Page 5 - Metals & Minerals

Hindalco: Q1 performance in line with expectations, outlook positive

In FY25, the management expects capex of Rs 5,500-6,000 crore for India operations and capex of $1.4-2.1 billion for Novelis

Provisioned, expect limited impact from SC's ruling, say metal majors

Mining industry hit estimated at Rs 1.5 to Rs 2 trillion, companies to closely watch states for next move

JSW Steel to invest $120 mn in Australian miner for raw material security

The investment will be made through wholly owned subsidiary JSW Steel (Netherlands) BV

Centre unveils rules to boost offshore mineral exploration & production

The Rules come ahead of the Centre's scheduled launch of the inaugural round of offshore mineral auctions

Critical minerals emerged as drivers of modern economy: Coal minister

Coal and mines minister G Kishan Reddy on Thursday said that critical minerals have emerged as drivers of the modern economy and the Centre has ensured the country taps into this global opportunity through the launch of the National Critical Mineral Mission. Union Budget 2024-25 has proposed launching Critical Mineral Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. Its mandate will include technology development, skilled workforce, extended producer responsibility framework, and a suitable financing mechanism. Addressing the national seminar on challenges and opportunities in the mines and minerals sector organised by the Mining, Geological, Metallurgical Institute of India, Reddy said that the government has brought about a paradigm change in the coal and minerals sector, making it transparent and competitive. He elaborated on the government's extensive efforts over the past decade to harness this potential throu

Exports of Chinese rare earth metals to jump ahead of new regulations

China will also establish a information system to track circulation of rare earth products

Govt offers 50% refund to licence holders for critical mineral exploration

The scheme allows optional participation for EL holders granted licences through auction after the scheme's introduction

K'taka, Rajasthan begin exploration licenses' auction for critical minerals

Karnataka and Rajasthan have launched an auction of exploration licenses for critical and deep-seated minerals, according to an official statement on Thursday. Karnataka launched the auction of one block each of gold, copper and lithium while Rajasthan launched the auction of three blocks of rare earth elements, rare metal and potash minerals, it said. According to the Ministry of Mines, the two states launched the auction of exploration licenses on March 6. Exploration licence blocks are being auctioned for the first time in the country, it said. The Mines and Minerals (Development and Regulation) Act, 1957, was amended through the MMDR Amendment Act, 2023, with effect from 17.08.2023, inter alia, to introduce new mineral concession of exploration licence for 29 critical and deep-seated minerals to further boost exploration and mining of critical and deep-seated minerals in the country. Critical and deep-seated minerals such as cobalt, lithium, nickel, gold, silver, and copper are

Analysts hopeful for Hindalco despite Novelis' capex revised upwards

Analysts maintained consensus 'buy' rating on Hindalco though the stock lost over 12 per cent post Q3 on Tuesday, mainly due to the sharp increase in Novelis' capex, and ended flat on Wednesday

Interim Budget: Critical minerals supply chain security takes prominence

In her Budget speech, the Finance Minister's emphasis on critical minerals signals a government commitment to achieving self-reliance in the supply of minerals crucial for cutting-edge technology

Enough liquidity to handle capex for growth cycle: JSW Steel Joint MD & CEO

Acharya says that the company is on track with its expansion plan

Tata Steel returns to profit in Q3, posts PAT of Rs 513 cr, revenue dips 3%

On standalone basis, the company's net profit stood at Rs 4,653.04 crore and revenue at Rs 34,681.90 crore

China, in comic strip, warns of 'overseas' threats to its rare earth

It also banned the export of technology to make rare earth magnets, in addition a ban on technology to extract and separate rare earths

Hindustan Zinc Q3FY24 results: Net profit down 6% at Rs 2,028 crore

For Q3FY24, Hindustan Zinc reported a consolidated net profit of Rs 2,028 crore, down 6 per cent from a year ago

Jai Balaji to invest Rs 1,000 crore to boost Durgapur plant capacity

The company, which was once financially stressed, is looking to fund the expansion through internal accruals

Mines ministry identifies offshore blocks in economic zone for exploration

The mines ministry on Thursday said it has identified some offshore blocks for granting operational rights and has sought inputs from the departments concerned to ensure there is no overlapping with other projects. In August, the government amended the Offshore Areas Mineral (Development & Regulation) Act (OAMDR) and introduced a transparent and non-discretionary auction process as the method of allocation of operating rights in the offshore areas. "The ministry has identified some blocks in the exclusive economic zone of India... in this regard, the ministry has sought comments/inputs from concerned ministries/department for availability of the offshore blocks for grant of operating rights to avoid any overlapping with the projects," the ministry said in a statement. To implement the provisions of the amended Act, the ministry framed two sets of draft rules -- Offshore Areas Mineral Auction Rules and Offshore Areas Existence of Mineral Resources Rules. The main features of the ...

Potential bidders set to get three chances in offshore mineral auction

The Ministry of Mines, has also restricted the bid security for 'Production Lease' to Rs 10 crore, contrasting with the Rs 50 crore limit for onshore auctions

India set to acquire five lithium blocks in Argentina spotted by KABIL

"Talks are in the final stages, and a proposal has been submitted to the Cabinet Committee on Economic Affairs for approval," said government officials aware of the development

Chhattisgarh govt tightens norms on utilisation of funds released from DMF

The mineral resources department issued a notification last week for the implementation of the Chhattisgarh District Mineral Foundation Rule-15

India set to launch first-ever offshore mineral auction in Q1CY24

Critical minerals are defined as those that are essential to the economic and national security of a nation but that have a supply chain vulnerable to disruption