In Part One, we explored India’s interest in Mongolia’s natural resources. Media reports suggest that a consortium of four state-owned Indian companies comprising SAIL, Nalco, Hindustan Copper and Mineral Exploration Corp. has been shortlisted last month to invest in new gold and copper deposits in Afghanistan. Two private players — Monnet Ispat & Energy and [...]
Not surprisingly, Indian steelmakers are looking towards mineral-rich Mongolia to get in on the action of the huge mineral wealth in that country. According to an Economic Times report, the state-owned Steel Authority of India Ltd. (SAIL) is considering replicating its successful public-private approach in both Mongolia and Afghanistan. SAIL has signed a Memorandum of Understanding [...]
India’s industry body, the Federation of Indian Chambers of Commerce and Industry (FICCI), has suggested privatization of giant miner Coal India Limited (CIL), while expressing concern about the country’s energy security, reports The Hindu. The report says that FICCI president RV Kanoria has called for radical reforms to break the monopoly of state-owned CIL. FICCI [...]
Sesa Goa, India’s largest private-sector producer and exporter of iron ore, has plans to begin exploration work sometime later this week in the Liberia’s mines for an iron ore project, reports Business Line. According to the report, in August 2011, Sesa had acquired a 51-percent stake in Western Cluster Limited, Liberia (WCL), which has mining [...]
Continued from Part One. India’s Coal Minister Prakash Jayaswal recently informed the lower house of the parliament (Lok Sabha) that there is a wide gap between the availability of coal and the commitments made by CIL through fuel supply agreements (FSAs) and letters of assurance (LOAs) for supply of coal. Coal India Ltd. Can’t Deliver [...]
The Indian federal government is working on a proposal under which state-owned Coal India Ltd. (CIL) would engage private sector companies to undertake mining on behalf of the coal miner, reports Business Standard. A PTI report published in the newspaper says that the government move is a result of criticism for its inability to meet [...]
Riding on the back of Stuart’s aluminum production story last week, India‘s state-owned National Aluminium Co. (Nalco) announced that aluminum output dropped in 2011-12 to 413,000 metric tons against 444,000 metric tons in the previous financial year, according to a Business Line report. The company cited lower coal supply as the main reason for the [...]
by Lisa Reisman on April 12, 2012
Style: Industry News
Category: Ferrous Metals, Metal Prices, MetalMiner IndX, Non-ferrous Metals
Keywords: Aluminum, China, Coking Coal, Ferro Alloys, India, Iron Ore, Japan, LME, Nickel, Scrap Metal, Stainless Steel, Steel, USA
Chinese 304 Stainless Steel Scrap Prices Fall 3.7 Percent Chinese 304 stainless steel scrap saw the biggest price shift of the day in stainless prices, dropping 3.7 percent on April 11, 2012. For the fifth consecutive day, Chinese 304 stainless coil prices held flat near $3,000 per metric ton. Chinese 316 stainless coil prices saw [...]
