Indian steel companies secure new iron-ore reserves

Two Indian steel companies, Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL) would be granted new iron-ore leases in the central Indian province of Rajasthan. SAIL and RINL would be granted leases for 864.6 ha and...

India discovers new platinum reserves

The Geological Survey of India (GSI) has recently established the presence of platinum-group elements (PGE) across India, through the discovery of 19.08-million tons of platinum ore equivalent. The platinum ore reserves have been established in...

KIOCL seeks access to cancelled iron-ore leases

Indian iron-ore miner KIOCL, formerly known as Kudremukh Iron Ore Company Limited, was seeking iron-ore mining leases in the southern Indian province of Karnataka from among the list of lease cancellations drawn up following investigations into...

India’s new mining, mineral laws embroiled in opposition

India’s new legislation governing mines and minerals that would replace 54-year old laws for the sector was increasingly getting mired in opposition from within the government itself. Close on the heels of objections raised by the Corporate...

NMDC seeks Wonarah extension after failing due diligence schedule

After failing to complete a due diligence within the schedule timeframe, Indian miner NMDC Limited was seeking an extension of its exclusive negotiating agreement with ASX- and TSX-listed Minemakers to acquire a 50% stake in its Wonarah phosphate...

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...

NMDC fast-tracks $900m investments during 2012/13

India’s largest iron-ore miner NMDC Limited has decided to fast-track investments worth $900-million during 2012/13 in an effort to better invest the company’s free cash reserves of almost $3.6-billion. The investments would be aimed at...

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 permits NMDC to resume supplies to Japan, S Korea

The Indian government has permitted the country’s largest iron-ore miner NMDC Limited to resume negotiations for long-term agreements with steel mills in Japan and South Korea, as well as to commit to iron-ore exports at least until 2014. The...

India mulls share buy-back of State companies

India’s largest mining companies would suffer a sharp erosion of their current aggregate $14.12-billion free cash reserves once the Indian government goes ahead with it plans to reduce fiscal deficit through a buy-back of shares in these...

Indian steel company hits road blocks in expansion

Indian government owned Rashtriya Ispat Nigam (RINL), popularly known as `Vizag Steel Plant’, has hit roadblocks in its attempts to secure captive iron-ore reserves to achieve raw material security for its expanded capacity. RINL, in the...

Indian consortium to bid for Afghan copper reserves

A consortium of Indian metal companies were readying to bid for the development of copper mines in Afghanistan, as the Afghan government readied to invite tenders during February/March 2012. This comes close on the heels of Indian consortium...