Economic Times

Britain's richest man Mittal pays full property tax in UK

Britain's richest man L N Mittal is among the few billionaires based in the UK not to seek benefits on his property tax for his palatial house

Indian billionaires jostle for Australian coal mines

Driven by an insatiable demand for energy back home, a number of Indian billionaires are jostling to get their hands on Australian coal mines.

India copper, nickel up on industrial demand

Copper and nickel prices rose by Rs 2 per kg in the local non-ferrous metal market today on pick-up in industrial demand amid a firming global trend.

With mining sector in pits, GDP growth to take big hit

An unprecedented crackdown on corruption in India's mining industry, led by the Supreme Court and state-level agencies such as Karnataka's Lokayukta, coupled with rigorous enforcement of environmental norms is resulting in collateral damage to the economy, with plunging mining output leading to a fall in industrial production and GDP growth.

Blanket ban on iron ore export will harm: FIMI

The Federation of Indian Mineral Industries (FIMI) has urged the Centre not to impose a blanket ban on the export of iron ore, as it would "affect India's steel industry and result in the closure of captive mines."

30 thermal power plants in India including NTPC and Reliance Power have coal stock for just four days

Coal stocks at India's thermal power plants are critically low on the eve of Diwali, and will not improve unless coal supplies are stepped up significantly.

Global factors creating potential for precious metals

Many invest in precious metals, more so in the recent times due to the uncertainty in the global economy. There are quite a few innovative instruments, with precious metals as the underlying asset, for investors to choose from. Several factors are driv...

Silver coins, currency glitters at Dhanteras

Silver coins and currency notes are in great demand for the feast of Dhanteras which falls a day before Deepavali in Uttar Pradesh.

Gold advances on investment demand, silver declines

Gold prices advanced at the domestic bullion market here today on hectic investment demand as well as modest jewellery off-take.

Gold heading downside, buy silver and copper on dips: Ashok Mittal, EMKAY Commotrade

Ashok Mittal, CEO-Commodities and Currencies, EMKAY Commotrade, in a chat with ET Now, gives his views on Agro and Non-agro Commodities outlook.

Is the gold market getting overheated

Gold has turned into an attractive investment option in the aftermath of delivering a spectacular rate of return last year. The investment demand for the yellow metal has been growing at a fast clip in countries like India and China. So, is the gold

Gold rebounds on Japan downgrade

As gold prices near $2,000 an ounce, some bulls say it's time to take money off the table after the safe-haven rally extended too far too fast in recent weeks. Gold investors at several firms said gold prices could correct sharply, citing overvaluation. While that does not mean prominent bulls are now bears, they recommended investors take profit on gold holdings, after the precious metal traded briefly above $1,900 on Tuesday for the first time.

Steel companies in Bellary, India begin layoffs; over 30,000 jobless

The economic consequences of the Supreme Court ban on mining in Bellary are beginning to be felt in thousands of homes in Karnataka as their primary bread winner is facing an axe or has already been pink-slipped. More than 30,000 people working for mining and steel companies are jobless. Another 15,000 workers employed in over half-a-dozen steel companies and 77 other related-industrial units face layoff threat as their companies face an acute shortage of raw materials (iron ore).

Coal India Ltd unions place wage demands raging from 100 pct to 500 pct hike

Four of the five trade unions of mining major have placed their wage demand with the management.

Cautious buying advised in gold: Bharath Kumar, GFM

What is your sense of where crude prices or rather gold prices actually may be heading, do you see a correction or do you think there is still significant headroom?

Iron ore production down 4.81 pc in FY'11

Production of iron ore, a vital steel-making raw material, in the country fell by 4.81 per cent in 2010-11 to 208.11 million tonnes (MT), Parliament was informed today.

India gold extends gains to record; physical demand muted

MUMBAI: India's extended gains by more than 2 percent on Monday and hit a new peak following strong overseas markets and a weaker rupee back home, which hit its lowest level in six weeks, dealers said. The October contract on the (MCX) hit a record of

Nalco gets forest clearance for renewal of Bauxite mining lease

The blue-chip Navaratna public sector, (Nalco) has received Stage-II (final) forest clearance for renewal of its bauxite mining lease for the Panchpatmali South Block in Koraput district of Orissa for 20 more years.

Soon half of India's power from private sector: Power Minister

Power Minister Sushil Kumar Shinde has promised reform and an enabling policy environment that will ensure half of India's electricity is generated and distributed by private players, complementing state-run utilities.

Gold glitters, hits record high at Rs 23,470 on global cues

NEW DELHI: Taking positive cues from the global markets , gold added Rs 200 to touch a new peak of Rs 23,470 per 10 grams today on heavy buying by stockists and investors. The yellow metal crossed its last record level of Rs 23,270 set on July 16 this

Iron ore exports seen falling to 8-year low

MUMBAI: Iron ore exports from India are likely to fall by more than a quarter to their lowest level in eight years because of higher costs and slow efforts in a key state to resume shipments, a Reuters poll showed. Iron ore sales from the world's

India's largest non-bank financier to offer loans against the security of gold ETFs

, the largest gold financing NBFC in India, has launched a scheme to offer loans against the security of gold Exchange Traded Funds (ETFs). Launching the service, , managing director, said that through loan against gold plans to service the financial

Rocked by blasts, Mumbai diamond traders may shift to new bourse

"Many of the Opera House diamond merchants' clients are from Israel...they are no strangers to terror and blasts," said Vasant Mehta, a leading merchant who was at home recovering from fever when the blast tore through Mumbai's congested diamond district.

Silver plunges to Rs 53,200 on global cues, gold gains Rs 165

NEW DELHI: There was no change in the pattern of trade in the bullion market today as silver tumbled by Rs 1,320 to Rs 53,200 per kg, while gold added another Rs 165 to Rs 22,810 per 10 grams in line with a similar trend in overseas markets. Silver coins

Coal India braces for fresh bids in Mozambique

MAPUTO: Coal India, one of the world's largest coal miner, has plans to call for fresh bids for exploratory drilling at two coal blocks in Mozambique's Tet province, local media reports said here on Saturday. The Indian state-run company secured