Carbon tax with no offsets, may damage mining

A Minerals Council South Africa survey undertaken in August 2019 of 18 of the larger mining companies across the sector confirms the significant costs that will be incurred as a result of the introduction of carbon tax.

Across the companies surveyed, carbon tax costs are estimated at as much as R517 million a year in phase 1. In the absence of the offsets allowed in phase 1 (as this information is still not known), the carbon tax liability for these 18 companies is estimated to increase to R5.5 billion per year in phase 2.

Moss gold production increased

Northern Vertex Mining announces gold and silver production totaling 3,431 gold equivalent ounces (3,091 ozs gold and 25,529 ozs silver) during the month of August at the Moss Gold Mine, located in Northwest Arizona.

Kenneth Berry, President and CEO, states: “We are pleased to report another production record at the Moss Mine and are delighted to be setting records in this higher gold and silver price environment.

Dynacor CSR in Peru

Dynacor Gold Mines - a leading ore purchasing and processing corporation servicing artisanal and small-scale miners (ASM) in Peru, announced new advances to its corporate social responsible (CSR) projects under the PX Impact label. Dynacor works to continuously improve the health and education of the ASM (artisanal small-scale miners) communities it serves.

GIA India Alumni Events held

GIA India hosted networking events in New Delhi on Aug. 19, in Jaipur on Aug. 20 and in Mumbai on Aug. 26 to foster networking and discussion among graduates of GIA education programs. More than 70 GIA alumni members from these cities gathered to meet with Shahdeh Ammadi, GIA Director of Institute Relations and for the opportunity to discuss creating more networking opportunities, future alumni engagement plans and various ways to strengthen the community.

“It was a privilege to meet and interact with our alumni base in India. The expertise of our seasoned alumni paired with the drive and innovative spirit of our recent graduates, made for dynamic discussions throughout my trip. There is great potential for growth and expansion in all we do to support continued advancement in their professional development. India has been, and will be a priority for our alumni engagement, as it is one of GIA’s largest global concentrations of graduates,” said Shahdeh Ammadi, GIA Director of Institute Relations.

IPO applications through app!

PhonePe, India’s leading digital payments platform announced that it now enables users to participate in IPOs using their BHIM UPI Id created on the PhonePe App. This makes PhonePe the first non-banking app to enable IPO applications through UPI.

With this launch, PhonePe users can participate in forthcoming IPO’s in 3 simple steps:

Government moves to Corruption free business

Union Minister of Commerce & Industry and Railways, Piyush Goyal, held a meeting with around 100 domestic industry, manufacturers, associations of various sectors and users in New Delhi to discuss and provide a holistic view about regulatory instruments for the formulation and implementation of effective trade policy and development strategy. Senior officials of various Ministries and Departments of Central Government also participated in the meeting. Ministers of State for Commerce & Industry, Hardeep Singh Puri and Som Parkash were also present during the meeting.

A major boost to Make-in-India initiative

The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for Finance & Corporate Affairs Smt Nirmala Sitaraman during the Press Conference in Goa today. The Finance Minister elaborated further, the salient features of these amendments, which are as under:

FM also Cheers GJ Industry & Trade

The 37th GST Council met in Goa under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman. GST Council took numbers of decisions relating to changes in GST rates, ITC eligibility criteria, exemptions and clarifications on connected issues. The government also focussed on GJ (Gem-n-Jewellery) industry & trade.

Alrosa remains the industry leader in social investments

Alrosa confirmed its status as a leader among gold and diamond mining companies in terms of investments in social programs, according to a study conducted by the PwC Advisory.

The study, which is based on the official reports of companies who mine precious metals and rough diamonds, covers the period from 2016 to 2018 and focuses on key aspects of sustainable development, including investments in social programs and environmental protection measures, energy and water consumption, greenhouse gas emissions, and the number of female employees.

Responsible Sourcing Special Report released by CIBJO!

With fewer than nine weeks to go to the opening of the 2019 CIBJO Congress in Manama, Bahrain, on November 18, 2019, the second of the CIBJO commissions' Special Reports has been released. Prepared by the CIBJO Responsible Sourcing Commission, headed by Philip Olden, the report provides an overview of the first Responsible Sourcing Blue Book, which was approved in January of this year. It defines a universally agreed-to set of recommended responsible sourcing principles, which can be applied by all members of the greater jewellery industry.