Jindal Steel and Power Ltd (JSPL) has bagged an iron ore block in the ongoing auctions in Odisha with reserves of about 200 million tonnes (MT). The iron ore block, Guali mine, is spread over 365 hectares in the Keonjhar district of the state. Other players who had bid for the block included JSW, Adani […]
The Chatterjee Group (TCG) is in talks with global energy firms to enlist them as equity partners for its upcoming petrochemicals project in Odisha, and is also on the lookout for partners and strategic investors for its project in Tamil Nadu, reports Business Standard. TCG, owned by Purnendu Chatterjee, is planning to invest around Rs 78,000 crore […]
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 […]
To securitise its iron ore requirements, ArcelorMittal Nippon Steel (AMNS) is participating in the ongoing auctions of iron ore mines in Odisha, PTI reports. ArcelorMittal Nippon Steel India (AMNS India) is a 60:40 joint venture between L N Mittal-owned ArcelorMittal and Japan-based Nippon Steel Corporation. “We are participating in ongoing auctions of mines in Odisha,” […]
Amid the setback faced by the Indian basmati exporters over stalled shipments due to the ongoing US-Iran standoff, the prices of non-basmati paddy are holding firm and rising in some local markets after reports of crop damage following last year’s heavy rainfall and subsequent flooding in major growing areas have surfaced, Business Standard reports. After the advisory by All India Rice […]
Responding to cost pressure and greater demand, domestic steel producers have raised prices by Rs 1,000-1,500 a tonne across products for January, reports Business Standard. “Iron ore miners have increased prices by Rs 600 per tonne and so this increases the cost of production by Rs 1,000 a tonne. Hence, we have hiked prices from […]
With seven manganese and four chromite non-captive mines on their way to shut down by March 2020, the mining industry is staring at a sizeable job loss since the ratio of direct and indirect employment is 1:10. This is just the beginning since mining leases of total 329 mines of private mining companies, including 48 operative and 281 non-operative mines spread […]
Iron prices are set to increase from March 2020 as the Odisha government annulled three rounds of bids called in to auction 20 iron mines whose leases are expiring in March. The fresh bid documents were released on December 6 with original timelines maintained. In an attempt to stop cornering of mines by one single […]
The parliamentary standing committee on coal and steel said that the issue of high-operating costs of coal mines run by the PSUs requires the Union coal ministry’s “serious consideration”. During FY19, the lowest operating cost of an open cast (OC) mine owned by Coal India Ltd (CIL) was Rs 455.5 per tonne, while the highest cost was […]
The Indian government has approved the allocation of five coal mines with a combined capacity of about 5.2 million tonnes per year, allowing successful bidders the flexibility to sell a portion of the production in the open market, according to the ministry of coal. “The significant feature of the allocations is that for the first […]
