Weekly Mining News: 01-12-2024: Oil and Gold Discovery

1. Arittapatti tungsten mining: T.N. CM Stalin urges PM Modi to cancel mining rights awarded to private firm in Madurai district, considering the biodiversity heritage site in the proposed area. Tamil Nadu Chief Minister M.K. Stalin has urged Prime Minister Narendra Modi to revoke the tungsten mining rights granted to Hindustan Zinc Limited in Arittapatti, a biodiversity heritage site near Madurai. Stalin highlighted that the proposed mining could irreparably damage the area’s ecological and archaeological significance, which includes ancient cave temples, Jain symbols, and Tamil Brahmi inscriptions. The densely populated villages within the mining zone also face potential threats to their livelihoods. Despite the Tamil Nadu government raising concerns in 2023, the Union Ministry of Mines defended the auction, emphasizing national interests. Stalin called for State consent to be mandatory for such bids, emphasizing the anguish of local communities fearing permanent livelihood loss

2. World’s largest gold reserve worth $83 billion discovered in China. Geologists have identified 40 gold veins at depths of up to 2 kilometers, contains 300 tons in each veins.

Geologists in China have discovered a massive gold reserve in Pingjiang County, Hunan Province, estimated at 1,000 metric tons of high-quality ore worth $83 billion. This may surpass South Africa’s South Deep mine as the largest known gold reserve. The deposit includes 40 gold veins at depths of up to 2 kilometers, with high-grade ore yielding 138 grams of gold per ton. This discovery bolsters China’s position as a leading global gold producer, influencing gold prices and the global market.

3. ONGC awaits mining lease for new oil field discoveries in West Bengal. ONGC has made 4 more discoveries since it first made an oil field near Asokenagar in West Bengal 6 years back, but is still awaiting the state government’s nod for a petroleum mining lease

The Oil and Natural Gas Corporation (ONGC) has discovered four additional oil fields near Ashokenagar in West Bengal but awaits a Petroleum Mining Lease (PML) from the state government to commence production. The first discovery, made in 2018, revealed high-quality crude oil similar to Bombay High and Brent Crude. While ONGC has secured approval for a broader development plan covering 99.06 sq km, progress is stalled pending state approval, despite repeated central government recommendations. This delay affects the monetization and production of the oil reserves.

https://www.business-standard.com/companies/news/ongc-awaits-mining-lease-for-new-oil-field-discoveries-in-wb-s-ashokenagar-124112800739_1.html

4. Two Tata Steel women employees featured among WIM UK’s 2024 100 Global Inspirational Women in Mining. The employees are Anjna Tiwari and Bandi Gayatri

Two women employees of Tata Steel, Anjna Tiwari and Bandi Gayatri, have been recognized in the 2024 “100 Global Inspirational Women in Mining” list by Women in Mining UK (WIM UK). This global recognition celebrates women making exceptional contributions to the mining industry and inspiring others to pursue careers in this traditionally male-dominated field.

Anjna Tiwari, an Assistant Manager in Security at Tata Steel’s Raw Materials Division, has been commended for her leadership in fostering workplace safety and bridging gaps between security operations and community engagement. Her contributions have been pivotal in ensuring that operations remain secure and sustainable while addressing local stakeholders’ concerns.

Bandi Gayatri, the first woman underground mining engineer at Tata Steel’s Jharia Division, has played a crucial role in advancing technical excellence in coal mining. Her leadership extends beyond technical contributions, as she has actively worked to promote inclusivity within the workforce, championing opportunities for women in mining operations.

This acknowledgment underscores Tata Steel’s dedication to diversity and inclusion within the mining sector. The company has consistently pushed boundaries by enabling women to excel in challenging roles, thereby setting benchmarks for gender equality in the industry. More details are available here.

5. Income tax dept, searches over Rs100 crore scam at multiple locations across Odisha in Bhubaneswar, Cuttack, Rourkela, Joda and Koira. The companies are iron ore based company.

Read last weeks news: https://waartsy.com/weekly-mining-news-24-11-2024/