Reefton revival - small town sniffs gold fever
13 minutes to read The rock face is a dripping mask of greywacke and argillite, illuminated by the lights of the jumbo , as the rock drilling machine is known in mining jargon. The diamond drills extend toward the tunnel s end, manipulated by twin booms. Once the drilling is complete, explosives finish the job and the tunnel advances at a rate of about 8 metres a day.
The drills are silent for the moment but despite the damp, the air is dusty. And the tunnel is filled with the thrum of the ventilation system and the low rumble of a huge front-end loader. Back and forth it travels between the rubble in the tunnel s depths and the surface, a length of some 300m.
How ore auctions undermine market
The current round has skewed the market in favour of captive users vis-a-vis merchant miners
The March 2021 amendments to the MMDR Act are expected to bring in transformative reforms for the Indian mining sector. Odisha, with huge iron ore resources, has already completed the first phase of iron ore auctions in 2020 and the next lot of auction is in the offing.
There are a few lessons from the previous auction. First, the 2020 auction gave rise to exorbitantly high winning bids, which are irrational and unsustainable. It witnessed bids in terms of revenue sharing premiums ranging from a low of 90.9 per cent to the highest of 155 per cent.
COVID-19: veja o número de pessoas já vacinadas na sua cidade em MG em.com.br - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from em.com.br Daily Mail and Mail on Sunday newspapers.
In response to COVID 19, Mines and Money’s leading international event series for capital-raising and mining investment is now in a virtual and online format.
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The 3-day event, Mines and Money Online Connect, offers investors and senior management teams of mining companies the opportunity to continue to connect, meet and discuss project updates and share current presentations virtually.
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