The Coal Ministry has indicated that certain coal blocks out of 54 acreages that were tipped to be put up for competitive bidding will be awarded on a nomination basis instead.

State-run NTPC is planning to strike a long-term offtake deal with coal companies abroad, to match its increasing demand.

14:31 IST Lead prices fell by 0.44% to Rs 114.25 per kg in futures trade today amid a weak trend at the domestic spot market amid subdued demand from consuming industries. At the Multi Commodity Exchange, October lead fell by 50 paise, or 0.44%, to Rs

11:43 IST Copper prices fell by 0.37% to Rs 421 per kg in futures trade today as speculators reduced their positions amid a weak trend on the London Metal Exchange on concerns about demand. At the Multi Commodity Exchange, November copper declined by Rs

Reeling under raw material shortages and the extension of a mining ban, the multi-billion dollar Karnataka steel industry is in the doldrums due to continuing uncertainty over iron ore supply to their plants. The jittery industry was not even optimistic over the release of 25 million tonne (MT) of iron ore, lying at various mines in the southern state, as the modalities are yet to be worked out.

At a time when the country is embarking on ambitious power generation programmes, the shortage of coal is expected to impact new capacity addition plans to the tune of 15,000 MW in the current fiscal.

Asia's commodities business is still largely insulated from looming fears of yet another global financial crisis, although new projects might face difficulties in getting financing.

13:55 IST Silver prices climbed by Rs 455 to Rs 61,450 per kg in futures trade today as traders indulged in creating fresh positions in tandem with a firm global trend. At the Multi Commodity Exchange, silver for December delivery shot up by Rs 455, or

The world's largest coal miner Coal India Ltd has zeroed in on two overseas coal assets, one in Australia and the other in Indonesia, for acquisition and expects to begin serious dialogue with the owners soon.

After having sleepless nights during the global economic slowdown in 2008, the Surat diamond industry seems to have played safe as far as the US, the biggest diamond jewellery market, is concerned.

In a rare development, gold prices have surpassed usually costlier platinum from the precious metal basket.

Growth concerns in the US and European countries have put downside price pressure on most commodity markets, with crude oil and copper losing the most.