Metals & Mining
DVC, six firms win coal blocks in 12th commercial mining auction
Damodar Valley Corporation and Orissa Alloy Steel Pvt Ltd are among the seven companies that have secured coal blocks in the 12th round of commercial mines auction. These blocks, with a combined geological reserve of around 1,761.
Coal India production drops 6% in April-July period
Coal India Ltd (CIL) reported a 6% drop in production, totaling 229.8 million tonnes, during April-July, compared to 244.3 MT last year. July's output also fell to 46.4 MT from 55 MT. Analysts attribute this to monsoon disruptions. Despite the dip, the Coal Minister assures no coal shortage this monsoon.
Vedanta to cut cost of financing to 8.5%, says company CFO Ajay Goel
Vedanta aims to reduce its cost of financing by at least 1 percentage point during the current fiscal year, bringing it down to around 8.5%, according to CFO Ajay Goel. The cost has already dropped from 9.6% in March to 9.2% in June.
L&T bags big-ticket EPC contract from Hindustan Zinc
Larsen & Toubro has been awarded a significant ECP contract by Hindustan Zinc for its Debari Smelter Complex in Rajasthan. This 'large' order, valued between Rs 2,500 crore and Rs 5,000 crore, involves establishing a 250 KTPA Leaching, Purification & Cellhouse facility and a 125 KTPA Jarosite Circuit. The project will be undertaken at Hindustan Zinc's Debari Smelter Complex.
US hits copper with 50% tariff but India isn’t too worried
The United States, through a recent executive order, will impose a 50% tariff on semi-finished copper products starting August 1, citing national security concerns. While India's copper exports to the US, valued at $360 million in FY25, will become more expensive, analysts believe the overall impact on India will be minimal.
Inside Andhra's monsoon diamond rush: Farmers, fortune-seekers and Rs 5 crore finds
Every monsoon, the promise of diamonds draws crowds to Andhra Pradesh's fields. Villagers and prospectors armed with simple tools scour the land after rains, hoping to unearth valuable stones. While fortunes are occasionally found, the diamond rush brings both dreams and disruption to the rural landscape, echoing the legacy of the famed Golconda mines.
Lloyds Metals: Building a people-first culture for the future of iron and steel
Lloyds Metals and Energy Limited prioritizes its employees. The company fosters a culture of freedom and trust. This encourages initiative and problem-solving. All employees benefit from an inclusive ESOP program. Career growth focuses on unlocking potential through upskilling. Lloyds Metals emphasizes community commitment. They prioritize local hiring and women's empowerment.
Global coal mine additions fall to decade low in 2024, yet oversupply risk looms from China
Global Energy Monitor reports a 10-year low in new coal mining capacity for 2024, decreasing by 46% from 2023. While construction slowed in China and India, future projects, especially in China, still pose an oversupply risk. Proposed mines could exceed 2 billion tons per year, jeopardising climate targets requiring significant coal production cuts.
India discovers rare earth in MP coalfields as China curbs squeeze industries: Minister
India has discovered rare earth elements in Madhya Pradesh's Singrauli coalfields. These elements are crucial for clean energy and electronics. Coal India is researching their extraction. The focus is on developing indigenous technology. This aims to reduce reliance on imports, especially from China. Restrictions on Chinese exports could impact Indian manufacturing. Research collaborations are underway with various institutes.
China’s Rare Earth Grip: Supply shock may hit Indian industry, exports and bank books
India’s core industrial sectors, including transport, electronics, and machinery, are significantly dependent on rare earth imports, primarily from China. A recent SBI analysis warns that Chinese export curbs could disrupt domestic production, affect exports, and impact banks exposed to these sectors. Magnet imports—closely tied to rare earths—have surged, highlighting concentrated usage in automotive and electrical industries.
Must Watch
Coal miners' PF money put in DHFL despite red flags: PAC
Parliament's Public Accounts Committee (PAC) has criticized the Coal Mines Provident Fund Organisation (CMPFO) for investing in DHFL debentures despite its poor reputation. The PAC report highlights a failure to redeem debentures promptly, resulting in a significant loss of ₹315.35 crore. The committee recommends a forensic audit of DHFL to investigate fraudulent activities and identify responsible individuals.
Adani to partner with MetTube for copper tubes business
Adani Enterprises is set to divest 50% of its copper tubes business to MetTube Copper India, aiming to enhance domestic copper tube production. Simultaneously, Adani Enterprises will acquire a 50% stake in MetTube Copper India. This strategic move seeks to reduce India's dependence on copper tube imports.
Vedanta declared as 'preferred bidder' for iron ore mining in Karnataka
Vedanta Ltd. has been declared the 'Preferred Bidder' for the Janthakal Iron Ore Mine by the Karnataka government, following a tender process initiated on October 30, 2024. The government's notification confirming Vedanta as the preferred bidder was issued on July 22, 2025, marking a significant step in the company's acquisition of the mining license.
Coking coal hits five-month high on government mine inspections
Coking coal futures in China surged due to government inspections on coal mine production, raising concerns about potential supply disruptions, with the most active contract hitting its upper limit. Iron ore prices, however, retreated from recent highs despite news of a massive hydropower project in Tibet, leading traders to unwind long positions.
Lloyds Metals to invest Rs 40,000 crore more in Gadchiroli
Lloyds Metals and Steel plans to invest over Rs 40,000 crore in Gadchiroli, Vidarbha, over the next five years, according to MD B Prabhakaran. The investment includes a steel plant and other units, with Rs 5,000 crore already invested. The company aims to build a beneficiation plant and a steel plant, generating 30,000 jobs.
ET Analysis: India counters China’s fertilizer export freeze with help from Morocco, Saudi Arabia
India has averted a fertilizer crisis triggered by China’s abrupt halt of DAP exports, seen as a supply chain weaponisation coinciding with Operation Sindoor. Through diplomatic efforts, India secured alternative supplies from Saudi Arabia and Morocco, with potential support from Russia.
