A test sale was conducted and, according to the Minister of Mines, it was a total success.
India Mining News
India’s decision to allow private and foreign companies to bid for coal mines without any end-use or price restrictions is likely to lure foreign mining giants, currently swimming in cash.
The chief coal analyst at Noble Resources said on Tuesday that imports to India will rise after falling in the last two years.
Spot gold has declined about 1 percent so far this week and was headed for a second straight weekly drop due to a recovery in the dollar.
A funding proposal for a rail line that could carry its coal to the coast for export has been canned.
Company's shares fell as much as 5.5% on the news that the Indian Supreme Court had cancelled all the 88 existing iron ore mining licences in the Indian coastal state of Goa.
Gold prices rose on Friday, putting them on course for a near 2 percent weekly gain, in anticipation of a further dip in the U.S. dollar.
What are the implications for regional collaboration and the expansion of clean infrastructure?
Indian commodities billionaire said the rally in Anglo American Plc vindicated his personal bet in the mining group.
Synchronised global economic growth, shrinking central bank balance sheets, rising interest rates, insubstantial asset prices and market transparency are the trends to watch this year, the World Gold Council said.
The mining cycle turned two years ago – gains for the sector's largest companies have far outpaced stocks like Apple, Amazon, Google and Facebook since.
Markets where technology hasn’t substantially shortened the supply cycle and where cost are rising (ie copper) have the greatest long-term upside in prices
Even though the system has received criticisms, its 54 participants seem committed to making it work.
The rebound in purchases by India could support global prices, which are already near their highest levels in three months.
The state-owned company plans to open up 12 new mines.
In about four years, Tata may need 13.6 million tonnes of iron ore annually.
More than half the 2017 combined market cap gains for the world's largest listed miners accrued to just five firms as gold producers drop out of top 10.
While long-term diamond demand may be slowing, this year rough-diamond prices experienced positive turn-around and prices of polished diamonds stabilized.
The company's Kalinganagar plant will be expanded by 5 million tonnes per annum (tpa) to 8 million tpa, entailing a total investment of 235 billion rupees.
Coal may have fallen out of favor in North America and Europe, but India and other Asian nations ensure the dirtiest fossil fuel continues as energy supply.
The Indian Captive Power Producers Association denounced that most of its member companies are getting half of the coal they need from state-owned Coal India.
The commerce department has sought to scrap levies and introduce a presumptive tax of 0.25 percent on diamond mining companies.
Coal India Ltd.’s production and shipments in Nov. rose to most for month in at least five years, as power plants procured more coal to boost inventories.
The shovels are in the ground at the Carmichael coal mine in Queensland but the bankers have yet to open their wallets.
The Queensland state premier, who had originally supported Adani's application for a federally funded loan, now says her government will veto it.