R/€ = 15.74 Change: 0.20
R/$ = 13.57 Change: 0.18
Au 1275.39 $/oz Change: -6.78
Pt 867.00 $/oz Change: -13.04


UAE serves arbitration notice to India for failure to offer bauxite

By: Ajoy K Das     12th January 2017 The Indian government has been served with a notice for international arbitration by the United Arab Emirates (UAE's) Ras Al-Khaimah Investment Authority (RAKIA) seeking compensation of $44.71-million or immediate fulfilment of commitment for the supply of bauxite and alumina for a planned... 

Coal India to maintain prices despite rising international coking coal market

By: Ajoy K Das     21st October 2016 Coal India Limited (CIL) has decided to maintain its domestic coking coal prices to liquidate stocks and offer an import substitution window to local steel producers, as international coking coal prices surge. According to a CIL official, by maintaining prices of domestic coking coal, CIL expects... 

India to seek $15bn of investment to double mining output

By: Bloomberg     29th August 2016 India expects to woo one-trillion rupees ($15-billion) of investment over five years to double mining output and cut mineral imports. The government’s goal is to fast-track exploration, including upfront payments for discovered deposits when the mines are auctioned, Mines Minister Piyush Goyal... 

NSL cuts back on Phase 2 costs

By: Esmarie Swanepoel     21st March 2016 Junior iron-ore producer NSL Consolidated has advanced the Phase 2 wet beneficiation plant for its iron-ore projects in India, after signing a plant and equipment contract with a Chinese supplier. Under the terms of the agreement, NSL negotiated more favourable commercial terms for the plant... 

Oversupply, low prices crank up pressure on global coal industry

By: Kim Cloete     4th February 2016 The oversupply of coal and resultant “flailing prices” have cranked up the pressure in the global coal industry, with warnings of an “investment drought” in commodity projects. “Continuing flailing prices could be devastating for commodity exporters. World economies could face an investment... 

India and Afghanistan won't pursue mining, steel project

By: Ajoy K Das     27th November 2015 India and Afghanistan have called off all talks on a proposed $11-billion iron-ore mining and steel mill project by a consortium of Indian metal companies. According to a senior government official, the Indian government, which had been supporting the Indian consortium through bilateral talks... 

Foreign acquisition divides Indian private and public sector companies

By: Ajoy K Das     23rd November 2015 The Indian government has called upon domestic mineral and mining companies to step up the acquisition of overseas assets, again showing up strategic differences between public and private companies. Addressing representatives from the sector, India’s junior Steel and Mines Minister Vishnu Deo... 

Global steel industry leaders offer thoughts on sustainability

By: David Oliveira     6th November 2015 Earlier this month the World Steel Association (worldsteel) launched its Steel in a Sustainable World online series and CEO Insights to highlight the role of the global steel industry in creating a sustainable future for the planet. CEOs from seven leading steel companies – Nippon Steel &... 

India seeks bilateral talks with Afghanistan on stalled mining project

By: Ajoy K Das     15th June 2015 The Indian government will initiate bilateral talks with the Afghan government to salvage a floundering $10-billion mining and steel project in that country. Discussions between the two External Affairs Ministries were expected to decide the fate of the Indian mining and steel mill investments... 

India's JSW Steel 'very close' to deal for London Mining – source

By: Reuters     10th October 2014 India's third-largest steelmaker JSW Steel is nearing a deal to buy embattled West African iron-ore miner London Mining, a source with direct knowledge of the negotiations said on Friday. "JSW is very close to a deal. It is almost 100% done," the source said. 

Indian iron-ore price spikes trend, steel producers in quandary

By: Ajoy K Das     4th July 2014 Indian domestic iron-ore prices were moving in the opposite direction to global trends with steel producers facing a double whammy of shortages and high raw material costs. NMDC Limited, the country’s largest iron-ore miner, has announced that it would maintain the higher price levels during... 

India’s NMDC ups production and prices

By: Ajoy K Das     10th June 2014 India’s NMDC Limited has increased iron-ore production to 4.94-million tonnes during the first two months of the current fiscal year, up from the 4.90-million tonnes produced during the previous corresponding period. During April-May, the country’s largest iron-ore miner produced 3.56-million... 

India’s plan for e-auction of iron-ore flounders

By: Ajoy K Das     13th February 2014 India’s plan to introduce a nationwide iron-ore e-auction was floundering amidst opposition from provinces and steel producers and allegations of price manipulation at the trial run. The Mines Ministry has proposed implementing an e-auction for the allocation of iron-ore deposits to ensure... 

Indian government puts Afghan mining, steel projects on hold

By: Ajoy K Das     30th October 2013 India’s venture into iron-ore resources in Afghanistan has hit a roadblock with the Indian government seeking fresh due diligence and scrutiny of agreements signed by government-owned companies for planned investments in that country. An inter-Ministerial group reviewing Indian projects in... 

Indian captive coal, iron-ore mining hit by fresh uncertainties

By: Ajoy K Das     4th September 2013 India’s questionable mining industry policy framework has been dealt a double whammy of uncertainty over captive coal and iron-ore mining. In the case of the steelmaking industry, the Mines Ministry has ruled that the allotment of captive iron-ore mines to domestic steel companies was... 

Indian conundrum over mining vs social development resurfaces

By: Ajoy K Das     31st May 2013 The Indian government’s conundrum over the linkages between mining, social development and tribal extremism has resurfaced, with a Minister questioning the sanctioning of mining in forests. Rural Development Minister Jairam Ramesh has raised questions over the approval of iron-ore and mining... 

Indian govt rejects scrapping import duty on iron-ore

By: Ajoy K Das     15th May 2013 The Indian government has rejected the domestic steel industry’s demand that iron-ore imports be exempted from custom duty levies in the wake of a shortage of the raw material from domestic sources. According to a Finance Ministry statement, the government did not find it feasible to scrap the... 

India proposed ban on open market fine sales

By: Ajoy K Das     18th June 2012 The Indian government has proposed legislative changes that would effectively impose a ban on the open-market sale of iron-ore by captive mine owners. The move to impose such a ban was aimed at checking the export of iron-ore fines and encouraging nudge steel producers with captive mines to... 

CIL slows down underground development/expansions

By: Ajoy K Das     14th May 2012 The world’s largest coal miner Coal India Limited (CIL) has decided to slow down development or expansion of its underground coal mines in the country, in view of steadily declining trends in production. CIL operates 467 mines; of which 273 were underground, 164 opencast and 30 a mix of both.... 


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