Latest news with #DMG
Time of India
2 days ago
- Business
- Time of India
Govt cancels 1st auction of ore dumps, to alter procedure
Panaji: State govt cancelled the first auction of low-grade iron ore dumps as it decided to change the procedure for auctioning the same. Chief secretary V Candavelou, who is also mines secretary, told TOI that state govt would bring minor changes in the dump policy to change the procedure of auction. After completing the first day of e-auctioning low-grade iron ore dumps, the directorate of mines and geology (DMG) cancelled the remaining three phases of auctions of dumps that were scheduled for Jan 31 and Feb 3 and 4 due to a 'technical issue'. The auctions were subsequently cancelled. The Supreme Court allowed Goa govt to carry out dump mining activity in the state in accordance with an expert committee's report. Accordingly, the policy for regulating iron ore dump handling was notified on Sep 14, 2023. The dump handling policy, 2023, paved the way to deal with the 700 million tonnes of low-grade iron ore lying inside and outside mining leases across Goa, and to export 25 million tonnes per annum. The DMG conducted the first auction for four dumps, and bids were accepted only for three dumps. Due to a technical reason, the auction of one dump did not start. State govt put 18 low-grade iron ore dumps up for auction. Goa Foundation said that the DMG should cancel the auctions and re-conduct them after first granting a proper mining lease and obtaining all necessary approvals, as required by the expert committee on dumps and the various provisions of the Mines and Minerals (Development and Regulation) Act. State govt received 125 bids for the 18 dumps that were put up for auction. A total of 173 mining companies and traders showed interest in purchasing them. Govt fixed a reserve price of 22% for the first e-auction of low-grade iron ore dumps in the state. If the Indian Bureau of Mines' price is Rs 100 per tonne for low-grade iron ore and the mining companies purchase the ore at auction at the 22% reserve price, the companies must pay Rs 22 per tonne to govt. Govt also fixed the criteria for traders and mining companies to participate in the e-auction — the bidders should have a minimum net worth of Rs 25 crore. Govt put up the 18 low-grade iron ore dumps with a total quantity of around 30 million tonnes for auction. Up to 25 million tonnes of ore from dump handling can be exported. Of the 18 dumps, 15 are in South Goa. A senior official said that the dump handling policy was challenged in court. Recently, state cabinet amended the dump mining policy to allow erstwhile leaseholders to handle the low-grade iron ore dumped by them in another mining lease that was never operated.
Time of India
3 days ago
- Business
- Time of India
Relief for quarry, mineral leaseholders: Apply online for term extn by Sept 30
Jaipur: Chief minister Bhajan Lal Sharma Saturday granted administrative approval to extend the deadline for submitting applications for the extension of mining leases for quarry license holders and minor mineral leaseholders until Sept 30. Amendments will be made to Rule 9 (3A) and Rule 10 (3A) of the Rajasthan Minor Mineral Concession Rules-2017 for this purpose, according to an official statement. "This decision will not only increase the state's revenue but also effectively curb illegal mining. Additionally, it will provide relief to approximately 2,500 quarry license holders by addressing practical issues arising in the delineation process of expired quarry licenses," it stated. Various public representatives brought to the CM's attention that many quarry license holders were unable to apply for the extension online by the previously set deadline of 31 March due to the non-updating of quarry license data on the DMG online system of the Department of Mines and Geology.
Time of India
3 days ago
- Business
- Time of India
Mining unlikely to resume at 154 leases in Goa's eco-sensitive areas
Panaji: A survey conducted by the directorate of mines and geology (DMG) has revealed that 154 mining leases, most of them in South Goa, are in eco-sensitive areas where mining cannot resume. The survey was conducted by state govt ahead of fresh auctions of the state's mining leases. Govt has already conducted four such auctions of mineral blocks. A senior DMG official confirmed that 154 leases fall in eco-sensitive areas. When mining in Goa came to a halt in 2018 following the Supreme Court's decision to quash the second renewal of 88 leases, there were 254 valid leases. Most of these were spread over the talukas of Pernem, Sattari, Ponda, Sanguem, Bardez, Bicholim, Tiswadi, and Quepem. During the Portuguese era, Goa had 806 mining concessions, and in 1987, after the concessions were abolished and converted into leases, that number reduced to 595. In 1987-88 and 2000, 438 leaseholders applied for the first renewal. Subsequently, 413 leaseholders applied in 2006 for the second renewal. Of the 595 valid mining leases in Goa, state govt cancelled 252 of leaseholders who did not apply during the first or second renewal of mining leases. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Undo In Oct 2013, 119 mining leases were cancelled, and 133 more were cancelled in Nov 2013. Before Sep 2012, 110 mining leases were in operation, and around 45 million tonnes of iron ore was exported from Goa. Since 2022, only three of the 12 mineral blocks auctioned by state govt have been able to start operations. Goa's mining industry kickstarted operations on April 4, 2024, after a six-year shutdown, with Vedanta Sesa Goa beginning fresh extraction of ore at Bicholim.
Associated Press
03-07-2025
- Business
- Associated Press
DMG Blockchain Solutions Announces Preliminary June Operational Results
VANCOUVER, British Columbia, July 02, 2025 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) ('DMG' or the 'Company'), a vertically integrated blockchain and data center technology company, today announces its preliminary operational results for June 2025: During June 2025, DMG's realized hashrate was 1.56 EH/s, down 18% from the 1.89 EH/s reported in May, as the Company experienced an unscheduled electrical outage of nearly two days at its Christina Lake facility and faced continued challenges operating its hydro infrastructure. In particular, a regional lightning storm resulted in the tripping of a main substation breaker that required extensive servicing. In addition, DMG's hydro infrastructure has been experiencing downtime related to contamination due to manufacturer quality control issues. This problem has been actively addressed over the past several weeks. The Company believes that with additional servicing and close monitoring, it can bring the hashrate of its current hydro mining capacity closer to its 0.4 EH/s potential, even as the summer heat sets in. The hydro miners are designed to operate in ambient temperatures exceeding 40 degrees Celsius, albeit at lower efficiencies. Based on experience gained from its initial 6-megawatt hydro mining container build-out, DMG now plans to source new hydro infrastructure from alternative manufacturers; for its planned Christina Lake building hydro deployment, the Company will utilize its existing electrical distribution and shelving, while sourcing key hydro infrastructure components from best-of-breed vendors. This should simplify the transition from air-cooled to direct liquid-cooled mining, while giving DMG improved quality control over its supply chain and infrastructure component integration. DMG intends to build a pilot system in its Christina Lake building this summer ahead of its planned expansion to grow to 3 EH/s by the end of calendar 2025. DMG's bitcoin balance was 341 BTC at the end of June. The Company sold bitcoin during the month to fund operating expenses and further reduce its loan balance with Sygnum Bank, in line with prior guidance. Agreement for a New Bitcoin Mining Site in Canada outside of British Columbia DMG announces it has executed a binding agreement following its May 2023 announcement to develop a new data processing center with access to low-cost renewable energy located in a Canadian province outside of British Columbia. The agreement supports DMG's longer-term strategy to identify pockets of low-cost energy, based on which it intends to eventually operate the majority of its Bitcoin mining fleet. Once fully operational, DMG expects to initially add approximately 1 EH/s of Bitcoin mining capacity, depending on the selected equipment and the commissioning timeframe, currently projected for the second half of calendar 2026. DMG's CEO, Sheldon Bennett, commented, 'In June, we encountered several unforeseen issues with our Bitcoin mining infrastructure, but we also advanced our longer-term objective to migrate our Bitcoin mining to where energy is less expensive. We continue to make progress in our discussions with Canadian governmental agencies, with a focus on the Department of National Defence, as Canada has pledged to increase its military spending, with AI as a key pillar of that growth. Regarding Systemic Trust, we remain encouraged regarding custody clients onboarding to the platform as well as expanding the platform capability beyond custody.' Grant of Stock Options and RSUs DMG announces the granting of stock options and RSUs to employees and directors of the Company. A total of 201,607 stock options ('Options') and 1,275,000 restricted stock units ('RSUs') have been granted. The Options are exercisable over five years at a price of $0.285 per share, with vesting in 25% increments on the six-, 12-, 18-, and 24-month anniversaries of the grant date. The RSUs vest in one year; these grants are designed to create an incentive structure that aligns longer-term performance with the Company's growth. About DMG Blockchain Solutions Inc. DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG's carbon-neutral Bitcoin ecosystem, which enables financial institutions to move Bitcoin in a sustainable and regulatory-compliant manner. For additional information about DMG Blockchain Solutions and its initiatives, please visit Follow @dmgblockchain on X, LinkedIn and Facebook, and subscribe to the DMG YouTube channel to stay updated with the latest developments and insights. For further information, please contact: On behalf of the Board of Directors, Sheldon Bennett, CEO & Director Tel: +1 (778) 300-5406 Email: [email protected] Web: For Investor Relations: [email protected] For Media Inquiries: Chantelle Borrelli Head of Communications [email protected] Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG's strategies and plans, executing on DMG's broader strategy to shift its data center capacity towards AI, increasing hashrate, the planned expansion to grow to 3 EH/s by the end of calendar 2025, sourcing hydro infrastructure from alternative manufacturers, securing new clients for the Systemic Trust digital asset custody subsidiary, the opportunity and plans to monetize bitcoin transactions and provide additional products and services to customers and users, the continued investment in Bitcoin network software infrastructure and applications, the expected allocation of capital, developing and executing on the Company's products and services, increasing self-mining, increasing hashrate, efforts to improve the operation of its mining fleet, the launch of products and services, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG's production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate mining difficulty. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; the demand and pricing of AI data centers and usage; security threats, including a loss/theft of DMG's bitcoin; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG's facilities; DMG's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company's filings on In addition, DMG's past financial performance may not be a reliable indicator of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment and/or infrastructure failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company's ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG's products, services and blockchain and AI technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.
Morocco World
20-06-2025
- Climate
- Morocco World
Weather Office Says 2024 Was Hottest Year on Record in Morocco
Rabat – The General Directorate of Meteorology (DMG) has identified 2024 as the hottest year ever recorded in Morocco. The weather office presented its findings on Morocco's climate during an event on Friday, chaired by Minister of Equipment and Water Nizar Barakra. Moroccan news outlet Le360 quoted officials citing the assessment's data, with Baraka saying that Morocco has 'already surpassed a 2 degrees Celsius increase in 2024.' He said that the country crossed the critical threshold outlined in the Paris Agreement, which warns of irreversible effects beyond a global warming range of 1.5 and 2 degrees. The minister also acknowledged that 2024 was among the driest years since 1960, with rainfall dropping by over 45% compared to the annual average. The drought, which has affected Morocco for over six consecutive seasons, has affected the country's water resources, with snowfall shrinking to just 9,900 square kilometers. The number is far below the usual 50,000 square kilometers. These extreme weather events triggered flash floods in the southeast of the country, causing 'major flooding and human losses,' the general director of National Meteorology, Mohamed Dkhissi, said, pointing out that the lack of snowfall and weak precipitation have worsened hydrological conditions. He did not, however, rule out the possibility of a wetter year in 2026, reaffirming the Office's commitment to support the most vulnerable sectors. Drought in Morocco prompted the introduction of a series of measures, including the cancellation of Eid Al Adha sacrifice ritual this year due to the notable decrease in the country's livestock population. Earlier this month, the Moroccan government pledged a new support plan for livestock producers to improve their working conditions and to rebuild the national herd. The new approach includes easing the debt load of small and medium-scale breeders, with the government allocating $70 million to restructure loans for nearly 50,000 farmers. The program also includes subsidies to reduce the cost of feed, with authorities setting the price of barley at MAD 1.5 per kilogram, capped at seven million quintals. Morocco also banned the slaughtering of female goat to contribute to the rebuilding of the national herd. Tags: 2016 hottest year on record2017 one of hottest years
