Blackhawk Mines : Mining Scam Prevention

Mining is the process of extracting ore or minerals from the ground.  People started to practice mining many years ago.  At first it was thought to be very helpful to mankind but as the years go by and as we discover many things to mine, the disadvantages of mining also evolved.

 

The definite advantage of mining is that it brings large amount of profits for the companies doing the mining and jobs for the people.  It supplies raw materials that provide convenience to daily living.  But more disadvantages come along with mining.  The downsides of mining are:  deforestation and pollution after these two is a chain reaction that will only cause troubles to human.  Pollution is just one thing; the damage to both underground and surface environments is as shuttering.  Another thing is the depletion of resources rather than the reuse of existing materials, or use of materials readily available on the surface, these said minerals will take hundred of years in order to generate again.  Plus the dangers that it will cause to men, cave-ins, explosions, gas, radiation sickness, black-lung disease, asbestosis, and silicosis.

 

India is a very rich country in terms of natural resources.  Mining industry is a major economic activity which contributes significantly to the economy of India.  Mining started here ages ago so it is not surprising that deforestation and pollution are very common in the country.  Due to the growing number of tribulations mining caused, the country struggles for solutions.

 

India is the largest producer of sheet mica, the third largest producer of iron ore and the fifth largest producer of bauxite in the world.  India’s metal and mining industry was estimated to be $106.4bn (£68.5bn) in 2010.

 

However, the mining in India is also infamous for human right violations and environmental pollution. The industry has been hit by several high profile mining scandals in recent times.

 

India suffered so much, what sad is that the people who makes the sufferings are her people as well.  What the government should understand is that they must be focus on issues at a    time; they must give proper distribution of tasks his people so that they may be able to perform their jobs suitably.  Those mentioned earlier were just part of the story; another issue in mining is the scams and frauds.  Scam prevention can only happen if one knows how scam works.  Although mining fraud is rare today, but, as in any type of business, there would still be people who will try to steal money from other people.  Here is how you can prevent yourself from being scammed.

  • If there is any pressure buy right away, forget it.
  • The company has a secret or proprietary process to extract gold, silver, or platinum from rock that conventional tests cannot detect.
  • Instead of selling shares of stock, the company is offering to sell the ore itself, and extract the metal from your ore for a fee. This is known as a “dirt-pile scam.” By not selling shares, the promoters are avoiding regulatory oversight, making it much easier to take your money.

 

 

Blackhawk Mines: Copper demand expected to rise

Two of the biggest mining firms in the world, Rio Tinto PLC and BHP Billiton Ltd are teaming up to invest over USD 4 billion to boost their copper output, according to their announcement on Tuesday.

Rio and BHP have staked their investment on a high copper demand worldwide as they approve plans for USD 4.5 billion expansion of their Escondida mine in Chile. BHP is even reopening their copper mine that has been out of commission since 2009 due to the global fiscal crisis.

The mining site that will produce molybdenum concentrate and copper is expected to have a yearly production of around 60,000 tonnes. Moreover, BHP expects that this resumption of operations will provide for 650 new jobs.

Majority of the money is set to be invested in the Escondida operation located in the southeastern part of Antofagasta, Chile. In addition to this, BHP is also planning to resume its operations at the Pinto Valley in Arizona before the year ends.

The recovery in ore grades combined with current work at Escondida should aid them in their target production of over 1.3 million metric tonnes by 2015. This is exclusive of the 60,000 tonnes of copper concentrate that the Pinto Valley is capable of producing yearly, according to BHP.

Last year, operations at Escondida was distracted by labor strikes and lower grade ores but Rio and BHP announced that output is anticipated to increase from 2013 due to the higher grade ore in the main pit.

Escondida is a joint venture between Rio and BHP with a total stake of over 87%. Almost 8% of the total world production comes from it.

Production of copper has been steadily decreasing worldwide for the past few years, triggering an aggressive pursuance for a big copper prospect like the Oyu Tolgoi in Mongolia and the Olympic Dam in South Australia.

 

BHP is planning to release USD 2.6 billion on 2 projects to increase their mining output while Rio (with their USD 1.4 billion stake) and Japanese consortium JECO’s respective stakes are going to take care of the rest.

Companies in the mining industry are aggressively investing in minerals and key metals as they maintain an optimistic view that demand from China and other developing countries will continue to grow. In order to improve their overall output by 80%, the biggest copper mine is showing optimism regarding the long-term demand for metals.

Last year, the mine’s produce amounted to more than 700,000 tonnes of copper.