Mining Industries Correspondent
Krishna's Feed
Mar 26, 2014

JSW Steel sees flat coking coal imports in 2014/15

NEW DELHI (Reuters) – JSW Steel (JSTL.NS: Quote, Profile, Research), India’s No. 3 steel maker, said it expects imports of metallurgical coal to stay flat at 7-8 million tonnes in 2014/15, indicating its mills will continue to run below capacity due to soft demand and a shortage of iron ore.

The company said in December its 10 million-tonne-per-year mill in Karnataka state would not operate at more than 80 percent capacity in the near future as supply of key feedstock iron ore stays weak. It has also slowed plans to nearly triple annual capacity to 40 million tonnes in the next decade.

Mar 26, 2014

India’s JSW Steel sees flat coking coal imports in 2014/15

NEW DELHI, March 26 (Reuters) – JSW Steel, India’s
No. 3 steel maker, said it expects imports of metallurgical coal
to stay flat at 7-8 million tonnes in 2014/15, indicating its
mills will continue to run below capacity due to soft demand and
a shortage of iron ore.

The company said in December its 10 million-tonne-per-year
mill in Karnataka state would not operate at more than 80
percent capacity in the near future as supply of key feedstock
iron ore stays weak. It has also slowed plans to nearly triple
annual capacity to 40 million tonnes in the next decade.

Mar 19, 2014

Jindal to stop buying metallurgical coal from Australia in three months

NEW DELHI (Reuters) – Jindal Steel and Power Ltd(JNSP.NS: Quote, Profile, Research) will stop buying coking coal from Australia in three months from now as its own mines there start shipping, a top company official said, a move that could further soften prices of the commodity.

Recent coking, or metallurgical, coal price settlements by major miners showed a fall in the price of all coal types for the first quarter of 2014, underscoring a weak demand outlook from steelmakers in Asia.

Mar 18, 2014

Sesa Sterlite’s copper smelter to be shut for 22 days – sources

NEW DELHI (Reuters) – India’s No.1 refined copper producer Sesa Sterlite Ltd (SESA.NS: Quote, Profile, Research) will shut its smelter for 22 days starting April 26, two company sources said on Tuesday, in what would be the first maintenance closure in four years and cut supplies to top buyer China.

Sesa Sterlite, a unit of billionaire Anil Agarwal-controlled Vedanta Resources Plc (VED.L: Quote, Profile, Research), produces 30,000 tonnes of refined copper per month and exports half of that to China.

Mar 18, 2014

India Sesa Sterlite’s copper smelter to be shut for 22 days-sources

NEW DELHI, March 18 (Reuters) – India’s No.1 refined copper
producer Sesa Sterlite Ltd will shut its smelter for
22 days starting April 26, two company sources said on Tuesday,
in what would be the first maintenance closure in four years and
cut supplies to top buyer China.

Sesa Sterlite, a unit of billionaire Anil Agarwal-controlled
Vedanta Resources Plc, produces 30,000 tonnes of refined
copper per month and exports half of that to China.

Mar 13, 2014

Coal imports jump 20 percent in Feb as prices dip

NEW DELHI (Reuters) – India’s coal imports jumped 20 percent year-on-year in February to 11.6 million tonnes as prices dipped and the rupee strengthened, data from research firm OreTeam showed, indicating that demand remains strong despite a sharp fall in January.

India’s reliance on foreign coal has grown over the years as local production has failed to grow in line with demand, making the country the world’s third-largest importer of the fuel even as it sits on the fifth-largest reserve.

Mar 13, 2014

India coal imports jump 20 pct in Feb as prices dip-OreTeam

NEW DELHI, March 13 (Reuters) – India’s coal imports jumped
20 percent year-on-year in February to 11.6 million tonnes as
prices dipped and the rupee strengthened, data from research
firm OreTeam showed, indicating that demand remains strong
despite a sharp fall in January.

India’s reliance on foreign coal has grown over the years as
local production has failed to grow in line with demand, making
the country the world’s third-largest importer of the fuel even
as it sits on the fifth-largest reserve.

Mar 11, 2014

Sesa says mining cap may lead to job cuts

NEW DELHI (Reuters) – Metals producer Sesa Sterlite(SESA.NS: Quote, Profile, Research) said it may have to cut jobs if the Supreme Court sets a limit on the amount of iron ore it can mine in Goa when and if it allows mining to restart in what used to be the country’s top exporter.

Goa expects to resume mining before the monsoon that starts in June, its chief minister said last month. A panel appointed by the court is due to give its recommendation on the issue by March 15.

Mar 11, 2014

India’s Sesa says mining cap may lead to job cuts

NEW DELHI, March 11 (Reuters) – Indian metals producer Sesa
Sterlite said it may have to cut jobs if a top court
sets a limit on the amount of iron ore it can mine in the state
of Goa when and if it allows mining to restart in what used to
be the country’s top exporter.

India’s Goa state expects to resume mining before the
monsoon that starts in June, its chief minister said last month.
A panel appointed by the Supreme Court is due to give its
recommendation on the issue by March 15.

Mar 6, 2014

Coal India plans to set up power plant citing insufficient connectivity

PANAJI, India (Reuters) – Coal India Ltd(COAL.NS: Quote, Profile, Research), the world’s largest coal miner, plans to set up a 1.6 gigawatt power plant by 2015/16 near one of its mines from which coal cannot be shipped and sold due to a lack of rail connections, a company executive said.

The company has often said its output would be 300 million tonnes more than the current figure of about 475 million given enough rail tracks to carry the fuel from new and remote mines.

    • About Krishna

      "I have been covering India's metals and mining industries from New Delhi since April Fool’s Day, 2013. Before that I led two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies. I have closely followed the solar and shipping industries and love to write on cricket whenever I can."
      Hometown:
      Agdala, Baihata Chariali, Assam
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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