Mining Industries Correspondent
Krishna's Feed
Nov 12, 2013

Hindalco says coal mining delays to hit profitability; results miss estimates

NEW DELHI (Reuters) – India’s second largest aluminium and copper producer Hindalco Industries(HALC.NS: Quote, Profile, Research) said on Tuesday delays in obtaining coal mining rights would weigh on its profit growth, as the company will now be forced to buy the costly fuel.

Hindalco and its chairman, billionaire Kumar Mangalam Birla, are being investigated by India’s federal police as part of a probe into possible irregularities in the allocation of coal blocks to several companies over the past two decades.

Nov 12, 2013

India’s Hindalco says coal mining delays to hit profitability

NEW DELHI, Nov 12 (Reuters) – India’s second largest
aluminium and copper producer Hindalco Industries said
on Tuesday delays in obtaining coal mining rights would weigh on
its profit growth, as the company will now be forced to buy the
costly fuel.

Hindalco and its chairman, billionaire Kumar Mangalam Birla,
are being investigated by India’s federal police as part of a
probe into possible irregularities in the allocation of coal
blocks to several companies over the past two decades.

Nov 12, 2013

Supreme Court keeps ban on Goa iron ore mining, allows inventory sales

NEW DELHI (Reuters) – The Supreme Court of India has maintained a 14-month ban on iron ore mining in top producing state Goa but allowed the sale of more than 11 million tonnes of material that sat in stockpiles.

Restrictions aimed at clamping down on illegal mining have slashed output and shipments from India, previously the world’s third-largest exporter with over $7 billion a year of iron ore supplied mostly to China’s steelmakers.

Nov 12, 2013

India keeps ban on Goa iron ore mining, allows inventory sales

NEW DELHI, Nov 12 (Reuters) – India’s Supreme Court has
maintained a 14-month ban on iron ore mining in top producing
state Goa but allowed the sale of more than 11 million tonnes of
material that sat in stockpiles.

Restrictions aimed at clamping down on illegal mining have
slashed output and shipments from India, previously the world’s
third-largest exporter with over $7 billion a year of iron ore
supplied mostly to China’s steelmakers.

Nov 11, 2013

Supreme Court lets sales of iron ore resume in Goa

NEW DELHI (Reuters) – The Supreme Court gave the go-ahead on Monday for the auction of around 11.46 million tonnes of iron ore already mined in Goa, potentially doubling the country’s exports this year to top market China if overseas sales are allowed.

The court also said it would set up a panel to decide on a cap for Goa’s iron ore output and this should submit an interim report by February 15, 2014, leaving mining still on hold.

Nov 11, 2013

Indian court lets sales of iron ore resume in Goa state

NEW DELHI, Nov 11 (Reuters) – India’s Supreme Court gave the
go-ahead on Monday for the auction of around 11.46 million
tonnes of iron ore already mined in Goa state, potentially
doubling the country’s exports this year to top market China if
overseas sales are allowed.

The court also said it would set up a panel to decide on a
cap for Goa’s iron ore output and this should submit an interim
report by Feb. 15, 2014, leaving mining still on hold.

Nov 10, 2013

Biting the hand that feeds: India’s small towns favor opposition

KASBA BONLI, India (Reuters) – Kasba Bonli is a newly prosperous market town in the northern Indian state of Rajasthan and it should be a perfect advertisement for the ruling Congress party’s pro-farmer policies. Instead the buzz in the bazaar is for the opposition.

In just a few years, handouts for farmers by Congress have helped turn the once-deprived village into a thriving retail centre, selling everything from glittery bangles to satellite dishes.

Nov 8, 2013

Coal mining clampdown to boost imports by steelmakers

BHUBANESWAR/NEW DELHI, India (Reuters) – Steel producers are preparing to increase coal imports sharply as state governments halt approvals for them to mine coal because of court investigations into the system for awarding coal blocks.

A rise in imports by India, which shipped in a record 138 million tonnes of coal in the last fiscal year, could support global prices at a time when a glut of steel in China has eroded demand for coking coal used in steel making.

Nov 8, 2013

Indian coal mining clampdown to boost imports by steelmakers

BHUBANESWAR/NEW DELHI, India, Nov 8 (Reuters) – Indian steel
producers are preparing to increase coal imports sharply as
state governments halt approvals for them to mine coal because
of court investigations into the system for awarding coal
blocks.

A rise in imports by India, which shipped in a record 138
million tonnes of coal in the last fiscal year, could support
global prices at a time when a glut of steel in China has eroded
demand for coking coal used in steel making.

Nov 7, 2013

Top iron ore exporter Goa wants to halve fresh output

NEW DELHI (Reuters) – India’s top iron ore exporting state of Goa hopes the Supreme Court will soon lift a year-long ban on mining but aims to rein in production to ease pressure on roads and infrastructure, the state’s regulator of mining licenses said on Thursday.

Bans in Goa and an adjacent state over the past two years have cut to a trickle India’s exports to top market China, with shipments falling 75 percent to just over 8 million tonnes over January to September, Chinese data show.

    • 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."
      Hometown:
      Agdala, Baihata Chariali, Assam
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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