Page 3 - Mining Industry

Nifty50 firms' combined net profit seen rising 25% in third quarter

Metal and mining firms expected to lead earnings growth

CCI orders probe against IREL for abuse of dominant position

Competition Commission has ordered a detailed probe against state-owned IREL (India) Ltd, which is into mining and production of minerals, for alleged abuse of dominant position.

Govt must ensure enough mining blocks for everyone: JSPL's Naveen Jindal

He said there are challenges in mining in India that need to be taken care of through a single window system

Vedanta promoters pledge shares to raise about Rs 6,000 crore

Promoter group firms pledged 242.26 crore or 65.18 per cent shareholding in Vedanta Ltd in three facility agreements to raise the money, a Vedanta Ltd's filing showed

National conclave on mining to discuss key issues, opportunities in sector

An award ceremony for five-star rated mines for noteworthy performance will be another highlight of the one-day conclave

Metals & mining companies report record earnings in H1 of FY22

Net profit rises to Rs 82,500 crore; accounts for 20% of India Inc's combined net profit

Govt notifies amended mineral conservation and development rules

The government has notified the amended mineral conservation and development rules, a move will that will improve mine planning practices

Mineral concession amendments to raise availability, ease pricing pressure

Major changes to mining industry include allowing part surrender of mines, permitting sale of up to 50% of minerals by captive owners and easy transfer of mines

Odisha govt approves projects worth Rs 640.55 crore under OMBADC

The projects worth Rs 640.55 cr were approved under Odisha Mineral Bearing Areas Development Corporation (OMBADC) in the sectors of the development of secondary schools

Vedanta Resources reduces net debt by $300 mn in first half of FY'22

Expects to further reduce its debt by $500 million in the second half of FY'22

MEAI raises concern over rising unemployment of mining professionals in Goa

The MEAI on Tuesday raised concerns over rising unemployment of mining professionals in Goa and the lost job opportunities due to the delay in arriving at a solution to restart mining in the state

World's biggest miner fired 48 workers in two years for sexual harassment

While harassment is a problem in workplaces around the world, isolated mines can be especially risky for women

BHP has fired 48 workers for sexual harassment since 2019

Group tells Western Australian government about inquiry investigating such incidents at mining camps in the mineral-rich state.

BHP, world's largest miner, in talks to sell multibillion oil, gas assets

Group in talks to sell global oil, gas business to Australia's Woodside after shedding some of its coal assets.

Illegal mining scam: CBI carries out searches at 15 locations

The CBI carried out searches at 15 locations on Wednesday in connection with illegal mining in Eastern Coalfields Limited (ECL) in West Bengal, the agency said.

Mining that matters

India's mining industry is now aspiring to move ahead with an action plan to auction maximum mineral blocks in the approaching years

Vedanta to invest Rs 6,600 cr on Balco expansion over 18-24 months

This would be first major investment after a long gap by Vendanta in the entity it acquired by purchasing majority government shareholding nearly two decades back.

Vedanta first quarter after-tax profit jumps four-fold to Rs 4,280 crore

As of June, net debt of the company was at Rs 20,261 crore

Here come the miners, with record profits & blockbuster dividends

Five big miners could report combined earnings of $85 billion; Rio Tinto, Vale and Anglo are due to report financial results this week

Tata Steel arm, Jindal Stainless sign MoU for chrome ore mining in Odisha

Tata Steel Mining Ltd and Jindal Stainless Ltd signed an MoU to jointly unearth chrome ore locked up in the boundary between their mines located at Sukinda in Odisha's Jajpur district