Mining Industries Correspondent
Krishna's Feed
Jun 11, 2013

CBI files case again Jindal steel, shares plunge 18 percent

NEW DELHI (Reuters) – The CBI registered a case on Tuesday against Jindal Steel and Power Ltd(JNSP.NS: Quote, Profile, Research) over coal mining rights, a spokesman of the law enforcement body said, in a move that knocked nearly a fifth off the value of the company’s shares.

The Central Bureau of Investigation, India’s answer to the American FBI, is investigating whether there were irregularities in the award of the rights, potentially worth billions of dollars, to private firms.

Jun 11, 2013

India’s Jindal Steel falls 18 pct on federal coal probe

NEW DELHI, June 11 (Reuters) – India’s federal police
registered a case on Tuesday against Jindal Steel and Power Ltd
over coal mining rights, a spokesman of the law
enforcement body said, in a move that knocked nearly a fifth off
the value of the company’s shares.

The Central Bureau of Investigation, India’s answer to the
American FBI, is investigating whether there were irregularities
in the award of the rights, potentially worth billions of
dollars, to private firms.

Jun 6, 2013

Welsh valley steel town waits for word from India

PORT TALBOT/NEW DELHI, June 6 (Reuters) – In the shadow of
Britain’s largest steel works, the town of Port Talbot braces
itself after Tata Steel’s $1.6 billion writedown.

The worry is that its Indian parent company is tiring of
pouring gains from lucrative operations into European units
struggling to turn profits.

Jun 6, 2013

Appeal lodged against Sterlite copper smelter reopening

NEW DELHI (Reuters) – India’s top copper smelter faces another hurdle in reopening from a two-month shutdown after a local authority lodged an appeal with the Supreme Court seeking to keep it closed, a lawyer told Reuters on Thursday.

The smelter, run by Sterlite Industries, a unit of London-listed Vedanta (VED.L: Quote, Profile, Research), uses imported concentrates and produces 30,000 tonnes of refined copper a month, more than half of India’s total production. Its closure has squeezed domestic copper supplies and boosted imports.

Jun 6, 2013

Appeal lodged against top India copper smelter reopening

NEW DELHI, June 6 (Reuters) – India’s top copper smelter
faces another hurdle in reopening from a two-month shutdown
after a local authority lodged an appeal with the Supreme Court
seeking to keep it closed, a lawyer told Reuters on Thursday.

The smelter, run by Sterlite Industries, a unit of
London-listed Vedanta, uses imported concentrates and
produces 30,000 tonnes of refined copper a month, more than half
of India’s total production. Its closure has squeezed domestic
copper supplies and boosted imports.

Jun 4, 2013

Chhattisgarh sees 33 percent output jump this year

NEW DELHI (Reuters) – India’s fourth-largest iron ore producing state expects to raise production by a third to about 37 million tonnes this fiscal year, even as mining restrictions in two other states turn the country into an importer of the steelmaking ingredient.

Chhattisgarh produced 27.7 million tonnes in the year ended March 2013, with all of that output going to local steel mills, said N.K. Xaxa, mines director of the state.

Jun 4, 2013

India’s No. 4 iron ore producing state sees 33 pct output jump this year

NEW DELHI, June 4 (Reuters) – India’s fourth-largest iron
ore producing state expects to raise production by a third to
about 37 million tonnes this fiscal year, even as mining
restrictions in two other states turn the country into an
importer of the steelmaking ingredient.

Chhattisgarh produced 27.7 million tonnes in the year ended
March 2013, with all of that output going to local steel mills,
said N.K. Xaxa, mines director of the mid-eastern state.

May 31, 2013

Court allows Sterlite copper smelter to resume production

NEW DELHI (Reuters) – India’s largest copper smelter can restart within a week, after a court on Friday gave a conditional go-ahead, ending a two-month-long shutdown that has squeezed domestic supply and boosted imports.

The smelter run by Sterlite Industries (STRL.NS: Quote, Profile, Research), a unit of London-listed Vedanta (VED.L: Quote, Profile, Research), can resume operations in the presence of a court-appointed panel, Justice Swatanter Kumar of a fast-track court, the National Green Tribunal, said.

May 31, 2013

India court allows top copper smelter to resume production

NEW DELHI, May 31 (Reuters) – India’s largest copper smelter
can restart within a week, after a court on Friday gave a
conditional go-ahead, ending a two-month-long shutdown that has
squeezed domestic supply and boosted imports.

The smelter run by Sterlite Industries, a unit of
London-listed Vedanta, can resume operations in the
presence of a court-appointed panel, Justice Swatanter Kumar of
a fast-track court, the National Green Tribunal, said.

May 22, 2013

Copper smelter closures put cable makers in tight spot

NEW DELHI (Reuters) – India’s cable makers face a severe shortage of copper and potential manufacturing delays after the closure of the country’s two biggest copper smelters, which has pushed up prices and led to a spike in imports.

India’s biggest smelter, owned by Sterlite Industries (STRL.NS: Quote, Profile, Research), was shut on March 30 after local residents complained of emissions that led to breathing difficulties, forcing top copper users to rely on rival Hindalco Industries (HALC.NS: Quote, Profile, Research) for almost all their copper needs.

    • 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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