Chief Correspondent, Commodities, India
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Nov 12, 2014

India says may stop thermal coal imports in 2-3 yrs

NEW DELHI, Nov 12 (Reuters) – India, the world’s
third-largest buyer of overseas coal, may be able to stop
imports of power-generating thermal coal in the next three years
as state behemoth Coal India steps up production, the
country’s power and coal minister said.

Prime Minister Narendra Modi’s government has asked Coal
India, the world’s largest miner of the fuel, to more than
double its output to 1 billion tonnes by 2019 to feed existing
and upcoming power plants.

Nov 9, 2014

Modi’s ‘Make in India’ push to depend on Chinese steel

NEW DELHI, Nov 10 (Reuters) – India’s steel consumption is
expected to grow at its fastest pace in five years next year on
Prime Minister Narendra Modi’s infrastructure push, but a
scarcity of raw materials means it will be at the expense of
another key goal – curbing imports.

In his triumphant election campaign, Modi criticised the
last government for exporting iron ore but importing steel. But
his first five months as the prime minister has coincided with a
surge in imports of both, denting his high-decibel drive to make
India an export powerhouse.

Oct 22, 2014

Modi takes first bite at coal to end India’s power mess

NEW DELHI, Oct 22 (Reuters) – India could allow commercial
coal mining by foreign companies if they set up units in the
country, opening the door for global giants like Rio Tinto
to access the world’s fifth-largest coal reserves, a
source familiar with the matter said.

Prime Minister Narendra Modi’s decision to open commercial
coal mining to private players is a key step towards bringing
order to the country’s chaotic power industry and ending the
chronic blackouts that impede its economic rise.

Oct 20, 2014

PM Modi steps up economic reforms, eyes privatisation

NEW DELHI (Reuters) – India promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls.

Using an executive order, the cabinet agreed to allow private Indian companies to mine and sell coal at an unspecified future date, Finance Minister Arun Jaitley said. That sets the stage for the biggest liberalisation of the industry in more than 40 years.

Oct 20, 2014

India’s Modi steps up economic reforms, eyes privatisation

NEW DELHI, Oct 20 (Reuters) – India promised on Monday to
open up the coal industry to private players and moved closer to
selling a stake in a state-run oil company, as Prime Minister
Narendra Modi picked up the pace on economic reform days after
relaxing fuel price controls.

Using an executive order, the cabinet agreed to allow
private Indian companies to mine and sell coal at an unspecified
future date, Finance Minister Arun Jaitley said. That sets the
stage for the biggest liberalisation of the industry in more
than 40 years.

Oct 10, 2014

India’s JSW Steel ‘very close’ to deal for London Mining: source

By Karen Rebelo and Krishna N Das

(Reuters) – India’s third-largest steelmaker JSW Steel (JSTL.NS: Quote, Profile, Research, Stock Buzz) is nearing a deal to buy embattled West African iron ore miner London Mining (LOND.L: Quote, Profile, Research, Stock Buzz), a source with direct knowledge of the negotiations said on Friday.

“JSW is very close to a deal. It is almost 100 percent done,” the source said.

Oct 10, 2014

Severe coal shortage at power plants hits industries

NEW DELHI (Reuters) – A power plant in New Delhi is among 37 across India 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 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.

    • 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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