Tata Steel has not made any purchase of PCI coal from Russia post its April announcement of severing business ties with Russia amid the ongoing conflict with Ukraine, a company spokesperson said. On April 20, Tata Steel had said it would stop doing business with Russia. To ensure business continuity, all its steel manufacturing sites […]
India’s mineral production rose by 7.8 per cent in April 2022 over the same month a year ago. The index of mineral production of mining and quarrying sector for the month stood at 116, which was 7.8 per cent higher as compared to the level in April last year, the mines ministry said in a […]
India’s gold refining industry has seen whopping growth in recent years with capacity increasing by an whopping 500% between 2013 and 2021, the World Gold Council (WGC) said in a report, adding that the informal sector perhaps accounted for as much as an additional 300-500t. According to the report, advantageous custom duty on gold doré […]
India’s Vedanta has invited bids for its Thoothukudi-based copper smelter that was shut by the government of the southern Tamil Nadu state following protests around environmental concerns raised by activists. The last day to submit EoI is July 4, and the bids have been invited in conjunction with Axis Capital. The Sterlite Copper plant, the […]
India’s gems and jewellery exports during May 2022 witnessed a year-on-year growth of 20 per cent to Rs 25,365.35 crore ($ 3.28 billion), amid strong demand from key markets, including the US, the Gem and Jewellery Export Promotion Council (GJEPC) said. The overall gems and jewellery exports stood at Rs 21,156.10 crore ($ 2.89 billion) […]
India’s steel exports will drop 35-40% on-year to 10-12 million tonne this fiscal following the 15% export duty imposed on several finished steel products last month, a CRISIL Research analysis shows. Steel exports, which had reached a record high of ~18.3 million tonne last fiscal, continues to see momentum because of the disruption caused by […]
The first tranche of Sovereign Gold Bond (SGB) for 2022-23 will open for subscription for five days from June 20, the Reserve Bank of India said. The RBI further said that the second tranche (2022-23 Series II) will be available for subscription during August 22-26, 2022. The central bank issues the bonds on behalf of […]
The Bihar government has decided to allow exploration of the “country’s largest” gold reserve in Jamui district. As per a Geological Survey of India (GSI) survey, around 222.88 million tonnes of gold reserve, including 37.6 tonnes of mineral-rich ore, are present in Jamui district. “The state Mines and Geology Department is in consultation with agencies […]
Covid-related restrictions, global supply shortages and higher input costs due to uncertainties triggered by Russia’s invasion of Ukraines further slowed India’s economic growth in the fourth quarter of the 2021-22 fiscal (April-March) with full-year gross domestic product (GDP) growth hitting 8.7% after contracting by 6.6% in the previous financial year, government data showed. The GDP […]
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 162.7 million tonnes (Mt) in April 2022, a 5.1% decrease compared to April 2021, the industry body said in a statement seen on Tuesday. Top 10 steel-producing countries China produced 92.8 Mt in April 2022, down 5.2% on April […]
