Latest news with #137
Yahoo
14-05-2025
- Business
- Yahoo
Codelco signs agreement with I-Pulse to explore advanced mining technologies
Codelco, the Chilean state-owned mining company, has signed a letter of intent (LOI) with I-Pulse to explore disruptive pulsed power solutions in mining. This agreement signifies the commencement of a strategic partnership focused on promoting the development and implementation of innovative and sustainable solutions for the mining sector. The partnership is set to explore the use of pulsed power for applications such as rock fragmentation and precision drilling, aiming to address the challenges faced by large-scale mining operations. These challenges include the handling of older deposits, lower ore grades and increasing global demand in the context of the energy transition. Codelco chairman of the Board of Directors Máximo Pacheco said: 'This alliance reflects our commitment to innovation as a driver of more efficient and responsible mining. 'The possibility of incorporating capabilities like those of I-Pulse, which can revolutionise key processes such as rock fragmentation, is fully aligned with our vision for the future of Codelco and our goal of being a pillar of sustainable development in Chile and the world.' In a related development, Codelco announced an exploration agreement with BHP for its Anillo property in the Antofagasta Region. The collaboration is subject to the requirements of Law 19,137, which governs Codelco's partnerships on non-operational or non-expansion mining projects. Furthermore, Codelco has announced a new collaboration with Rio Tinto to potentially develop the mining district around Nuevo Cobre in Chile's Atacama Region. Nuevo Cobre is a joint venture between Rio Tinto and Codelco, with the former holding a 57.74% stake and the latter 42.26%. The agreement between Rio Tinto and Codelco includes the formation of a joint committee and equal funding to conduct preliminary conceptual studies over an initial 12-month period, which can be extended. Last month, Codelco signed an agreement to provide copper concentrates to the Adani Group's $1.2bn (Rs102.47bn) smelter, referred to as Kutch Copper, located in Gujarat, India. "Codelco signs agreement with I-Pulse to explore advanced mining technologies" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Recorder
08-05-2025
- Business
- Business Recorder
ATIR's landmark order: Senior taxmen face FBR law director's action
ISLAMABAD: The Director Law of the Federal Board of Revenue (FBR) Wednesday initiated extreme action against senior tax officials based on a landmark order issued by the Appellate Tribunal Inland Revenue (ATIR) Islamabad. The order highlighted the poor quality of assessments, which not only erodes taxpayer confidence but also negatively impacts the FBR's performance. In this regard, Director Law and written a letter to FBR Chairman on Wednesday recommending action against involved senior FBR officials. According to tax lawyer Waheed Shahzad Butt, the FBR had previously issued a circular stating that having five assessments reversed in appeal would be considered misconduct. However, the FBR failed to implement this crucial directive except one case where a senior officer was sent to DOT IR for passing accounting and tax laws again. The Director Law has now directed that a report be obtained from the concerned Chief Commissioner. If necessary, instructions will be issued to field formations to prevent such instances from recurring. This development aims to address the issue of frivolous poor assessments and improve the overall performance of the FBR: Waheed added. The FBR directive stated that during the hearing of the appeal in the subject titled case the on the contention of the taxpayer that all the discrepancies pertaining to revenue receipts under section 153(1)(a), contractual receipts under section 153( I )(c) and declared salary expenses were duly reconciled through documentary evidence before the assessing officer which were ignored by the assessing officer and an arbitrary tax demand was created. The Tribunal, to substantiate the appellant's claim provided a complete set of supporting documents with the instruction to verify. Despite repeated opportunities the department did not submit the reconciliation report. The learned DR, the same officer unsupported by any material evidence. Accordingly, the Impugned order is hereby annulled in its entirety, and the tits demand of Rs.43,977,137 deleted. A copy of this order shall he forwarded to the Director General (Legal), Federal Board of Revenue, for information and necessary corrective action to ensure that such instances of high-handedness and procedural lapses are not repeated in the future." 'The above state of affairs not only shatter the confidence of the taxpayers but also reflect the performance of the department in negative. It is, therefore. requested that report from the concerned Chief Commissioner may he called and then if warranted necessary instruction to avoid the recurrence of such instances may kindly be issued to the field formations. Copy of the judgment of the Tribunal is enclosed', Director Law added. Copyright Business Recorder, 2025
Yahoo
08-03-2025
- Business
- Yahoo
Strategic Water Supply Act halfway through Legislature
Mar. 7—SANTA FE — A push to incentivize market treatment and reuse of brackish water is now halfway through the Roundhouse. The executive-backed Strategic Water Supply Act, proposed in House Bill 137, passed on a 57-4 through the House on Friday. It would allow the state to enter into contracts with or award grants to projects that treat and reuse brackish water — 652-1,303 trillion gallons of which exist in New Mexico, according to the Environment Department. The bill when first introduced included the treatment and reuse of produced water, or wastewater, from oil and gas operations. But legislators removed that provision and are only focusing on the saline water component to help appease some policymakers and environmentalists. "We have tried to listen to legislators who have had deep concerns," said bill sponsor Rep. Susan Herrera, D-Embudo. Herrera also declined to block a Republican amendment to the bill to ensure people can and have time to protest against brackish water reuse projects. This year's $10.8 billion budget proposal sets aside $40 million for the strategic water supply program, should the legislation pass. It also appropriates $19 million for the New Mexico Institute of Mining and Technology to conduct aquifer mapping and $4 million for New Mexico State University to continue studying water reuse and treatment technology and projects. The appropriation is $35 million less than the bill initially sought. The Strategic Water Supply Act began as a $500 million bill last year, and legislators have since watered it down to accommodate concerns around the feasibility of the program. The state can get started with $40 million, said Rebecca Roose, infrastructure advisor to Gov. Michelle Lujan Grisham. "We would like to see more of an investment in this area," she told the Journal after the bill's passage. "We think the need is there. We think the opportunity and potential is there." Roose added that although produced water isn't a part of the Strategic Water Act anymore, the state is committed to continuing to work this year and beyond "on getting the regulatory provisions in place and continuing to invest for treatment and reuse." The executive's office could come back for legislative market incentives in the future, she said, or the market could take off on its on once the regulations are in place. "We won't know for sure until we get there," Roose said. Lujan Grisham said in a statement Friday afternoon that the legislation is a "forward-thinking approach" to managing water. "By developing New Mexico's brackish water resources, we're charting a new course that balances economic opportunity with responsible stewardship of our freshwater supplies," she said. The four votes against the bill came from Democratic Reps. Marianna Anaya, Dayan Hochman-Vigil and Patricia Roybal Caballero, all of Albuquerque, and Angelica Rubio of Las Cruces.
