In first critical mineral auction, no bidder for J&K lithium block
These seven blocks pertain to critical minerals, such as Glauconite, Graphite, Nickel, Platinum Group Elements (PGE), Potash, Lithium, and Titanium. They are spread across Bihar, Jharkhand, Tamil Nadu, Uttar Pradesh, and Jammu and Kashmir (J&K).

Government allows UAE's Adnoc to export oil from Indian strategic storage
The government has allowed Abu Dhabi National Oil Company (Adnoc) to export crude oil it has stored in underground strategic storages at Mangalore to give operational flexibility to the foreign firm, an order of the Ministry of Commerce and Industry said on Saturday. At present, crude oil, which is the raw material for producing fuels like petrol and diesel, is not allowed to be exported except through the state-owned Indian Oil Corporation (IOC).

Up to 15% of India’s green hydrogen mfg expected to shift out due to global incentives: Experts
New Delhi: India’s nascent green hydrogen market is expected to see bumps in its journey due to incentives offered by the United States and Europe, according to experts while several domestic companies underlining this issue as well.

Vedanta touts USD 6 bn investment pipeline as growth driver
Mining conglomerate Vedanta Ltd will invest USD 6 billion across businesses that span from aluminium and zinc to iron ore, steel and oil and gas as it looks to add at least USD 2.5 billion to annual EBITDA, its executives said in an investor meeting. It has a pipeline of more than 50 active projects and expansions to drive growth, which is expected to generate incremental revenue of over USD 6 billion and boost EBITDA from an expected USD 5 billion in the current fiscal ending March 31 to USD 6 billion in the next and up to USD 7.5 billion by FY27, they added.

Miners urge Centre not to impose export duty on low grade iron ore
 

Auto players line up array of new EV models in coming years on govt push to green mobility
The Indian auto industry is gearing up to roll out an array of electric vehicle models over the next few years amid a renewed push by the government to encourage environment-friendly mobility solutions with the unveiling of a new policy. Mass market players like Maruti Suzuki, Hyundai, Mahindra & Mahindra and Tata Motors are lining up new models to cater to the demand across segments.

Rising imports, demand slowdown ahead of polls weigh on Indian steelmakers
Surge in imports coupled with a blip in demand ahead of the upcoming general elections is weighing on steel firms.
 

Jindal Stainless, IIT-Kharagpur partner to work on metallurgical projects
Jindal Stainless Ltd and IIT Kharagpur will jointly work on metallurgical projects like primary alloy production and materials characterisation.

Global steel output up by 3.7% in February
Global crude steel production went up by 3.7 per cent in February 2024 to 148.8 million tonnes (mt) against 143.6 mt in the corresponding period a year ago. For the January-February period, production in the 71 nations that account for 85 per cent of world steel output was pegged at 306.9 mt, up 3 per cent. According to the World Steel Association, top producer China’s output increased to 81.2 mt in February, up by 3.5 per cent from the year-ago period. India reported a surge of 11.4 per cent rise in production at 11.8 mt. 

Gold price slips Rs 10 to Rs 66,810, silver up Rs 100 at Rs 77,900
The price of 22-carat gold also slipped Rs 10 with the yellow metal selling at Rs 61,240 per 10 grams.
 

Indians worship gold unlike anywhere else, says Bvlgari CEO
"India is among our top 10 markets, but soon it will be No.3," claims Jean-Christophe Babin, the group chief executive officer of Bvlgari. “There’s a lot of appetite for high jewellery here. We just need more luxury malls to set up shop."

Tata Power to establish EV charging solutions in Ayodhya
New Delhi: Tata Power, one of the leading players in the electric vehicle (EV) charging infrastructure, and Ayodhya Development Authority (ADA) have made Ayodhya EV ready by establishing EV Charging points in and around the city. This strategic partnership aims to accelerate the adoption of electric vehicles and promote sustainable transportation solutions.

Alternative energy source: can India ditch fossil fuels with batteries, hydrogen, CNG, and biofuels?
In the pursuit of a sustainable future, the global movement to reduce carbon emissions has gained momentum, driving nations to explore alternative energy sources beyond traditional fossil fuels, and addressing the world’s energy storage challenges. India stands at a crossroads, contemplating a shift towards batteries, hydrogen, CNG, and biofuels to pave the way for a cleaner, greener future.

NMDC resumes operations at India’s only mechanised diamond mines in Panna
New Delhi: Operations have resumed at India’s first and only mechanised diamond mining project at Majhgawan, some 15 km from Panna town in Madhya Pradesh. NMDC, the country’s largest iron-ore miner and a CPSE under the Ministry of Steel, obtained all the requisite approvals, and operations resumed on March 11 this year, sources told businessline. There was no production in the mines from FY22, as per annual report of the company. Losses from the diamond mining project for the first nine months stand at close to ₹50 crore.

Miners urge govt not to impose export duty on low grade iron ore
New Delhi: Miners’ body FIMI has urged the government not to impose any export duty on low-grade iron ore, stating that any such move would cause a significant loss of state revenues and employment and also affect foreign exchange earnings.

Coal production crosses 1 billion tonne
India’s coal and lignite production crossed 1 billion tonne as of March 22, surpassing last fiscal’s output of 937.2 million tonne 25 days in advance, according to data from coal ministry.

Mahanadi Coalfields Ltd crosses 200 MT coal production mark in FY24

The MCL has mining operations in Odisha's Angul, Jharsuguda and Sundergarh districts.

Sterlite Power Transmission may consider listing post demerger: MD
New Delhi: Sterlite Power Transmission Ltd (SPTL), which will retain only its manufacturing vertical following the proposed demerger of the transmission business, may explore a public listing as part of its fundraising plans, said managing director Pratik Agarwal.

Discoms improve renewable energy purchase compliance
Record-low prices of renewable energy certificates (RECs) on power exchanges have empowered power distribution companies (discoms) to enhance compliance with their renewable purchase obligations (RPOs) in the current financial year.