Output in the mining and quarrying sector declined 5.5 per cent during November 2012 as compared to the corresponding month of previous year, an official statement from Mines Ministry said. On a sequential basis, the output contracted 0.7 per cent in November 2012 to Rs 17,004 crore in value terms, mainly on account of less output of iron ore, natural gas and
Category: Coal & Mining
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Apex court to hear PIL against export of ore
On February 15, the Supreme Court would conduct another hearing on the public interest litigation filed by an NGO Goa Foundation alleging the state government of allowing export of iron ore without verifying the correctness of the statement made by the exporter. In its recent hearing, the apex court issued notices to the centre and the Goa government on a plea. The NGO argues that the state government violated the orde
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ASSOCHAM warns against cut in export duty on ore
ASSOCHAM warned the government against reducing the export duty on iron ore as the industry body feels that such an action would encourage export and deprive the domestic steel firms of the crucial raw material. The warning from the industry body comes amidst demand from a section of the mining industry to review its e
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China depends less on India for iron ore
China's dependence on India for iron ore has been declining in recent years. The ban on mining in Karnataka and Goa have exacerbated the decline of iron ore export from India to China. Following this, China started relying more and more on South Africa and Australia for ore supply. In 2012, South Africa overtook India to become China's third-bigg
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Odisha govt puts condition on raw material supply
Reports suggest that Odisha government has made some reservation in maintaining its commitment to supply raw material to steel projects, the memoranda of understanding (MoU) for which are already signed. In the case of existing MoUs, the government may not retain any clause committing grant of or recommendation for grant of Mineral Concession, a guid
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Contract opportunities in coal handling equipments
There is tremendous scope for contract opportunities in coal material handling equipments because of rising demand for coal. The Planning Commission expects the country's coal demand to rise to 1,000 million tonne (mn t) by 2016-17. Following are some contract opportunities coal handling equipments.
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Prime Minerals exports 72,892 t ore to China
Recently, around 72,892 tonne of iron ore fines mined in Maharashtra was exported to China from a port in Goa by Prime Minerals Exports. Reports suggest that this is the first shipment of iron ore to China from India since a ban on mining in Goa took effect in October 2012. In October last year, Supreme Court banned mining in Goa after allegations of illegal mining from a federal gove
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NMDC board may revise price or ore next month
Agency reports suggest that the board of NMDC would meet on in the first week of February in order to review the price of iron ore. Industry sources expect the firm to raise prices for February given that ore price at the international market is rising considerably. From $90 a tonne in last September, iron ore price has
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Contract opportunities in mining sector
As the size of the economy grows, so does the demand for mineral resources like iron ore, coal, manganese, copper. India produces around 89 minerals out of which four are mineral fuels, 11 are metallic, 52 are non-metallic and 22 are minor minerals. In order to boost mining output, the central government revised the National Mineral Policy in 1994 and allowed private domestic and foreign investors to explore and exploit iron ore copper, zinc,
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Experts call for right policy in mining sector
Experts urge government to adopt appropriate policies to tap the mining potential in the interior tribal areas. They note that mineral rich states such as Chattisgarh, Odisha and Jhar khand, have high levels of poverty, indicating that mineral wealth has not translated into prosperity, so far. Therefore, they urge gove rnment to come out with policy that facilitates inclusive development of mining sector which takes into account the overall progress of local population.