R/€ = 15.80 Change: 0.06
R/$ = 13.26 Change: -0.04
Au 1291.62 $/oz Change: -21.35
Pt 934.00 $/oz Change: -10.00

Ajoy K Das

Tax benefits rejected under new Indian mineral policy

20th September 2017 As the Indian government begins work on a new version of the National Mineral Policy (NMP) 2008, the Finance Ministry has said that it will not be possible to incorporate any direct or indirect tax benefits in the new policy document. The Finance Ministry said this week that use of direct and... 

Odisha to clamp down on illegal coal, nonferrous mineral extraction

19th September 2017 Close on the heels of imposing penalties on iron-ore and manganese miners, the government of the eastern Indian province of Odisha is readying for a clampdown on coal and other nonferrous mineral miners for production beyond approved mining plans. The Odisha government is preparing notices to be... 

African copper, nickel mines on Coal India radar as miner diversifies

18th September 2017 Having decided to evolve into a diversified resource major from a pure play coal miner, Coal India Limited (CIL) has identified copper and nickel mines in Africa for its maiden overseas foray into noncoal minerals. KPMG has been appointed to prepare the roadmap that will see CIL emerge as a... 

Coal shortage triggers higher LNG offtake by Indian power companies

14th September 2017 Indian power generation companies are rushing to book liquefied natural gas (LNG) to maintain generation, as coal shortages threaten capacity utilisation of thermal power plants. Over the past two to three days, power companies have made new bookings of an estimated 10-million standard cubic... 

Coal India reduces pithead stocks as shortage creeps into domestic coal market

13th September 2017 A shortage of coal in the domestic market has significantly reduced pithead stocks of Coal India Limited (CIL) and has forced the miner to regulate dry fuel supplies to nonpower consumers across the country. Rising plant load factors (PLFs) of thermal power plants has had a salutary impact on... 

India likely to miss mineral block auction target

8th September 2017 India’s Mines Ministry is likely to miss its goal of completing the auction of 71 noncoal mineral blocks across seven provinces in the current financial year, despite a flurry of activity to ease federal rules. The unpreparedness of provinces to conduct auctions is largely blamed for the tardy... 

India to amend legislation to allow for auctions of offshore minerals

4th September 2017 India’s Mines Ministry is reframing the rules and legislation for offshore mineral exploration and extraction to bring it in line with legislation governing onshore mineral auctions. The Mines Ministry has drawn up amendments to the Offshore Mineral Development and Regulation Act 2002 for... 

Coal India agrees to 20% wage increase

31st August 2017 Coal India Limited (CIL) will on Thursday sign a long-term wage agreement with trade unions, conceding to an average 20% hike against trade unions’ demand of a 25% rise. The National Wage Agreement X will benefit an estimated 370 000 workers and payments will accrue with effect from June 2016. 

NMDC slashes iron-ore production target by one third

31st August 2017 India’s largest iron-ore miner, NMDC, has pruned its production target for 2018/19 from 75-million tons to 50-million tons. According to the company’s annual report, the lower production expectation is in response to an anticipated global downturn. 

Indian iron-ore exports rise, domestic price surges on strong international market

30th August 2017 The rising international price of iron-ore has triggered a 10% spike in India’s domestic price and has raised the specter of shortages for domestic steel mills as larger volumes are being diverted for overseas shipments. Information collated from at least three miner-exporters with operations in... 

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