Tunnel contract for Cavico at Vietnam coal mine

first_imgCavico Corp, a major infrastructure construction, infrastructure investment and natural resources conglomerate based in Vietnam, has announced that its subsidiary, Cavico Bridge and Tunnel, has signed a construction contract to excavate a transport tunnel for Ha Long Coal, a Vinacomin subsidiary, at its Bac Coc Sau coal mine project in Quang Ninh Province.The cost-adjustable contract is valued at approximately US$2 million. Under its terms, Cavico will excavate a transport tunnel at 328 ft below sea level and a cross tunnel with a total length of 0.55 miles. Cavico will also excavate dirt and rock at different geographic ground elevation levels around the tunnel area. The company expects to complete the contract in 13 months.“We are very pleased to be awarded this contract at the Bac Coc Sau coal mine, our first contract of 2011,” commented Mr. Hai Thanh Tran, vice president of Cavico. “Cavico has a longstanding, close working relationship with Vinacomin through our construction contract at the Nui Beo coal mine, also in Quang Ninh. Vinacomin’s desire to engage us for additional projects reflects our track record of delivering high-quality work in a timely manner and puts us in a strong position to secure additional revenues at this mine and other mines owned by Vinacomin.”last_img read more

 

Strategic optimisation at Sierra Rutile – aiming to increase production

first_imgSnowden is currently working on a project with Sierra Rutile Limited (SRL), which operates the Sierra Rutile heavy mineral sand mining operation in Sierra Leone. The scope of the project is to prepare an optimised strategic life of mine plan for SRL’s world class rutile project near the Imperri Hills, located about six hours drive southeast of the capital, Freetown. The objective of the strategic plan is to consider the best way to tackle the many discrete resources identified at the mine. Mining methods, concentration methods and dry mineral separation methods are all options under consideration. Optimised expansion opportunities will be identified and built into the strategy where possible.The Sierra Rutile mine has had an interesting and colourful history. Mining started in the late 1960s, during the 1980s and 1990s the mine became a world class supplier of high quality rutile to the international TiO2 pigment and industrial applications industries. Production peaked in 1991 at 155,000 t of rutile. During the 1990s and early 2000s, Sierra Leone suffered political and social instability under an unstable government, due to a civil war which waged between 1991 and 2002. The mine did not operate from 1995 to 2005.Since mining resumed during 2006, the mine operated at modest rates and SRL has prepared a number of studies looking at ways to extract maximum value from the 17 deposits with reported resources. More recently in January 2011, SRL reported Measured and Indicated Resources of 441 Mt containing 1.29% recoverable rutile.SRL mines with a large bucket line dredge from the Lanti deposit at 1,000 t/h) to produce 60,000 to 70,000 t of rutile per year. SRL aims to produce 200,000 t of rutile per year.Snowden is joined on this project by Downer stable mates CPG-MT and CPG Australia. CPG-MT has experience in undertaking consulting studies, designing and constructing mineral processing plants and manufacturing processing equipment for mineral sands, coal and iron ore projects. CPG Australia specialises in analysing logistical requirements and designing systems for bulk materials movement.The Snowden project team recently visited the SRL site and has since developed a number of strategic options for evaluation. Alternatives being reviewed include different throughput rates, different extraction sequences, and different approaches for each operational unit which include: mining methods (dredging and dry mining), concentrators (floating and land based), mineral separation plant (expansion, recovery improvement and product suite) and logistics (haulage by road, pumping or conveyor and product handling, storage and shipping).Snowden’s unique strategic optimisation process uses the Mixed Integer Linear Program optimising platform, Evaluator, (developed in house) to identify the optimum combination of unit strategies to allow SRL to extract the maximum value from its project.When the project is completed at the end of September, SRL will have an optimal direction forward which has considered a number of possible alternatives to capacity, sequence and method, knowing that the future work of adding detail to produce the life-of-mine plan will be based on a sound starting point – the optimum strategy delivering the most value.last_img read more

 

Mining tax ratios revisited new MCA monograph by Chris Richardson

first_imgMining tax ratios are now at or above the longer term average as Australia embarks on a new tax reform process. This is one of the key findings by Chris Richardson, one of Australia’s best known economists, in a new publication released by the Minerals Council of Australia (MCA) at the start of its 2015 Tax Conference.In Mining tax ratios revisited, Richardson unpacks a decade of mining tax date data and challenges some misconceptions about Australia’s recent tax experience.He shows that the industry’s tax and royalty burden didn’t fall far during the mining boom and hasn’t been falling over recent years. Indeed, the burden has risen as commodity prices and profits have fallen and states have increased royalty rates. As a result, drawing on official data and the latest MCA tax survey, Richardson calculates a mining tax ratio of 53 per cent in 2012-13 (above the average of 51% since the turn of the century) – see Chart 12 (p. 37). And further falls in commodity prices since then mean this ratio will have risen even higher.Richardson also revisits the official figures that received most coverage in the tax dispute of 2010. He writes that while Deloitte Access Economics can almost exactly match the Treasury figuring in earlier years, the falls in tax ratios estimated for 2007-08 and 2008-09 in particular “seem over the top”. Specifically, the official estimate for mining profits in 2008-09 is hard to replicate. “It looks as is mining profits never came close to hitting the $91 billion that Treasury estimated for 2008-09” (p. 34).Richardson provides a corrective to those who still view the Resource Super Profits Tax (RSPT) – the original mining tax – as some form of tax ‘holy grail’ and a boon to the Commonwealth Budget and the taxpayer. Largely because it refunded state royalties to companies, in good times and in bad, the original super profits tax “would have been super expensive it had been implemented as proposed in May 2010 … the RSPT would have cost Commonwealth revenue billions of dollars” (p. 39).Richardson makes a point of highlighting why royalties should be considered part of the tax contribution from miners. The economic impact is the same. The purpose – to allow the community a return on the use of its raw materials – is the same (pp. 26-27).He also explains why tax ratios that rely on concepts other than “taxable income” to compare industry tax payments (measures such as Gross Operating Surplus that do not allow for depreciation costs) result in wrong-headed conclusions for a capital-intensive sector like mining (p, 8 and section 5).He writes: “So how can some commentators claim miners pay less than their share of national profits? Because they aren’t comparing apples-with-apples. Miners have just invested a trillion dollars in new mines and associated infrastructure. The benefits of that to Australians will last for generations. But that also means measures of profits, which don’t allow for depreciation costs are more skewed than they have ever been. Accordingly, comparing tax paid against measures other than taxable income (and especially against measures that don’t allow for depreciation costs in Australia’s most capital-intensive sector) will mislead – badly.”Looking ahead to the tax reform debate of 2015, Richardson (pp. 8-9) observes: “Just as an army marches on its stomach, good policy is reliant on good data.  … And, in turn, good data – along with good process and appropriate consultation – will help ensure Australia has a meaningful and much needed debate on tax reform in 2015.”Mining tax ratios revisited is available at: http://bit.ly/1BqjcWTlast_img read more

 

Tin PT Timah excels in first half

first_imgThe Indonesian state-owned tin producer, PT Timah, has announced a 57% year-on-year increase in refined tin production to 14,905 t in the first half of 2017, with Q2 refined tin output at its highest level since Q4 2014 at 7,942 t.The increase in refined tin output is correlated with a 77% year-on-year increase in tin-in-concentrate production to 16,078 t over the same period. This largely reflects a nearly five-fold increase in onshore tin mining output to 8,323 t, although offshore tin production also increased 7% to 7,755 t in the first half of the year.The company’s downstream facilities have also performed well, with first-half sales of tin chemicals up 150% to 2,124 t year-on-year and tin solder up 28% to 386 t. Additionally, between the end of 2016 and the end of June, the company’s refined tin stocks have risen 13% to 3,892 t, while tin contained in ore and slags has risen 9% to 11,649 t.ITRI View: “Indonesian exports of refined tin based on trade ministry data totalled 35,390 t in H1, up 19% year-on-year. While the higher tin price in 2017 has no doubt been a key driver behind Timah’s improved performance, disruption from flooding and export delays in H1 2016 have also been an important factor behind the 2017 revival. The company has also been more competitive in its purchase of ore, which has weighed on Indonesian private smelter production. Timah believes that refined tin output of 32,000-35,000 t will be easily achieved this year, up from its 2016 total of 23,756 t. We estimate total Indonesian refined tin production will rise to 75,000 t in 2017 due to the increased output by Timah, with production from other Indonesian sources expected to remain broadly stable.”last_img read more

 

Kentin Mahe to HSV Handball

The youngest member of the French “Experts”, one of the most talented playmaker in Europe, Kentin Mahe (21) is close from signing contract with German TOP team, HSV Handball. French NT future, Mahe is playing in VfL Gummersbach, where he moved from Bayer Dormagen, where his Bundesliga’s career started in 2010. German Bild.de writes that HSV is ready to “pick up” him from 2014, where his contract will come to the end. HSV HandballKentin Mahe ← Previous Story Damir Doborac leaves SC Magdeburg Next Story → Bunch of countries want to organise Women’s EHF EURO 2012!

 

Pablo Simonet five months out

French Ivryhandballhandball injuryivry handballPablo Simonet THe youngest of brother Simonet, Pablo (21) will miss the most of the season after serious harmstring injury, which will keep him five months out from the court. French Ivry HAndball playmaker got injured during match of the domestic Championship against Paris Saint Germain. His injury will cause a lot of problem to his team, but also Argentinian team in the next period… ← Previous Story EHF CL ROUND 4 OPEN: Aalborg celebrate in Slovenia! Next Story → (VIDEO) DEFINITION OF HANDBALL “FAIR-PLAY” BY YOUNG SLOVENIAN PLAYER

 

Austrian roster for Spanish challenge

Bozovic PV Bauer Hermann Bregenz Handball 0 LW Sebastian CB Fabian Alexander 32 7 29 LB 41 Romas Janko 24 LW Christoph SC Magdeburg / GER 124 Patrekur Johanesson choose the roster for upcoming matches in EHF EURO 2018 qualification in which Austria will meet Spain.Austrians have two points from two opening matches. After loss against Finland, they beat Bosnia and Herzegovina.Roster: Posch PV Esegovic Dominik RB 26 125 Nikola Bregenz Handball Marinovic TEXT: DJORDJE PEVCEVIC 24 Ante 4 Sporting Lissabon / POR 20 0 SG INSIGNIS Handball WESTWIEN 147 92 20 20 15 Julian Bammer 118 Weber  6 9 68 19 18 RW 53 277 Robert 163 GK 632 Bergischer HC / GER 88 Gerald 9 Bregenz Handball RW RB PV SG INSIGNIS Handball WESTWIEN Zeiner 2 ALPLA HC Hard Raul 39 4 Kirveliavicius Aleksic 280 Ranftl THW Kiel / GER Wilhelm GK ← Previous Story Miljan Pusica to GWD Minden Next Story → VIDEO: No winner in Slovenian derby Pays aix Universite Club Handball / FRA Frimmel 0 Moser Medical UHK Krems 121 10 Jelinek SG INSIGNIS Handball WESTWIEN Nikola 7 37 28 CB Bilyk Goran 19 THW Kiel / GER LB LB Kadetten Schaffhausen / SUI 94 4 Santos 38 20 ASV Hamm-Westfalen / GER 12 95 63 1 HSC Coburg 2000 / GER Neuhold 91 33 Thomas GK read more

 

Your Tips How to save money this January

first_imgAm making my own sourdough bread using a homemade grape starter for yeast. Therapeutic watching it form its bubbles and doing all that kneading!OU812: Do a food audit every two months of your larder presses & freezer(s). Make a list then go to the like of http://myfridgefood.com.Enter what you want to use & it’ll give you recipesPodge:Cut out fizzy drinks for the kids. Not only will you reduce the shopping bill but you will save a fortune at the dentist later. The taxpayer will also save a fortune in funding on diabetes clinics and healthcare costs further down the line. It bewilders me as to why parents let their loved ones drink cola and the like when it is so toxic to their health.Paddy Downey: Cutting back from two takeaway coffees per day to just one, saving over €400 per year (which is a bit frightening to realise). No, I won’t be giving up the other one just yet!Fiona Hurley: Buy higher quality clothing and shoes but fewer of them. For example, I bought two pairs of branded boots four years ago and I wear them for at least 8 months of each year and they’re still like brand new. I bought them online at a discount so I have two pairs of quality boots that cost me less than €150 all in. And I don’t have to keep buying boots every six months. Invest in a quality overcoat. Good underwear. Buy T-shirts and stuff like that in Penneys. That way you get the most out of the important pieces of clothing while still saving on more “disposable” clothing.Buy unbranded cleaning products in Lidl. They’re just as good as branded goods but cost way less. AS WE HIT the halfway point of January, many of our bank balances have been completely depleted and lunch meals are made up of leftover Christmas biscuits and tins of tuna.We’ve promised ourselves to be more savvy from now on so this doesn’t happen before the next cheque comes through the post. Drink less, quit smoking and dust off the bicycle are all on the ‘to-do immediately’ lists.To get real, we asked TheJournal.ie readers for their most useful money saving tips and they really came up with the goods. Here’s a few that we collected on Saturday and can’t wait to try:ShoppingJames Kiernan: Commit to using for two weeks (or as long as it takes) any food in your freezer or store cupboard items. You’ll be amazed at what you may have bought, still in a sell by date that can make meals. When that’s done never ever shop on an empty stomach plan the food for the week and make lists when shopping. Stick to it.Zoe Georgina: If you have a freezer, use it to buy food in bulk and cook in batches. Good meals for freezing include soups, lasagnas, and quiches. Avoid watery veg like tomatoes or aubergines. Buy a whole chicken instead of individual pieces. Cut down on meat, either by eating a few veggie meals a week or by bulking up the veg content of your meals. Heating and Electricity John Carroll: Install a solid fuel stove if you can. We installed one last September and now rarely use oil central heating. I reckon well save about €1,000 this winter.Florence Nightingale:Work out how much electric you use each week on average and pay it at the post office each week. (A little inconvenient I know but just take a paper bill in with you and add the money on). That way, when you get the bill, you’ll have little or nothing to pay. If you do this, you’ll have less money to squander on unnecessary things such as take-out coffee or expensive sandwiches.We pay the same whether winter or summer so we always end up with credit during the very cold winter months, which means we can switch an extra electric heater on without fear of a horrible bill coming our way. And with no lump sum of money to find every two months, it’s one less thing to stress about. Beware of false savings- as in buying cheap shoes, cheap clothes etc. Not saying you need designer gear but “upgrading” shops for your basics can actually save you. I stopped buying jumpers in Penneys and went to Next. I spend double on a jumper but it lasts four times longer.Fiona Hurley: For the girls: You don’t need fancy pink razors or fluffy makeup removal pads. Buy razors in the men’s aisle and big rolls of cotton wool in the baby section. Also, check out “mooncup” or “diva cup” for time-of-the-month.Florence Nightingale: If you like the cinema, go to early bird showings. I saw a showing of Gravity last year that cost me less than a fiver.AdministrationJohn Carroll: Complete tax return and claim everything you can.  We average €500 per annum tax rebate.James Kiernan:Do your MED 1 to the revenue on medical expenses. Even if you’re lucky enough to have private healthcare you can still do med 1 on the balance not refunded. The revenue will also then do a P21 balancing statement which could refund you more in overpaid taxes. Keep photocopies of any receipts. You don’t even need to send them in. One phone call will do.Wishie Jatt: If you are renting make sure you are claiming your rent relief back from Revenue every year if eligible. Always amazed at how many people I know don’t do it!Coin CollectingOU812:Do the 52 week savings challenge.Put the equivalent amount of euro to correspond to the week number away.E.G.Week 1 = €1Week 2 = €2The whole way along toWeek 51 = €51Week 52 = €52It adds up to almost €1,500 & gets you into a savings habit. Reuse and find a new use for as much as possible: glass jars are great for lots of things, old wine bottles make lovely water containers instead of plastic jugs in the fridge, put up your white Christmas lights somewhere instead of packing them away. Little touches that don’t cost much but make you less likely to get bored and want to completely redecorate.Ness Dakota: Buy your birthday or any cards in euro shops. I bought six cards for my nieces and nephews at 59c each. You’d pay over €3 each in general shops!Zoe Georgina: Cancel subscription TV and switch to free view.Will Hourihan (in response): Did this last year! We now receive all the British channels and all the Irish channels in HD without having to pay SKY for the privilege of having a crystal clear picture. We also have the facility to rewind and pause live TV. There are a lot of crap channels but let’s face it SKY had a lot of crap also.Honest Tom: Noreen Thompson: Grocery shop in the evening where possible to get some great discounts on foods close to use by date for immediate consumption or freeze them. I used to steer clear of ‘that’ shelf in better times but now it’s the 1st place I check when shopping, how times have changed! Have got some great deals from it though & feel foolish for being snobby about it before. Go on, give it go!DietMary Martin: Stephanie Crawford (in response): OU812, I’mdgoing this, but backwards. I put in €52 this week, will put in €51 next week etc. I find it’s too hard to find that €51, €52 in December!Cutting backJane Dickson: Ness Dakota: If your a massive tea/coffee drinker.. Boil a full kettle and put hot water into a flask.. Saves u reboiling the kettle several times in the evening… Kettle is pretty expensive to use!Holidays and EntertainmentJohn Carroll:Book summer holiday flights now and book accommodation afterwards. You’ll save another €1,000 for a family of five.Zoe Georgina: If you’re in Dublin get yourself a Cineworld subscription. €20 a month (direct debit) and you can go see as many movies as you want. Perfect for going and “doing something” but not spending tons of money.Florence Nightingale: Drive to the pub when going out. Then instead of drinking coke or club orange drink cordials. Drive home. Do that say 6 times a month, even 4 times a month and easily save €300.Other bits and bobsEmily Elephant: Get a bike. You’d be amazed how much you save in petrol or bus fares alone. If you do it enough, you can cancel the gym membership too. Of course the serious savings start if you can sell the car.Florence Nightingale: Wash your clothing inside out. It really does prolong the life of the garment.Open thread: What are your best money-saving tips?last_img read more

 

11 Irish delicacies we cannot live without

first_imgFlickr/BodsSeen here in its traditional habitat.*Also: hang.9. Garlic Cheese Chips Flickr/stevendamronHumble, yet magnificent. Five stars.3. Breakfast CerealFlickr/tmray02Seems normal, right? But here’s the thing: WE EAT IT AT NIGHT-TIME. How do you like that, Mr Kellogg? Huh?4. Breakfast roll Pic SupermacsAgain with the absence of plates. What we’re seeing here is: Ireland doesn’t like plates.8. Ham* sandwich 1. The JambonFacebook/The Jambon Appreciation GroupKing of the hot deli counter, sitting in state among the wrinkly potato wedges. And the way it might look at you.2. The Chicken Fillet Roll Flickr/paul-fordPart of our time-honoured custom of taking other nations’ culinary specialities, rendering them bland, and putting them on chips. (See also: curry chips.)Essential.6. Jam sandwichFlickr/kyzCrusts on or off? In ancient times, clans fought and died over this question.7. Snack Boxcenter_img Flickr/seamus_walshA flavour explosion.We hear rumours of something called a ‘Supernova’, which involves garlic, cheese AND curry on chips. But that may be just a glorious fantasy.10. Ice cream and wafersFlickr/jonathansinAs carefully constructed by your mammy.11. Crisp sandwich Flickr/LWYDid you know that in some countries they eat their breakfast off plates? No, us neither.5. Taco Fries Facebook/Crisp sandwichesFamously invented by St Patrick himself, when he was up the Hill of Tara with just a batch loaf and a packet of Tayto.*crunch*Open thread: What Irish food or drink do you most miss when abroad?>13 reasons why the potato should DEFINITELY be Ireland’s National Vegetable>last_img read more

 

Gardaí appeal for witnesses to late night singlevehicle crash

first_imgGARDAÍ HAVE APPEALED for witnesses to a serious single vehicle collision in Donegal.A car collided with traffic signs and a telephone pole on the Derry Road at Drumnahoagh, Letterkenny at 12.50am yesterday morning.The driver, who was the only occupant of the vehicle, was seriously injured in the collision.The car was a silver BMW 3 Series with an 02-DL registration.Gardaí are appealing for anyone who may have travelled on the road or observed the car prior to the collision to contact them at Letterkenny Garda Station on 074 9167100, the Garda Confidential Line on 1800 666 111 or at any Garda Station.last_img