News

Foresight News reports, according to Newsis, that Bycell Standard, the operator of the Korean token securities (STO) platform PIECE, has completed a 4 billion KRW (approximately 2.7 million USD) Series A financing round. Investors include Xperix Group, S&S, among others, with Xperix Group becoming its main strategic shareholder. The new funds will be used for acquiring underlying assets for new products, talent recruitment, and applying for investment intermediary licenses.Bycell Standard is one of seven multi-asset issuers in Korea approved for business restructuring by the Financial Services Commission’s Securities and Futures Commission, and is also a member of the KDX Alliance with preliminary licensing.

Golden Ten Data reported on March 11 that Hutchinson Gold Mining Company developed its first batch of copper mines in the first half of its fiscal year. Currently, the company is committed to expanding into the field of key metals in this energy transition. The gold miner, listed in Johannesburg, announced that its CSA mine in Australia produced a total of 3,913 tons of copper concentrate in the six months ending December. As South Africa's largest gold producer, Hutchinson is increasing its investment in copper through two projects in Australia to take advantage of the rising copper prices. In addition to acquiring the CSA mine in New South Wales, the company also launched the construction of the Eva copper mine in Queensland at the end of last year. In its semi-annual performance report released on Wednesday, the company stated that the transition to copper enables miners to benefit from the long-term demand for future-oriented metals. The output reached 724,000 ounces. This was mainly due to mechanical failures at the Hidden Valley mine in Papua New Guinea and challenges in obtaining cyanide in its South African operations.

Golden Ten Data reported on March 11 that the Group of Seven (G7) stated its support for the use of strategic reserves to address oil supply shortages and market volatility caused by the outbreak of the Iran war. On Tuesday, G7 energy ministers held a video conference with the International Energy Agency (IEA) to discuss in depth the impact of the Iran war on energy markets and supply systems. G7 energy ministers said that through close cooperation with the IEA, they are closely monitoring the trends in energy markets and are coordinating within the G7, as well as with international partners, IEA member countries, and other relevant parties. The G7 ministers added that, in principle, they support "implementing proactive measures to respond to the current situation, including the use of strategic reserves."