With misclassification of different grades of minerals by mining leaseholders found to be at the root of illegal mining, the Union mines ministry has tightened the procedure to be followed by states for grading and determining the average sale price (ASP) of iron ore and other major minerals. Pointing out …
Forced to cut prices by 2-3% due to cheaper imports from Japan, Korea and China At a time when the mining sector in Karnataka seems to be getting back on track, the steel sector faces another hurdle—pricing. With global steel prices on a downswing, owing to low raw material rates, …
New Delhi The Supreme Court on Thursday decided to reopen its 2010 judgment that had ruled against granting of mining lease to JSW Steel and Kalyani Steel in Karnataka. The reopening of the case gives some hope to these companies which are keen to do mining of iron and manganese …
Shah Commission had said the iron ore scam could have caused a loss of . 35,000 cr to exchequer. The Goa government’s decision to probe irregularities pointed out by a Centre-appointed panel in iron ore mining has left miners worried. “This comes as a shock. We are already replying to …
The Supreme Court has ordered the setting up of an expert committee to ascertain the compensation to be given by mining lease holders in Karnataka for illegal extraction of iron ores and consequent damages to the ecology of the area. As it laid down certain “absolute” initial conditions to be …
The state steel and mines department has circulated a new guideline for second and subsequent renewal of iron ore, manganese, chromite and bauxite mines in the state. While framing the guideline, the department has invoked a 1996 judgement of the Supreme Court which ruled that second and subsequent renewals cannot …
Suspended mining activities after an expert panel formed by federal govt found serious illegalities and irregularities In a move that spells further trouble for mining industry in Goa, the Manohar Parrikar government has decided not to allow mining activity until findings of the Public Accounts Committee and Justice M B …
Secretariat march today Protesting against the new Supreme Court directive asking small and medium crusher and quarry owners to secure NOCs from the Union Ministry of Environment and Forests for their operations, the Kerala Crusher and Quarry Owners Association coordination committee will hold a Secretariat march on Thursday, association officer-bearers …
Bhubaneswar: Ahead of the week-long Odisha visit of the Justice M B Shah Commission, beginning from October 3, to probe the mining scam in different parts of the country, the state government today said it was ready with documents for verification by the six-member team. Odisha government has no hesitation …
New Delhi A petition was filed on Wednesday in the Supreme Court to restrain the resumption of iron and manganese ore mining in Goa amid a judicial commission estimating a loss of R35,000 crore to the exchequer due to illegal mining in the state since 2000. It also sought to …
New Delhi: A multi-disciplinary investigation has detected a massive fraud by several mining companies by showing transport of iron ore for exports through railways as movement for domestic consumption. The domestic freight charge for iron ore transportation via railways is just one-sixth of the export rates. The fraudulent claim may …
A petition was filed on Wednesday in the Supreme Court to restrain the resumption of iron and manganese ore mining in Goa amid a judicial commission estimating a loss of Rs 35,000 crore to the exchequer due to illegal mining there since 2000. The Public Interest Litigation (PIL) petition filed …
Mideast Integrated Steel Ltd (MISL), a Mesco group company having an one million tonne pig iron plant at Kalinganagar in Jajpur district of Odisha, plans to upgrade the unit to a 1.2 million tonne finished steel product facility by the end of December 2014. “The company has begun upgrading its …
The Odisha government has decided to impose levy of Rs 1 per tonne on mineral transported through the electronic route. The state cabinet on Tuesday okayed an amendment to the Odisha Minerals (Prevention of Theft, Smuggling and Illegal Mining and Regulation of Possession, Storage and Transport) Rules-2007 to enable the …
Posco India may have to abandon its proposal for swapping of high alumina content iron ore found in the state with high grade ore from outside to meet the quality parameters of its proposed 12 million tonne greenfield steel project in Odisha. Even the steel behemoth’s plan to swap iron …
Iron ore miners are contesting the levy of a forest development tax by the forest department in Karnataka, but the levy has been incredibly beneficial for the exchequer’s coffers. Selling Karnataka’s forest produce like grass, amla, bark, lac, honey, silk cocoons and bamboo to industries attracts a 12 per cent …
The central government has banned states from allowing sale or export of iron ore by companies granted mining leases for own steel production. “The entire ore produced in the mining operation (of captive mines) shall be used exclusively for own consumption in iron or steel making and cannot be either …
NMDC has also decided to rope in an international consultant for devising a proper and professional pricing policy in place of the pricing formula currently followed Public sector mining company NMDC Ltd will take a call on iron ore pricing for the December quarter at its board meeting on October …
PANJIM: Two days ago, the Manohar Parrikar government went for Rs 200 crore market borrowing, which it says would be utilized for infrastructure development and social sector schemes. The borrowing which is a part of Reserve Bank of India’s essential borrowing scheme is the second for the current financial year. …
However, the move did not have any impact on the JSW stock Amid the alleged irregularities in the allocation of coal blocks taking their toll, on Monday, JSW Steel joined the list of companies whose coal blocks had been deallocated. The block, Gourangdih ABC in West Bengal, had been jointly …
Goa government has finally resolved to shut down the mines pouring manganese and iron ore in the Selaulim reservoir, the source of potable water for 55 per cent of the state population. The state will have to shut down the mines operating within the river zone of Selaulim dam, Chief …
