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2024.05.14 17:59 Then_Marionberry_259 MAY 14, 2024 MAG.TO MAG SILVER REPORTS FIRST QUARTER FINANCIAL RESULTS
https://preview.redd.it/w3wbxgjzze0d1.png?width=3500&format=png&auto=webp&s=c343619687a11525804d04f755c495d975b2050d submitted by Then_Marionberry_259 to Treaty_Creek [link] [comments] VANCOUVER, British Columbia, May 14, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”, or the “Company”) announces the Company’s unaudited consolidated financial results for the three months ended March 31, 2024 (“Q1 2024”). For details of the unaudited condensed interim consolidated financial statements of the Company for the three months ended March 31, 2024 (“Q1 2024 Financial Statements”) and management’s discussion and analysis for the three months ended March 31, 2024 (“Q1 2024 MD&A”), please see the Company’s filings on the System for Electronic Document Analysis and Retrieval Plus (“SEDAR+”) at ( www.sedarplus.ca ) or on the Electronic Data Gathering, Analysis, and Retrieval (“EDGAR”) at ( www.sec.gov ). All amounts herein are reported in $000s of United States dollars (“US$”) unless otherwise specified (C$ refers to Canadian dollars). KEY HIGHLIGHTS (on a 100% basis unless otherwise noted)
1 Adjusted EBITDA, total cash costs, cash cost per ounce, all-in sustaining costs, all-in sustaining cost per ounce and free cash flow are non-IFRS measures, please see below ‘ Non-IFRS Measures ’ section and section 12 of the Q1 2024 MD&A for a detailed reconciliation of these measures to the Q1 2024 Financial Statements. 2 Equivalent silver head grade and equivalent silver production have been calculated using the following price assumptions to translate gold, lead and zinc to “equivalent” silver head grade and “equivalent” silver production: $23/oz silver, $1,950/oz gold, $0.95/lb lead and $1.15/lb zinc. 3 Equivalent silver ounces sold have been calculated using realized price assumptions to translate gold, lead and zinc to “equivalent” silver ounces sold (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices of $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc. CORPORATE
4 Information contained in or otherwise accessible through the Company’s website, including the 2022 sustainability report and MAG Silver 2022 ESG Data Table, do not form part of this News Release and are not incorporated into this News Release by reference. EXPLORATION
https://preview.redd.it/qdr6asmzze0d1.png?width=720&format=png&auto=webp&s=aaedd0020755eaf3404201557cc9623acc995125 JUANICIPIO RESULTS All results of Juanicipio in this section are on a 100% basis, unless otherwise noted. Operating Performance The following table and subsequent discussion provide a summary of the operating performance of Juanicipio for the three months ended March 31, 2024 and 2023, unless otherwise noted. https://preview.redd.it/9txq8snzze0d1.png?width=720&format=png&auto=webp&s=0089cf57573e8834bdb641cf9e055619e6f6c5b2 (1) Equivalent silver head grades have been calculated using the following price assumptions to translate gold, lead and zinc to “equivalent” silver head grade: $23/oz silver, $1,950/oz gold, $0.95/lb lead and $1.15/lb zinc (Q1 2023: $21.85/oz silver, $1,775/oz gold, $0.915/lb lead and $1.30/lb zinc). (2) Equivalent silver payable ounces have been calculated using realized price assumptions to translate gold, lead and zinc to “equivalent” silver payable ounces (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices of $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc (Q1 2023 realized prices of $22.93/oz silver, $1,959.50/oz gold, $0.94/lb lead and $1.43/lb zinc). During the three months ended March 31, 2024 a total of 325,081 tonnes of ore were mined. This represents an increase of 45% over Q1 2023. Increases in mined tonnages at Juanicipio have been driven by the operational ramp up of the mine towards steady state targets. During the three months ended March 31, 2024 a total of 325,683 tonnes of ore were processed through the Juanicipio plant; no ore was processed at the nearby Fresnillo and Saucito processing plants (100% owned by Fresnillo). This represents an increase of 47% over Q1 2023. The increase in milled tonnage has been driven by the Juanicipio mill commissioning and operational ramp up to nameplate capacity over the course of 2023. The silver head grade and equivalent silver head grade for the ore processed in the three months ended March 31, 2024 was 476 g/t and 713 g/t, respectively (three months ended March 31, 2023: 363 g/t and 530 g/t, respectively). Head grades in Q1 2023 were lower as low-grade commissioning stockpiles were processed through the Juanicipio plant. Silver metallurgical recovery during Q1 2024 was 89.1% (Q1 2023: 87.0%) reflecting ongoing optimizations in the processing plant. The following table provides a summary of the total cash costs 5 and all-in sustaining costs 5 (“AISC”) of Juanicipio for the three months ended March 31, 2024, and 2023. https://preview.redd.it/riqz1yozze0d1.png?width=720&format=png&auto=webp&s=c5f2edde6bc789d2d379ca3a910beaa1cb262bde ________________________ 5 Total cash costs, cash cost per ounce, cash cost per equivalent ounce, all-in sustaining costs, all-in sustaining cost per ounce, and all-in sustaining cost per equivalent ounce are non-IFRS measures, please see the “ Non-IFRS Measures ” section below and section 12 of the Q1 2024 MD&A for a detailed reconciliation of these measures to the Q1 2024 Financial Statements. Equivalent silver ounces sold have been calculated using realized price assumptions to translate gold, lead and zinc to “equivalent” silver ounces sold (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices of $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc (Q1 2023: $22.93/oz silver, $1,959.50/oz gold, $0.94/lb lead and $1.43/lb zinc). Financial Results The following table presents excerpts of the financial results of Juanicipio for the three months ended March 31, 2024 and 2023. https://preview.redd.it/4zym5dqzze0d1.png?width=720&format=png&auto=webp&s=d25c91cabc7f6c6b35ff61acacc0160f3dfac2e7 Sales increased by $72,207 during the three months ended March 31, 2024, mainly due to 179% higher metal volumes and 2% higher realized metal prices. Offsetting higher sales was higher production cost ($9,409) which was driven by higher sales and operational ramp-up in mining and processing, including $3,545 in inventory movements, and higher depreciation ($14,083) as the Juanicipio mill achieved commercial production and commenced depreciating the processing facility and associated equipment in June 2023. Operating margin increased by 21% to 52%, mainly due to operational leverage and the lower reliance on the nearby Fresnillo and Saucito processing facilities. Other expenses increased by $2,159 mainly as a result of higher extraordinary mining and other duties ($872) in relation to higher precious metal revenues from the sale of concentrates and higher consulting and administrative expenses ($2,690) as an operator services agreement became effective upon initiation of commercial production (the “Operator Services Agreement”), offset by lower exchange losses and other costs ($1,566). Taxes increased by $20,980 impacted by higher taxable profits generated during Q1 2024, and non-cash deferred tax credits related to the commencement of use of plant and equipment in Q1 2023. Ore Processed at Juanicipio Plant (100% basis) https://preview.redd.it/koajybrzze0d1.png?width=720&format=png&auto=webp&s=caf1b70c53c47d371b9cebd743877fcd4ae59ba3 (1) The underground mine was considered readied for its intended use on January 1, 2022, whereas the Juanicipio processing facility started commissioning and ramp-up activities in January 2023, achieving commercial production status on June 1, 2023. (2) Includes toll milling costs from processing mineralized material at the Saucito and Fresnillo plants for Q1 2023. Sales and treatment charges are recorded on a provisional basis and are adjusted based on final assay and pricing adjustments in accordance with the offtake contracts. MAG FINANCIAL RESULTS – THREE MONTHS ENDED MARCH 31, 2024 As at March 31, 2024, MAG had working capital of $72,833 (December 31, 2023: $67,262) including cash of $74,683 (December 31, 2023: $68,707) and no long-term debt. As well, as at March 31, 2024, Juanicipio had working capital of $107,088 including cash of $30,991 (MAG’s attributable share is 44%). The Company’s net income for the three months ended March 31, 2024 amounted to $14,895 (March 31, 2023: $4,713) or $0.14/share (March 31, 2023: $0.05/share). MAG recorded its 44% income from equity accounted investment in Juanicipio of $19,244 (March 31, 2023: $7,919) which included MAG’s 44% share of net income from operations as well as loan interest earned on loans advanced to Juanicipio (see above for MAG’s share of income from its equity accounted investment in Juanicipio). https://preview.redd.it/5bneimszze0d1.png?width=720&format=png&auto=webp&s=323d988dbd92cf6ca4e815fff071c8ec7f45ee00 NON-IFRS MEASURES The following table provides a reconciliation of cash cost per silver ounce of Juanicipio to production cost of Juanicipio on a 100% basis (the nearest IFRS measure) as presented in the notes to the Q1 2024 Financial Statements. https://preview.redd.it/0jhh2stzze0d1.png?width=720&format=png&auto=webp&s=c97634763bd00967ddd878bc09b8e069687fae68 (1) As Q3 2023 represented the first full quarter of commercial production, information presented for total cash costs together with their associated per unit values are not directly comparable. (2) By-product revenues relates to the sale of other metals namely gold, lead, and zinc. (3) Equivalent silver payable ounces have been calculated using realized prices to translate gold, lead and zinc to “equivalent” silver payable ounces (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices: $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc (Q1 2023: $22.93/oz silver, $1,959.50/oz gold, $0.94/lb lead and $1.43/lb zinc). The following table provides a reconciliation of AISC of Juanicipio to production cost and various operating expenses of Juanicipio on a 100% basis (the nearest IFRS measure), as presented in the notes to the Q1 2024 Financial Statements. https://preview.redd.it/qkx2r5vzze0d1.png?width=720&format=png&auto=webp&s=0c9cb89471512649ac77b5cbe3177b0621d64835 (1) As Q3 2023 represented the first full quarter of commercial production, information presented for all-in sustaining costs and all-in sustaining margin together with their associated per unit values are not directly comparable. (2) Equivalent silver payable ounces have been calculated using realized prices to translate gold, lead and zinc to “equivalent” silver payable ounces (metal quantity, multiplied by metal price, divided by silver price). Q1 2024 realized prices: $23.73/oz silver, $2,112.27/oz gold, $0.92/lb lead and $1.08/lb zinc, (Q1 2023 realized prices: $22.93/oz silver, $1,959.50/oz gold, $0.94/lb lead and $1.43/lb zinc). For the three months ended March 31, 2024 the Company incurred corporate G&A expenses of $3,964 (three months ended March 31, 2023: $3,262), which exclude depreciation expense. The Company’s attributable silver ounces sold and equivalent silver ounces sold for the three months ended March 31, 2024 were 1,757,630 and 2,475,862 respectively (three months ended March 31, 2023: 880,429 and 1,230,412 respectively), resulting in additional all‐in sustaining cost for the Company of $2.26/oz and $1.60/oz respectively (three months ended March 31, 2023: $3.71/oz and $2.65/oz respectively), in addition to Juanicipio’s all-in-sustaining costs presented in the above table. The following table provides a reconciliation of EBITDA and Adjusted EBITDA attributable to the Company based on its economic interest in Juanicipio to net income (the nearest IFRS measure) of the Company per the Q1 2024 Financial Statements. All adjustments are shown net of estimated income tax. https://preview.redd.it/sx6jo7wzze0d1.png?width=720&format=png&auto=webp&s=1fea9df2b8195ce579b570935ab24b9939da5988 (1) As Q3 2023 represents the first full quarter of commercial production, information presented for EBITDA and Adjusted EBITDA is not directly comparable. The following table provides a reconciliation of free cash flow of Juanicipio to its cash flow from operating activities on a 100% basis (the nearest IFRS measure), as presented in the notes to the Q1 2024 Financial Statements. https://preview.redd.it/aqnp2dxzze0d1.png?width=720&format=png&auto=webp&s=56db2245eb87ec1f718edc1890b48b9b5d3ad762 (1) As Q3 2023 represents the first full quarter of commercial production, comparative information presented for free cash flow of Juanicipio is not directly comparable. Qualified Persons: All scientific or technical information in this press release including assay results referred to, and mineral resource estimates, if applicable, is based upon information prepared by or under the supervision of, or has been approved by Gary Methven, P.Eng., Vice President, Technical Services and Lyle Hansen, P.Geo, Geotechnical Director; both are “Qualified Persons” for purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects About MAG Silver Corp. MAG Silver Corp. is a growth-oriented Canadian exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is emerging as a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day Juanicipio Mine, operated by Fresnillo plc (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to underground mine production and processing of high-grade mineralised material, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the 100% earn-in Deer Trail Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada. Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management. Certain information contained in this release, including any information relating to MAG’s future oriented financial information, are “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation (collectively herein referred as “forward-looking statements”), including the “safe harbour” provisions of provincial securities legislation, the U.S. Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended and Section 27A of the U.S. Securities Act. Such forward-looking statements include, but are not limited to:
Forward-looking statements are necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control and many of which, regarding future business decisions, are subject to change. Assumptions underlying the Company’s expectations regarding forward-looking statements contained in this release include, among others: MAG’s ability to carry on its various exploration and development activities including project development timelines, the timely receipt of required approvals and permits, the price of the minerals produced, the costs of operating, exploration and development expenditures, the impact on operations of the Mexican tax and legal regimes, MAG’s ability to obtain adequate financing, outbreaks or threat of an outbreak of a virus or other contagions or epidemic disease will be adequately responded to locally, nationally, regionally and internationally. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements including amongst others: commodities prices; changes in expected mineral production performance; unexpected increases in capital costs or cost overruns; exploitation and exploration results; continued availability of capital and financing; general economic, market or business conditions; risks relating to the Company’s business operations; risks relating to the financing of the Company’s business operations; risks related to the Company’s ability to comply with restrictive covenants and maintain financial covenants pursuant to the terms of the Credit Facility; the expected use of the Credit Facility; risks relating to the development of Juanicipio and the minority interest investment in the same; risks relating to the Company’s property titles; risks related to receipt of required regulatory approvals; pandemic risks; supply chain constraints and general costs escalation in the current inflationary environment heightened by the invasion of Ukraine by Russia and the events relating to the Israel-Hamas war; risks relating to the Company’s financial and other instruments; operational risk; environmental risk; political risk; currency risk; market risk; capital cost inflation risk; risk relating to construction delays; the risk that data is incomplete or inaccurate; the risks relating to the limitations and assumptions within drilling, engineering and socio-economic studies relied upon in preparing economic assessments and estimates, including the 2017 PEA; as well as those risks more particularly described under the heading “Risk Factors” in the Company’s Annual Information Form dated March 27, 2023 available under the Company’s profile on SEDAR+ at www.sedarplus.ca . Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and, other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change. For the reasons set forth above, investors should not attribute undue certainty to or place undue reliance on forward-looking statements. Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at www.sedarplus.ca and www.sec.gov LEI: 254900LGL904N7F3EL14 For further information on behalf of MAG Silver Corp. Contact Michael J. Curlook, Vice President, Investor Relations and Communications Phone: (604) 630-1399 Toll Free: (866) 630-1399 Email:info@magsilver.comhttps://preview.redd.it/d8wzg8yzze0d1.jpg?width=66&format=pjpg&auto=webp&s=a39ec6a39761447bbd4dbd77e92aef49e95e583e https://preview.redd.it/qr1wv0zzze0d1.png?width=4000&format=png&auto=webp&s=fadeb32c9245f8b70d903b1c70321decddf77985
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2024.05.14 17:40 Chico237 #NIOCORP~ Tariffs Are Coming For EV's & Critical Minerals In US, Washington places NEW tariffs on $18 billion in Chinese imports in a new warning to Beijing, & a bit more....
MAY 14th, 2024~Tariffs Are Coming For Critical Minerals In USTariffs Are Coming For Critical Minerals In US the deep divehttps://preview.redd.it/5sbc7i63te0d1.png?width=800&format=png&auto=webp&s=62917af688d960caf78c1a132e39c9bab45c9094US President Joe Biden recently unveiled a series of measures directed for an increase in tariffs on $18 billion worth of imports from China. This directive, made under Section 301 of the Trade Act of 1974, is aimed “to protect American workers and businesses” from the adverse effects of “China’s unfair trade practices,” including technology transfer and intellectual property violations, as well as market flooding with artificially low-priced exports. As part of this initiative, tariffs on critical minerals and components vital for the electric vehicle (EV) industry and clean energy sectors will see substantial hikes. Beginning in 2024, the tariff rate on lithium-ion EV batteries and battery parts will rise from 7.5% to 25%. By 2026, tariffs on lithium-ion non-EV batteries and natural graphite will also increase to 25%. Additionally, certain other critical minerals will face a tariff increase from zero to 25% starting in 2024. These measures align with Biden’s broader economic strategy, encapsulated in the Investing in America agenda, which the White House has already boasted to have spurred “more than $860 billion in business investments” across future-focused industries such as EVs, clean energy, and semiconductors. This agenda is further supported by legislative frameworks like the Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act. Currently, China dominates over 80% of specific segments in the EV battery supply chain, especially in critical minerals mining, processing, and refining. This concentration poses significant risks to U.S. supply chain resilience and national security, prompting the Biden administration to invest nearly $20 billion in grants and loans to expand domestic production capacity for advanced batteries and battery materials. The Inflation Reduction Act also offers tax credits to stimulate investments in U.S.-based battery production. In connection, Biden has launched the American Battery Materials Initiative to secure a reliable supply chain for batteries and their components, employing a comprehensive governmental approach to build domestic industrial strength. Some observers note that this law could further exacerbate the inflation situation. “Not only are we killing fossil fuel investment. But we’re making the green energy transition even more expensive,” said industry observer Brandon Beylo on X, adding to highlight that “the US doesn’t have domestic infrastructure to pick up the slack.” MAY 14th, 2024,~TARIFFS ON CHINESE EVS, CRITICAL MINERALSBiden Raises Tariffs On Chinese EVs, Critical Minerals (fordauthority.com)Biden Raises Tariffs On Chinese EVs, Critical Minerals (fordauthority.com)In recent months, more than one Ford executive – including CEO Jim Farley himself – have expressed concerns about the possibility that cheap Chinese EVs may wind up making it to U.S. soil, flooding the market and making life quite difficult for domestic companies like The Blue Oval. While Ford continues to work on developing its own low-cost EV platform and consumers admit they’d be willing to buy Chinese EVs if they’re cheaper than American-made ones, many politicians are also calling for those vehicles to be banned from U.S. soil, and Mexico recently took steps to prevent that from happening, too. The Biden Administration has been mulling its options for months now, and has long been expected to at least raise tariffs on Chinese EVs – and now, that’s precisely what has happened.https://preview.redd.it/8o18yufdte0d1.png?width=850&format=png&auto=webp&s=65e1f436eccdfb575be8ff3dce5787e6567d05bc Additionally, the Biden Administration will also move to increase the tariff rate on EV batteries and the raw materials that are used in their construction. Lithium-ion batteries will get a tariff rate boost from 7.5 percent to 25 percent in 2024, while others will jump to 25 percent in 2026. Battery components will get an increase from 7.5 percent to 25 percent this year as well, while natural graphite and permanent magnets will increase from zero to 25 percent in 2026 and certain other critical minerals will go from zero to 25 percent in 2024. MAY 14th 2024, ~Biden to increase tariffs on $18 billion in Chinese imports in a new warning to Beijing:Biden to increase tariffs on $18 billion in Chinese imports in a new warning to Beijing CNN Politicshttps://preview.redd.it/bwyycx9fqe0d1.png?width=1000&format=png&auto=webp&s=ba7ba4b426e84e4ee0424c0cf608b89772d6140cWashington — is increasing tariffs on $18 billion in Chinese imports across a handful of sectors deemed strategic to national security – an attempt to cripple Beijing’s development of critical technologies and instead prioritize US production. The increases will apply to imported steel and aluminum, legacy semiconductors, electric vehicles, battery components, critical minerals, solar cells, cranes and medical products. The new tariff rates – which range from 100% on electric vehicles, to 50% for solar components, to 25% for all other sectors – will take place over the next two years. “China’s using the same playbook it has before to power its own growth at the expense of others,” said Lael Brainard, director of the White House National Economic Council. “China’s simply too big to play by its own rules.” Biden’s predecessor, former President Donald Trump, enacted a sweeping tariff program on $300 billion in Chinese imports during his administration, drawing authority from a provision in US trade law that allows tariffs to be used to stifle competition that would threaten national security interests. That same trade law also requires the effectiveness of such tariff programs to be evaluated every four years, and the Biden administration decision is the result of that study. CNN previously reported on the forthcoming changes. White House officials said they also redrew the parameters of the program to reflect the Biden administration’s policy priorities, most notably the transition to clean energy. “China can’t be the only country that produces clean technology for the world we need,” a senior administration official said. “We need diversified, not concentrated, production of our most critical goods and technologies. … That’s the kind of dynamic we think will produce resilient supply chains and clean technology.” Electric vehicles imported from China will see their tariffs more than quadrupled from 27.5% to 100% – a policy lever meant to challenge Beijing’s practice of encouraging aggressively low pricing by domestic EV manufacturers while levying a 40% tariff on US car imports. Chinese manufacturer BYD’s Seagull electric vehicle retails for roughly $10,000, a fraction of what rival American products cost. “It was important to have a large enough step-up in the tariffs to ensure that we try to level the playing field,” a second senior administration official said. Beijing has been known to introduce costly counterpunches. Chinese foreign ministry spokesperson Wang Wenbin told reporters Tuesday that China opposes “the unilateral imposition of tariffs which violate (World Trade Organization) rules, and will take all necessary actions to protect its legitimate rights.” After Trump unveiled his wide-ranging tariff policy, China slapped tariffs on $101.4 billion in US exports, retaliation that the Brookings Institute estimated affected 294,000 American export-related jobs. The White House has declined to speculate on how Beijing may hit back now. Officials have pointed to parallel investigations by partners in Europe, Brazil and Turkey as bolstering their position. “China is producing [goods] at a rate and with a trajectory that’s far in excess of any plausible estimate of global demand,” the first senior administration official said. Treasury Secretary Janet Yellen and Secretary of State Antony Blinken each raised that point with Chinese counterparts during formal visits to the country in April. Administration officials discussed releasing the changes in April to set the stage for a tariff speech Biden delivered mid-month, but ultimately held off to preserve the diplomatic visits, according to two sources familiar with the matter. On April 17, Biden spoke at the United Steelworkers headquarters in Pittsburgh, calling for a tripling of tariffs Trump placed on certain steel and aluminum products imported from China, and a new investigation into unfair shipbuilding practices. The Chinese government, Biden argued, is providing state money to Chinese steel companies to make more steel than the economy demands, pushing down the price and making it impossible for other companies to compete. “They’re not competing,” Biden said of China. “They’re cheating.”It’s a message that plays favorably across the so-called blue wall, the handful of Midwest manufacturing-heavy states that will be critical for either candidate during an election where trade will once again figure prominently.It played less favorably across the Pacific, with China’s Ministry of Commerce accusing the US of “false accusations” and “wrong practices.” In a separate executive order issued on Monday, Biden forced MineOne, a Chinese-backed cryptocurrency mining company, to sell its land near the Francis E. Warren Air Force Base in Wyoming. The order said MineOne’s close proximity to the Air Force base raises national security risks due to the company’s use of “specialized and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities.” The decision comes amid recent attempts by Washington to limit Chinese companies’ influence on US consumers and national security, especially ahead of the 2024 presidential elections in November. MAY 14th, 2024 ~Australia to invest $15 billion in renewable energy, critical minerals:Australia to invest $15 billion in renewable energy, critical minerals Reutershttps://preview.redd.it/l9hz7al2re0d1.png?width=720&format=png&auto=webp&s=7f87282aa39b37282b61b375e0617bb963e9f299SYDNEY, May 14 (Reuters) - The Australian government on Tuesday announced a A$22.7 billion ($15.0 billion) package to boost domestic manufacturing and renewable energy as the country seeks to reduce its reliance on foreign suppliers for key technologies. Details of the Future Made in Australia package announced in the government's annual budget included billions in subsidies for the emerging critical minerals and clean energy industries and efforts to reduce red tape for investors in the sector. The spending will be made over the next decade and comes as major economies invest billions to support clean energy projects and compete with China in manufacturing electric vehicles and semiconductors, seen as vital for prosperity and national security. Australian Treasurer Jim Chalmers said the budget invested in the country's ambitions to become a "renewable energy superpower". "The world is committed to net zero by 2050," Chalmers said in his budget speech. "This will demand the biggest transformation in the global economy since the industrial revolution." The package will introduce tax incentives worth A$7 billion for the processing and refining of 31 critical minerals and A$6.7 billion for renewable hydrogen production from the fiscal year ending June 2028 to the 2039-40 fiscal year. Additionally, A$1.5 billion will support investment in the domestic production of solar panels and the battery supply chain. While Australian factories enjoy close proximity to essential raw materials used in production, they have for decades struggled to compete globally due to high labour costs and distance from major international markets. Australia wants to build a battery chemicals industry to reap more value from its mineral wealth, but the nickel sector is facing thousands of job cuts after a jump in Indonesian supply saw prices plunge. Earlier this year, Prime Minister Anthony Albanese's government classified nickel as a "critical mineral", allowing the local industry access to billions of dollars in cheap government loans. FORM YOUR OWN OPINIONS & CONCLUSIONS ABOVE:Should be interesting for U.S. Critical Minerals & Mining operations, U.S. Automakers like Stellantis & other industries like U.S. Steel & Aluminum as the playing field continues to even out! Bodes Well for Niocorp & everything they will produce once FINANCED!FULL STEAM AHEAD! Chico |
2024.05.14 17:40 TheMadTitan1 Flexbox help, I'm a bit confused.
2024.05.14 17:40 Never_Answers_Right When recreating historical workwear, how do I get wide ranges of movement from flatter shapes?
(In these pictures, I left the original instagram poster's username just to credit him for these pictures I'm using to ask my question) submitted by Never_Answers_Right to sewing [link] [comments] So, I'm currently altering a pullover shirt pattern (Laughing Moon 107 men's shirt) to make a sort-of recreation of the original "Miner's pullover" the Levi's 211 Closed front jumper. This one pictured is a recreation Levis did years ago. What I'm confused by is that the back panel is "flat"- there's not a yoke or any pleats to give the back dimension. Also, I notice that the front and back panels are using the selvedges of this fabric, meaning this has to be a fixed size, right? If you're using a fabric that's only 28" wide, I guess you can use the full width to your advantage. I'm probably doing too much work altering an existing pattern instead of drafting a pattern or finding a recreation of this online, but I think I can make a version of this With a yoke, but alter the back panel so I don't need to add pleats (my sewing machine will thank me for not needing to sew through 40 Oz of denim at once)- however? I'm wondering how this will change the range of movement. Maybe as long as the sleeves are generously cut, and long enough, and the body of the shirt is full enough, it doesn't matter? I need to make a mockup anyway, but I thought I would ask on here- how does a totally flat back panel "work" for workwear? |
2024.05.14 17:38 IzuTomo [FOR HIRE] Digital illustration Head portrait // Half-body // Full-body// illustration //Commissions open
submitted by IzuTomo to artstore [link] [comments] |