Page 134 - CW E-Magazine (19-8-2025)

Top Stories

WIDENING POLICY SCOPE
Centre proposes higher NMET contribution to fund overseas

critical mineral acquisitions

The centre has proposed hiking This move will boost the annual trading of minerals, its concentrate or
contributions from mining proceeds, Rs. 1,000-crore collection under the its processed forms (including metals)
hoping to fund more exploration and trust, raising it to Rs. 2,500-crore. through a mineral exchange.
development of critical mineral supply
chains. These changes have been intro- “This amount would be required to “Setting up of mineral exchanges
duced as amendments to the Mines and meet the enhanced scope and territorial will help miners and end-users of mine-
Minerals (Development and Regula- domain of the Trust. An expenditure of rals in determining fair and transparent
tion) Act, 1957, in the lower house, Rs. 8,700-crore in next fi ve years is market prices based on supply and
by Union Coal and Mines Minister envisaged from the Trust under the National demand dynamics,” Mr. Reddy said.
Mr. G. Kishan Reddy. Critical Mineral Mission,” Mr. Reddy said.
Once passed, the bill also empowers
Scope of the National Mineral NMET is being renamed to the centre to provide for registration
Exploration Trust (NMET) is also National Mineral Exploration and of mineral exchanges and revocation
being expanded to allow funding over- Development Trust (NMEDT) to of such registration. Regulations such
seas acquisition of assets. refl ect its enlarged scope. as prevention of cartelisation, insider
trading, circular trading, market mani-
Mr. Reddy said the bill proposes to Besides the critical mineral push, pulation and any other matter which is
increase payment to the Trust by les- these amendments also empower the detrimental to the participants of the
sees from currently 2% of the royalty Central Government to promote deve- mineral exchanges also come under
payable to 3% of the royalty payable. lopment of the market, including scope of this bill.
LEADERSHIP CHANGE
Calibre Chemicals appoints Ravi Annavarapu as new CEO

Calibre Chemicals, a Mumbai- duct pipeline to drive its next phase space, defence and mining industries.
based speciality chemicals supplier and of growth,” the company said. Dr. Annavarapu is a Gold Medallist
an Everstone Capital portfolio com- from IIT-Madras, a Ph.D. in Chemi-
pany, has announced the appointment Founded in 1984 by Mr. Ranjit cal Engineering from M.I.T., USA and
of Dr. Ravi Annavarapu as its Chief Bhavnani, Calibre Chemicals is a manu- an M.B.A from M.I.T. Sloan School
Executive Offi cer. facturer of speciality ingredients for of Management. Prior to the appoint-
nutritional supplements, personal care, ment as CEO at Calibre, he served as
“This leadership addition comes as pharmaceutical intermediates and poly- President of FMC India and Southwest
the company accelerates its expansion, mer industries. Calimara, a subsidiary, Asia, where he led signifi cant business
leveraging its proprietary electro chemis- manufactures high-energy oxidisers transformations, propelled growth, and
try technology and a robust pro- and propellant precursors for the aero- championed digital innovation.
Astral to buy 80% stake in Nexelon Chem

PVC pipes and plastic products material for the company, aimed at cost to Rs. 120 crore, with the capital struc-
maker, Astral Ltd., said its board has optimisation and substantial margin ture to be fi nalised within 60 days. The
approved the acquisition of an 80% improvement. deal is expected to be completed within
equity stake in Nexelon Chem Pvt. Ltd. two to three months. Upon completion,
and a further investment of up to The transaction, which will be exe- Astral will hold an 80% equity stake in
Rs. 120-crore over a period of time. cuted in cash, involves the purchase of Nexelon Chem on a fully diluted basis.
shares at Rs. 80,000 at par value. The Nexelon is in the process of setting up
The acquisition will enable Astral to total investment, including the acquisi- its manufacturing unit and has yet to
manufacture CPVC resin, the main raw tion and additional funding, will be up commence revenue generation.

134 Chemical Weekly August 19, 2025

Contents Index to Advertisers Index to Products Advertised