The boards of Raymond's various subsidiaries have approved a demerger of its engineering business to allow it to expand into sunrise sectors like aerospace, defense, and electric vehicle components. The merger will consolidate Raymond's engineering and MPPL businesses, aiming for profitable growth and segregation ..read more

India's mineral output surged 8% in February. The mining index reached 139.6, up by 8%. April-February growth stood at 8.2%. Key highlights include gold production, copper conc growth, and negative growth in iron ore, lead conc ..read more

India's coal production in April 2024 reached 78.69 MT, with Coal India Ltd contributing 61.78 MT. Captive/others production also increased, leading to a rise in total coal dispatch to 85.10 MT ..read more

India relies heavily on imports for meeting its requirement for critical minerals such as lithium, niobium and rare earth elements. These minerals find application in new-age technologies such as those used in electric vehicles. pharmaceuticals and defence manufacturing. Mineral mining in the country is currently governed by the Mines and Minerals (Development and Regulation) Act. Since critical minerals require more expertise and have traditionally not been explored or extracted in the country, the government is of the view that an enhanced support framework is required to encourage it, accor ..read more

Vedanta Ltd intends to divest its steel business only if it receives the appropriate valuation, according to Chairman Anil Agarwal. Despite a strategic review initiated in June 2023 and plans for a demerger by March 2024, Vedanta remains committed to running the profitable steel segment ..read more

The Vedanta Group, led by Chairman Anil Agarwal, revealed plans to invest USD 20 billion in its Indian businesses over the next four years. Agarwal highlighted a focus on technology, electronics, and glass sectors alongside other group activities. He expressed a desire to support Bihar's growth and emphasized the necessity of robust policy support ..read more

Company officials said JSL expects its debt to rise by Rs 300-500 crore, over the existing Rs 4,800 crore, by the end of the current fiscal due to the expansion plans. JSL said it will be developing and operating a stainless steel melt shop (SMS) in Indonesia with an annual production capacity of 1.2 MTPA. This will increase the company’s melting capacity by over 40% to 4.2 MTPA at a Rs 700 crore investment ..read more

Jindal Stainless unveiled a Rs 5,400 crore investment plan focusing on expanding its melting and downstream capacities. This includes a joint venture in Indonesia for a stainless steel melt shop, expected to increase melting capacity by 40%. Additionally, investments in Odisha and a stake acquisition in Chromeni Steels aim to enhance operations ..read more

Coal India Ltd (CIL) reported a 7.3% increase in coal production to 61.8 million tonnes (MT) in April compared to 57.6 MT in the same period last year. CIL, which contributes over 80% of domestic coal production, also saw a 3.2% rise in coal offtake to 64.3 MT. Despite producing 773.6 MT in FY24, CIL fell short of its target of 780 MT ..read more

Mines Secretary V L Kantha Rao in his address on Monday had said that the auction of offshore mines will begin in three months' time. The Offshore Areas Mineral (Development and Regulation) Act, 2002 has been amended to provide an auction route for awarding production leases for offshore minerals ..read more