The Centre and key mineral producing states are likely to incur a revenue loss of up to Rs 12,000 crore in FY21 due to lower coal and mineral consumption during the coronavirus lockdown, a KPMG report said. “As per our estimates, the top five mineral producing states are likely to see an impact of around […]
The renewed focus on commercial coal mining with revenue sharing model is unlikely to attract new investment in the short term as private miners remain cautious about placing aggressive bids that would put the company in a difficult financial situation at the production stage, reports The New Indian Express. admin
India announced major reforms for its coal sector in its efforts to attract more investments to boost domestic production at a time when the country is a net importer of coal despite having the world’s fourth-largest deposits. Finance Minister Nirmala Sitharaman told reporters that there was an urgent need to reduce import of substitutable coal […]
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 […]
Private capital tracker Preqin says in an update that contrary to expectations, 2018 was another bumper year for the metals and minerals industry, particularly for natural resources investments. Fundraising by unlisted funds for investment in natural resources – oil and gas, timberland, farmland, water and mines – set a fresh record in 2018 and is […]
When Apple sent a rare warning about its disappointing sales in China, it almost spooked global markets. A slowdown in the world’s second largest economy is an ominous sign indeed, a sign that the slowdown might have a ricochet effect on other economies as well. Add China’s tariff wars with the US, and the sliding […]
India is expected to grow at a healthy 7.3 per cent in fiscal year (FY) 2018 helped by improved domestic demand, steady revival in industrial growth and reduced drag from net exports, according to a recently released Asian Development Bank (ADB) report. In an update to its flagship annual economic publication, Asian Development Outlook (ADO) […]
After staying stagnant or witnessing a downtrend since 2012-13, the value of major minerals produced in the country registered a sharp rise of 28 per cent to Rs 607.30 billion in FY18. According to data collated by the ministry of mines, total value of all minerals was estimated at Rs 1,135.41 billion in FY18, 13.26 […]
India produced over Rs 1.13 lakh crore worth of minerals, excluding atomic and fuel minerals, during 2017-18, an increase of 13 percent over the previous year, the Ministry of Mines said in its 2017-18 annual report. According to the report, the value of metallic minerals stood at Rs 53,029 crore while non-metallic minerals including minor […]
Against a rich haul in 2017, when global diamond supply by volume increased by 11.7 per cent year over year, diamond supply in 2018 is forecast to shrink by 3.4 per cent to 147 million carats, according to a report in Mining.com. Out of the world’s top three diamond miners by volume, only De Beers is […]
