Business
Exploration Of Critical Minerals In Northeast Among The Main Priorities: G Kishan Reddy
New Delhi: Union Minister of Coal and Mines, G Kishan Reddy, on Monday said that exploration of critical minerals in Northeast India is the main agenda of the government, among other activities.
Speaking to the reporters during the inauguration of the Namchik-Namphuk Coal Mine in Changlang district of Arunachal Pradesh today, the Minister said, “We want to develop the Northeast in every sector. Currently, coal-based activities are ongoing in Assam, and in the coming days, we will accelerate exploration activities in Mizoram and other states.”
“Additionally, there are significant reserves of critical minerals in neighbouring countries. Since major coal-related activities are happening in those countries, it indicates that the areas of our country bordering them may also have reserves of coal and critical minerals. Therefore, exploring these reserves, developing the region, providing employment to the local population, and boosting economic activity in the area is our main agenda,” the Minister said.
Critical minerals are essential resources for a nation’s economic development, national security, and modern technologies, including renewable energy, advanced manufacturing, and digital infrastructure. They are defined by their importance, not their scarcity, but they pose supply chain risks due to limited availability in certain geographic locations and complex global extraction and processing chains.
The much-anticipated exploration project, being developed by the Mahalaxmi Group, is expected to generate an estimated Rs 4,500 crore in revenue for the Arunachal Pradesh government, said Union Coal Minister Reddy along with Arunachal Pradesh Chief Minister Pema Khandu in a joint media briefing during the inauguration.
Reddy said the inauguration would mark a “new era of trust, transparency, and transformation” in the region’s mining sector.
“This is not just a mining project. It is a symbol of trust, transparency, and transformation for the people of Arunachal Pradesh. We are bringing sustainable, scientific, and legal mining practices to a region that holds immense potential,” the union minister said ahead of the event.
Chief Minister Khandu said the project would be a major driver of industrial growth and employment in the state.
“This initiative will not only boost revenue but also bring in skill development, infrastructure, and long-term employment for our youth. We are proud to be part of India’s growth journey,” he said.
The Namchik Namphuk coal block, with reserves of 1.5 crore tonnes, was first allocated in 2003 but faced long delays and stoppages due to various challenges. It was revived through a transparent auction process in 2022, opening the doors for private sector entry and marking the end of years of delays.
This initiative carries forward the vision of EAST – Empower, Act, Strengthen, Transform – a guiding philosophy for every initiative in the Northeast. With this development, Arunachal Pradesh joins india’s coal journey, the world’s second-largest coal producer, which crossed a record 1 billion tonnes of production last year.
According to the estimate of coal ministry, mine is expected to generate over Rs 100 crore annually as revenue for the state, creating jobs and prosperity for youth.
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Gold is sold at a discount in Dubai due to Middle East conflict disrupting flights. Traders offer up to $30 per ounce less than London prices.
Dubai Gold Selling Cheaper As Iran War Grounds Flights
Gold is being sold at a discount in Dubai as the widening conflict in the Middle East disrupts flights and hampers the movement of bullion from one of the world’s key trading hubs.
According to a Bloomberg report, traders in Dubai are offering discounts of up to $30 per ounce compared to the global benchmark price in London. The unusual price cut comes as shipments remain stranded due to flight disruptions triggered by the escalating conflict involving Iran and Israel.
Dubai is a key global centre for refining and exporting gold to markets across Asia, including India. However, partial airspace restrictions and heightened security risks have slowed the movement of bullion out of the region.
Why Gold Is Being Sold Cheaper
Gold is typically transported in the cargo holds of passenger aircraft. With several flights from the UAE restricted amid regional tensions, traders are struggling to move bullion to international markets.
At the same time, insurance and freight costs have surged, making shipments more expensive and uncertain. Many buyers have therefore stepped back from placing new orders, unwilling to bear high logistics costs without assurance of timely delivery.
To avoid paying prolonged storage and financing costs while shipments remain stuck, some traders are offering gold at discounted prices.
Although transporting bullion by road to airports in neighbouring countries such as Saudi Arabia or Oman is theoretically possible, logistics firms are reluctant due to the risks and complications of moving high-value cargo across land borders during a conflict.
What It Means For India
India, one of the largest buyers of gold shipped from Dubai, could face short-term supply disruptions if the situation continues.
Renisha Chainani, head of research at Augmont Enterprises Ltd., said several cargo shipments have already been delayed, creating temporary tightness in the availability of physical bullion in India.
However, industry experts as reported by Bloomberg say the immediate impact may remain limited as domestic inventories are currently comfortable after heavy imports earlier this year.
Chirag Sheth, principal consultant for South Asia at Metals Focus, said Bloomberg that India has ample stocks for now, but warned that prolonged disruptions could eventually affect supply if the conflict continues for several months.
Meanwhile, global gold prices have surged this year amid geopolitical uncertainty, with spot gold recently trading above $5,000 per ounce.
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March 08, 2026, 10:03 IST
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Some seven in 10 British adults without a full driving licence say learning to drive is currently unaffordable, according to a survey.
The figure is even higher among younger people, with 76% of 18 to 29-year-olds without a licence saying driving lessons are financially out of reach, the poll for car insurer Prima found.
Overall, 38% said the cost of driving lessons was the biggest deterrent to learning to drive.
Some 32% were put off by the price of buying a car and 15% said the cost of car insurance was the main barrier to learning to drive.
Almost half (45%) said they would consider learning to drive if it became significantly cheaper.
Nick Ielpo, UK country manager at Prima, said: “For a growing number of people, driving is no longer a symbol of freedom – it’s a financial stretch too far.
“Between lessons, buying a car and insuring it, the upfront and ongoing costs are pricing many people out before they even start.”
Find Out Now surveyed 1,134 adults who do not hold a full driving licence between January 21 and 23.
Go Digit General Insurance on Saturday said it has received a demand notice of about Rs 170 crore for short payment of goods and services tax (GST) for nearly five years. The company has received an order copy from the Office of the Commissioner of GST & Central Excise, Chennai South Commissionerate on March 6, confirming GST demand of Rs 154.80 crore levying penalty of Rs 15.48 crore and Interest u/s 50 of CGST Act, 2017 for the period July 2017 to March 2022, the insurer said in a regulatory filing. The company is in the process of evaluating the legal advice on the implications and would file an appeal, it said.
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