Page 8 - Mining Industry

Four IITs named centres of excellence under critical mineral mission

The government on Friday said it has recognised seven esteemed institutes, including four IITs, as Centres of Excellence under the National Critical Mineral Mission. The move follows the nod accorded on Thursday by the Project Approval and Advisory Committee. The centres of excellence will undertake innovative and transformational research to strengthen and advance the country's science and technology capability in the area of critical minerals. Critical raw materials form the crucial supply chain for emerging sectors of clean energy and mobility transition, in addition to advanced technology and strategic sectors like electronics, defence and space. The other institutes are IIT Bombay, IIT Hyderabad, IIT-ISM Dhanbad, and IIT Roorkee, the mines ministry said in a statement. Each CoE will operate as a consortium, on a hub-and-spoke model, to leverage R&D in critical minerals and pooling the core competence of each constituent under one umbrella. The Ministry had earlier called for

Vedanta Q1 net profit falls 11.7% to ₹3,185 crore on weak LME prices

While revenue rose nearly 6%, lower commodity prices weighed on Vedanta's bottom line; zinc and alumina operations hit record production levels in Q1FY26

India's industrial output growth dips to 10-month low of 1.5% in June

Industrial production growth in June fell to a ten-month low of 1.5%, due to weak mining and electricity output, following a revision in May's growth figure, as per National Statistics Office data

Quartz exports decline 34% in FY25 as China slashes import volumes

After three years of steady growth, India's quartz exports slipped to 916 kt in FY25 due to a sharp drop in demand from China, which had been the top buyer in FY24

Ola Electric, TVS charge up plans to beat rare-earth magnet crunch

Ferrite magnets are now globally considered a viable and cost-effective option due to their easy availability instead of rare-earth materials like neodymium, making it an affordable option

GMDC hits 18-month high. What's driving minerals stock 23% rally in 3 days?

GMDC stock rose 7% on Tuesday, and has more-than-doubled or zoomed 107% from its 52-week low hit on March 3, 2025.

China tightens grip on rare earth sector with silent quota release

China released the initial batch of quotas for the year just last month, without making the usual public announcement. Firms were instructed to keep the figures confidential

SCO summit: EAM Jaishankar flags conflicts, competition, coercion

Addressing his Shanghai Cooperation Organisation (SCO) counterparts in Tianjin, China, Jaishankar urged the grouping to remain true to its founding objective of combating terrorism and extremism

ICRA forecasts muted growth for mining and construction industry in FY26

ICRA predicts 2-5% growth for mining and construction in FY26 due to factors like erratic monsoons, delayed project awards, and rising equipment costs after regulatory changes

China's rare-earth metal exports spike to highest level since 2009

China's exports of rare earths in June climbed to their highest since 2009, according to official data, indicating a push by global buyers to get hold of the materials used to make powerful magnets

Govt proposes to align avg sale price of rock phosphate with global rates

Facing a DAP shortage, the Centre plans to link rock phosphate prices to global rates to encourage domestic production and reduce dependence on imports from Jordan, Morocco, and others

US short-seller Viceroy Research calls Vedanta a 'financial zombie'

Anil Agarwal-led Vedanta group rejected the allegations, calling the report "a malicious combination of selective misinformation and baseless allegations"

No immediate production impact due to rare-earth crunch: JSW MG Motor

Company says parts pipeline remains steady for now as orders placed in April are arriving; rare-earth supply disruption remains under close watch for future impact

BCCL restarts long-shut coking coal mine under private partnership model

First project under the Mine Developer and Operator (MDO) model to produce 52 million tonnes over 25 years

Govt awards seven-star ratings to three mines for green practices

Mines are rated on mine-level impact management, progressive mine closure and restoration, social welfare, and reporting, with three mines receiving seven-star ratings for their exceptional practices

India eyes foreign copper firms with overseas mining links: Govt report

The growing need for concentrate imports necessitates diversification of supply and foreign asset acquisitions, the government document said

Jindal Steel bags 50-year mining lease for Roida-I block in Odisha

Jindal Steel on Friday said it has bagged a 50-year mining lease for the Roida-I iron ore and Manganese block located in Keonjhar district of Odisha. The company has secured a letter of intent (LoI) from the Odisha government for the grant of the said mining lease, Jindal Steel said in a statement. Spread across 104.84 hectares, this mineral resource significantly enhances Jindal Steel's raw material security and underscores the company's commitment to integrated and sustainable steel production in India's mineral-rich eastern corridor, the statement added. "This mining lease is a critical enabler for our long-term vision of self-reliant steel production. With the Roida-I block, we are significantly bolstering our iron ore and manganese supply base, which will ensure operational stability, cost efficiency, and support our growth plans," Pankaj Malhan, Executive Director, Jindal Steel, said. The Roida-I Iron Ore and Manganese Block comes with an environmental clearance capacity of 3

PM Modi's foreign tour aims to boost cooperation in critical minerals

Prime Minister Modi's foreign tour focuses on enhancing cooperation in critical minerals, with key visits to Ghana, Namibia, and Argentina, as India seeks to secure essential resources for its economy

Mineral, metal output continues growth momentum in early FY26

India's production of key minerals and metals like iron ore, bauxite, and copper grew steadily in April-May FY26, signalling robust industrial demand

Hindustan Zinc eyes rare earth minerals, but production may take 5 years

Hindustan Zinc CEO says removing regulatory hurdles could fast-track mineral production in India