Page 22 - Mining Industry

Vedanta to invest Rs 6,600 cr on Balco expansion over 18-24 months

This would be first major investment after a long gap by Vendanta in the entity it acquired by purchasing majority government shareholding nearly two decades back.

Vedanta first quarter after-tax profit jumps four-fold to Rs 4,280 crore

As of June, net debt of the company was at Rs 20,261 crore

Here come the miners, with record profits & blockbuster dividends

Five big miners could report combined earnings of $85 billion; Rio Tinto, Vale and Anglo are due to report financial results this week

Tata Steel arm, Jindal Stainless sign MoU for chrome ore mining in Odisha

Tata Steel Mining Ltd and Jindal Stainless Ltd signed an MoU to jointly unearth chrome ore locked up in the boundary between their mines located at Sukinda in Odisha's Jajpur district

Govt revises timeline of second tranche of coal mine auctions

The last date for submission of bids has been extended to July 8, 2021.

Vedanta emerges as successful bidder for coal block for mining in Odisha

Vedanta has emerged as successful bidder for a coal block in Odisha which was put for re-bid in the second attempt of auction of blocks for commercial mining.

SAIL sits on 42 mn tonnes of sub-grade ore, mulls beneficiation plant

As on March 31, 2020, SAIL valued its inventory of 42.98 million tonne at net realisable value of Rs 3,792 crore.

Tata Steel Mining gets successful resolution applicant for Rohit Ferro-Tech

Tata Steel Mining Limited (TSML) has been declared as the successful resolution applicant by the creditors of Rohit Ferro-Tech Limited, steel major Tata Steel said on Sunday.

Coal India alive, sensitive to need of environmental protection: Chairman

Coal India chief Pramod Agrawal has said that the coal behemoth is alive and sensitive to the need of environmental protection and the PSU pursues sustainable mining practises persistently. The statement assumes significance especially when when there has been concerns about the global climate change on account of burning of fossil fuels, including coal, which releases green gases into the atmosphere. "Restoration of ecosystem, effective bio-reclamation, effective utilisation of water are followed with equal fervour and importance as production," Agrawal said in a communication. Coal India, he said, has planted close to 2 million saplings during FY'21 over an area of 862 hectares exceeding the target by 16 per cent. "CIL is alive and sensitive to the need of environmental protection and pursues sustainable mining practices peristently," the chairman said in his message posted on the company's website. Satellite surveillance indicates that in 51 major Open cast mines, producing mor

Bitcoin tumbles as China says to crack down on mining, trading activities

The world's largest and most popular cryptocurrency last traded down more than 6% at $38,293 after holding the $40,000 level for most of the Asian and London sessions

Mining, construction equipment industry may grow by 15-20% in 2021: ICRA

ICRA said the mining and construction equipment industry is likely to grow by 15-20 per cent in the calendar year 2021

Copper surges toward $10,000 as bulls swarm in to profits on global rebound

Producers worry that plans to boost mining royalties could stifle investment and make the country less competitive

Metal & mining stocks big laggard on bourses over the long term

BSE Metal up just 164% since Jan '05 against 645% rally in Sensex

National Aluminium Co gets mining lease for Utkal-E coal block in Odisha

National Aluminium Company Ltd (Nalco) on Friday said it has been granted the mining lease of Utkal-E coal block in Odisha. The lease has been granted by the Department of Steel & Mines, Government of Odisha, through a notification issued on April 12. As per the notification, the mining lease of Utkal-E coal block is over an area of 523.73 hectare, the company said in a filing to BSE. The initial capacity of the block is 2 million tonnes per year with a total mineable reserve of approximately 70 million tonne. Nalco has already executed the mining lease for Utkal-D coal block in March 2021. With the grant of Utkal D & E coal blocks, the total mineable coal reserve of the company will be 175 million tonnes, which will be pivotal in meeting the coal requirement of its captive power plant at Angul, Odisha. Sridhar Patra, CMD of the company said the NALCO team is very optimistic on starting the mining operation from Utkal-D coal block in this financial year. "With the grant of ...

Q4 results: Metals & mining firms riding high on the commodity price rally

Exports jumped 126 per cent year-on-year in March to 1.29 MT, compared with a monthly average of 0.65-0.75 MT in recent times

Metal and mining stocks' weight touches two-year high on Nifty50

Market cap of top 10 firms has risen 33% since January

New mining policy by month-end, says Karnataka Minister Murugesh Nirani

The new state mining policy with focus on the requirements of the coastal districts will be released by the end of this month, Karnataka Minister for Mines and Geology Murugesh Nirani has said

NMDC output up 65%, sales jump 51% despite pandemic, inoperative Donimalai

Production and sales in March were the highest ever in the company's history

Govt launches auctions for second tranche of commercial coal mining

In the upcoming auction, 67 coal blocks will be offered

Decoded: Why the industry is unhappy with amendments to mining law

The latest amendments come with the Bharatiya Janata Party-led central government opening up key sec­tors for greater private investment