Iron ore mining firm NMDC reduced price of higher grade iron ore (lumps) for the fifth time since last October. This time, the state-run miner cut the price of lumps (having iron content of 62 per cent or above) by about 7 per cent for April. However, the company has not changed the price of iron ore fines (lower grade) for the second month in succession
Category: Coal & Mining
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FIMI wants govt to withdraw export duty on bauxite
Reports indicate that the Federation of Indian Mineral Industries (FIMI) requested the central government to withdraw export duty of 10 percent levied on export of low grade bauxite. The industry body argues that the proposed levy may force mine closures in states like Gujarat and Maharashtra and affect the direct and indirect employment opportunities for
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Govt identifies 12 coal projects for speedy clearance
Union Cabinet Secretary Ajit Seth informed that the government identified 12 coal mining projects with an annual coal production of 36.9 million tonne (mn t) for expeditious clearance within a month. These projects involve an investment of Rs 1,347 crore. Meanwhile, it may be noted that the Cabinet Committee on Investment (CCI) streamlined the proc
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Odisha govt may set up panel for e-auction
Media reports indicate that Odisha government
plans to set up a special committee under the steel and mines department to take care of e-auction of iron ore. It is learnt that the proposed committee would carry out the task in association with MSTC. The online auction conducting agency, MSTC is ready with all nece
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Experts want govt to allow pvt participation in coal sector
In order to increase coal production in the country, experts suggest government to end the monopoly of Coal India (CIL) and its subsidiaries in the sector. They suggest the government to amend laws to allow more private participation in the space. They want the government to allow foreign and local mining comp
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FIMI wants govt to encourage investment
Federation of Indian Mineral Industries (FIMI) is an all-India federation registered under the Companies Act, 1956 to promote the interests of mining, mineral processing, metal making and other mineral-based industries
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Ports in Andhra witness decline in ore cargo
The hike in export duty on iron ore, increase in railway freight rates for export cargo of ore and the ban on illegal ore mining affected exports of the raw material. Gangavaram Port exported only 271,000 tonne this year as against 2.1 million tonne last fiscal. Other ports in Andhra Pradesh Visakhapatnam and Kakinada deep water ports lost 30 per cent in iron ore cargo traffic during 2012-13. In 2011-12, Kakinada Port
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Two rail projects likely for coal evacuation by FY17
The Union government on March 19 stated that two rail projects - Tori-Shivpur and Gopalpur-Monaharpur - with investment of Rs 3,045 crore are likely to be completed by the end of 2017 and will facilitate coal evacuation besides pushing up the fuel production.
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Subdued demand, rain hit output of NMDC
Subdued demand and incessant rain affected the sale of iron ore by state-run miner NMDC. Iron ore sales of the company declined to 5.9 million tonne (mn t) in the quarter ending September 2012 compared to 7.6 mn t in the year-ago period. Similarly, in the December 2012 quarter, the firm witnessed decline in ore sales to 5.3 mn t from 6.4 mn t durin
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KIOCL, SAIL in talks over rare-earth project in Kerala
KIOCL is reportedly in discussion with Steel Authority of India (SAIL) to set up a joint venture to explore rare earth minerals in Kerala. The joint venture project may also engage bodies like Kerala State Industrial Development Corporation and Kerala Mineral Development Corporation