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Theri forest

Weekly Mining News: 31-03-2024

  1. Govt cancels auction of 13 of 20 critical mineral blocks over poor response
  2. Tamil Nadu: TAMIN, IREL gear up to set up mineral separation plants in Theri forest
  3. India wants to dig deep into metal-rich Indian Ocean seabed. Indian delegates have been visiting the International Seabed Authority (ISA), Jamaica to strengthen efforts to explore two deep sea regions in the Indian Ocean for mining, according to reports this week.
  4. Five miners killed after roof collapses due to heavy rain in Balochistan
  5. India Joins Sri Lanka in Seabed Mining Race
  6. India to send teams to Chile seeking lithium and copper assets. India will send two delegations next month to Chile to scout for lithium and copper resources, a government source said, as rapid economic expansion and New Delhi’s efforts to speed up the energy transition stoke demand for critical minerals.
  7. China smelters plan output cuts, no Q2 copper guidance price. hina’s top copper smelters have proposed to cut production by 5% to 10% and decided not to issue guidance prices for copper treatment charges (TCs) for the second quarter, two sources with knowledge of the matter said on Thursday.
  8. Nigeria to grant mining licences only to companies that process locally. Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, under new guidelines being developed.
  9. Miners urge govt not to impose export duty on low grade iron ore.
  10. Minor mineral industries facing unprecedented crisis with heavy tax burden, stringent license norms
  11. Mining scam accused Janardhan Reddy unconditionally returns to BJP. He was accused of scams during the BJP’s 2008 regime in the state.

Ref: timeofindia, businessstandard, miningdotcom, Reuters, economic times, Thehindu, economictimes

Picture credit: https://roamingowls.com/2019/02/20/desert-of-tamilnadu-theri-kaadu/

Read the last week’s news- https://waartsy.com/weekly-mining-news-24-03-2024/

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pakistan's coal mine collapse

Weekly Mining News: 24-03-2024

  1. Mining to restart in Goa after six years. Vedanta set to resume mining in Goa, approved to extract 3 million tonnes/year of iron ore from Bicholim block
  2. Nine of top 10 donors of Odisha’s BJD are in mining, steel sectors, includes Rungta Sons (Rs 50 crore), S N Mohanty group (Rs 45 crore), Rashmi Cement (Rs 45 crore), Vedanta Ltd (Rs 40 crore), Penguin Trading and Agencies Ltd (Rs 30.5 crore).
  3. India’s deep-sea mining can power India’s green transition: India has joined the burgeoning race, aiming to mine the deep sea for its abundant resources which has potential of 8 to 16 trillion dollars, a group of earth scientists have recently published a report.
  4. Twelve workers killed in Pakistan coal mine explosion at a coalpit in Pakistan’s southwestern province of Balochistan. workers trapped about 240 metres (800 feet) underground and ultimately killed.
  5. India is looking at setting targets on offshore mineral mining: the auction of offshore mining will start this year, secretary at the Ministry of Mines said on Friday
  6. Global Mining Industry Faces ‘Trust Deficit’ Despite Being Asked To Produce More Metals For Energy Transition. Data says the public does not trust the mining industry even as it expects miners to produce more metals to decarbonize the global economy and raise standards of living around the world.
  7. Zinc rallies as Glencore temporarily halts mine after cyclone Investors emboldened by stronger risk appetite, weaker dollar
  8. Global miner Rio Tinto will invest $350 million at its Rincon lithium plant in Argentina as it works to begin production by the end of the year, the company said this week following chief executive Jakob Stausholm’s visit to the site.
  9. Tata Steel falls over 2% this week as board approves fundraising of Rs 2700 crore
  10. Coal India, Vedanta among 5 metal stocks that recorded highest profit in Q3

Ref: timeofindia, firstpost, Bloomberg, mining.com, etc.

Picture credit: https://www.aljazeera.com/

read the last weekly news: weekly mining news 17-03-24.

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weekly news

Weekly Mining News: 17-03-2024

  1. Mining Giant Vedanta Bought Electoral Bonds Worth Rs 400.65 Crore. Rungta and JSPL are also in the list with 100 crore and 123 Crore.

  2. PM Gati Shakti National Master Plan launched for coal sector which offers a database of existing, ongoing and future coal projects, to foster comprehensive planning and execution of projects in the sector.

  3. Govt puts another 7 critical and strategic mineral blocks up for bid again for the third time

  4. Himachal’s game-changing mineral policy: Dig deeper, earn more, don’t let minerals flow to Punjab: Govt has granted extraction of minor mineral in the river/ stream beds upto 3m against the current rule of 1m.

5. Seven killed in China Coal mine warehouse accident

6. Iron ore price falls as Chinese steel mills cut output  persistent property crisis

7. China is planning to break its dependency on Australia and Brazil for iron ore. Africa is the key

8. State govt set for policy tweak to allow auction of ore on pvt land

9. China will continue to do business in Canada’s domestic critical minerals sector despite Prime Minister Justin Trudeau’s “unfortunate” crackdown on foreign investment.

10. Govt suspends NALCO Director Radhashyam Mahapatro on disciplinary grounds:

In an exchange filing, National Aluminium Company Ltd said yesterday that it has been informed by the ministry that Mr Radheshyam has been placed under suspension with immediate effect dtd 14th March.

The ministry has assigned the additional charge of Director to another persons who is Mr. Jagdish Arora, Director,( currently he is the director of project and technical, with effect from 14th March, for the suspension period or until further notice, whichever is earlier.

Ref: weeklymining, BBC, deccanheral, timesofindia, economictimes

Weekly news: Read the previous weeks news- click here-weekly news_10th march

Every week our website waartsy.com publishes short articles on interesting news in the areas of mining and minerals.

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Mining Engineer

Weekly Mining News: 10-03-2024

  • Coal India Limited (CIL) has achieved a record production of 703.91 million tonnes of coal up to 7th March 2024, surpassing last year’s 703.20 MT by an impressive margin of 26 days
  • To boost private investment in mining sector, industry awaits shift to investor friendly mineral reporting code. Mines ministry asked to consider adoption of JORC model in place of UNFC
  • Indian companies eye critical minerals mining in Sri Lanka, Australia as Mines Ministry expands search beyond South America. Ola Electric, Hindalco, and GMDC discuss the prospects of graphite mining in Sri Lanka; Vedanta, SAIL, Tata Steel, Adani Group to explore Australia
  • Tata Steel, Coal India, SAIL, NMDC: JPMorgan revises target prices for metals & mining stocks; double downgrades NMDC
  • Mining companies oppose state tax on minerals in Supreme Court
  • The Supreme Court said on Wednesday the Constitution does not give Parliament the “entire universe” of mineral development and states also have powers to regulate and develop mines and minerals.
  • With men on the front, women descend Ukraine’s mines. Hundreds of Ukrainian women who have taken on new roles below the surface of the war-battered country as its men fight off Russian forces on the front.
  • Rajasthan and Karnataka have marked a significant milestone in India’s mineral exploration landscape by initiating auctions for exploration licences of critical and deep-seated minerals
  • China’s biggest copper smelters are set to meet in Beijing next week to discuss measures to counter a plunge in ore processing fees to the lowest level in years, including potential production cuts.
  1. New Brazil copper mine gearing up to start production. The $310-million new mine will is now gearing up for production to begin in the second half of this year.

Ref: economictimes, miningweekly, zeebiz, businessworld, timesofindia, Indianexpress.com etc

Read last week’s news: https://waartsy.com/weekly-mining-news-march-1st/

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Diamond: weekly news

Weekly Mining News: 03:03:2024

  1. Govt. of India funds 5 MSMEs for innovation in mining & minerals includes M/s Caliche, M/s Cellark Powertech, M/s. L N Indtech M/s Ashvini, M/s Saru Smelting. Pralhad Joshi Hands Over Letters Of Financial Grants
  2. With $2.5 trillion in mineral resources, Saudi Arabia set to become global mining hub by 2030: industry and mineral resources during Global Metals Conference in Miami.
  3. The centre will launch the second round of critical mineral mine auctions for another 18 blocks on Thursday.
  4. India cuts royalties for mining 12 critical minerals which are in the range of 2-4 % of ASP only
  5. Nickel faces existential moment with half of mines unprofitable due to sudden price drop and data says this will last for next 5 years
  6. World biggest diamond supplier Debswana Diamond Company’s sales of rough diamonds fell 25.1% in 2023 due to an economic slowdown hit demand for luxury items in the U.S. and China.
  7. Deadly mining protests in Liberia kill 1 and injure many. Violent protests in Liberia over the presence of armed guards in mining areas
  8. Vedanta, Coal India, Ola Electric, Jindal Power and Dalmia group bid for critical mineral blocks
  9. Can Royalty Collected On Mining Leases Be Considered As Tax? Supreme Court 9-Judge Bench Starts Hearing on the multifaceted taxation matter of mineral-bearing lands.
  10. Illegal extraction, transportation of minerals | 30 cases registered, 51 persons arrested in last 2 months in J&K region

Read the previous articles: https://waartsy.com/weekly-mining-news-3rd-week-feb/

Ref: indiatimes, the hindu, mining weekly, livelaw, livemint, statesman https://www.mining.com/ etc.

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