Gold demand in this years Dusherra falls by 40% in some pockets.
India Mining News
In the near term, coal remains to be the hot topic in India.
Mountain Province Diamonds is a 49% participant with De Beers in the Gahcho Kué diamond mine.
World salt exports rose to 64 million tonnes in 2017, up 10 million tonnes from 2016.
Hedge funds that doubled down on bearish gold wagers are facing a gut check.
If this trend continues, then it’s going to be a dampener.
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.
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).
In the Indian market, gold futures this week touched their highest since July 2016 at 32,014 rupees per 10 grams.
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
India clinches the title for largest zinc mine with Rampura Agucha.
Higher domestic prices dented demand for physical gold in India, prompting dealers to offer the biggest discounts in 3-1/2 months this week.
Gold imports could rise 9% in Q4 to 250 tonnes.
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.
The cost of a dowry becomes unaffordable.
Physical demand saw an uptick in the world's biggest gold consumer, China, after prices fell to six-week lows this week.
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.
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 wanted the finance ministry to scrap the 2.5 percent duty on imports of coking coal to limit input costs.
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.
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, the world's second-largest coal importer, has defied its prior history of being a price-sensitive buyer and boosted its imports this year.
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.
Some in the industry see this move as a prelude to a potentially broader deal with bigger miner Anglo American.
Modi and associates fraudulently borrowed approximately $4 billion