Mining Industry

China has for years been the dominant buyer and a key source of funding, as it sought to secure supply for its rapid industrialization. But as tensions with the West have mounted, the mining industry is now facing increased pressure to look elsewhere.

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.

As India now begins import of sand, Minister says ‘baalu’ most discussed item these days

As is the case with mining of several minerals in India, sand mining has also become a victim to mafia and their illegal ways that have brought severe damage to local ecology and wildlife.

Mining crisis in Goa pulls primary sector growth into negative

The report, tabled in the Legislative Assembly here yesterday, stated that the growth in the primary sector slipped largely due to continued crisis in state's major revenue earner iron ore mining industry.

'Mining industry hit due to fall in global iron ore prices'

World's largest steelmaker ArcelorMittal had said last month that it expects iron and steel prices to remain under pressure through out this calendar year.

Government wants mining to restart from October: Goa CM

Parsekar said the government is keen on mining operations to resume from October this year and will take all possible steps in this regard.

Mr. Dev Shetty, COO, Gemfields Conferred with Indian Achiever Award `Bharat Gaurav`

Mr Dev Shetty, Chief Operating Officer of Gemfields - the world’s largest supplier of coloured gemstones, was recently felicitated with ...

Goa mining sector seeks revival; wants SC to clarify ban

The mining industry in Goa wants the Supreme Court (SC) to clarify regarding the ban on mining activity. The state has been battling with economic woes as the sector contributes almost 35 percent of Goa‘s gross domestic product (GDP).

Steelcast posts 36% jump in Q1 net profit at Rs 4 cr

Steel casting maker Steelcast posted a 36 percent surge in net profit at Rs 4 crore against Rs 2.95 crore in the corresponding period last year.

Ore export duty rollback will kill steel biz: ASSOCHAM

Industry body ASSOCHAM on Monday cautioned the government against renewed demand of a section of mining industry for reviewing export duty structure on iron ore saying it would have an adverse impact on the steel sector.

GSPCB refuses operating consent to 107 mining leases

The mining industry in Goa has been hit by another setback with the Goa State Pollution Control Board (GSPCB) refusing operating consent to all 107 mining leases in the state under the Air and Water Pollution Control Act.

Budget 2012: Will FM revive the ailing mining & steel sector?

The mining sector's key expectation of the industry is the introduction of a deduction for expenditure on mine closure and the steel industry’s key demand is the grant of infrastructure status.

Low grade ore demand from China helped Goa's mines

Iron ore exporters from Goa today claimed that the demand for low grade of ore in China has helped to prolong the life of mining industry in the state.

Mining industry in Goa be nationalised: INTUC

Indian National Trade Union Congress (INTUC), a labour arm of Congress, today demanded that mining industry in Goa be nationalised.

Goa's mining industry upset over hike in duty on iron ore

Goa's mining industry is upset over the union budget hiking export duty on iron ore by 5% when the industry had pleaded to scale it down. Similarly, the state tourism industry is in a rude shock after service tax was made applicable to hotel accommodation above Rs 1,000 per day and AC restaurants serving liquor.

Mercator Lines to invest Rs 250 cr; stk gains

Mercator Lines touched an intraday high of Rs 43.70 and an intraday low of Rs 42.30. At 11:30 hrs the share was quoting at Rs 43.50, up Rs 0.90, or 2.11%.

Caterpillar posts stronger than expected profit

Caterpillar Inc reported a higher-than-expected quarterly profit and raised its sales forecast, sending its shares to an all-time high, as rising commodity prices increased mining industry demand for its earth-moving equipment.