Page 26 - Mining Industry

SC reserves order in mining case, but union minister 'welcomes' verdict

Shripad Naik, minister of state for defence, issued a statement welcoming the Supreme Court 'judgement' on iron ore mines in the state

Letter to BS: Removal of end-use restrictions in mines auction a good step

The government's authority should not be totally compromised. For this, a stance of aggression mixed with caution has to be pursued

Industrial output breaks 3-month downward streak, expands by 1.8% in Nov

The rise in IIP helped pull up cumulative growth in industrial output to 0.6 per cent in the April-November period of FY20

'Soviet Union commanded respect': Vladimir Potanin, Russia's richest man

Mining tycoon Vladimir Potanin is one of Russia's 'original oligarchs' and the richest man in eastern Europe.

Six coal mines marked for end-use under allotment process, says govt

The Coal Ministry on Friday said it is considering allotment of six coal mines that have been marked for end-uses like power, iron and steel and sale of coal. The ministry had started allotment process for 15 coal mines for various specified end-use such as in power and iron & steel sectors. In the allotment process, applications were received in the case of six out of 15 coal mines, the coal ministry said in a release. On the basis of evaluation of applications received in the allotment process, six mines namely Durgapur II Taraimar/Durgapur II Sariya, Mandakini, Utkal C, Sugia Closed Mine and Tokisud North are under consideration for the allotment, the coal ministry said. The mines will add over 5 million tonnes (MT) coal per annum to the country's coal output besides reducing dependence of industries on imported coal, the ministry said. "These mines will add more than 5 MT coal per annum and boost the coal production in the country and reduce the dependence of industries on ...

Software, mining, book printing not part of 15% corporation tax relief: FM

The negative list includes computer software development, mining and printing of books as they are not manufacturing per se, the minister added

Dysfunctional Donimalai mine to weigh on NMDC's near-term prospects

Cheap valuation, high dividend yield only comforting factors for stock

Distress in Karnataka, NMDC gets 'mining lease' breather in Chhattisgarh

Wary of Karnataka development, NMDC started the exercise to avoid any unfavourable precedence to be set that could jeopardise its lease renewals in other states

Great Eastern, Essar seek Bengal govt's approval for shale plans

The development comes after the central government eased the rules on exploration of unconventional hydrocarbons

Domestic demand for mining, construction machines dips 17% in Jan-Aug: Icra

Immediate term demand outlook in the dealer community is also negative

Miners restore a part of rough diamond supply on hopes of festive demand

Industry banking on 60-day festival sales that start with Diwali and encompass Christmas, New Year and Chinese New Year

Iron ore stockpile at mine heads could hurt production post auctions

Inventory at pit-heads of mines lapsing by next March end largely has lower grade fines with Fe content of up to 62%, which has no takers in domestic market

Contractor market in coal mining to grow to Rs 60,000 crore by 2030: KPMG

KPMG has also looked at some of the active mining contractors and compared their financial and technical competencies

An eye in the mine: Hindustan Zinc using drones underground to dig deep

HZL is currently using line-of-sight drones while it waits to try fully autonomous drones by next year

Auctions can't get new mines running, no lease inked for greenfield assets

Before the auction regime, 2,754 mining leases were executed during 2006-10 and 494 were executed between 2010 and 2014, most of which were greenfield

Fearing no response, Odisha govt delays auctioning of bauxite blocks

Across the country, six bauxite blocks have been offered for competitive bidding. All six blocks have been auctioned in Maharashtra, data from the Union mines ministry website showed

Goa Mining Peoples Front seeks Amit Shah's help to resume mining activity

A meeting between the GMPF and Shah was held earlier in January

From auto to banking, grumble of slowdown is getting louder for India Inc

The companies' combined net profit declined by 10.1 per cent yoy during June '19 quarter against 26.2 per cent yoy growth a year ago

Voltas mining equipment division pins hope on Vale to drive growth

Previously, India made up 80 per cent of Voltas' mining equipment business, while the rest came from Africa; today Mozambique accounts for 70 per cent of its revenues from this segment.

Mining in the deep end: Iron ore and manganese miners are staring at mayhem

Leases of miners are going to expire in March 2020 and there is no way the arduous process of auction of mines will complete before the it expire