Great Lakes Limestone Trade Up 22.8% in November
Shipments of limestone on the Great Lakes totalled 3.1 million tons in November, an increase of 22.8% compared to a year ago. Limestone cargos were 7.3% above the month’s five-year average.Loadings from U.S. quarries increased 23.6% from 2022 to 2.6 million tons. Shipments from Canadian quarries totalled 536,912 tons, an increase of 19.2%. Year-to-date the […]
Average rent rises 7% annually in Apr-Sep across 7 cities of India
Rentals for prime office spaces rose by an average 7% year-on-year to ₹83 per square feet per month across seven major cities during the first six months of the current fiscal on rise in construction cost. Grade A office rental values averaged at ₹83 per square feet per month across seven major cities against ₹77.50 […]
India plans to tweak iron ore sale price formula
India plans to tweak a formula to fix the average domestic sale price of iron ore, a key steel making raw material, according to a government note. After the Ministry of Mines pointed out that some iron ore miners tried to keep the average sale price artificially lower to pay lower royalties to the government, […]
Underground coal mining policy to be unveiled soon
The Centre is considering measures to boost underground coal mining and will soon come up with a policy framework. The government aims to increase coal output from underground mines to 100 million tonnes from the current 26 million tonnes per year. The environmental impact of underground coal mines is lower than open cast mines, as […]
Indians surpass Britons to become largest real estate investors in Dubai, Russians down at No. 3
Indians have become the largest real estate investors in the Dubai property market surpassing Britons in the latest quarter. The Dubai real estate market recorded 28,249 transactions in the third quarter. This was a 4% increase versus the second quarter and 23% higher than the same period in 2022. It was entirely driven by 34% […]
India’s coal output jumps 18.59% in October 2023, dispatches up by 18.14%
The Ministry of Coal on Friday said that coal production in October 2023 has seen an upturn, registering a production of 78.65 million tonnes (MT), an increase of 18.59% over the 66.32 MT produced in the corresponding month of the previous year. The ministry’s data further highlighted that Coal India Limited (CIL), the state-owned coal […]
Emirates Cement (Arkan) awards Omani limestone haulage contract to Oman and Etihad Rail Company
Emirates Cement (Arkan) has appointed Oman and Etihad Rail Company (OER) to provide train transport for imported Omani limestone to its 1Mt/yr Al Ain cement plant. The collaboration with OER would enhance the supply chain capabilities by leveraging the railway network that connects both countries. This agreement paves the way for integrated logistics solutions for […]
Iron ore looks set for a tumble as major stimulus hopes fade
Iron ore’s rally over the last couple of months is looking increasingly brittle as hopes fade for the type of big-bang, infrastructure-heavy stimulus that China used to deploy. Authorities have loosened monetary policy and rolled out or talked up a series of measures to support property and other parts of the economy since early June. […]
NMDC iron ore output rises 11.42 pc to 3.51 MT in April
State-owned NMDC Ltd on Tuesday reported an 11.42 per cent rise in its iron ore production of 3.51 million tonnes (MT) in April 2023. It produced 3.15 MT of iron ore in the same month last year, NMDC said in a BSE filing. Last month, the company’s sales rose by around 10 per cent to […]
1m tonnes of iron ore to be e-auctioned from May 9 in Goa
India imposed anti-dumping duty on imports of certain type of steel products from China, Vietnam and Korea for five years with a view to guard domestic manufacturers from cheap PANAJI: The Goa government has put up about 1 million tonnes of iron ore for the e-auction scheduled from May 9 onwards. This is the 28th […]