Global mining output in February hits three–year low; Asia continues to hold the greatest rewards

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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 […]

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Pakistan military to play key role in developing giant Afghan copper and gold mines

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 […]

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Global diamond miners to cut production by a third in order to revive prices

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, […]

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FLSmidth to expand Hindalco’s alumina refinery in Odisha, India

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 […]

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Saudi Arabia to open $22.7 billion mining project; to increase non-oil GDP by 3%

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 […]

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