NMDC and GJEPC to auction rough diamonds in Surat after 21 years


In a first since 1998, rough diamonds mined in India will now be up for display in Surat for auction by state-run National Mineral Development Corporation (NDMC) in association with Gems & Jewellery Export Promotion Council (GJEPC), reports Business Standard. So far, rough diamonds mined from the Panna mines in Madhya Pradesh were auctioned online but displayed only at Panna. However, […]

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Zinc price to hover around $2,500 a tonne: Fitch

Continued deterioration of investor sentiment on the back of ongoing US-China trade war which is weighing on the economy, Fitch Solutions Macro Research today lowered its average global zinc price estimates to $2,500 per tonne for 2019 from $2,600 per tonne earlier. This is despite tightening fundamentals, as global zinc slab production has declined by 1.1 per cent y-o-y in Jan-Jun, […]

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Indian economic growth ‘much weaker’ than expected: IMF; Industrial production growth slows to 4.3% in July 2019

India’s economic growth is “much weaker” than expected, the IMF said, attributing the reasons to corporate and environmental regulatory uncertainty and lingering weaknesses in some non-bank financial companies. The International Monetary Fund (IMF) projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, […]

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US-China trade war gives India hopes to tap $1-billion of jewellery export opportunity to US


India’s gems and jewellery sector hopes to tap a $1-billion export opportunity arising out of the ongoing trade war between the United States (US) and China, reports Business Standard. The opportunity came India’s way after the US levied a 10 per cent import duty on import of gems and jewellery from China, taking the tariff to 20.5 per cent. […]

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Market regulator, SEBI adds diamond, base metals and alloys to liquid assets list in commodities derivatives

Capital markets regulator Securities and Exchange Board of India (SEBI) added diamond, base metals and alloys to the list of eligible liquid assets for the commodity derivatives segment. Currently, the list of commodities permitted as liquid assets consists of bullion, steel and agricultural commodities. “Considering the introduction of compulsory delivery-based diamond and base metal derivatives […]

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India’s new FDI policy may not be enough for private coal mining to take off, say experts

Investment in coal has been declining as both global mining corporations and international banks try to address the climate crisis. Rio Tinto has exited the thermal coal business—that is, coal used in power plants. Both Anglo American and BHP are said to have begun the process of divesting their thermal coal assets. Earlier this year, […]

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