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SAFETY

Extremists halt CIL project work by extortion demands

Workers at a project of Central Coalfields Limited (CCL), in the central Indian province of Jharkhand, have been forced to stop work by ultra left wing extremists demanding extortion money. While the company, which is a subsidiary of coal major...
24th April 2014
 
LEGISLATIVE ENVIRONMENT

Goa to frame new mining policy after lifting of mining ban

Close on the heels of the India’s Supreme Court lifting a ban on mining in Goa, the provincial government is working on a new mining policy to be ready by June, and aims to get operations back on the rails by September. The new mining policy...
23rd April 2014
 
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22nd April 2014
 
IRON-ORE

India’s Supreme Court lifts Goa iron-ore mining ban, shadow of ban in Odisha

India’s Supreme Court on Monday lifted the 18-month ban on iron-ore mining in western Indian coastal province of Goa subject to a cap of 20-million tonnes a year. However, while bringing cheer to miners in the west, the apex court order cast a...
22nd April 2014
 
POTASH

Low international potash import offer sparks flurry in Indian buying

Indian potash imports are poised for a significant boost in 2014 as the sector saw a flurry of activity to clinch contracts at sharply reduced prices ranging between $320/t to $325/t, which was substantially lower than the $427/t mark recorded...
22nd April 2014
 
DIAMONDS

Rough diamond prices to bounce back in 2014 – lobby

Natural rough diamond prices may rise 5% to 10% in 2014 on recovering demand for jewellery in developed and emerging markets, the head of Belgium's diamond lobby told Reuters in an interview. The global market came under pressure in 2013 as a...
21st April 2014
 
Base Metals

Revival imminent for African zinc, says industry body

ZINC REVIVAL 
Owing to increased infrastructure development, access to Africa-based zinc reserves and refining opportunities is improving
While Africa’s zinc production represents only 13.6% of global output, there appears to be a revival in zinc projects across the continent, owing to supply and demand forecasts, says International Zinc Association of Southern Africa (Izasa)...
18th April 2014
 
DIAMONDS

Gemfields secures $15m unsecured loan from key shareholder

Aim-listed Gemfields has inked a $15-million unsecured, 12-month working capital facility with specialist natural resources investment company and key shareholder Pallinghurst Resources, the funds of which will be used to “smooth" the company's...
17th April 2014
 
GOLD

Gold price to average $1 225/oz in 2014 – GFMS

Weighing up the factors impacting the gold market this year, 2014 looks set to be a second year of price decline for gold, with precious metals consultancy Thomson Reuters GFMS continuing to forecast an average of $1 225/oz for the year. The...
17th April 2014
 
COAL

More speed bumps in way of Indian coal block auction plans

India’s maiden auction of captive coal blocks hit yet another snag with prospective bidders raising a red flag over alleged discrepancies in the reserves of the three blocks on offer. In a pre-bid meeting of prospective captive coal users...
17th April 2014
 
 
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