All Chinese Coal Mines Suspended after fatal blast- Thursday, February, 16, 2017 - Chinese Mining News.
It was rather reported by Authorities on Thursday, February, 16, 2017, that all small scale coal mines became suspended in China's Hunan Province. This suspension came following a fatal blast in which had killed nine workers at around 1:30am. It was rather stated that starting Wednesday, coal mines with an annual capacity of less than 300,00 tonnes will be suspended for two weeks in order to complete safety inspections. The blast which had fatally killed nine miners had occurred on Tuesday, February, 14, 2017, at the Zubao Coal Mine in Lianyuan City, Xinhu, China. At the time there was a total of 29 people who were working underground, in which 16 of them had manage to escape from the shaft, and 4 other became rescued, with three of them injured.
CobalTeck Acquires 9 past Producing Mines In The Prolific Cobalt Camp of Ontario, Canada- Thursday, February, 16, 2017 - Canadian Mining News.
CobalTech was more than please to announces that it had fully acquired additional strategically located properties that are situated around it's Duncan Kerr Project. Much of the whole entire new property purchase is known to also increase by 8 fold the total area of prospective ground that's under CobalTechs control, in which now totals 264 Hectares, including 9 historical past producing mines.
These newly acquired properties are all located in the historical Cobalt Camp, in which is also adjacent to the company's Duncan Kerr Property. These new acquisitions are known to host the past producing Drummond, Consil, Hargraves, Belmont, Silver Cross, Campbell-Crowford, Juno, Airiod, and Silver Bird Mines. All these mines together were reported to have estimated an out put of 4.55 million ounces of silver, and 253,000 pounds of Cobalt. All production depths of these mines were rather reported to have not exceeded more than 186m from surface. One of the last mines which was reported to have been nearing production in Cobalt was the Consil, before the silver markets had collapse in the 1980's In addition to this, the Consil Mine was also previously owned by Agnico Eagle, and its 1994 closure plan had mentioned a cobalt mineralization of 78,966 tonnes @ 0.17% Co for a total of 270,462 pounds of cobalt.
India is now offering the non-coal mining auction process, in which had all started in the beginning of 2016. At this time the Union Mines Ministry has rather gotten a rapid response from the industry in which it has auctioned 21 mines successfully. At least ten rich mineral states have presented their own plan to the Union Mines Ministry In the auctioning of 71 non coal mines in 2016-17. In addition to this, Balvinder Kumar had stated on Wednesday, February, 15, 2017, that a total of 280 mines will be auctioned in the up coming financial year.
It was in June, 2015, when several rich mineral states had presented a non coal mineral action plan to the Central Government, in which they had stated that 100 mines will be auctioned by December, 2015. Much of the 280 mines are planned to be auction in the next fiscal year. Mr. Kumar believes that the 83 mines that are under litigation will also be auctioned depending on the outcomes. As for this plan, the Union Mines Ministry had also stated that 22 iron ore mines, and 21 limestone mines would be apart of this auction agreement to these rich mineral states. Many other mines which did not get any bids would also be re-tendered for auction in the next financial year. This also includes 71 mines, 16 mines, and three mines which would be tendered for the second, and third time. These new auctioning laws came in effect as a regulation under the Mines, and Mineral Development, and Regulation Amendment Act of 2015. Much of the old act gave the states the powers in granting the mining lease to any company as per their decision. The 2015 Mining Law states that if any company had already received a mining license of non-coal block for captive purposes, it can still continue to mine it till the lease period ends. After it ends, the such company will also have the first rights of refusal.
Mining Industry outraged over the cancellation of 75 mining deals - Thursday, February, 16, 2017 - Philippine News.
On Wednesday, February, 15, 2017, many mining companies became outraged over Environment secretary Gina Lopez's decision in cancelling 75 mining contracts. This was days after when Lopez had order the suspension of 23 mines, and the closure of 5 others. At the time her decision on closing these operations was appealed by the company's to president Rodrigo Duterte, who force a closure of 23 mines, including cancelling 75 mining contracts. It was rather decided to close these operations due to a month long audit on the Nickel market in Philippines. Other Statements from Gina Lopez had stated that these projects were in proximity of active watersheds, and planned watersheds. Her decision on closing these operation was due to the environmental impacts these mines may cause, and them being in an earth quake zone.
At this point in time the Chambers of Mines of the Philippines is planning on fighting Lopez's decision, in which her decision has affected $22 billion in project investment. These cancelled contracts are within the pipeline but are not operating at this time period Ronaldo Recidoro who is the VP of the chambers has stated that her decision is killing off the industry, and he does not see a future for the Philippines under her direction. He also had stated that Lopez's decision is risking the government in paying several billions in money towards reimbursement to those companies effected. Not only is this a heavy cost but it will also be taken out from tax payers money if the companies do decided to take their actions in suing for the full reimbursement of their investment into the Philippines. This major event will rather make congress in enforcing a new law in order to pay for the damages, or to even reimburse the mining companies that are effected in this closure.
On Saturday, February, 11, 2017, it was reported that 300 hooded vandals had vandalized property at the worlds biggest copper mine. The company at the time had also force its contract workers to stop working prior to a strike action on several Chile Copper Mines. In addition to this the incident that happened late Saturday night had forced the company to evacuate one of its camps to protect personnel. Much of the strike action was also report to have halted out of the mine, and had force BHP to declare force majeure. It also became reported that the Vandals had set fire alarms off, and had also cut the electricity in the security booth. All of this had left cameras, and a system for verifying entry to the mine inaccessible.
At this time Escondida is making all the attempts in finding useful resources necessary to impose potential legal action to guarantee the security of all workers. Escondida is also considered to be majorly controlled by BHP, with Rio TInto, and Japans JECO also holding stakes. It was also stated that Escondida had produce 1.15 million tonnes of copper in 2015, and at least 6% of the global out put that year.
Surigao Mining Firm from Philippines faces shutdown - Philippines Mining News - Monday, February, 13, 2016
On Sunday, February, 12, 2017, it was officially addressed by president Duterte who warned of shutting down mining firms. including those who are in the Quake-Ravaged, and particularly if they left any environmental damages. It was addressed by the president that he is warning the mining firms that even if they have billions, and then pay off the people so that they will be concessions, he will not allow it. This was made after a few days when the environmental secretary, Gina Lopez had suspended 23 mining companies in a six month long audit. Several of these mining firms who were issued the suspension were stated to have been located in the province of Surigao, Agusan, Davao Oriental, and compostela Valley. Much of the closure was caused due to the mountains being destroy in which patches could be seen, and the fear for environmental damage is still there.
Illegal Sand Mining on Godavari Bed - Four JCB, and 70 trucks seized after raid on Sironcha Mine - India News- Monday February, 13, 2017
It was rather five days after when the Indian Express had highlighted the massive illegal sand mining operations on Godavari Bed at Sironcha, within the Gadchiroli District. The raid was taken out by district authorities, and the local police force. It was on Saturday, February, 12, 2017, when the police had carried out raids on Saturday night at around 11pm. In the process of this raid the district, and local authorties were able to seize four earth-movers (JCBS) and about 70 trucks which were involved in the illegal mining operation. For most part this special operation was launched by the Additional Superintendent of police, Aheri, R, Raja, and Sub-Divisional Magistrate, Aheri, Ramamurthy.
In this raid it was reported by the two that they were able to seize various illegalities that were used in the sand mining operations. By doing this raid they had undertook this operation to find one JCB Excavating Sand at Wadadham, and three JCB's at Nagaram-1, and Nagaram-2 Mines. In this raid the district, and local authorities had seized all four, including 70 truck that were lined up for carrying sand.
As of right the District and Local Authorities are preparing the panchnama which will then allow them to take the call on the nature of the offenses to be registered to the lease owner. No arrests were made in this raid prior to mining personnel getting the wind of their operation, and had fled the scene. The three mines are among the nine leases which were granted in September, 2016. Much of the lease was reported to have been granted to various contractors in what was considered the biggest sand mining business going on anywhere in Maharashtra
The 10th mine was yet to be auctioned, and the total area in which had been plundered for the mine site comes to 45 hectors. Most of these hectors were also stayed to be partially within the Godavari Sand Beds. Even no plantations were stated to have been constructed prior to mining operations for environmental damage impacts. In addition to this, the mine area also had no flagpost erected in order to state how much of the lease land is to be mined under agreements. Excavations of the sands had resulted in developing huge cannel like trenches that go beyond the regulations in depth stipulations. As this raid had take place it was also proved that mining operations were being run past sunset in which was clearly violating the rules.
Pybar wins mine service contract at the Thalanga Zinc Project. - Australia Mining News - February, 13, 2017.
It was on February, 13, 2017, when Red River Resources had granted the West 45 Underground mine contract to Pybar, in order to restart production at the Thalanga Zinc Project in Queensland, Australia. The Thalanga Zinc project has rather been under care and maintenance since 2012, but the company had released a statement that it will put its operation back into production in 2015. Its main focus is to develop and extract three different deposit in which are known as the West 45, Far west, and Waterloo Deposit zones. Most of the information which was obtained by the company was taken from a study base on all three deposits areas that indicated a good tonnage, and grading. In addition to this, Red River Resources had also secured a $30 million share placement in order to fund the restart of production at the Thalanga Zinc Project.
.In all production the company had stated that the Thalanga Zinc Project will produce 214,000 tonnes of zinc, 3,600 tonnes of copper, 5,000 tonnes of lead, 2,000 ounces of gold, and 370,000 ounces of silver in concentrate over a five year mine life. Other statements state that there is also an outstanding inferred resource potential that still needs to be further explored. Pybar mining Services are expected to mobilize all their equipment into the property within 2 weeks, which development operations will then take place. Red River Resources are please to have Pybar Mining Services do the contract work of the West 45 zone, as well as working with the company on the Thalanga Zinc Project.
Gold shares on the rise due to gold being used as a hedging tool - Chinese Mining News - February, 13, 2017.
On February, 13, 2017, the Chinese gold market had stated that gold products will be good hedging tools in the near future. All share prices, along with companies selling gold has came to an upraise due to the strong demand for metal in which is a strong haven for investors. Chinese analysts stated on February, 13, 2017, that it encourages investors to hold gold related products. These products include gold from bar to coin and to gold backed exchange trade funds, from which are cause by the demands of gold as a hedging tool.
The share price for Shandong Gold Group, Co, Ltd had also rise in stock price by 9% in the past 20 days from 35.41 to 38.71 Yuan's. Other major companies such as Zhongjin Gold Corp, Ltd, chifeng Jilong Gold Mining Company, Ltd, and Hunan Gold Corp Ltd, had its stock prices raised by 3% in the past week. Some gold product retailers such as Beijing Kingee Culture development Co, Ltd, had rose by 5% on the stock exchange. Much of this was caused due to a four year high investment, in which drove price gains, and demand growth.
Investment demand was reported to have also been up by 70% in 2016, which had reach its highest level since 2012. These demands are also followed by the uncertainties of the Trump Administration over new policies in the U.S, and also the changes in Britain and Europe after Brexit would also push up the demand for gold.
Arizona Mining is commonly known as a Canadian base mineral explorations and development company that focuses largely on exploration and development. One of its 100% owned projects is known to also included the Hermosa Project, which is located in Santa Cruz County, Arizona. The Taylor Deposit zone is considered to be a high-grade lead-silver-zinc carbonated replacement deposit. In total indicated resources the Taylor Deposit has been evaluated at 39.4 million tonnes in inferred resources. Additionally, the whole entire Taylor deposit is known to also remain open to the north, west, and south over land controlled by the company. At this point the company plans to extensively conduct diamond drilling in these location in order to determine the limits of this deposit area. Other tests by the company included conducting metallurgical test work on the core from the Taylor Deposit Zone. Assaying from this testing had indicated 92.% Pb, 85.5% Zn and 91% Ag. These testing procedures were done by using the industry standard froth flotation processing technology.
The Taylor Zone is additionally a newly identified minerallized sulfide zone within the Hermosa-Taylor Zinc-Lead-Silver Project in Arizona. Company news statements state that the Taylor Deep was defined on behalf of reinterpretation of previous drill results. This drilling program also included the results of two new drill holes, and is stated to lie below a low angle thrust fault in which is known to be separate from the Taylor Sulfide Resources. Drilling on this zone was rather considered to provide the much needed understanding of the geology, and minerallization. Much of the whole entire zone is situated 3,000 feet below the surface, and has a range of thickness from 9 to 5 feet up to 146.0 feet. The company plans to follow up with additional drilling in order to determine the extent of this newly discovered sulfide zone. .