News Analysis - Mining

  • Ore Export to China Hit (March 13, 2007)
    Responding to concerns from environmental groups, domestic steel businesses, and manufacturing houses, the federal government had imposed an export duty of Rs. 300 per ton but Chinese importers are boycotting Indian ore demanding exporters absorb the duty.<More>

  • Mining Policy to Attract FDI (December 13, 2006)
    A new mining policy is being formalized aiming to attract more foreign direct investment (FDI) through joint ventures which is now only USD 150 million and the new target investment value is Rs. 100,000 crore (USD 22.22 billion) in the next 2 years.<More>

  • Demands to Phase-Out Ore Export (November 24, 2006)
    The Federal Steel Ministry, at variance with the Mining and Commerce Ministries, demanded that iron ore exports be phased out since “current ore reserve is slated to last only 60 to 70 years” and this policy could jeopardize the stability of domestic steel units.<More>

  • Y-on-Y Industrial Growth Higher (October 13, 2006)
    An upsurge in manufacturing took cumulative industrial production from April-August to 10.6 compared to 8.7 last year and August saw a 9.7% rise compared to 7.6% but lower than July’s growth of 12.7% but analysts say that consumer demand has not slacked.<More>

  • No Ore Exports Say CMs (August 28, 2006)
    The Chief Ministers (CMs) of Karnataka, Chhattisgarh, and West Bengal (WB), have written to Prime Minister Manmohan Singh opposing proposals to liberalize iron ore exports warning disastrous effects on the fast growing Steel industry <More>

  • Commies Want Halt in Mineral Exports (July 11, 2006)
    Communist allies of the Federal Government demanded an immediate stop to indiscriminate export of minerals, particularly iron ore as mineral deposits were exhaustible and wanted a halt in moves to liberalize export of minerals.<More>

  • Ore Export Cut to Japan, Korea (July 03, 2006)
    Ministry of Commerce Additional Secretary Christy Fernandez announced fresh agreements where export of iron ore to Japan and Korea will be cut by 50% to a maximum of 6.78 million tons (mts) this fiscal year.<More>

  • Steel Projects Suffer as Govt Plans Ore Export (May 17, 2006)
    Major steel projects announced largest year with much publicity have reportedly not started because of administrative difficulties and iron ore supply issues while the Government plans to export high quality Iron Ore to China and Japan.<More>

  • Governments approves Iron Ore Exports (May 01, 2006)
    In a shortsighted move, the Federal Cabinet announced its decision to allow state-owned MMTC Corp to export high quality iron ore to China, Japan, and Korea; the only good news of the order is that it reduced the quantity of iron ore that it can export.<More

  • Govt to Control Export of High Quality Iron Ore (March 16, 2006)
    Government is likely to control the export of high quality iron ore to build domestic reserves so a string of major steel projects can achieve their targets.<More>

  • 100% FDI in Mining (January 18, 2006)
    The Federal Minister of State for Coal and Mines Dasari Narayana Rao said that a Group of Minister (GoM) has recommended allowing 100% Foreign Direct Investment in mining.<More>

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