The directorate general of foreign trade (DGFT) has said in a notification that the import policy for copper and aluminium has been amended from “free” to “free with compulsory registration” under the non-ferrous metal import monitoring system (NFMIMS). The NFMIMS will be effective from 12 April, 2021. In line with the import monitoring system for […]
State-owned miner Coal India (CIL) has tied up with 17 power plants to drive import substitution, besides other measures that have helped it to push 71 million tonnes of additional coal to consumers ending February this fiscal, Financial Express reported. India’s coal imports dropped 29.7 per cent to 48.84 million tonnes in April -June this fiscal and […]
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 […]
State-run engineering firm BHEL said it has bagged an order worth Rs 450 crore for a steam and power plant from National Aluminium Corporation Limited (NALCO). The Rs 450 crore order has been placed on BHEL by NALCO for its 5th Stream Alumina Refinery Expansion Project at Damanjodi, Odisha, Bharat Heavy Electricals Limited (BHEL) said in a statement. BHEL’s […]
State-run aluminium maker Nalco will invest around Rs 30,000 crore by financial year 2027-28 on various expansion and diversification plans. Of this proposed investment, the company will spend over Rs 7,000 crore on a fifth refinery, development of Pottangi bauxite mines and transportation and Utkal D&E coal mines. The remaining Rs 22,000 crore will be […]
Argentina has invited companies from India to participate in the oil and gas exploration bidding rounds likely to be organized by the Argentine provinces. Additionally, India and Argentina are also having talks to implement an agreement in the field of lithium signed between the Indian company KABIL and Argentine JEMSE in July 2020. KABIL (Khanij […]
Just like the Steel Import Monitoring System (SIMS) that captures details of steel imports on a weekly basis, the government will soon put in place similar mechanisms to monitor imports of coal, aluminium and copper with the aim of capturing disaggregated data to facilitate effective monitoring and policy intervention. India’s imports of coal and coke, […]
Falling global prices of alumina and aluminium are likely to put pressure on Indian producers of primary aluminium, which have achieved nearly full capacity utilization, said Tapan Kumar Chand, chairman and managing director, National Aluminium Corporation (Nalco) while addressing shareholders at the company’s annual general meeting, reports Business Standard. He also said that domestic prices were linked […]
With imports of finished aluminium products having risen over 50 per cent year-to-date, the micro, small and medium enterprises (MSME) segment is witnessing sharp margin contraction and slim hope for change in situation for the next six months. “Margins of MSME players have dropped to 2-3 per cent, from 8-10 per cent, as the surge in finished […]
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 […]
