India’s commerce ministry to monitor imports of aluminium, copper

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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 […]

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BHEL secures Rs 450 crore order for steam and power plant from NALCO

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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 […]

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Nalco plans Rs 30,000-cr investment for expansion, diversification by FY28

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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 […]

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India to bid for hydrocarbon projects in Argentina; also to sign an agreement on Lithium

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 […]

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Aluminium producers likely to see pressure on profits: NALCO CMD, T.K. Chand

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 […]

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India’s domestic aluminium MSME firms suffer decrease in margins on rising imports

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 […]

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Over 100 mineral blocks in India ready for online auctions, says mines minister

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 […]

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