Page 5 - Mining

After Oct surge, IIP again contracts by 2% in Nov despite festive season

Economists call for continuation of stimulus package in Budget

Singing star Akon enters Congo mining sector in JV with state company

DAKAR (Reuters) - A company led by American-Senegalese R&B singer Akon has signed a deal to finance a copper and cobalt mine in the Democratic Republic of Congo in a joint venture with a state miner, according to a contract published by the mines ministry.

2020, a 'gloom, doom and boom' year for metals amid Covid-19 pandemic

While Covid-19-led lockdowns across the globe destroyed demand in the early part of 2020, a supply cut-driven rally and sharp recovery in the auto sector have emerged as big themes

L&T bags orders for supply of 90 units of Komatsu Mining Equipment

Infrastructure major Larsen & Toubro (L&T) on Monday said it has receivedorders for supply of 90 units of Komatsu Mining Equipment. "The construction and mining equipment business of Larsen a Toubro... hassecured multiple orders for supply of 90 units of Komatsu Mining Equipment from Coal India subsidiaries, leading Infra companies engaged with the coal sector and customers from the cement and iron ore sectors," L&T said in a BSE filing. The company, however, did not disclose the value of the orders received. L&T MD&CEO S N Subrahmanyan said receipt of these orders from customers across various sectors "is a strong indication of the revival taking place in the mining industry, driven by the progressive and supportive policies of the Government of India." The company had recently won an order to supply 46 units of Komatsu Mining Equipment from Tata Steel. Shares of L&T were trading 0.93 per cent higher at Rs 1,159.90 apiece on BSE.

Industrial production grows 0.2% in Sep; turns positive after 6 months

The industrial output grew by 0.2 per cent in September, according to the Index of Industrial Production (IIP) data

Resuming mining in Goa to give much needed fillip to state economy: GCCI

GCCI made a case for the resumption of mining in the state, saying it will give much needed fillip to the state's economy in form royalty and taxes and also prove to be a viable source of livelihood

Vedanta board to meet on Saturday to consider first interim dividend

The total number of shares tendered by Vedanta Ltd's public shareholders fell 7 per cent short of the mandatory minimum 90 per cent for successful delisting.

Stockpiles of unsold iron ore at mine-heads are increasing: FIMI

FIMI has said that stockpiles at mine-heads are increasing and not allowing their export will amount to complete wastage of a material which can earn valuable foreign exchange for the country

NGT directs Rajasthan chief secretary to circulate guidelines on mining

Illegal mining remains a challenge and poses serious threat to environmental protection, the NGT said, directing Rajasthan's Chief Secretary to circulate guidelines on the issue at grass root level

Mining: Major investors anticipate potential in liberalised rules

Mining companies say the plans to introduce an exploration-cum-production regime that the finance minister announced in May for 500 mineral blocks has not come a moment too soon

Procedure for forest clearance subverted, turned farcical, says report

Prime Minister Narendra Modi had announced in June that 41 new coal blocks would be opened for auction to the private sector

Digital mining to be source of transformational change, says FIMI

Miners' body FIMI on Thursday said digitalisation is challenging traditional industry lines and business models and there is a need for adoption of technology and digital mining in India

Mining, construction equipment sector may face 20% volume dip in 2020: Icra

The domestic credit rating agency said it continues to maintain negative outlook for the domestic MCE sector based on the prevailing overall scenario

After 4 months of hand over, none of the 48 mines have begun ops: FIMI

FIMI's Sharma said that it will take some more time for these mines to be operational as most of the allottees who have made unsustainably high bids are now taking time to commence operations

Modi reforms come cropper despite big ideas as bureaucrats lack motivation

Despite big ideas, Modi comes off poorly as a reformer. Because his bureaucrats lack the motivation to push reforms and are beginning to enjoy unbridled power

Critical minerals for critical times

National security requires that we review supply chains for critical-mineral industries to deal with obstacles to international trade

Coal reforms much needed, but statutory implementation hurdles remain

With the abundant inventory within India, there's a clear a need to reduce imports, especially thermal coal, imports of which were around 200 million tonnes last fiscal

Higher bauxite sourcing helps Vedanta cut alumina-making cost by 8%

Alumina production at Lanjigarh was up 16 per cent y-o-y to 476,000 tonnes

CBI takes over investigation in Barak Valley coal scam case of Assam

The case was recommended for a CBI probe by Assam Chief Minister Sarbananda Sonowal in 2018

BPCL valuation too high, Vedanta will evaluate bid: Anil Agarwal

Agarwal said the share price has moved up 40-50 per cent since the time the government announced its plan to sell stake in November last year