Explore Business Standard
Don’t miss the latest developments in business and finance.
Mining Industry
State-owned CIL on Friday said it has conceptualised a mega digital transformation programme to "reimagine" its mining operations. The move will help achieve the target of 1 billion tonnes (BT) of coal production by FY26. The coal behemoth launched the 'Project Digicoal' and a 'Digital War-Room' to monitor and assist this project at its headquarter in Kolkata. This project will help Coal India's (CIL) mining operations become future ready using advanced digital solutions, the public-sector unit said in a statement. "With the launch, the project went live in seven coal mines of CIL encompassing Gevra, Dipka and Kusmunda mines in SECL and Nigahi, Jayant, Dudhichua and Khadia mines in NCL," it said. CIL has roped in Accenture as its consultant to design and implement the project. "Launch of 'Project Digicoal' is an important milestone of digitalisation in CIL. This project will help make the processes efficient," CIL Chairman Pramod Agrawal said while launching the project. "The pr
The government is likely to put on sale six mineral blocks, including four iron ore mines, in the current month. The move would give a boost to mining sector's contribution to the country's gross domestic product. The four iron ore blocks, situated in Chhattisgarh, are likely to be auctioned on Tuesday, according to the mines ministry. The notice inviting tenders for the mines -- Chhitpuri B iron ore block, Gomter Wakeli, Bijapur, Hahaladdi, North Bastar Kanker, Lohhater, North Bastar Kanker -- were floated last year. The auction of Bandiamottu block in Andhra Pradesh, which has lead and associated minerals such as nickel, cobalt and copper, is also likely to be conducted in February. The notice inviting tender for the block was issued in December last year. Besides, the auction of Udagi Block -- a limestone mine in Karnataka -- has also been extended to be held in February, the ministry said. Since the new procedure for auctioning of mineral blocks was introduced in 2015, a t
The government is in the process of identifying mineral blocks like nickel in the sea and would gradually put them on sale, mines secretary Vivek Bharadwaj said on Friday. The mines ministry is amending the Offshore Areas Mineral (Development and Regulation) Act, 2002 and has sought the stakeholders' views on the same. "Because the critical minerals are becoming even more critical, there is this thought that why are we not mining in the oceans...Unfortunately we have not been able to mine the oceans. Now we are amending the Act. It is in public domain, open for comments for the industry, the stakeholders," the mines secretary said during Metal & Metallurgy Expo-2023 organised by CII. The ministry, he said, is in the process of identifying these blocks in the sea and as there are no stakes in there, the auction will be done by the government of India. "That will also be a huge opportunity for industry, a totally new area of operations," he explained. Critical minerals such as ...
Vedanta Ltd on Friday reported a 60.8 per cent decline in consolidated net profit at Rs 1,808 crore for the quarter ended September 30 on the back of higher expenses. The company had posted a consolidated net profit of Rs 4,615 crore in the year-ago period, Vedanta Ltd said in a regulatory filing. The company's expenses during the July-September period increased to Rs 33,221 crore from Rs 23, 171 crore in the year-ago period. Its consolidated income during the quarter under review increased to Rs 37,351 crore from Rs 31,074 crore last year. Vedanta is a diversified natural resources company.