Mining Industries Correspondent
Krishna's Feed
May 10, 2013

POSCO’s $12 billion India steel project boosted by court order

NEW DELHI (Reuters) – POSCO’s (005490.KS: Quote, Profile, Research, Stock Buzz) planned $12 billion project in India got a boost on Friday after a top court said the federal government will decide on giving the South Korean steelmaker’s long-delayed plant preferential access to iron ore.

POSCO, the world’s fourth-largest steel producer, has waited eight years to get necessary clearances, land and an iron ore mining license to start work on the project, billed as India’s largest foreign direct investment. The plant in eastern Odisha state is slated to have a capacity of 12 million metric tons (13.2 million tons) a year.

May 10, 2013

POSCO’s $12 billion Odisha project boosted by SC order

NEW DELHI (Reuters) – POSCO’s(005490.KS: Quote, Profile, Research) planned $12 billion project in India got a boost on Friday after the Supreme Court said the government will decide on giving the South Korean steelmaker’s long-delayed plant preferential access to iron ore.

POSCO, the world’s fourth-largest steel producer, has waited eight years to get necessary clearances, land and an iron ore mining licence to start work on the project, billed as India’s largest foreign direct investment. The plant in eastern Odisha is slated to have a capacity of 12 million tonnes a year.

May 8, 2013

Sterlite copper smelter stays shut until at least May 14

NEW DELHI (Reuters) – India’s biggest copper smelter will stay shut until at least May 14 when a court will review an environmental case again, prolonging a six-week shutdown which is squeezing local supplies and boosting copper concentrate processing fees in Asia.

The Sterlite Industries’ (STRL.NS: Quote, Profile, Research) plant, which meets half of India’s copper demand, was closed on March 30 after residents complained of emissions that led to breathing problems.

May 8, 2013

India’s top copper smelter stays shut until at least May 14

NEW DELHI, May 8 (Reuters) – India’s biggest copper smelter
will stay shut until at least May 14 when a court will review an
environmental case again, prolonging a six-week shutdown which
is squeezing local supplies and boosting copper concentrate
processing fees in Asia.

The Sterlite Industries’ plant, which meets half
of India’s copper demand, was closed on March 30 after residents
complained of emissions that led to breathing problems.

Apr 29, 2013

Sterlite smelter to stay shut until at least May 8

CHENNAI/NEW DELHI (Reuters) – A month-long shutdown at India’s largest copper smelter was extended for at least another week after a state tribunal unexpectedly said it would not rule on complaints about emissions.

The case was transferred to an environmental fast track court in Delhi from a regional branch in Tamil Nadu, where the smelter is located. Two court officials in Delhi told Reuters a hearing will take place on May 8.

Apr 29, 2013

India’s top copper smelter to stay shut until at least May 8

CHENNAI/NEW DELHI, April 29 (Reuters) – A month-long
shutdown at India’s largest copper smelter was extended for at
least another week after a state tribunal unexpectedly said it
would not rule on complaints about emissions.

The case was transferred to an environmental fast track
court in Delhi from a regional branch in Tamil Nadu state, where
the smelter is located. Two court officials in Delhi told
Reuters a hearing will take place on May 8.

Apr 26, 2013

Maruti’s yen windfall to further lift margins after fourth-quarter surprise

MUMBAI/NEW DELHI (Reuters) – Maruti Suzuki’s (MRTI.NS: Quote, Profile, Research, Stock Buzz) profit margins are set to show even stronger gains in the current quarter as India’s biggest car maker reaps an even greater windfall from cheaper yen-denominated imports of components.

The yen’s dramatic decline since Japan’s Prime Minister Shinzo Abe embarked on his campaign for bold monetary easing has proven to be a huge filip for Japanese and Japan-related firms, and could give Maruti a further leg up over rivals like Tata Motors Ltd (TAMO.NS: Quote, Profile, Research, Stock Buzz).

Apr 26, 2013

Maruti’s yen windfall to further lift margins after Q4 surprise

MUMBAI/NEW DELHI, April 26 (Reuters) – Maruti Suzuki’s
profit margins are set to show even stronger gains in
the current quarter as India’s biggest car maker reaps an even
greater windfall from cheaper yen-denominated imports of
components.

The yen’s dramatic decline since Japan’s Prime Minister
Shinzo Abe embarked on his campaign for bold monetary easing has
proven to be a huge filip for Japanese and Japan-related firms,
and could give Maruti a further leg up over rivals like Tata
Motors Ltd.

Apr 24, 2013

JSW Steel plans to bid for iron ore blocks in Karnataka

NEW DELHI (Reuters) – JSW Steel Ltd (JSTL.NS: Quote, Profile, Research) plans to bid for iron ore mining blocks in Karnataka that could go up for auction after a Supreme Court order last week, as the country’s third-largest steel producer looks to cut its dependence on costly imports.

JSW and rivals such as Essar Steel have been forced to import iron ore due to a ban on mining in two states of India, once the world’s third-largest iron ore exporter that is expected to be a net importer this year.

Apr 24, 2013

India’s JSW Steel plans to bid for iron ore blocks in Karnataka

NEW DELHI, April 24 (Reuters) – India’s JSW Steel Ltd
plans to bid for iron ore mining blocks in Karnataka
state that could go up for auction after a Supreme Court order
last week, as the country’s third-largest steel producer looks
to cut its dependence on costly imports.

JSW and rivals such as Essar Steel have been
forced to import iron ore due to a ban on mining in two states
of India, once the world’s third-largest iron ore exporter that
is expected to be a net importer this year.

    • 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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