Chief Correspondent, Commodities, India
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Oct 10, 2014

Severe coal shortage at Indian power plants hits industries

NEW DELHI, Oct 10 (Reuters) – A power plant in India’s
capital New Delhi is among 37 across the country that have
either exhausted their coal or have less than four days’ supply,
a shortage that has forced some states to ration power for
industries and homes.

Many states have been hit by a severe power deficit which
has dealt a blow to small-scale factories that produce
everything from steel to textiles and cannot afford alternatives
such as diesel generators.

Oct 8, 2014

India needs to scrap iron ore export tax as prices sink-miner Sesa

NEW DELHI/SINGAPORE, Oct 8 (Reuters) – India needs to
swiftly remove a tax on iron ore exports, the country’s top
private miner of the commodity said, calling the duty an
“economic barrier” in the face of falling global prices.

The country’s iron ore shipments have already slowed to a
trickle after a ban on mining in key producing states, with a 30
percent tax on exports making it even more difficult to sell to
a world market where prices have sunk 40 percent this year.

Oct 6, 2014

Steelmaker JSW in talks to buy London Mining

NEW DELHI/BANGALORE (Reuters) – India’s third-largest steelmaker, JSW Steel Ltd, is in talks to buy embattled West African iron ore miner London Mining, showing Indian firms’ growing appetite to secure raw materials abroad, sources familiar with the matter said.

London Mining was one of several junior miners set up in West Africa during the boom years on the back of rising demand for iron ore, hoping to turn the region into a new producing frontier to compete with Australia and Brazil. Instead, they have battled infrastructure woes, high costs and low prices.

Oct 6, 2014

Indian steelmaker JSW in talks to buy London Mining

NEW DELHI/BANGALORE, Oct 6 (Reuters) – India’s third-largest
steelmaker, JSW Steel Ltd, is in talks to buy
embattled West African iron ore miner London Mining,
showing Indian firms’ growing appetite to secure raw materials
abroad, sources familiar with the matter said.

London Mining was one of several junior miners set up in
West Africa during the boom years on the back of rising demand
for iron ore, hoping to turn the region into a new producing
frontier to compete with Australia and Brazil. Instead, they
have battled infrastructure woes, high costs and low prices.

Sep 29, 2014

India’s No. 2 coal producer Singareni to open country’s biggest underground mine

NEW DELHI (Reuters) – India’s second-largest coal producer Singareni Collieries will open the country’s biggest underground mine next month with a capacity of 2.8 million tonnes per year, which should help the firm edge past its output target for this fiscal year.

Singareni’s better-than-expected output will ensure sufficient supplies to south India-based power plants it caters to, at a time when the country is facing a severe shortage of coal. Nearly half of India’s power plants have less than a week’s stock of the fuel. (link.reuters.com/mep72w)

Sep 29, 2014

India’s No. 2 coal producer to open country’s biggest underground mine

NEW DELHI, Sept 29 (Reuters) – India’s second-largest coal
producer Singareni Collieries will open the country’s biggest
underground mine next month with a capacity of 2.8 million
tonnes per year, which should help the firm edge past its output
target for this fiscal year.

Singareni’s better-than-expected output will ensure
sufficient supplies to south India-based power plants it caters
to, at a time when the country is facing a severe shortage of
coal. Nearly half of India’s power plants have less than a
week’s stock of the fuel. (link.reuters.com/mep72w)

Sep 26, 2014

Coal imports to jump 60-65 mln T/yr after court scraps concessions

NEW DELHI (Reuters) – India’s annual coal imports could jump by as much as a third to more than 200 million tonnes for the next few years as a result of a court ruling this week that will halt mining of the resource by most private companies from next year.

The Supreme Court has scrapped 214 coal blocks allocated by the government over the past two decades after ruling that the selective allocation process was arbitrary and illegal. It ordered that the operational ones among them be returned to state-run Coal India (COAL.NS: Quote, Profile, Research) by end-March next year.

Sep 26, 2014

India’s coal imports to jump 60-65 mln T/yr after court scraps concessions

NEW DELHI, Sept 26 (Reuters) – India’s annual coal imports
could jump by as much as a third to more than 200 million tonnes
for the next few years as a result of a court ruling this week
that will halt mining of the resource by most private companies
from next year.

The nation’s top court has scrapped 214 coal blocks
allocated by the government over the past two decades after
ruling that the selective allocation process was arbitrary and
illegal. It ordered that the operational ones among them be
returned to state-run Coal India by end-March next
year.

Sep 24, 2014

Supreme Court scraps nearly all coal blocks allocated since 1993

NEW DELHI (Reuters) – The Supreme Court on Wednesday scrapped all but four of 218 coal blocks allocated by the government over the past two decades, in a tougher-than-expected ruling that sank shares of companies that have invested heavily in projects around the concessions.

Most power, steel and cement companies that won blocks will have until end-March to return them, and the government then plans to auction them off. The previous practice of selective allocation was ruled illegal and arbitrary by the court.

Sep 24, 2014

India’s top court scraps nearly all coal blocks allocated since 1993

NEW DELHI, Sept 24 (Reuters) – India’s top court on
Wednesday scrapped all but four of 218 coal blocks allocated by
the government over the past two decades, in a
tougher-than-expected ruling that sank shares of companies that
have invested heavily in projects around the concessions.

Most power, steel and cement companies that won blocks will
have until end-March to return them, and the government then
plans to auction them off. The previous practice of selective
allocation was ruled illegal and arbitrary by the court.

    • 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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