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/