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Vedanta Resources clears debt obligations for Q1
Thu, 01 Jun 2023 00:00:00 GMT
The companys statement comes days after it pledged a 4.4% stake in VDL to Glencore International AG for a $250 million loan. Glencore International is one of the worlds largest natural resource companies and can be considered arival of Vedanta Group. The London-based holding companys gross debt now stands at $6.4 billion compared with $9.7 billion at the end of March 2022, as per the company statement.

India may link local lithium price with London exchange
Wed, 31 May 2023 00:00:00 GMT
India is looking to fix the value of lithium and rare earth elements (REEs) found in the country; domestic lithium prices will be linked to weekly prices for lithium hydroxide monohydrate published by the London Metal Exchange. Currently, there is no uniform parameter to assess the value of these elements, so an amendment to the Minerals Concession Rules, 2016 is being drafted. The move to fix pricing comes after the Geological Survey of India conducted exploration and handed over geological ...

China: Domestic Iron Ore Prices Diverged Last Week, But Are Likely ...
Tue, 30 May 2023 00:00:00 GMT
Weekly iron ore price review: Hebei: down 10-15 yuan/mt in Tangshan, Qianxi, and Qianan; western Liaoning: down 10-15 yuan/mt in Chaoyang, Beipiao and Jianping; east China: up 20-30 yuan/mt. Tangshan: Sharp decline in imported iron ore prices enabled local major steel mills to lower bid prices. Yet, bid prices were cut only slightly due to tight supply. In view of bearish imported ore market, local iron ore prices may inch lower this week. Western Liaoning: Most mines and dressing plants

Mining News - Seabridge ramps up exploration at 3 Aces
Thu, 25 May 2023 14:18:00 GMT
Seabridge Gold Inc. May 25 announced that it is preparing for a 7,500-meter drill program at 3 Aces, a road-accessible project that covers 357 square kilometers (138 square miles) of high-grade gold discoveries in southeastern Yukon. 3 Aces, which hosts two of the highest-grade surface outcrops ever discovered in the Yukon, has 30 mineralized veins which have been discovered through sampling,...

Mining News - First 2023 Sitka Gold hole hits paydirt
Thu, 25 May 2023 14:18:00 GMT
Sitka Gold Corp. May 24 announced the preliminary assay results from its first hole drilled for the 2023 program at the Blackjack deposit on the RC Gold project in the Yukon. And after the initial excitement from the visible gold seen when the core first surfaced in April, it was well worth the wait. 'Step out drilling at our Blackjack gold deposit continues to impress with Hole 41 returning...

Ukraine: Volynugol illegally mining coal for 4 years
Tue, 23 May 2023 09:33:22 GMT
The State Investigation Bureau has notified of four ex-CEOs of the state enterprise Volynugol of suspicion of activities resulting in a damage of 1.17 billion UAH to the environment and subsoil. The CEO managed the enterprise from 2017 to 2022. In 2018, the enterprise's special allowances for coal extraction at two out of five

Ukraine: InGOK repairs drilling machine
Tue, 23 May 2023 09:25:47 GMT
A repaired VBSH-250 drilling machine has been commissioned at the quarry of the Ingulets Mining and Processing Works. The repair was carried out by the engineers of the drilling machines. The replacement of basic units of the machine has increased its productivity by 15%. In one shift the machine can drill 80 meters of

Kyrgyzstan: gold illegally mined in Chatkal district
Tue, 23 May 2023 00:00:00 GMT
A criminal case has been opened on the fact of illegal gold mining in Chatkal district of Kyrgyzstan, press service of the Prosecutor Generals Office reports. It was found out that in 2021 the officials of Chatkal forestry entered into an agreement with a LLC on the lease of a land plot at Karatyube-Buzuk deposit

Turkish Kocaer invests in geothermal power for green steel production
Wed, 17 May 2023 00:00:00 GMT
Turkish merchant bar and steel sections producer Kocaer Steel has invested in a geothermal power plant in Horsunlu, Aydin, in accordance with its sustainable growth strategy, the company said May 16. To strengthen our position as a leading green steel production company in our industry, we aim to diversify our clean energy production resources

Ukraine: PGOK supplies all concentrate to NZF
Mon, 08 May 2023 08:41:58 GMT
Pokrovsk Mining and Processing Works supplies its manganese ore concentrate to the Nikopol Ferroalloy Works (NZF) only, as the Zaporozhye Ferro Alloys Plant has almost suspended operation. According to the company chairman Sergey Shuvayev, NZF needs products of the second sort only, that is why mostly the Northern quarry of PGOK operates. PGOK suspended

Ukraine: DTEK to launch three new long-walls
Thu, 04 May 2023 09:11:46 GMT
In May, DTEK Energo intends to launch three new long-walls in addition to 8 already commissioned since the start of the year. One of the long-walls has the reserves of more than 1 million tons of coal, which will come in handy when preparing for winter. In 2022, the group commissioned 28 long-walls. (Ukrainia

Uzbekistan: huge gold mine discovered in Jizzakh
Wed, 03 May 2023 00:00:00 GMT
During exploration work, a new gold mine was discovered in the mountains of Marjanbulak in Jizzakh region. It is estimated that the gold reserve of the new mine is more than 175 tons. Forecasts indicate that the volume of reserves at the mine could increase by 60-70 tons. (Uzreport/Ukrainian metal)

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