Chief Correspondent, Commodities, India
Krishna's Feed
Jul 25, 2014

Coal India undermined by basic equipment flaws

NEW DELHI, July 25 (Reuters) – As Prime Minister Narendra
Modi’s government looks to shape up Coal India Ltd for
a potential major restructuring, the world’s biggest coal miner
still faces basic problems: it does not have enough mechanical
shovels, dumpers and explosives.

The new government, which has a 90 percent stake in the
company whose total market value is about $40 billion, is
exploring a break up and opening up the sector to foreign
investment to boost output and cut imports, sources have said.

Jul 18, 2014

Coal India union says to oppose any stake sale

NEW DELHI, July 18 (Reuters) – Unions representing workers
at Coal India Ltd, the world’s largest coal miner,
will oppose any move to sell a stake in the state-owned company
as part of the new government’s plan to shore up its finances, a
union leader said on Friday.

The government, which has a 90 percent stake in the company
whose total value is about $40 billion, is considering the sale
of a 10 percent stake, according to official sources.

Jul 16, 2014

Trafigura targets $8 bln India metals market with online store

NEW DELHI, July 16 (Reuters) – Swiss-based Trafigura has
launched an online store in India to sell aluminium, copper and
other metals, seeking a slice of the $8 billion market and
becoming the first big commodities trader to cater to hordes of
small manufacturers dotting the country.

Trafigura, co-founded by French billionaire
Claude Dauphin, said it has been drawn in by India’s primary
metals market that is forecast to grow at up to 8 percent a
year.

Jul 9, 2014

JSW Steel raises iron ore imports to six mln tonnes in a year

NEW DELHI (Reuters) – JSW Steel, led by billionaire Sajjan Jindal and India’s third-largest maker of the alloy, will import 6 million tonnes of iron ore this fiscal year compared with no shipments a year earlier due to production cutbacks at home.

JSW’s return to the sea-borne iron ore market after a gap of more than a year could further support prices that seem to be recovering after sliding to 21-month lows in mid-June.

Jul 9, 2014

India’s JSW raises iron ore imports to 6 mln T in a year

NEW DELHI, July 9 (Reuters) – JSW Steel, led by
billionaire Sajjan Jindal and India’s third-largest maker of the
alloy, will import 6 million tonnes of iron ore this fiscal year
compared with no shipments a year earlier due to production
cutbacks at home.

JSW’s return to the sea-borne iron ore market after a gap of
more than a year could further support prices that seem to be
recovering after sliding to 21-month lows in mid-June.

Jul 8, 2014

Power plants running out of coal, imports to surge

NEW DELHI (Reuters) – Nearly half of India’s coal-fired power plants have only enough stocks to last a week or less, a shortage that could become critical and drive up thermal coal imports by 14 percent as weak monsoon rains are expected to cut output from hydropower.

State behemoth Coal India (COAL.NS: Quote, Profile, Research), the world’s largest coal miner, has failed to raise its output fast enough to meet demand, and millions of Indians still go without power.

Jul 8, 2014

Indian power plants running out of coal, imports to surge

NEW DELHI, July 8 (Reuters) – Nearly half of India’s
coal-fired power plants have only enough stocks to last a week
or less, a shortage that could become critical and drive up
thermal coal imports by 14 percent as weak monsoon rains are
expected to cut output from hydropower.

State behemoth Coal India, the world’s largest
coal miner, has failed to raise its output fast enough to meet
demand, and millions of Indians still go without power.

Jul 7, 2014

Nearly half of India’s coal power plants have one week of stocks

NEW DELHI (Reuters) – Nearly half of India’s coal-fired power stations only have enough stocks to last a week, the power minister said, as the country struggles to connect millions to the grid and wrestles with a growing coal import bill.

Coal imports equate to about one percent of India’s economy as state behemoth Coal India, the world’s largest coal miner, has failed to raise output fast enough to meet demand.

Jul 3, 2014

India’s Sesa sees 6-fold jump in iron ore output, Goa mining set to resume

NEW DELHI, July 3 (Reuters) – India’s Sesa Sterlite Ltd
expects its iron ore output to surge six fold this
fiscal year as it resumes production in Goa in September after a
19-month mining ban in the state, an executive of the country’s
top private iron ore miner said.

A pick up in production as mines in India’s biggest iron
ore-exporting state restart could hurt global prices of the
steelmaking raw material .IO62-CNI=SI that have already lost
almost 30 percent this year in an amply supplied world market.

Jul 3, 2014

Sesa expects to resume iron ore production in Goa in Sept

NEW DELHI (Reuters) – Sesa Sterlite Ltd (SESA.NS: Quote, Profile, Research), India’s largest private iron ore miner, expects to resume production in Goa in September following a court-imposed ban of nearly two years.

A pick up in supplies from the country’s top iron ore exporting state could drag on prices of the steelmaking raw material in an amply supplied world market.

    • 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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