Metals & Minerals

First auction of its kind: 13 offshore mineral blocks up for bidding

Offers include sand blocks in Kollam, lime mud in Porbandar, and polymetallic reserves near Great Nicobar Island

HZL wins gold block, marks Vedanta group's entry into yellow metal business

Says it has been declared the "preferred bidder" for the Dugocha Gold Block, as confirmed by the Department of Mines and Geology, Rajasthan, via a notification dated November 15

ONGC to soon open 5 wells in KG basin to boost gas, crude output in H2FY25

Of the six announced discoveries so far in FY25, one has been monetised so far

Vedanta Ltd plans to invest around $550 million in AvanStrate Inc

AvanStrate has operations and R&D capabilities across Taiwan, South Korea, and Japan

Vedanta, Oil India, Hindustan Zinc emerge top bidders in mineral auctions

The latest awards follow a second-round auction held after the initial round failed to attract sufficient interest, as the government mandates at least three technically qualified bids per block

Centre introduces new royalty rates ahead of first offshore mineral auction

The Act has established ad valorem royalty rates for key minerals, meaning that rates are based on the mineral's sale value rather than quantity

India remains highly dependent on imports of critical minerals, says report

India remains highly dependent on imports for minerals critical to accelerating its energy transition, with a full reliance on shipping in lithium, cobalt and nickel, according to a report released Monday. The report, published by the Institute for Energy Economics and Financial Analysis (IEEFA), said that India's demand for critical minerals is expected to more than double by 2030, while domestic mining operations may take over a decade to start producing. It stresses that India needs a carefully crafted import strategy to mitigate potential trade risks while balancing international relationships to secure these essential minerals. IEEFA's report examines five critical minerals (and their compounds) cobalt, copper, graphite, lithium and nickel from the perspectives of import dependency, trade dynamics, domestic availability, and global price fluctuations. The findings show that India remains largely import-dependent for these minerals and their compounds, with 100 per cent impor

Lower production cost likely to support Hindustan Zinc's margins

The volume of mined metal for Q2FY25 stood at 256 kilo tonnes or kt (up 2 per cent Y-o-Y, down 2 per cent Q-o-Q), due to higher ore production at Zawar mine offset by lower volume at SK Mine

Mine over matter: Critical mineral policy must address industry needs

Creating a responsive enabling environment for the critical mineral mining industry is the key to ensuring that this vital business does not go the way of previous governments' oil exploration policy

India's zinc consumption to rise to over 2 mn tonnes in next 10 years

India's zinc consumption is estimated to increase to over 2 million tonnes in the next 10 years from the current 1.1 million tonnes, International Zinc Association (IZA) said on Thursday. Speaking on the sidelines of Zinc College, 2024 event here, Andrew Green, Executive Director of IZA, said: "The zinc consumption and demand in India is 1.1 million tonnes (MT), which is higher than the current production in India. ...this is likely to go over 2 MT in the next 10 years. That's the forecast." Zinc College is organised every two years by the International Zinc Association in partnership with a member company. Hindustan Zinc Ltd is the partner of Zinc College 2024. He further said that the global zinc market is around 13.5 million tonnes per annum in terms of primary production. And one of the big differences is that if one looks at the per capita use of zinc, on the global average it's about four to five times higher than what's happening in India. So there are a number of areas wher

Prez Murmu stresses upon increasing focus on minerals for green transition

President Droupadi Murmu on Tuesday stressed upon the need to increase the focus on critical minerals for green transition. Critical minerals, including lithium, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars. They are particularly in demand for the production of batteries for electric cars. Speaking during National Geoscience Awards function, Murmu said the Critical Minerals Mission can provide essential raw material for green transition. For sustainable development, she said, India is committed to net-zero emission. Murmu also said that for making India a developed nation by 2047, there is a need for self reliance on mineral production and mineral exploration. Union Coal and Mines Minister G Kishan Reddy said the government is focusing on making India self reliant in critical and strategic minerals. He further said that 14 critical mineral blocks have been put on sale. The government, he said, is giving priority to offsh

Hindalco: Q1 performance in line with expectations, outlook positive

In FY25, the management expects capex of Rs 5,500-6,000 crore for India operations and capex of $1.4-2.1 billion for Novelis

Provisioned, expect limited impact from SC's ruling, say metal majors

Mining industry hit estimated at Rs 1.5 to Rs 2 trillion, companies to closely watch states for next move

JSW Steel to invest $120 mn in Australian miner for raw material security

The investment will be made through wholly owned subsidiary JSW Steel (Netherlands) BV

Centre unveils rules to boost offshore mineral exploration & production

The Rules come ahead of the Centre's scheduled launch of the inaugural round of offshore mineral auctions

Critical minerals emerged as drivers of modern economy: Coal minister

Coal and mines minister G Kishan Reddy on Thursday said that critical minerals have emerged as drivers of the modern economy and the Centre has ensured the country taps into this global opportunity through the launch of the National Critical Mineral Mission. Union Budget 2024-25 has proposed launching Critical Mineral Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. Its mandate will include technology development, skilled workforce, extended producer responsibility framework, and a suitable financing mechanism. Addressing the national seminar on challenges and opportunities in the mines and minerals sector organised by the Mining, Geological, Metallurgical Institute of India, Reddy said that the government has brought about a paradigm change in the coal and minerals sector, making it transparent and competitive. He elaborated on the government's extensive efforts over the past decade to harness this potential throu

Exports of Chinese rare earth metals to jump ahead of new regulations

China will also establish a information system to track circulation of rare earth products

Govt offers 50% refund to licence holders for critical mineral exploration

The scheme allows optional participation for EL holders granted licences through auction after the scheme's introduction

K'taka, Rajasthan begin exploration licenses' auction for critical minerals

Karnataka and Rajasthan have launched an auction of exploration licenses for critical and deep-seated minerals, according to an official statement on Thursday. Karnataka launched the auction of one block each of gold, copper and lithium while Rajasthan launched the auction of three blocks of rare earth elements, rare metal and potash minerals, it said. According to the Ministry of Mines, the two states launched the auction of exploration licenses on March 6. Exploration licence blocks are being auctioned for the first time in the country, it said. The Mines and Minerals (Development and Regulation) Act, 1957, was amended through the MMDR Amendment Act, 2023, with effect from 17.08.2023, inter alia, to introduce new mineral concession of exploration licence for 29 critical and deep-seated minerals to further boost exploration and mining of critical and deep-seated minerals in the country. Critical and deep-seated minerals such as cobalt, lithium, nickel, gold, silver, and copper are

Analysts hopeful for Hindalco despite Novelis' capex revised upwards

Analysts maintained consensus 'buy' rating on Hindalco though the stock lost over 12 per cent post Q3 on Tuesday, mainly due to the sharp increase in Novelis' capex, and ended flat on Wednesday