Chief Correspondent, Commodities, India
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Feb 19, 2015

Indian coal block auctions see aggressive bidding on supply concerns

NEW DELHI, Feb 19 (Reuters) – Indian metal and cement
companies have bid aggressively for coal blocks in the country’s
first auctions to sell mines as they look to cut imports and
their dependence on inefficient government monopoly Coal India
Ltd.

The auction follows a court cancellation of all previous
licences and the initial bidding suggests companies are keen to
secure supplies as the economy improves.

Feb 6, 2015

Companies set to back huge India solar expansion

NEW DELHI (Reuters) – India could start installing 20,000 megawatts of solar power capacity as early as April after companies pledged to support the government’s drive for clean energy, an official told Reuters.

Details of the plan, which has drawn commitments from U.S., German and Chinese companies, will be announced on Friday, said Upendra Tripathy, secretary of the Ministry of New and Renewable Energy.

Feb 5, 2015

South Korea’s POSCO faces another setback in India

NEW DELHI/BHUBANESWAR, India (Reuters) – South Korea’s POSCO (005490.KS: Quote, Profile, Research) will have to bid for an iron ore licence to feed its planned $12 billion steel plant in India, a minister said, in a setback for the company that was expecting the government to allocate it a mine without any competition.

The project to be set up by the world’s sixth-largest steelmaker has been caught up in a regulatory maze for the past decade, but the company had waited in the hope of getting preferential access to iron ore in Odisha.

Feb 5, 2015

India may cut iron ore export duty for Goa

NEW DELHI (Reuters) – India is considering cutting the export duty for the low-quality iron ore produced by the country’s biggest exporting state Goa, the mines and steel minister said, a move that could boost shipments to China and put more pressure on global prices.

The idea was welcomed by top private miner Sesa Sterlite Ltd, though some steel companies were critical.

Feb 5, 2015

India may cut iron ore export duty for Goa state

NEW DELHI, Feb 5 (Reuters) – India is considering cutting
the export duty for the low-quality iron ore produced by the
country’s biggest exporting state Goa, the mines and steel
minister said, a move that could boost shipments to China and
put more pressure on global prices.

The idea was welcomed by top private miner Sesa Sterlite
Ltd, though some steel companies were critical.

Feb 4, 2015

Around 12 mln tonnes of iron ore stuck at Indian ports -officials

SINGAPORE/NEW DELHI, Feb 4 (Reuters) – Around 12 million
tonnes of low-grade iron ore has been stuck at Indian ports for
months, stranded as hefty export taxes and plunging prices make
higher quality ore more appealing to buyers, said industry and
government officials.

Indian steel producers, many of which have been buying iron
ore overseas amid short supply at home, are unable to use the
low-grade material, which is typically shipped to top market
China.

Feb 2, 2015

As India opens up coal sector, global miners cool on investing

NEW DELHI/MELBOURNE, Feb 3 (Reuters) – India’s plans to
attract badly needed foreign investment and technology to its
coal sector are getting a cool response from some miners and
trading houses, even though the country is one of the few bright
spots for global coal demand.

Seeking to curb a growing reliance on imports, Prime
Minister Narendra Modi passed an order in December to allow
private firms to mine and sell coal for the first time in more
than 42 years.

Jan 25, 2015

Obama backs India’s solar goals, seeks support for climate talks

NEW DELHI (Reuters) – U.S. President Barack Obama on Sunday offered to help finance India’s ambitious solar energy target and sought Prime Minister Narendra Modi’s support at global climate talks in Paris later this year.

India is the world’s third-largest greenhouse gas emitter and often acts as the voice of the world’s developing countries in United Nations talks on everything from climate change to economic cooperation.

Jan 16, 2015

Goa says decks clear for iron ore mining to resume

NEW DELHI (Reuters) – Goa has removed a two-year ban on iron ore mining and expects mines could be back up and running by March or April at the earliest, Goa’s Director of Mines and Geology Prasanna Acharya said on Friday.

India was once the world’s third largest iron ore exporter and Goa its biggest exporting state. The return of Goa iron ore exports could further pressure global prices hovering around 5-1/2 year lows due to oversupply.

Jan 16, 2015

India’s Goa says decks clear for iron ore mining to resume

NEW DELHI, Jan 16 (Reuters) – India’s Goa state has removed
a two-year ban on iron ore mining and expects mines could be
back up and running by March or April at the earliest, Goa’s
Director of Mines and Geology Prasanna Acharya said on Friday.

India was once the world’s third largest iron ore exporter
and Goa its biggest exporting state. The return of Goa iron ore
exports could further pressure global prices hovering around
5-1/2 year lows due to oversupply.

    • 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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