As part of its initiative to boost railway connectivity, the railway ministry plans to spend about Rs 4,000 crore to upgrade rail connectivity to coal mines. The investment, once materialises, would boost fuel supplies to power projects. Many power projects are suffering insufficient coal supply because of lack of rail conn
Category: Coal & Mining
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SGX plans to delay launch of ore futures
In order to give clients and member firms more time to prepare for the new product, the Singapore Exchange plans to postpone the launch of futures contracts including iron ore and freight from February 25 to April 8. SGX said that it cleared a record 18.2 million tonne of iron ore swaps in January trumping an earlier record set i
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Minister justifies export duty on iron ore
Minister of Mines, Dinsha Patel justified the increase in export duty on iron ore saying that such a measure would discourage export of the key raw material and increase domestic availability of the same. Export of iron ore is regulated through fiscal measure by imposition of export duty. Accordingly the central gove
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KIOCL calls off deal to explore Akjoujt asset
Reports suggest that Kudremukh Iron Ore Corporation (KIOCL) called off a deal with Curve Capital Ventures for developing Akjoujt iron ore asset in the Islamic republic of Mauritania, in the West African desert region. KIOCL and the London-based venture capital fund signed a non-binding agreement for developing the Mau
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Ministry for restricted price pooling of coal
Reports suggest that the union coal ministry may restrict the proposed coal price pooling mechanism only to power projects getting commissioned after March 2009. In a note forwarded to the Cabinet Committee on Economic Affairs (CCEA), the coal ministry has proposed the limited application policy for price pooling. The CCEA had
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Vedanta Group eyes mineral assets in India
Vedanta Group would bid for iron ore, coal and oil & gas assets in the country in order to take advantage of the lower cost of production compared to global standards, Anil Agarwal Chairman of the London-listed group said in an interview to a leading media. He said the company would bid for coal assets to feed its power plants that are generating 10,000 mw of power each year
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Vedanta Group eyes mineral assets in India
Vedanta Group would bid for iron ore, coal and oil & gas assets in the country in order to take advantage of the lower cost of production compared to global standards, Anil Agarwal Chairman of the London-listed group said in an interview to a leading media. He said the company would bid for coal assets to feed its power plants that are generating 10,000 mw of power each year
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New coke battery of IISCO plant to benefit bottomline
Narendra Kothari, Chief Executive Officer of IISCO Steel Plant said the new coke oven battery Number 11, which began operation recently, would contribute significantly to the overall bottom line of the company. It may be noted that the Burnpur-based IISCO Steel Plant (ISP), which is part of SAIL, begun trial productions at some of its new units – coke oven batt
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New coke battery of IISCO plant to benefit bottomline
Narendra Kothari, Chief Executive Officer of IISCO Steel Plant said the new coke oven battery Number 11, which began operation recently, would contribute significantly to the overall bottom line of the company. It may be noted that the Burnpur-based IISCO Steel Plant (ISP), which is part of SAIL, begun trial productions at some of its new units – coke oven batt
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Goa govt mulls ban on fresh ore mining
According to an affidavit filed by the Goa government in the Supreme Court, the state government plans to ban completely all fresh excavation of mineral ore. The affidavit, which was filed in response to a public interest litigation (PIL) seeking action against rampant illega