Govt strives to improve school infrastructure in rural areas (See 'TOG News') National Waterway - Govt launches outreach campaign (See 'Corpbrief') Jaypee, IBBI ask SC to constitute fresh Committee of creditors (See 'Corpbrief') Govt makes National Pension System mandatory for new govt employees (See 'TOG News') Karnataka Bank launches DigiLocker facility Infosys Foundation inks MoU with Bangalore Metro to build & maintain the Electronics City Station Suzuki Motorcycle to invest Rs 600 cr in its second India plant Govt offers fiscal incentives to achieve 100GW solar power target (See 'TOG News') GST Law Amendments - Will Council make it more taxpayer-friendly? (See 'Cob(Web)' in 'TIOL') Railways' catering sees major overhaul to ensure good quality food (See 'TOG News') IMF predicts India's growth at a fast pace (See 'Corpbrief') Govt sets up mechanism to ease IGST refund claims for exporters (See 'TOG News') BRICS nations to share best practices in airport infrastructure management (See 'TOG News') Cabinet nod for MoU to promote export of pharma products to Indonesia (See 'Corpbrief') Appointment of Authorised Representative for Classes of Creditors u/s 21 (6A) (b) of IBC, 2016 (See 'Dashboard') Atal Pension Yojana - PFRDA Invites EOI for Actuarial Valuation (See 'Corpbrief') HDFC AMC sets IPO price band at Rs 1,095-1,100 Flipkart offers mobile recharge, flight ticket bookings RIL plans to borrow Rs 40,000 cr in consumer push HDFC Bank raises Rs 8,500 cr by issuing equity to parent HDFC SEBI Act - Accidental or unintentional self-trades are not covered under SEBI (PFUTP) Regulations, 2003: SEBI (See 'Legal Desk') Competition Act - In absence of any regulatory trade barriers with regard to participation by contractors in bids floated by PWD of Haryana, and since, same is not in dominant position in relevant market, abused of dominant position cannot be alleged: CCI (See 'Legal Desk') US delegation to discuss impact of sanctions imposed on Iran (See 'TOG News') Steel Ministry accepts Pension Scheme for CPSE Employees (See 'Corpbrief') Govt proposes amending Motor Vehicle Rules to permit digital driving license (See 'TOG News') PNB to receive Rs 2,000 cr capital infusion next week Nestle market cap crosses Rs 1 trillion Payments firm PhonePe buys Zopper Retail Blue Star wins Engineering Facility Management (EFM) orders from Airport & Metro segments L&T Hydrocarbon Engineering wins order for Cracker Furnace Project NBFCs focusing on SME sector for funding opportunities (See 'Corpbrief') OLA inks agreement with Haryana Govt for job creation (See 'Corpbrief') Govt announces slew of measures in Agra to protect Taj Mahal (See 'TOG News') SC defends health warnings on Tobacco products to enable 'informed choice' (See 'TOG News') India & Oman to collaborate in start-ups, SMEs & tourism (See 'TOG News') Place of removal - Valuation under CE & Customs Laws - past and present (See 'TOG INSIGHT') Competition Act - When substantial percentage of country liquor was procured by OPs from two distilleries over other distillers and manufacturers, same proves alleged preferential treatment in favour of such distilleries: CCI (See 'Legal Desk') SEBI - Since trading of share completed only after electronically given consent of client on website of POA holder and Noticee, requirement specified by regulation 42 (3) of DP Regulations stood fulfilled: SEBI (See 'Legal Desk') Consultative Paper on proposed SEBI (Fiduciaries in Securities Market) (Amendment) Regulations (See 'Dashnboard') Customs administration must reduce transaction formalities to ease trade flow: MoS (See 'TOG News') 74% IT decision makers favor using AI in financial services sector: NASSCOM report (See 'TOG News') India urges China to liberalize visa regime for Indian professionals (See 'Corpbrief') NCLAT stays lenders & shareholders meet of GJ NRE Coke (See 'Corpbrief') TCS eyes USD 200 mn in revenue from blockchain in FY19 Flipkart, Amazon cut Google ad spends Bhushan Steel appoints T V Narendran as chairman L&T & BEML ink MoU to address the indigenisation needs of Indian Defence Market BEL inks MoU with Saab, Sweden Lupin's Goa facility gets approval from UK MHRA

India keen to buy lithium & cobalt mines overseas

Published: Jun 22, 2018

By TIOLCORPLAWS News Service

NEW DELHI, JUNE 22, 2018: IN a bid to to come up with solutions to leverage in metals and mining sector with the changing global scenario, the Union Government has allowed 100% Foreign Direct Investment (FDI) in the sector and exploration of metal and non-metal ores under the automatic route.

Addressing the 7th India Minerals and Metals Forum here yesterday, the Joint Secretary Ministry of Mines, Mr Anil Kumar Nayak said that Power and cement industries were also aiding growth in the metals and mining sector. Demand for iron and steel is set to grow, given the strong growth expectations for the residential and commercial building industry. Exploration of the deep seated minerals needs to be focused, he added.         

Mr Nayak also said that there is large number of small players in the mining business. He said India is deficient in lithium and cobalt. These two minerals are required for electric vehicle which is one of the major missions of Government of India. The government has initiated a proposal where NALCO, Hindustan Copper and MECL will form a joint venture to acquire lithium and cobalt mines abroad.

TIOL CORP SEARCH

TIOL GROUP WEBSITES