Pandemic takes a toll on non-coal mining leases; six in 2020-21 against 43 in 2019-20

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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 […]

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Platinum soars, gold dips; Platinum crosses $1,300 an ounce for the first time in six years

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Platinum surged above $1,300 an ounce for the first time in more than six years on bets that a recovery in industrial demand and stricter emissions rules will tighten supply of the metal. In contrast, gold edged lower. Tougher pollution regulations requiring vehicle makers to use more platinum in catalytic converters are supporting prices. Platinum […]

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WEEKLY WRAP UP- Post Covid, a new world order emergeth: Modi

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The Group of 20 major economies need to focus on broad-based vaccine rollouts and consider all financing options for deeply distressed countries, including an allocation of International Monetary Fund Special Drawing Rights (SDRs), IMF’s chief economist Gita Gopinath said. She also called for additional for poor countries who could “barely spend during this pandemic” and […]

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Weekly wrap – Signs of stronger-than-expected economic recovery

Global economists updated China’s economic outlook this week given the new COVID-19 situation and effects of policy support, and expect a sustainable and more balanced recovery this year. China’s economy is projected to grow by 8.1 percent this year, built on its effective pandemic containment measures and policy support, according to the latest International Monetary […]

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Global gold output to rise 5.5% in 2021 – report

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After declining in 2019, global gold production was adversely affected by the covid-19 pandemic during 2020, while the suspension of expansion works and contractions from mines nearing closure also exacerbated the decline. Overall output in 2020 was estimated to have declined by 5.2% to 108 million ounces, according to UK-based analytics company GlobalData. This year, however, […]

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Budget 2021: SEBI to be the regulator of proposed spot gold exchange; proposal to introduce an investor charter

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In her budget speech, India’s finance minister called upon Securities and Exchange Board of India (SEBI) to act as a regulator for the proposed exchange for spot gold. SEBI currently regulates the equities market along with commodity futures market. “In the budget of 2018-19, government had announced its intent to establish a system of regulated […]

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