Chief Correspondent, Commodities, India
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Aug 31, 2015

India seeks SoftBank push for Modi’s solar goal

NEW DELHI (Reuters) – India has closed bids for a third of its target of tendering 15,000 megawatts (MW) of solar projects this fiscal year, a government official said, and is expecting interest from investors such as SoftBank (9984.T: Quote, Profile, Research, Stock Buzz) to lift the industry.

The tenders are part of Prime Minister Narendra Modi’s ambitious plans to raise solar capacity five fold to 100,000 MW by 2022 to meet India’s growing power needs, create jobs and fight climate change without committing to an emission target.

Aug 27, 2015

Vedanta to halve output at alumina refinery, cut jobs

NEW DELHI (Reuters) – Vedanta Ltd(VDAN.NS: Quote, Profile, Research) will halve output at its 1 million tonne-a-year alumina refinery in Odisha state in about two months and cut jobs, a senior executive said, due mainly to a shortage of raw material bauxite and weak world prices.

Aluminium prices are stuck at near six-year lows due to a glut in China and capacity addition in the Middle East and India. Russia’s Rusal, the world’s biggest producer, said on Thursday it expected the metal to remain under pressure for the rest of the year.

Aug 27, 2015

India’s Vedanta to halve output at alumina refinery, cut jobs

NEW DELHI, Aug 27 (Reuters) – India’s Vedanta Ltd
will halve output at its 1 million tonne-a-year alumina refinery
in Odisha state in about two months and cut jobs, a senior
executive said, due mainly to a shortage of raw material bauxite
and weak world prices.

Aluminium prices are stuck at near six-year lows due to a
glut in China and capacity addition in the Middle East and
India. Russia’s Rusal, the world’s biggest producer,
said on Thursday it expected the metal to remain under pressure
for the rest of the year.

Aug 25, 2015

India to auction 20 major iron ore mines to revive industry

NEW DELHI, Aug 25 (Reuters) – India will auction about 20
major iron ore mines this year in its first such sale ever, a
top government official said, as it looks to revive its
corruption-tainted mining industry.

India’s mining sector has been mired in controversy over
illegal allocation of resources. Once the world’s third-biggest
iron ore exporter, the country now imports the steelmaking
ingredient due to a court-led crackdown on illegal mining.

Aug 25, 2015

India to auction 20 major iron ore mines to revive industry – govt official

NEW DELHI (Reuters) – India will auction about 20 major iron ore mines this year in its first such sale ever, a top government official said, as it looks to revive its corruption-tainted mining industry.

India’s mining sector has been mired in controversy over illegal allocation of resources. Once the world’s third-biggest iron ore exporter, the country now imports the steelmaking ingredient due to a court-led crackdown on illegal mining.

Aug 25, 2015

India to auction 20 major iron ore mines to revive industry: government official

NEW DELHI (Reuters) – India will auction about 20 major iron ore mines this year in its first such sale ever, a top government official said, as it looks to revive its corruption-tainted mining industry.

India’s mining sector has been mired in controversy over illegal allocation of resources. Once the world’s third-biggest iron ore exporter, the country now imports the steelmaking ingredient due to a court-led crackdown on illegal mining.

Aug 20, 2015

MMTC makes foray into low-grade iron ore exports

NEW DELHI (Reuters) – India’s biggest trading company MMTC Ltd (MMTC.NS: Quote, Profile, Research) issued a tender on Thursday seeking overseas buyers for iron ore from Goa state, which a company source said marked its entry into the low-grade ore business as mining picks up in the country.

The entry of state-run MMTC, which used to only export high-quality iron ore, could boost shipments of lower grades and coincides with Goa restarting its mining industry.

Aug 20, 2015

India’s top trader MMTC makes foray into low-grade iron ore exports

NEW DELHI, Aug 20 (Reuters) – India’s biggest trading
company MMTC Ltd issued a tender on Thursday seeking
overseas buyers for iron ore from Goa state, which a company
source said marked its entry into the low-grade ore business as
mining picks up in the country.

The entry of state-run MMTC, which used to only export
high-quality iron ore, could boost shipments of lower grades and
coincides with Goa restarting its mining industry.

Aug 20, 2015

Adani in talks with Softbank, Foxconn on $3 billion solar plan

NEW DELHI (Reuters) – Adani Group is in talks with Japan’s Softbank (9984.T: Quote, Profile, Research, Stock Buzz) and Foxconn (2354.TW: Quote, Profile, Research, Stock Buzz), maker of Apple’s iPhone, to secure investment in a $3 billion project to make solar cells and panels in the country, two sources with knowledge of the matter said.

Prime Minister Narendra Modi’s government expects clean energy to yield business worth $160 billion in India in the next five years, based on the country’s power generation targets.

Aug 19, 2015

Exclusive: India’s Adani in talks with Softbank, Foxconn on $3 billion solar plan

NEW DELHI (Reuters) – India’s Adani Group is in talks with Japan’s Softbank (9984.T: Quote, Profile, Research, Stock Buzz) and Foxconn (2354.TW: Quote, Profile, Research, Stock Buzz), maker of Apple’s iPhone, to secure investment in a $3 billion project to make solar cells and panels in the country, two sources with knowledge of the matter said.

Prime Minister Narendra Modi’s government expects clean energy to yield business worth $160 billion in India in the next five years, based on the country’s power generation targets.

    • About Krishna

      "I lead the India commodities team for Reuters in New Delhi. I cover the coal, metals and mining industries with a focus on government policy. Before coming to the capital in April 2013, I headed two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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