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The Union Ministry of Mines launched the tranche at a function in Srinagar, inaugurated by Mines Secretary Piyush Goyal, as part of efforts to expand mineral exploration and attract private investment in the sector View More
The Union Ministry of Mines has launched the second phase of e-auctions for twelve limestone blocks in Jammu and Kashmir. This initiative aims to boost mineral development and economic growth. The blocks are located in Anantnag, Rajouri, and Poonch districts. Tender document sales begin May 18, with a pre-bid conference on June 5. View More
Srinagar: The Union Ministry of Mines on Tuesday launched the second tranche of e-auction for 12 limestone blocks in Jammu and Kashmir, marking another major milestone towards transparent, sustainable and investor-friendly mineral development in the Union Territory. Ministry of Mines Secretary Piyush Goyal officially launched the tranche at a function here. Addressing the gathering, he highlighted the transformative reforms and amendments undertaken by the ministry to simplify processes, strengthen transparency and improve ease of doing business in the mining sector. He emphasised that J-K possesses immense mineral potential and the auction and operationalisation of these blocks will significantly contribute towards the vision of Viksit Bharat, Viksit Jammu and Kashmir, and Aatmanirbhar Bharat through economic growth, employment generation and industrial development. "A total of 12 limestone blocks, spread across the districts of Anantnag, Rajouri and Poonch have been put up for auction under Tranche II. These include both newly identified blocks and blocks being re-auctioned under a second attempt, in accordance with the provisions of the Mineral (Auction) Rules, 2015 (as amended)," the PIB said in a handout. It said the blocks are categorised under G3 and G4 stages of the United Nations Framework Classification (UNFC) and are expected to attract strong industry interest, particularly from the cement and infrastructure sectors. Live Events During the event, Joint Secretary and Designated Officer, Farida M Naik, urged the bidders to explore the region's mining potential, highlighting its role in boosting economic growth, employment and socio-economic development. The sale of tender documents will commence on May 18 and the pre-bid conference is scheduled for June 5 this year. The auction is conducted under the provisions of the Mines and Minerals (Development and Regulation) Act, 1957 and the Mineral (Auction) Rules, 2015. Building upon the momentum of the first tranche, this initiative reflects a calibrated approach to ensure optimal utilisation of mineral resources, while enhancing investor participation and confidence. The technical session featured detailed presentations by MECL, SBICAPs, and MSTC . Srikant Sharma, MECL, presented the geological and mineral potential of the 12 limestone blocks. Pratin Sharma, Assistant Vice President, SBICAPs, explained the mineral auction process and tender framework while Keshav Arora, Manager, MSTC, demonstrated the e-auction portal and online bidding process, according to the PIB handout. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
In 1861, a Bavarian quarry yielded a fossilised feather, soon followed by the Archaeopteryx skeleton, a creature with bird and dinosaur traits. This "ancient wing" became a pivotal piece of evidence for evolution, proving birds descended from dinosaurs. Modern science continues to analyse its pigments, revealing details about its appearance and flight capabilities. View More
The company plans to scale the project in phases based on market demand and future expansion opportunities in the green construction materials sector View More
Pan-India average cement prices improved by ?10-13 per bag month-on-month in May as companies attempted price hikes to partially offset the cost inflation arising due to the West Asia crisis View More
UltraTech Cement management highlighted in their latest earnings call that, in addition to bag shock from West Asia’s conflict, exchange losses due to the rupee’s devaluation in March are also pressuring the company View More
China called for a "prompt resumption of shipping traffic through the Strait of Hormuz," though that point was absent in Iran's statement. View More
Iranian Foreign Minister Abbas Araghchi meets with Chinese Minister of Foreign Affairs Wang Yi in Beijing, China on May 6, 2026.Iranian Foreign Ministry/Anadolu via Getty Images China pressed Iran on Wednesday to pursue a diplomatic resolution to the Middle East conflict and refrain from resuming hostilities, as Beijing seeks to cement its position as a key mediator ahead of a high-stakes summit with the U.S. In a meeting with his Iranian counterpart Abbas Araghchi, Chinese foreign minister Wang Yi called for "an immediate end to the hostilities" while urging warring powers to continue diplomatic negotiations. China also called for a "prompt resumption of shipping traffic through the Strait of Hormuz," though that point was absent in a statement posted by Iran's foreign ministry on Telegram. The meeting marked the first such visit by Araghchi since the outbreak of the U.S.-Israel war on Tehran on Feb. 28, and came just days before U.S. President Donald Trump's scheduled visit to Beijing.Chinese state media proactively publicized the visit late Tuesday, citing a foreign ministry statement that noted Beijing initiated the invitation. "This meeting is deeply strategic," said Amir Handjani, a board member at the Quincy Institute for Responsible Statecraft. "Tehran and Beijing are aligning their interests before Trump's summit with [Chinese President Xi Jinping], and the timing is deliberate." That said, China wants stability in the Persian Gulf to protect trade and energy flows, Handjani noted."Chinese leadership wants tankers moving and trade flowing out of the Persian Gulf into Asian markets, he said. "They have no appetite for the inflationary shock and potential recession that a prolonged blockade would trigger across the region."Wang and Araghchi have held at least three phone calls since the outbreak of the Iran war. Beijing has repeatedly called for an immediate ceasefire and for commercial shipping to move freely through the Strait of Hormuz. In late April, Chinese President Xi Jinping urged "normal passage" through the crucial waterway. Before the war, about 20% of the world's oil and liquefied natural gas passed through the strait. But commercial traffic has slowed sharply in recent weeks.China, the world's largest buyer of Gulf oil and gas, has absorbed the Hormuz shock, though domestic stockpiles and a diversified energy mix have provided some buffer. watch nowVIDEO1:5701:57Defense Sec. Hegseth: Ceasefire is not over, we urge Iran to be prudent in actions they takeSquawk on the Street In the run-up to Trump's widely anticipated May 14-15 visit to China, the U.S. president's advisors have urged Beijing to pressure Iran to restore commercial shipping. A director at a Beijing-affiliated think tank previously told CNBC that China lacked both the capability and inclination to pressure either side into negotiations, despite facilitating a temporary ceasefire last month. For Tehran, the China visit is a way to show the U.S. that "it isn't isolated and has friends and options," said Danny Russel, a distinguished fellow at the Asia Society Policy Institute, as Iranian leadership seeks to bolster its bargaining position in the standoff with Washington and deter renewed American attacks. Tehran is expected to seek assurances from Beijing on oil flows, financial channels, and diplomatic backing against renewed U.S. military action, Russel added. In return, he expects Beijing to push Iran to stop threatening Gulf infrastructure and commercial shipping and to move toward reopening the Strait of Hormuz. For Xi, the visit could present an opportunity to position Beijing as a responsible power before Trump's visit, while limiting China's own risks, said Russel. The visit also comes as both sides have been trading blows ahead of the summit. In an unprecedented act of defiance, China pushed back against Washington's sanctions on Chinese refiners buying Iranian crude, invoking a "blocking rule" for the first time, directing companies not to comply with U.S. sanctions.The countervailing orders would, at a high level, "place U.S. companies in the position of choosing between compliance with U.S. or Chinese regulatory regimes," said Han Shen Lin, China managing director for The Asia Group. Trump's upcoming Beijing summit â delayed by more than a month due to the war in Iran â could present a critical opportunity for the U.S. president to dial back friction and secure commitments from China to purchase American farm produce, industrial goods, and energy ahead of the November midterm elections.A confrontation over Iran risks derailing that plan, analysts warn. "Even if Trump believes the Chinese are just providing diplomatic cover while keeping Iran economically afloat, he is at a disadvantage," Russel said. "He needs Beijing to restrain Tehran, not empower it." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Shree Cement's shift signals a potential cooling of the aggressive capacity-addition cycle among India’s top cement producers, who had been racing to scale up output. View More
Shree Cement announced a final dividend of ?70 per share for FY26, totaling ?150 for the year. The company reported a March-quarter revenue of ?6,101 crore and a net profit of ?1,292 crore. Expansion plans include new RMC plants and increased cement capacity. View More