Chief Correspondent, Commodities, India
Krishna's Feed
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.

Sep 23, 2014

JSW expects to import 10 mln tonnes or more iron ore

NEW DELHI (Reuters) – JSW Steel Ltd(JSTL.NS: Quote, Profile, Research), India’s No. 3 maker of the alloy, said it is planning to raise iron ore imports to 10 million tonnes this fiscal year and could boost that further if a domestic shortage continues and international prices stay low.

The company was earlier planning to import 6 million tonnes, but a sharp jump in local prices due to recent closures of mines has forced it to consider more shipments.

Sep 23, 2014

India’s JSW expects to import 10 mln tonnes or more iron ore

NEW DELHI, Sept 23 (Reuters) – JSW Steel Ltd,
India’s No. 3 maker of the alloy, said it is planning to raise
iron ore imports to 10 million tonnes this fiscal year and could
boost that further if a domestic shortage continues and
international prices stay low.

The company was earlier planning to import 6 million tonnes,
but a sharp jump in local prices due to recent closures of mines
has forced it to consider more shipments.

Sep 22, 2014

Coal import rush leads to port congestion

NEW DELHI/BHUBANESWAR (Reuters) – India’s power and steel companies are importing shiploads of coal due to a severe shortage at home, leading to heavy congestion in one of the country’s busiest ports that now has twice the number of vessels waiting than its available berths.

The over-crowding at Paradip port in Odisha could derail India’s efforts to prevent a shutdown of more than half of its power plants which are running on stocks of less than a week in the worst deficit since a massive blackout in 2012.

    • 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
    • More from Krishna

    • Contact Krishna

    • Follow Krishna