Chief Correspondent, Commodities, India
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Feb 12, 2014

India rejects call to ban iron ore exports from top producing state

NEW DELHI/BHUBANESWAR, India, Feb 12 (Reuters) – India’s
mines ministry has rejected suggestions by a powerful government
panel to ban exports of iron ore and limit output from the
eastern state of Odisha, dispelling fears the country’s top
producer faced curbs similar to those imposed elsewhere.

The bans in two other producing states, Karnataka and Goa,
have helped spur sales by miners from Australia, Brazil and
South Africa, pushing India to ninth place last year among world
exporters of the steelmaking raw material to top market China.

Feb 10, 2014

Weak rupee cuts January coal imports by 33 percent

NEW DELHI (Reuters) – The weak rupee cut India’s imports of coal, the fuel that provides almost 60 percent of its electricity, by 33 percent in January from the same month last year, data from leading research group OreTeam showed on Monday.

Struggling domestic coal output has meant that India has jumped to the number three global importer, behind China and Japan. It is less reliant on imports of coking coal for its steel industry.

Feb 10, 2014

Weak rupee cuts India’s Jan coal imports 33 pct yr/yr

NEW DELHI, Feb 10 (Reuters) – The weak rupee cut India’s
imports of coal, the fuel that provides almost 60 percent of its
electricity, by 33 percent in January from the same month last
year, data from leading research group OreTeam showed on Monday.

Struggling domestic coal output has meant that India has
jumped to the number three global importer, behind China and
Japan. It is less reliant on imports of coking coal for its
steel industry.

Feb 10, 2014

Goa expects iron ore mining to restart before monsoon

NEW DELHI (Reuters) – Goa expects to resume mining before monsoon that starts in June, its chief minister said on Monday, but this may not mean an immediate resumption in shipments from what used to be the country’s top iron ore exporter.

A ban on mining and exports in September 2012 to clamp down on illegal mining in Goa, coupled with a similar step in neighbouring Karnataka, has slashed output and shipments from India.

Feb 10, 2014

India’s Goa state expects iron ore mining to restart before monsoon

NEW DELHI, Feb 10 (Reuters) – India’s Goa state expects to
resume mining before monsoon that starts in June, its chief
minister said on Monday, but this may not mean an immediate
resumption in shipments from what used to be the country’s top
iron ore exporter.

A ban on mining and exports in September 2012 to clamp down
on illegal mining in Goa, coupled with a similar step in
neighbouring Karnataka, has slashed output and shipments from
India.

Jan 22, 2014

Coal imports up 21 percent in 2013 – research firm

NEW DELHI (Reuters) – India’s coal imports rose 21 percent to 152 million tonnes last year as power producers bought more due to low prices and a domestic shortage, research firm OreTeam said, adding that shipments could rise to 170 million tonnes this year.

Bureaucratic, environmental and legal delays in adding new mines and expanding existing ones have made India the No. 3 importer of coal, behind China and Japan, even though it sits on what BP Plc (BP.L: Quote, Profile, Research) ranks as the world’s fifth-largest reserves.

Jan 22, 2014

India coal imports up 21 pct in 2013 -OreTeam

NEW DELHI, Jan 22 (Reuters) – India’s coal imports rose 21
percent to 152 million tonnes last year as power producers
bought more due to low prices and a domestic shortage, research
firm OreTeam said, adding that shipments could rise to 170
million tonnes this year.

Bureaucratic, environmental and legal delays in adding new
mines and expanding existing ones have made India the No. 3
importer of coal, behind China and Japan, even though it sits on
what BP Plc ranks as the world’s fifth-largest reserves.

Jan 16, 2014

India PM: POSCO to start work on steel plant in coming weeks

NEW DELHI, Jan 16 (Reuters) – South Korea’s POSCO
will be able to start work on its planned
$12-billion Indian steel plant over the coming weeks, India’s
prime minister said on Thursday, ending an eight year delay for
environmental and legal clearances.

Manmohan Singh said the firm’s request for an iron ore
mining licence – the final regulatory hurdle for the project
which would be the biggest foreign direct investment in India -
was at an “advanced stage of processing”.

Jan 16, 2014

PM: POSCO to start work on steel plant in coming weeks

NEW DELHI (Reuters) – South Korea’s POSCO (005490.KS: Quote, Profile, Research) will be able to finally start work on its planned $12-billion Indian steel plant over the coming weeks, India’s prime minister said on Thursday, after being stuck on the drawing board for eight years.

Manmohan Singh also said the firm’s request for an iron ore mining license – the final regulatory hurdle for the project which would be the biggest foreign direct investment in India – was in “advanced stage of processing”.

Jan 9, 2014

Environment nod to lift cost of POSCO’s India plant to $12.6 bln

NEW DELHI, Jan 9 (Reuters) – India’s environment ministry
has given its go-ahead to POSCO’s planned steel
plant in the country, but has asked it to spend on “social
commitments”, a company spokesman said, raising the project’s
cost by $600 million to $12.6 billion.

The revalidation of the South Korean firm’s lapsed
environmental clearance comes days before the country’s
president, Park Geun-hye, visits India for four days starting
Jan. 15.

    • 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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