In an environment of slowing economy with threats of a double-dip looming larger than ever, the industry has been hoping for some time for some good news from the government. That wait for mining companies just got longer.
Category: Coal & Mining
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We have taken specific steps to curb illegal mining
The Centre has been taking several steps in recent months to guarantee that the amount of mineral mined matches that licensed and transported.
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New environment may curb mining, not illegal mining
The recent mining scams have sounded a wake up call, and yet definitive action to prevent illegal mining has not come forth.Will new laws such as higher taxation and profit sharing help the cause of the government’s efforts to curb illegal mining through technology and strengthened monitoring? Charu Bahri goes beyond the regular headlines of new scams and ends up not being convinced the new law will curb illegal mining.
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Karnataka mining in limbo
In the state that produces more than 35 million tonne of iron ore every year, accounting for more about 25 percent of the nation’s output, mining and exports of iron ore from the state have come to a complete standstill National Minerals Development Corporation (NMDC)
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Expertspeak: The solution within
Wherever feasible, converting illegal mines to legitimate ones after determining the entrepreneur’s worth will result in better competitiveness, rehabilitation and revenues to the exchequer, says RK Sharma.Obtaining mining approval takes considerable time mainÂly at the state level.
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Cabinet approves new Mining Bill
The Union Cabinet approved the Mines and Mineral Development and Regulation (MMDR) Bill, 2011. The Bill aimed at curbing illegal mining and bringing more transparency in the allocation of licences for mining.The Bill has provisions for 26 percent profit sharing by coal miners and an amount equivalent to royalty by non-coal miners with project affected people.
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Expertspeak: Raw material demand to propel global equipment
The rapidly accelerating global procurement demand for raw materials also presents mining equipment manufacturers with ever greater challenges.New technologies as well as ideas help meet the challenges of the future. Germany is among the most important suppliers for the Indian mining market besides the US and China.
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Coal projects face obstacles
The country’s increasing energy needs are being hampeÂred by regulatory delays for coal mining projects. India could import around 250 million tonne of coal a year by 2015, more than double import levels this year, says Coal Minister Sriprakash Jaiswal.
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NMDC stake in Sunflag
NMDC has signed an initial agreement with Sunflag Iron & Steel Co to acquire a 26 percent stake in a Mozambique coal project.The pact with Sunflag forms part of NMDC's plan to invest in coking coal and iron ore assets overseas to propel its iron ore and upcoming steel projects.
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The L-Factor
It is as though news of the slow growth of 7.7 per cent-the slowest in six quarters-as reported for the quarter ending June, as against a healthy 8.8 per cent in the same period last year, was anticipated with resignation.