R/€ = 16.69 Change: -0.01
R/$ = 14.50 Change: 0.02
Au 1193.66 $/oz Change: 5.30
Pt 797.50 $/oz Change: 2.57

Ajoy K Das

India’s OVL and Sudan seek to settle default payments through fresh talks

20th August 2018 ONGC Videsh Limited (OVL), the overseas arm of India’s national oil, gas exploration and production major ONGC, has agreed with the government of Sudan to work out a mechanism to settle the $400-million outstanding dues of the Indian oil company. The decision to find a solution through... 

Indian mining industry seeks tax overhaul

16th August 2018 The Indian mining industry has called for a complete overhaul and rationalisation of the tax regime, including scrapping the export tax on iron-ore and bauxite. The Indian mining industry has to bear the burden of one of the highest incidence of tax in the world. Mines allocated through... 

India to bring in new mineral policy to align exploration and development projects

15th August 2018 The Indian government is expected to put into play a new mineral policy, possibly before the end of August, aimed at a more investor-friendly alignment of exploration and development projects. The Mines Ministry, which is the driver of the proposed policy changes, is expected to suggest... 

After ditching a billion-ton target, Coal India reviews demand and diversification afresh

13th August 2018 Formally acknowledging that its one-billion ton a year production target by 2020 will not be met, Coal India Limited (CIL) will undertake a complete review of domestic coal demand and diversification of business verticals. India’s largest coal miner will take a fresh view of domestic demand and... 

Indian private thermal power plants critical of CIL e-auctions

8th August 2018 India’s independent power producers (IPPs) have flayed State-run Coal India Limited’s (CIL) move to push higher sales through e-auctions forcing thermal power plants without fuel linkages to resort to high cost dry fuel imports. However, simultaneously, the Power Ministry has asked all thermal... 

New Indian EV battery policy to determine response to Bolivia lithium invite

31st July 2018 An Indian government policy advisory body will publish a policy offering subsidies for lithium-based electric vehicle (EV) battery manufacturing, which will determine the response to an invitation from the Bolivian government for joint ventures (JVs) in lithium-rich Latin American nation. The... 

Lifting of Karnataka iron-ore restrictions brings miners and consumers into fresh conflict

31st July 2018 The Central Empowered Committee (CEC), the body appointed by India’s Supreme Court on all matters related to mining, has recommended lifting restrictions on iron-ore pellet exports from the southern province of Karnataka, bringing to the fore the conflict between producers and consumers of the... 

India’s NMDC bags gold mine through highest bid at auctions

30th July 2018 Indian State-run iron-ore miner NMDC will mark its maiden foray into gold mining, having bagged a gold mine in the southern province of Andhra Pradesh. NDMC was able to secure the rights to develop and produce from the gold mine emerging as the highest bidder at the auction pipping majors like... 

India to shift to revenue sharing contracts at oilfields auction next month

30th July 2018 KIndia will usher in a shift to revenue-sharing contracts and scrap production sharing contracts (PSCs) when the government auctions 60 discovered small oilfields next month. The government will put up for auction 22 fields owned by national oil exploration and production (E&P) major ONGC, five... 

India makes tentative moves towards single tax rate for mining sector

27th July 2018 India’s Steel Ministry has made the first tentative move towards achieving a single unified tax for the mining industry, subsuming the plethora of taxes currently payable by miners. Ministry officials acknowledged that the goal of having a single rate of tax for the mining industry would be... 

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