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.