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New Delhi [India], April 8 (ANI): The domestic iron ore production sector will require an investment of USD 20-25 billion or more to achieve national steel production targets and ensure self-reliance, according to Vedanta Group Chairman, Anil Agarwal. He noted that this scale of capital expenditure is essential to ramp up production to 800 million tonnes, which is needed to support the overarching goal of producing 300 million tonnes of steel within the country. Agarwal said on X that at the cu ...Read More >
Top iron ore miner Vale SA (NYSE: VALE) is aiming to boost its business in India by ramping up shipments to the country and seeking to trade its ore globally, tapping into one of the world's fastest growing steel markets. "India could be an opportunity not just for sales, but also to source iron ore, blend it and trade it -- finding better markets for their product," Commercial Executive Vice President Rogerio Nogueira said in an interview. The world's most populous nation has been a bright sp ...Read More >
The UK's FTSE 100 gained as energy shares rose along with oil prices, and EasyJet hit an eight-month high after positive brokerage reviews. The energy sector was buoyed by oil price increases, while miners saw gains due to copper pricing rebound. Other market movements included Marston's and SSP Group surging due to robust profit reports. On Tuesday, the UK's FTSE 100 benchmark rose, driven primarily by an uptick in energy shares following a hike in oil prices. The energy sector recorded a 1.7% ...Read More >
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