The briefing on mining
The latest news, trends and data from the mining industry
NEWS IN NUMBERS
$3.4bn
A new report from Frost & Sullivan estimates that the global mining industry personal protective equipment is set fpor revenues of $3.4bn by 2023.
2.5%
India's Federation of Indian Mineral Industries is calling for the scrapping of a 2.5% import duty on copper concentrates.
$529m
China contributed $529m to the personal protective equipment market in 2018, making it the largest global contributor according to research from Frost & Sullivan.
$569.31
Amid rising geopolitical tensions between the US and Iran, gold prices have risen in India past approximately $569.31 per 10 grams.
The latest from Twitter
Further reading: Will coal get a chance to breathe in climate-aware future?
With the continuing challenges of the climate crisis pushing many miners to adapt their operations and even leave coal, it has not gone unnoticed in the Australian coal sector that tensions need to be appeased if the coal business is to continue.
Source: Australian Mining
PROJECT NEWS
India clears ten coal projects and introduces new coal mining law
The Environment Ministry of India gave its clearance to ten coal mining projects with an annual capacity of 160Mtpa. Four washeries, which can handle 31Mtpa, also received clearance.
The government’s nod is provided for the projects of Coal India for seven mines (141Mtpa) and two washeries (15Mtpa). Over all, the ministry cleared 14 of the total 23 projects it considered, reported The Economic Times.
Chile’s Codelco raises $2bn for debt refinancing and mine expansions
Chile’s copper producer Codelco has raised $2bn bonds to secure financing for its multibillion-dollar upgrade projects, as well as to refinance debt and maintain a significant cash position. The state-owned company has sold $1bn in ten-year bonds and obtained a further $1bn in 30-year bonds issued in September 2019, yielding 3.175% and 3,958% respectively.
Bezant extends initial expenditure phase of Zambia’s Buffalo project
UK-based copper-gold exploration and development company Bezant Resources has secured an extension to the initial expenditure phase for its conditional option to buy a 50% stake in a copper mining licence area, which contains the Buffalo exploration project in Zambia.
RCT completes automation project at open-cut diamond mine
Autonomous solutions provider RCT has completed an automation project for a mining company’s open-cut diamond operation in South Africa. RCT stated that it had installed and commissioned its ControlMaster line-of-sight solution on a Cat 994 wheel loader at the diamond mine last year.
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