Portugal’s mining strategy may favour copper over lithium
Portugal already has the largest copper mine in the European Union, operated by Lundin Mining.
Giant Russian steel and coking coal producer Mechel OAO said on Wednesday it has halted operations at its Sibirginskaya mine due to high gas levels in a mined-out area, which indicates self-heating of coal. Mining works at the site were halted and all miners returned to the surface. No carbon monoxide was detected.
The company’s American Depositary Receipts lost over 4% in midday trade in New York on the news. It has a market capitalization of over $10bn and employs 88,000 workers.
Mining at the Sibirginskaya mine is currently halted, with the mine’s experts working on the way to liquidate the source of self-heating. The mine’s entire production infrastructure, including transport, ventilation, pumps, power facilities, tunneling faces and active mine-working areas are operational and safe.
