Monthly collections in District Mineral Funds (DMF) have recovered significantly from their lockdown lows, with the gap between collections during 2020 and 2019 narrowing by September-end.

According to data shared by the Ministry of Mines, country-wide DMF collections last month stood at ₹718.46 crore, up from ₹417.29 crore in May, when the country was in the throes of the Covid-19 lockdown.

But compared to the ₹770.99 crore accrued in September 2019, the collections trailed by 6.81 per cent year-on-year.

Under the Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY), mining companies have to make a contribution for the development of districts where mining activities take place, over and above their royalty payments.

These DMF collections, therefore, are directly linked to the country’s mineral output.

The amount is accumulated in funds controlled by individual District Mineral Foundations.

Arriving at the amount

For mining leases granted on or after January 12, 2015, an

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Figure 1

Golden Hill Property – Prospect Location Plan Map
Golden Hill Property – Prospect Location Plan Map
Golden Hill Property – Prospect Location Plan Map

Mine license application expected to be submitted by yearend;
$15 million earmarked through 2021 for drilling

(All amounts are in U.S. dollars unless otherwise stated)

TORONTO, Oct. 05, 2020 (GLOBE NEWSWIRE) — Teranga Gold Corporation (“Teranga” or the “Company”) (TSX: TGZ, OTCQX:TGCDF) is pleased to update the mineral resource estimate for Golden Hill, an advanced-stage exploration project located in southwest Burkina Faso within the central part of the Houndé Greenstone Belt, a highly mineralized gold region that hosts three operating gold mines.

Wholly-owned by Teranga, Golden Hill is a key component of the Company’s growth pipeline and has delivered multiple near-surface, high-grade, oxide gold discoveries transitioning into fresh hosted structurally controlled mineralization extending to considerable depths well below the oxide component of these mineralized bodies.

Golden Hill

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LAS VEGAS, Sept. 29, 2020 /PRNewswire/ — Asia Broadband Inc. (OTC: AABB), through its wholly owned subsidiary Asia Metals Inc., today announced that it has signed a Letter of Intent (LOI) to acquire a high potential mineral property in the state of Colima, Mexico.  The property is located in a prolific iron-copper-gold production area approximately 25 kms east of the Pena Colorada mine in Minatitlan, Mexico.  Advantageously located with direct access to main Highway #3, the property also has a natural water supply.  The land parcel is located at 19°18’47.3″N 103°53’49.9″W and consists of 100 hectares.  Strategically viewed as a diversification acquisition, the Colima property is situated in a region where AABB has a comparative advantage of development resources and expertise readily available to rapidly develop the project.  The Company is conducting its final stages of due diligence in preparation to complete the property acquisition agreement.  

AABB

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TipRanks

Morgan Stanley: 2 Strong Value Stocks to Buy Now

Volatility is back on Wall Street. Following a meteoric rise, fears that valuations have grown too high have put pressure on stocks. With the upcoming presidential election, ongoing pandemic and flaring U.S.-China tensions only adding fuel to the fire, investors are trying to gauge where the market goes from here. Even though many economists believe the Fed’s low interest rate policy fueled the market’s historic five-month rally, Morgan Stanley’s chief cross-asset strategist Andrew Sheets is singing a different tune.Sheets argues that the market’s charge forward wasn’t necessarily driven by the Fed’s actions. Rather, the run-up came as a result of better-than-expected economic data. “As much as the steady rise of markets seems disconnected from the conditions in the real economy, I’d argue that actually they’re more closely related. And going forward, that is a double-edged sword,” he explained. “This improvement,

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