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News on Medial
Hindalco won't be participating in coal mine auctions anymore: MD Satish Pai
Money Control
·
1y ago
Medial
Hindalco Industries, a metals and mining company, will no longer bid for coal mines as it shifts focus towards renewable energy sources and cost reduction. The availability and efficiency of coal mines directly impact Hindalco's production capacity and competitiveness. Managing Director Satish Pai stated that the company will focus on critical minerals exploration within India. Hindalco has enough coal reserves for the monsoon and expects costs to decrease in Q1FY25. The company has set a capex of Rs 6,000 crore for FY25, mainly for ongoing expansion plans, to be fully funded by internal accruals.
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Related News
America First gives an edge for Novelis in US | Company Business News
Livemint
·
9m ago
Medial
The election of Donald Trump as the next US president is expected to benefit aluminium maker Novelis Inc., according to Satish Pai, managing director of parent company Hindalco Industries. Pai states that the Trump administration will be good for Novelis since it produces metal in the US for the US market. Though Novelis has recently faced challenges, including a 3% drop in EBITDA for the quarter, the company is well-positioned to deliver strong long-term performance as demand recovers and its Bay Minette plant becomes operational. Hindalco beat market estimates with a 78% YoY surge in net profit for Q2 2026.
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JSW Steel eyes acquisition of 20% stake in Australian coal mine
Money Control
·
1y ago
Medial
Indian steel company JSW Steel is reportedly in talks to acquire a 20% stake in the Blackwater coal mine in Australia, owned by Whitehaven Coal. The deal is estimated to be worth between $750 million and $1 billion. The Blackwater mine is one of the largest open-cut metallurgical coal producers in Australia's Bowen Basin. JSW Steel has been actively seeking to secure its coking coal supply and increase its production capacity. Other interested parties in the Blackwater mine include the AvidSys Group and Japanese trading houses Itotchu, Marubeni, and Sojitz.
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Gevra coal mine gets environmental nod for expansion
Livemint
·
1y ago
Medial
The Gevra mine in Chhattisgarh, operated by SECL, has received environmental clearance to increase its production capacity to 70 million tonnes per annum. This expansion will make it the largest coal mine in Asia, surpassing Indonesia's Sangatta mine. Currently, Gevra is already the largest coal mine in India, with a production capacity of 52.5 million tonnes per year. The expansion aligns with India's goal of becoming self-sufficient in coal production and reducing its reliance on imports for power generation by FY26. SECL aims to increase its coal production to 200 million tonnes this fiscal year.
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Hindustan Copper Ltd to bid for critical mineral, REE blocks with IOCL, GAIL, RITES: Top official
Economic Times
·
1m ago
Medial
Hindustan Copper Ltd, a state-owned enterprise, intends to bid for critical mineral and rare earth element (REE) blocks in collaboration with PSUs like IOCL, GAIL, and RITES. This move is part of its diversification strategy. The company also plans to partner with Coal India Ltd for copper and critical minerals exploration in Chile. Hindustan Copper aims to broaden its operations beyond copper by participating in mineral block auctions and infrastructure development.
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Coal miners spent Rs 3,000 cr on progressive mine closure in 3 years: Official
Economic Times
·
1m ago
Medial
Over the past three years, coal mine operators in India have spent about Rs 3,000 crore on progressive mine closure, aided by the Coal Controller's efficient oversight. This includes measures to ensure accountability every five years, not just at the mine's end. Additionally, the government has auctioned numerous mineral blocks to bolster the mining sector, resulting in a historic milestone of producing over 1 billion tonnes of coal and reducing coal imports by 7.9%.
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Coal India consultancy unit CMPDIL files for IPO
VCCircle
·
2m ago
Medial
Central Mine Planning and Design Institute Ltd (CMPDIL), a consultancy unit of Coal India, has filed for an IPO, planning to sell up to 71.4 million existing shares. The draft prospectus was filed without disclosing the IPO size. CMPDIL, India’s largest coal and mineral consultancy, offers services in mine planning and exploration. SBI Capital Markets and IDBI Capital Markets are managing the IPO. Meanwhile, Coal India has not yet filed IPO papers for Bharat Coking Coal Ltd.
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Coal India Shares Heat Up on IPO Buzz for Two Arms
OutlookIndia
·
2m ago
Medial
Coal India shares surged by up to 4% following reports about the company's plans to list two subsidiaries, Bharat Coking Coal and Central Mine Planning & Design Institute. The listing process has begun, with a draft red herring prospectus soon to be filed. Despite the stock's recent gains, it had lost over 11% in the past year. Coal India accounts for over 80% of domestic coal production, with plans to expand critical mineral projects overseas.
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My parents refuse to keep car due to BluSmart, they'll be heartbroken: Ex-Google MD
Inshorts
·
3m ago
Medial
Ex-Google MD Parminder Singh reacted to the BluSmart row regarding fund diversion, saying his elderly parents have "unwavering faith" in the ride hailing app. "They refuse to keep a car...saying, 'BluSmart hai na (There's BluSmart)'," Singh said. "I don't know exactly what went wrong but...they'll be heartbroken when I say, 'Ab BluSmart nahi hai (There's no BluSmart anymore)'," he added.
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Coal India plans to start mining lithium, nickel, cobalt, molybdenum, graphite, phosphorus and potash in foreign countries
Money Control
·
11m ago
Medial
State-owned Coal India is looking to mine critical minerals such as lithium, nickel, cobalt, molybdenum, graphite, phosphorus, and potash in foreign countries as part of the Indian government's overseas scouting efforts. Director of Business Development Debasish Nanda revealed that Coal India is considering Australia for lithium and nickel mining, as well as parts of Africa. The move comes as India aims to secure critical mineral assets to support its energy security plans and achieve net-zero goals. In addition, Coal India is also focused on expanding its solar power capacity in several Indian states.
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Retail investors eye shareholder category for better IPO allotment; upcoming issues to watch
Money Control
·
10m ago
Medial
The IPO market in India is booming, with numerous companies going public. Retail investors are particularly interested in IPOs that offer a 'shareholder' category, as this increases their chances of getting allotted shares. Some upcoming IPOs that may have a shareholder category include NTPC Green Energy, HDFC Bank's subsidiaries HDB Financial Services and HDFC Credila, Ather Energy, Hero MotoCorp's subsidiaries Ather Energy and Hero Fincorp, SJVN Green Energy, Coal India's subsidiaries Bharat Coking Coal and Central Mine Planning and Design Institute, Asirvad Micro Finance (a subsidiary of Manappuram Finance), Canara Robeco AMC (a subsidiary of Canara Bank), and Belstar Microfinance (a subsidiary of Muthoot Finance).
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