There was hardly any investment in the mining sector despite the sector was opened up for 100 per cent FDI in February 2000. There is an urgent need to find out ways and means to attract private investment in exploration because government agencies have not been able to find resources
Category: Coal & Mining
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Modern mining equipment will be a key success factor
Equipment companies would like to see better procurement methodologies which are technology-driven rather than just low capital cost-oriented, Somnath Dutta Majumdar, Business Line Manager-Drilling Solutions, and Anirban Sen, Business Line Manager-Underground Rock Excavation, Atlas Copco
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Only a transparent delivery system can attract FDI
India's resource governance system needs to ensure allocation of iron ore resources to all the steel producers, so that effective value addition can happen within the country and India will be less dependent on import of finished steel,
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Better capacity utilisation is needed
Given the present globally competitive environment, the mining industry must work on new financial strategies, aggressive exploration development programmes, investment-friendly policies and regulatory framework, value addition of minerals and the use of productivity enhancing techniques
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Aggressive exploration programmes will ensure raw material security
A sustainable mining industry will contribute to long term development of infrastructure and economic diversification. AK Bhandari, Advisor, Federation of Indian Mineral Industries (FIMI),
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CERC to restructure coal index
The Central Electricity Regulatory Commission (CERC) proposed to restructure the coal price index followed in the country for making payments by power producers to coal imports. Currently, for payments for imported coal, CERC uses a composite index that considers Australian and South African coal.
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Govt to announce more economic reforms
Union Finance Minister informed that the government would unleash more economic reforms in the coming days in order to rev up the investor sentiment and spur growth momentum.
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Preventing illegal mining
In order to curb irregularities in the mining sector, the section 23C of the MMDR Act, 1957 empowers states to frame appropriate rules. The Centre asked states to introduce rules under this section to prevent illegal mining, transportation and storage of minerals.
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Ministry introduces norms to promote mining sector
In order to encourage scientific approach to solve the emerging mining challenges, Union Mines Ministry introduced a set of guidelines for the sector.
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Karnataka cancels mining leases
According to the order of the Supreme Court, the Karnataka government has cancelled 51 iron ore mining leases in Category C. Holders of these mines were charged of carrying out rampant mining illegally outside the lease area