Weekly Mining News: 18-02-2024

1.       Govt readying to auction 59 offshore mineral mines in next 2-3 months: Mines Secretary

2.       Skyrocketing Battery Mineral Demand Set to Outpace Supply By this year: The rising demand for key minerals, driven in part by the move to EVs, could result in a supply gap that provides a potential investment opportunity in mineral exploration and mining companies. 3.       India to leverage US-led Minerals Security Partnership to help PSUs secure critical mineral assets abroad: The Union Mines Ministry has proposed to circulate critical mineral block proposals received by partner countries in the US-led Minerals Security Partnership (MSP) with central public sector undertakings or PSUs to allow them to acquire critical mineral assets abroad.

4.       National Coal Index declines 4.75% in December due to shfifting towards green energy. 5.       Coal scam: CBI names Monnet Ispat and Energy, CMD Jajodia in charge sheet: FIR was registered after five years on July 18, 2017, against the company for alleged irregularities in allocation and running of Gare Palma and Rajgamar Dipside coal blocks in Chhattisgarh

6.       SSR Mining of Turkey halts gold production in Turkey after landslide, shares tank at least nine miners missing and sparked a more than 50% plunge in its Toronto-listed shares

7.       Extraction of raw materials could rise 60% by 2060 – and making mining ‘greener’ won’t stop the damage: The United Nations’ flagship Global Resources Outlook report

8.       Extracting critical minerals from produced water advancing in the oil industry: Kyle Murray, principal scientist with Murray GeoConsulting. He said it is a way to offset the cost of treatment and generate additional revenue

9.       Hindalco Industries Ltd. is bidding for critical minerals exploration sites being auctioned by India, as the metals producer owned by billionaire Kumar Mangalam Birla seeks to build its portfolio of materials required for the world’s green energy transition.

10.   NMDC, the country’s largest iron-ore miner to ramp up gold mining in Australia, and pre-feasibility studies soon for lithium reserves.

11.   Vedanta starts provision of funding to KCM in Zambia

Ref: miningweekly.com, oilprice.com, mining.com, thehindubusinessline.com

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