Coal and steel mines gain traction in India and Europe
<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Coal-and-steel-mines-gain-traction-in-India-and-Europe-5191775166iStock-1424827687-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Coal-and-steel-mines-gain-traction-in-India-and-Europe-5191775166iStock-1424827687-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Coal-and-steel-mines-gain-traction-in-India-and-Europe-5191775166iStock-1424827687-700×467.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Coal-and-steel-mines-gain-traction-in-India-and-Europe-5191775166iStock-1424827687-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Coal-and-steel-mines-gain-traction-in-India-and-Europe-5191775166iStock-1424827687-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Coal-and-steel-mines-gain-traction-in-India-and-Europe-5191775166iStock-1424827687-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Coal-and-steel-mines-gain-traction-in-India-and-Europe-5191775166iStock-1424827687-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Coal-and-steel-mines-gain-traction-in-India-and-Europe-5191775166iStock-1424827687.jpg 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p><span data-contrast="auto">The company, which specialises in coal and steel mining and production and supply chain, particularly in Chhattisgarh, climbed 5% due to backing from its new commercial mine in Bhaskarpara. Its stock gained 6.34% in the last week and 53.56% in the last month.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="auto">The new Stage-1 commercial project is currently waiting for the approval of many of India’s environmental bodies. India’s Ministry of Environment, Forest and Climate Change have recently approved the project through the Forest (Conservation) Act, 1980. Likewise, the company has been granted Environmental Clearance from the Government of India.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="auto">According to a Prakash Industries representative, the coal supplies from the new mine will provide stability to the company’s integrated steel operations as well as significant cost reductions.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p><span data-contrast="auto">The STOXX Europe 600 mining index has become the worst-performing sector and experienced a fall of 15%; however, the unfavourable industry has garnered interest from Chinese investors hoping to pump new stratagems into dormant projects. Analysts against the collaboration between Beijing’s economy and the wider STOXX 600 forecast that the Chinese economy will grow by only 5% this year despite being the second-largest global economy.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="auto">Coal and steel production seems to be more favourable above copper and iron extraction, which is stagnant on the London Metal Exchange at $8,380 a tonne. </span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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