GolGohar Company: 3 mining power plants are ready by the end of this year

Mining News Pro - By the end of this year, three power plants will enter the electricity production circuit under the management of IMIDRO. These power plants will be set up by Mobarakeh Steel Co., Gol Gohar Mining and Industrial Co. and Al Mahdi Aluminum Company.

Gol Gohar’s iron ore extraction reached 152 percent this year

Mining News Pro - In the first half of this year, GolGohar Mining and Industrial Company extracted 152 percent of iron ore.

Esfahan Steel Company guarantees the future of Iran’s coal production

Mining News Pro - Chief executive of ESCO says that this company guarantees the future of Iran’s coal production.

Iron ore benchmarks diverge as China tries to cool prices

Mining News Pro - The two main spot prices for iron ore diverged last week, with Singapore-traded contracts gaining but China’s domestic futures posting a decline.

Jack Lundin assumes top job at Lundin Mining

Mining News Pro - Lundin Mining announced that former president Jack Lundin has officially assumed the role of chief executive officer and will join the board of the Canadian miner on January 1.

Vitol funds to help restart Australia coal mine shut since 2007

Mining News Pro - Australian Pacific Coal Ltd. and its joint venture partner have agreed terms for $60 million funding from Vitol Asia Pte Ltd., allowing them to restart a coal mine in New South Wales that’s been shut for more than 16 years.

enCore Energy becomes newest US uranium producer after Rosita restart

Mining News Pro - enCore Energy has officially become a uranium producer, with the restart of the South Texas Rosita in-situ uranium central processing plant.

Recording the second monthly production record in the continuous steel casting unit of Mobarakeh Steel

Mining News Pro - A new monthly record was set in the continuous steelmaking and casting unit of Mobarakeh steel in the seven months ending October 1402.

36% growth of Chadormalu Company’s income in 8 months of 1402

Mining News Pro - Chadormalu Mining and Industrial Company recorded a significant income in 8 months of this year with of 373 thousand billion Rials.

Anglo consults South Africa on potential platinum, iron job cuts

Mining News Pro - The company has held talks with the government over the potential reduction in its workforce, the people said, asking not to be identified because the matter hasn’t been made public. Senior government officials asked the company to consider delaying the cuts until after elections likely to take place around May, three of the people said. SIGN UP FOR THE IRON ORE DIGEST The Congress of South African Trade Unions said that Anglo has also spoken to one of its members, the National Union of Mineworkers, about the matter. The job cuts would be another blow to the electoral prospects of President Cyril Ramaphosa and his ruling African National Congress. Anglo is already in the midst of plans to slash corporate and head office jobs globally, with many of those positions in South Africa. The company joined other mining behemoths in posting a steep drop in first-half profit as China’s economic slowdown damped earnings. Anglo American Platinum Ltd. — about 79% owned by London-based Anglo — is contending with a 14% fall in the price of platinum this year and a 41% plunge in palladium, a valuable byproduct. Rival Sibanye Stillwater Ltd. said in October that it may fire more than 4,000 platinum workers. Kumba Iron Ore Ltd., owner of South Africa’s biggest iron ore mine and a 70% subsidiary of Anglo, said third-quarter iron ore sales fell 12% from the year earlier, largely because of the poor performance of state ports and freight rail company, Transnet SOC Ltd. The company is almost out of storage space for the ore it has mined and can’t rail it, one of the people said. “It is no secret that the current operating environment is very tough for both macro and South Africa-specific reasons and we are playing a major role in working across business and with government to help resolve some of those South Africa constraints,” Anglo said in a response to queries. “Beyond that, it would be inappropriate for us to comment on the details of our discussions.” While a final decision on whether to fire workers and how many positions may be affected has not been taken, the job cuts may impact Anglo American Platinum first, the people familiar said. Those at Kumba may be deferred until later, they added. The minerals department didn’t respond to a request for comment, while Gwede Mantashe, minerals and energy minister and chairman of the ANC, didn’t answer a call to his phone or respond to a text message. PGM prices are falling because of global economic conditions, especially the weaker-than-expected recovery in China. Kumba’s woes are directly related to the sub-standard performance of Transnet, whose inability to rail commodities to ports has also led to coal companies Seriti Resources Holdings Ltd. and Glencore Plc to start talks over job cuts. The plunge in rail performance has seen the amount of iron ore transported to ports fall to the lowest in a decade, while coal shipments by rail are at a 30-year low, according to a report prepared for Ramaphosa’s office. In an Oct. 24 production report, Kumba said “ongoing rail and port challenges have increased our focus on cost optimization and initiatives to match production and optimize logistics capacity.” It said it had 9 million tons of iron ore in stock at the end of September, almost double the amount it had on site a year earlier.

Nornickel to pay $18m to drop its stake in nickel JV in South Africa

Mining News Pro - Russia’s Nornickel will pay $18 million to pass its 50% stake in Nkomati nickel mine in South Africa to its partner African Rainbow Minerals (ARM), ARM said on Friday, ending years of Nornickel’s attempts to exit Africa.

Union withdraws industrial action at BHP’s Pilbara iron ore operations

Mining News Pro - A union representing train drivers at BHP’s Pilbara iron ore operations in Western Australia has withdrawn industrial action ahead of an updated employment offer from the mining giant, a union representative told Reuters on Friday.

Green hydrogen, CO2 used to produce e-fuel for hard-to-electrify vehicles

Mining News Pro - An electro-fuel aimed at vehicles that are difficult to electrify has been produced from green hydrogen and carbon dioxide.

Panama copper mine is winding down amid blockade, union says

Mining News Pro - First Quantum Minerals Ltd. is winding down operations at its Panama copper mine as a blockade of boats restricts key supplies to the site, according to a union leader.

China-linked fund seeks ouster of Australia rare earths miner’s chairman

Mining News Pro - A China-linked fund that is a major shareholder in Australia’s Northern Minerals has filed a motion to oust the rare earth developer’s chairman after the fund’s move for a higher stake was rejected on national interest grounds early this year.

Ecuador-focused Adventus and Luminex to merge

Mining News Pro - Canadian junior Adventus Mining is acquiring cohort Luminex Resources in an all-stock deal that creates an Ecuador-focused copper-gold development company.

Canada’s Lassonde ‘mystified’ by Teck choice of Glencore bid for coal unit

Mining News Pro - Canadian businessman Pierre Lassonde said on Wednesday that he is “mystified” by Teck Resources’ decision to sell its coal unit to a Glencore-led consortium for $9 billion because his group bid the same price.

Canada likely to approve Glencore-Teck deal despite foreign investment scrutiny

Mining News Pro - As Glencore prepares for the long grind to convince Canada of the virtues of the Swiss trader-led consortium’s $9 billion bid for Teck Resources’ coal unit, investors and lawyers are optimistic about the deal approval despite the government’s increased scrutiny of foreign investments.

Australian miner signs deal with science agency to recover vanadium

Mining News Pro - Tivan Ltd. has signed a long-term deal with the Australian government’s science agency in a bid to develop critical minerals processing technology designed to bolster the recovery of vanadium.

Three initiatives lead the way in decarbonizing steel production

Mining News Pro - Electrical equipment multinational ABB released a report spotlighting three initiatives that are using carbon capture technology, hydrogen and electrochemistry as routes to decarbonizing primary steel production.

EU Commission proposes Russian diamond ban

Mining News Pro - The European Commission has proposed a ban on imports of diamonds and liquid petroleum gas from Russia and also to tighten implementation of a price cap on Russian oil as part of new sanctions against Moscow, EU diplomats said on Wednesday.

De Beers keeps production target despite supply glut

Mining News Pro - De Beers is sticking to its 2023 production target because it is confident of the long-term outlook, its chief executive said on Monday, despite a glut in diamond supply amid weakening demand.

Codelco CEO sees copper output in 2023 closing at 1.315mt

Mining News Pro - Production at Chile’s Codelco, the world’s largest copper miner, will close the year at around 1.315 million metric tons, towards the lower end of the estimated range, the company’s chief executive said in an interview published on Sunday by La Tercera.

The diamond world takes radical steps to stop a pricing plunge

Mining News Pro - When the world’s most important diamond buyers arrived at De Beers’ offices in Botswana late last month, they were presented with a rare offer by their host: the option to buy nothing at all.

South Africa president deploys army to tackle illegal mining

Mining News Pro - South African President Cyril Ramaphosa has authorized the deployment of 3,300 army personnel to help combat illegal mining activities, Ramaphosa’s office said in a statement on Thursday.

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