Page 2 - Mining

JSW Steel in talks with Australia's Whitehaven for coal mine stake

The miner acquired the Blackwater and Daunia mines from BHP Group in a $4.1 billion deal last October, and expects the acquisition to complete in early April

40 bids received via offline mode for coal mines auction, says govt

The coal ministry on Monday said it has received 40 bids through offline mode for the coal mines put for sale under the ninth round of commercial auction. The government had launched the ninth round of commercial mines auction in December last year. "The Ministry of Coal has received an overwhelming response for the coal mines offered under the ninth round of commercial coal mine auctions. A total of 40 bids have been received in offline form," an official statement said. The ninth tranche of auction was launched for 32 coal mines. The last date for submission of bids was February 19, 2024. The online bids received as part of the auction process along with the offline bids will be opened on Tuesday in presence of bidders. In 2020, Prime Minister Narendra Modi launched the auction process for 41 coal blocks for commercial mining, a move that opened India's coal sector for private players.

Vedanta weighs sale of minority stake holding in Zambian copper assets

Vedanta will remain the majority shareholder in the unit if a minority stake is sold, Griffith said in an interview on the sidelines of an African mining conference in Cape Town

Centre asks GSI, others to increase pace of mineral blocks exploration

The government on Monday asked the Geological Survey of India (GSI) and other agencies to speed up exploration of mineral blocks. Speaking at the 63rd Central Geological Programming Board (CGPB) meeting, Mines Secretary V L Kantha Rao urged state governments to be more aggressive in the implementation of exploration projects through the National Mineral Exploration Trust (NMET) funding. The GSI and other exploration agencies should increase the pace of exploration of critical minerals, Rao said. He further urged stakeholders to make use of geoscience data available in the National Geoscience Data Repository (NGDR) portal for a smooth exploration process, the mines ministry said in a statement. The GSI has formulated about 1,055 scientific programmes for 2024-25, including 392 mineral development projects that have the potential to generate auctionable mineral blocks, in the near future.

Govt to pump Rs 200 cr to explore, develop five lithium blocks in Argentia

India will pump in about Rs 200 crore to explore and develop five lithium mines in Argentia, the government said on Monday. Lithium is the single most important critical mineral for the energy transition; a fundamental component of lithium-ion batteries, which power electric vehicles and battery energy storage systems. An agreement was signed between Khanij Bidesh India Ltd (KABIL), state-owned joint venture formed to scout for minerals overseas, and Catamarca Minera Y Energtica Sociedad Del Estado (CAMYEN), a government-owned mining and energy corporation in the Catamarca province of Argentina to this effect. KABIL is also preparing to set up a branch office at Catamarca, Argentina. The project cost is about Rs 200 crore. "KABIL will start exploration and development of 5 lithium brine blocks viz 1. Cortadera-I, 2. Cortadera-VII, 3. Cortadera-VIII, 4. Cateo-2022- 01810132 and 5. Cortadera-VI covering an area of about 15,703 Hectare, located in the Catamarca province of Argentina,

Conduct 5-day operation to crackdown on mining mafia: Raj CM to officials

Rajasthan Chief Minister Bhajan Lal Sharma on Thursday directed officials to crackdown on the "mining mafia" in the state by conducting a five-day operation. Chairing a meeting of the mines and geology department here, he said preventing illegal mining, especially of gravel, is the priority of his government. Only strict and effective action will curb illegal mining in the state, Sharma stressed. He directed that a five-day joint campaign by police, district administrations, forest department, transport department and mines department be conducted to take strict action against the "mining mafia". Drones and other modern technology should be used to check illegal mining in the state, Sharma said. The chief minister also directed that a task force be formed under the chairmanship of the chief secretary to prevent illegal mining. Only when strict enforcement of the law is ensured, there will be fear among those involved illegal mining, Sharma said. He directed district superintendent

S&P downgrades Anil Agarwal's Vedanta Resources; warns of potential default

Anil Agarwal firm seeks bond holders consent to extend maturities

Landslide in Zambia kills 7 miners digging illegal tunnels, 20 missing

Seven miners were confirmed dead and more than 20 others were missing and presumed dead after heavy rains caused landslides that buried them inside tunnels they had been digging illegally at a copper mine in Zambia, police and local authorities said Saturday. No bodies had yet been retrieved after the landslides late on Thursday night, police said. Many of the victims were believed to have drowned. The miners were digging for copper ore at the Seseli open-pit mine in the copper-belt city of Chingola, around 400 km (250 miles) north of the capital, Lusaka, according to police. The landslides happened some time between 9 pm and 10 pm on Thursday, police said. Police gave names or partial names of seven confirmed victims and said all of the miners in the tunnels are suspected to have died. Neither police nor government officials could say exactly how many miners were trapped in the tunnels, but Chingola District Commissioner Raphael Chumupi told The Associated Press that there were at

Hindalco offers VR tour of sustainable mining initiatives at IITF

Aditya Birla Group firm Hindalco Industries is offering visitors a virtual reality tour of its sustainable mining initiatives at the mining pavilion of the India International Trade Fair (IITF) here. The virtual reality tour at IIFT captures Hindalco's sustainability initiatives, including sustainable land use, waste management, local economic development, biodiversity, water stewardship, health and safety and decarbonisation. Hindalco Industries Ltd is showcasing its array of sustainability initiatives through a special immersive virtual reality presentation at the Mining Pavilion of the India International Trade Fair 2023 being held at Pragati Maidan in the national capital from November 14-27. The Ministry of Mines has set up the mining pavilion for the first time. Seven-year-old Ganeev who was visiting the IITF with her family for the first time found the virtual reality tour quite interesting and informative. "I thoroughly enjoyed it and found it very knowledgeable," she told

Exxon Mobil drilling for lithium in Arkansas, to begin production by 2027

Exxon Mobil on Monday announced it's drilling for lithium in southern Arkansas, with the oil giant expected to begin production of the critical material for electric vehicles by 2027. Exxon in early 2023 acquired the rights to 120000 gross acres (48562 gross hectares) of the Smackover formation in southern Arkansas, considered one of the most prolific lithium resources of its type in North America. Exxon said that by 2030 it aims to produce enough lithium to supply the manufacturing needs more than 1 million electric vehicles. "Lithium is essential to the energy transition, and ExxonMobil has a leading role to play in paving the way for electrification," Dan Ammann, president of ExxonMobil Low Carbon Solutions, said in a news release. Exxon didn't disclose how much it's spending on the project, which is expected to be a boost for a part of Arkansas that has a history as an oil and gas producer. "I'm not being dramatic when I say this has the potential to transform our state," Arkan

India's industrial production growth decelerates to 5.8% in September

The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 3.3 per cent in September 2022

Malaysia gives nod to Lynas to process rare earths until March 2026

Malaysia's government said on Tuesday it will allow Lynas Rare Earth to continue to import and process rare earths until March 2026, after the Australian miner proposed a new technology to extract radioactive elements from the waste it produces. The Lynas refinery in Malaysia, its first outside China producing minerals that are crucial to high-tech manufacturing, has been operating in central Pahang state since 2012. But the company has been embroiled in a dispute over radiation from waste accumulating at the plant. The government had ordered Lynas to move its leaching and cracking processes which produce the radioactive waste from Australian ore out of the country by the year's end. It also was not allowed to import raw materials with radioactive elements into the country. Science Minister Chang Lih Kang said the two conditions for renewing Lynas' license had been met after the company proposed a way to extract thorium, the radioactive element, from the raw rare earths it imports

Mineral output index increases by 12.3% to 111.9 in August: Centre

India's mineral output increased by 12.3 per cent in the month of August as compared to the same month a year ago, the Centre on Monday said. The index of mineral production of the mining and quarrying sector for the month of August 2023 at 111.9, is 12.3 per cent higher as compared to the level in the month of August 2022, according to provisional data from the Indian Bureau of Mines (IBM). The cumulative growth for the April- August period over the corresponding period of the previous financial year is 8.3 per cent, the mines ministry said in a statement. In the month of August, the country's coal output was 684 lakh tonnes, lignite production was 28 lakh tonnes, bauxite was 14.28 lakh tonnes among others. Minerals like gold, phosphorite, manganese ore and iron ore showed positive growth. "Minerals showing negative growth include bauxite, zinc conc, lignite and lead.

Cabinet approves royalty rates for mining of Lithium, Niobium REE

To ensure consistency, the Ministry of Mines has devised a formula for calculating the ASP of these minerals, which will aid in setting bidding parameters

Vedanta incorporates wholly-owned subsidiary to implement demerger scheme

Mining major Vedanta on Wednesday said it has incorporated a wholly-owned subsidiary, Vedanta Base Metals Ltd, to implement the demerger of its five key businesses, including aluminium and oil and gas. "We wish to inform you that a wholly-owned subsidiary of the Company, in the name of 'Vedanta Base Metals Ltd' has been incorporated on October 09, 2023," the company said in a filing to BSE. The unit has been incorporated to implement the demerger scheme that was intimated to the bourses late last month. Mining conglomerate Vedanta Ltd had announced plans to demerge five of its key businesses, including aluminium, oil and gas, and steel, into separate listed entities with a view to creating shareholder value. According to the filing, 100 per cent shareholding of this unit is currently held by Vedanta Ltd. Vedanta Base Metals Limited is a public company incorporated on October 9 and its main object is to carry out the Metal business.

Metal stocks rally defies global peers, not backed by fundamentals

Metal stocks continued to rally last week, despite weakness in the overall market

Taliban say they have signed mining contracts worth $6.5 bn in Afghanistan

Afghanistan's ruling Taliban government said it signed seven mining contracts Thursday amounting to USD 6.5 billion in investment, in the biggest such round of deals since seizing power two years ago. The seven contracts are with locally based companies, many of whom have foreign partners in countries including China, Iran, and Turkiye. They include the extraction and processing of iron ore, lead, zinc and gold in four provinces: Herat, Ghor, Logar and Takhar. A statement on the contracts from Deputy Prime Minister for Economic Affairs Abdul Ghani Baradar Akhund gave few details, but said they would create thousands of jobs and significantly improve the economic situation of the country. Any figures given for the deals could be misleading unless they lead to fully realized mining operations on the ground, which could take years, said Javed Noorani, an expert in Afghanistan's mining sector. The Taliban know Afghanistan has minerals and this is cash, but it's not easy cash, Noorani t

Bill to allow private sector to mine lithium, other atomic minerals passed

A bill that seeks to allow the private sector to mine six out of 12 atomic minerals, including lithium, and deep-seated minerals such as gold and silver was passed by Parliament on Wednesday, amid a walkout by opposition members demanding a discussion over the Manipur violence issue. Union Minister for Coal and Mines Pralhad Joshi moved the The Mines and Minerals (Development and Regulation) Amendment Bill, 2023, when Rajya Sabha reassembled in for the post-lunch period. The bill was passed by the Upper House of Parliament by voice vote. It was approved by Lok Sabha last month.

FIR registered against BJP MLA Munirathna for using explosives for mining

Former Karnataka Minister and BJP MLA Munirathna has been booked under the Explosives Act and Karnataka Land Revenue Act along with three others for carrying out blasts to mine stones in a quarry at Hunasamaranahalli. Based on a complaint by the Yelahanka Tehsildar Anil Arolikar, the Chikkajala police registered a case against Munirathna, Anandan, Ganesh V and RAdhamma. The FIR said the Jai Bhim Sene had requested the Tehsildar to stop the 'illegal' mining activities. The villagers too had staged a demonstration against the usage of explosives for quarrying. Following the complaint, a field survey was carried out, where it was found that explosives were used for quarrying. These activities were damaging earth in that region, according to the FIR. The sale of stones was also resulting in loss to the state government. The investigation also revealed that those mining the quarry did not have any permission from the competent authority, the FIR said.

Chinese mining company opens $300 mn lithium processing plant in Zimbabwe

A Chinese mining company formally opened a USD 300 million lithium processing plant Wednesday in Zimbabwe, which has one of the world's largest reserves of the metal as demand surges globally because of its use in electric car batteries. Zimbabwe has the largest lithium reserves in Africa and has in recent years drawn investors in battery minerals from Canada, the United Kingdom and Australia, although China is the dominant player. The plant opened by Prospect Lithium Zimbabwe, an arm of Chinese company Zhejiang Huayou Cobalt, has a capacity to process 4.5 million metric tons of hard rock lithium into concentrate for export per year, Zimbabwe President Emmerson Mnangagwa said. Mnangagwa was present for the official opening of the sprawling plant in Goromonzi, about 80 kilometres (50 miles) southeast of Zimbabwe's capital, Harare. Lithium is the mineral of the present and the future ... and value addition will position our country as an emerging and competitive player in the global