Page 2 - Mining Sector

Centre sets timelines to speed up work on auctioned mineral blocks

The amendment sets clear milestones between the issuance of the letter of intent (LoI) and the execution of mining leases, with penalties for delays and incentives for early production

Indian mining firms eye opportunities as South Africa eases regulations

The South African government's move to ease mining regulations and privatisation of infrastructure opens up opportunities for Indian business, according to Nitin Agrawal, Group Chairman of Oza Holdings, which has assets in the mining and manufacturing sectors. Agrawal was addressing a gathering of 36 business leaders from the NPO Young Indians, which is part of the Confederation of Indian Industry (CII). The delegation was in South Africa in the past week as part of the G20 Young Entrepreneurs Alliance. South Africa holds the Presidency of the G20 this year. Indian Consul General in Johannesburg Mahesh Kumar hosted the group for interactions with local business leaders, government representatives and business school leaders. "South Africa is a large and developed economy within Africa. It has very well-established mineral reserves and resources, along with very well-developed infrastructure, be it road, rail, or ports that can handle large volumes of commodities. It has a very good

Rajasthan govt plans new strategy to further raise mining

According to a mines department official, a "concrete strategy", which includes aspects like recovery of dues, is being developed

Hindustan Zinc to expand into uranium mining if govt allows, says CEO

Hindustan Zinc is also looking to begin mining rare earth minerals in India, having won its first such block in the northern state of Uttar Pradesh earlier this year

India, Russia to collaborate on rare earths, critical minerals mining

India and Russia are exploring opportunities in rare earth and critical minerals extraction, underground coal gasification, and creation of modern industrial infrastructure, an official statement said on Wednesday. The issue came up for discussions during the India-Russia Working Group on Modernization and Industrial Cooperation meeting, which was held here under the framework of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation. Critical minerals such as copper, lithium, nickel, cobalt and rare earth are essential raw materials required to fuel the growth of rapidly-growing clean energy technologies and their expanding uses ranging from wind turbines and electricity networks to electric vehicles and battery manufacturing. The commerce and industry ministry said the key focus areas included cooperation in aerospace science and technology, including the establishment of a modernized wind tunnel facility, production of

Rajasthan's small mine, stone associations go on strike; ₹150 crore loss

Both associations have submitted a memorandum to T Ravikant, principal secretary (mines), and demanded a solution to their issues

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

Anil Agarwal unveils 3D strategy to double Vedanta's business size

Vedanta Chairman Anil Agarwal unveils a 3D strategy - demerger, diversification, deleveraging - to double the company's size and unlock value, aiming to create $100-billion businesses across sectors

Schemes planned at various levels to promote permanent magnet manufacturing

The schemes could be under the National Critical Minerals Mission (NCMM), announced in January

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

Rajasthan govt's mining sector push gains momentum after investment summit

The state government's focus can be gauged from the fact that the government aims to increase the sector's contribution to Rajasthan's gross domestic product

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

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

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.

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

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

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

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

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

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.