Metals & Mining
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.
Coal India's Q1 production rises 8 pc to 189 MT
State-owned Coal India Ltd (CIL) reported an 8% increase in coal production to 189.3 million tonnes (MT) in the first quarter of the current fiscal year, surpassing the target. The company achieved 100% satisfaction, with all seven subsidiaries showing positive growth and five surpassing their targets. CIL's total supplies rose to 198.4 MT, with a 6% year-on-year growth, meeting the increasing demand for coal in the country, especially for power generation.
India, Australia look at increasing cooperation in critical minerals, processing
Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are essential components in many of today's rapidly growing clean energy technologies - from wind turbines and electricity networks to electric vehicles.
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.
Govt in process of finalising policy to offer PCI coal to steel makers to reduce imports
The Indian government is finalizing a policy to offer washed PCI coal to steel makers, aiming to reduce imports. PCI coal is crucial for steel production, enhancing efficiency and cutting carbon emissions. Plans include setting up coking coal washeries to meet sector demands by 2030.
Copper demand to rise significantly with shift to cleaner energy sources: HCL CMD Sharma
According to ICRA, the domestic refined copper demand growth is expected to remain healthy at 11 per cent in FY25, outpacing the rate of global growth in copper demand, given the Centre's thrust on infrastructure development and a gradual transition to renewable energy.
Only a third of critical mineral blocks find buyers
A company which offers to share the highest percentage of its revenue earned through sale of extracted minerals with the state governments - called the auction premium - wins the bid.
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.
Maiki South Mining secures India's first Lithium and REE blocks of Chhattisgarh with FPO of 76.05%
On Monday, Union Minister G Kishan Reddy granted the first Lithium block, Katghora, and the Rare Earth Element (REE) Block of Chhattisgarh to Maiki South Mining Private Limited, with a Final Percentage Ownership (FPO) of 76.05%. India currently depends significantly on imports to fulfill its demand for crucial minerals such as Lithium, Niobium, and Rare Earth Elements (REE). These minerals are essential for emerging technologies like electric vehicles, pharmaceuticals, and defense manufacturing.
India cancels 14 out of 18 critical mineral block auctions launched in second tranche, notice shows
India has canceled the auction for 14 critical mineral blocks, part of a $362 billion initiative launched in February to promote clean energy transition. The cancellation was due to lack of bids received for blocks containing minerals like vanadium, graphite, and cobalt.
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Ministry of Coal launches India's first pilot project for underground coal gasification in Jharkhand
India's Ministry of Coal launches the first Underground Coal Gasification pilot project at Kasta coal block in Jharkhand, aiming to convert coal into valuable gases like methane and hydrogen for industrial use.
Govt to launch fourth tranche of auction for critical and strategic mineral blocks on Monday
The Ministry of Mines will launch the 4th tranche of auctions for critical and strategic mineral blocks on Monday in New Delhi. Union Minister G Kishan Reddy and Minister of State Satish Chandra Dubey will inaugurate the event. The launch follows amendments to the MMDR Act, allowing the Central Government to issue mineral concessions for 24 critical minerals. The event will announce the preferred bidders of the 1st tranche, present certificates to Notified Private Exploration Agencies, and introduce a scheme for partial reimbursement of exploration expenses.
Karnataka forest minister halts leasing of forest land for iron ore mining in Sandur
Karnataka's Minister of Environment has halted the handover of a forest area to a mining company, citing concerns over the felling of over 99,000 trees and potential environmental damage. The decision comes after Union Minister HD Kumaraswamy approved mining in the area. Social activists have raised objections, highlighting the risk of soil erosion and flooding. The mining company has faced allegations of violating forest rules in the past. The minister's directive aims to prevent further environmental degradation and has sparked a campaign against mining on social media.
First critical mineral block auctions winners to be announced on Monday
The winners of six critical mineral blocks, including the highly contested Katghora block, will be announced on Monday. Among them is India's first lithium and rare earth element (REE) mine. The first round of auctions, launched on November 23 last year with 20 mines, saw bids for phosphorite, fertiliser minerals, and more. The lithium block in Chhattisgarh received significant attention with over 10 bids, while graphite mines attracted 4-5 bidders per block.
Vedanta turns a money-spinner for investors. What's pushing it on?
Shares of Anil Agarwal-owned Vedanta Group, including Vedanta Ltd and Hindustan Zinc Ltd, have surged by Rs 2.2 lakh crore, doubling from their 52-week lows. Vedanta's growth exceeds other top Indian businesses like Reliance and Tata Groups. Brokerages have raised price targets on Vedanta, citing operational efficiencies and demerger prospects. Vedanta plans to invest $20 billion in India, focusing on technology and electronics. Agarwal aims to monetize the steel business to cut debt.
Hindustan Zinc and US-based AEsir Technologies join hands for developing Zinc batteries
Hindustan Zinc Limited signed an MoU with AEsir Technologies Inc, a US company specialising in Zinc battery technologies. Hindustan Zinc will supply Zinc to AEsir for Zinc-based batteries, offering higher power at lower costs with longer lifespans. This partnership aligns with Hindustan Zinc’s focus on sustainable metal production for the global energy transition. AEsir's Nickel Zinc batteries are used in defence, renewable energy, and critical infrastructure.
