Delays in auctions of mining leases that are due to expire in March 2020 are threatening to disrupt the country’s production of the key steel-making raw material and raising the prospect of higher imports, according to the Federation of Indian Mineral Industries. The industry group isn’t alone in its prognosis. Citigroup Inc. last month forecast […]
Investment in coal has been declining as both global mining corporations and international banks try to address the climate crisis. Rio Tinto has exited the thermal coal business—that is, coal used in power plants. Both Anglo American and BHP are said to have begun the process of divesting their thermal coal assets. Earlier this year, […]
As many as 100 virgin mineral blocks across the country are ready for online auctions, said Union minister for mines, rural development, parliamentary affairs and Panchayati Raj Narendra Singh Tomar. “So far, 53 mines have been auctioned. The electronic auction of these assets has brought in incremental revenue of Rs 1.43 trillion to states. The additional revenue […]
The new pan-India electronic auction for tea will go online from Tuesday despite apprehensions of the industry which raised issues about the proposed system. Tea Board officials said the government agency had been in discussions with the industry for several months and had incorporated their suggestions into the new system, which will allow buyers registered […]
The long-anticipated sales from China’s State Reserve that began in May has seen strong demand with over 97 percent of the cotton being offered finding buyers, the United States Department of Agriculture said in in its latest global estimates report. As of 7 June, 3.2 million bales (697,000 MT) had been sold. Foreign cotton, primarily […]
What lessons have we learnt from two rounds of coal auctions? Yes, while they brought transparency to the allocation process, the policy did not break from the past. It continues to expect successful bidders to mine coal for specific end-use with a proviso that surplus coal may be offloaded in the open market, Sunjoy Joshi […]
