India Report

Gujarat traders expect rise in gold selling on 'Dhanteras'

Coal India increases supplies to power cos by 28 pct post Oct 10

With a view to improve power supplies ahead of Diwali, state-run Coal India has increased despatches of the dry fuel to power utilities by 28 per cent from October 10. The country's largest coal miner in a statement today said that on an average, 0...

Copper remains up on increased industrial demand

Copper prices moved up by Rs 2 per kg in the local non-ferrous metal market today due to increased industrial demand amid a firming trend at the London Metal Exchange. Traders said increased industrial demand and reports of a rising trend in overseas...

Gold rises by Rs 195, silver up by Rs 400 on festive demand

Both the precious metals, gold and silver, extended gains for the second straight session today on sustained buying by stockists for the ongoing festive season amid rising global trend. While gold added Rs 195 to Rs 27,115 per 10 grams, silver gained R...

India gold, silver turn weak on global cues, sluggish demand

Both the precious metals, gold and silver, fell on the bullion market today on profit-selling by stockists, amid a weak trend in overseas markets. While gold dropped by Rs 250 to Rs 26,660 per 10 grams, silver lost Rs 1,200 to Rs 53,000 per kg on reduc...

Silver futures trade higher on global cues

New Delhi, Oct 7 (PTI) Silver prices shot up by Rs 580 to Rs 55,175 per kg in futures trade today as speculators enlarged their positions in tandem with a firming trend in Asian region. At the Multi Commodity Exchange, silver for delivery in March shot...

Griffin Coal to generate up to $160 mn in revenue in FY'12

Griffin Coal, which was acquired by Lanco Group early this year, may generate revenues of up to USD 160 million this fiscal, according to a senior company official. The miner may produce coal up to 4 million tonnes during the March, 2011-March, 2012, period, the Lanco Group official said, requesting anonymity.

Mercator buys 50 pc stake in Indonesian mine for USD 30 mn

Mercator Lines has acquired 50 per cent stake in a coal mine in Indonesia's Kalimanthan province for about USD 30 million (Rs 145 crore), a top company official said today.

India Panaji port used as gateway for exporting illegal ore

The state-run Panaji Minor Port could have served as a gateway to export a huge amount of illegal iron ore from the state, a senior official revealed, while appealing the Goa Government to suspend the operations at the port in"national interest".

Copper, nickel remain weak on reduced industrial demand

Amid a weakening trend overseas and sluggish local demand, copper and nickel prices fell further by Rs 5 per kg in the local non-ferrous metal market today. In the national capital, copper wire scrap, copper wire bar and copper mixed scrap remained under

1.5 crore worth illegal iron ore seized

About 2,000 metric tonnes of iron ore valued at about Rs 1.5 crore were seized today by officials of the Forest and Police departments at Sandur in the district today.

Six dead in covered-up coal mine accident in China

Six people were killed in a coal mine explosion that had been covered up for 13 days in China's northeastern Heilongjiang Province, a provincial work safety official said today.

Lead weakens on reduced offtake

Lead prices traded lower by a rupee per kg in the local metal market today due to reduced offtake from battery makers. Traders said reduced offtake from battery makers led to the fall in lead prices.

80 pct of power plants at risk of default over coal, env issues

Warning that 80 per cent of the country's power plants face the risk of a default due to coal shortages and environmental issues, a body of power producers has petitioned the government for an expert group to review contracts awarded under through the competitive bidding route.

NTPC to invest Rs 6,600cr in coal-based power project

State-run NTPC would invest around Rs 6,600 crore for setting up a coal-based power project at Kanpur, on which the work is expected to start from January 2012. The proposed 1,320 MW project is likely to come up at Bilhaur, near Kanpur in Uttar Pradesh.