JAKARTA—Indonesia President Joko Widodo said on Thursday the government has revoked more than 2,000 mining, plantation, and forest-use permits due to non-compliance or because they had not been utilized. Jokowi, as the president is known, said the action was taken to improve governance and transparency in Indonesia’s rich natural resources sector. The permits revoked include…
Ottawa’s Goal of a World-Leading Battery Supply Chain Faces Daunting Realities Including China
January 5, 2022
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Ottawa sees a massive economic opportunity in creating a battery value chain for green energy and electric vehicles (EVs). Canada has a lot of what’s needed to gain a competitive advantage in this supply chain—the natural resources as well as research and industry expertise. Still, it has a long way to go to overcome challenges…
Flood From Illegal Coal Mining Traps 21 People in China
BEIJING—Rescuers on Thursday were trying to reach 21 people trapped by a flood because of illegal mining for coal in northern China, authorities said. The accident happened about 11 p.m. Wednesday in Xiaoyi city in Shanxi Province, a major coal-producing region southwest of Beijing. Water was being pumped out of the mine, and the water…
Flood From Coal Mining Traps 21 People in China
BEIJING—Twenty-one people were trapped by a flood in a coal mine in northern China, authorities said. The accident happened about 11 p.m. Wednesday in Xiaoyi city in Shanxi Province, a major coal-producing region southwest of Beijing. The actual number of casualties is difficult to verify, as the Chinese regime routinely suppresses or alters information. Police…
Net Zero Target Not ‘Zero-Sum Game’ for Mining Jobs: Premier Palaszczuk
Queensland Premier Annastacia Palaszczuk has said investment and support will continue to flow into her state’s mining industry despite Australia’s commitment to net zero carbon emissions by 2050. Global decarbonisation ambitions, recently the focus of the COP26 summit in Glasgow, did not mean a “zero-sum game” for the resources extraction industry in mineral-rich Queensland, the premier…
China to Impose Punitive Fees on Cryptocurrency Mining Amid Power Shortage
China’s National Development and Reform Commission (NDRC) on Nov. 16 announced that it will impose “punitive electricity prices” on some cryptocurrency miners. In a press conference, Meng Wei, spokesperson for NDRC, stated that the measure will be imposed on companies that mine crypto and only pay residential electricity prices. In addition, industrial-scale mines and state-owned…
European Stocks Inch Up as Tech, Mining Shares Offset Losses in Ericsson
October 19, 2021
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Europe’s main stock index edged higher on Tuesday as gains in mining and technology shares helped offset losses in Sweden’s Ericsson, which reported a hit from global supply chain problems. The pan-European STOXX 600 rose 0.2 percent, with miners, utilities, and technology stocks leading morning gains. Technology shares were also behind a rise in main…
Communist China’s Grand Strategy for a Small African Country (Part 2)
October 18, 2021
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In addition to its rich reserves of iron ore, the Republic of Guinea also holds 7.4 billion metric tons (pdf) or one-fourth of the world’s total reserves of bauxite, the main source of aluminum. Data provided by Western Securities show that in 2020, Guinea exported 82 million metric tons of this important mineral, of which 64 percent was…
The Chinese Regime’s Growing Economic Footprint in Guinea: Part 2
October 18, 2021
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News Analysis In addition to its rich reserves of iron ore, the Republic of Guinea also holds 7.4 billion metric tons (pdf) or one-fourth of the world’s total reserves of bauxite, the main source of aluminum. Data provided by Western Securities show that in 2020, Guinea exported 82 million metric tons of this important mineral, of which 64…
Square CEO Dorsey Says Looking to Build a Bitcoin Mining System: Tweet
October 16, 2021
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Square Inc. Chief Executive Officer Jack Dorsey said on Friday the fintech firm is looking to build a bitcoin mining system based on custom silicon and open source for individuals as well as businesses. This would add to Square’s existing bitcoin-focused projects including a business to build an open developer platform, as well as a…
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