In a move to slow Russian advances in Ukraine, US President Joe Biden has approved the provision of anti-personnel mines to the Ukrainian military. This comes as reports state that North Korean troops have joined Russian marines and airborne units in battles throughout the country. The addition of anti-personnel mines marks a new level of assistance from the US in the ongoing conflict, with the mines being more deadly and longer-lasting than the previously provided anti-tank mines. Meanwhile, Ukraine's air defence units are actively working to repel a Russian air attack on the capital city of Kyiv.
In an effort to better regulate and manage its resources, Namibia's mines minister Tom Alweendo announced stricter measures for issuing mining licenses at a conference in Windhoek. With less than half of the approved licenses currently active, the country is aiming for a Mining Agreement to be negotiated between the Ministry and the license holder before approval. With a focus on technical expertise and funding, Namibia is seeking to benefit its residents and receive more value from its mineral deposits.
Copper 360, a mining junior focused on the copper-rich Northern Cape region, is poised for greater revenue with the launch of its Rietberg underground mine. This marks a strategic shift for the company, with production from other mines set to contribute to its centralized processing facilities. CEO Jan Nelson believes that the high-grade ore and lower cost of extraction at Rietberg will bolster the company's success, despite its recent failure to meet projected profits.
In a significant shift in ownership, retail investors now hold a 52% stake in AIC Mines Limited, giving the general public more power to influence management and governance decisions. This can have major implications for the company's future stock performance. On the other hand, institutional and private companies hold 13% and 31% ownership respectively. While institutional participation can provide credibility, it's important to not solely rely on it as they too can make mistakes. In contrast, hedge funds have a minimal stake in the company, with FMR Investments Pty Ltd being the largest shareholder with 14% ownership.
The Supreme Court, in its latest attempt since the 1990s, has ordered the Rajasthan government to close 68 mines that operate within a 1-kilometre radius of the Sariska tiger reserve in India. These mines, which extract marble, dolomite, and limestone, have been violating laws that protect the reserve and its critical tiger habitat. Despite previous attempts to halt mining in the area, including a CBI investigation, the situation has not improved. The decision was made based on the findings of a fact-finding committee and the need to protect the sanctuary's boundary and safety zone.
Namibia is positioning itself as a key player in the global supply chain for critical minerals needed for the green energy transition. Speaking at a minerals discussion in Windhoek, Minister of Mines and Energy Tom Alweendo outlined the country's strategy to leverage its rich mineral resources and attract international investment for a competitive critical minerals sector. Alweendo stressed the importance of global coordination and dialogue for the sustainability of critical minerals supply chains, and highlighted Namibia's approach to the energy transition, advocating for a just process that considers African circumstances. With its vision to be a significant and trusted player in the global supply chain, Namibia aims to create jobs across the value chain, from exploration to manufacturing.
A report from the Afghanistan Humanitarian Trust Fund sheds light on the struggles faced by the country, as the minister of mines speaks out about the importance of processing minerals within the country. Meanwhile, the Taliban's leader visits a major dam project and US Secretary of State Antony Blinken meets with Chinese President Xi Jinping to discuss China's involvement in international conflicts. Despite arrests, pro-Palestinian protests continue to escalate among American university students.
A team of researchers from IIT-Roorkee discovered the fossil of a colossal snake that lived on Earth 47 million years ago in Gandhi Nagar's lignite mines. The snake, named 'Vasuki Indicus', is believed to be the largest ever to exist, surpassing the previous record holder, Colombian Titanoboa. The fossil, including 27 vertebrae, indicates that the snake could have weighed a ton and stretched up to 49 feet, making it one of the heaviest and longest snakes in history. Scientists speculate that this giant serpent may have been a gentle giant, resting its head on its coiled body or moving slowly through the swamp.
Taiwanese rescue efforts are underway as 70 coal miners remain trapped in two separate mines after the country experienced a 7.2 magnitude earthquake, the strongest in 25 years, on Wednesday. Nine people have been killed and over 900 injured, with landslides and damaged roads causing traffic disruptions. The earthquake was also felt in China, where a small tsunami was detected. Despite regular drills and preparation for earthquakes in Taiwan, the government did not issue any alerts for this one, leaving many residents scared and in shock.
Union Mines Minister, Pralhad Joshi, revealed on X (formerly Twitter) that India has auctioned 354 mineral blocks in the past nine years, with the majority being auctioned in the last three years. With the release of the country's first critical mineral list, India is gearing up to launch auctions on these critical mineral blocks, highlighting the growth of their mineral auction industry. Get BusinessLine apps to stay connected and receive additional benefits.