Page 2 - Mining

Vedanta sees multifold jump in second quarter profit to Rs 4,615 cr

Vedanta Ltd on Friday reported a multifold jump in consolidated net profit to Rs 4,615 crore for the quarter ended September 30, 2021. The company had posted a consolidated net profit of Rs 838 crore in the year-ago period, Vedanta Ltd said in a filing to the BSE. Its consolidated income during July-September 2021 increased to Rs 31,074 crore, compared with Rs 21,758 crore in the year-ago period. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading oil & gas and metals companies. It has significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa, Namibia, and Australia.

Hindustan Zinc mined metal production rises 4% to 2,48,000 tonnes in Q2

The company's mined metal production was at 2,38,000 tonnes in the year-ago period.

JSPL to start mining at Kasia mine within a month: MD V R Sharma

Jindal Steel and Power Limited (JSPL) aims to start mining at Kasia iron ore block within a month, its Managing Director V R Sharma said. The integrated steelmaker on Thursday announced bagging of the block, which has total reserves of 278 million tonnes (MT). Speaking with PTI, Sharma elaborated on the company's plans with respect to starting operations at the Kasia iron ore mine, located about 17 km from JSPL's pellet plant in Barbil. "It is already an operational mine, we can start mining within a month once all statuary approvals are there," the MD said. He said JSPL will also put up a slurry pipeline from the pithead to its steel plant in Angul. This will help the company with 5-6 million tonnes of iron ore per year. The e-auction for the Kasia iron and dolomite mineral block was held on September 18, 2021. It was earlier owned and operated by Essel Mining and Industries. JSPL has been declared as the preferred bidder for the mine at a premium of 118.10 per cent. The mine h

Water stress poses credit risks for coal, mining and power sectors: Moody's

Water management is among the top environmental risks for countries and sectors in Asia, according to Moody's Investors Service.

Hindustan Copper undertakes projects to increase output, mining capacity

State-owned Hindustan Copper is taking requisite actions to increase the output from its mines and is also in the process of augmenting the mining capacity through expansion projects

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

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

CIL engages Accenture Solutions as consultant for digitisation of mines

State-run CIL on Tuesday said it has engaged Accenture Solutions as consultant for digitalisation of mine process in seven of its select opencast blocks for accelerated performance enhancement.

Metal & mining stocks big laggard on bourses over the long term

BSE Metal up just 164% since Jan '05 against 645% rally in Sensex

Karnataka govt allows re-opening of stone-mining, crusher units: Minister

Mines and Geology Minister said the closure of stone quarries and crusher units resulted in revenue loss

China hikes half-year rare earth output quotas to record level: Report

China is the world's dominant producer of rare earths, a group of 17 minerals used in electric vehicles (EVs), consumer electronics and military equipment

Domestic iron ore supplies may take time to ease

JSW Steel, AM/NS hold the key to iron ore supply woes

12 workers trapped week ago in China mine blast are alive: State media

The handwritten note said four of the workers were injured and that the condition of others was deteriorating because of a lack of fresh air and an influx of water

Vedanta Zinc International reopens Gamsberg mine in South Africa

Mining has started again following a closure in November when a pit wall collapsed

Mining reforms: Industry gives a thumbs up, environment concerns remain

Under the proposed reforms, captive mines would be allowed to sell 50 per cent of the minerals excavated in a year

After Oct surge, IIP again contracts by 2% in Nov despite festive season

Economists call for continuation of stimulus package in Budget

Singing star Akon enters Congo mining sector in JV with state company

DAKAR (Reuters) - A company led by American-Senegalese R&B singer Akon has signed a deal to finance a copper and cobalt mine in the Democratic Republic of Congo in a joint venture with a state miner, according to a contract published by the mines ministry.

2020, a 'gloom, doom and boom' year for metals amid Covid-19 pandemic

While Covid-19-led lockdowns across the globe destroyed demand in the early part of 2020, a supply cut-driven rally and sharp recovery in the auto sector have emerged as big themes

L&T bags orders for supply of 90 units of Komatsu Mining Equipment

Infrastructure major Larsen & Toubro (L&T) on Monday said it has receivedorders for supply of 90 units of Komatsu Mining Equipment. "The construction and mining equipment business of Larsen a Toubro... hassecured multiple orders for supply of 90 units of Komatsu Mining Equipment from Coal India subsidiaries, leading Infra companies engaged with the coal sector and customers from the cement and iron ore sectors," L&T said in a BSE filing. The company, however, did not disclose the value of the orders received. L&T MD&CEO S N Subrahmanyan said receipt of these orders from customers across various sectors "is a strong indication of the revival taking place in the mining industry, driven by the progressive and supportive policies of the Government of India." The company had recently won an order to supply 46 units of Komatsu Mining Equipment from Tata Steel. Shares of L&T were trading 0.93 per cent higher at Rs 1,159.90 apiece on BSE.

Industrial production grows 0.2% in Sep; turns positive after 6 months

The industrial output grew by 0.2 per cent in September, according to the Index of Industrial Production (IIP) data