Iron ore price recovery, steady demand positive for state owned NMDC
As the largest domestic producer of iron ore, NMDC Ltd is expected to produce around 45 million tonnes (mt) of ore in FY24. Its 11MFY24 production is around 40.2 mt. In FY25, it could hit 50 mt and it may reach 55 mt by FY26. The PSU has capex plans for multiple projects, which should improve the product mix and augment capacity to 100 mt for FY30.
 

NMDC to stock and market steel for Nagarnar steel plant
New Delhi: NMDC, the country’s largest iron-ore miner, has proposed to step-in and act as a stockist-cum-distrbutor for steel made by its recently carved out company, NMDC Steel Ltd (NSL). If allowed, NMDC’s financial exposure in the venture will be in the range of ₹240–300 crore “at any given point of time”.

AM/NS India will have 'robust financial discipline' while expanding: CFO
AM/NS India, a joint venture between ArcelorMittal and Nippon Steel, is in the middle of a major expansion. AMIT HARLALKA, chief financial officer of the AM/NS India, in a video interview told Ishita Ayan Dutt about plans for capital expenditure (capex) and funding.

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Vedanta hits 52-week high on positive outlook

The bullish verdicts also continue to be driven by the company’s prioritization of deleveraging its balance sheet, planned capital expenditure and benefit arising from commodity upcycle.

Gold price rises to Rs 72,110, silver price climbs Rs 100 to Rs 85,600
The price of 22-carat gold rose Rs 10 with the yellow metal selling at Rs 66,110.
 

GoMechanic partners with ExxonMobil for engine oil technology
New Delhi: GoMechanic has partnered with ExxonMobil Lubricants Pvt. Ltd. (ExxonMobil) for engine oil technology.

Coal ministry readies busy 100-day agenda for Modi 3.0
The first 100-day agenda of the Narendra Modi government if voted to power again would include operationalising 12 new coal mines, near-exclusive transfer of coking coal blocks to steel companies willing to set up washeries via auction route, source in the know told FE. A policy for the critical minerals other than those covered under a recent policy is also in the works, they added.

India’s renewable energy sector achieves record capacity addition in FY24, led by solar power
Chennai: The fiscal year that ended on March 31, 2024, proved to be a strong year for the country’s renewable energy sector. It achieved the highest-ever annual new capacity addition to the grid, spurred by the solar power segment, which accounted for 81 per cent of the addition. The total new capacity added during FY24 stood at 18,485 MW, which was higher than the capacity added in FY23 at 15,274 MW, the previous highest annual addition. On average, the renewable energy sector added about 15,950 MW per annum in the past three years – FY24, FY23, and FY22.

ReNew surpasses 10 GW capacity with record renewable asset additions in FY24
ReNew surpasses 10 GW of gross renewable energy capacity
The Hindu Business Line

‘Global steel demand to return to growth in 2024’