Metals and Mining Newsletter - December 22 to 26, 2014

The government has decided to defer the initial public offer (IPO) of the RINL, according to reprots.

Dec 26, 2014 07:12 IST India Infoline News Service

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Advisory Group for Integrated Development of Power, Coal, and Renewable Energy Submits it
Suresh P. Prabhu, Chairman of the Advisory Group ( now Union Minister for Railways) for Integrated Development of Power, Coal, and Renewable Energy has presented its final report to Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy.

The Advisory Group was set up by the Government on 25th June, 2014. The Group was chaired by Suresh Prabhu, Former Minister of Power, Government of India (now Railway Minister), and consists of R.V. Shahi, (Former Power Secretary) as Member-Convenor, Shri Pratyush Sinha (Former Chief Vigilance Commissioner), Shri Anil Baijal (Former Home Secretary), Dr. Anil Khandelwal (Former Chairman, Bank of Baroda), Dr. K.K. Nohria (Former CEO, Crompton Greaves), Partho Bhattacharya (Former CMD, Coal India), and Vallabh Bhansali (Former CEO, ENAM) as Members..... Read More

Govt deferred RINL IPO
The government has decided to defer the initial public offer (IPO) of the RINL, according to reprots. Report stated that the new timeline for the IPO of RINL would be drawn up after the company ascertains the damage.
 
The 10% government stake sale through IPO is likely to take place sometime in the next financial year, says report. RINL had filed a draft prospectus with market regulator Sebi for an IPO in September.
 
Domestic News
 
Coal Ministry to commence First Batch of E-Auction of 24 Coal Mines
Pursuant to the order of Supreme Court and in line with the provisions of Coal Mines (Special Provisions) Ordinance, 2014 and subsequent Rules, Ministry of Coal will commence the first batch of e-auction process for the 25-1=24 (Marki –Mangli II being in inviolate area as informed by MoEF) Schedule II mines from tomorrow, December 25, 2014.
 
While briefing the whole process , Anil Swarup, Coal Secretary stated that out of 24 mines proposed to be auctioned, 7 are for the power sector, 16 for other end use plants of iron & steel, cement and CPPs and 1 mine for steel sector (coking coal)...... Read More

Domestic steel industry is not getting adequate iron ore to produce steel: Seshagiri Rao, JSW Steel
JSW Steel is India's leading private sector steel producer having $9 billion global conglomerate spread over six locations in India and a footprint that extends to the US, South America and Africa. Recently, the company was in news as they plan to build a 10 million tonne greenfield steel plant at Salboni in West Bengal. Currently, the project is on hold as the ban on iron ore mining and cancellation of coal mines has brought in severe uncertainty to raw material linkages for the project.... Read More

 
Union serves strike notice...Coal India clarifies
Coal India Ltd clarified "We understand from newspaper reports that 4 Trade Unions viz - Indian National Mineworkers Federation (INMFW), Hind Khadam Mazdoor Federation, AITUC-controlled Indian Mine Workers Federation and Bharatiya Mazdoor Sangh met in Ranchi on Wednesday and decided to go on strike at Coal India Limited and its subsidiary companies from 6th January to 10th January'2015. Company is to get official notice from them. As and when the same is received, we shall arrange go for conciliation process."
 
Price mostly depends upon the domestic consumption requirement: NMDC
Steel prices globally have been under pressure over the last three months as cheap exports from China and Ukraine flooded the markets says IIFL research report. Steel prices, which had managed to hold ground in H1 2014 even after the sharp correction in raw material prices, were under pressure due to strengthening of the dollar. Exports from China and Ukraine also rose as their currencies weakened against the dollar says report...... Read More
 
www.lohalive.com to give a big boost to e-commerce for iron & steel industry
Ahmedabad-based, Loha Live Junction Private Ltd, is set to revolutionise trade in the iron & steel industry and plans to give a big boost to e-commerce in the iron and steel business through its portal www.lohalive.com. Lohalive.com is a first of its kind dedicated e-commerce portal for the iron and steel industry with a focus to provide end-to-end solution. Currently, over 15,000 manufacturers, traders, suppliers, retailer, industrialist and end user are listed on the portal and many more will be added in the coming months...Read More

Piyush Goyal launches portal for e-auction of Coal Mines
Piyush Goyal , Minister of State ( IC) for Power, Coal & New and Renewable Energy has formally launched the portal for e-auction of 24 coal mines. The registration process has been started and interested bidders with end use plants could visit MSTC website for the purpose. The registration process will be as per KYC norms and will be available on MSTC website.

Piyush Goyal said that entire auction process will be transparent, efficient and conducted online only. However, 2 documents the Bank Guarantee comprising the bid security and an Undertaking stating that all information submitted is true and correct shall be received in hard copy...Read More

Uttam Value Steels bags National Energy Conservation Award 2014
Uttam Value Steels Limited announced that it has received the most coveted award recognising Energy Conservation on a national platform - The “National Energy Conservation Award 2014”. Uttam Value Steels Limited is a part of the Rs. 15000 crore Uttam Group, one of the country’s largest manufacturer-exporter of value added steel products...Read More

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