you might recall, in order to be used in EV batteries nickel needs to be further processed into nickel sulphate, which is something not all raw nickel refineries are built to do.

The supply shortfall for nickel sulphate is expected to see an even wider gap than for mined nickel. That said, processing facilities for nickel sulphate can be built on the order of 18-24 months – much quicker than a mine, which is often a years-long process that can get bogged down in studies and permitting.

Even so, the sheer amount of additional nickel sulphate supply required represents yet another opportunity in the nickel markets.

In the near term, it’s likely that nickel prices will continue to stay weak as supply continues to outpace demand. As we near the end of the decade and the push towards net zero continues to accelerate, however, the projected supply-demand gap might just leave the nickel market in significantly different shape than how it looks now.

The post The Ultimate Guide to Nickel appeared first on Carbon Credits.

President Joe Biden’s decision to withdraw presidential election this Sunday marks a significant turn in American politics. During his tenure, the country has seen the introduction, establishment, and amendment of numerous climate policies involving massive investments. The past four years under the Biden administration have been eventful from a climate change perspective. Let’s refresh our memory on the climate agendas rolled out by this government.

Key Highlights of Biden’s Climate Change Plan

“That’s why, when people talk about climate, I think jobs.  Within our climate response lies an extraordinary engine of job creation and economic opportunity ready to be fired up.  That’s why I’ve proposed a huge investment in American infrastructure and American innovation to tap the economic opportunity that climate change presents our workers and our communities, especially those too often that have — left out and left behind.”

-Remarks by President Biden at the Virtual Leaders Summit on Climate Opening Session (source: The White House)

Rejoined the Paris Agreement

From day one, Biden initiated the process for the U.S. to rejoin the Paris Agreement. The U.S. officially re-entered the agreement shortly after. Biden issued an executive order on tackling the “Climate Crisis at Home and Abroad”, creating the position of Special Presidential Envoy for Climate and announcing several high-level climate summits. Later, he set a target to reduce carbon emissions by at least 50% below 2005 levels by 2030. That was a historic announcement!

LATEST: Is Biden’s $8 Billion American Climate Corps Budget Worth It?

Signed the Inflation Reduction Act

He signed the Inflation Reduction Act in August 2022. Notably, it’s one of the most critical climate agendas of America. It includes significant investments in climate protection, such as tax credits for households to reduce energy costs, funding for clean energy production, and incentives to lower carbon emissions. The administration concentrated on creating tax credit guidelines and initiating programs to execute its various clean energy measures. To achieve excellence in climate action, they needed to maintain prompt and fair implementation of the legislation while also filling policy gaps.

 Climate-Smart Stimulus Package to Revive from COVID-19.

Biden proposed a $2 trillion climate-smart stimulus package to boost the domestic economy, create jobs, and expand America’s clean energy sector. It surpassed the investments made in the 2009 economic recovery package. He prioritized modernizing the electricity grid, electrifying schools, and transit buses, enhancing the transportation system, upgrading public schools, boosting industrial innovation, and restoring trees to the landscape.

Biden committed to ensuring that at least 40% of the funding benefits go to the less-privileged communities. These investments targeted both short-term and long-term emissions-reduction goals. They installed solar, wind, heat pumps, and electric vehicles to cut costs. At the same time, they invested in future technologies which included the heavy emission sectors like steel, geothermal systems, and clean hydrogen.

READ MORE: US EPA to Invest $20B in Climate and Clean Energy Projects for Underserved Communities

Curb Hydrofluorocarbons (HFCs) and Methane Action Plan

The President ratified the Kigali Amendment to reduce hydrofluorocarbons (HFCs) in September 2022. The EPA issued regulations to phase down HFCs under the American Innovation and Manufacturing Act of 2020.

In November 2022, the Biden administration updated the Methane Action Plan with 50 measures supported by $20 billion from various laws. The Inflation Reduction Act introduced a methane emissions fee for oil and gas facilities, starting in 2024 and increasing to $1,500 per metric ton by 2026. At the 2023 UN climate summit (COP28), the administration announced strict standards to reduce methane emissions from the oil and gas sector. On January 12, 2024, the EPA proposed rules to enforce this fee.

Biden helped launch the Global Methane Pledge at the 2021 UN Climate Summit (COP26). By December 2023, 155 countries had committed to cutting their methane emissions by at least 30% by 2030.

source: World Resources Institute

Biden’s Milestones for the Energy Sector

Offshore wind was a crucial part of Biden’s promise to combat climate change that would generate jobs and enhance the economy. Biden approved the first U.S. offshore wind project and set new standards to cut methane emissions, which will prevent the equivalent of 1.5 billion tons of CO2. The American Clean Power Association (ACP) projected around 14 GW of offshore wind capacity along U.S. coastlines by 2030. This fell short of the 30 GW goal set by President Joe Biden’s administration in 2021 to boost the domestic energy industry.

MORE DETAILS: Transforming the American Clean Energy Landscape Under Biden’s Era

Biden and the EPA introduced national carbon pollution standards, mandating a 90% reduction in emissions from coal and new gas plants. They also modernized the federal environmental review process under the National Environmental Policy Act (NEPA). The rule introduces a new permit for efficiencies from the Fiscal Responsibility Act of 2023.

Biden also transformed the energy-efficiency standards for residential water heaters. These standards cut energy waste and carbon pollution. He envisioned that this would save nearly $1 trillion over 30 years and reduce utility bills by $100 or more per year for the average family.

Image: EIA projects renewables share of the U.S. electricity generation mix will double by 2050

Finally, Biden signed the ADVANCE Act in July this year to support advanced nuclear technologies and the continued operation of existing nuclear plants. Recently, President Biden signed The Prohibiting Russian Uranium Imports Act to strengthen America’s energy and economic security, and eventually eliminate reliance on Russia for nuclear power.

 MUST READ: U.S. DOE Aims to Expand Domestic Uranium Supply with US$2.7B RFP

Investments in CDR projects

On May 19, 2022, the U.S. Department of Energy (DOE) announced a $3.5 billion funding opportunity from the Bipartisan Infrastructure Law to capture and store CO2 directly from the air. The Regional Direct Air Capture Hubs program supported four large-scale hubs with carbon dioxide removal (CDR) projects. These hubs created jobs, engaged communities, and advanced environmental justice. Alongside other decarbonization efforts, this technology played a key role in achieving President Biden’s net-zero economy goal by 2050.

KNOW HOW: $100B Carbon Market Could Drive $700B Annual Investments in Projects

Curbing Transport Emissions

During his early tenure in 2021, Biden signed the bipartisan Infrastructure Act, allocating over $100 billion for rail, mass transit, charging stations, and zero-emission ferries and buses.

On March 29, 2024, the Biden-Harris Administration finalized the historic greenhouse gas standards ever for heavy-duty vehicles. This action protects public health, addresses the climate crisis, and keeps the American economy moving. The EPA adopted new emission rules for cars, aiming to cut 50% of CO2 emissions by 2032 and mitigate 7 billion tons of CO2 in the next 30 years. This rule can eliminate more GHG emissions than any other climate rule in U.S. history.

This year EPA also issued carbon emissions limits for heavy trucks, estimating a prevention of 1 billion tons of CO2 emissions. It introduced 3,400 electric school buses, and Biden released $1.7 billion for electric vehicle manufacturing. Additionally, the government released new standards for biofuels.

LATEST: New EPA GHG Standards for Trucks to Cut 60% Emissions by 2032

Despite global challenges, the U.S. has set strong examples in tackling climate change. President Joe Biden’s groundbreaking initiatives have significantly transformed the climate landscape. As America approaches a new presidential term, we hope the new leader continues to take responsible actions and drive further progress in combating climate change.

FURTHER READING: Multi-Billion Dollar U.S. Clean Energy Tax Credits Are Here

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