Weekly Mining News: 13-10-2024

1. Armed attackers storm coal mines in Pakistan, killing at least 21: Militants attacked a coal mines using heavy weapons in Balochistan, Pakistan, killing 21 miners.
2. At least seven dead in a coal mine blast in West Bengal: A blast in a Raniganj coal mine leaves seven workers dead, prompting an investigation.
3. Landslide hits Fushun West Open-Pit Mine 1 in China: A big size slope failure observed through google earth, causes damage at the Chinese mining site, raising safety concerns.
4. Urgent approval for mining projects in Gadchiroli threatens 1.23 lakh trees: Fast-tracked projects in Maharashtra’s Gadchiroli could lead to large-scale deforestation.
5. Mining stocks rise despite market downturn: Mining sector stocks perform well, defying the overall negative market trend.
6. Steel stock jumps 3% after NTPC iron ore deal: a newly listed steel company, Vraj Iron and Steel Limited‘s  shares stock jumps 3% after signing agreement with NTPC for procurement of iron ore lump
7. Rakesh Jhunjhunwala reduces stake in small-cap mining stock: The investor group trims its holdings in a small-cap mining company amid market shifts.
8. Congo aims to reduce China’s influence in mining: The country seeks new partnerships to decrease China’s dominance over its mineral sector.
9. $2.1 trillion needed for net-zero mining by 2050: BloombergNEF estimates major investments required to meet demand for clean energy minerals.
10. Punjab intensifies crackdown on illegal mining with raids: The Punjab government conducts raids to curb unauthorized mineral extraction activities.
11. India’s mining equipment industry to grow 70-80% in 5 years: ICRA projects significant growth in the sector, driven by infrastructure investments.
12. Companies set sights on asteroid mining for trillion-dollar industry: Firms explore mining asteroids for precious metals, aiming to revolutionize resource extraction.

http://eos.orgRef: businesstoday, economictimes, eos.org, telegraph, thehindu, yespunjub, theprint, carboncredit, equitymaster, theguardian etc.

Pic credit: the guardian

See last week’s news: https://waartsy.com/weekly-mining-news-06-10-2024/