India Mining News

Asia Gold-India festival demand dims as price rally bites

Gold demand in this years Dusherra falls by 40% in some pockets.

India’s renewables sector forecast to double in the next five years

In the near term, coal remains to be the hot topic in India.

Mountain Province Diamonds latest sale nets $24 million

Mountain Province Diamonds is a 49% participant with De Beers in the Gahcho Kué diamond mine.

China chloralkali industry key driver of world salt market growth – report

World salt exports rose to 64 million tonnes in 2017, up 10 million tonnes from 2016.

Hedge funds reeling from gold jump have five charts to watch

Hedge funds that doubled down on bearish gold wagers are facing a gut check.

Gold festival demand in top buyer hits hurdle as prices jump

If this trend continues, then it’s going to be a dampener.

ArcelorMittal to make $1B creditor payment to bid for Essar Steel

The move comes two weeks after India's top court said ArcelorMittal's bid for Essar Steel would become valid only if the acquirer cleared outstanding debt of Uttam Galva Steels and KSS Petron.

A golden escape  

The oil price is rising due to the upcoming restrictions on the sale of Iranian oil - the second of a two-part set of sanctions imposed on the Middle Eastern power following the Trump Administration’s decision in May to withdraw from the Joint Comprehensive Plan of Action (JCPA).

Asia Gold-High prices deter buyers ahead of India festival season

In the Indian market, gold futures this week touched their highest since July 2016 at 32,014 rupees per 10 grams.

Logistics woes drive Indian mills to buy iron ore overseas

Steel mills in India are increasingly tapping the global market for iron ore as they find it difficult to transport the key raw material from local mines

The top ten zinc producing mines in the world

India clinches the title for largest zinc mine with Rampura Agucha.

Asia Gold-India discounts widen; Bangladesh launches trade policy

Higher domestic prices dented demand for physical gold in India, prompting dealers to offer the biggest discounts in 3-1/2 months this week.

India's Q4 gold imports to jump as investors seek safer bets than stocks

Gold imports could rise 9% in Q4 to 250 tonnes.

Vedanta to invest $4B in India block to boost output

Vedanta Ltd is investing to boost oil output from its flagship Barmer block in the desert state of Rajasthan to over 400,000 barrels per day (bpd) in 2021.

Baby girl survival rates in India fall when gold prices go up: study

The cost of a dowry becomes unaffordable.

Asia Gold-Buying picks up in China on lower prices; India discounts narrow

Physical demand saw an uptick in the world's biggest gold consumer, China, after prices fell to six-week lows this week.

Central bank demand for gold reaches 3-year high

Egypt recently bought gold for the first time since 1978, India, Indonesia, Thailand and the Philippines have re-entered the gold market after years-long absences.

Asia Gold-India shifts to discount; buying tapers off elsewhere as prices gain

In India gold was being sold at a discount of up to $2 an ounce over official domestic prices this week, compared with a premium of $1 last week.

India's steel minister wants import duty on coking coal scrapped

India's steel minister wanted the finance ministry to scrap the 2.5 percent duty on imports of coking coal to limit input costs.

Asia Gold-Price dip lends lustre, India buying robust ahead of festivals

In India, the world's second-biggest consumer of the metal after China, gold futures rose to 30,700 rupees per 10 grams on Thursday, a peak since July 9.

Pollution regulator issues environmental notices to Coal India

The notices, issued in July and August, said that inspections found that the sludge treatment plant in one of the mines was defunct, among other things.

India boosts purchases of Indonesian coal as prices drop

India, the world's second-largest coal importer, has defied its prior history of being a price-sensitive buyer and boosted its imports this year.

India's Aug gold imports double, hit 15-month high as prices drop -GFMS

But rising gold imports could widen India's trade deficit and further pressure its currency, the rupee, which hit a record low of 71.95 against the dollar on Wednesday.

India's Anil Agarwal succeeds with Vedanta Resources buyout

Some in the industry see this move as a prelude to a potentially broader deal with bigger miner Anglo American.

FedEx'd gems fueled India's biggest bank fraud, report says

Modi and associates fraudulently borrowed approximately $4 billion