Mining Industries Correspondent
Krishna's Feed
Oct 22, 2014

Modi takes first bite at coal to end India’s power mess

NEW DELHI, Oct 22 (Reuters) – India could allow commercial
coal mining by foreign companies if they set up units in the
country, opening the door for global giants like Rio Tinto
to access the world’s fifth-largest coal reserves, a
source familiar with the matter said.

Prime Minister Narendra Modi’s decision to open commercial
coal mining to private players is a key step towards bringing
order to the country’s chaotic power industry and ending the
chronic blackouts that impede its economic rise.

Oct 20, 2014

PM Modi steps up economic reforms, eyes privatisation

NEW DELHI (Reuters) – India promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls.

Using an executive order, the cabinet agreed to allow private Indian companies to mine and sell coal at an unspecified future date, Finance Minister Arun Jaitley said. That sets the stage for the biggest liberalisation of the industry in more than 40 years.

Oct 20, 2014

India’s Modi steps up economic reforms, eyes privatisation

NEW DELHI, Oct 20 (Reuters) – India promised on Monday to
open up the coal industry to private players and moved closer to
selling a stake in a state-run oil company, as Prime Minister
Narendra Modi picked up the pace on economic reform days after
relaxing fuel price controls.

Using an executive order, the cabinet agreed to allow
private Indian companies to mine and sell coal at an unspecified
future date, Finance Minister Arun Jaitley said. That sets the
stage for the biggest liberalisation of the industry in more
than 40 years.

Oct 10, 2014

India’s JSW Steel ‘very close’ to deal for London Mining: source

By Karen Rebelo and Krishna N Das

(Reuters) – India’s third-largest steelmaker JSW Steel (JSTL.NS: Quote, Profile, Research, Stock Buzz) is nearing a deal to buy embattled West African iron ore miner London Mining (LOND.L: Quote, Profile, Research, Stock Buzz), a source with direct knowledge of the negotiations said on Friday.

“JSW is very close to a deal. It is almost 100 percent done,” the source said.

Oct 10, 2014

Severe coal shortage at power plants hits industries

NEW DELHI (Reuters) – A power plant in New Delhi is among 37 across India that have either exhausted their coal or have less than four days’ supply, a shortage that has forced some states to ration power for industries and homes.

Many states have been hit by a severe power deficit which has dealt a blow to small-scale factories that produce everything from steel to textiles and cannot afford alternatives such as diesel generators.

Oct 10, 2014

Severe coal shortage at Indian power plants hits industries

NEW DELHI, Oct 10 (Reuters) – A power plant in India’s
capital New Delhi is among 37 across the country that have
either exhausted their coal or have less than four days’ supply,
a shortage that has forced some states to ration power for
industries and homes.

Many states have been hit by a severe power deficit which
has dealt a blow to small-scale factories that produce
everything from steel to textiles and cannot afford alternatives
such as diesel generators.

Oct 8, 2014

India needs to scrap iron ore export tax as prices sink-miner Sesa

NEW DELHI/SINGAPORE, Oct 8 (Reuters) – India needs to
swiftly remove a tax on iron ore exports, the country’s top
private miner of the commodity said, calling the duty an
“economic barrier” in the face of falling global prices.

The country’s iron ore shipments have already slowed to a
trickle after a ban on mining in key producing states, with a 30
percent tax on exports making it even more difficult to sell to
a world market where prices have sunk 40 percent this year.

Oct 6, 2014

Steelmaker JSW in talks to buy London Mining

NEW DELHI/BANGALORE (Reuters) – India’s third-largest steelmaker, JSW Steel Ltd, is in talks to buy embattled West African iron ore miner London Mining, showing Indian firms’ growing appetite to secure raw materials abroad, sources familiar with the matter said.

London Mining was one of several junior miners set up in West Africa during the boom years on the back of rising demand for iron ore, hoping to turn the region into a new producing frontier to compete with Australia and Brazil. Instead, they have battled infrastructure woes, high costs and low prices.

Oct 6, 2014

Indian steelmaker JSW in talks to buy London Mining

NEW DELHI/BANGALORE, Oct 6 (Reuters) – India’s third-largest
steelmaker, JSW Steel Ltd, is in talks to buy
embattled West African iron ore miner London Mining,
showing Indian firms’ growing appetite to secure raw materials
abroad, sources familiar with the matter said.

London Mining was one of several junior miners set up in
West Africa during the boom years on the back of rising demand
for iron ore, hoping to turn the region into a new producing
frontier to compete with Australia and Brazil. Instead, they
have battled infrastructure woes, high costs and low prices.

Sep 29, 2014

India’s No. 2 coal producer Singareni to open country’s biggest underground mine

NEW DELHI (Reuters) – India’s second-largest coal producer Singareni Collieries will open the country’s biggest underground mine next month with a capacity of 2.8 million tonnes per year, which should help the firm edge past its output target for this fiscal year.

Singareni’s better-than-expected output will ensure sufficient supplies to south India-based power plants it caters to, at a time when the country is facing a severe shortage of coal. Nearly half of India’s power plants have less than a week’s stock of the fuel. (link.reuters.com/mep72w)

    • 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."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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