Search Result for : Mining And Exploration

The Dollar Business Bureau The Per capital steel consumption in India is still very low, about 60 kg compared to the global average of about 217 kg per capital   “India is on its way to be the world’s third largest crude steel producing country surpassing USA,” said the Minister of Mines & Steel Narendra Singh Tomar. Expressing concern over challenges faced by the Indian steel producers, the minister said that the metal produced in China is sometimes sold at below the production cost. “Chinese steel industry continues to produce and sell steel at extremely low prices and sometimes even below cost of production,” he said, adding, “The attention of countries like China, Japan and South Korea is sharply focused on ...

The Dollar Business Bureau Opening of two additional mines in Maharashtra will add the production capacity of the government-run miner Coal India Limited (CIL) up to 6.75 Million Tonnes (MT) and help the country in curbing its import bill. Union Power Minister Piyush Goyal on Monday inaugurated the two open cast mine projects of the Western Coalfields Limited (WCL) at Dinesh and Yekona in Umred area of Nagpur district. “The two projects would add the production capacity by 6.75 MT, of which around 5.7 MT would be provided to Mahagenco and other power houses and will lead in turn to generation of additional power of 1400 Mega Watts,” said the Minister. The inauguration of these two mines marks fulfillment of the government’s assurance ...

 The Dollar Business Bureau The government has decided to start auctioning of 146 newly identified mining blocks in November this year. A total of 146 mining blocks have been identified by various states and at least 82 of them will be auctioned in the first phase, said Union Minister for Steel and Mines Narendra Singh Tomar. “Centre will start the auction of 80-90 identified mine blocks by November. All the states are participating in the auction process as per their capacity. 146 blocks have been marked by all states, of which 82 blocks will be auctioned in the first phase,” Tomar said at an event of the Associated Chamber of Commerce and Industry (ASSOCHAM) in New Delhi on Tuesday. He said ...

Sai Nikesh | The Dollar Business The year 2014 was a tough fight for the global mining industry with commodity prices down, short-term volatility increasing and initial scorecard for the top 40 global mining companies was mixed, said a PricewaterhouseCoopers’ (PwC) review report on global trends in the mining industry- Mine 2015. Now, the gloves are off for the mining industry with widespread government intervention, internal industry conflicts and rising shareholder activism, noted the report. Responding to above statement in the Indian context, Basant Poddar, Vice-president of Federation of Indian Mineral Industries (FIMI), MD, Mineral Enterprises Ltd., told The Dollar Business that ‘mining industry in India is facing severe challenges due to higher political intervention’. To a question on ‘whether government ...