In the next two to four months, Indian government plans to set up an independent regulatory authority for coal sector, Finance Minister P Chidambaram said at the Canada India Business Council meeting. The proposed regulatory authority would become effective mechanisms to address problems being faced in the implementation of coal projects
Tag: Mining
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OMDC awaits govt nod for mining operation
Orissa Minerals Development Company (OMDC) is awaiting approval from the Odisha government to start mining from its Kolha Roida iron ore mine. It is learnt that the mine is cleared of all litigation and given all approvals, so now it is left to the state government to allow it to start operations. Kolha Roida is on
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Factory output rises a tepid 0.6%
Factory output as measured by the Index of Industrial Production (IIP) grew a marginal 0.6 percent in February 2013 from the year-ago month. The cumulative growth for the period April-February 2012-13 over the corresponding period of the previous year stands at 0.9 percent
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Allocatees must follow check list of Odisha govt
The steel & mines department of Odisha government cleared a checklist, which has to be observed by the allocatees of coal blocks in the state. According to the checklist, the allocatees must furnish status of their end-use plants linked to coal blocks. Companies whose coal blocks are at an advanced stages having either been granted prospecting licenses (PL) or mining leases (ML). These companies must com
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PM says govt takes steps to revive investment climate
Prime Minister, Manmohan Singh said the government was addressing many impediments affecting the implementation of infrastructure projects in order to revive the investment climate domestically. He said this during his address at the CII National Conference and Annual General Meeting, in
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NMDC trims price of lumps for 5th time since Oct
Iron ore mining firm NMDC reduced price of higher grade iron ore (lumps) for the fifth time since last October. This time, the state-run miner cut the price of lumps (having iron content of 62 per cent or above) by about 7 per cent for April. However, the company has not changed the price of iron ore fines (lower grade) for the second month in succession
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FIMI wants govt to withdraw export duty on bauxite
Reports indicate that the Federation of Indian Mineral Industries (FIMI) requested the central government to withdraw export duty of 10 percent levied on export of low grade bauxite. The industry body argues that the proposed levy may force mine closures in states like Gujarat and Maharashtra and affect the direct and indirect employment opportunities for
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Govt identifies 12 coal projects for speedy clearance
Union Cabinet Secretary Ajit Seth informed that the government identified 12 coal mining projects with an annual coal production of 36.9 million tonne (mn t) for expeditious clearance within a month. These projects involve an investment of Rs 1,347 crore. Meanwhile, it may be noted that the Cabinet Committee on Investment (CCI) streamlined the proc
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Odisha govt may set up panel for e-auction
Media reports indicate that Odisha government
plans to set up a special committee under the steel and mines department to take care of e-auction of iron ore. It is learnt that the proposed committee would carry out the task in association with MSTC. The online auction conducting agency, MSTC is ready with all nece
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FIMI wants govt to encourage investment
Federation of Indian Mineral Industries (FIMI) is an all-India federation registered under the Companies Act, 1956 to promote the interests of mining, mineral processing, metal making and other mineral-based industries