Page 11 - Mining Industry

Govt awards 18 of 28 coal mines to leading private mining companies

The government on Tuesday said of the 28 coal mining projects identified to be operated through mining operators-cum-developers, 18 mines have been awarded to leading private firms. The engagement of these mining developers-cum-operators (MDOs) promises to make substantial contributions to coal production, ensuring both enhanced output and operational excellence. "Initially, CIL (Coal India) identified 15 coal mine projects with a combined capacity of 168 MT (million tonnes) for MDO implementation. This number has now expanded to 28 projects (18 opencast and 10 underground mines) with a total capacity of 257 MT. As of today, 18 mines have been awarded to leading private parties, marking a significant milestone in this ambitious endeavour," the coal ministry said in a statement. The primary goal of engaging MDOs is to significantly increase coal production by streamlining operations, enhancing productivity, and reducing mining costs. These operators, selected through open global ..

Residents of Serbia's lithium-rich region pledge to block EU-backed mining

Zlatko Kokanovic does not want a lithium mine in his backyard and he will do anything he can to stop it from opening. All of us here, we are ready to lose our lives," the 48-year farmer told The Associated Press. "They can shoot. That is the only way they can open the mine. At stake is a lush farming valley in western Serbia that holds one of Europe's richest deposits of lithium, a precious metal that is used to make batteries for electric cars and is crucial for the global transition to green energy. Whether there should be a mine in the valley or not has become one of the most contentious issues in the Balkan nation, triggering protests by thousands of people in a challenge to the populist President Aleksandar Vucic. While the government insists the mine is an opportunity for economic development, critics say it would inflict irreparable pollution on the Jadar valley, along with underground water reserves, farm land and two small rivers that run through the valley. Thousands are

385 mines auctioned since 2015, only 50 operational; challenges persist

The government said the amendments made in the MMDR Act have led to speedy auction and production from mines

'DGMS focuses on safety amid increase in commercial coal mine auctions'

With more commercial mines being auctioned, the DGMS has started discussions with captive and commercial coal block operators on mine safety, an official said on Sunday. The Directorate General of Mines Safety (DGMS) emphasises ensuring adherence to safety norms among new players. "We see more captive and commercial mines coming into production every year. So, we are actively engaging in consultation with the mine operators so that they understand the rules and regulations that have to be followed for mine safety," DGMS Director General Prabhat Kumar said at the Mines Safety Award 2024 event. In the last nine rounds, the Ministry of Coal has auctioned 107 blocks with a peak-rated capacity of 256 MT. So far, 11 commercial coal blocks have been operationalised. Meanwhile, Coal India, which is diversifying into the non-coal sector, will actively participate in more auctions of critical mineral blocks, including lithium, to capitalise on the battery value chain. "We have taken one min

International Seabed Authority to conduct polls amid deep-sea mining debate

A UN body that regulates deep international waters is preparing to elect its next leader, a crucial position as it faces pressure to either ban, approve or place a moratorium on seabed mining. The upcoming election comes as the Jamaica-based International Seabed Authority ended a two-week session on Friday without reaching a consensus on a regulatory framework for deep-sea mining. The drawn-out debate raises concerns that the authority could receive an application later this year seeking the first deep sea mining exploitation license without having rules or regulations in place. The Metals Company, a Canadian-based mining company, is largely expected to be the first to apply for such a license. Mining exploration has been ongoing in the Clarion-Clipperton Fracture Zone, which covers 1.7 million square miles (4.5 million square kilometers) between Hawaii and Mexico. It is occurring at depths ranging from 13,000 to 19,000 feet (4,000 to 6,000 meters). However, no exploitation licens

Vedanta Resources seeks partners to develop Zambia mines it's regaining

The company seeks partners to carry out exploration, development and production as part of a $1 billion investment plan at the Konkola Copper Mines assets, it said

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far

Union Budget 2024: Finance Minister Nirmala Sitharaman announced the government will soon conduct the first round of offshore mineral auction round under the Critical Mineral Mission

Coal India forays into critical mineral mining in Madhya Pradesh

CIL won the bid by quoting a mining premium of 150.05 per cent of the value of the mineral despatch, which it will pay to the State of Madhya Pradesh

Vedanta's QIP receives bids for Rs 23,000 cr against offer of Rs 8,000 cr

Mining conglomerate Vedanta Ltd's (Vedanta) qualified institutions placement (QIP) of Rs 8,000 crore got around three times subscription around Rs 23,000 crore, institutional brokers said. The QIP witnessed significant interest from Foreign Institutional Investors (FIIs), mutual funds, insurance companies and other investors. Prominent mutual funds like Nippon, ICICI Prudential, SBI, Mirae, and White Oak have put in bids in the offer, an institutional broker said. Apart from MFs, other investors include foreign portfolio investors and UHNIs from India. The QIP, which is likely to close on Friday, will enable the company to deleverage its balance sheet and fund growth projects. Vedanta's Committee of Directors authorised the opening date of QIP on July 15 with a floor price of Rs 461.26 per share for this issue. The company had in its May 15 stock exchange disclosure said the proceeds may be used for prepayment of the borrowings as well as funding growth opportunities. The mining

Centre expands area limits by over 4x to boost critical minerals mining

The move comes after the Centre faced a setback in its initial auction of critical mineral blocks earlier this year

Centre plans to expand area limits to boost critical minerals mining

Shift aims to address challenges associated with mining critical minerals

Rajasthan expedites marking, e-auctioning of mines to curb illegal mining

Illegal mining can be curbed only by promoting legal mining

Centre releases draft guidelines for 'responsible and sustainable' mining

Dated July 2, these rules provide a framework for preparation and approval of exploration and production plans

Canada's policies to protect mining sector to shield takeover targets

The move appears to insulate domestic companies from takeovers when the world's biggest mining firms are hunting for metals that underpin the global transition away from fossil fuels

Over 100 industry reps attend meet before 10th round of coal mine auction

More than 100 representatives from the industry participated in a pre-bid meeting for the tenth round of commercial coal mine auctions, the government said on Friday. The government has put on sale 67 coal blocks in the 10th round of auction that was launched last month. "Ministry of Coal conducted the pre-bid meeting for 10th round of commercial coal mine auctions under chairmanship of Additional Secretary & Nominated Authority M Nagaraju, which was launched on June 21, 2024 offering 67 coal mines," an official statement said. A detailed presentation on the auction process was made by the transaction advisor, SBI Capital Markets Ltd, while another was given by the technical advisor, CMPDIL, about the mines being offered under this tranche on a revenue-sharing basis. The bid due date of this tranche of auction is August 27. Commercial coal block auction was launched by Prime Minister Narendra Modi in June 2020. Since then, in the last nine rounds, the Ministry of Coal has ...

Have arranged $250 million to settle Zambian copper mine debts: Vedanta

The miner owned by Indian billionaire Anil Agarwal will about the $250 million it needs to pay small creditors in Zambia on or around July 8, it said in a statement.

India, Australia aim to boost cooperation in critical minerals, processing

India and Australia are looking at ways to increase cooperation in critical minerals and their processing besides battery production, Commerce Secretary Sunil Barthwal said on Monday. Both countries have signed an interim free trade agreement and are in negotiations to expand that into a comprehensive pact, he said. "We are looking at how we can integrate our (India and Australia) economies in terms of battery production, in terms of mineral production, in terms of mineral processing, in terms of vehicle production," the secretary said here at a conference on the roadmap for vehicle electrification. He also said that the government has taken a series of steps to promote domestic manufacturing of electric vehicles (EVs) and strengthened the ecosystem around that like boosting charging infrastructure. Speaking at the event, Australian High Commissioner to India Philip Green OAM said they have huge mineral and energy resources that can support 'make in India'. Australia has strong ..

Mining majors give a miss to country's maiden critical minerals auction

This is not the first time the Centre has cancelled an auction due to limited interest from bidders; in the first tranche, the ministry had to cancel 14 of the 20 blocks put up for auctioning

Govt to auction 21 critical mineral blocks across more than six states

India has been auctioning critical mineral blocks since November as part of efforts towards a clean energy transition

Govt cancels 14 critical mineral block auctions launched in second tranche

India, in February, had launched the second part of its critical minerals auction worth an estimated $362 billion, listing 18 critical mineral blocks across eight states