Page 7 - Mining Industry

Deep sea mystery: 99.999% of Earth's ocean floor still remains unexplored

A new study finds that humans have visually explored just 0.001 per cent of the deep seafloor - leaving vast areas unknown and raising concerns about biodiversity, climate, and deep sea mining

Vedanta Resources proposes to repay $920 million debt in FY26: CFO Goel

Anil Agarwal-led Vedanta Resources Ltd (VRL), as part of its deleveraging exercise, has proposed to repay USD 920-million debt in the current fiscal year and about USD 675 million in the next, a company official said. The company has been gradually deleveraging its balance sheet, improving its capital structure, and lowering its financial costs by tapping bond markets as part of its liquidity management exercise. In a Q4 earnings conference call, Vedanta's Chief Financial Officer Ajay Goel said, "So USD 920 million is a debt repayment to do in the current year. Next year, FY27, it's about USD 675 million." The need for cash at VRL is declining rapidly, led by both deleveraging and refinancing, he said, adding that at the same time, overall cash flow at Vedanta India, given the augmented volume, compressed cost, is much higher. "So overall, we as a group in terms of cash management is historical best position," he explained. Last year, Vedanta firmly established itself as one of th

Vedanta Q4 results: Consolidated net profit rises by 154% to ₹3,483 cr

The mining major's net sales jumped by 13.9 per cent to Rs 40,455 crore in the January-March quarter on a year-on-year basis (YoY)

Vedanta expects demerger to complete by September, says CFO Goel

Anil Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company official. The company had earlier said it has pushed back its demerger by a quarter to June-July. Speaking with PTI, Vedanta CFO Ajay Goel said, "We are on track to finish (the demerger) by the second quarter end." "So, by the end of September, the demerger will reach a conclusion. So, it will be completed," he added. The approval of the demerger proposal will pave the way for the company's various business verticals to become separate entities. The mining firm had last year revised its demerger plan and decided to retain its base metal undertaking within the parent firm. Vedanta had earlier said post-demerger its existing businesses will be structured in six independent companies -- Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and Vedanta Ltd. However, later it revised the plan. Vedanta

Rajasthan govt taps rich mineral reserves to drive economic growth

Rajasthan's intensified focus on mining comes on the back of strong performance by the state's department of mines and geology

BEML hands over India's largest electric rope shovel to Coal India

State-owned BEML on Tuesday announced the official handover of an indigenously developed electric rope shovel to mining giant Coal India. The mining equipment was formally handed over to Northern Coalfields CMD B Sairam in the presence of Coal India CMD PM Prasad and BEML CMD Shantanu Roy, the company said in a statement. "In a major leap for India's mining sector and a powerful stride towards the government's Aatmanirbhar Bharat mission, BEML Ltd has launched the country's biggest indigenously designed and developed electric rope shovel -- BRS21," it said. The BRS21 is a high-capacity, electric rope shovel purpose-built for large-scale overburden removal in open cast mining operations. With an operating weight of 720 tonnes and a 21 cubic metre bottom dump bucket, it ranks among the most capable shovels globally. "The successful development of this colossal mining equipment by BEML in just 24 months speaks volumes of our engineering strength and collective resolve. It's not just

Metals tycoon Agarwal seeks mining reboot amid debt overhaul, Saudi push

Vedanta is also expanding the gamut of its operations by winning rights to mine critical minerals like nickel, chromium, platinum, and cobalt in India through November auctions

Coal India gains 2% as arm SECL inks ₹7,040 crore coal mining pact

Coal India stock was quoting at ₹402.80, up 0.99 per cent from Thursday, April 17 close of ₹398.85

Automobiles to pharma & healthcare: Earnings winter to persist in Q4FY25

Past champions such as banks, oil & gas and automotive seen as laggards

Centre plans new unit to boost DMF, PMKKKY efficiency in mining regions

The mines ministry plans to set up a program management unit to facilitate the development of people affected by mining-related activities and effective coordination with the states for smooth implementation of Pradhan Mantri Khanij Kshetra Kalyan Yojana. The government in 2025 launched the Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY) aimed at the welfare of areas and people affected by mining-related operations, using the funds generated by District Mineral Foundations (DMFs) from the funds accruing to them in terms of the mining act. Accordingly, the Centre directed the concerned State Governments to incorporate the PMKKKY into the rules framed by them for the DMF and to implement the said Scheme. The mines ministry said on its website that it is taking many initiatives to improve the efficiency and effectiveness of District Mineral Foundation/ Pradhan Mantri Khanij Kshetra Kalyan Yojana. "Ministry of Mines plans to take services of a consulting firm to set up a Program .

Coal India's payment to govt drops, yet big support for miner states

For the financial year 2024-25, CIL paid ₹60,959.52 crore to the government exchequer. This was a small increase of 1.2 per cent compared to ₹60,197.8 crore paid in 2023-24

Parl panel expresses concern over diversion of DMF's fund in several states

A parliamentary panel has expressed concerns over several cases of diversion of funds of District Mineral Foundation (DMF) in several states for purposes other than welfare of mining-affected areas. The DMF is a non-profit statutory 'fund' for every Indian district affected by mining related operations. It is aligned with the Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY), to ensure effective and equitable utilisation of these funds to address the challenges of communities inhabiting the mining regions and for their sustainable development. The panel is "concerned to note that there are many cases of diversion of the funds of DMFs or purposes other than the stipulated ones, in many States as informed by the Ministry of Mines. Such diversions, the Committee notes, took place in the form of transfers to State treasury/consolidated fund of the State or State level funds (by whatever name called) or Chief Minister's Relief Fund or other funds or schemes", said the Standing Committe

BEML announces launch of indigenously designed Motor Grader BG 1205

BEML Ltd, one of India's leading mining and construction equipment manufacturers, on Saturday announced the launch of its indigenously designed and developed Motor Grader BG 1205 at its Mysuru complex. This the company said is a significant milestone that underscores BEML's unwavering commitment to self-reliance and aligns seamlessly with the Government of India's Atmanirbhar Bharat vision. "Equipped with an impressive 24-foot blade, the BG 1205 has been meticulously crafted to meet the evolving demands of the mining sector. Designed especially for high-intensity operations in regions such as SECL Bilaspur and Northern Coalfields Limited (NCL) in Singrauli, this state-of-the-art equipment is tailored to support the increasing need for efficient road-laying machinery capable of handling high-capacity dumpers," the BEML Ltd said, in a statement. With a focus on superior performance, the BG 1205 is set to enhance productivity, ensure operational efficiency, and contribute significantly

Moment to unleash new generation of entrepreneurs, says Anil Agarwal

Despite India's immense natural wealth, he pointed out that 60 per cent of the country's imports are driven by natural resources such as oil, gas, gold, copper, and diamonds

Smart mining feeds tech's hunger for rare earths and critical minerals

Mining's next phase of growth is being shaped by the very technologies that use what it digs out from the Earth. Technology is making mining greener and safer

Kerala fishermen express concerns over Centre's deep-sea mining proposal

"They can bring in the navy or even the army, but we will not allow sea mining off our shore. This is a matter of life and death for us, and we will not let anyone take away our livelihood," Robin said passionately about their stance on the Union government's proposed deep-sea sand mining. The fishermen in Kerala have already launched several protests against the proposed plan to open up the sea to private mining companies as part of the Union Government's 'Blue Economy' initiative. All the fishermen's associations stand united in their protests against this proposal, alleging that it would bring an end to the fisheries sector in the country, not only in the Arabian Sea but also in the Bay of Bengal. "The mining, according to the scientific report we have, can disturb the seabed and completely destroy fish spawning habitats. It can also release poisonous gases trapped on the deep-sea floor, causing severe environmental issues," Kerala Minister for Fisheries, Saji Cherian, told PTI.

Chhattisgarh govt expands mineral exploration with 13 new projects

Initial surveys estimate reserves of 283 million tonnes (mt) of limestone, 67 mt of iron ore, and 300,000 tonnes of bauxite, a senior official of state mineral resources department said

Indian firms seek technical help from Dutch Royal IHC for deep-sea mining

Unlike countries like China, India is not yet prepared to extract minerals from the ocean's depths due to a lack of seabed mining expertise, experts say

Odisha Crime Branch arrests BJD leader Raja Chakra in mining scam

The Crime Branch of Odisha Police on Thursday arrested Biju Yuva Janata Dal state vice-president Soumya Shankar Chakra, alias Raja Chakra, in connection with an alleged multi-crore mining and transport scam. The Orissa High Court on Wednesday rejected Chakra's plea seeking interim protection from arrest. Additional DGP, CID, Crime Branch Vinaytosh Mishra said Chakra was interrogated and asked to clarify his role in the scam and then he was arrested. The Economic Offence Wing of the Crime Branch had earlier in February 2025 registered a case based on a complaint of alleged irregularity in the functioning of Gandhamardan Loading (GML) Agency and a transporting cooperative society limited and misappropriation of funds of the cooperative society in the mineral-rich Keonjhar district. The cooperative society has been created for the welfare of villagers affected by the mining activities. "In the course of the investigation, it was found that the loading agency had earned around Rs 185

Lagging behind in mineral geopolitics: India needs a rare earth strategy

The pursuit of minerals and fuel resources remains the driving force behind geopolitics even after the end of old-style colonialism