Mining Industries Correspondent
Krishna's Feed
Mar 11, 2014

India’s Sesa says mining cap may lead to job cuts

NEW DELHI, March 11 (Reuters) – Indian metals producer Sesa
Sterlite said it may have to cut jobs if a top court
sets a limit on the amount of iron ore it can mine in the state
of Goa when and if it allows mining to restart in what used to
be the country’s top exporter.

India’s Goa state expects to resume mining before the
monsoon that starts in June, its chief minister said last month.
A panel appointed by the Supreme Court is due to give its
recommendation on the issue by March 15.

Mar 6, 2014

Coal India plans to set up power plant citing insufficient connectivity

PANAJI, India (Reuters) – Coal India Ltd(COAL.NS: Quote, Profile, Research), the world’s largest coal miner, plans to set up a 1.6 gigawatt power plant by 2015/16 near one of its mines from which coal cannot be shipped and sold due to a lack of rail connections, a company executive said.

The company has often said its output would be 300 million tonnes more than the current figure of about 475 million given enough rail tracks to carry the fuel from new and remote mines.

Mar 6, 2014

Coal India plans to set up power plant in 2015/16

PANAJI, India, March 6 (Reuters) – Coal India Ltd,
the world’s largest coal miner, plans to set up a 1.6 gigawatt
power plant by 2015/16 near one of its mines from which coal
cannot be shipped and sold due to a lack of rail connections, a
company executive said.

The company has often said its output would be 300 million
tonnes more than the current figure of about 475 million given
enough rail tracks to carry the fuel from new and remote mines.

Mar 6, 2014

State-backed firms hope to buy foreign coal mines soon

Panaji, India (Reuters) – A consortium led by Steel Authority of India Ltd (SAIL.NS: Quote, Profile, Research), the country’s second-biggest steelmaker, hopes to buy coal mines overseas in the next few months when it has completed due diligence on facilities in Indonesia, Mozambique and the United States.

Most steel producers in India, the world’s No.3 coal importer, depend on overseas coal shipments and have been trying to buy mines in Africa and Europe.

Mar 6, 2014

State-backed Indian firms hope to buy foreign coal mines soon

Panaji, India, March 6 (Reuters) – A consortium led by Steel
Authority of India Ltd, the country’s second-biggest
steelmaker, hopes to buy coal mines overseas in the next few
months when it has completed due diligence on facilities in
Indonesia, Mozambique and the United States.

Most steel producers in India, the world’s No.3 coal
importer, depend on overseas coal shipments and have been trying
to buy mines in Africa and Europe.

Feb 26, 2014

India to auction three coal blocks; first since Coalgate

NEW DELHI (Reuters) – India has invited bids for three coal blocks containing reserves of about 499.4 million tonnes, the Coal Ministry said, in its first auction of mining rights following investigations into its earlier practice of allocating them.

The allocation controversy, dubbed “Coalgate”, came up in 2012 after an auditor questioned the government’s exercise of awarding mining concessions without competitive bidding. The CBI has already launched probes against industrialists and companies.

Feb 26, 2014

India launches coal block auctions as earlier system discredited

NEW DELHI, Feb 26 (Reuters) – India has invited bids for
three coal blocks containing reserves of about 499.4 million
tonnes, the Coal Ministry said, in its first auction of mining
rights following investigations into its earlier practice of
allocating them.

The allocation controversy, dubbed “Coalgate”, came up in
2012 after an auditor questioned the government’s exercise of
awarding mining concessions without competitive bidding. India’s
top investigation agency has already launched probes against
industrialists and companies.

Feb 26, 2014

Poor rail links dash Coal India’s hopes of output jump

NEW DELHI, Feb 26 (Reuters) – Coal India, the
world’s No. 1 coal miner, will have to settle for an annual
output growth of just 30 million tonnes for the next few years
instead of a possible 300 million until railway tracks are ready
to carry the fuel from new mines.

The subdued growth target from the company that controls 80
percent of India’s total output means imports will continue to
rise as demand surges, benefiting top suppliers Indonesia,
Australia, South Africa and the United States.

Feb 19, 2014

India reclaims 31 coal blocks from private firms over delay

NEW DELHI/BHUBANESWAR (Reuters) – The coal ministry is taking back 31 coal blocks allocated to private firms including the Tata group and Jindal Steel and Power (JNSP.NS: Quote, Profile, Research) over delays in developing them, jeopardising billion-dollar projects and inviting warnings of legal action.

The ministry, reviewing some 61 coal blocks allocated over the past decade that have not started production yet, announced on Tuesday it is reclaiming about half as companies have failed to meet milestones. The companies say delays in getting some government clearances hampered work on the blocks.

Feb 19, 2014

India takes back coal blocks from private firms over delays

NEW DELHI/BHUBANESWAR, India, Feb 19 (Reuters) – India’s
coal ministry is taking back 31 coal blocks allocated to private
firms including the Tata group and Jindal Steel and Power
over delays in developing them, jeopardising
billion-dollar projects and inviting warnings of legal action.

The ministry, reviewing some 61 coal blocks allocated over
the past decade that have not started production yet, announced
on Tuesday it is reclaiming about half as companies have failed
to meet milestones. The companies say delays in getting some
government clearances hampered work on the blocks.

    • About Krishna

      "I have been covering India's metals and mining industries from New Delhi since April Fool’s Day, 2013. Before that I led two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies. I have closely followed the solar and shipping industries and love to write on cricket whenever I can."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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