Weekly Mining News: 05-05-2024

  1. India’s mining sector grew by 7.5 percent in FY24, with production of iron ore and limestone recording high growth of 7.4% during the year. Note: India Is The Second Largest Aluminium Producer, Third Largest Lime Producer, And Fourth Largest Iron Ore Producer In The World.
  2. G7 countries have further demonstrated their commitment to a low-carbon future: Leaders make a historic decision to shut down all coal power plants by 2035.
  3. Cop crushed to death by mining mafia: An Assistant Sub-Inspector (ASI) has been crushed to death by a tractor-trolley used for transporting illegally mined sand in Madhya Pradesh’s Shahdol district
  4. Goa’s mining industry: Union Home Minister Amit Shah on Friday assured that the mining industry in Goa will start full-fledged in next two years.
  5. Chinese miners see opportunities as BHP’s mega bid unfolds: China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP Group’s blockbuster $39 billion approach for rival Anglo American Plc, potentially the largest mining deal in over a decade.
  6. India is unlikely to impose tariffs on exports of low-grade iron ore for now despite rising overseas sales to China. China typically accounts for more than 90% of overall shipments of iron ore from India which is the world’s fourth-largest producer of the steel-making ingredient.
  7. The mineral production Index data of India shows, Mineral Production in the Country Grows by 8 percent in February, Compared to Last Year.
  8. Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group’s $39 billion takeover bid.
  9. Swedish mining group Boliden will restart production at its Tara zinc mine in Ireland after it was paused in 2023.
  10. Even in an optimistic low emission scenario for 2050, more than half the world’s copper mines will be in areas exposed to drought risk that’s deemed significant, high or extreme, according to a PricewaterhouseCoopers LLP report released this week

Ref: business-standard.com; www.tribuneindia.com; pibdotgovdotin; miningweeklydotcom

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