Weekly Wrap 27/10/2023

Coking Coal Crisis Sparks Price Hikes in India

India has become a significant destination for coking coal exports due to a surge in steel demand.

While China's expected economic resurgence has not materialized, leading to a decrease in steel consumption. 

The rising price of coking coal is causing concern for steel manufacturers in India, many of which still rely on coal-eating blast furnaces. 

Asteroid Mining Startup AstroForge Gears Up for 2024 Launch

AstroForge, a U.S.-based startup, is finalizing details for its spacecraft, Brokkr-2, to launch in early 2024.

Marking it as the first private company to visit an M-type asteroid and operate in deep space. 

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Engineering Professor Transforms Coal into Graphene

A mechanical engineering professor at Virginia Tech, Roop Mahajan, has developed a groundbreaking method to create graphene from coal, significantly reducing the environmental impact and cost of production.

Mahajan's team produces graphene that's 10 to 15 times less expensive than previous methods.

Artists Fight Back Against Generative AI with Data Poisoning

Artists are using a new tool called Nightshade to add invisible changes to their art before uploading it online.

This "data poisoning" causes AI models that scrape the art for training data to produce incorrect results, such as turning images of dogs into cats.

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Australia's Mining Cleanup: A Massive Task with Big Rewards

Australia faces the challenge of cleaning up over 80,000 abandoned mines, a situation exacerbated by the recent closures of Glencore’s copper and zinc mines in Mt Isa.

While the inactive mines pose significant environmental, health, and safety risks... there is some opportunity as well.

The restoration of these lands can provide substantial environmental, social, and economic benefits, such as carbon farming, renewable energy production, water security, disaster prevention, and biodiversity restoration.

OceanaGold Reports Third Quarter 2023 Results

OceanaGold Corporation announced its operational and financial results for Q3 2023, highlighting a consolidated production of 99,028 ounces of gold and 3,413 tonnes of copper, with a revenue of $214 million.

This brings the YTD revenue of $759 million, EBITDA of $312 million and NPAT of $102 million.

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Olive Downs: Autonomous Update

Thiess simultaneously deployed Cat MineStar Command for Hauling and Drilling solutions at Olive Downs.

Currently, they have connected 21 haul trucks and three drills under the umbrella of an LTE network.

The entire project was completed in under 18 months, which, speaking from experience, is a pretty good result.

Airbnb's AI Cracks Down on Party Rentals

Airbnb's AI system identifies potential party rentals using red flags such as user's age, birthday, length of stay, and location proximity. 

If flagged the person is unable to book and referred to a partner hotel rather than a Airbnb property.

Measures like a 24/7 safety hotline and partnerships with rival companies have been implemented to address hosts' concerns. 

The new update also focuses on preventing fraudulent listings and ensuring listing accuracy.

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That's the week, enjoy and let's do it all again next week!

Harry Finn