A subsidiary of Tata Steel, Tata Steel Mining Ltd. (TSML), plans to double its ferro chrome manufacturing capacity in India from the current 4.5 lakh tonnes per annum to 9 lakh tonnes per annum. TSML has already become India’s largest chrome ore mining company after acquiring Sukinda chromite mine, Saruabli chromite mine and Karmada chromite […]
Australia’s department of industry’s quarterly report outlines a bonanza for the country with annual iron ore export values expected to peak at A$136 billion ($103 billion) in 2020–21 and stay above A$100 billion for the next five years. The strong earnings of Australian mines are thanks to new mines and expansion projects coming online, which […]
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 […]
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 […]
The government plans to provide incentives to mineral block allocatees for early commencement of production from the auctioned mines, a move aimed at increasing mineral output of the country and reducing imports. The mines ministry plans to do the same through amendment of the mining rules and has sought comments and suggestions from stakeholders on […]
Environmentalists and politicians in Goa, India, known globally for its beaches and dense forests, are opposing a plan by Prime Minister Narendra Modi’s government to turn the southwestern coastal state into a coal transportation hub. Protests against the initiative began last year, when New Delhi unveiled three infrastructure projects to increase coking coal handling at the state-run Mormugao Port Trust […]
With shortfall in production and supply of iron ore from a large number of mines auctioned before expiry of leases on March 31, 2020, India’s mines ministry has proposed amendment in Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules (MCR), 2021 which prescribes stricter conditions against defaulting leaseholders. The draft amendment of […]
The Indian cabinet has approved a proposal to amend the relevant law for auctioning partially or minimally explored mines under current leases, but entangled in legacy issues and litigation through competitive bidding. Over 500 non-coal mineral blocks will be up for grabs now. Further, the employment-intensive, but highly under-invested sector, will get a fillip from […]
India expects to invest $ 54.5 billion in clean coal projects over the next decade as it seeks to tap domestic energy sources and curb imports, home minister Amit Shah said at a signing ceremony to develop new mines. The investment will be made in clean coal facilities, including coal gasification and coal-bed methane, Shah […]
The Cabinet is likely to consider and approve the mining sector reform proposals, announced in May last year by finance minister Nirmala Sitharaman as part of the Atmanirbhar package. Sitharaman had announced a series of reform proposals for the mining sector. The reforms proposed to offer a comprehensive license as opposed to separate licenses for […]
