TCG in talks with global firms for Odisha and Tamil Nadu mega power projects

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 […]

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ArcelorMittal Nippon Steel participating in Odisha iron ore mine auctions

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,” […]

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Domestic non-basmati paddy prices rule firm over damage to crop last year

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 […]

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Steel producers in India raise prices by Rs 1,000-1,500 a tonne as demand perks up

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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 […]

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Manganese and chromite mines in India facing closure and job loss

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 […]

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India okays allocation of 5 coal mines; allows part output sale in open market

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 […]

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