Federation Of Indian Mineral Industries

The government should raise import taxes to 10%-15% on several aluminium products, including scrap to 10% from 2.5%, the Federation of Indian Mineral Industries (FIMI) said in the note addressed to India's Ministry of Finance.

FIMI urges Centre to withdraw protective support provided to domestic steel players

Union Transport and MSME Minister Nitin Gadkari last month said that he had sought Prime Minister Narendra Modi's attention towards 55 percent hike in steel prices by players during the past six months, making projects unviable.

Need to introduce mechanism to monitor, regulate steel prices: FIMI

According to the Federation of Indian Mineral Industries (FIMI), the hike in the prices of steel is leading to "windfall gains by few steel players" at the cost of the entire Indian economy, including upstream mining industry and downstream user industries.

Time of free lunches is over: Piyush Goyal to mining industry

Goyal, who also heads ministries of Power, Coal and New and Renewable Energy, said the industry should look at an era of transparency, fair play, concern for labour and health and happiness of the people impacted by mining.

Indian iron ore exports needs tax relief to compete globally

Indian iron ore export mining industry, after its absence for four years from the international market, needs tax relief to compete globally, an industry official has said

Six months on, few takers for auction of mineral blocks

Six months after auction process was initiated for 43 mines across 12-mineral bearing states, only six blocks have managed to find buyers

India's top ports see a huge 38% decline in iron ore handling

Miners body FIMI said the iron ore exports have taken a nosedive and actual exports done by ports are even lesser as the 8 MT ore handled by ports in April-December period also include domestic transportation of the cargo.

Exploration of mines important before auction: Report

A joint report by Ernst and Young (EY) and industry body Federation of Indian Mineral Industries (FIMI) points out that due to various constraints, Geological Survey of India (GSI) has been unable to complete the exploration for most minerals, making it difficult for states to properly quantify them.

FIMI wants scrapping of export duty on iron ore fines

Miners' body Federation of Indian Mineral Industries (FIMI) has sought bringing down export duty on low-grade iron ore and pellets to nil and raising import duty on pellets to 30 percent in the Budget.

Talks underway on revision of royalty rates on coal

The rate of royalty on coal is currently at 14 percent ad-valorem.

As mining curbs bite, India offers mkt to glut-hit iron ore

The country may ship in up to 45 million tonnes over the next three years as home-grown iron ore output falls short of domestic steel production needs, an executive at an influential industry group said.

Tax-cut plan set to revive India's iron ore exports

India's potential tax cut on iron ore exports could double its shipments of the steelmaking ingredient in the current year compared with industry estimates.

MinesMin to seek reduction in iron ore fines export duty

Speaking at the annual general meeting of miners' body Federation of Indian Mineral Industries (FIMI), mines minister Dinsha Patel said he would also urge the railways ministry to reduce the freight for transportation of fines for export as well.

Steel industry may see rise in operational cost: FIMI

The steel industry may see further rise in its operational cost, along with the already high financing cost in the near future, as they are forced to use low-grade iron ore as raw material due to halting of operations in high-grade mines.

Reduce export duty on iron ore fines to 5% in Budget: FIMI

Miners' body FIMI has pitched for a drastic reduction in export duty on low-grade iron ore to 5 per cent from the present 30 per cent saying that the current rate has rendered shipments unviable.

India likely to import 15 mn tonnes iron ore: FIMI

The country is likely to import around 15 million tonnes (MT) of iron ore this financial year, following the virtual halt of mining operations in different parts of the country, a top industry official said today.

India likely to import 15 MT iron ore this fiscal: Fimi

"The country is likely to import around 15 million tonnes (MT) of iron ore this financial year, following the virtual halt of mining operations in different parts of the country," a top industry official said on Friday.

Rail Budget: Govt to reduce railway freight on iron ore export by 30%

The governement has reduced the railway freight on iron ore meant for exports by 16% effective Tuesday, an industry body official said, a move expected to help exporters who have come under pressure after an increase in export duty in January.

Union Mines Ministry not in favour of hike in export duty

The Union Mines Ministry has expressed its reservation over Finance Ministry's decision to increase export duty on the low grade iron ore in the country, a senior official said today.

Iron ore exports dip 22% in April-July: FIMI

Exports of iron ore declined by about 22% to 25.2 million tonnes in April-July due to the ban on its shipments from Karnataka, industry body FIMI today said.

'Royalty burden may hit non-coal miners' profit by Rs10Kcr'

Miners body, Federation of Indian Mineral Industries today said non-coal miners' bottomline may shrink by around Rs 10,000 crore as a fallout of the 100% royalty sharing provision made in the proposed Mines and Mineral (Development and Regulation) Bill, 2011.

FIMI explores potential of Singapore as trading hub

The Federation of Indian Mineral Industries (FIMI) today explored the potential of using Singapore as a major trading hub for Asian markets with the city state's two trade promotion agencies.

India iron ore exports fall for 8th month, ups freight rate

India's iron ore exports fell for the eighth straight month in February because of a continuing ban on shipments by its key Karnataka state and exports are likely to face further pressure as the country hikes freight rates again.