Mining Sector

3 million getting employment from mining in Rajasthan: CM Bhajanlal Sharma

Rajasthan Chief Minister Bhajanlal Sharma on Monday said the state has immense possibilities in mineral resources and about 30 lakh people are getting direct and indirect employment from mining. He said the mining sector also plays an important role in the state's revenue. So the priority of the state government is that the mineral wealth should be properly exploited and revenue in this sector should be increased. He instructed the officials to work by setting targets. He said the department should speed up the mining exploration work and identify new mining areas and make the auction process transparent. Sharma was addressing the review meeting of the Mines and Petroleum Department. He said the mineral resources should be used for the welfare of the public and transparency should be maintained in the entire process. He instructed the officials to form an assessment committee for various activities of the Mines Department and also organise its regular meetings. He also asked them

Rajasthan govt steps up efforts to attract investment in mining sector

RIPS 2024 and proposed policy changes announced in the state Budget aim to revitalise the sector, the official added

Generative AI triggers rise of Gen Z, millennial mentors in India Inc

Companies tapping younger workforce to bring senior colleagues up to date with GenAI, social media and consumer trends

SC order allowing states to collect past dues to hurt miners: Govt official

India's Supreme Court on Wednesday allowed state governments to collect mining companies' tax dues pending from April 1, 2005

Metal shares fall on adverse SC ruling; Tata Steel, Vedanta drop up to 6%

The Supreme Court ruled in favor of the State governments' authority to levy taxes on mineral rights.

Industrial output grows 4.2% in June on good show by mining, power sectors

India's industrial production grew 4.2 per cent in June this year, mainly due to a good show by the mining and power sectors, according to official data released on Monday. The factory output, measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 4 per cent in June 2023. India's Index of Industrial Production increased by 4.2 per cent in June 2024, an official statement said. The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew 2.6 per cent in June 2024 against 3.5 per cent in the year-ago month. In June this year, mining production rose 10.3 per cent, and power output increased 8.6 per cent. In the April-June quarter of this fiscal, the IIP grew 5.2 per cent compared to 4.7 per cent in the year-ago period.

Mining sector expands by 7.5% in FY24, iron ore production up 7.4%

India's mining sector grew by 7.5 per cent in FY24, with production of iron ore and limestone recording high growth during the year, an official statement said on Friday. For the month of March, the index of mineral production was 1.2 per cent higher year-on-year at 156.1. Production of iron ore was at 277 million metric tonne (MMT) in 2023-24 against 258 MMT in 2022-23, registering a growth of 7.4 per cent. "Showing a similar trend, limestone production has also surpassed the production record of 406.5 MMT achieved in FY 2022-23, increasing by 10.7 per cent to 450 MMT in FY 2023-24," the statement said. The production growth of iron ore and limestone reflects the robust demand conditions in the user industries viz. steel and cement. Coupled with the high growth in aluminium, these growth trends point towards strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery. In the non-ferrous metal sector, the production of primary .

CIL, Vedanta, Adani eye lithium mining rights in Chhattisgarh's Korba

In February 2023, the Geological Survey of India (GSI) discovered lithium in the Katghora tehsil of Korba district

NLC India jumps 5% as ICRA reaffirms rating on NCDs worth Rs 2,000 cr

That apart, NLC India has also participated in the bidding for 20 blocks in the initial phase of the auction for critical mineral blocks in India.

Brokerages bullish on Vedanta's prospects amid concerns over group's debt

Capex in aluminium and zinc should result in incremental cash flow of $1 billion-plus per annum once the plants ramp up fully, which could be in H2FY26

Bihar achieves just 51.78% of mining revenue collection target till Feb 14

The Mines and Geology department of Bihar government has expressed concern over revenue collections falling short of the target and warned officials of strict disciplinary action if they fail to get their act together before the financial year comes to a close. Officials have managed to achieve just Rs 1,896.43 crore of its revenue target of Rs 3,662.39 crore for 2023-24 from the mining sector till February 14, 2024, according to documents. As per the latest review meeting chaired by the Director of Mines and Geology the department has achieved 51.78 per cent of the mining revenue collection target till February 14. In some districts such as Nalanda, Kaimur, Gaya, Aurangabad, Nawada, Jehanabad, Lakhisarai, Jamui, Munger, Kishanganj, Banka, Bhagalpur and Saran the revenue collection is less than 50 per cent, it said. "If the revenue collection in these districts does not increase immediately, strict disciplinary action will be initiated against the concerned officials of these ...

Jindal Steel and Power Q3 results: PAT jumps four-fold to Rs 1,928 cr

The company, which has steel, mining and infrastructure businesses, said its consolidated net profit after tax increased to Rs 1928 crore ($232 million) in the three months to Dec. 31, from Rs 518 cr

India signs an agreement to acquire five lithium mines in Argentina

This is the first ever lithium exploration and mining project by a government company of India

GACL ties up with Vedanta to explore opportunities in caustic-chlorine

Gujarat Alkalies and Chemicals Ltd (GACL) on Tuesday said it has signed an initial pact with Vedanta Aluminium for exploring various business opportunities in the areas of caustic-chlorine and other allied businesses. The Memorandum of Understanding (MoU) envisages to recognize the potential of adding value to the business of both GACL and Vedanta Aluminium by adopting a collaborative approach in common business interests to achieve synergy, GACL said in a regulatory filing. Vedanta Aluminium is a business of Vedanta Ltd. Accordingly, both the companies desire to explore the opportunities for cooperation in greater detail so that the resources could be pooled together in a mutually beneficial manner, it said. "With this MoU, both companies have, in-principle, agreed to jointly explore the business opportunities either in the form of joint venture project or through contractual arrangements of mutual interest," it added. Gujarat-based GACL has a production capacity of 8,52,400 tonn

CCI study on mining sector flags iron ore varied pricing, export issues

The differential pricing of iron ore is likely to create competition concerns and exports of iron ore should also be discouraged, according to a study by fair trade regulator CCI. To ensure fair markets, the competition watchdog initiated a focused study on the mining sector, specifically iron ore in India, and its interconnected industries like steel. The goal was to assess the competition perspective and determine if the iron ore market is functioning appropriately within the broader economic landscape. In its market study on 'Dynamics of Competition in the Mining Sector in India With A Focus On Iron Ore', CCI has also flagged possible issues, with the pricing of iron ore from captive mines. "The allocation of captive mines to some players creates entry barriers in the iron ore and steel sector as entry and successful operation becomes costly for new firms," the Competition Commission of India (CCI) said in a release. As per the study, the differential pricing of iron ore for ..

Odisha earned Rs 50,000 cr revenue from mining in FY 2021-22: Chief secy

Odisha Chief Secretary P K Jena on Wednesday said that the state has earned Rs 50,000 crore revenue from the mining sector in the financial year 2021-22. Addressing the 77th annual technical meeting of Indian Institute of Metals and National Metallurgist Award ceremony here, Jena said the mining sector has changed the financial situation of the state as revenue from the industrial activity increased ten-fold from just Rs 4,900 crore in the 2016-17 fiscal. "Revenue from the mining sector was about Rs 4,900 crore in 2016-17. In 2021-22, it grew to almost Rs 50,000 crore. This is an almost ten-fold increase in five years," Jena said, while highlighting the contribution of the mining sector to the state's economy. He said Odisha recognises the importance of metals and metallurgical infrastructure and is committed to supporting the sector. "Be it the development of new technology or collaboration with research and scientific institutions, we are here to support you," he told the ...

Centre proposes amendment to boost state revenue from mining waste

The existing regulation permitted the leaseholder to dispose of these materials without specifying their intended use

GMDC soars 15% on heavy volumes; stock more-than-doubled in 2 months

CARE Ratings believes that GMDC will continue to maintain its dominant market position in the lignite mining business with a healthy operating performance backed by sales volume growth.

Industrial production rises 3.7% in June against 5.3% in May: NSO data

The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output increased by 3.1 per cent in June 2023

Vedanta slips 9%, nears 52-week low on huge block deals

Till 09:52 am; around 371.7 million equity shares, which represented 5.6 per cent of Vedanta's total equity changed hands on the NSE and BSE