Domestic Iron Ore Prices In China Showed V-Shaped Pattern In ...Thu, 08 Jun 2023 00:00:00 GMT
In May, the average price index of domestic iron ore dropped by 65 yuan/mt, showing a trend of falling at first and then rebounding. In early May, steel mills purchased iron ore as needed and kept raw material stocks at low levels due to poor profits. Steel mills lowered iron ore purchase prices. In mid-to-late May, some steel mills restarted blast furnaces as falling coke prices improved their profits, boosting iron ore demand and prices. Source:
Coal Ministry issues vesting orders for 22 minesThu, 08 Jun 2023 00:00:00 GMT
The mines are also expected to generate annual revenue of Rs 9,831 crore and generate around 71,467 direct and indirect job opportunities, the ministry said in a statement. Additional Coal Secretary M Nagaraju, who is the Nominated Authority of the Ministry of Coal, issued vesting orders for 22 coal mines to successful bidders of coal blocks under commercial coal mine auction in the national capital, it said.
Reforms in coal, mines sector led to increased revenues, production: ...Wed, 07 Jun 2023 00:00:00 GMT
In the last 9 years of the Modi government, there have been various reforms in the whole coal and mining sector. Country is moving towards Atmanirbharta. 2014 onwards, the first-come-first-serve system was totally removed and a transparent auction regime was set in place and by that state got a huge revenue both as far coal and mining sectors are concerned, the minister for coal and mines said.
No need to import thermal coal from next fiscal: Pralhad JoshiWed, 07 Jun 2023 00:00:00 GMT
India plans to stop importing thermal coal in the upcoming fiscal year, according to Minister for Coal and Mines, Pralhad Joshi. The country's domestic availability of coal will be ample enough to meet demand, he added. India is the second-largest importer of coal despite having the fourth-largest coal reserves in the world.
Cabinet approves Rs 2,980 crore for Exploration of Coal and Lignite ...Wed, 07 Jun 2023 00:00:00 GMT
Under this scheme, exploration for coal and lignite is conducted in two broad stages: (i) Promotional (Regional) Exploration and (ii) Detailed Exploration in non-Coal India Limited blocks. The approval will provide an outlay of Rs 1,650 crore for promotional (Regional) exploration and Rs 1,330 crore for detailed drilling in non-CIL areas, the statement said.
State-owned coal firms taking various measures to make mining ...Sun, 04 Jun 2023 00:00:00 GMT
From planting saplings to development of eco-parks, state-owned coal companies are taking various measures to reclaim abandoned mines, infusing multi-core investments, coal and mines minister Pralhad Joshi said.
Coal India raises high grade non-coking coal prices by 8%Wed, 31 May 2023 00:00:00 GMT
Coal India Ltd has increased the prices of non-coking coal, which are used mainly by cement, fertiliser, and sponge iron sectors, by 8%. Higher grade coal, such as G8-G9, is generally used for blending in some plants. However, the thermal power sector mainly uses coal of G11-13 grade to generate electricity, making it unlikely to be affected. The price revision should help Coal India earn an incremental revenue of around INR2,703 crore in FY24. Coal India's production and offtake for FY24 is ...
JSW Group exploring possibilities to acquire coking coal mines ...Sun, 28 May 2023 00:00:00 GMT
Homegrown firm JSW Group is exploring possibilities to acquire coking coal mines in offshore markets. The steel-to-infrastructure group is exploring the mineral assets in countries like Australia and Mozambique etc. Captive coking coal mines will help group company JSW Steel reduce its cost of production for manufacturing steel
Govt extends last date to submit bids under 7th tranche of coal ...Wed, 24 May 2023 00:00:00 GMT
The government has extended the last date to submit bids under the seventh round of commercial coal auctions till June 27, 2023, an official statement said Wednesday. The government had earlier fixed May 30 as the last date to submit bids for the 106 coal mines that were put on the block in the latest round of auctions.
Ukraine: Volynugol illegally mining coal for 4 yearsTue, 23 May 2023 09:33:22 GMT
The State Investigation Bureau has notified of four ex-CEOs of the state enterprise Volynugol of suspicion of activities resulting in a damage of 1.17 billion UAH to the environment and subsoil. The CEO managed the enterprise from 2017 to 2022. In 2018, the enterprise's special allowances for coal extraction at two out of five
JSW eyes coal mines of Australia's BHP Group in potential $1.5-2 ...Mon, 22 May 2023 00:00:00 GMT
JSW Group is reportedly eyeing the purchase of two coking coal mines in Australia from BHP Group in a potential $1.5-2bn deal, to fuel its blast furnaces. JSW at its current capacity needs 18 mt of coking coal per annum. To achieve 25% of integration, the company requires about 4.5 mt of captive coking coal but that kind of supply is not available in India. Hence the hunt for global assets.
SECL's Gevra mine to be largest coal producing mine in Asia: ...Sun, 21 May 2023 00:00:00 GMT
Gevra project of South Eastern Coalfields Ltd (SECL) in Chhattisgarh recently became the first mine in the country to achieve 50 MT of coal production, the official said in a review meeting with the state-owned miner on Saturday. Without sharing any timeline, coal secretary Amrit Lal Meena said, It (Gevra mine) is currently being expanded to achieve 70 MT of production which would make it the largest coal producing mine in Asia, according to a coal ministry statement.
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