Mining production globally registered its fourth consecutive contraction, falling 7.5 per cent year-on-year in February compared to a 3.3 per cent fall the previous month, Statistics South Africa said in a report. This registers as the largest fall in production since March 2016 when output fell 17.4 per cent year-on-year. Diamonds, iron ore and gold […]
Pakistan’s military is taking a key role in the development of one of the world’s biggest untapped copper and gold deposits, which is currently stalled by a multi-billion dollar legal wrangle with foreign mining firms, multiple sources familiar with the situation revealed to Reuters News Agency. The Reko Diq mine has become a test case […]
A body representing eight leading global diamond mining companies has warned against excessive mining of the gem, saying this has led to a drop in the prices of the precious stone. It also said that the current scenario in India is not rosy. Last year mines produced 150 million carat rough diamonds globally, which was the highest since 2008, […]
The fast depletion of coal, a strategic resource and India’s fuel of choice currently, has huge implications for energy costs. As much as 64 per cent of coal is used for power generation, while the rest is used for other purposes. A TERI (The Energy & Resources Institute) document of 2013 said India does not […]
Denmark-based FLSmidth will supply machinery and equipment for the 0.5 million tonnes peer annum extension of the world class refinery of Utkal Alumina International Limited (UAIL) in Odisha. Utkal Alumna International is a wholly-owned subsidiary of Hindalco Industries, an industry leader in aluminium and copper. It is the metals flagship company of the Aditya Birla […]
India’s plans to triple its steel-making capacity to 300 million tonnes are likely to be hit hard as a large number of iron ore mining leases are due to expire by 2020, according to Steel Minister Chaudhary Birender Singh. Singh, who was chairing a meeting of the ministry’s Parliamentary Consultative Committee, said the government was […]
Retail inflation dropped to a 17-month low in November at 2.33 per cent, mainly on account of decline in prices of kitchen essentials like vegetables and pulses. Retail inflation, which is calculated on the consumer price index (CPI), for October this year has been revised slightly up at 3.38 per cent from 3.31 per cent […]
Saudi Arabia’s King Salman inaugurated last week the Waad Al-Shamaal project, a 440-square-km city for mining industries in the country’s northern region, Al Arabiya TV said, quoting energy minister Khalid al-Falih. The mining project is expected to boost the kingdom’s gross domestic product by 24 billion riyals ($6.4 billion) and its non-oil GDP by around […]
Industrial production grew at the slowest pace in four months at 4.5 per cent in September mainly due to poor performance of mining sector and lower offtake of capital goods. The industrial production measured in terms of Index of Industrial Production (IIP) was 4.1 per cent in September 2017. Sequentially, the factory output growth for […]
Oil-dependent Saudi Arabia is planning an expansion in mining activity in its effort to attract private investment into the sector to further develop it as one of the main contributors to its economy. Mining grew by 6.3 percent year-on-year (y-o-y) in the first quarter of 2018, according to data issued by the Kingdom’s General Authority […]