Coal mine contracts of 45 firms cancelled

The Coal Ministry has cancelled the mining leases of West Bengal Power Development Corporation, Monnet Ispat & Energy and state­run NTPC for delays in operationalizing coal blocks and missing production targets, Parliament was informed on Monday. The Ministry penalized a total of 45 companies for delays in commencing operations and missing production targets, according to…

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Steel prices fell 13­-15% in July

Global steel prices, including export prices of Indian mills, have seen a 13­-15% downward correction, month­-on-month on seasonal demand weaknesses, recessionary pressures across the world, and an economic slowdown eyeing at China. For Indian hot rolled coil the benchmark offering prices are at $ 639 per tonne, fob East Coast, down by $93. The HRC…

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