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

By: Ajoy K Das     Updated 14 minutes ago 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... 

India's Goa state to push federal govt to restart mining

By: Reuters     6th August 2018 India's Goa state on Friday passed a resolution asking the state's chief Minister to push the federal government to amend laws to restart mining across the state, a state lawmaker said, months after the country's top court quashed mining permits. The resolution seeks to amend laws in Goa so that... 

Ground water in Vedanta's Indian smelter contains heavy metals – Minister

By: Reuters     23rd July 2018 Ground water in Vedanta Resources' south Indian copper smelter contains heavy metals exceeding limits for drinking water, India's junior Minister for Water Resources, Arjun Ram Meghwal, told lawmakers on Monday. The smelter was shut down in May under order of the Tamil Nadu state government... 

Vedanta Resources to delist from LSE following Agarwal’s planned buyout

By: Marleny Arnoldi     2nd July 2018 Billionaire shareholder Anil Agarwal on Monday announced plans to buy out minority shareholders in Vedanta Resources and to delist the diversified miner from the London Stock Exchange (LSE), sending the company’s stock up 28%.  

Coal India to hike daily supplies even as governments differ on coal shortage

By: Ajoy K Das     30th May 2018 On the directive of the Power Ministry, Coal India Limited (CIL) will supply 1.4-million tons a day to all thermal power plants across the country, even as federal and state governments joust over whether the domestic power sector is facing a dry fuel shortage or not. Soon after taking charge,... 

Vedanta to stick to ops in Indian city despite deadly protests – co executive

By: Reuters     25th May 2018 London-listed Vedanta Resources plans to stick to operations in a southern Indian city despite protests demanding the closure of its copper smelter that killed 13 people this week, a company executive told Reuters on Friday. The company's position comes a day after the state of Tamil Nadu, where... 

India's thermal coal imports rise over 15% in Q1 – trader

By: Reuters     11th May 2018 India's thermal coal imports rose by more than 15 percent in the first three months of 2018, with Indonesia accounting for about three-fifths of total supplies, according to vessel arrival data from Dubai-based coal trader American Fuels & Natural Resources. India's rising coal imports are... 

Coal India output, sales rise as power plants rebuild stockpiles

By: Bloomberg     2nd March 2018 Coal India Limited's shipments rose 4.8% from a year ago and output increased for a seventh straight month as power plants bought up fuel to replenish stockpiles and meet increasing demand for electricity. Sales totaled 49.97-million metric tons in February, according to a stock exchange filing... 

India, Venezuela to deepen hydrocarbon sector collaboration during Maduro’s New Delhi visit

By: Ajoy K Das     28th February 2018 India and Venezuela will push for deeper engagement and joint ventures (JV) in the hydrocarbon sector during Venezuelan President Nicolas Maduro’s visit to New Delhi next month. Despite US sanctions against the Latin American nation, New Delhi is expected to follow its “own balanced and pragmatic... 

India allows private companies to bid for coal mines for commercial production

By: Reuters     20th February 2018 India's Cabinet on Tuesday approved a plan to allow private companies to bid for coal mines for commercial production, a move that would help the country cut imports and boost local production. "This is an important reform and will ensure affordable and reliable supply of coal," Coal Minister... 

India's top court cancels iron-ore mining permits in Goa – petitioners

By: Reuters     7th February 2018 India's Supreme Court has quashed all iron ore mining permits in Goa, one of the country's top producing states for the steel making raw material, an environmental group that petitioned the government to halt the mining said on Wednesday. Mining in the southwestern state of Goa, which produces... 

India to allot Coal India 11 new mines to boost production by two-fifths

By: Reuters     19th January 2018 India will allow Coal India to build 11 new coal mines, the government said, a move that could increase annual production of the world's largest coal miner by two-fifths. The mines, in the eastern states of Odisha, Jharkhand and Bihar, are expected to operate at full capacity by 2022, Coal... 

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... 

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