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India gov't favours petcoke import ban, US would be biggest loser

By: Reuters     11th December 2017 India's government is in favour of banning imports of petroleum coke to curb air pollution, according to a government affidavit filed with its top court, which could be a big blow to US refiners who export heavily to the country. The Supreme Court, which in October banned the use of petroleum... 

India Trade Ministry is said to seek lower tax on diamond miners

By: Bloomberg     7th December 2017 India’s Trade Ministry is seeking a cut in taxes for overseas diamond miners to boost trading in the world’s largest hub for polishing the gems, people with knowledge of the matter said. The Commerce Department in a letter to the Finance Ministry has sought to scrap levies and instead... 

Gold imports by India are said to drop for third straight month

By: Bloomberg     6th December 2017 Gold imports by India, the world’s second-biggest market, are said to have slumped for a third consecutive month in November from a year earlier as supplies remain elevated in the local market and demand is slow. Overseas purchases dropped to 91.5 metric tons, from 111 tons a year ago, according... 

India's US coal imports highest since 2015, seen up further on ban

By: Reuters     20th November 2017 India's coal imports from North America quadrupled to 2.1-million tonnes in October from a year ago, the highest since at least January 2015, Thomson Reuters data showed, and buyers are looking to boost purchases amid a domestic shortage of the fuel. A ban on the use of petroleum coke, a dirtier... 

Coal India signs salary increase deal with workers unions

By: Bloomberg     11th October 2017 Coal India Limited signed an agreement with workers unions to raise salaries of its non-executive staff, ending months of negotiations over the increase that affects pay until 2021. The State-run miner will incur an average annual cost of 56.67-billion rupees ($868-million) because of the rise,... 

Coal India sales outpace production by record to ease stockpiles

By: Bloomberg     2nd August 2017 Coal India’s sales outpaced production by a record last month as the world’s biggest miner continued its efforts to reduce stockpiles. Shipments in July rose 6.9% from the same month a year ago to 44.33-million metric tons, the ninth straight year-on-year gain, while production eased a fourth... 

India, Japan to push for One Belt, One Road counter at AfDB conference 

By: Ajoy K Das     19th May 2017 India will unleash its highest level of economic diplomacy at next week’s African Development Bank (AfDB) conference in the western city of Ahmedabad, with the aim of setting quantifiable targets of international economic and trade cooperation between the continents in a bid to counter China’s... 

Indian gold imports said to almost triple on wedding demand

By: Bloomberg     8th March 2017 Gold imports by India, which competes with China for the role of world’s biggest consumer, are said to have risen almost three-fold in February from a year earlier as jewelers increased stockpiles before the festival and wedding period that starts next month. Shipments jumped 175% to 96.4 metric... 

India to overtake US as world’s biggest coal miner after China

By: Bloomberg     7th October 2016 India is set to surpass the US as the world’s biggest coal producer after China by 2020, as state-miner Coal India Ltd. ramps up output to meet demand from domestic power producers, according to BMI Research. The South Asian nation’s share of world output will increase to 12.7% by 2020 from 9.8%... 

A 100-year-old coal mine in Australia restarts as prices double

By: Bloomberg     14th September 2016 Jindal Steel & Power has ramped up production at a 100-year-old coking coal mine in Australia and is set to resume operations at another in Mozambique as prices for the commodity more than doubled this year. The New Delhi-based company is producing about 100 000 metric tons a month at Wongawilli... 

Coal India monthly output, shipments slump to lowest in 3 years

By: Bloomberg     2nd September 2016 Coal India, the world’s biggest miner of the fuel, reported the lowest production and shipments in three years after heavy rains flooded its mines. Coal production in August dropped 10.4% from a year ago to 32.4-million metric tons and shipments declined 9.6% to 36.72-million tons, both plunging... 

India to seek $15bn of investment to double mining output

By: Bloomberg     29th August 2016 India expects to woo one-trillion rupees ($15-billion) of investment over five years to double mining output and cut mineral imports. The government’s goal is to fast-track exploration, including upfront payments for discovered deposits when the mines are auctioned, Mines Minister Piyush Goyal... 

Strike at world’s biggest coal miner seen blunted by Indian glut

By: Bloomberg     25th August 2016 India’s ample coal stockpiles may blunt the power of unions planning a strike at Coal India, the world’s biggest miner of the fuel. Labor groups including All India Coal Workers’ Federation are demanding the company start early wage talks and begin recruiting to fill vacancies, as well as calling... 

India to assess if Bunder diamond mine viable after Rio’s exit

By: Bloomberg     23rd August 2016 A day after Rio Tinto announced plans to shut the Bunder diamond mine in central India, the Mines Ministry said it will analyse if mining at the site is viable because of environmental concerns. The deposit is located in an ecologically sensitive zone and it’s not clear if the mine can be... 

Rio Tinto to close Bunder diamond project in India to cut costs

By: Bloomberg     22nd August 2016 More than a decade since its discovery, Rio Tinto said Monday it will shut its Bunder diamond mine in central India by the end of the year, as the world’s second-biggest miner seeks to cut costs and conserve cash. Bunder remains a top-class diamond deposit and Rio Tinto will work with the... 

India’s coal Ministry said to seek environment tax on petcoke

By: Bloomberg     11th August 2016 India’s coal ministry, at the urging of state miner Coal India Ltd., is asking the government to levy an environmental tax on a competing fuel in effort to maintain coal’s cost-competitiveness, according to people with knowledge of the matter. Petcoke, an oil-refining byproduct and a coal... 

India expects first uranium shipment from Australia by March

By: Bloomberg     10th August 2016 India is in talks to get its first shipment of uranium from Australia by March, highlighting the south Asian nation’s push to secure supplies of a key component of its clean-energy strategy. India is seeking to buy as much as 1 500 t of the atomic fuel over five years and expects its first... 

Coal India sees rising import costs helping to trim stockpiles

By: Bloomberg     15th July 2016 Coal India, the world’s biggest producer of the fuel, sees rising international prices helping it shrink swollen stockpiles and gain more buyers as domestic customers shun imports in favor of local supplies. Increasing Australian and South African prices have made imports more expensive, which... 

Indian gold imports said to drop for fourth month on slow demand

By: Bloomberg     6th June 2016 Gold imports by India, which vies with China as the world’s top consumer, tumbled for a fourth straight month as a 16% increase in domestic prices since the start of the year kept buyers away, according to a person familiar with provisional Finance Ministry data. Inbound purchases dropped 51% to... 

India ratchets up diplomatic push to secure Iranian gas assets

By: Ajoy K Das     11th January 2016 ndia has initiated a diplomatic push to ensure its toe-hold in the Farzad-B Iranian gas field and to avoid retendering for the Persian Gulf asset. The diplomatic initiative to back ONGC Videsh Limited’s bid to develop the estimated 12.8-trillion cubic foot Farzad-B gas reserve was launched last... 

India proposes African investment sojourn for govt companies

By: Ajoy K Das     1st December 2015 A policy blueprint drawn up by India's Department of Public Enterprises (DPE) has proposed that cash-rich public sector companies set up joint ventures (JVs) in capital scarce African nations, particularly in the natural resources, infrastructure and allied technology sectors. The note prepared... 

India to focus on oil diplomacy at India–Africa Summit Forum

By: Ajoy K Das     7th October 2015 Ahead of the India–Africa Forum Summit to be held in Delhi later this month, the Indian government has directed national oil companies to start implementing a roadmap for increased investments in oil and gas assets on the African continent. Oil diplomacy, aimed at gaining greater access to oil... 

India to push for conclusion of FTAs at forthcoming African trade ministers' summit

By: Ajoy K Das     30th September 2015 India will push to break the deadlock to conclude free trade agreements (FTAs) with various African States during a meeting with African trade ministers in New Delhi in October. According to an official in the Commerce Ministry, a lot of work has been done to fast-track the conclusion of the... 

India to resume preferential trade talks with South Africa

By: Ajoy K Das     4th June 2015 India is readying to go into diplomatic overdrive with South Africa to get the next round of negotiations on a preferential trade agreement (PTA) going by December 2015. According to a senior government official, a series of initiatives have been lined up following Indian External Affairs... 

India douses century-old coal fires as Modi seeks output boost 

By: Reuters     1st June 2015 Prime Minister Narendra Modi is determined to move more than 100 000 people living near coalfields in eastern India to new homes, making it easier to douse underground fires that have burned for a century and mine huge reserves of premium coal. Reviving output from India's nationalised coal... 

AEL manager elected board member of Institute of Quarrying

By: Zandile Mavuso     8th May 2015 Mining explosives manufacturer AEL Mining Services global mining optimisation manager Simon Tose has been elected as a board member of the Institute of Quarrying (IOQ). 

Canada-India uranium tensions thaw as Cameco strikes export deal

By: Henry Lazenby     15th April 2015 Canada on Wednesday unveiled a C$350-million deal to supply more than seven-million pounds of uranium concentrate to India, signalling a new era for the two countries’ bilateral relations. Canadian uranium producer Cameco announced that it had inked a supply agreement with the Department of... 

Key Indian minerals legislation hits stone wall

By: Ajoy K Das     11th March 2015 The Bharatiya Janata Party- (BJP-) led Indian government has hit a stonewall in Parliament that was likely to put a spate of legislative initiatives onto the backburner. The Mine and Minerals Amendment Bill faced the combined resistance of the opposition party in the Rajya Sabha, the upper house... 

India examines coal mine bids amid reports of discrepancies

By: Reuters     2nd March 2015 India's Coal Ministry is re-examining winning bids for three of the 18 mines put up for auction last month, a government source said on Monday, after media reports of problems with the bidding process. A list of successful bidders released by the government on Saturday omitted the three mines... 

Indian opposition parties coalesce in Parliament against land, mining ordinances

By: Ajoy K Das     23rd February 2015 Political opposition is coalescing in India to resist the government’s initiatives to change the governance of land acquisition, coal, and mines and minerals. The government, which brought in legal changes through the issue of various ordinances, would have to get them ratified in Parliament,... 

Pandor emphasises need for resource-rich countries to diversify economies

By: Schalk Burger     16th January 2015 The exploitation of minerals must form the basis of diversified economies in the developing world, said Science and Technology Minister Naledi Pandor on Thursday. “Exports of raw materials and oils often strengthen a currency, rendering other products less competitive and driving them out of... 

Coal shortage looms as 500 000 Indian workers strike

By: Ajoy K Das     7th January 2015 In one of the biggest direct industrial protests in recent times, over 500 000 coal workers across India went on a five-day strike on Tuesday as negotiations failed. Trade union representative said that talks between the unions and government lasted for several hours on Tuesday, with discussions... 

India's No. 2 coal producer to open country's biggest underground mine

By: Reuters     29th September 2014 India's second-largest coal producer Singareni Collieries will open the country's biggest underground mine next month with a capacity of 2.8-million tonnes per year, which should help the firm edge past its output target for this fiscal year. Singareni's better-than-expected output will ensure... 

India's top court scraps nearly all coal blocks allocated since 1993

By: Reuters     24th September 2014 India's top court on Wednesday scrapped all but four of 218 coal blocks allocated by the government over the past two decades, in a tougher-than-expected ruling that sank shares of companies that have invested heavily in projects around the concessions. Most power, steel and cement companies... 

Indian company to rapidly increase production at Mozambique mine

By: Keith Campbell     15th August 2014 Indian State-owned overseas coal mining group International Coal Ventures Limited (ICVL) has reported that it plans to triple production at its soon-to-be acquired Benga mine in Mozambique over the next three years. The company recently agreed a deal with Anglo-Australian group Rio Tinto to buy... 

Mozambique coal projects set to change hands while Maputo ponders aid to sector

By: Keith Campbell     1st August 2014 It has been reported from New Delhi that India’s International Coal Ventures Private Limited (ICVL) was set to buy 65% of the Benga coal operation in the Tete province of Mozambique as well as two other coal projects – Tete East and Zambeze – from the Rio Tinto group for some $108-million. The... 

Rio Tinto reportedly selling Moz coal asset to Indian company

By: Keith Campbell     25th July 2014 It has been reported from New Delhi that India’s International Coal Ventures Private Limited (ICVL) was set to buy 65% of the Benga coal operation in the Tete province of Mozambique as well as two other coal projects – Tete East and Zambeze – from the Rio Tinto group for some $108-million. The... 

Posco’s India project again hit by delays in allocation of iron-ore reserves

By: Ajoy K Das     9th April 2014 South Korean steel producer Posco’s $10-billion Indian project, which has already been delayed by over a decade, was likely to suffer fresh setbacks following a tussle between the federal and provincial governments over the allocation of captive iron-ore reserves. According to officials in the... 

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