Page 12 - Mining Industry

Centre expands area limits by over 4x to boost critical minerals mining

The move comes after the Centre faced a setback in its initial auction of critical mineral blocks earlier this year

Centre plans to expand area limits to boost critical minerals mining

Shift aims to address challenges associated with mining critical minerals

Rajasthan expedites marking, e-auctioning of mines to curb illegal mining

Illegal mining can be curbed only by promoting legal mining

Centre releases draft guidelines for 'responsible and sustainable' mining

Dated July 2, these rules provide a framework for preparation and approval of exploration and production plans

Canada's policies to protect mining sector to shield takeover targets

The move appears to insulate domestic companies from takeovers when the world's biggest mining firms are hunting for metals that underpin the global transition away from fossil fuels

Over 100 industry reps attend meet before 10th round of coal mine auction

More than 100 representatives from the industry participated in a pre-bid meeting for the tenth round of commercial coal mine auctions, the government said on Friday. The government has put on sale 67 coal blocks in the 10th round of auction that was launched last month. "Ministry of Coal conducted the pre-bid meeting for 10th round of commercial coal mine auctions under chairmanship of Additional Secretary & Nominated Authority M Nagaraju, which was launched on June 21, 2024 offering 67 coal mines," an official statement said. A detailed presentation on the auction process was made by the transaction advisor, SBI Capital Markets Ltd, while another was given by the technical advisor, CMPDIL, about the mines being offered under this tranche on a revenue-sharing basis. The bid due date of this tranche of auction is August 27. Commercial coal block auction was launched by Prime Minister Narendra Modi in June 2020. Since then, in the last nine rounds, the Ministry of Coal has ...

Have arranged $250 million to settle Zambian copper mine debts: Vedanta

The miner owned by Indian billionaire Anil Agarwal will about the $250 million it needs to pay small creditors in Zambia on or around July 8, it said in a statement.

India, Australia aim to boost cooperation in critical minerals, processing

India and Australia are looking at ways to increase cooperation in critical minerals and their processing besides battery production, Commerce Secretary Sunil Barthwal said on Monday. Both countries have signed an interim free trade agreement and are in negotiations to expand that into a comprehensive pact, he said. "We are looking at how we can integrate our (India and Australia) economies in terms of battery production, in terms of mineral production, in terms of mineral processing, in terms of vehicle production," the secretary said here at a conference on the roadmap for vehicle electrification. He also said that the government has taken a series of steps to promote domestic manufacturing of electric vehicles (EVs) and strengthened the ecosystem around that like boosting charging infrastructure. Speaking at the event, Australian High Commissioner to India Philip Green OAM said they have huge mineral and energy resources that can support 'make in India'. Australia has strong ..

Mining majors give a miss to country's maiden critical minerals auction

This is not the first time the Centre has cancelled an auction due to limited interest from bidders; in the first tranche, the ministry had to cancel 14 of the 20 blocks put up for auctioning

Govt to auction 21 critical mineral blocks across more than six states

India has been auctioning critical mineral blocks since November as part of efforts towards a clean energy transition

Govt cancels 14 critical mineral block auctions launched in second tranche

India, in February, had launched the second part of its critical minerals auction worth an estimated $362 billion, listing 18 critical mineral blocks across eight states

CIL awards underground mines to private players to bolster revenue stream

Contract given on revenue-share model; idea is to unlock more coal production and industry participation

Centre asks Telangana govt to auction at least six mineral blocks by Jun 30

The mines ministry has flagged that the Telangana government failed to auction any mineral blocks in past nine years and asked the state to put at least six mines on sale by the end of this month. According to sources, geological reports of eleven blocks have been handed over to the government of Telangana for auction. These blocks consist of five iron ore mines, five limestone blocks and one manganese block. Till date not even a single block has been put up for auction by Telangana even though the mines ministry has sent repeated reminders to the state government. The process of allocating mineral blocks through auctions began in 2015. In a recent letter to the Telangana government, the mines ministry asked the state to notify a minimum of six blocks from the 11 for auction by June 30, sources said. The ministry warned that failure to do so will force the Centre to begin the auction process. As per the amendment in mining rules made in 2021, the Centre has the power to put on sa

India should reduce coal imports, says G Kishan Reddy after taking charge

G Kishan Reddy on Thursday took charge as coal and mines minister and said that India should increase domestic production of the fossil-fuel and reduce coal imports. In the previous Narendra Modi government, both the ministries were led by Pralhad Joshi. Joshi who is the Minister of Consumer Affairs, Food & Public Distribution and New and Renewable Energy was also present during the occasion and wished Reddy all the success. "We should reduce import and increase domestic production," he told reporters after taking charge. India's coal import rose by 7.7 per cent to 268.24 million tonnes (MT) in FY '24. Reddy further said 10 years ago there was a coal shortage in the country and due to this there was also a shortage of electricity. But in the last 10 years there has been sufficient power availability. When asked what will be the priority of his government for the mines sector, he said "I have just taken charge and I will review the department... first I want to see my officers the

India looks at Russia to secure rare mineral mining tech, partnership

Collaboration part of broader strategy to attract investment, foster cooperation in mineral exploration

Industrial output grows 5% in April on good show by mining, power sectors

India's industrial production grew 5 per cent in April this year mainly due to good show by mining and power sectors, according to official data released on Wednesday. The factory output measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 4.6 per cent in April 2023. India's Index of Industrial Production grew by 5 per cent in April 2024, an official statement said. The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew 3.9 per cent in April 2024 against 5.5 per cent in the year-ago month. In April this year, mining production rose 6.7 per cent and power output increased 10.2 per cent.

PLI scheme to draw Rs 3-4 trn investments over 4 yrs; boost pvt capex: ICRA

The PLI scheme is expected to attract investments of Rs 3-4 lakh crore in the next four years and generate 2 lakh jobs as large projects in sectors, including semiconductor, solar module and pharmaceutical intermediaries, are expected to take off, a top Icra executive said on Wednesday. Icra Executive Vice President and Chief Ratings Officer K Ravichandran said that going ahead private sector capex is expected to pick up in oil and gas, metals and mining, hospitals, healthcare and cement sectors. However, taking the private sector capex to record high levels would require the government to give some tax breaks so that people have more disposable income in their hands. "Under the PLI scheme, we are expecting Rs 3-4 lakh crore of additional investments in the next 3-4 years. Going ahead, semiconductor, solar module, and pharmaceutical intermediaries are some areas where large projects are expected to happen which can be capital and employment-intensive. They would be generating 2 lakh

'Vedanta demerger gets approval from key creditors, including SBI'

The green light by the majority of the creditors comes at a time when Vedanta has shown significant progress in deleveraging

Adani Power arm approves merger of Stratatech Mineral Resources into self

Adani Power Ltd (APL) on Monday said its arm Mahan Energen Ltd has approved a proposal to merge coal mining firm Stratatech Mineral Resources with itself which will help improve fuel security. Stratatech Mineral Resources, a subsidiary of Adani Enterprises, has been allocated Dhirauli Coal Mine in Madhya Pradesh. The coal mine is in close proximity to MEL's thermal power plant. The proposed amalgamation will allow MEL to operate the Dhirauli Coal Mine as captive coal mine and improve its fuel security, the company said in an exchange filing. Dhirauli Coal Mine has a peak-rated capacity to produce 6.5 million tonnes per annum of coal. The proposed scheme of amalgamation is subject to necessary approvals including that of shareholders, the company said. "... the wholly-owned subsidiary Mahan Energen Limited (MEL or the transferee company) has approved a scheme...for amalgamation of Stratatech Mineral Resources Private Limited (SMRPL or the transferor company) with MEL," it said. SM

Hindalco bidding for two nickel, cobalt mines in Maharashtra, K'taka: MD

Aditya Birla Group firm Hindalco Industries on Friday said it is in the process of bidding for two nickel-cobalt mineral blocks in Maharashtra and Karnataka. Speaking to the media, Hindalco Industries Managing Director Satish Pai said the company is not scouting for any critical mineral blocks overseas as there are a lot of blocks that have been put up for sale in India. "We are bidding for two nickel cobalt mines," he said. Critical minerals such as copper, lithium, nickel, cobalt, and rare earth elements are essential components in many of today's rapidly growing clean energy technologies -- from wind turbines and electricity networks to electric vehicles. "We are participating in those auctions. Because we believe there are quite a few interesting mines in India that have not been explored, so the government is coming up with nickel-cobalt mines, lithium mines, copper mines, and we are going to focus more on India than going overseas," he said. The company, he said, had bid for