Chief Correspondent, Commodities, India
Krishna's Feed
Jul 23, 2013

India’s Jindal Steel sees iron ore needs trebling

NEW DELHI, July 23 (Reuters) – India’s Jindal Steel and
Power Ltd will consume 25-30 million tonnes of iron
ore a year by 2015, three times current volumes, and source most
of the raw material from abroad, the company’s chief executive
told Reuters.

The increased demand for iron ore is in line with Jindal
Steel’s plans to expand its production capacity to 11.5 million
tonnes in two years from 3.5 million tonnes at present.

Jul 17, 2013

ArcelorMittal abandons dormant Indian project

NEW DELHI, July 17 (Reuters) – ArcelorMittal, the
world’s top steelmaker, said it would scrap a planned steel
plant in India due to delays in acquiring land and an iron ore
mine, obstacles that have also caused South Korea’s POSCO
to abandon plans.

The decision to scrap the planned 12 million-tonnes-a-year
(MTA) plant in the eastern state of Odisha, comes a day after
the world’s fifth biggest steelmaker, POSCO, said it was
ditching a 6 MTA plant in the southern Karnataka state because
of delays in receiving iron ore mining rights and opposition
from residents which had held back land acquisition.

Jul 15, 2013

Court rules Sterlite copper smelter can stay open

NEW DELHI (Reuters) – India’s top copper smelter can stay open, but should take extra steps to prevent pollution, an environmental court said on Monday, ensuring that over half of the country’s output of the metal stays on stream.

The Sterlite Industries (STRL.NS: Quote, Profile, Research) plant, which produces 30,000 tonnes of copper per month, was shut for more than two months from March 30 after complaints from residents over emissions, forcing India to increase imports of copper.

Jul 15, 2013

Indian court rules Sterlite copper smelter can stay open

NEW DELHI, July 15 (Reuters) – India’s top copper smelter
can stay open, but should take extra steps to prevent pollution,
an environmental court said on Monday, ensuring that over half
of the country’s output of the metal stays on stream.

The Sterlite Industries plant, which produces
30,000 tonnes of copper per month, was shut for more than two
months from March 30 after complaints from residents over
emissions, forcing India to increase imports of copper.

Jul 15, 2013

Iron ore imports sink 78 percent in April-June

NEW DELHI (Reuters) – India’s iron ore imports plunged 78 percent in the April to June quarter from a year earlier, according to provisional data from government sources, as domestic supply rose and exports fell.

The shipment data, coupled with a 9.1 percent drop in iron ore imports by top buyer China in June, is expected to drag on global prices of the steel-making raw material that have already shed more than 12 percent so far this year.

Jul 15, 2013

India iron ore imports sink 78 pct in April-June on high local supply

NEW DELHI, July 15 (Reuters) – India’s iron ore imports
plunged 78 percent in the April to June quarter from a year
earlier, according to provisional data from government sources,
as domestic supply rose and exports fell.

The shipment data, coupled with a 9.1 percent drop in iron
ore imports by top buyer China in June, is expected to drag on
global prices of the steel-making raw material .IO62-CNI=SI
that have already shed more than 12 percent so far this year.

Jul 12, 2013

Sterlite smelter emissions within limits during inspection: report

NEW DELHI (Reuters) – An environmental report into India’s biggest copper smelter found no major irregularities in its operation or any negative impact on air quality during an inspection, but calls for safety audits, regular maintenance and better air quality monitoring.

The report, commissioned by the environment court considering whether Sterlite Industries’ (STRL.NS: Quote, Profile, Research) smelter should remain in operation, will be used by Judge Swatanter Kumar to reach a ruling. The case resumes on July 15.

Jul 12, 2013

Sterlite’s India smelter emissions within limits during inspection-report

NEW DELHI, July 12 (Reuters) – An environmental report into
India’s biggest copper smelter found no major irregularities in
its operation or any negative impact on air quality during an
inspection, but calls for safety audits, regular maintenance and
better air quality monitoring.

The report, commissioned by the Indian environment court
considering whether Sterlite Industries’ smelter
should remain in operation, will be used by Judge Swatanter
Kumar to reach a ruling. The case resumes on July 15.

Jul 10, 2013

POSCO set to get India iron ore licence-sources

July 10 (Reuters) – India is expected to grant an iron ore
exploration licence to POSCO for its planned $12
billion steel plant in the country, two government officials
told Reuters, in a step that should speed up the project stuck
for eight years.

The Supreme Court in May handed a decision on a licence to
the federal government, raising the South Korean firm’s chances
of getting access to iron ore for the project billed as India’s
largest foreign direct investment.

Jun 21, 2013

Reliance fund joins India’s effort to curb gold imports

MUMBAI/NEW DELHI (Reuters) – Reliance Capital(RLCP.NS: Quote, Profile, Research) abruptly halted gold sales and investments in its gold-backed funds on Friday, the latest squeeze on rampant demand that has prompted India to try to curb imports.

India is the world’s biggest gold buyer and soaring imports have sent its current account to a record deficit. New Delhi has hiked import duty twice since January 1, doubling it to 8 percent, but central bank moves to tackle supply have had more impact.

    • 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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