Chief Correspondent, Commodities, India
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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.

Sep 22, 2014

India’s coal import rush leads to port congestion

NEW DELHI/BHUBANESWAR, Sept 22 (Reuters) – Indian 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 eastern 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.

Sep 4, 2014

Coal India rushes to supply power plants with critically low stocks

NEW DELHI, Sept 4 (Reuters) – Coal India is
rushing to supply coal it has sourced from railway sidings,
loading areas and other places over the years to feed power
plants critically short of the fuel, a company official with
knowledge of the matter said.

The move is part of emergency measures taken by the state
giant to prevent a shutdown of nearly one third of India’s
thermal power plants that have coal stocks of less than four
days – a situation last seen in one of the worst blackouts in
2012. A few power firms have already switched off some units.

Aug 29, 2014

Indian power station coal stocks lowest since 2012 blackouts

NEW DELHI, Aug 29 (Reuters) – Half of India’s thermal power
stations have less than a week’s supply of coal on hand,
according to weekly data, the lowest level since mid-2012 when
hundreds of millions of people were cut off in one of the
world’s worst blackouts.

There was a sharp fall in power output on Thursday from a
plant in the western state of Gujarat that left India more than
9,000 megawatts short of peak demand, according to two officials
at the state grid operator.

Aug 28, 2014

India to chip in with 5 pct of global rare earth output

NEW DELHI (Reuters) – India is commissioning a plant to produce up to 5,000 tonnes of rare earths a year, a state company official told Reuters, which could help it contribute about 5 percent to the global supply of the metals used in cameras, cars, iPhones and wind turbines.

India’s emergence as a supplier, albeit a small one, would be good news for countries like Japan, which up to now have had to rely mostly on China for rare earths production.

Aug 28, 2014

India to chip in with five percent of global rare earth output

NEW DELHI (Reuters) – India is commissioning a plant to produce up to 5,000 tonnes of rare earths a year, a state company official told Reuters, which could help it contribute about 5 percent to the global supply of the metals used in cameras, cars, iPhones and wind turbines.

India’s emergence as a supplier, albeit a small one, would be good news for countries like Japan, which up to now have had to rely mostly on China for rare earths production.

    • 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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