By:
On:
In: Business Line

The Singareni Collieries Company Ltd has approved taking up of four new mines and setting up of solar power plants under its phase three expansion.

The 555th Board of Directors meeting of the State-owned coal mining company, that met here today and chaired by N Sridhar, Chairman and Managing Director of Singareni Collieries, approved another open cast mine at Kothagudem area based on the excess production target achievement it has set for the company and accorded clearance for mining plans of Kasipet, RK-1 A, Srirampur-1, 3 & 3A underground mines, as a part of its overall colliery expansion plan.

Under the third phase of solar project capacity addition by of the 300-megawatt solar power plant, various contracts were approved by the board. The board also accorded approval for awarding the erection contract for the third and last 80.5 megawatts capacity solar power plants.

Under the third phase solar project, the

… Read More
/quality/85/?url=http://media.beam.usnews.com/b9/1986e6508b1513d21b781a57e5ec45/tag:reuters.com,2020:newsml_LYNXMPEG8R0TN:12020-09-28T094921Z_1_LYNXMPEG8R0TN_RTROPTP_3_POLAND-EU.JPG">

By:
On:
In: Business News

WARSAW (Reuters) – Poland expects the European Commission to approve a plan to gradually close mines owned by its biggest coal producer PGG and provide more public aid for the industry, although experts voiced doubts.

The spread of COVID-19 among miners has added to problems facing the country’s mining industry as demand for coal falls and costs rise.

Ending weeks of negotiations on the restructuring of troubled PGG, Poland’s government struck a deal with the company’s trade unions on Friday to gradually close its coal mines by 2049.

The agreement is pending European Commission approval and Poland will ask the EU executive to allow public aid, “especially for financing ongoing production, to guarantee the stability of coal companies’ operations.”

“I would be surprised if the European Commission, considering the social approval for phasing out mining, said no,” Deputy Assets Minister Artur Sobon told private radio TOK FM on Monday.

“We

… Read More

By:
On:
In: Business News Articles

KEY POINTS

  • The Warsaw government predicted photovoltaic power will dominate the country’s energy profile by 2040
  • Poland is now the fourth-biggest solar market in Europe
  • Poland agreed to shut down its coal mines by 2049

Poland, one of the world’s biggest producers and users of coal, has made a bold move to phase out fossil fuels and develop more renewables, especially solar energy.

Warsaw predicted photovoltaic power – the method by which solar cells convert energy from the sun to generate electric power — will dominate the country’s energy profile by 2040. By that point, Poland’s solar capacity – that is, the maximum output of electricity from solar power – is expected to surge to 16 gigawatts from 2.5 gigawatts currently.

(One gigawatt is equal to the energy generated by 3.125 million photovoltaic panels, according to the U.S. Department of Energy).

The Polish government also predicted that by 2040, coal

… Read More

By:
On:
In: Starting A Business

The permit covers activities on 40-plus acres near the intersection of Santa Rita Road and National Forest Road 505, also known as Helvetia Road.

In notifying Pima County of the company’s drilling plans, Hudbay’s David Krizek said exploration activities and support activities such as road maintenance will be conducted between Sept. 16 this year and Jan. 15, 2021.

The permit requires Hudbay to take mitigation steps to insure its activities don’t generate dust, said PCDEQ Director Ursula Nelson.

The fact that the company plans to build water and power lines near the Santa Ritas for Rosemont played into its decision to do the upcoming drilling, Lauzon told the Green Valley News.

The lines are planned for along Santa Rita Road, and the drilling is planned for near that road, Hudbay’s Pima County permit shows.

Among the questions Hudbay would not respond to from the Star were whether it would also

… Read More

By:
On:
In: Starting A Business

Introduction

Less than two months ago, I wrote a SA article discussing the potential IPO of the Central Yilgarn iron project in Western Australia, which is a non-core asset of South Africa-focused manganese ore miner Jupiter Mines (OTC:JMXXF). My conclusion was that the spin-off would be valued at some $117.9 million ex-cash at $75 per tonne of iron ore and assigning a 0.1x times the net present value to the Mount Ida magnetite project and Mount Mason hematite project, which form Central Yilgarn.

On September 4, Jupiter released an update on the spin-off, with several important details. The IPO is proceeding, the new company will be led by Greg Durack, the development of Mount Mason will be fast-tracked, and creative options will be explored to advance Mount Ida. Let’s go over these details one by one.

CEO and path forward for Mount Ida

I think the choice of Greg

… Read More

By:
On:
In: Opportunity

In this article, I’d like to discuss how the mining industry, on the one hand, struggles to find enough giant deposits to satisfy the rising demand, and, on the other hand, leaves the mineral resources in moderately-sized deposits stranded.

The enormous inventory of moderately-sized, undeveloped deposits accumulated over the years can be a blue-ocean opportunity for companies with a befitting size and the right competency.

This article concerns mining in general (XME) and junior gold miners (GDXJ) in particular. It is about identifying an emerging investment trend.

Global gold demand and supply

Although the coronavirus pandemic will most likely have a negative impact in 2020 (see here), gold demand is expected to continue to grow in the long term. From 2000 to 2019, gold demand had increased at a CAGR of 0.3%.

Recycled gold plays an important but decreasing role in satisfying gold demand; its contribution decreased at 1.3% per

… Read More

By:
On:
In: Financial News

Ontario Gold Mines

Ontario is Canada’s number one gold-producing province as of 2018, just ahead of Quebec. The major gold-producing geological structure in Ontario is the Abitibi Gold Belt. This gold belt is responsible for several major gold-producing camps in Ontario, including the Timmins Camp and the Kirkland Lake area.

It goes without saying that Ontario is home to many of the major gold-producing companies throughout the world. And what company wouldn’t want to own some of the world’s largest gold mines in a safe, mining-friendly jurisdiction such as Ontario? If you don’t own any of the gold mining companies in Ontario, you may want to reconsider. This article on Ontario gold mines will be a good place to start.

To begin, here are the public gold mining companies that have gold-producing mines in Ontario. This article will only focus on companies with producing mines, while a follow-up article will

… Read More

By:
On:
In: Business News

Keith Ridler, Associated Press

Updated


  • FILE - This Sept. 19, 2018, file photo shows the Yellow Pine Pit open-pit gold mine in the Stibnite Mining District in central Idaho, where a company hopes to start mining again. The U.S. government has released a draft environmental report on the potential effects of three open-pit gold mines in central Idaho proposed by a Canadian company. The U.S. Forest Service will take comments for 60 days on the documents released Friday, Aug. 14, 2020, involving British Columbia-based Midas Gold's plan that includes restoration work in the already heavily-mined area. (Riley Bunch/The Idaho Press-Tribune via AP, File) Photo: Riley Bunch, AP / Idaho Press-Tribune
    FILE – This Sept. 19, 2018, file photo shows the Yellow Pine Pit open-pit gold mine in the Stibnite Mining District in central Idaho, where a company hopes to start mining again. The U.S. government has released a draft environmental report on the potential effects of three open-pit gold mines in central Idaho proposed by a Canadian company. The U.S. Forest Service will take comments for 60 days on the documents released Friday, Aug. 14, 2020, involving British Columbia-based Midas Gold’s plan that includes restoration work in the already heavily-mined area. (Riley Bunch/The Idaho Press-Tribune via AP, File) less
    FILE – This Sept. 19, 2018, file photo shows the Yellow Pine Pit open-pit gold mine in the Stibnite Mining District in central Idaho, where a company hopes to start mining again. The U.S. government has … more


    Photo:

… Read More

By:
On:
In: Financial News

Logo of jester cap with thought bubble.

Image source: The Motley Fool.

Fortuna Silver Mines (NYSE: FSM)
Q2 2020 Earnings Call
Aug 14, 2020, 12:00 p.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good day, ladies and gentlemen, and welcome to your Fortuna Silver Mines second-quarter 2020 financial and operational results call. [Operator instructions] At this time, it is my pleasure to turn the floor over to your host, Carlos Baca, investor relations manager. Sir, the floor is yours.

Carlos Baca — Investor Relations Manager

Thank you, Taryn. Good morning, ladies and gentlemen. I would like to welcome you to Fortuna Silver Mines and to our financial and operational results call for the second quarter of 2020. Today, we will be using a webcast presentation, which will be controlled by us.

To download the presentation, please go to our website at fortunasilver.com, click on the investors tab, then click on the

… Read More