FIMI

FIMI has urged the Finance Ministry to raise the basic customs duty on aluminium products to 15 per cent, citing rising imports, poor-quality scrap inflows and the pressure

He says, failure to attract investment in the same order as our geological siblings has kept India as a big net importer of minerals

FIMI has said that stockpiles at mine-heads are increasing and not allowing their export will amount to complete wastage of a material which can earn valuable foreign exchange for the country

Miners' body FIMI has welcomed the draft Environment Impact Assessment (EIA) notification, and said that it will help to streamline and rationalise the environmental clearance process. In a letter to Ministry of Environment Forest & Climate Change, Federation of Indian Mineral Industries (FIMI) Secretary General R K Sharma said "we believe the draft Notification is a welcome step towards streamlining and rationalising the environmental clearance process, improve objectivity and transparency along with stakeholder participation." FIMI further said it is a welcome step for the mining sector and the streamlined process in the draft EIA Notification, 2020 will attract major investments, reduce imports and create multiple livelihood opportunities in the country, along with necessary environmental protection and effective monitoring mechanism. The draft EIA notification was issued by the environment ministry in March and public suggestions were invited. The present EIA Notification, ...

Fimi, EEPC raise issue with the govt over price hike, saying domestic market rates are higher than export prices

Demands domestic steel price monitoring, regulation mechanism

Miners' body FIMI on Thursday said digitalisation is challenging traditional industry lines and business models and there is a need for adoption of technology and digital mining in India

According to FIMI, iron ore exports in 2019-20 rose to 36,623.71 tonnes from 16,198.90 in 2018-19

FIMI's Sharma said that it will take some more time for these mines to be operational as most of the allottees who have made unsustainably high bids are now taking time to commence operations

None of the merchant mines in Odisha whose lease validity expired by March 31 has been able to restart. Though the successful bidders have got LoI, they awaiting formal vesting orders

Experts believe Q1 will be a complete washout for the sector; assuming subdued activity during monsoons or Q2, revival is only expected towards the second half of FY21

The mineral lobby body has appealed to the Union finance ministry to exempt bauxite exports from duties

India's low grade bauxite have become unviable for the producers in international trade

Closure of mines and disruptions due to changes in legislations has thrown the sector out of gear, curtailing production and endangering jobs

Analysis by Fimi shows how auctions have lulled mining from virgin blocks

Non-plant grade bauxite has limited avenues of usage in India and thus it was mostly exported but the duty on its export hampered business

The government is creating a coal price index as part of its plans to open the coal sector to outside investment and end state-run Coal India's control over prices.

End-user industries say 200 mn tonnes iron ore capacity still operative after lease expiry

FIMI represents the interest of mines and mineral based industries and has over 400 members from across the country