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Coal

Indian acquisition is losing money and Mozambique wants it taxed

The financial director of the Steel Authority of India Limited (SAIL) has revealed the losses currently being borne by the Benga coal operation in Mozambique’s Tete province. Anil Chaudhary reported that Benga’s production costs were $165/t...
29th August 2014
 
ENERGY MINERALS

Mozambique coal projects set to change hands while Maputo ponders aid to sector

It has been reported from New Delhi that India’s International Coal Ventures Private Limited (ICVL) was set to buy 65% of the Benga coal operation in the Tete province of Mozambique as well as two other coal projects – Tete East and Zambeze...
1st August 2014
 
Coal

Rio Tinto reportedly selling Moz coal asset to Indian company

It has been reported from New Delhi that India’s International Coal Ventures Private Limited (ICVL) was set to buy 65% of the Benga coal operation in the Tete province of Mozambique as well as two other coal projects – Tete East and Zambeze...
25th July 2014
 
Mozambique

Indians, Australians pursuing opportunities in Mozambique

Indian company International Coal Ventures Private Limited (ICVL) is reported to be interested in coal assets in Mozambique. ICVL is a “special purpose vehicle” created at the initiative of the Indian Ministry of Steel, with the purpose of...
4th July 2014
 
Editorial Insight

Mozambique’s coal contribution, Australia’s cost disadvantage, Petra funds diamond expansions

Coal has become Mozambique’s number two export earner; project costs in Australia have risen faster than elsewhere; and diamond miner Petra has secured new debt facilities to make the funding of its expansions more "comfortable".
23rd November 2012
 
IRON-ORE

Indian consortium demands Afghan coal for iron and steel project

Concluding the final round of negotiations on the legal contract for the $11-billion development of the Hajigak iron-ore reserves in Afghanistan, the consortium led by Steel Authority of India Limited (SAIL) has sought the allocation of coking...
21st August 2012
 
IRON-ORE

SAIL invests $534m to develop Gua reserves

The Steel Authority of India Limited (SAIL) has approved an investment of $534-million to increase the capacity of its Gua captive iron-ore mine, in Jharkhand, to ten-million tons a year from its current 2.4-million-ton-a-year capacity. A...
26th July 2012
 
CONTRACT MINING

India looking to lure foreign contract miners

The Indian government has proposed fleshing out a model framework for a mine development and operation (MDO) agreement in a bid to lure foreign investments into contract mining. “In the last few months, few contract mining projects have taken...
3rd July 2012
 
IRON-ORE

India proposed ban on open market fine sales

The Indian government has proposed legislative changes that would effectively impose a ban on the open-market sale of iron-ore by captive mine owners. The move to impose such a ban was aimed at checking the export of iron-ore fines and...
18th June 2012
 
SAFETY & SECURITY

SAIL wants security forces at Rowghat

The Steel Authority of India Limited (SAIL) was seeking security assistance from the Indian government’s federal paramilitary forces as a condition for restarting the development of the 500-million ton Rowghat iron-ore reserves in the central...
11th June 2012
 
EXPLORATION

Indian consortium starts due diligence on Afghan reserves

A consortium of Indian companies shortlisted for copper and gold mining in Afghanistan would start due diligence on the reserves shortly. The consortium of government-controlled entities comprising Hindustan Copper Limited (HCL), National...
30th May 2012
 
IRON-ORE

Indian steel companies secure new iron-ore reserves

Two Indian steel companies, Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL) would be granted new iron-ore leases in the central Indian province of Rajasthan. SAIL and RINL would be granted leases for 864.6 ha and...
23rd May 2012
 
 
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