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...New Delhi is pushing state-owned mining groups to pursue mineral reserves in South America and Africa as well as inviting bids to develop domestic mining blocks as it seeks to expand industries such as electric...
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...Endeavour Mining said an investigation into former chief executive Sébastien de Montessus had discovered two more “deliberately disguised” payments totalling $15mn to an unnamed third party....
...Rio Tinto’s board has approved the world’s biggest mining project in west Africa, chief executive Jakob Stausholm said as he outlined the company’s ambition to produce iron ore from the $20bn development...
...Greetings from Rotterdam, where I am at the World Energy Congress, which draws together thousands of people from the global energy industry every three years....
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...New Delhi is pushing state-owned mining groups to pursue mineral reserves in South America and Africa as well as inviting bids to develop domestic mining blocks....
...Meanwhile, the mining sector is flush with cash after bumper profits from higher commodity prices in recent years....
...The metal is heavily used in renewable energy projects and electric vehicles....
...For the White House, tackling Chinese dominance is a strategic priority: China is home to 70 per cent of rare earths mining and 90 per cent of processing capacity, according to the International Energy Agency...
...BHP said in February it would take a A$5.4bn impairment charge on its Nickel West division and could suspend operations....
Miners are battling to whittle down the oversupply of gems
...In December, these nations committed $4.2bn to develop a secure, reliable global nuclear energy supply chain, mainly focused on enhancing enrichment and conversion capacity in the west....
...It hosts primary listings for industry giants Rio Tinto, Glencore and Anglo American, as well as Chilean copper producer Antofagasta and Endeavour Mining, which operates gold mines in west Africa....
...and close to 90 per cent of processing and refining, according to the International Energy Agency....
...is crucial to clean energy technologies of the future....
...Mining and trading group Glencore recorded a big increase in carbon emissions last year after it expanded coal production and restarted an oil refinery in South Africa that was closed by an explosion....
...A mining start-up backed by Bill Gates and Jeff Bezos said it had discovered a vast copper deposit in Zambia, offering a potential boost to the west’s efforts to cut its reliance on China for metals vital...
...Coal plants make up about 16 per cent of electricity generation, overtaken by clean energy supplying about 20 per cent in 2023, while gas supplies about 43 per cent....
...That is, of course, unless and until replacement mining and enrichment capacity is built in the West....
...the metals needed for electric vehicles and renewable energy....
...Rohitesh Dhawan President & Chief Executive, ICMM (International Council on Mining and Metals), London EC2, UK...
...So-called nickel-manganese-cobalt batteries can hold more energy than their counterparts, which is particularly useful for the longer-range, heavier vehicles favoured in the west....
...And when mining stocks are trading at below replacement cost, it’s much easier to buy than build. The pay-off is immediate. Mining stocks are currently below replacement value? Mostly, yes....
...But as the world targets an energy transition away from fossil fuels, countries in the region are diversifying their economies and investing in new industries, including mining....
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