Coal India to launch coal import tenders; MMG cuts Las Bambas workforce

THE BIG STORY

Coal India Ltd. will issue one short-term and one medium-term tender to import coal for power generation, following India's directive to the state-run miner to procure coal overseas to prevent a shortfall. Coal India will import coal for the first time since 2015 to help address the shortage.

An internal power ministry presentation showed the country is potentially facing a wider coal supply shortfall in the third quarter of the year. The country estimates a domestic coal supply of 154.7 million tonnes in the September quarter, 42.5 Mt below the projected requirement. India previously expected a shortage of 37 Mt for the three-month period.

MMG Ltd. laid off about 3,000 workers at its Las Bambas copper mine in Peru due to a continued shutdown that began in April, caused by community protests. Earlier in the week, fires broke out at the Las Bambas mine and at Southern Copper Corp.'s planned Los Chancas copper project amid community opposition to the mining projects.

In a statement, Las Bambas said Huancuire community members "caused damages to goods and other infrastructure" on the property during a clash with police. Alexander Anglas, a lawyer for the community, said the group did not cause the fire.

A government source said artisanal miners who oppose the Los Chancas project started the fire at that location.

SPOTLIGHT

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RESEARCH

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MARKETS AND FINANCE

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POLICY AND REGULATION

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PROJECTS AND INFRASTRUCTURE

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OPERATIONS AND STRATEGY

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