During the current fiscal, 2020-21, very few non-coal mining leases were allotted. Compared with 43 blocks successfully auctioned in 2019-20, only six leases could be auctioned out so far in the current fiscal, data from the ministry of mines showed. Since the time mining allocation was made mandatory through the auction route in 2015, a […]
India’s coal ministry has added 11 new blocks to the list of mines planned to be offered for the second tranche of the commercial coal mine auctions. With these new additions, as many as 75 mines with reserves of about 38,000 million tonnes (MT) of coal, will be offered for commercial mining without any end-use […]
National Aluminum Co Ltd (Nalco) reported a consolidated profit of Rs 239.71 crore for the quarter ended December 31, 2020. The company had posted a consolidated loss of Rs 33.90 crore in the corresponding quarter of the previous financial year, Nalco said in a filing to the BSE. The net profit has jumped by 123 […]
India’s only gold producer Hutti Gold Mines plans to triple annual production of the yellow metal to 5,000 kgs in one-and-a-half years, according to Karnataka Mines and Geology Minister Murugesh R Nirani. Nirani, who completes one month in office as cabinet minister in the BJP-ruled Karnataka government, added that due to COVID-19, the revenue from mines […]
The government plans to provide incentives to mineral block allocatees for early commencement of production from the auctioned mines, a move aimed at increasing mineral output of the country and reducing imports. The mines ministry plans to do the same through amendment of the mining rules and has sought comments and suggestions from stakeholders on […]
Wholesale price of raisins has gone up by Rs 40-50 per kg in Maharashtra, thanks to the festive season. The rise in prices is despite a record production this year. Raisin farmers who were earning Rs 100-120 per kg for raisins are now getting Rs 120-220 per kg for the produce. Around 90,000 tonnes of […]
The auction of coal mines for commercial mining witnessed “fierce competition” and the 19 blocks that went under the hammer can generate total revenues of around Rs 7,000 crore per annum Coal Minister Pralhad Joshi said. The minister also said that once these blocks are operatinalized, it could create more than 69,000 jobs. The auction […]
India’s tea exports in 2020 have taken a beating on volume, value and price, compared to the same period of 2019. Till July 2020, for which official data are available with the Tea Board, India’s tea exports nosedived to 115.27 million kg (mkg) from 141.26 mkg during January-July 2019, marking a decline of 18.40 per […]
India’s latest round of coal-block auctions was all set to kick off on 19 October. However, on 14 October, in an unexpected move, the Centre announced yet another delay in the process. The government will announce the revised schedule “shortly” for the latest auctions, which would, when they happen, become the first following the complete […]
The Odisha government has concluded auction of 17 iron ore mines, that were expiring in March 2020. The auctions saw the mines being taken at high premiums, up to 154 per cent over reserve price. The new auction process has pitted the small miners against the big players slush with funds. This has helped the […]
