INDIA’s investment in Australian coal companies and assets is not all one way traffic. Exposure to the Australian coal scene is spurring Indian companies to look at ways of taking Australian technology home – good news for Australia’s METS companies.
BIGGER isn’t always better in iron ore. That’s the view of India-focused junior NSL Consolidated, which plans to begin producing on a small scale next year for export markets as the basis for building a much larger company.
EVERY Australian mining services, technology and equipment company should have a strategy for India, and with a glimmer of hope offered by proposed legislation to open up the coal industry and Leighton’s contract win this month, the timing has never been more pressing.
UNWIELDY bureaucracy, unfriendly mining laws and poor infrastructure has kept mining companies out of India, despite the country’s large resource endowment and growing need for raw materials. India’s government has been talking up change as the reality of fuelling the nation’s surging industrial growth sinks in, but it’s going to be a tough road to making the country a mining friendly jurisdiction.
MASSIVE expansion plans for India’s coal sector over the next decade could, if they are anywhere near fully implemented, generate significant opportunities for foreign mining service and equipment companies including a hardy band of Australian firms that have spent years laying the groundwork for increased market penetration. They’re probably not holding their breath though.
A BIG contingent of Australian exhibitors at last week’s International Mining and Machinery Exhibition at Kolkata included a number that were at the show two years ago. Glacial change in India’s mining industry might be occurring against an encouraging macro-economic backdrop, but foreign suppliers seem confident about emerging opportunities to grow their presence in the country.
EOIN Rothery’s at times harrowing rollercoaster ride of an initiation to life as head of a public company is not over yet. For now, the managing director of India Resources must grit his teeth and, with the investors still onboard the rickety Indian copper wagon launched amid some fanfare in the middle of last year, hang on tight while the cart battles to stay on the rails.
AUSTRALIAN-listed India Resources expects to produce nearly 9800 tonnes of copper concentrate by the end of calendar 2008 from the Surda mine in Jharkhand, which it claims should be generating a positive cash flow in the December quarter.
WITH an N43-101 (and JORC) compliant resource for the Askot polymetallic project in northern India imminent, Canadian-based Pebble Creek Mining has moved to expedite permitting so it can step up exploration amid the continuing frustration of dealing with the Indian bureaucracy.
NEGOTIATIONS between India Resources Ltd and Hindustan Copper are continuing as the former works to stay on track to meet its goal of producing 9000 tonnes per annum of copper in concentrate from the Surda operation in Jharkhand.
AUSTRALIAN mining contractor Byrnecut Mining has emerged as the frontrunner in a bid to be involved with Hindustan Copper in redevelopment of the Banwas copper mine in Rajasthan’s Jhunjhunu district, pipping Oxiana, Anglo American, Lundin Mining and India Resources.
LUCK seems to be playing a big part in the outcome of matches currently being played between the Australian and Indian Test cricket teams. Good fortune has most certainly been a factor in Australian-based India Resources Ltd’s ability to get some early runs on the board on the international mining industry’s version of cricket’s sticky wicket.
THREE weeks on the road in India could feel like a very long three weeks indeed with the state of many of the country’s roads. But it’s nothing $US95 billion of new road works over the next five years won’t go some way to fixing. According to Citigroup analysts, there are good reasons for optimism that much of the money will be spent.
CAPITAL raised via a rights issue and placement is expected to allow India Resources Ltd to deliver on its promise to introduce “cost-effective Australian mining techniques” at the Surda copper mine in eastern India and demonstrate to the Indian Government-controlled owner Hindustan Copper Ltd that it doesn’t need a new partner to do the same at other sites it plans to rejuvenate and modernise.
EMERGING copper miner India Resources Ltd has its sights on a second mine re-development and exploration joint venture with Indian Government-controlled Hindustan Copper Ltd after this week reporting it had raised the first ore from Surda in Jharkhand’s East Singbhum district.
APPROVAL by India’s Group of Ministers (GoM) of a new competitive bidding process for mineral and coal blocks maintains restrictions on bidding eligibility, particularly for coal, keeping the market skewed towards captive consumers of resources. However, the regime change signals a paradigm shift in the mining industry.
US-BASED mining equipment manufacturer Bucyrus International Inc is starting small but aiming high with plans to build a $US1 billion supply business in India, the company’s chief executive has told an Asian news service.
INVESTORS have jumped on board the latest Australian junior aiming to get a production foothold in India’s under-developed resources sector, backing the Michael Kiernan-chaired India Resources Ltd to the tune of $A11 million.
EOIN Rothery has been to India five times in the past nine months to find a mine to anchor India Resources Ltd’s foray into the country. Mindful of the bureaucratic mire that has ensnared other foreign-owned exploration and mining companies in India, he was keen to take the shortest path to a production footing.
KOMATSU’S new Oragadam mining truck plant near Chennai was modelled on the Japanese equipment giant’s Ibaraki factory and was supposed to be opened at the same time, in January this year. Oragadam’s later opening may reflect cultural differences between unhurried India and methodical Japan. But Komatsu’s second mining equipment plant in India offers a signal that it does not want to be late for any shift in the country’s mining investment emphasis.