India’s move to open up commercial coal mining can halve the annual expenditure incurred on importing non-coking coal because of substitution through domestic production. In fiscal 2020, India imported an estimated 180-190 million tonne (MT) of non-coking coal costing over Rs 90,000 crore. The government earlier this month approved the liberalisation of coal mining by […]
Finance Minister Nirmala Sitharaman’s announcements over the weekend to allow commercial mining in India’s coal production and remove the government monopoly is unlikely to provide an immediate relief to stressed thermal power companies even as they benefit from improved coal linkages in the long run. Analysts say that since the earliest coal evacuation by the […]
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 […]
When Prime Minister Narendra Modi reviewed the mining and coal sector last week, he urged the ministries to focus more on import substitution and value addition for exports. The ministry of mines is mulling to bring in big-ticket changes to the Mines and Minerals Development Regulation (MMDR) Act to free up over 700 mines for […]
Covid-19 has impacted the mining industry across the globe as governments enforce lockdowns and quarantines and companies halt operations because workers and contractors can’t get on-site due to restrictions. S&P Global Market Intelligence in a new report tallies the impact of these mine closures, showing Africa and the Americas hardest hit in terms of the number of […]
The auctioning of mining leases in Odisha has begun and is almost half way through. The current auction of mining leases marks the end of the existing regime and the beginning of a new, anxiety-laden era. The Mines and Minerals (Development and Regulation) Act was amended in 2015, extending the life of leases of both […]
Steel companies and mining companies in India have heaved a sigh of relief after the government amended the prevailing mining law to permit the “seamless transfer” of regulatory approvals to new owners of operational iron ore mines, the Economic Times reported. Earlier last week, the government amended the Mines & Minerals (Development & Regulation) Act […]
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 […]
