Tata Steel's Noamundi iron mine conducts pilot launch of DAMM
Noamundi Iron Mine (NIM) of OMQ (ore, mines & quarries) division of Tata Steel today announced that it has executed a pilot launch of drone application in mine monitoring (DAMM). With this, NIM has become the first mine in the country to introduce drone in mine monitoring, a statement issued here said. "We have initiated mining surveillance system using space technology along with a mobile app. This will help in stopping illegal mining, monitoring mining plan, production, dispatch and royalty payment. We requested Tata Steel to demonstrate it in Noamundi iron mine," Secretary, Ministry of Mines Balvinder Kumar said. Drone technology is one of the emerging technologies in the digital world. It has immense scope, where large area monitoring and exploration activities are involved. The technology provides access to areas, which are difficult and unsafe to humans, the statement said. This technology also provides scope in mining applications categorically towards mining surveillance, mines survey, geotech investigation, forestry survey, dump management, pit development and mine reclamation. "Tata Steel has embarked on the digital journey to leverage benefits of the latest changes in this field. We are trying to keep pace with the global trends of digitalisation in mining industry and this is a step towards that. This technology of mine monitoring through drone will help us address adequately any bottleneck on the ground with responsive mine administration," Rajeev Singhal, Vice President (Raw Materials), Tata Steel said. Pankaj Satija, General Manager (OMQ), Tata Steel said, "This is one of the initiatives towards being digital. It will be useful for mine monitoring, environment monitoring, lease boundary inspection, reclamation and rehabilitation also." The objective of this application at Noamundi is surveillance of mining area, lease boundary inspection, inspection of safety zone, counting vegetation in reclaimed area and quarry and dump profiling for volume calculations. This trial of DAMM at NIM is being conducted by Skylark Drones, a Bengaluru-based firm. Skylark Drones specialises in drone application in various industries. OMQ Division aims to work smarter and use innovations like autonomous vehicles, Internet of Things (IoT), big data, analytics, remote control centers, predictive maintenance with prime focus on safety.
Coal India to restart search to secure coal assets overseas
: Unfazed by its earlier failed attempts to expand overseas, state-owned miner Coal India Ltd (CIL) will again scout for reserves of coking coal and high-grade low ash thermal coal in countries such as the US, Colombia, Canada, Australia, Indonesia and South Africa.
Mozambique, where last year it had to surrender a block taken for exploration because of its unfavourable geology, is not among the target countries this time, according to bid documents released by CIL.
The public sector behemoth appears to be a little behind in seizing the opportunity to secure assets when coal prices were low, experts said. But the CIL management is of the view that asset prices may have still not bottomed out.
Several coal producers in the US, including Peabody Energy Corp.—the world’s largest private sector coal miner—were until recently wallowing in losses and had filed for bankruptcy last year in the wake of falling coal prices.
But coal prices have started to firm up again, and many of them might emerge from the crisis within months with the help of fresh bank funding.
Inviting bids from investment bankers, CIL said it will not be able to meet the demand for coking coal and high-grade low ash thermal coal from its own mines in India, despite efforts to ramp up production.
Reserves of recoverable coking coal, which is used in production of steel, is limited in India, and high-grade low ash thermal coal is almost unavailable in India, CIL said in its bid document.
This isn’t the first time CIL is scouting for assets abroad.
Under the leadership of Partha S. Bhattacharyya, who retired as CIL chairman in February 2011, the company had almost concluded a deal to acquire a 10% stake in Peabody Energy, which would have given it access to a large volume of coking coal mined in Australia at a concessional price.
But the deal didn’t materialise because there were no clear guidelines on overseas acquisitions, Bhattacharyya had then said.
Overseas acquisitions are fraught with risks, and no executive at the state-run enterprise would take responsibility for a failed investment, said a key official at CIL, who didn’t wish to be named. “It had serious implications, even after retirement.”
Though the government tried to make things easier by issuing some guidelines towards the end of 2011, CIL started to explore other ways of importing coal such as through long term supply contracts with international producers. This plan, too, didn’t materialise.
This time, CIL is looking to partner overseas miners to start new mines or take equity interest in operating mines which will give it the right to import a certain share of the output—an arrangement which is known as production sharing or participation interest in mining parlance.
Previous attempts to acquire assets abroad failed because asset prices were too high for CIL’s liking, the spokesperson for the miner said, adding that miners were at that time driving a hard bargain because they had too many suitors.
Globally asset prices could soften further, according to this person, and CIL has entered the market at the right time. There’s been a bump in coal prices recently, but this would ease out in 3-4 months, he added.
“Scouting for coking coal assets abroad makes sense,” said an industry expert who didn’t want to be named. “But it is late in the day to look for thermal coal.” In India, demand for thermal coal—or the variant used in power generation—is not growing at a pace previously anticipated. That apart, the price of solar power is fast coming down, this person said, asking not to be named.
CIL to empanel merchant banker for acquiring foreign coal assets
State-run Coal India is to empanel a merchant banker or an investment banker for assistance in acquiring coal assets abroad, the leading miner said in a tender document.
"Coal India Limited (CIL) intends to acquire coal assets abroad with a view to import the produces to India and enhance the energy security of the nation. To accomplish this mission, CIL has embarked upon the process of empanelment of internationally reputed Merchant Banker/Investment Banker for rendering assistance in acquiring assistance in acquiring coal assets abroad," the tender document said.
The coal miner's target destinations are among Australia, Indonesia, South Africa, the US, Canada and Columbia, it said.
Incidentally, the CIL had submitted its application to the National Institute of Mines of Mozambique for complete surrender of prospecting licences which were awarded to its wholly-owned subsidiary, Coal India Africana Limitada (CIAL) as mining would be "technically not feasible" in the licensed areas.
CIL's latest annual report said that a mineability study was undertaken based on the findings of the geological report. The findings revealed that it was technically not feasible to do mining in the licensed areas of CIAL in Mozambique.
"Accordingly, CIL board accorded its approval for surrender of prospecting licences...to the Government of Mozambique," the report added.
Govt open to probe into rat-hole mining
A day after reports of rampant illegal mining despite an NGT ban hit the headlines, state counsel Ranjan Mukherjee said the Government will conduct an inquiry into the matter if it is brought before the State Government.
Speaking to The Shillong Times on Monday, Mukherjee said the State will take action against all who are involved in rat-hole mining even as he assured that the Government would make sure that the NGT orders are implemented in letter and spirit.
He said if the matter is brought to his notice, he would be given advance copy which he would pass on to the State Government so that an in-depth inquiry is made into the reports and anyone found wanting would be brought to book.
The report said despite stringent orders from the National Green Tribunal (NGT) against rat-hole mining in Meghalaya, there is rampant mining, especially in areas falling under Elaka Nongkhlieh and Elaka Sutnga, in East Jaintia Hills.
The CSWO and media persons, while going towards the villages falling under Sutnga and Nongkhlieh Elaka, near Saipung village on January 14, noticed rat-hole mines in villages of Khaidong and Moolasngi under Nongkhlieh Elaka.
Those who carry out illegal mining are putting at risk thousands of lives which would be affected if the caves collapse as rat-hole mining is done below the caves.
There were many coal mines where machines with generators are used to extract coal and also to take the miners 400-500 ft down depending on the availability of coal. The series of NGT orders only allowed transportation of already extracted coal in 2014 and not coal from fresh mining.
Read more at http://www.theshillongtimes.com/2017/01/17/govt-open-to-probe-into-rat-hole-mining/#9ulD6Q0g5q4SAgkh.99
NTPC’s Thermal Power unit commenced its operation
State owned NTPC Limited’s 1st Unit of 250 MW of Nabinagar Thermal Power Project of Bhartiya Rail Bijlee Company Limited (BRBCL-a subsidiary of NTPC Limited) (4x250 MW) is declared on commercial operation w.e.f January 15, 2017.
With this, the commercial capacity of Nabinagar Thermal Power Project of BRBCL and NTPC group has become 250 MW and 46178 MW respectively.
NTPC Limited is an India-based company, which is engaged in the generation and sale of electricity. The principal business activity of the Company is the electric power generation by coal-based thermal power plant.
Atlas Copco Plans Split in Two to List Mining Tool Business
Atlas Copco plans to break itself up and list its mining tools business in the biggest-ever shakeup of the Swedish company that could spark takeover interest.
A newly created mining and construction-equipment company with annual sales of about 28 billion kronor ($3.1 billion) will be spun off in a tax-free distribution of shares to investors, the Stockholm-based company said in a statement on Monday. Under the plan that will see the departure of longstanding Chief Executive Officer Ronnie Leten, Atlas Copco will retain the compressor and vacuum businesses that have revenue of 74 billion kronor.
The move comes a week after Atlas Copco said it was planning to sell a road-construction equipment business as part of Leten’s refocus on products with better profitability and growth. Along with Nordic peers like Sandvik AB and Metso Oyj, Atlas Copco has suffered a downturn in sales to miners as falling commodity prices crimped their investments. Atlas’s mining-equipment business has weathered the downturn better than competitors, according to Swedbank analyst Anders Roslund.
“The new company is a business that a large player like Caterpillar or Komatsu might be interested in buying,” Roslund said by phone. “I don’t think that’s imminent, but it’s an interesting and well-run business.”
Financial Impact
The listing of the mining-equipment business -- planned for the second quarter of 2018 -- may increase its ability to engage in mergers and acquisitions, Leten said in an interview. In recent years, most of Atlas Copco’s M&A activity has involved its industrial tools and compressor divisions. The latter’s scope was broadened by acquiring vacuum technology companies including Edwards Group and OC Oerlikon Corp AG’s Leybold.
“The work will be done now to evaluate, even more, what the strategic opportunities are,” Leten said. “In a bigger organization, if there are a lot of things happening, you may say ‘there’s already too much on the plate, let’s finish this first.”’
Atlas Copco will work toward putting the split plan to shareholders for approval in 2018, according to the statement. The company said it doesn’t expect a large financial impact from the move.
Rather than being a decision to unlock hidden value, the move could be aimed at allowing management to sharpen its focus and to avoid the company becoming a conglomerate, Morgan Stanley analysts wrote in a note.
“The board and management believe that long-term shareholder value will be created,” Chairman Hans Straberg said in the statement. “Both businesses are global leaders in their respective fields and will benefit from a more focused management responsibility.”
Atlas Copco shares rose as much as 3 percent and were trading 0.7 percent higher as of 3:13 p.m. in Stockholm, giving the company a market capitalization of 335 billion kronor.
There is nothing “concerning” about the departure of Ronnie Leten although it could be viewed as negative initially “given the success of the company under his stewardship,” according to the Morgan Stanley note.
Brazil's Vale loads first ore from new S11D mine
Brazilian miner Vale SA said on Monday it has loaded the first commercial shipment of iron ore from its giant new mine in the Amazon known as S11D.
Iron ore from the new mine formed part of the 26,500 tonnes of the steel-making raw material loaded onto three ships at the company's port in Sao Luis in the state of Maranhao on Friday, Vale said in a statement.
http://in.reuters.com/article/vale-sa-mine-shipment-idINE5N199017
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Anurag Singal
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Essel Mining & Industries Ltd
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