AGP Executive Report
Last update: 8 hours agoGoa Crackdown: India’s ED has provisionally attached assets worth ₹1,023 crore in India and Singapore in a money-laundering probe tied to alleged illegal iron ore mining linked to the Salgaocar/AVS group, including 99 properties in India, 31 in Singapore and equity shares, with the case citing Supreme Court views that mining in Goa after 22.11.2007 was illegal. Gold Sector M&A Buzz: Rumors are swirling about a potential $30 billion “merger of equals” between Barrick’s African portfolio and Endeavour Mining, aiming to create a dominant Africa-focused gold producer with a likely London listing. Iron Ore Power Fight: Manngwe Mining accuses ArcelorMittal South Africa of abusing monopsony power by rationing purchase orders and pressuring it to surrender equity, while AMSA disputes the claims and points to commercial and supply issues. Potash Cost Shield: BHP’s Jansen potash project update targets low unit costs (US$114–130/tonne) and aims to protect against potash price volatility, with first production targeted for mid-2027. Copper Supply Watch: A new copper outlook flags a possible 2026 structural shortage driven by long underinvestment and rising demand from AI data centers and electrification. Local Enforcement: Philippines police and DENR arrested three people for manual gold exploration in Occidental Mindoro after finding no exploration permits. Infrastructure Boost: RVNL won a ₹2,977 crore NMDC contract for a Vizag buffer stockpile and blending yard to improve mineral logistics. Bougainville Pivot: Bougainville revoked BCL’s Panguna exploration licence and granted a new 25-year large-scale mining lease to a state-backed entity, Bougainville Minerals, shifting control of the historic copper-gold deposit. Crypto Mining Crackdown: Thailand seized 315 Bitcoin mining rigs in raids after alleged electricity meter tampering, highlighting infrastructure and power-supply risks. Community Tensions: Residents near South Africa’s Samancor mine protested blasting resumption over consultation, land use and benefit-sharing demands.
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