In a bid to attract investments and boost coal production, the government approved promulgation of an ordinance to open up the coal mining sector further by allowing non-coal companies to take part in auctions without end-use restrictions. The Centre also gave its nod for concluding auction of iron ore and other mineral mines before the […]
Rising geopolitical tensions and pressures to the global economy will continue to evoke volatility in commodity markets, heightening risks to metal demand and prices, Fitch Solutions’ newest report on key Asia mining themes finds. The Asian mining landscape will continue to benefit from the availability of high-grade resources and low labour costs, although key countries will […]
The bidding of coal mines for commercial purposes may get further delayed as issues such as base price for the auction are still undecided. According to industry watchers, the debate is whether the Coal India notified price for certain grades of coal can be an appropriate scale to set the auction base price for these […]
State-owned iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal. Both the Rohne and Tokisud North blocks located in Hazaribagh district were allocated recently by the Ministry. The allocation was made under Section 5(1) of Coal Mines (Special Provisions) Act 2015 for […]
In its latest global industry overview, Fitch analysts maintain a bearish outlook on metal prices as trade tensions and a weak demand outlook remain “firmly in place.” Fitch says among key themes for 2020 are ongoing macroeconomic risks and weak demand, which will keep prices suppressed over the year. The firm forecasts prices for most metals to […]
Rising food prices pushed the retail inflation in November 2019 to over three-year high of 5.54 per cent, breaching the Reserve Bank’s medium-term target of 4 per cent, thus justifying the central bank’s decision to keep the benchmark interest rate unchanged in its monetary policy earlier this month. According to the data released by the […]
The mysterious disappearance of VG Siddhartha, the founder of India’s largest coffee chain Cafe Coffee Day, followed by his suicide is indeed tragic. Indian Express reported that late Cafe Coffee Day founder VG Siddhartha had deep business interests in Odisha that went beyond the popular cafe chain. Along with the CCD outlets at several places […]
The most divisive mining project in recent Australian history can finally break ground after the state of Queensland cleared the final regulatory hurdle on Thursday for Adani Group’s Carmichael coal mine. The approval of the project’s groundwater management marks the end of an almost 10-year wait, during which the proposed mine faced steady resistance by environmental groups. Local […]
India’s factory production expanded in April 2019 by 3.4 per cent from a revised growth of 0.35 per cent reported for March, 2019, official data showed. However, on a year-on-year basis, April’s industrial production growth of 3.4 per cent was lower than 4.5 per cent that was achieved during the corresponding month of the previous […]
Growth of eight core sectors slowed to 2.6 per cent in April compared to 4.7 in same month last year, government data showed. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stood at 127.5 in […]
