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India, central Asian countries express interest in joint rare earths exploration

India, central Asian countries express interest in joint rare earths exploration

Business Recorder17 hours ago

NEW DELHI: India and five central Asian countries have expressed interest in joint exploration of rare earths and critical minerals, they said in a joint statement on Friday after the fourth meeting of the India-Central Asia Dialogue, held in New Delhi.
India plans rare earth magnet incentives as supply threat mounts
They also called upon relevant authorities for an early meeting of the India-Central Asia Rare Earth Forum.

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India, central Asian countries express interest in joint rare earths exploration
India, central Asian countries express interest in joint rare earths exploration

Business Recorder

time17 hours ago

  • Business Recorder

India, central Asian countries express interest in joint rare earths exploration

NEW DELHI: India and five central Asian countries have expressed interest in joint exploration of rare earths and critical minerals, they said in a joint statement on Friday after the fourth meeting of the India-Central Asia Dialogue, held in New Delhi. India plans rare earth magnet incentives as supply threat mounts They also called upon relevant authorities for an early meeting of the India-Central Asia Rare Earth Forum.

India's GAIL sells LNG cargo as early monsoons cause weak power demand, say sources
India's GAIL sells LNG cargo as early monsoons cause weak power demand, say sources

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time19 hours ago

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India's GAIL sells LNG cargo as early monsoons cause weak power demand, say sources

SINGAPORE: GAIL (India) Ltd has re-sold one liquefied natural gas (LNG) cargo this week, said three market sources on Friday, as the state-run firm's storage tanks for the fuel are full amid weak power demand in India. Fewer LNG imports by GAIL, the country's largest gas distributor, could reduce India's overall appetite for the super-chilled fuel. India is the world's fourth largest LNG buyer, importing about 26 million metric tons last year as it goes through rapid urbanisation and industrialisation and to meet growing power demand. However, GAIL's LNG tanks are filled to the brim as power demand slumped due to cooler weather from the monsoon season, leading the company to sell its LNG cargo, said two of the sources. GAIL did not immediately respond to a request for comment. The three sources did not identify which cargo GAIL sold, but shiptracking data shows two LNG vessels controlled by GAIL diverting from their routes this week. LNG tanker Gail Urja, which is currently in the southern Atlantic Ocean, was en-route to reach the Dahej terminal in India on June 21 before it made a U-turn on June 5 to head to the Gate LNG terminal in the Netherlands, Kpler data showed. The vessel loaded LNG at Cove Point, Maryland, in the United States on May 21-22, Kpler and LSEG data showed. GAIL has a 20-year deal to lift 2.3 million metric tons per annum of LNG from Cove Point. It typically takes about four weeks for LNG tankers to travel from Cove Point to India. GAIL (India)'s quarterly profit falls more than expected on lower gas margins, cost pressures Meanwhile another LNG tanker, Grace Emilia, has changed its course several times around Reunion Island and Mauritius since June 2, the data showed. The vessel is now heading towards Asia. India's weather office had forecast an above-average monsoon season for the second straight year in 2025, with annual rains arriving at their earliest in 16 years. The early monsoons had alleviated sweltering temperatures nationwide at the end of summer, with a sharp drop in temperatures cutting electricity consumption and briefly pushing down prices to near zero on power exchanges. Increased generation from hydropower and nuclear had also led to a decline in natural gas-fired power output, which in May fell at the steepest rate in nearly three years.

Rail & road access to Central Asia, Europe & Russia to be game changer: Aleem
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Rail & road access to Central Asia, Europe & Russia to be game changer: Aleem

ISLAMABAD: Federal Minister for Communications Abdul Aleem Khan has observed that access to Central Asian countries, Europe and Russia through rail and road connectivity will be a game changer. He emphasised that improving communication infrastructure is a key priority to achieve economic growth and meaningful discussions are under way with various countries in this regard. He expressed these views during a meeting with Ambassador of Kazakhstan Yerzhan Kistafin who called on him in Islamabad. The meeting included an in-depth discussion on matters of mutual interest, bilateral cooperation and the outcomes of the recent ECO (Economic Cooperation Organization) summit. Abdul Aleem Khan highlighted that strengthened partnerships between major South Asian countries will yield positive results. He reiterated Pakistan's commitment to playing a proactive role on all international platforms and expressed optimism about a brighter economic and financial outlook for the country in the coming days. Kazakh Ambassador Yerzhan Kistafin conveyed his goodwill gesture and congratulated Federal Minister Abdul Aleem Khan and the entire Pakistani nation on their success in the recent war with India. He acknowledged Pakistan's distinguished status in the Islamic World and expressed his nation's continued prayers and support. He also extended Eid-ul-Adha greetings and reaffirmed Kazakhstan's commitment to offering all possible support to Pakistan. Copyright Business Recorder, 2025

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