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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Cabinet approves extension of jute packaging norms for foodgrains and sugar

The Cabinet has approved extension of norms for mandatory packaging of foodgrains and sugar in jute material for the Jute Year 2019-20. The decision taken by the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, mandates that 100 per cent of the foodgrains and 20 per cent of sugar will be mandatorily […]

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Three coal mine auctions close with significant variations across winning bid prices

The auction of coal mines under the eighth, ninth and tenth round has come to a close with winning bid prices reflecting the significant variation. The highest winning bid amount from among all mines bid out, at Rs.1,674 per tonne, has been quoted for the Jamkhani coal mine in Odisha by Vedanta Limited. Prakash Industries’s […]

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Supreme Court approves ArcelorMittal’s acquisition of Essar Steel

The Supreme Court of India has unconditionally approved ArcelorMittal India Private Limited’s (AMIPL) resolution plan for Essar Steel India Limited (ESIL). Completion of the transaction is now expected before the end of the year. After completion, ArcelorMittal will jointly own and operate ESIL in partnership with Nippon Steel Corporation, Japan’s largest steel producer and the […]

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Odisha govt invites bids for 10 iron ore and manganese blocks

The Odisha government has invited financial and technical bids to grant mining leases (ML) for 10 iron ore and manganese blocks, reports Business Standard. The central government had recently approved the revision in mining lease area limits for iron ore and associated minerals in Odisha to 58 square kilometres (sq km), up from 10 sq km prescribed in Section 6 (1) […]

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