Algae and mining: A new frontier in sustainable site rehabilitation

Algae might seem an unlikely candidate to help transform Australia’s post-mining landscapes, but a new CSIRO -led project suggests these tiny aquatic organisms could provide sustainable futures for mine sites, surrounding ecosystems, and local communities. Looking down the microscope at the microalgae Nannochloropsis Australia’s mining sector is approaching a crossroads—where economic legacy and environmental responsibility must find common ground. A new CSIRO -led study, supported by the Cooperative Research Centre for Transformations in Mining Economies (CRC TiME), suggests that one of the most promising bridges between these imperatives may come from an unexpected source: algae. Though small in stature, algae are emerging as giants in their potential to transform post-mining landscapes. The study, developed in partnership with the University of Queensland and Murdoch University , proposes that algae-based technologies could reduce mining’s environmental footprint while seeding new...

India to sell up to 10% of Coal India Ltd

India's national government intends to divest a minority stake in state-owned Coal India Ltd for around $8-10 billion. "The divestment of government equity up to 10% will take place later this year -- that is during fiscal 2010-11 in the capital market through the book-building process," Coal India chairman Partha S. Bhattacharyya told The Economic Times.

"A Shanghai-based listed Chinese coal mining firm, with which we are on par, has a market capitalisation of $100 billion. With a cash-flow of $1.24 billion and a strong bottomline, we should also command a higher market cap," he said.

It will be the first time the government will offload stake in the Kolkata-based firm that accounts for 85% of the country's total coal production of 493 Mt/y.

The enterprise will also issue shares to its 425,000 employees on pro-rata basis. With one of the largest number of employees in India's organised sector, eligibility for share allotment will be worked out proportionately.