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 […]
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 […]
State-run aluminium maker Nalco will invest around Rs 30,000 crore by financial year 2027-28 on various expansion and diversification plans. Of this proposed investment, the company will spend over Rs 7,000 crore on a fifth refinery, development of Pottangi bauxite mines and transportation and Utkal D&E coal mines. The remaining Rs 22,000 crore will be […]
The Indian mining industry has urged the government to reduce high export taxes on iron ore and bauxite, which are stifling the growth of the industry. Sunil Duggal, president of the Federation of Indian Mineral Industries, said that around 137 million tons of iron ore fines of 62% grade were lying unutilised at the mines […]
The Indian aluminum sector finds itself buffeted by the winds of uncertainty because of the COVID-19 pandemic. Industry leaders have suggested many measures to the India government to put the sector back on track. Top of the list is a request to allow an export scheme for aluminum without any cap on the total exports. […]
India’s mining industry has urged the government to re-examine an export duty of 15% imposed on bauxite that has sharply cut down shipments as well as policy measures to facilitate production of the aluminium-making material. R.L. Mohanty, vice president of Federation of Indian Mineral Industries told a conference titled “Leveraging Indian Bauxite and Aluminum Industry for […]
India is planning to swiftly move forward with a process of offering nearly 500 mining blocks for various minerals to domestic and foreign investors, Pralhad Joshi, minister for coal and parliamentary affairs, said Tuesday. The move comes as part of Prime Minister Narendra Modi’s vision of Atma Nirbhar Bharat, or self-reliant India. This will be the […]
Global mining giant Rio Tinto said it achieved a robust production in the second quarter of this year with volumes up 1% compared with the second quarter of 2019 on a copper equivalent basis despite significant global challenges and restrictions related to COVID-19 pandemic. It said in a statement that Pilbara iron ore shipments of […]
Global supplies of bauxite, the mineral for making aluminium, have been unscathed by the Covid pandemic and are expected to grow by 3.3% in value annually over the next seven years, says a report by Grandview Research. The global bauxite market was valued at $9.9 billion last year. China is the largest producer of bauxite, […]
The index of mineral production of mining and quarrying sector for March this year (Base: 2011-12=100) at 132.7 was exactly the same as compared to the level in the same month last year, the Ministry of Mines said in a statement. The cumulative growth for the period April- March (2019-20) over the corresponding period of previous year […]
