Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Australian diversified miner South32 Ltd on Monday posted a near 15% drop in its second-quarter metallurgical coal output, hurt by an extension of a longwall form of mining at its flagship Illawarra project in New South Wales.
Production of metallurgical coal, used to make steel, fell to 1.2 million tonnes (Mt) in the three months to Dec. 31 from 1.4 Mt a year earlier.
The diversified miner also warned of potential impact in the second half from workforce restrictions due to the coronavirus pandemic in New South Wales.
(By Sameer Manekar and Riya Sharma; Editing by Chris Reese)
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