HEADLINES

  • Central government to examine Odisha’s proposal for SAIL taking over NINL
    India | Steel | 28th August 2014

    Indian government would seriously examine Odisha government's proposal for state-owned steel major SAIL taking over Neelachal Ispat Nigam Limited (NINL), Union Steel and Mines Minister Mr. Narendra Singh Tomar recently indicated. "Chief Minister Mr. Naveen Patnaik gave some suggestions when we...

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  • More downtrend recorded in ingots and billets
    India | Steel | 28th August 2014

    Spot steel offers in India depicted some more downward movements primarily in the semi steel as the prices continued to slip with the fundamentals not providing enough support. It seems that the secondary steelmakers have completely evaded the market in the past few sessions, which led to drastic...

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  • CCI clears Mitsubishi-Hitachi Metals Machinery JV with Siemens
    India | Steel | 28th August 2014

    India’s fair trade regulator Competition Commission of India (CCI) has approved the proposed joint venture between Mitsubishi-Hitachi Metals Machinery and German conglomerate Siemens in respect of metal plant building business. According to the CCI, "the proposed combination is not...

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  • India’s mineral production in June up 4.3 percent from last year
    India | Iron ore | 28th August 2014

    As per the recent official data, the country's mineral production rose by 4.3 percent in June as compared to the corresponding month last fiscal and was valued at INR 17,615 crores. The index of mineral production of mining and quarrying sector for the month of June 2014 at 121.5 was 4.3 percent...

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  • Government mulling amendments to MMDR Act to bring mineral auction
    India | Iron ore | 28th August 2014

    It seems that the new Indian government is considering amendments to the Mines and Minerals (Development and Regulation) Act, 1957, to bring in the provision of auction for bulk minerals like iron ore and others. The proposal came up for discussion at a meeting between Union Steel and Mines...

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  • Khandadhar iron mines to be considered for POSCO’s Odisha plant
    India | Iron ore | 28th August 2014

    Maintaining that the Centre has adopted a constructive approach on the proposed POSCO steel plant in Odisha, Union Steel and Mines Minister Mr. Narendra Singh Tomar said that the state's recommendation on the Khandadhar iron mines for the project will be considered with a positive mind. "The...

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  • Centre to act on applications for mining in notified areas
    India | Iron ore | 28th August 2014

    Union Steel and Mines Minister Mr. Narendra Singh Tomar on Wednesday suggested that the Centre would act only on applications for mining in notified areas pending amendment to MMDR Act, in view of Shah Commission's recommendations. On the Commission's recommendation for a CBI probe into mining scam...

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  • Negative capesize movement guides BDI marginally lower
    Others | Freight | 28th August 2014

    Freight markets stayed in the red territory lead by some losses in capesize segment on Wednesday, which weighed down the global gauge of dry bulk freight, Baltic Dry Index (BDI). Main index slipped marginally 7 points to end at 1,063 points, although still in a better shape as compared to the early...

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  • Jindal ITF, Sula Shipping join hands for NTPC's coal movement
    India | Freight | 28th August 2014

    Jindal ITF, a wholly-owned subsidiary of Jindal Saw and Sula Shipping and Logistics have joined hands for the Farakka trans-shipment project of coal for NTPC. A Jindal Saw statement on Wednesday said the partnership would increase the efficiency of the NTPC-Farakka waterways project which delivers...

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  • Panel defers decision on expansion of Western Coalfields mining project
    India | Coal/Coke | 28th August 2014

    A high-level panel has deferred its decision on a proposal seeking environment clearance to expansion of Coal India Ltd. arm, Western Coalfields Ltd's coal mining project in Maharashtra. "The Committee, after detailed deliberations, sought information for further consideration of the project,...

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  • HPGCL sets new benchmark in power generation
    India | Coal/Coke | 28th August 2014

    Haryana Power Generation Corporation Ltd (HPGCL) claimed it had set a new benchmark by generating 723.47 Lakh Units (LU) of electricity in a single day at a Plant Load Factor of 94.37 per cent on Tuesday, which is the highest ever daily generation since its formation. The previous highest ever...

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  • NTPC inked fuel supply pacts for over 14,000 MW plants in FY-14
    India | Coal/Coke | 28th August 2014

    India’s largest power utility National Thermal Power Corporation (NTPC) recently suggested that it has signed fuel supply agreements for 14,010 MW capacity to be commissioned by March 2015. "The Coal Supply Agreements (CSAs) were signed for 14,010 MW capacity commissioned or to be...

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  • NTPC to import 17 million tons of coal this fiscal
    India | Coal/Coke | 28th August 2014

    Facing shortage in domestic fuel supplies, NTPC plans to import 17 million tons of coal this fiscal which is higher than the quantity purchased last financial year. The company plans to add 1,798 MW generation in the current financial year ending March 2015. NTPC Chairman and Managing Director Mr....

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  • SAIL plans to raise INR 5,000 crores debt in current fiscal
    India | Steel | 27th August 2014

    Steel Authority of India plans to raise up to INR 5,000 crores debt this fiscal by issuing secured non-convertible debentures or bonds in tranches to part-fund its capital expenditure. "A sum of INR 9,000 crores is planned to be spent during the current financial year 2014-15. In order to part...

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  • Spot steel offers continue to slip in Indian physical markets
    India | Steel | 27th August 2014

    Spot steel prices moved further lower in semi finished steel, and the long steel segment recorded some sideways in across the regions in the country. Meanwhile, the flat steel offers were broadly unchanged in the initial session on Wednesday. Markets were looking for support from the fundamentals...

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  • KIOCL starts pellet exports to China
    India | Iron ore | 27th August 2014

    India’s state-owned export oriented pellet manufacturer, KIOCL Ltd. has reportedly restarted the export of iron ore pellets to China, following a prolonged absence from the export market for about three years. However, it has been actively looking for foreign trade options in this year, with...

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