Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and have a picnic in the park.

Here are the highlights:

😶 Cameco Can’t Ramp Up

👏 Peru’s Artisinal Miners Get a Leg Up

🤐 Big Wigs Thwart Critical Minerals Advancement

😶 Cameco Can’t Ramp Up

Cameco (TSX: CCO; NYSE: CCJ), a leading global uranium fuel provider, updated its 2023 production forecast due to challenges at its Cigar Lake mine and Key Lake mill. The company now expects to produce up to 16.3 million pounds of uranium concentrate from Cigar Lake, a decrease from the earlier estimate of 18 million pounds.

Similarly, the McArthur River/Key Lake operations forecast has been revised to 14 million pounds, down from 15 million pounds. Challenges included equipment reliability issues at Cigar Lake and operational changes and supply chain disruptions at Key Lake.

The market very much took it as a bullish signal, with uranium stocks going up a gazillion percent in Australia.

The ramp up is non-existent.

👏 Peru’s Artisinal Miners Get a Leg Up

The Peruvian Ministry of Energy and Mines (Minem) is offering loans to artisanal and small-scale miners, aiming to encourage sustainable and environmentally friendly mining. This initiative, named planetGOLD, is a joint effort by Minem, the Ministry of Environment, and the United Nations Development Programme.

The primary objective is to help miners acquire mercury-free processing equipment and promote business development, especially among female gold sorters. This initiative also advances the mining formalization process in Peru. Currently, around 250,000 artisanal miners in Peru account for a quarter of the country's gold exports, and unfortunately, a significant amount of gold is extracted using mercury, releasing nearly 145 tonnes of the toxin annually.

PlanetGOLD seeks to eliminate this harmful practice, reinforce regulations, and provide necessary support to miners.

We’ll be watching

🤐 Big Wigs Thwart Critical Minerals Advancement

The Inflation Reduction Act (IRA) is influencing the demand for metals and minerals, causing a spike in critical minerals activity. However, S&P Global's analysis reveals that the US legal system's complex permitting challenges may hinder the IRA's effectiveness.

The report emphasizes the significant role of the US landscape in influencing project timelines and highlights the prolonged permitting processes and potential legal risks. The IRA, combined with the Bipartisan Infrastructure Law, contributes $502 billion to new climate and energy investment.

Despite this, experts believe that the IRA's $387 billion might inflate to $1.2 trillion due to the legal complexities obstructing mine development. The IRA also impacts the renewable energy and EV sectors, with tax incentives propelling the energy transition and increasing EV battery demand.

Yet, the intricate permitting system remains a considerable barrier to achieving the IRA's goals.

Who. Would. Have. Imagined?!?!?!?

🧐 Visual Of The Day

🤣 Meme Of The Day

Happy Speculating!

The Editor

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.