Page 2 - Metals & Minerals

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

Interim Budget: Critical minerals supply chain security takes prominence

In her Budget speech, the Finance Minister's emphasis on critical minerals signals a government commitment to achieving self-reliance in the supply of minerals crucial for cutting-edge technology

Enough liquidity to handle capex for growth cycle: JSW Steel Joint MD & CEO

Acharya says that the company is on track with its expansion plan

Tata Steel returns to profit in Q3, posts PAT of Rs 513 cr, revenue dips 3%

On standalone basis, the company's net profit stood at Rs 4,653.04 crore and revenue at Rs 34,681.90 crore

China, in comic strip, warns of 'overseas' threats to its rare earth

It also banned the export of technology to make rare earth magnets, in addition a ban on technology to extract and separate rare earths

Hindustan Zinc Q3FY24 results: Net profit down 6% at Rs 2,028 crore

For Q3FY24, Hindustan Zinc reported a consolidated net profit of Rs 2,028 crore, down 6 per cent from a year ago

Jai Balaji to invest Rs 1,000 crore to boost Durgapur plant capacity

The company, which was once financially stressed, is looking to fund the expansion through internal accruals

Mines ministry identifies offshore blocks in economic zone for exploration

The mines ministry on Thursday said it has identified some offshore blocks for granting operational rights and has sought inputs from the departments concerned to ensure there is no overlapping with other projects. In August, the government amended the Offshore Areas Mineral (Development & Regulation) Act (OAMDR) and introduced a transparent and non-discretionary auction process as the method of allocation of operating rights in the offshore areas. "The ministry has identified some blocks in the exclusive economic zone of India... in this regard, the ministry has sought comments/inputs from concerned ministries/department for availability of the offshore blocks for grant of operating rights to avoid any overlapping with the projects," the ministry said in a statement. To implement the provisions of the amended Act, the ministry framed two sets of draft rules -- Offshore Areas Mineral Auction Rules and Offshore Areas Existence of Mineral Resources Rules. The main features of the ...

Potential bidders set to get three chances in offshore mineral auction

The Ministry of Mines, has also restricted the bid security for 'Production Lease' to Rs 10 crore, contrasting with the Rs 50 crore limit for onshore auctions

India set to acquire five lithium blocks in Argentina spotted by KABIL

"Talks are in the final stages, and a proposal has been submitted to the Cabinet Committee on Economic Affairs for approval," said government officials aware of the development

Chhattisgarh govt tightens norms on utilisation of funds released from DMF

The mineral resources department issued a notification last week for the implementation of the Chhattisgarh District Mineral Foundation Rule-15

India set to launch first-ever offshore mineral auction in Q1CY24

Critical minerals are defined as those that are essential to the economic and national security of a nation but that have a supply chain vulnerable to disruption

Digging deeper: Govt expects production of critical minerals in 4 years

Govt aims to expedite processes to hasten clearances, auction

From Tata Steel to NMDC, big firms weigh bids for critical mineral blocks

Tata Steel, Vedanta, NMDC among mining giants exploring the opportunity

Mines ministry preparing policy for critical minerals to boost supply chain

The Mines Ministry is in the process of preparing a policy for critical minerals which will include a road map for strengthening the supply chain of these essential resources, an official release said on Monday. Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are essential components in many of today's rapidly growing clean energy technologies from wind turbines and electricity networks to electric vehicles. "The strategy will also identify the responsibilities of different ministries of Government of India in ensuring the resilience of the supply chain of critical minerals," the Mines Ministry said in a statement. The ministry is also preparing a strategy for recycling of metals which will help to increase the recycling capability and streamline the recycling process and will also work with partner countries to co-develop mineral processing and raw material manufacturing capabilities. Apart from strengthening the domestic mechanisms, collaborati

Five sectors fuel emissions, half fumble on renewable energy in FY23

The data also revealed a concentration of other critical environmental factors, such as water withdrawal and waste generation

Minerals in Indian Ocean can turn India self-sufficient in nickel, cobalt

Vast mineral deposits in the Indian Ocean can make India self-sufficient in nickel and cobalt, a top official of the International Seabed Authority (ISA) said on Tuesday. Nickel and cobalt are critical ingredients in the lithium-ion batteries used in most electric vehicles, which are zero-emission automobiles. Praising the Indian government's efforts in this direction through its Deep Ocean Mission, Michael W Lodge, ISA's Secretary-General, also exuded confidence that India can become a global leader in deep sea mining. He was speaking to reporters on the sidelines of International Conference on Seabed Mining', held at the Gujarat National Law University in Gandhinagar. India was one of the very first pioneer investors in deep sea mining, starting from the 1980s. In recent years, there has been enormous progress. Under the Deep Ocean Mission, India's progress was phenomenal. India has the potential to become a global leader in deep sea mineral exploration and exploitation, said ...

India needs carefully crafted multi-dimensional mineral policy: Eco Survey

The country needs a carefully crafted multi-dimensional mineral policy to address the issues posed by uneven distribution of rare earth elements, the Economic Survey on Tuesday said. Cobalt, copper, lithium, nickel, and rare earth elements (REEs) are critical for producing electric vehicles and batteries and harnessing solar power and wind energy. "While the demand for critical minerals is set to increase because of the global preference and emphasis towards renewable energy, the global supply chain of the critical minerals is highly concentrated and unevenly distributed. The skewed distribution of the resource poses a supply risk in the face of its enhanced demand. "A carefully crafted multi-dimensional mineral policy would reduce our dependence and address the problems for the future," the Economic Survey 2022-23 said. The country has resources of nickel, cobalt, molybdenum and heavy REEs, but further exploration would be required to evaluate the quantities of their reserves. Th