Iron Ore Exporters Like NMDC to Benefit as China Opens Up and Export Tariffs Removed

China’s reopening and the Indian government’s removal of export duties on steel, iron ore and pellets is set to benefit domestic iron ore producers like NMDC, allowing them to align domestic prices with global market trends and increase exports. China’s revival from COVID-led lockdowns will boost demand for imported iron ore in 2023. This bodes […]

Tata Steel Mining & JSL to jointly mine chromite in Odisha

Tata Steel Mining Limited said it signed an agreement with Jindal Stainless to jointly mine the chrome ore lying beneath the boundary between the companies’ mines in Sukinda in Odisha’s Jajpur district. Chromium is used to make shiny metallic items, such as stainless steel vessels and chrome-plated auto parts. The companies said the chromite — […]

Closure of Sterlite Copper turns India into a net importer of refined copper

The closure of Vedanta Ltd’s Tuticorin copper smelter in May 2018 has turned India into a net importer of refined copper, according to newly released government data. While India was a net exporter of refined copper to the extent of 3.34 lakh tonnes in the year ended March 2018 (prior to the shut down); the […]

Nalco says facing a ‘coal crisis’ due to govt’s supply prioritization

Government of India’s NALCO, or National Aluminium Company, said its primary Aluminium smelter plant at Angul in Orissa is facing a ‘crisis’ due to the the shortage of coal to produce power. Smelting of alumina into aluminium is one of the most power-hungry processes in industrial production. To supply power to the unit, NALCO had […]

JSW Steel to build Rs 2,100 cr pipeline to import iron ore from Eastern India

JSW Steel Limited said the company’s board has approved a plan to build a pipeline from its Vijayanagar plant in Karnataka to the coast to facilitate the import of cheaper iron ore from Odisha and Eastern India. “This Slurry Pipeline can be set up within 24 months at an estimated cost of Rs 2,100 crores. […]

PSU sells diamonds worth Rs 110 cr via e-auction

India’s premier public sector miner has auctioned rough diamonds worth over Rs 110 cr via e-auction, beating a slowdown in India’s gems and jewellery sector. It is “a significant development amidst the global slowdown in diamond industry,” said mjunction, an e-auction company that also helped with India’s spectrum sales. “The e-auction process has successfully overcome […]

Star rating for Indian mines by next month, satellite monitoring to check illegal activity

The government of India will introduce a star rating for mines by next month and start monitoring mining activity using satellite, said mining secretary Balvinder Kumar said at an ASSOCHAM event held in New Delhi today. “If (mines)y don’t get 4 or 5 star rating they will get 2-3 years to comply. By end of […]