BUSINESS
Navi Mumbai International Airport’s commercial operations to begin by March 2025
The project, worth almost Rs 18,000 crore, will be completed in five phases, aviation minister Jyotiraditya Scindia said.
BUSINESS
Coal India, Hindustan Zinc, Jindal Power weigh bids for critical mineral blocks
Mineral blocks are located in states including Bihar, Odisha, Uttar Pradesh, Chhattisgarh, Jharkhand, Tamil Nadu and the union territory of Jammu and Kashmir.
BUSINESS
Budget 2024: Analysts keep an eye on infra spending, expect modest allocations in metals & mining sector
In 2024, the minerals and metals industry is expected to fill production gaps and reduce dependence on imports, helped along by policy reforms and government incentives.
BUSINESS
Almost 35% of stainless steel MSMEs in Gujarat shut shop in Q2 FY24 due to Chinese dumping: ISSDA Chief
Cheaper Chinese imports are putting pressure on the margins of domestic stainless steel players, causing the industry to file a petition last year urging the government to impose a countervailing duty on Chinese stainless steel imports.
BUSINESS
Explainer: The National Mineral Exploration Trust’s role in promoting clean mining tech
The trust plays a crucial role in identifying and funding the exploration of critical minerals such as lithium, the platinum-group elements, graphite, molybdenum, etc., and helps the government strengthen the domestic supply of raw materials required to shift to cleaner energy.
BUSINESS
2024: Metals and Mining to see accelerate domestic production, decarbonisation in focus
The focus of the minerals and metals industry will be ramping up production with a view to reducing import dependency. This is critical given the expected rise in demand from the infrastructure fueled by policy reforms.
BUSINESS
As government pushes mining reforms, miners and explorers worry about gaps in execution
While industry has welcomed the move, there are concerns over getting clearances, funding and lack of expertise
BUSINESS
Government to launch second round of critical minerals auction before February
Last month, 20 critical mineral blocks, spread across the country in states including Bihar, Odisha, Uttar Pradesh, Chhattisgarh, Jharkhand, Tamil Nadu and the union territory of Jammu and Kashmir, were auctioned
BUSINESS
Vedanta plans to raise Rs 3,400 crore ahead of debt repayment in Jan
The conglomerate has bond repayments of $3.2 billion coming up over the next two years. About $2 billion worth of bonds are slated for redemption in 2024 — half of which are due as early as January — and another $1.2 bn in 2025, according to Bloomberg data.
BUSINESS
Rebel Ripples: Oil prices may rise temporarily due to the Red Sea crisis, say analysts
India imports most of its crude from the UAE, Saudi Arabia, and Iraq through the Strait of Hormuz, while Russian crude is brought in through the Northern Sea Route. These shipping lanes are largely immune to supply risks arising from the situation in the Red Sea.
BUSINESS
Radiance Renewables plans to raise about Rs 1,250 crore by June
The company, which started in 2020, currently has a capacity of 500 MW and aims to increase it to 2 gigawatts in three years.
BUSINESS
Cement industry ‘under construction’ as leader protects market amid high M&A activity
Analysts expect the bigger players will continue to buy up smaller companies and consolidate to protect and gain market share on expectations of robust demand.
BUSINESS
Budget@10: Mining reforms in focus as India pivots towards sustainability, self-reliance
Exploration in India is mostly handled by government entities, while it is dominated by the private sector in other countries. There is a need for the government to introduce incentives to attract more private participation.
BUSINESS
Crude oil prices edge lower as fresh voluntary cuts by OPEC+ disappoint traders
The benchmark Brent crude, which had initially rallied on the news, slightly dipped at $82.83 a barrel, down 0.32 percent, on December 1, while West Texas Intermediate (WTI) fell 0.26 percent.
BUSINESS
Regency Ceramics aims Rs 100-cr turnover by FY25 amid revival plans
In 2012, a labour unrest broke out in the Yanam plant wherein workers set ablaze machinery, vehicles, raw material, finished goods and records of the company, causing Regency Ceramics to declare a lockout
BUSINESS
India plans first tranche of critical mineral auction on Nov 29
The auction shall be held online through a transparent two stage ascending forward auction process, the ministry said adding that the eligible bidder shall be selected based on the highest percentage of the value of mineral dispatched quoted by them.
BUSINESS
SAIL seeks to hike rail prices for Indian Railways
Under agreement between SAIL and the railways, these prices are for rail supplies that have an Ultimate tensile Strength (UTS) of 90 kg/mm2 and a weight of 60 kg or 52 kg per meter.
BUSINESS
Crude oil prices edge higher as optimistic investors await OPEC meeting
Benchmark Brent crude was trading at $81.43 per barrel on November 24. Prices declined almost 0.7% to end near $81 a barrel on November 23 after a sudden delay to a scheduled OPEC meeting.
BUSINESS
NMDC to hike prices of lumps and fines in Chhattisgarh, Karnataka from today
The price hikes will be effective in both states of Chhattisgarh and Karnataka, CNBC reported adding that both lumps and fines in Chhattisgarh will be hiked by Rs 200 per tonne, while those in Karnataka will go up Rs 300 per tonne.
BUSINESS
Crude oil prices fall as OPEC reschedules meeting
OPEC+ countries were scheduled to meet on November 26 but the meeting has been pushed to November 30, when the oil cartel might extend or deepen supply cuts to support crude prices.
BUSINESS
Crude oil prices flat as markets weigh OPEC cuts
Brent crude was trading at $82.31 a barrel on November 22 against the previous day’s close of $82.45. OPEC and allies, which meet on November 26, may extend or deepen supply cuts to support prices
BUSINESS
Indian Biogas Association expects Rs 1,500 crore in foreign investments in less than a year
The association said investments worth Rs 2,755 crore were struck during the Renewable Energy India Expo 2023, double over the last year.
BUSINESS
NMDC plans investments to pivot towards tailored products
The state-run firm has appointed consultants such as McKinsey & Company and Deloitte to study the market and come up with a marketing policy by the end of the financial year.
BUSINESS
Gandhar Oil Refinery India IPO price band at Rs 160-169 per share, fund raising over Rs 500 crore
Gandhar Oil Refinery India IPO | The Mumbai-based company is planning to mop up Rs 500.69 crore via IPO.
