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Mining Sector

Budget 2025: FM calls for mining sector reforms, says govt to frame policy

The government on Saturday said it will launch a policy for recovery of critical minerals from tailings or by-products of mining. In her Budget speech, Union Finance Minister Nirmala Sitharaman also said mining sector reforms, including those for minor minerals, will be encouraged through the sharing of best practices and the institution of a State Mining Index. She said, "A policy for recovery of critical minerals from tailings will be brought out." Sitharaman tabled the Union Budget in the Lok Sabha on Saturday. Additionally, the finance minister announced the removal of import duty on 12 critical minerals, cobalt powder and waste, lithium-ion battery scrap, lead and zinc. The move, she said, would facilitate securing their availability for manufacturing in India and promote more jobs. In the last budget, the government had scrapped customs duty on 25 critical minerals that are not available in the domestic market. She had also reduced basic customs duty on two other such mine

Budget 2025: FM calls for mining sector reforms, says govt to frame policy
Updated On : 01 Feb 2025 | 6:19 PM IST

Vedanta Resources appoints Deshnee Naidoo as first CEO to lead growth phase

Vedanta Resources Ltd (VRL), the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, on Wednesday announced the appointment of Deshnee Naidoo as its first Chief Executive Officer (CEO) to spearhead its fresh growth phase. Her appointment comes at a time when Vedanta Resources Ltd's Indian subsidiary, Vedanta Ltd, is demerging its businesses to unlock significant value for stakeholders. This marks Naidoo's second stint with the company. In her previous assignment, Naidoo was CEO of nickel and copper firm Vale Base Metals. Naidoo's appointment is with effect from January 20, 2025, the company said in a statement. She was with Vedanta from 2014 to 2020 and served in senior leadership roles including CEO of Africa Base Metals and CEO of Vedanta Zinc International. Deshnee brings with her over two decades of experience in the resources business across different geographies and diversified metals and minerals. "Deshnee joins us at an exciting phase in our journey...we are now

Vedanta Resources appoints Deshnee Naidoo as first CEO to lead growth phase
Updated On : 29 Jan 2025 | 11:36 PM IST

Global mining sector needs $1.7 trn funding to transition energy: HZL cheif

The global mining sector requires an estimated investment of USD 1.7 trillion to facilitate energy transition, Hindustan Zinc's (HZL)Chairperson Priya Agarwal Hebbar has said. "For the energy transition to happen successfully...we need $1.7 trillion in mining investment. We see an opportunity in India. India is in a sweet spot where it can thrive in this sector," she said. At the recently held World Economic Forum in Davos, Hebbar addressed the critical topics surrounding the global energy transition on multiple occasions. She spoke about the importance of critical minerals, the future of climate action strategies, embedding sustainability across the value chain, prioritising women's health and driving India's workforce revolution. She was amongst the few Indian women entrepreneurs representing Vedanta and Hindustan Zinc at the esteemed forum, where industry stalwarts, political leaders, academicians and scholars create dialogues with the mission to improve the state of the world.

Global mining sector needs $1.7 trn funding to transition energy: HZL cheif
Updated On : 27 Jan 2025 | 5:42 PM IST

NMDC to extract diamonds worth $3.4 mn from mine near tiger reserve in MP

NMDC, which has not yet started new rounds of mining, is focusing on extracting and processing diamonds from ore stockpiles at its Panna mine

NMDC to extract diamonds worth $3.4 mn from mine near tiger reserve in MP
Updated On : 20 Jan 2025 | 2:38 PM IST

3 million getting employment from mining in Rajasthan: CM Bhajanlal Sharma

Rajasthan Chief Minister Bhajanlal Sharma on Monday said the state has immense possibilities in mineral resources and about 30 lakh people are getting direct and indirect employment from mining. He said the mining sector also plays an important role in the state's revenue. So the priority of the state government is that the mineral wealth should be properly exploited and revenue in this sector should be increased. He instructed the officials to work by setting targets. He said the department should speed up the mining exploration work and identify new mining areas and make the auction process transparent. Sharma was addressing the review meeting of the Mines and Petroleum Department. He said the mineral resources should be used for the welfare of the public and transparency should be maintained in the entire process. He instructed the officials to form an assessment committee for various activities of the Mines Department and also organise its regular meetings. He also asked them

3 million getting employment from mining in Rajasthan: CM Bhajanlal Sharma
Updated On : 03 Dec 2024 | 7:11 AM IST

Rajasthan govt steps up efforts to attract investment in mining sector

RIPS 2024 and proposed policy changes announced in the state Budget aim to revitalise the sector, the official added

Rajasthan govt steps up efforts to attract investment in mining sector
Updated On : 04 Nov 2024 | 6:20 PM IST

Generative AI triggers rise of Gen Z, millennial mentors in India Inc

Companies tapping younger workforce to bring senior colleagues up to date with GenAI, social media and consumer trends

Generative AI triggers rise of Gen Z, millennial mentors in India Inc
Updated On : 04 Sep 2024 | 11:16 PM IST

SC order allowing states to collect past dues to hurt miners: Govt official

India's Supreme Court on Wednesday allowed state governments to collect mining companies' tax dues pending from April 1, 2005

SC order allowing states to collect past dues to hurt miners: Govt official
Updated On : 14 Aug 2024 | 1:40 PM IST

Metal shares fall on adverse SC ruling; Tata Steel, Vedanta drop up to 6%

The Supreme Court ruled in favor of the State governments' authority to levy taxes on mineral rights.

Metal shares fall on adverse SC ruling; Tata Steel, Vedanta drop up to 6%
Updated On : 14 Aug 2024 | 1:12 PM IST

Industrial output grows 4.2% in June on good show by mining, power sectors

India's industrial production grew 4.2 per cent in June this year, mainly due to a good show by the mining and power sectors, according to official data released on Monday. The factory output, measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 4 per cent in June 2023. India's Index of Industrial Production increased by 4.2 per cent in June 2024, an official statement said. The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew 2.6 per cent in June 2024 against 3.5 per cent in the year-ago month. In June this year, mining production rose 10.3 per cent, and power output increased 8.6 per cent. In the April-June quarter of this fiscal, the IIP grew 5.2 per cent compared to 4.7 per cent in the year-ago period.

Industrial output grows 4.2% in June on good show by mining, power sectors
Updated On : 12 Aug 2024 | 5:55 PM IST

Mining sector expands by 7.5% in FY24, iron ore production up 7.4%

India's mining sector grew by 7.5 per cent in FY24, with production of iron ore and limestone recording high growth during the year, an official statement said on Friday. For the month of March, the index of mineral production was 1.2 per cent higher year-on-year at 156.1. Production of iron ore was at 277 million metric tonne (MMT) in 2023-24 against 258 MMT in 2022-23, registering a growth of 7.4 per cent. "Showing a similar trend, limestone production has also surpassed the production record of 406.5 MMT achieved in FY 2022-23, increasing by 10.7 per cent to 450 MMT in FY 2023-24," the statement said. The production growth of iron ore and limestone reflects the robust demand conditions in the user industries viz. steel and cement. Coupled with the high growth in aluminium, these growth trends point towards strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery. In the non-ferrous metal sector, the production of primary .

Mining sector expands by 7.5% in FY24, iron ore production up 7.4%
Updated On : 03 May 2024 | 7:51 PM IST

CIL, Vedanta, Adani eye lithium mining rights in Chhattisgarh's Korba

In February 2023, the Geological Survey of India (GSI) discovered lithium in the Katghora tehsil of Korba district

CIL, Vedanta, Adani eye lithium mining rights in Chhattisgarh's Korba
Updated On : 11 Mar 2024 | 4:01 PM IST

NLC India jumps 5% as ICRA reaffirms rating on NCDs worth Rs 2,000 cr

That apart, NLC India has also participated in the bidding for 20 blocks in the initial phase of the auction for critical mineral blocks in India.

NLC India jumps 5% as ICRA reaffirms rating on NCDs worth Rs 2,000 cr
Updated On : 02 Mar 2024 | 10:01 AM IST

Brokerages bullish on Vedanta's prospects amid concerns over group's debt

Capex in aluminium and zinc should result in incremental cash flow of $1 billion-plus per annum once the plants ramp up fully, which could be in H2FY26

Brokerages bullish on Vedanta's prospects amid concerns over group's debt
Updated On : 28 Feb 2024 | 11:33 PM IST

Bihar achieves just 51.78% of mining revenue collection target till Feb 14

The Mines and Geology department of Bihar government has expressed concern over revenue collections falling short of the target and warned officials of strict disciplinary action if they fail to get their act together before the financial year comes to a close. Officials have managed to achieve just Rs 1,896.43 crore of its revenue target of Rs 3,662.39 crore for 2023-24 from the mining sector till February 14, 2024, according to documents. As per the latest review meeting chaired by the Director of Mines and Geology the department has achieved 51.78 per cent of the mining revenue collection target till February 14. In some districts such as Nalanda, Kaimur, Gaya, Aurangabad, Nawada, Jehanabad, Lakhisarai, Jamui, Munger, Kishanganj, Banka, Bhagalpur and Saran the revenue collection is less than 50 per cent, it said. "If the revenue collection in these districts does not increase immediately, strict disciplinary action will be initiated against the concerned officials of these ...

Bihar achieves just 51.78% of mining revenue collection target till Feb 14
Updated On : 22 Feb 2024 | 10:29 AM IST

Jindal Steel and Power Q3 results: PAT jumps four-fold to Rs 1,928 cr

The company, which has steel, mining and infrastructure businesses, said its consolidated net profit after tax increased to Rs 1928 crore ($232 million) in the three months to Dec. 31, from Rs 518 cr

Jindal Steel and Power Q3 results: PAT jumps four-fold to Rs 1,928 cr
Updated On : 31 Jan 2024 | 10:01 PM IST

India signs an agreement to acquire five lithium mines in Argentina

This is the first ever lithium exploration and mining project by a government company of India

India signs an agreement to acquire five lithium mines in Argentina
Updated On : 16 Jan 2024 | 7:54 AM IST

GACL ties up with Vedanta to explore opportunities in caustic-chlorine

Gujarat Alkalies and Chemicals Ltd (GACL) on Tuesday said it has signed an initial pact with Vedanta Aluminium for exploring various business opportunities in the areas of caustic-chlorine and other allied businesses. The Memorandum of Understanding (MoU) envisages to recognize the potential of adding value to the business of both GACL and Vedanta Aluminium by adopting a collaborative approach in common business interests to achieve synergy, GACL said in a regulatory filing. Vedanta Aluminium is a business of Vedanta Ltd. Accordingly, both the companies desire to explore the opportunities for cooperation in greater detail so that the resources could be pooled together in a mutually beneficial manner, it said. "With this MoU, both companies have, in-principle, agreed to jointly explore the business opportunities either in the form of joint venture project or through contractual arrangements of mutual interest," it added. Gujarat-based GACL has a production capacity of 8,52,400 tonn

GACL ties up with Vedanta to explore opportunities in caustic-chlorine
Updated On : 02 Jan 2024 | 3:39 PM IST

CCI study on mining sector flags iron ore varied pricing, export issues

The differential pricing of iron ore is likely to create competition concerns and exports of iron ore should also be discouraged, according to a study by fair trade regulator CCI. To ensure fair markets, the competition watchdog initiated a focused study on the mining sector, specifically iron ore in India, and its interconnected industries like steel. The goal was to assess the competition perspective and determine if the iron ore market is functioning appropriately within the broader economic landscape. In its market study on 'Dynamics of Competition in the Mining Sector in India With A Focus On Iron Ore', CCI has also flagged possible issues, with the pricing of iron ore from captive mines. "The allocation of captive mines to some players creates entry barriers in the iron ore and steel sector as entry and successful operation becomes costly for new firms," the Competition Commission of India (CCI) said in a release. As per the study, the differential pricing of iron ore for ..

CCI study on mining sector flags iron ore varied pricing, export issues
Updated On : 01 Jan 2024 | 11:43 PM IST

Odisha earned Rs 50,000 cr revenue from mining in FY 2021-22: Chief secy

Odisha Chief Secretary P K Jena on Wednesday said that the state has earned Rs 50,000 crore revenue from the mining sector in the financial year 2021-22. Addressing the 77th annual technical meeting of Indian Institute of Metals and National Metallurgist Award ceremony here, Jena said the mining sector has changed the financial situation of the state as revenue from the industrial activity increased ten-fold from just Rs 4,900 crore in the 2016-17 fiscal. "Revenue from the mining sector was about Rs 4,900 crore in 2016-17. In 2021-22, it grew to almost Rs 50,000 crore. This is an almost ten-fold increase in five years," Jena said, while highlighting the contribution of the mining sector to the state's economy. He said Odisha recognises the importance of metals and metallurgical infrastructure and is committed to supporting the sector. "Be it the development of new technology or collaboration with research and scientific institutions, we are here to support you," he told the ...

Odisha earned Rs 50,000 cr revenue from mining in FY 2021-22: Chief secy
Updated On : 22 Nov 2023 | 11:35 PM IST