Latest news with #Block3
Yahoo
5 days ago
- Business
- Yahoo
SpaceX Starship Spins Out After Successful Launch, But It Didn't Explode This Time
SpaceX's latest launch of its Starship rockets was more successful than the past couple, but it still ended its launch out of control, eventually crashing down in the Indian Ocean. It did make it into orbit, though, and the claimed issues from previously explosive launches appear to have been fixed. This was also the first time Starship has used a refurbished first-stage booster. Starship is SpaceX's next-generation rocket and the largest one ever designed. If it ever reaches the same reliability for regular use as the long-running Falcon 9, it will have the ability to transport between 100 and 200 tonnes into low Earth orbit. Unfortunately, 2025 has seen Starship stumble, with two out of three launches ending in catastrophic explosions of the new Block 2 booster design, for various reasons. SpaceX will be largely happy with this latest launch, then, despite the problems it faced. The first stage booster completed its burn successfully and separated without issue. While the first-stage booster turned and began its burn back toward the launchpad for an intended splashdown landing, the Starship upper stage continued on, burning for a few more minutes to achieve "nominal orbital insertion." Unfortunately, that's when some issues cropped up. Initially, the cargo bay doors failed to open, so the dummy Starlink satellites couldn't be deployed. And then SpaceX lost control of the spacecraft. "Leaks caused loss of main tank pressure during the coast and reentry phase," SpaceX CEO Elon Musk explained on Twitter/X. This loss of tank pressure meant that the Starship team lost the ability to control the ship's attitude, which led to the upper stage entering an uncontrolled spin. This meant that the Starship wasn't going to be able to hold its orbit, and a decision was made to bring it down as carefully as possible. All remaining fuel was vented and at around 46 minutes into its flight, Starship went dark and broke up into pieces over the Indian Ocean, as per Ars Technica. This was at least in its intended flight path, however, so there should be no danger of damage to human life or property due to falling debris. That wasn't the end to the launch woes, though. The first-stage booster also suffered an unknown issue, exploding soon after igniting its engines again for re-entry. That brought an explosive end to the first re-used Starship booster. SpaceX has announced plans to continue with launches of one Starship every three to four weeks for the rest of the year, with plans to introduce a new Block 3 design before the end of 2025 with greater lift capacity, and a new Raptor engine with greater reliability.
Mercury
6 days ago
- Business
- Mercury
NIM hot on the heels of gallium host rock
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. NIM hits gallium host rock at Block 3 discovery in WA Gallium is a critical mineral that has surged since China imposed export restrictions The company has immediately moved to the third phase of drilling. Special Report: Nimy Resources has intersected gallium host rock during phase 2 drilling at its Block 3 project in WA. The project is in the Mons greenstone belt, northwest of the Forrestania nickel and lithium district, where recent exploration uncovered the gallium opportunity. This could lead to the junior becoming the first primary producer of the critical mineral in WA. Interest in the specialty metal – a key component in computer chips critical to electronics, AI and defence – has surged since market leader China initiated export controls in 2023. Production is almost entirely sourced as a by-product of alumina and zinc refining but Nimy Resources (ASX:NIM)is hoping to change that with its Block 3 project, where it has uncovered gallium grades far higher than those typically associated with bauxite deposits. Nine holes out of a total of 11 in the latest drilling program hit chlorite/mafic schist – which has been identified by CSIRO as the host rock for high-grade gallium mineralisation at the project. While assays are pending, the company is confident of the potential to expand the extent of the discovery, and identify additional chlorite schist material along trend. Unlocking full extent of gallium discovery Notably, this style of deposit is the same from which gallium has been extracted from a mine in China and CSIRO thinks it could run between 400-800ppm gallium. That could present an opportunity to significantly upgrade the economic prospects of a future resource through ore sorting. Due to the success of second phase drilling, the company has immediately moved to phase 3, looking for gallium mineralisation beyond the original exploration target as well as the recently discovered outcropping schist. In the background, Nimy is also conducting metallurgical testwork and progressing early-stage downstream discussions, an integrated approach that the company says reflects its commitment to unlocking the full potential of this emerging critical minerals opportunity. 'The consistent intersections of schistose material across completed drill holes at Block 3 is an exciting development that continues to reinforce the scale and potential of this high-grade gallium prospect,' managing director Luke Hampson said. 'Assays are pending and phase 3 drilling has commenced, we are well positioned to rapidly advance what is a significant critical minerals discovery in Western Australia.' This article was developed in collaboration with Nimy Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as Nimy Resources intersects gallium host rock at Block 3 discovery
The Australian
15-05-2025
- Business
- The Australian
Nimy seeks gallium bounty at Block 3
Nimy Resources has kickstarted a three-week drill drive as it looks to deliver a maiden resource for its Block 3 gallium project Potential to outline world class deposit of the semiconductor super metal Gallium supply is dominated by China, with Nimy already seeing external interest in future product Special Report: Hot on the heels of what could be a game-changing discovery of semi-conductor super metal gallium, resource drilling has begun at Nimy Resources' Mons project. The junior explorer's discovery of high-grade gallium in a virtually unexplored greenstone belt north of WA's Wheatbelt could lead to the extraction of a new and strategically valuable source of the critical mineral. An exploration target reported over the 3km by 1.5km Block 3 prospect by Nimy Resources (ASX:NIM) on January 28 clocked in at 9.6-14.3Mt at 39-78ppm gallium. The Phase 2 drill campaign is set to take three weeks, with assays due as soon as feasible. The aim of the program is to extend known high-grade mineralisation along strike and down dip, with the exploration target only encompassing the eastern segment of the Block 3 prospect. Nimy will drill test the new Block 3 Central target during the program, which will support the development of a maiden JORC resource. 'The commencement of this round of drilling at the Block 3 Gallium discovery is significant as we move forward in defining a world class JORC compliant high grade gallium deposit,' Nimy managing director Luke Hampson said. 'Concurrently, Curtin University are working on metallurgical testing following CSIRO identification of high grade 400-800 g/t gallium in chlorite. 'These exploration milestones move Nimy closer to meeting the need of gallium customers who have made initial enquiries as to our progress.' Drilling has begun at Nimy's Block 3 gallium prospect. Pic: Nimy Strategic gallium project Most gallium is produced by China as a byproduct of alumina and zinc refining, with as much as 98% of the supply chain controlled by the Middle Kingdom, a danger hammered home when it restricted direct exports to the US last year. Nimy's Block 3 has been shown by initial mineralogical assessments by the CSIRO to contain high grades of 400-800g/t in samples of gallium in chlorite. Met testwork with Curtin University and its WA School of Mines lab is another critical step, with Nimy already working with M2i Global, a US-based defence and tech solutions company to support a US Department of Defense procurement contract for its gallium. Gallium is used in semiconductors, EV and wind magnets, solar panels, LEDs, LCDs, blu-rays, with its rise in the world of computer chip wafers resulting from its status as a superior replacement for silicon. The metal is listed as a critical mineral across Australia, the EU, the UK, the US, India, Japan, and South Korea. A Phase 3 drill program is expected to follow the Phase 2 program based on the assay results. Drilling will encompass testing of the new Block 3 Central target. Pic: Nimy This article was developed in collaboration with Nimy Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Yahoo
21-04-2025
- Business
- Yahoo
Chevron and other oil firms exit Red Sea concessions, redirect efforts
Chevron, alongside other multinational oil and gas companies, has exited its Red Sea oil and gas concession blocks in Egypt after failing to make any discoveries. The Egyptian petroleum ministry confirmed that these companies are now redirecting their resources to other regions within the country, particularly the Mediterranean, reported Reuters. Egypt awarded its first oil and gas exploration concessions in the Red Sea to Chevron, Shell, and Mubadala Investment Company in 2019. Moataz Atef, spokesperson for the ministry said: "Companies have spent millions on their concessions within the agreed time frames.' He noted that one unnamed company invested $34m, exceeding its initial commitment of $10m, but did not achieve the desired results. Chevron has confirmed relinquishing its 45% stake in Red Sea Block 1 in the northern part of the Red Sea. The company operates the block with partners including Woodside Energy, while Shell operates Block 3 with Woodside Energy and QatarEnergy. Chevron spokesperson Sally Jones said: "Chevron remains committed to working with the government of Egypt and our partners to support the growth of Egypt's energy sector through our exploration programmes in the Mediterranean.' The ministry did not disclose the names of other companies that have exited the Red Sea blocks. Shell declined to comment, and Mubadala, Woodside Energy, and QatarEnergy were not immediately available for comment, the report said. Despite these exits, the ministry remains optimistic about the potential of the concession areas. Both Shell and Chevron have applied for new concessions in the Mediterranean Sea, reaffirming their commitment to Egypt's oil and gas sector. Chevron has expressed interest in three other exploration blocks in Egypt, including two as an operator in the Mediterranean. Egypt's gas production was 4.6 billion cubic metres (bcm) in January 2024 but declined to 3.6bcm by January 2025, according to data from the Joint Organisations Data Initiative. Atef assured that Egypt would meet rising electricity demand this summer, with plans for three to four floating storage and regasification units to stabilise natural gas supply. He added that LNG shipments were secured, and an emergency plan was developed to tackle unexpected demand increases. Last summer, Egypt faced power shortages due to high cooling demand, leading to load-shedding and imports costing around $1.18bn. The Egyptian Natural Gas Holding Company (EGAS) intends to execute seven gas development initiatives and introduce 24 new wells into the production landscape in the fiscal year 2025/26. "Chevron and other oil firms exit Red Sea concessions, redirect efforts" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
18-04-2025
- Business
- Zawya
Chevron and other companies exit Egypt's Red Sea concessions, redirect resources
A number of multinational oil and gas companies including Chevron have exited their Red Sea oil and gas concession blocks after making no finds and have channelled their resources elsewhere in the country, the Egyptian petroleum ministry said. As part of its efforts to become an energy hub, Egypt awarded oil and gas exploration concessions in the Red Sea for the first time to Chevron, Shell and Abu Dhabi sovereign wealth fund Mubadala Investment Company in an international tender in 2019. "Companies have spent millions on their concessions within the agreed time frames," ministry spokesperson Moataz Atef told reporters on Thursday. He said: "One company spent $34 million on a contract that initially stipulated it will invest $10 million on exploration, but found no results," without naming said company. Chevron confirmed it has relinquished its operated 45% stake in Red Sea Block 1, located in the northern Red Sea. 'Chevron remains committed to working together with the government of Egypt and our partners to support the growth of Egypt's energy sector through our exploration programs in the Mediterranean,' spokesperson Sally Jones said in a statement on Friday. Chevron operates the block along with other shareholders including Australia's Woodside Energy. Shell operates Block 3 with others including Woodside Energy and QatarEnergy. Atef did not name the other companies that he said had relinquished their Red Sea blocks. Shell declined to comment. Mubadala, Woodside Energy and QatarEnergy were not immediately available for comment. The petroleum ministry spokesperson stressed his ministry still believed the concession areas could be fruitful. He said both Shell and Chevron had applied for new concessions in the Mediterranean Sea, reaffirming their commitment to Egypt's oil and gas sector, without giving further details. Chevron spokesperson Jones said it had interest in three other exploration blocks in Egypt, including two as an operator in the Mediterranean. In January 2024, Egypt's gas production was 4.6 billion cubic meters of gas. Despite pushing for further increases, production remained on a downward trend, recording 3.6 billion cubic meters in January 2025, data from the Joint Organisations Data Initiative show. Regarding energy supply, Atef sought to give assurances that Egypt would be able to meet rising electricity demand this summer. "By the summer, we will have three to four floating storage and regasification units to help stabilize the supply of natural gas," he said, adding that LNG shipments have been secured, while an emergency plan is in place to address any unexpected demand spikes. Last summer, Egypt faced power shortages exacerbated by high cooling demand. The country resorted to load-shedding and imports costing around $1.18 billion. (Reporting by Mohamed Ezz and Jaidaa Taha; Editing by Alison Williams)
