India’s largest power producer, National Thermal Power Corporation (NTPC), has set a target of mining 10.4-million tonnes of coal from its captive mines during 2019/20. According to a company statement, NTPC had set the coal production target in its memorandum of understanding (MoU) signed with the Power Ministry, which also stipulated that the utility would […]
A delay in the auction of iron ore mines, whose licences are expiring by March next year, could hit steel production significantly in the country, a report by India Ratings (Ind-Ra) has cautioned. Licences of 288 merchant mines, of which 59 mines are under operations, will expire by March next and if the auction of […]
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 […]
Indian state of Karnataka warned NMDC Ltd. (National Mineral Development Corporation) that it will cancel the lease of its Donimalai iron ore mine if the state-owned miner refuses to pay an additional levy on the sale of its ore. Karnataka’s threat to cancel the lease stems from a dispute between government of India-owned NDMC, India’s […]
State-owned Indonesian miner PT Indonesia Asahan Aluminium (Inalum) sold $4 billion of bonds last week in its first-ever U.S. dollar bond deal to fund the acquisition of a majority stake in the world’s second-biggest copper mine, reports Reuters The deal came amid choppy global markets, rocked by trade concerns and slowing economic growth in Asia […]
Contrary to the Centre’s plan to bring down coal imports, industries are seen to be sourcing more coal from foreign countries in FY19. Among many reasons, the unresolved issue of inadequate transport mechanism to ferry coal from the mines to the manufacturing plants is considered one of the primary cause of increase imports. According to […]
India’s Supreme Court, acting on a petition alleging illegal mining, quashed the Goa government’s order to renew 88 licenses of mining companies in the state and stopped the companies from carrying out mining activities after March 16. Fresh leases will be issued only after the companies obtain environment clearances. The Supreme Court acted on a […]
The government of India has scuttled a proposal to cap iron ore prices, but is yet to derive a pricing mechanism for the raw material after differences emerged between the ministry of mines that favours a benchmarked price and the ministry of steel that opposes the move. Mining companies, however, are pitching for a benchmark price for […]
North Korea may not have proven oil or gas reserves, but it is estimated that the secluded belligerent nation sits on reserves of more than 200 minerals—including rare earth minerals—worth an estimated up to $10 trillion. North Korea has sizeable deposits of some minerals. Its magnesite reserves are the second largest in the world behind China, […]
