Coal accounts for more than 60 per cent of India's electricity capacity, and the government plans to nearly double annual coal output by 2020, opening a new mine nearly every month
Overcoming a negative growth in mining sector and a meagre 2 per cent growth in agriculture, the economy continued on its upward trajectory, which was witnessed during the first quarter of the current financial year.
The private sector's new project announcements in the quarter ending March were among the highest on record. The value of new private sector project announcements for the three months ending March 2024 was Rs 9.8 trillion, shows data from tracker Centre for Monitoring Indian Economy (CMIE). This is the second-highest on record in data going back to 2009.
More than 85 percent of gold mined today will end up as jewelry tomorrow. Gold mining is not an essential industry like the harvesting of food or even paper production. It is certainly not sustainable, nor is it just.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
The government expects foreign direct investment into India to cross $7 billion in 2005-06, with auto and mining sectors expected to attract huge funds.
Currently, only Coal India, the world's largest coal miner, and its smaller sister PSU Singareni Collieries besides mining agencies of state government are allowed commercial coal mining.
Adani group plans to invest about Rs 1.3 lakh crore across its portfolio companies this fiscal as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, group CFO said on Tuesday. The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation and the remaining through debt, Group CFO Jugeshinder 'Robbie' Singh told reporters in Ahmedabad.
Faced with the prospect of yet another embarrassment in Rajya Sabha, Government on Tuesday night bowed to the opposition demand for sending the Mines and Minerals bill to a Select Committee after hours of battle of wits between rival sides.
South Korean steel giant Posco's wait for a mining licence in Orissa has got a little longer.
Ekka, who is embroiled in the controversy for allegedly signing official documents at a private place, was removed from the post following Bharatiya Janata Party's allegation of his conniving with middlemen.
Iron ore mining industry is facing a major crisis with the governments delaying issue of mining leases to companies.
Key infrastructure sectors -- from railways to power, and from coal to petroleum -- will not only be part of the achievements but promises too, as the BJP fights to get a third term at the Centre.
Dual methodology for e-auction to introduce price ceiling for power sector
Maoists on Friday exploded a bomb in Meghatpur mine and planted another at Kiribur, both run by public sector Steel Authority of India Limited along the Orissa-Jharkhand border. The attack comes hours after the Maoists blasted rail tracks in Jharkhand's West Singhbhum district that derailed the Tata-Bilaspur passenger train leaving two passengers dead.
Gold production in India has dwindled in recent times.
A sharp slowdown in mining sector lowered industrial growth to 7.4 per cent during August 2005 as against 8.6 per cent in the same month last fiscal.
It is up to the government to take a decision on this before it starts auctioning.
Industrial production re-entered the negative territory by contracting 1.6 per cent in January, mainly on account of the decline in output of capital goods, manufacturing and mining sectors. The output of the manufacturing sector -- which constitutes 77.6 per cent of the Index of Industrial Production (IIP) -- shrank by 2 per cent in January, as against a growth of 1.8 per cent during the same month last fiscal, as per data released by the government on Friday. The worst performance was witnessed by the capital goods sector, which recorded a contraction of 9.6 per cent during the month under review, compared to a 4.4 per cent decline a year ago.
Concerned over rising coking coal prices and insecurity of supplies, Steel Minister Ram Vilas Paswan on Saturday asked public sector steel producers to scout for mines abroad.
Sidhu's meeting came days after he called Mann as a "rubber doll", alluding to the Opposition charge that the state government is being run by the Aam Aadmi Party leadership from Delhi.
The government on Friday approved a landmark draft mines bill which provides for miners to share 26 per cent of their net profits for the people affected by the coal projects, while the burden on the non-coal miners will be amount equivalent to royalty.
India's industrial production growth rose to a 14-month high of 10.3 per cent in August, mainly due to good show by the manufacturing, mining and power sectors, according to the official data released on Thursday. The factory output growth measured in terms of the Index of Industrial Production (IIP) had contracted by 0.7 per cent in August 2022. The previous high was recorded at 12.6 per cent growth in June 2022.
More than legal and illegal mining of sand, the issue which stares us in the face is sustainable sand mining, says Gopal Krishna
Mining Minister Dinsha Patel, who piloted the Bill in the House, says the attempt is to let the mining projects not get scuttled by the locals.
The brokerage earnings estimate for the January-March 2024 quarter (Q4FY24) for Nifty 50 companies hints at a slowdown in corporate profit growth while revenue increase is likely to be in low single digits as in the previous two quarters. According to various brokerage estimates, the companies' combined net profits are expected to grow 3.1 per cent year-on-year (Y-o-Y) in Q4FY24, the slowest in the last five quarters. For comparison, the index companies' combined net profits were up 8.2 per cent Y-o-Y in Q3FY24 and 3.4 per cent Y-o-Y in Q4FY23.
Metal and mining companies, such as Tata Steel, JSW Steel, Hindalco, and Coal India, have been among the top-performing sectors on the bourses in recent months. The S&P BSE Metal Index is up 13 per cent in the past three months, rallying 29 per cent in the past year, outperforming the broader market. For comparison, the benchmark S&P BSE Sensex has only seen a 1.7 per cent increase in the past three months, with a 15 per cent gain since the end of September last year.
Shares of public sector enterprises have corrected by up to 22 per cent month-to-date until March 19, 2024. Analysts attribute this steep fall to the valuation exuberance seen after a sharp run in these counters last year and suggest investors remain selective regarding the stocks in this space. "The rally in public sector undertaking (PSU) stocks has been stretched and sharp, although it is somewhat justified by improvements seen in earnings, operations, balance sheets, and overall profitability.
Trinamool Congress is the second highest recipient of political donations through electoral bonds.
India's industrial production growth rose to a five-month high of 5.7 per cent in July, mainly due to good showing by the manufacturing, mining and power sectors, according to the official data released on Tuesday. The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 2.2 per cent in July 2022. The previous high was recorded at six per cent growth in February 2023. Thereafter, the growth rate declined to 1.9 per cent in March 2023 before rising to 4.6 per cent in April and further to 5.3 per cent in May.
India's industrial production growth decelerated to an 8-month low of 2.4 per cent in November, mainly due to poor showing by the manufacturing sector, according to the official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) was 7.6 per cent in November 2022. The previous low of IIP growth was recorded at 1.9 per cent growth in March 2023.
The first lot of 74 mines will be auctioned to specific end-users and allocated to state-owned entities by March.
The new mining policy must be rock solid
Karnataka and Andhra Pradesh in the south, and Rajasthan and Gujarat in the west, are the country's top producers of limestone
The Vedanta Group is aiming to invest $20 billion across all its businesses in India over the next four years, its chairman Anil Agarwal said on Wednesday. The group will sell the steel business only at the right price, and is committed to continue running it if it does not get the right price, Agarwal told PTI on the sidelines of a company event. "At the moment, we have a plan to invest $20 billion across sectors in four years time," Agarwal said.
One person was killed and three were feared dead after a mishap at an underground mine at BCCL's Basantimata colliery in Dhanbad district.
Antony told the Lok Sabha that in the recent past it has come to the notice of India that Pakistani elements planted mines on November 24-26, 2012 in Krishna Ghati sector of Poonch district.
