Weekly News - WAARTSY

Weekly Mining News: 21-04-2024

Weekly Mining News: 21-04-2024

The Biju Janata Dal (BJD) drops 5 MLAs in latest list, gives ticket mining transporter. BJD has given tickets to actor Varsha Priyadarshini and mining transporter-turned-politician Sanatan Mahakud in the party’s latest list of candidates for the Odisha assembly polls
Saudi Arabia is said to be close to reaching a deal to acquire a minority stake in Pakistan’s $7 billion Reko Diq copper and gold mine, controlled by Barrick Gold.
Railways succeeds in mining tunnel in sandy soil below NH-10, averting cave-in risk
Cummins Inc . has recently launched a diesel hybrid solution for mining trucks in a collaborative effort with North Hauler Joint Stock Co., Ltd. (NHL), a prominent Chinese manufacturer of rigid mining trucks. It’s significant step in the company’s efforts to provide decarbonization solutions for industrial clients.
US restricts drilling and mining in Alaska wilderness, angering state leaders. The Biden administration on Friday took steps to limit both oil and gas drilling and mining in Alaska.
UAE giant eyes majority stake in Vedanta’s Zambian mines in expansion drive. Vedanta wants to sell part of its 80% stake in KCM.
During the leasing out the granite-rich Idar village in North Gujarat’s Granite, Locals are fearful about Aravalli mountains’ Future and are striving.
Tech Mahindra recruits Celonis-certified graduates in India with real-world process mining experience
Swedish mining company Boliden (New Boliden) has appointed local industrial 5G network “challenger” Radtonics to deploy a private 5G network at its mine in Garpenberg, in Dalarna County in Sweden. The Garpenberg mine is “one of the world’s most modern”, mines.
Protest at Adani port disrupts coal supply to Rashtriya Ispat Nigam Limited -RINL’s Vizag plant.

Ref: economic times, thewiredotin, miningdotcom, the print etc

Picture credit: https://www.rcrwirelessdotcom/

Weekly Mining News: 14-04-2024

1. Is asteroid/space mining the future? Asteroid mining company AstroForge is putting big money behind space minerals, but being an early adopter can be challenging. Can asteroid mining be profitable? AstroForge is counting on it

2. Copper price rally continues with the surge to the highest in 22 months. Copper continued its upward charge, hitting the highest level since June 2022 as investors bet that curtailed ore supply will struggle to keep up with rising global demand.

3. Indian Govt sets coal production target of 170 MT for captive, commercial mines for FY’25

4. Sany launches India’s first locally-made electric mining truck, SKT105E, with an impressive payload capacity of 70 tonnes, it stands as a powerhouse asset for mining enterprises across the nation.

5. One good step by Greece. Minister announces steps to bolster mining industry. Deputy Environment and Energy Minister Alexandra Sdoukou revealed four actions that will support the development of the mining industry in Greece, speaking at the Delphi Economic Forum on Thursday.

6. 14 dead, 12 hurt after bus falls into mining pit in Chattisgarh.

7. Major Mining Technology Innovations in 2023 are automation in safety, autonomous vehicles, rise of drones and unmanned aerial vehicles, robotics in mining, the revolution of data analytics and AI.

8. Contract mining and mining services leader Thiess gets six-year contract extension at BHP’s Mount Arthur South Operations

9. G Mining’s Brazil gold mine construction is nearly complete, on track for production in H2

10. The Jordan govt launched a strategy to make Jordan ‘a mining country’ in 2033, by raising the mining sector’s contribution to the gross domestic product to JD2.1 billion, compared to JD0.7 billion currently.

Ref: mining.com, im-mining.com, ekathimerini.com, timesofindia etc.

Read the last week’s post- Weekly Mining News: 07-04-2024

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

Weekly Mining News: 07-04-2024

India’s mining output rises 8% year-on-year. India’s mining index rose to 139.6 in February 2024. Iron ore and limestone account for 80 per cent of the total production value.

Times of India releases the list of 8 most dangerous mines in the world. The list included Mponeng gold mine-SA; Coal mines at Dhanbad- India; Chuquicamata Copper mine- Chile; Grasberg mine-Indonesia; Siberian Coal mines- Russia; Mirny diamond mine-Russia; Talcher Coal mines-India; EI Teniente copper mines- Chile.
NGT’s new move to fight illegal miners. NGT has mandated that only GPS-equipped vehicles will be permitted to transport minerals to stone crushers and screening plants in Gurgaon, Faridabad and Nuh. From 15 April, any vehicle transporting minerals without GPS can be seized by police
Controversial deep-sea mining negotiations showed progress, but many disagreements among member states remain. More than 190 delegates and observers gathered in Jamaica from March 18-29, 2024, for the first part of the 29th session of the International Seabed Authority (ISA) Assembly and Council.
Supreme court Tells Tamil Nadu, ED can summon ‘any person’ for ‘any information’, regarding the illegal sand mining case.
Amaroq Minerals Ltd., an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, has announced that the successful first underground mining blast at Nalunaq was initiated on 30 March 2024 at the 720 m level.
Research shows boom in mining for renewable energy minerals threatens Africa’s great apes. Researchers applaud move away from fossil fuels but say more must be done to mitigate effects on endangered species.
Survey shows Gulf states are putting their money into mining. They are Hungry to diversify their economies beyond fossil fuels, Middle Eastern powers are investing in the resources needed to produce clean energy
Chinese iron ore price dips but rises on a weekly basis- in this week.
Vedanta Q4 output shows aluminium production up by 4% and iron-ore sees a double-digit jump.

Ref: timesofindia, mining.com, pgurus, thehindu, the print, ft.com, theguardian etc

Picture credit: downtoearth.org.in- https://www.downtoearth.org.in/news/mining/controversial-deep-sea-mining-negotiations-showed-progress-but-many-disagreements-among-member-states-remain-95338

See the last week’s news- https://waartsy.com/weekly-mining-news-last-week-march/

Weekly Mining News: 31-03-2024

Govt cancels auction of 13 of 20 critical mineral blocks over poor response
Tamil Nadu: TAMIN, IREL gear up to set up mineral separation plants in Theri forest
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.
Five miners killed after roof collapses due to heavy rain in Balochistan
India Joins Sri Lanka in Seabed Mining Race
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.
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.
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.
Miners urge govt not to impose export duty on low grade iron ore.
Minor mineral industries facing unprecedented crisis with heavy tax burden, stringent license norms
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/

Weekly Mining News: 24-03-2024

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
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).
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.
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.
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
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.
Zinc rallies as Glencore temporarily halts mine after cyclone Investors emboldened by stronger risk appetite, weaker dollar
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.
Tata Steel falls over 2% this week as board approves fundraising of Rs 2700 crore
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.

Weekly Mining News: 17-03-2024

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

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.

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/

Weekly Mining News: 03:03:2024

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
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.
The centre will launch the second round of critical mineral mine auctions for another 18 blocks on Thursday.
India cuts royalties for mining 12 critical minerals which are in the range of 2-4 % of ASP only
Nickel faces existential moment with half of mines unprofitable due to sudden price drop and data says this will last for next 5 years
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.
Deadly mining protests in Liberia kill 1 and injure many. Violent protests in Liberia over the presence of armed guards in mining areas
Vedanta, Coal India, Ola Electric, Jindal Power and Dalmia group bid for critical mineral blocks
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.
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.

Weekly Mining News: 25-02-2024

1. Again the news of Landslides in Philippines and Venezuela: At least 23 dead after open-pit gold mine collapses in Bolivar state of Venezuela on 21^st Feb and Kills nearly 100 in Philippines.

2. The Ministry of Coal has received an overwhelming response (40 bids) for the coal mines offered under the ninth tranche of commercial coal mine auctions.

3. Chinese mining Zijin Mining secures the green light for a massive expansion of Tibet copper mine

4. Australian mining giant BHP has announced a profit of $6.6bn (A$10.04bn) in the second half (H2) of 2023, the same as last year despite volatility in global commodity prices and demand in China.

5. Decks have been cleared for fresh extraction of iron ore in the state of Goa: EAC has recommended granting EC to Vedanta Ltd to extract 3 million tonnes per annum at the Bicholim block.

6. Centre tells – there is no need for a ceiling on mining iron ore in Odisha as more than 70% of its ore areas remain unexplored. This comes after concerns were raised about fast-depleting reserves in the eastern state just like Karnataka and Goa.

7. India’s mineral production rises 5.1 per cent in December. Key mineral productions included coal (929 lakh tonnes), lignite (40 lakh tonnes), iron ore (255 lakh tonnes), and limestone (372 lakh tonnes).

8. Centre notifies conversion factors and average sale price calculation for critical minerals. IBM will publish data based on publications by the United States Geological Survey (USGS).

9. Coal India aims to participate in the auctions for lithium and nickel mines, targeting 3 critical mineral blocks.

10. Lab-grown diamonds growth likely to be manifold in 2024 amidst the natural diamonds price drop: Analysis report of the hindubusinessline

Ref: miningtechnology; timesofindia, Hindustan times, Aljazeera, mining magazine, economic times, BBC etc.

Weekly Mining News: 18-02-2024

1. Govt readying to auction 59 offshore mineral mines in next 2-3 months: Mines Secretary

2. Skyrocketing Battery Mineral Demand Set to Outpace Supply By this year: The rising demand for key minerals, driven in part by the move to EVs, could result in a supply gap that provides a potential investment opportunity in mineral exploration and mining companies. 3. India to leverage US-led Minerals Security Partnership to help PSUs secure critical mineral assets abroad: The Union Mines Ministry has proposed to circulate critical mineral block proposals received by partner countries in the US-led Minerals Security Partnership (MSP) with central public sector undertakings or PSUs to allow them to acquire critical mineral assets abroad.

4. National Coal Index declines 4.75% in December due to shfifting towards green energy. 5. Coal scam: CBI names Monnet Ispat and Energy, CMD Jajodia in charge sheet: FIR was registered after five years on July 18, 2017, against the company for alleged irregularities in allocation and running of Gare Palma and Rajgamar Dipside coal blocks in Chhattisgarh

6. SSR Mining of Turkey halts gold production in Turkey after landslide, shares tank at least nine miners missing and sparked a more than 50% plunge in its Toronto-listed shares

7. Extraction of raw materials could rise 60% by 2060 – and making mining ‘greener’ won’t stop the damage: The United Nations’ flagship Global Resources Outlook report

8. Extracting critical minerals from produced water advancing in the oil industry: Kyle Murray, principal scientist with Murray GeoConsulting. He said it is a way to offset the cost of treatment and generate additional revenue

9. Hindalco Industries Ltd. is bidding for critical minerals exploration sites being auctioned by India, as the metals producer owned by billionaire Kumar Mangalam Birla seeks to build its portfolio of materials required for the world’s green energy transition.

10. NMDC, the country’s largest iron-ore miner to ramp up gold mining in Australia, and pre-feasibility studies soon for lithium reserves.

11. Vedanta starts provision of funding to KCM in Zambia

Ref: miningweekly.com, oilprice.com, mining.com, thehindubusinessline.com

Read previous week’s news- weekly mining news 11-02-2024 https://waartsy.com/weekly-mining-news-11feb24/