The Federation of All India Tea Traders Association (FAITTA), the apex body of tea trade in the country, has urged the Tea Board of India to undertake a thorough evaluation of the e-auction system before rolling it across India. The tea trade, which migrated from a manual auction system to e-auction format in 2016 as […]
India’s ministry of mines has proposed to terminate the iron ore leases of those working mines that have not started production even after 7-8 months of auction. Those mines which have not maintained minimum dispatch for three consecutive quarters are also sought to be terminated from the lease. The mines ministry proposed to do so […]
Reliance Industries and its partner BP will get only $4.06 a unit for the new gas they have started to produce from the eastern offshore KG-D6 field even though they have discovered a higher rate in an open market auction. Reliance-BP in November 2019 auctioned initial gas from the R-Series field at a biddable percentage of […]
India’s metals and minerals industry on Friday urged for an easing of production of iron-ore in the country to stem soaring prices of the steel-making material as well as of steel. Prices of iron-ore lumps supplied by state-run NMDC, the country’s largest miner, have increased by 112% in the last six months alone due to a […]
Gurugram-headquartered agri-tech startup Origo Commodities, primarily known for post-harvest agriculture supply chain management specialization, is getting ready to add major digital components to its operations before the end of the current fiscal. Speaking with indoasiancommodities, Sunoor Kaul, Co-Founder & Director of the firm said the company is all set to unveil a dedicated e-auction and […]
The coal ministry has again invited bids for four coal blocks whose tender process was annulled in the first round of auction for commercial mining, as the number of technically qualified bidder for each mine was just one. Of the four coal blocks, three are in Odisha and one is in Jharkhand. “The nominated authority […]
Coal Minister Pralhad Joshi said the Centre is planning to go for next round of auction of blocks in January 2021. He also appealed to the states to cooperate with commercial mine allottees to facilitate early operationalisation of the blocks as it would create a positive atmosphere and boost confidence of investors. The statement assumes […]
The largest of the four coal blocks that were bid out to private players — Gare Palma IV/1 mine in Chhattisgarh — went to Jindal Power (JPL). As in the first two days of the first phase of auctions undercommercial mining, aggressive bidding was seen in the case of smaller blocks, while larger peers also […]
The Union coal ministry has received offline bids for only 23 coal mines out of the 38 blocks offered for commercial coal auctions. As many as 46 companies have placed their bids physically for commercial coal mining, the government said. On 18 June, the government had launched the maiden auction for coal blocks, where private […]
Despite the COVID-19 pandemic that has created a demand-supply mismatch, the bulk tea industry has witnessed a sharp increase in both consumption as well as prices, according to a report by ratings agency, ICRA. The bulk tea companies, particularly of northern India are expected to report their best financial performance witnessed in recent history, mainly on the […]
