Construction Mirror Metal and Mining News

Aim for FY’20 - CIL to Undertake “Challenge” of 700mn-tn Output ...

Coal India Ltd has set a “difficult” production target of 700 million tonne for fiscal 2019-20, a “challenge” the mining major was ready to undertake in the wake of rising power demand, its Chairman A K Jha said. The Kolkata-headquartered company had envisaged an output of 630 million tonne for the current fiscal, but later revised it to 652 million tonne as an aspir  ...

Optimistic Outlook of Metals Sector...

A strong air of optimism rules the outlook for metals sector as a whole led by solid demand environment, favourable pricing scenario, strong cash flow generation and focus on deleveraging to improve the balance sheet, according to Centrum Research. The brokerage hosted an exclusive investor conference titled ‘The Metal Medley’ on the metals sector in Mumbai recently, which broug  ...

Tata Steel Receives Approval to set up unit in Odisha ...

Tata Steel Processing and Distribution Ltd is setting up a manufacturing unit at an investment of Rs 92 crore and it received the investment approval from the Government of Odisha. The company’s Managing Director Abraham Stephanos formally received the investment approval from Odisha Chief Minister Naveen Patnaik during a roadshow - “Odisha Investors Meet” here. The invest  ...

JSW Steel wins Deming Prize for its Vijayanagar steel plant ...

Homegrown steelmaker JSW Steel has been awarded the Deming Prize for excellence in Total Quality Management (TQM) for its Vijayanagar Works manufacturing unit in Karnataka. The Deming Application Prize is a prestigious annual quality award presented by the Union of Japanese Scientists and Engineers (JUSE) to companies that have achieved distinctive performance benchmarks through the applica  ...

JSPL at its Highest Ever Crude Steel Production of 1.3 Million Tonne ...

Jindal Steel and Power Limited (JSPL) has posted its highest ever crude steel production of 1.3 million tonne (mt) during the quarter July – September 2018. The quarterly steel production saw a 46% growth during Q2 FY 2019. Sales touched 1.27 mt, recording a rise of 53% on a year-on-year basis. The quarterly production and sales in Q2 of 2017-18 stood at 0.89 mt and 0.83 mt respective  ...

India Needs to be on Toe to Boost Aluminium Overall Production: Tapan Kumar Chand...

The country needs a dedicated national policy for aluminium to boost overall production and double per capita consumption of the metal, a top industry leader has said. Addressing delegates during the Annual National Convention of Aluminium held in Bangalore, Tapan Kumar Chand, chairman of National Aluminium Company (Nalco) said: ‘‘There is need for a National Aluminium Policy to  ...

CIL to Charge Penalties on Delaying Payment Beyond 15 Days...

Coal India will strictly implement its credit policy and levy penal interest on payment delayed beyond 15 days, and stop supply if money is not paid in a month as the company wants to bring down receivables that touched Rs 12,500 crore in April. “Although we have a policy of levying penal interest and discontinuing coal supplies if dues extend beyond a month, it was never implemented  ...

Government Insure About 2 Million Tonnes Sales Target for Coal India Limited ...

The Centre has asked Coal India to raise daily output and sales to 2 million tonnes from 1.4 million tonnes achieved in the last quarter to improve supply to power plants facing critically low stocks. The coal ministry has told the company that it needs to produce and sell 1.9 million tonnes and 1.94 million tonnes respectively throughout the year. In the June quarter, it managed daily prod  ...

Vedanta Plans to Invest Over Rs 56,000 Crore in Three Years ...

Vedanta Limited said it plans to spend up to $400 million (Rs 2,800 crore) on expansion of Electrosteel’s capacity to 2.5 million tonnes, as well as increase expenditure on technology and digital innovation to about Rs 3,500 crore. The announcements are part of a larger spending proposal of $8 billion (Rs 56,028 crore) that the natural resources major plans to implement across busines  ...

Birla Corporation to Raise Cement Capacity to 20 mt ...

Birla Corporation Limited, flagship company of M P Birla Group, would gradually raise cement manufacturing capacity to 20 mtpa over the next two to three years, a company official said. Presently, the total manufacturing capacity after acquisition of Reliance Cement is 12.5 mt, chairman of Birla Corporation Harsh Lodha said. “We will take approval from the board for expansion of capac  ...

India’s FY18 Thermal Coal Imports Raise upto 8% ...

India’s thermal coal imports rose by 8 percent and coking coal imports by about 13 percent for the year to March 31, government data showed. India’s total coal imports rose for the first time in three financial years, undermining the goverment’s plan to reduce India-bound coal shipments and cut its import bill. The value of India’s coal imports rose by 38.2 percent t  ...

Government to Develop 17 Road-cum-airstrips ...

As many as 17 facilities that can be used as roads as well as airstrips are being developed in the country, Union Minister Nitin Gadkari said. The facilities are being developed under the ambitious Bharatmala project that mainly seek to strengthen roads network in the country. Gadkari told the Lok Sabha that several projects have been taken up under the Bharatmala project. One of the best t  ...

Coal Import Call by Power Ministry Temporary...

Coal Minister Piyush Goyal has said that the recent decision of the Union Power Ministry to allow states to import coal is temporary in nature. “We are constantly trying to ramp up production. Allowing states to import coal is temporary in nature,” Goyal told when asked about the Union Power Ministry asking states to import coal in the wake of coal shortage. Union Power Minister  ...

Government to Auction 12 mineral Blocks in August, September ...

The government plans to auction 12 mineral blocks, including eight iron ore mines, in the next two months, according to an official document. Of the 12 blocks to go under the hammer in August and September, three are graphite blocks in Jharkhand, one is a limestone block in Andhra Pradesh and the remaining eight are iron ore mines in Karnataka, the document said. While the graphite and lime  ...

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