co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
The resource-rich nation has surprised markets with its commodity exports policies, including brief but controversial bans earlier this year on shipments of palm oil and coal, of which Indonesia is the world's biggest exporter.
Of these six blocks to be auctioned, three are bauxite mines and three are limestone blocks.
Bauxite is the principal ore of aluminum and therefore the mineral is the essential raw material for aluminium producers.
Investors need to watch out for supply-side issues in China, which will correct prices
The production level of important minerals in April 2021 includes, coal 516 lakh tonnes, lignite 31 lakh tonnes, natural gas (utilised) 2,583 million cubic metre, petroleum (crude) 25 lakh tonnes, bauxite 16.61 lakh tonnes, chromite 6.36 lakh tonnes and gold 120 kg.
Exploration of bauxite is being undertaken by various agencies in Chhattisgarh, Jharkhand, Odisha and Gujarat, Minister of State for Mines Haribhai Parthibhai Chaudhary said in a written reply to the Lok Sabha.
According to the report, bauxite production is projected to be at 26.1 MT this year, about 18 per cent higher than 2016.
In an interview to CNBC-TV18, Tom Albanese, CEO of Vedanta spoke about the latest happenings in his company and the sector.
Jharkhand, Chhattisgarh and Odisha are among the states that are preparing for auction of around 70 mineral blocks like iron ore, limestone and bauxite in the next financial year.
The deposits in these mines include iron-ore, bauxite, manganese, limestone as well as dolomite and their leases have lapsed this month in the absence of forest and environment clearances, required for execution of a lease deed.
After a record 18 per cent growth in bauxite mining, aluminium major Nalco plans to raise its production capacity to over 73 lakh tonnes this fiscal from about 68 lakh tonnes.
Despite a world-wide sluggish market in metal sector, Navratna PSU Nalco has registered an impressive performance in the first half of 2016-17 fiscal.
The ministry of mines, government of India has granted mining lease of Pottangi bauxite mines, situated in Koraput district of Odisha, where the company‘s 22,75,000-tonne alumina refinery is located.
Six months after auction process was initiated for 43 mines across 12-mineral bearing states, only six blocks have managed to find buyers
The aluminium major has registered an all-time high production of 63.40 lakh tonnes of bauxite in 2015-16 fiscal which is 10.47 percent higher, and 19.53 lakh tonnes of alumina, 5.51 percent higher than the corresponding period previous fiscal, NALCO said in a BSE filing.
CNBC-TV18's Anshu Sharma And Surabhi Upadhyay detail the sector's budget wishlist.
The index of mineral production of mining and quarrying sector for November (new Series 2004-05=100) 2015 stood at 131.5, higher by 2.3 percent compared to November 2014, the data released by Mines Ministry showed.
State governments have been empowered to conduct the auction. They will identify and demarcate areas for minerals auction. This will entail two rounds of minerals auction - technical and financial round.
The Bill, which replaces Mines and Minerals (Development and Regulation) Amendment Ordinance, 2015 promulgated on January 12, 2015, amends the Mines and Minerals (Development and Regulation) Act, 1957.
The Mines and Minerals (Development and Regulation) Amendment Bill, 2015, which will replace an ordinance promulgated in January, was passed amid vociferous protests by members from TMC, BJD and RSP.
The ordinance approves granting of mining leases for a period of 50 years. Those already granted before it would also be deemed to have been given for a period of 50 years.
After 12 gram sabhas completely rejected bauxite mining in the Niyamgiri hills, Vedanta is now looking beyond the area to source raw material for its Rs 5,000 crore Lanjigarh alumina refinery in Odisha and is hopeful of securing an alternate mine soon.
Asking Odisha government and Vedanta Aluminium Limited (VAL) to spare Niyamgiri Hills for bauxite, Union Minister Jairam Ramesh today said the new land acquisition bill has given legal rights to tribals and farmers to reject or accept any project.
The one-million tonne Vedanta's alumina plant at Lanjigarh in the southern part of the mineral rich state, was reopened last fortnight after being shut for close to seven months due to shortage of key raw material bauxite and the local tribals' opposition to mining from the nearby Niyamgiri hills.
Failure to source bauxite from within the state might force the London-listed company to reconsider its 1-million-tonne-per-year plant, which has already been shut several times due to a shortage of the raw material.
