India’s crude steel output dips 3.4% to 9.08 million tonnes in October 2019

India’s crude steel output fell 3.4 per cent to 9.089 million tonnes during October this year, according to World Steel Association (worldsteel). The country had produced 9.408 million tonnes crude steel during the same month a year-ago, the global industry body said in its latest report. Global steel output stood at 151.494 million tonnes in […]

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Afghanistan cancels contract to US gold, copper miner

Afghanistan’s news agency Khaama Press reported that President Mohammad Ashraf Ghani cancelled the contracts held by the Turkish Afghan Mining Company TAMC and the Afghan Gold and Mineral Company AGMC, which allowed them to exploit the Badakhshan gold mine and the Balkhab copper mine in the northern Sar-e-Pul province. Both TAMC and AGMC are joint ventures (JVs) formed by US-based […]

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Russian firms urge Indian steel firms to invest in Russian coal companies to improve efficiencies

Indian companies should purchase stake in Russian coal companies operating in its far east region in order to bring down the coal price and improve their port capacity to handle large ships, said a senior official of Russia-based Far East Investment and Export Agency (FEIEA). Currently, Indian steel and energy companies such as Steel Authority […]

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Hallmarking for gold jewellery mandatory from January 15, 2021

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In a bid to further protect the jewellery buyers from buying inferior quality ornaments, the Narendra Modi-led NDA government has decided to make BIS hallmarking mandatory for gold jewellery from January 15, 2021. According to Union Minister of Consumer Affairs Ram Vilas Paswan, the move would ensure that the consumers don’t get cheated into buying […]

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Drop in sales revenue by 4.7% for non-ferrous metal companies in September quarter

Sales of non-ferrous metal companies contracted by 4.7 per cent in the second quarter (Q2) of this fiscal on account of overall weakness in metal prices, reports Business Standard. Among the non-ferrous metal companies, aluminium firms witnessed 21 per cent contraction in sales. A study by CARE Ratings noted that the average prices of aluminium in Q2 of FY20 […]

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China thermal coal prices under pressure, India to gain ground in 2020: S&P Platts

Chinese thermal coal prices are likely to come under pressure in 2020 from rising domestic output, while India makes further gains in its quest to surpass China as the world’s largest thermal coal importer. India’s increased demand for imports, which is due largely to domestic production and transportation challenges, will likely come at a time […]

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