The World Meteorological Organization’s State of the Climate in Asia 2024 report warns that the region is warming nearly twice as fast as the global average, driving more extreme weather and posing serious threats to lives, ecosystems, and economies. In 2024, Asia experienced its warmest or second warmest year on …
Industry chambers led by Confederation of Indian Industry (CII) and FICCI on Friday sought a review of the Mines and Minerals (Development and Regulation) Bill, 2011 approved by the Union Cabinet stating that the industry was concerned on royalty, profit sharing and the methodology of providing assistance to project-affected persons. …
Mining companies have warned of a price spiral in commodities once the new mining law provisions are in place. The industry sees the government decision of mandatory profit and royalty sharing impacting it by an estimated Rs 15,000 crore every year. This would include a Rs 12,200-crore hit on non-coal …
New Delhi Miners’ riches will soon have to be shared with the people affected by their activity. The Cabinet on Friday gave its approval to a Bill which proposes to make it mandatory for mining companies to compensate the local population impacted by mining operations. The Bill will be introduced …
Other miners to share royalty, as cabinet clears draft mining Bill; industry frets. In a landmark decision that will impact the entire mining and mineral-based industry in the country, the government on Friday announced an overhaul of the law governing the sector. The new framework will introduce a benefit-sharing regime …
State-owned NMDC, which had recently struck a deal to acquire 50 per cent in Australia’s Legacy Iron Ore for about Rs 90 crore, is in the process of acquiring five more mines abroad. Chairman and Managing Director Rana Som told Business Standard the largest iron ore miner in the country …
New Delhi Government-owned iron ore producer National Mineral Development Corporation (NMDC) on Wednesday said that it is looking to e-auction about 2 lakh tonne of iron ore from Karnataka mines starting this week to provide some relief to the steel companies. “I believe this (the auction) will take place this …
Karnataka’s steel industry, which is reeling under an unprecedented iron ore crunch, has found deficiencies in the government’s recent attempts at restoring the supply of the mineral in the state , going by an affidavit filed before the Supreme Court on Monday. Simultaneously, JSW Steel, the biggest steel-maker in the …
Bangalore Steel makers, including global steel giants ArcelorMittal and Posco, are expected to slow down the pace of their projects in Karnataka as the ministry of environment and forests (MoEF) has decided not to clear any proposals in the state till the mining ban is lifted. According to sources in …
The Central Empowered Committee (CEC) has recommended an investigation by the Central Bureau of Investigation (CBI) into alleged illegal activities in Bellary district of Karnatka where Associated Mining Company (AMC) and NMDC Ltd hold mining leases. The CEC gave its latest report to the Supreme Court on Thursday. According to …
India’s biggest mining company, the National Mineral Development Corporation (NMDC) has snapped its three-year old ties with the British-Australian mining group Rio Tinto. The move has come at a time when the Indian public sector unit is pursuing an aggressive acquisition strategy in Australia. NMDC's overseas ambitions NMDC hoped to …
India’s biggest miner National Mineral Development Corporation (NMDC) and the Anglo-Australian biggie Rio Tinto has formally decided to snap ties. The move comes at a time when the Centre is trying to streamline mining laws and facilitate both domestic and foreign investments in the mineral sector. NMDC and Rio Tinto …
Bangalore E-auction of piled-up iron ore at the mining sites in Karnataka covered by the recent Supreme Court (SC) order is expected to clear the higher grade ore while the miners may be forced to wait for selling their low grade material. The SC has allowed to clear already extracted …
SC-appointed panel to sell 1.5 million MT a month In a relief to the starving steel firms left with little or no ore after mining operations were suspended in Bellary and other districts, the Department of Mines and Geology on Tuesday invited interested buyers to register for the e-auctioning beginning …
A consortium of Indian public sector and private companies will compete with American, Canadian and Iranian companies to win the bid for the exploring the the prized Hajigak iron ore mines in Afghanistan. The seven-member grouping, which has planned to set up a steel plant in the country’s Bamiyan province, …
Steel plantA consortium of leading Indian steel and iron ore producers, led by Steel Authority of India (SAIL), today said it was hopeful of getting selected as the preferred bidder for Afghanistan's Hajigak iron ore deposits. Bids for the 1.8 billion tonne iron ore mines were opened today, but the …
Bharat Heavy Electricals Ltd (BHEL) said on Monday that it has bagged a Rs 1,395-crore contract from National Mineral Development Corporation for the setting up a raw material handling system for an integrated steel plant at Nagarnar in Chhattisgarh. The turnkey contract includes execution of a system that can receive …
India's largest iron ore miner Navaratna company NMDC is now on a shopping spree. It has been traversing the continents looking for precious mineral assets for use in India for some time now. As a part of this effort, NMDC has tied up with the Russian steel producer Severstal.
The all-powerful iron ore mining mafia of Karnataka has hurled red dust into the eyes of democratic India with impunity, and for long. Convinced of their invincibility, the Reddy brothers, along with their mentors and cohorts, have ravaged the state’s rich mines. Between April 2006 and July 2010 the state …
Karnataka’s Lokayukta Santosh Hegde’s report is a sordid story on the rise of India’s mining poster boy, Bellary. The protagonists of the script, the Reddy brothers, used muscle and money to grease their way through government departments. Initially, it was all gold. But Hegde’s report exposed the dingy substrate of …
Bangalore The team appointed by the Supreme Court (SC) to study the impact of mining on the environment in Karnataka’s Bellary district has found violation of rules by some companies engaged in mining there. “Some violations have definitely taken place. The Bellary district deputy commissioner told us that illegal mining …
