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Mines Ministry
Union Coal and Mines Minister G Kishan Reddy on Saturday said the Centre would set up a mineral trading exchange similar to the London Metal Exchange. In a media interaction here, he said the mineral exchange would be established as per the norms of SEBI. "Like the London Metal Exchange, we are going to set up a mineral exchange in India," he said. The proposed mineral exchange is expected to facilitate better price discovery for industries, traders and other stakeholders. Mineral exchange was made part of recently-passed legislation and the guidelines concerned would be issued soon, he said. Asked if the US tariffs would have any impact on the domestic coal industry, he said it would not be much. He further said the country exports aluminium to America in a small measure. Reddy said the government had reduced coal imports substantially, saving foreign exchange to the tune of Rs 60,000 crore. The steel-makers in the country have boilers built for using good quality imported coa
The iron ore production in April-February period of the current fiscal rose by 4.4 per cent to 263 million tonne (MT). In the year-ago period, the production was 252 MT, the mines ministry said in a statement. The production of iron ore was 274 MT in 2023-24. Iron ore accounts for 70 per cent of the total mineral production by value. Manganese ore production increased 12.8 per cent to 3.4 MT in April-February FY25 from 3 MT during the corresponding period of previous year. Bauxite output rose by 3.6 per cent to 22.7 MT in the period from 21.9 MT a year ago. In the non-ferrous metal sector, primary aluminium production in April- February FY25 rose 0.9 per cent over the corresponding period last year. India is the second largest aluminium producer, among top ten producers in refined copper and fourth largest iron ore producer in the world. Continued growth in production of iron ore in the current financial year reflects the robust demand conditions in the user industry viz. steel.
Union minister G Kishan Reddy on Monday said the Centre will soon launch the National Critical Mineral Mission (CMM) to enhance domestic production, reduce import dependence, and encourage offshore mining auctions, while urging states to cooperate for sustained mining activities. Reddy made the remark after inaugurating the 3rd National Mining Ministers' Conference in Konark, in the presence of Odisha Chief Minister Mohan Charan Majhi, Bihar's deputy CM Vijay Kumar Sinha, Telangana deputy CM Bhatti Vikramarka Mallu, and other dignitaries and industry leaders. "The mission will soon get Cabinet approval. Union finance minister had announced about it in her budget speech. Import duty on critical mineral has also been made zero," Reddy said. Lithium, cobalt, copper, nickel and rare earth elements are known as critical minerals which are essential for manufacturing defence equipment and key technologies. Stating that India has already made a place in the global platform on critical ...
The country's iron ore production rose by 3 per cent to 182.6 million tonnes (MT) in the April-November period of the current fiscal. India's iron ore output was 177.2 MT in the year-ago period, according to the provisional data. The mines ministry in a statement said that the country's manganese ore output rose by 9.5 per cent to 2.3 MT in April- November period over 2.1 MT during the corresponding period of the previous fiscal year. Production of chromite rose to 2 MT over 1.8 MT in the year-ago period. The production of bauxite also rose by 8.9 per cent to 15.9 MT in April- November period over 14.6 MT in the corresponding month of the previous fiscal. "In the non-ferrous metal sector, primary aluminium production in FY 2024-25 (April-November) posted a growth of 1.1 per cent over the corresponding period last year, increasing to 27.91 lakh tonnes (LT) in FY 2024-25 (April-November) from 27.60 LT in FY 2023-24 (April-November)," the mines ministry said. India is the second-larg
The government on Wednesday said that 24 critical and strategic mineral blocks have been sold in four rounds of auction. "Out of 48 blocks put to e-auction, 24 have been successfully auctioned, including four mining lease (ML) and 20 composite license (CL) blocks," the mines ministry said in a statement. The centre has so far completed four tranches of e-auction, it said, adding that a total of 10 blocks have been auctioned in the fourth round. According to the statement, the mines ministry has completed the e-auction of another two mineral blocks under tranche IV. "This is in addition to the announcement on November 7, 2024, regarding the preferred bidders for eight mineral blocks under tranche IV of e-auction by central government, bringing the total number of successful blocks in Tranche IV to ten," it said. In the latest auction, Satguru Mining Pvt Ltd won the bid for Ponchi graphite block in Jharkhand, while Assam Mineral Development Corp Ltd emerged as the preferred bidder f
The government will on Thursday launch the first round of sale of mineral blocks in offshore areas with 13 mines across the Arabian Sea and Andaman Sea set to be auctioned. These mineral blocks consist of a mix of construction sand, lime mud, and polymetallic nodules. These minerals are critical for infrastructure development, high-tech manufacturing and green energy transition. "The Ministry of Mines will be launching the first-ever tranche of auction of mineral blocks in offshore areas of India on 28th November 2024," an official statement said. The move assumes significance as it will lead to foray into the exploration and development of undersea mineral resources within its offshore area. Offshore areas include territorial waters, continental shelf, exclusive economic zone, and other maritime zones of the country. With the global shift towards technologies reliant on high-demand minerals, such as cobalt, nickel, rare earth elements, and polymetallic nodules, India must develop