Mining Industries Correspondent
Krishna's Feed
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.

Apr 18, 2013

Supreme Court keeps bauxite mining ban, eases some iron ore curbs

NEW DELHI/MUMBAI (Reuters) – The Supreme Court has kept a ban on bauxite mining in hills in Odisha considered sacred by residents, whose opinion it has ordered to be sought on whether digging would disrupt the environment or their livelihoods.

The Supreme Court also allowed just nine more iron ore mines to restart in Karnataka, in another decision reflecting the competition between the claims of environmental and social rights groups and the need for resources to power Asia’s third-largest economy.

Apr 18, 2013

India’s top court keeps bauxite mining ban, eases some iron ore curbs

NEW DELHI/MUMBAI, April 18 (Reuters) – India’s top court has
kept a ban on bauxite mining in hills in the eastern state of
Odisha considered sacred by residents, whose opinion it has
ordered to be sought on whether digging would disrupt the
environment or their livelihoods.

The Supreme Court also allowed just nine more iron ore mines
to restart in the southern state of Karnataka, in another
decision reflecting the competition between the claims of
environmental and social rights groups and the need for
resources to power Asia’s third-largest economy.

Apr 5, 2013

Karnataka iron ore output seen reaching 30 million tonnes

NEW DELHI (Reuters) – Karnataka expects to reopen 19 iron ore mines this fiscal year, which were shut by a court in 2011, increasing supplies to local steel mills by 30 million tonnes, the head of its mines department said.

India used to produce 200 million tonnes of iron ore a year and sell about half of that overseas before bans on production aimed at curbing illegal mining in Karnataka and top producer Goa slowed production and exports to a trickle.

Apr 5, 2013

Karnataka iron ore output seen reaching 30 mln T

NEW DELHI, April 5 (Reuters) – India’s Karnataka state
expects to reopen 19 iron ore mines this fiscal year, which were
shut by a court in 2011, increasing supplies to local steel
mills by 30 million tonnes, the head of its mines department
said.

India used to produce 200 million tonnes of iron ore a year
and sell about half of that overseas before bans on production
aimed at curbing illegal mining in the states of Karnataka and
top producer Goa slowed production and exports to a trickle.

Apr 3, 2013

Inland U.S. oil refiners stung by renewable energy credits

April 3 (Reuters) – Landlocked U.S. oil refiners short on
capacity to blend ethanol are bracing for a spike in costs,
unable to export their way out of a sudden rise in the price of
renewable energy credits needed to comply with government
requirements.

CVR Energy Inc and HollyFrontier Corp,
inland refiners with limited capacity to blend biofuels into the
pipeline, are suffering from a jolt to investor confidence while
stocks of their coastal peers continue a two-year upward march.

Apr 2, 2013

Sterlite Industries copper plant shut for at least a week after leak

NEW DELHI/MUMBAI (Reuters) – Sterlite Industries Ltd’s(STRL.NS: Quote, Profile, Research) copper plant in India, the country’s largest, will stay closed at least until a hearing next week about a gas leak reported at the site, tightening supplies of the red metal in Asia’s third largest economy.

An extended shutdown of the smelter, which produces more than 300,000 tonnes per year and supplies half of India’s domestic copper needs, could spur imports and drive up prices, traders and analysts have said.

    • 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
    • More from Krishna

    • Contact Krishna

    • Follow Krishna