A large-scale deal that would have helped Tata Steel hive off its European operations now appears to be unlikely, analysts concurred after the Thyssenkrupp-Tata Steel joint venture that was in the works for a year fell apart last week. A report by foreign brokerage firm noted that Tata “will continue to explore all options including […]
A crash in Australian thermal coal prices is raising fresh questions about the viability of a controversial $4 billion coal mine just a week ahead of a national election in which climate change is a key issue. Final approval of the Carmichael coal mine in Queensland, owned by India’s Adani Enterprises, should come in “a […]
Chinese authorities said the country will press ahead with the efforts to cut excess capacity in key areas, including coal and steel sectors, this year, according to the official Xinhua news agency. In 2019, the government will focus on structural capacity cuts and promote the systematic improvement of production capacity, it quoted a circular jointly […]
The World Gold Council (WGC) has developed a set of guidelines for digital gold, which includes norms for both, investors and service providers in this space. The standards, which have been designed to protect investors and promote best practices, highlight the fact that there is a need to provide for investors’ safety when they buy gold on the internet, […]
India Ratings and Research (Ind-Ra) has revised India’s gross domestic product (GDP) growth estimate for fiscal 2019-20 to 7.3 per cent from 7.5 per cent earlier. The predicted lower-than-normal monsoon, the continued agrarian distress and the loss of momentum in the industrial output growth are being cited as the key reasons for the downward revision. […]
Higher price and poor quality led to an unsold iron ore inventory of 2.24 million tonnes in 2018-19 in Karnataka, according to industry body KISMA. The development assumes significance as a group of mining dependents in Karnataka had earlier requested the Supreme Court-appointed panel to allow free iron ore trade and give preference to local […]
The stars are lining up for gold demand in India for the Hindu religious festival of Akshaya Trithiya this week. And it is not just for auspicious reasons alone. After recording the strongest first quarter gold jewellery demand in four years, the strong momentum is set to continue in the second quarter as well, traders […]
The growth of eight core sectors improved marginally to 4.7 per cent in March 2019 against 4.5 per cent in the same month last year. This is the highest growth in five months, with impressive recoveries in the refinery products segment. Cement production, too, improved rapidly last month. Data released by the Ministry of Commerce […]
Global demand for gold grew to 1,053.3 tonnes in Q1, up 7 per cent year-on-year, according to the latest report by the World Gold Council (WGC). A big reason for the stronger demand is central banks, which continued to buy gold for diversification and liquidity purposes. Another is improvement in the India market. Central banks around the […]
India’s Steel Ministry is seeking to simplify and further liberate mining policy, including combining the two-stage auction of mineral blocks into a single stage bidding process. The Steel Ministry feels that single stage bidding for mineral blocks will lower the impact of skyrocketing premiums that result from the multiple stage bid process as followed at […]
