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Kitco News - Pakistan has been ordered to pay nearly 6 billion in damages by a World Bank arbitration court to Tethyan Copper, a joint venture between Chilersquos Antofagasta and Canadarsquos Barrick Gold.
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The fine consists of a penalty totaling 4.08 billion and interest amounting to 1.87 billion. Tethyan Copper sought 11.43 billion in damages. The arbitration court is yet to release all the details about its ruling.
The case centered on the Reko Diq mine, which is a massive copper and gold deposit discovered by Tethyan Copper more than a decade ago that is located at the foot of an extinct volcano near Pakistanrsquos border with Iran and Afghanistan.
The Reko Diq mine was said to have the potential to be one of the biggest untouched gold and copper mines in the world.
Tethyan Copper invested more than 220 million into the mine before Pakistanrsquos government abruptly rejected the companyrsquos mining lease required to stay operational back in 2011.
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On Sunday, Pakistan responded to the ruling, saying it welcomed Tethyan Copperrsquos willingness to negotiate.
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Mission 2016s plan will increase recycling efforts, greener mining and refining techniques, reduce the cost of environmental damage on the surrounding community, and increase government involvement in the regulation of dirty mining practices. Betournay, M. C. 2011, April 7. Underground Mining.
Pakistan has laws to ensure the safety and welfare of workers engaged in mining and quarrying. These include the Mines Act 1923, the Mines Maternity Benefits Act 1941, the Coal Mines Fixation of
Dec 30, 2017nbsp018332The absurdity of coal mining and thermal power plants in areas with acute water stress should be self-evident. Mining operations require around 250 litres of freshwater per tonne of coal.
In short, it depends on the view of coal as being a critical energy source for the future. The truth is thats far from the case.
Thar Coal has been touted as the panacea to the countrys long-term energy woes. But aside from its environmental repurcussions, it doesnt even make economic sense, argues an energy expert.
During the coal boom, the many ill-effects of coal electricity, from environmental destruction to greenhouse gas emissions to a lethal impact on human health became increasingly obvious, extensively researched and documented. Despite a growing toll on planet care and human life, coal was considered a necessary evil for cheap electricity and competitive industrialisation. Around the turn of the 21st century, it dawned on the more affluent and technologically advanced countries that coal was more of a historical burden than future necessity. The lure of the dirty watt began to rapidly fade.
Pakistan was unable to mine coal in its heyday. The opportunity of coal from the Thar desert became a hot topic about a decade ago, ironically when the smarter economies started its retirement planning from their energy portfolios. The perception built around the Thar coal reserves was the discovery of a momentous national solution, even though the reserves consist of lignite, a lowly ranked form of coal in energy content.
The selected mining area, called Thar Block-II, is said to have exploitable lignite reserves of 1.57 billion tonnes with the potential to generate five gigawatts power for 50 years. The leased mining area is spread over 95.5km2. Apparently, the project planning was initiated several years ago, around 2010. The promotion material boasts, Given the large energy deficit and the lack of any sustainable indigenous resources in the country, the Thar coal project presents a tremendous growth opportunity.
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The refining processes that are typically found paired with hardrock mining are just as harmful to the environment as the mining itself perhaps even more so. Chat Online. Home The coal ash dryer made by our company, as the Chinese leading raw coal drying machine supplier, is specialized in drying the coal ash and then makes new use of it.
Jan 03 2012018332Joy Mining Machinery releases a new version of its most popular video Pioneering Underground Mining It was first produced in 2001 to support a.
A consortium led by China Machinery Engineering Corp is set to finance a coal based power plant and a mining project being developed by Engro Corp a Pakistani firm.
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Coal Machinery Used In Mining In Pakistan Coal Machinery Used In Mining In Pakistan Pakistani coal mines and resources Wikipedia The United Musakhel Mining Company Pvt Limited offers to investors from within the country and abroad to invest in coal mining to reduce energy crises in Pakistan.