COPPER MINE
Metal & Mining stocks: Same yet different, time to shed bias & watch for global signs. 5 stocks, 2 with an upside potential of up to 27%
In the last three months of volatility which nifty, sensex and broader market have witnessed there are some sectors which have shown a streak of out performance. They haven't fallen as much as nifty when the index was going down and pretty much moved in tandem with the index when it moved upward. Amongst many sectors metal has been one of them. There has to be a reason for this relative performance. In the case of metals stocks, there are some minor indications of improvement in the Chinese economy which have been keeping the metal prices stable. Question arises that if metal stocks have been stable, shouldn't be mining stocks, which also pretty much follow the same path of outperformance and be on watchlist because at the end of the day mining is a critical part of the whole supply chain.
Vedanta reports rise in production of aluminium, iron ore, zinc in Q1
In a filing to the BSE, the company said the aluminium output grew 3 per cent to 5,96,000 tonnes in the first quarter over the year-ago period, Vedanta said in a filing to BSE. At Zinc India, the saleable metal output grew to 2,62,000 tonnes over 2,60,000 tones.
India in talks with African and Latin American countries for critical mineral blocks, says official
"We are having lots of discussions with many other resource-rich countries both in Africa as well as in Latin America for getting a block on a G2G basis or on a priority basis", the joint secretary said.
Court approves billionaire Agarwal’s plan to reclaim Zambia mine
A court in Zambia sanctioned a plan for Vedanta Resources Ltd. to regain control of the Konkola copper project by settling debts owed to creditors. The company needs to release $250 million to settle debts and has committed to investing $1 billion for expansion projects.
Adani, Hindalco show interest as Hindustan Copper plans to develop two mines, source says
Hindustan Copper, a state-owned enterprise in India, plans to develop two of its copper mines. Adani Enterprises and Hindalco Industries have shown preliminary interest in the project. This development came to light during a pre-bid conference held earlier today.
Time up: BHP gives up plan to take over its rival Anglo American
BHP's aim was to secure Anglo's prized copper assets in Latin America and increase access to a metal central to the global shift towards clean energy and electric vehicles. But the structure of BHP's deal, which required Anglo to unbundle its South African platinum and iron ore businesses, was a major reason for its collapse.
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Hindalco raises FY25 capex target to ₹6,000 crore
Earlier this year, Hindalco said it would spend ₹5,000-5,500 crore on capex in FY25. In FY24, it spent about ₹4,200 crore.
Hindalco in process of bidding for two nickel, cobalt mines in Maharashtra, Karnataka: MD
Key minerals like copper, lithium, nickel, cobalt, and rare earth elements are crucial elements in numerous rapidly expanding clean energy technologies, ranging from wind turbines and electrical grids to electric vehicles.
India in talks with Sri Lanka to acquire graphite mine block
Sri Lankan graphite is considered among the purest in the world with more than 98% carbon content, said officials. India has also been in talks with other countries for procuring other critical minerals. "Agreements have been signed with the Democratic Republic of the Congo for cobalt and copper, Tanzania for niobium and graphite and South Africa for graphite and titanium," another official said.
No benefits likely from 38 critical blocks put on sale in this decade: Icra
Icra reported that benefits from the 38 critical mineral blocks on sale may not materialize by 2030 due to incomplete exploration. India's downstream manufacturing could face supply shocks. The government is auctioning lithium blocks in J&K and Chhattisgarh, with challenges in extracting lithium from clay deposits. Overseas acquisitions are also being considered.
Suspension order on operations at Vedanta iron ore mine in Karnataka lifted
Vedanta Ltd in April informed the BSE about the temporary suspension of mining operations at the iron ore mine due to non-compliance with the approved mining plan.
Domestic copper at lifetime highs; factors affecting the price surge
Record copper prices are driven by Chinese stimulus, mine supply concerns as well as green demand. MCX and LME futures surge. The Chinese 1 trillion yuan stimulus has boosted industrial metals demand for electric vehicles, renewable energy, and power grids. Goldman Sachs predicts major copper market deficit with US manufacturing rebound.
Coal India, NMDC, OVL look to secure critical mineral assets abroad
CIL, NMDC, OVL, and KABIL are collaborating to secure critical minerals overseas, focusing on lithium for EV batteries. India defines 30 critical minerals to meet energy transition goals for various sectors.
Centre orders probe into Rajasthan copper mine accident
Indian Bureau of Mines, under the Union Mines Ministry has also issued an advisory to owners and managers of all underground metalliferous mines for safety of mine workers from winding failures.
Rajasthan mine lift collapse: Hindustan Copper Ltd official dies, 14 others rescued
A tragic incident occurred at Hindustan Copper Limited's Kolihan mine in Rajasthan, claiming the life of Chief Vigilance Officer Upendra Pandey. A lift transporting personnel collapsed, trapping 15 individuals, including Pandey. Despite rescue efforts, he succumbed to injuries. Investigations by both HCL and police are underway.
Rajasthan: 14 trapped at Kolihan copper mine in Jhunjhunu after lift collapse, rescue operation underway
The incident took place at Hindustan Copper Limited's (HCL's) copper mine in the late hours of Tuesday and rescue operation is underway.
Coal India, NMDC exploring lithium mines overseas
State-run miners Coal India and NMDC are venturing into lithium mines in Chile and Australia, aiming to secure critical minerals. India's Mines Ministry encourages state-owned firms like ONGC Videsh to explore overseas. Delegations will visit Zambia and Congo for joint exploration. India eyes trade pacts for access to critical minerals globally, including with Chile and Mongolia.
"Everyone is safe": All 14 officials of Hindustan Copper Limited rescued from Rajasthan mine
Rajasthan Mine Lift Collapse: Three workers from Hindustan Copper Limited were successfully rescued in Neem ka Thana district after being trapped in a collapsed mine shaft. The police confirmed the incident and mentioned that the rescued workers were sent to the hospital, with fractures. Dr. Mahendra Singh, part of the medical team, provided updates on the rescue operations.
Anglo American Plc to exit diamonds, platinum and coal mining
Anglo's hand was forced by BHP's bid - which it has twice rejected - but the move also responds to pressure from shareholders to shed less profitable businesses and focus on the copper assets that are the envy of the industry. It leaves a much simpler company - though also a potentially more attractive one to suitors.
Anil Agarwal likens critical minerals to gold, says India should ensure self-sufficiency
The chairman of the natural resources conglomerate Vedanta said that not only are these minerals fundamental for new age technologies, they are also green metals.
Half of all copper mining is at drought risk with climate change
Copper has rallied in recent months to surpass $10,000 a metric ton, fueled by bets on looming shortages as mines struggle to meet rising demand from electric vehicles, grid infrastructure and data centers.
India will become leader in offshore mining: Official
Mines Secretary V L Kantha Rao in his address on Monday had said that the auction of offshore mines will begin in three months' time. The Offshore Areas Mineral (Development and Regulation) Act, 2002 has been amended to provide an auction route for awarding production leases for offshore minerals.
Mines Ministry inks MoU with Shakti Sustainable Energy Foundation for knowledge support on critical minerals
The MoU was signed on the sidelines of the two-day 'Critical Minerals Summit: Enhancing Beneficiation and Processing Capabilities' event that commenced at the India Habitat Centre, New Delhi on Monday.
Around 20 critical mineral blocks to be put on sale by June-end: Mines Secretary
The Indian government plans to auction around 20 critical mineral blocks by June end to meet growing demand for minerals like copper, lithium, and nickel in clean energy technologies. Over 100 blocks are available for auction due to increased exploration efforts. The ministry aims to start offshore mine auctions in three months.
UAE giant eyes majority stake in Vedanta's Zambian mines in expansion drive
Vedanta wants to sell part of its 80% stake in KCM and has hired Standard Chartered to manage the process in an effort to raise capital to revive the assets, which were nearly paralysed in an ownership dispute with the government that erupted in 2019 when the then-administration seized them. The deals spree is part of a push by oil-rich United Arab Emirates (UAE) and Saudi Arabia to secure critical metal supplies from Africa, a move that could also help them participate in the transition to green energy.
India reaches out to critical mineral producers for processing technology
According to a Niti Aayog estimate, India's advanced chemistry cell manufacturing industry annually needs 193 thousand tons of cathode active material to produce 100 GW hour annum of batteries by 2030. Critical minerals and their active materials used in the production of lithium-ion batteries (LIB) account for approximately 33%-48% of the overall pack cost.
India set to send teams to Chile seeking lithium and copper assets, report says
Chile is a key target as it is the world's biggest supplier of copper and the second-biggest producer of lithium, which are essential for electric vehicle batteries and renewable energy systems in the push away from fossil fuels.
India's mineral production grows nearly 6% in January
India, the world's second-largest coal user, generated record-high coal-fired electricity in January as rising demand for air conditioning meant that power generation firms did not make big cuts to the use of coal and other fossil fuels. Other minerals such as iron ore, a key raw material for steel, reported a nearly 41% year-on-year growth in sales value amid growing steel demand in the country.
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