Expecting a rise in iron ore exports, which would help to lower the current account deficit, the Union government hopes to get relief on iron ore mining in Goa by November. Union Minister for Mines Dinsha Patel hoped that the legal and environmental issues in Goa's iron ore mining will be resolved by October-end or November first week.
Category: Coal & Mining
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Chennai Port: 9 parties keen to turn coal berths into containers
Nine parties have expressed their interest to convert Chennai Port's existing three coal berths at Jawahar Dock (East) into a container terminal. Five parties of the nine have expressed keen interest to develop container terminal and four parties for modernising the terminal. The pre-bid meeting along with site inspection was held recently to elicit response from the prospective clients, say media reports.
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SAIL to raise operational efficiency, save cost
Steel Authority of India (SAIL) would adopt several steps to increase operational efficiency and thereby save Rs 5,000 crore in cost over the next three years. The state-run steel maker said in a statement after a ‘Strategic Confluence on Cost Control and Cost Competitiveness’ at its Management Training Institute in Ranc
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NMDC holds ore prices amidst slack demand
National Mineral Development Corporation (NMDC) decided not to raise the price of iron ore lumps and fines for September considering slackness in demand. Thus, the firm would continue to sell at the current price of Rs 4,200 a tonne of iron ore lump and Rs 2,510 per tonne of fines
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Fall of rupee results in piling up of imported coal at ports
Fall of rupee has resulted in the piling up of coal at Indian ports. Major Indian ports have more than 3.5 million tonne (mt) of coal stockpiles because importers are refusing to take deliveries as the rupeeÂ’s fall against the dollar has made the landed price of the imported coal unexpectedly high.
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Govt reviews documents availability of coal block allocation
The Union Ministry of Coal recently reviewed the efforts being made to locate the documents mentioned in the lists dated September 2 and September 3, 2013, sent by CBI to the Ministry of Coal. The meeting was attended by senior officials of Ministries of Coal, Power, Steel, Department of Industrial Policy & Promotion (DIPP) and representatives from Central Mine Planning & Design Institute Limited (CMPDI) and Coal India Limited (CIL).
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Exporters take advantage of rise in price, rupee weakness
Mining firms are exporting iron ore in a big way on the back of increase in the price of the commodity in the global market and depreciation of rupee. Many miners are exporting iron ore fines and pellets to China as the price of the commodity rose considerably in recent days. Sources indicate that the prices of pellets rose from Rs 6,200 per tonne a month ago to Rs 6,700 per t
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House panel wants govt to discourage ore export
Government must gradually reduce iron ore exports to ensure that adequate quantity of this mineral is available for domestic requirement, a Parliamentary standing committee said. In its report, the Parliamentary Standing Committee on Coal and Steel suggested raising the export duty on iron ore beyond the existing 30 per cent. The report was table
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Setting a new mining agenda, Down Under
Economics waits on political change-and by no means in India alone. While the Indian elections next year are widely expected to change the momentum in economic activity, experts in Australia-the largest investor in mining in the world in absolute terms-anticipate a change in government after the federal election this year
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Coal India to Develop Coal bed Methane Reserves
Union Minister of State for Coal Pratik Prakash Bapu Patil has said that Coal India CIL is pursuing development of coal bed methane (CMM) from its mining areas as it would be beneficial on mine safety as well as environment.