E&Y to prepare data system for Indian mineral sector

India’s Mines Ministry has mandated advisory firm Ernst & Young (E&Y) to prepare the detailed project report (DPR) for an online computerised Mining Tenement System (MTS), to bring the functions of the directorates of mining and geology (DMGs)...

Indian iron-ore users, traders to register with government

In a bid to curb illegal mining, the Indian Mines Ministry has directed mining regulator, the Indian Bureau of Mines (IBM), to mandatorily register all traders and end-users of iron-ore. The regulator has some 9 000 mining leases registered,...

Negative growth forecast for mining to drag down Indian GDP

India’s gross domestic product (GDP) growth during 2011/12 would be dragged down to 6.9% compared with the 8.4% achieved in the previous corresponding period, as mining and quarrying sector growth contracted by some 2.2%. Advance GDP growth...

Indian government mulls single iron export agency

India’s Union Cabinet of Ministers were poised to take a call on canalising all high-grade iron-ore exports through a single government owned agency, at a meeting scheduled for next month. The proposal to canalise the export of high grade...

India’s iron-ore reserves insufficient for projected steel production

The present level of iron-ore reserves in India was unlikely to be sufficient to meet project demand by 2019/20, the Indian mineral resource regulator, the Indian Bureau of Mines (IBM) has reported. According to the revised National Steel Policy,...

India sets aside $1.4bn for exploration investment

India’s Mines Ministry has proposed a government spend of $1.4-billion between 2012 and 2017 to plug the technological gap in mineral exploration, thereby increasing mining’s share in the country’s gross domestic product (GDP), which was...

SAIL steps into manganese mining for captive consumption

India’s largest integrated steel producer Steel Authority of India Limited (SAIL) would foray into mining of manganese ore as backward integration for its ferro-alloys manufacturing facilities. Although currently restricted to the extraction of...

India proposes $1.4bn railway investment

Government-owned India Railways was planning a $1.4-billion investment between 2012 and 2017 to construct a 1 744-km dedicated track network to augment the transportation capacity for mining produce, and to achieve efficient inter-connectivity...

Bateman making inroads into India’s minerals sector

South African engineering company Bateman Engineering, through its business unit Bateman India, which is based in Bangalore, is making increasing inroads into the Indian minerals sector, having recently received a number of contract awards for...

Gold price will trend higher - American Precious Metals

The price of gold will trend higher, ultimately reaching a price of $2 000/oz to $3 000/oz over years, says American Precious Metals Advisors MD Jeffrey Nichols. Nichols, who addressed the India International Gold Convention in Goa, says that...

Explorer Obtala to advance Tanzanian projects in ’09 – chair

Aim-listed minerals exploration company Obtala Resources was confident that it would make further progress in developing its assets during 2009, either by itself or through partnerships with other groups. Chairperson Francesco Scolaro told...