Coal India plans to invest Rs55bn by 2014-15
A.K. Debnath, Chairman and Managing Director of Central Mine Planning and Design Institute Ltd said
that the consumption of industrial explosives by Coal India has reached around Rs 1,700 crore a year.
An improvement of 1% would help save around Rs 17 crore a year to Coal India, reports Debnath.
ArcelorMittal signs agreement with Sider
ArcelorMittal and Sider, an Algerian state-owned company, have finalized a strategic agreement
including an investment plan of US$763m for the steel complex at Annaba and the mines in Ouenza
and Boukhadra. The plan includes a project to more than double the plant’s production capacity from 1
million to 2.2 million tons per year by 2017.The plan will see ArcelorMittal reduce its shareholding in
both ArcelorMittal Annaba and ArcelorMittal Tebessa to 49%.
Vedanta may fail to source alumina from Odisha: reports
Vedanta Aluminium's planning to source alumina from Odisha could suffer yet another jolt since public
sector National Aluminium Company (Nalco) has ruled out the possibility of supplying its surplus
alumina to any domestic unit. The Anil Agarwal company is unable to operate the units due to lack of
raw material.
LME rule changes benefiting metals producers: EUROFER
The European steel industry, represented by EUROFER, has serious concerns about the new rules
proposed in the Consultation on changes to LME Warehouses Policy, released on 1st July 2013.
According to EUROFER, unfair practices under London Metal Exchange Policy jeopardise the normal
functioning of the metals market.
30 Sept
6 Oct