Coal India Boosts Govt Revenue by 6.4% in FY24

Coal India and NMDC eye lithium mines

Coal India and NMDC, two of India's foremost mining companies, are actively exploring opportunities to delve into the lithium mining sector overseas. With the increasing global demand for lithium, driven primarily by the surge in electric vehicles and renewable energy storage solutions, the move signifies a strategic shift in the companies' focus towards emerging minerals crucial for the future of clean energy. As traditional mining commodities face fluctuating demand and environmental scrutiny, diversifying into lithium presents a forward-looking approach for sustainable growth.

Lithi..

Coal India records 17% profit growth despite modest income rise

Coal India Limited has announced a notable 17% growth in its annual profit, despite facing a tepid increase in income. This growth in profit underscores the company's resilience and operational efficiency amidst challenging market conditions.

While Coal India's income saw a modest rise, the company managed to enhance its profitability through various strategic measures, including cost optimization, operational improvements, and enhanced productivity. Despite facing headwinds such as subdued coal demand and pricing pressures, the company's focus on efficiency and performance has enabled ..

India's coal output increased by 7% in April

The state-owned CIL reported a 7.3% increase in production in April, reaching 61.8 million tonnes (MT). In a filing to the BSE, Coal India (CIL) stated that the company had produced 57.6 MT of coal in the equivalent month of the previous fiscal.

More than 80% of the coal produced in the country comes from CIL.

In addition, the company's coal offtake increased 3.2% to 64.3 MT last month from 62.3 MT in the same period last year.

The quantity of dry fuel provided by the pitheads is known as coal offtake.

Maximum production of 16 MT came from Mahanadi Coalfields (MCL),..

Hindustan Zinc, Jindal Power vie for Rajasthan Gold Mines

Several prominent Indian firms including Hindustan Zinc, Jindal Power, and JK Cement are competing for the rights to operate two gold mines in Rajasthan. This competitive bidding process, overseen by the Rajasthan government, highlights growing interest in India's mining sector despite regulatory and operational challenges.

The auction, facilitated under the Mines and Minerals (Development and Regulation) Act, aims to allocate mining rights for the Bhukia and Khetri mines in Rajasthan. These mines are estimated to hold significant reserves of gold, attracting bids from major players in ..

Coal India and NMDC eye lithium mines

Coal India and NMDC, two of India's foremost mining companies, are actively exploring opportunities to delve into the lithium mining sector overseas. With the increasing global demand for lithium, driven primarily by the surge in electric vehicles and renewable energy storage solutions, the move signifies a strategic shift in the companies' focus towards emerging minerals crucial for the future of clean energy. As traditional mining commodities face fluctuating demand and environmental scrutiny, diversifying into lithium presents a forward-looking approach for sustainable growth.

Lithi..