Fugitive Nirav Modi spotted in London: New look, £8-million flat and a new diamond business

first_img Munish Chandra Pandey MumbaiMarch 9, 2019UPDATED: March 9, 2019 13:24 IST In the two-minute video of Nirav Modi on Twitter, he can be seen dodging questions. (Photo:The Telegraph)HIGHLIGHTSNirav Modi now involved in a new diamond business In the video clip, Nirav Modi dodges all questionsNirav Modi is one of the prime accused in the Punjab National Bank scamFugitive billionaire diamantaire Nirav Modi, one of the prime accused in the Punjab National Bank scam, has been tracked down to the United Kingdom.The 48-year-old most wanted man now lives in an 8 million pound apartment in London’s West End and is now involved in a new diamond business, UK-based newspaper The Telegraph has reported.As per the report, rent of the three-bedroom flat, occupying half of a floor of the landmark Centre Point tower block, is estimated to cost £17,000/month or Rs 15 lakh.The UK daily has also released a video of Nirav Modi walking freely on the streets of London. Sporting a handle-bar moustache, wearing an Ostrich Hide jacket,estimated to cost 10,000 pounds, Nirav Modi is no longer bald.Exclusive: Telegraph journalists tracked down Nirav Modi, the billionaire diamond tycoon who is a suspect for the biggest banking fraud in India’s historyhttps://t.co/PpsjGeFEsy pic.twitter.com/v3dN5NotzQThe Telegraph (@Telegraph) March 8, 2019As he is confronted by the newspaper over various allegations levelled against him, Nirav Modi says “no comments” and continues to smile.The report says despite his bank accounts being frozen by the Indian authorities and an Interpol red notice being issued for his arrest, Modi is involved in a new diamond business based in London.A source has told the the UK daily that Modi had been given a National Insurance number by the Department for Work and Pensions, meaning he can legally work in Britain, and has used British bank accounts.advertisementThe intel agencies had earlier provided input the Nirav Nodi had changed his appearance to disguise people. Then and now: Handlebar moustache, grey beard, India’s most wanted man Nirav Modi has been spotted in London in a new avatar.The MOST WANTED MANAn extradition request against Nirav Modi is pending since September last year before the UK authorities.The investigative agencies told India Today that they are not happy with the UK authorities over the developments in connection with Nirav Modi’s extradition.”After a Red Corner Notice was issued against Modi, we sent an extradition request to UK authorities with his address. The authorities were expected to provisionally arrest Modi so that judicial process can start but till date no action has been taken,” said a senior officer.The senior officials of the Enforcement Directorate also sent multiple reminders to the UK authorities to arrest Nirav Modi, but no action was taken.Recently, the Enforcement Directorate (ED) attached properties of Nirav Modi worth Rs 147.72 crore in connection with the Rs 13,000 crore Punjab National Bank (PNB) fraud case.The ED had registered a money laundering case against Nirav Modi and others on February 15, 2018.Allegedly, Nirav Modi, Mehul Choksi and others committed the offence of cheating against Punjab National Bank in connivance with certain bank officials by fraudulently getting the LOUs issued without following prescribed procedure and caused a wrongful loss to the bank.Several properties in India and abroad worth Rs 1,725.36 crore were also attached earlier. In addition, gold, diamond, bullions, jewellery and other valuables worth Rs 489.75 crore belonging to Nirav Modi Group were also seized.A prosecution complaint has been filed in this case against Nirav Modi and others for the offense of money laundering.ALSO READ | Boom! And Nirav Modi’s Rs 100-crore bungalow is goneALSO WATCH | Nirav Modi spotted roaming freely on London streetsFor sports news, updates, live scores and cricket fixtures, log on to indiatoday.in/sports. Like us on Facebook or follow us on Twitter for Sports news, scores and updates.Get real-time alerts and all the news on your phone with the all-new India Today app. Download from Post your comment Do You Like This Story? Awesome! Now share the story Too bad. Tell us what you didn’t like in the comments Posted bySumeda Tags :Follow Nirav Modi Fugitive Nirav Modi spotted in London: New look, £8-million flat and a new diamond businessFound freely roaming on London streets, Nirav Modi has changed his looks and cannot be easily recognised. When asked whether he has urged Britain to grant him asylum, Nirav Modi says “no comments”.advertisementlast_img read more

Amplats set for shockbreak and coarse particle recovery technology trials

first_imgAnglo American Platinum, in its June quarter results presentation, has provided further detail on a range of initiatives it is working on as part of its “P101” and FutureSmart™ initiatives.The company has been pursuing these developments to “drive improvement in operational performance from current levels”. The P100 benchmark represents “best in class in the industry”, while P101 represents operating assets and equipment at levels beyond what is currently thought to be possible in the industry.Amplats has previously mentioned several technologies it is working on as part of its FutureSmart development, including “coarse particle flotation, which can reduce energy intensity by over 30%; advanced fragmentation and shock-break technology at concentrators, which has the potential to also reduce energy intensity by 30%; and fine recovery of chrome and PGMs, in conjunction with bulk sorting, which can lead to a 10% increase in feed grade and recoveries”.In the June quarter results presentation, the company said it had made some headway on many of these.In terms of bulk sorting technologies, which majority-owner Anglo American has been using in trials at the El Soldado copper mine, in Chile, Amplats said technology evaluation was progressing at its Mogalakwena PGM mine, in South Africa.With the shock-break technology, Amplats said it had an “evaluation unit” installed at its Baobab concentrator, also in South Africa. Amplats has access to this concentrator through an agreement it signed with Lonmin (now part of Sibanye-Stillwater) a few years ago, with the company, previously saying use of the concentrator would allow it to process excess ore and unlock value at Mogalakwena (dispatch control room pictured).The shock-break technology Amplats refers to uses VeRo Liberator® technology from PMS GmbH. Gregor Borg from PMS told attendees at MEI’s Physical Separation conference in Falmouth, UK, in June, that on an industrial scale, Amplats had already applied two customised VeRo Liberators at its South Africa platinum operations and had ordered a third which is due to be shipped. All three were specially designed to be used in industrial‐scale pilot tests at the miners’ operations, he said.Coming back to P101, Amplats said its Shovel Performance project was in progress at Mogalakwena. This is seeking to increase the rope shovel performance at the mine from 26 Mt/y to over 45 Mt/y.The coarse particle recovery technology – a core part of the company’s plan to ultimately eliminate tailings dams, according to Anglo American Technical Director, Tony O’Neill – is set for trials at Amplats’ operations in 2020, the company said.At the same time as this, there was a fine particle recovery concept study in progress, as well as a prefeasibility study on fine chrome recovery, Amplats said.last_img read more