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1) According to a new study published in Nature, Europe will need to invest about 300 billion euros annually to build relevant infrastructure over the next 2 years if it wants to reach its ambitious goal to be climate neutral by 2050. The study states that major investments will need to be made in renewable energies, electricity grids and other infrastructure across the European Union along other countries, not to mention the amount of critical minerals needed for this undertaking. The authors reached this conclusion by looking at 56 relevant technology and investment studies that ranged from academia to the public sector. The war in Ukraine is also a challenge when it comes to reinforcing these trends: "To import as little gas as possible from Russia, Europe would have to invest around 10 billion euros more per year in solar enegy and wind power. In comparison, significantly less investment - around 1.5 billion euros per year - is needed in additional natural gas infrastructure such as LNG terminals," Bjarne Steffen, the co-author of the paper, said.
2) Hudbay Materials is continuing its work on property it owns in the Santa Rita Mountains, 28 miles southeast of Tucson, to develop the Copper World Complex, a copper mine with a life of 44 years. According to Hudbay, over its 44-year life, "...the company expects to contribute more than $3.3 billion in U.S. taxes, including about $660 million in taxes to the state of Arizona and $590 million in property taxes that directly benefit local communities." Hudbay also ..."expects the Copper World Complex to create more than 500 direct jobs and up to 3,000 indirect jobs in Arizona." In recent months, Save the Scenic Santa Ritas (SSSR), a non-profit founded in 1996, is stepping its public outreach as it celebrates legal victories that held off mining on the east side of the mountains. Hudbay is awaiting on a decision from the Arizona Department of Environemtal Quality on whether to issue a new air quality permit and amend Hudbay's Aquifer Protection Permit, which is expected sometime in mid-2023 with mining to begin sometime in 2024, barring any legal setbacks. Meanwhile, the SSSR is attempting to compel the Arizona State Mine Inspector's Office to initiate a public comment period on project and Hudbay's updated mining plan. It will be interesting to see how this ends, as yet another critical mine is opposed in the U.S. when the need for critical minerals for the green transition is necessary.