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 …
The Supreme Court Tuesday asked the Centre to respond to a plea seeking quashing of allotment, extension or continuation of leases to firms for mining iron ore from over 358 mines across the country without any fresh evaluation. A bench of Justices S A Bobde and S A Nazeer issued …
Mumbai: Mining will not be allowed in areas declared as forests, wildlife sanctuaries and buffer zones. These were among the new rules for mining of minor minerals that were approved by the state cabinet on Wednesday to make mining an ecologically sustainable industry. Now, every district will have to prepare …
The Australian High Commission is pinning its hopes on the Odisha government and the Centre's new Mines & Minerals (Development & Regulation) MMDR Bill to pave the way for revival of its mining giant- Rio Tinto's iron ore mining project in the state. The mining behemoth was to take up …
The mines ministry has told a Parliamentary Standing Committee on Coal and Steel that it is imperative to compensate the project affect persons (PAP) in the mining zones by allotting them shares in the mineral exploration companies to ensure their well-being. The ministry, brushing aside the mining industry’s concerns, has …
New Delhi The government can go ahead and allocate mining leases on a first come, first served (FCFS) basis, attorney general GE Vahanvati has told the government. The AG’s advice, sought by the mines ministry where around 400 requests for mining leases are pending, comes at a time when the …
Following the Supreme Court warning that the first-come-first-serve system for granting mineral concessions may be misused “by unscrupulous people,” the mines ministry has sought legal opinion on how to treat the applications, which are being currently processed. It has sought the law ministry’s views on whether to process them on …
New Delhi Just a day before the Election Commission was set to issue the notification for the 2009 general election, the United Progressive Alliance-I government had hurried to allocate large captive coal blocks to the Tata-Sasol combine and Jindal Steel and Power (JSPL) for their respective coal-to-liquid projects in Orissa, …
But company says govt decision to permit use of incremental coal does not result in any loss to exchequer or undue benefit The draft report of the Comptroller and Auditor General of India (CAG) on coal allocation has alleged undue benefits of Rs 15,849 crore to Reliance Power Ltd (RPL) …
There is still more bad news for coal mining companies, with the mines ministry recommending that coal miners mandatory share 100 per cent royalty with project-affected families. The recommendation, if implemented, could severely dent coal miners’ bottom line. It would not only increase the annual outgo of monopoly producer Coal …
The mining industry will have to wait till at least the monsoon session of Parliament for passage of the new Mines and Mineral Development and Regulation (MMDR) Bill. The legislation is being examined by a parliamentary standing committee. In an interview here with Business Standard, the secretary in the ministry …
New Delhi THE ministry of corporate affairs has suggested some fine-tuning of the new Mines Bill, which is being examined by a parliamentary panel and provides for profit-sharing by mining firms with project-affected people, among other provisions. Questioning a clause in the new Bill that provides for issuing at least …
Profit-sharing with tribal people and auctioning of mineral concessions are not the only landmark changes proposed in the new mining Bill. The Bill also envisages ushering in a regime of royalty concessions for the first time in the country. The proposal to dole out concessional royalty rates to companies in …
Cabinet approves landmark legislation The Union Cabinet on Friday approved the landmark Mines and Mineral Development and Regulation (MMDR) Bill, 2011 that provides for mining companies to keep aside 26 per cent of their net profits for a Mineral Development Fund to be used for the development and rehabilitation of …
New Delhi The Union Cabinet is set to clear a slew of important legislation and amendments on Friday. On the agenda is the Mines and Minerals Development and Regulatory (MMDR) Bill, 2010, amendment to the Civil Liability for Nuclear Damage Act, 2010, amendment to the Press and Registration of Books …
New Delhi Environmental negligence and apathy to genuine social concerns over industrial projects will cost corporate India dear, with the government planning to make company boards directly accountable for such lapses. The corporate affairs ministry has inserted a clause in the Companies Bill under which the board of every company …
Industry groups may be disappointed over benefit-sharing norms. The ministry of mines has sought clearance from the Cabinet for making amendments to the existing mining legislation. Besides introducing a benefit-sharing regime for the first time, the proposed law will also be making provisions for regulating mining in the country. The …
