Weekly Mining News: 30-06-2024

• Adani and Hindalco Express Interest in Jharkhand Mines: Both companies are among seven bidders participating in a pre-bid conference to select a mine developer and operator (MDO) for Hindustan Copper’s mines in Jharkhand.
• Vedanta Resources to Regain Control of Konkola Mine: Vedanta Resources Ltd. is set to regain control of the Konkola copper mine in Zambia and plans to quickly ramp up production in anticipation of increased future demand.
• Iron Ore Prices Decline: In June, iron ore prices dropped by $7-10 per ton due to reduced steel demand and increased ore stocks at Chinese ports.
• India Enters Offshore Mining: To meet its ambitious clean energy targets and reduce reliance on mineral imports, India is exploring offshore mining for critical minerals.
• Increase in Gold Mining Tax Revenue: The Ministry of Finance reports a 39% increase in tax revenues from gold mining companies to the state budget for January-May 2024.
• Vale to Resume Operations at Brazilian Mines: Vale, the Brazilian mining giant, plans to restart operations at the Onca Puma and Sossego mines following the reinstatement of their licenses.
• Lundin Mining Considers Selling Zinc Mines: Lundin Mining is exploring the sale of its Zinkgruvan and Neves-Corvo zinc mines in Sweden and Portugal to raise funds for its copper projects in Argentina and Chile.
• Vale Tests New Electric Trucks: Vale is testing new energy-efficient, electric trucks from Caterpillar, which are noted for their impressive size and weight.
• Protests Against Lithium Mining in Serbia: Environmental activists and local citizens are intensifying protests against Rio Tinto’s lithium mining project near Loznica, Serbia.
• Uttar Pradesh to Implement M-Sand Policy: Chief Minister Yogi Adityanath has instructed the mining department to swiftly implement the M-sand policy to promote manufactured sand as a sustainable alternative to river sand and moram

References: https://balkangreenenergynews.com/, the cooldown, timesof india, themorningcontext, mining.com, business standard, gmk.centre etc.

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