Instead of just renewing 96 iron ore mining leases in Goa, the state government must auction them on the lines of the telecom spectrum auction so that it stands to benefit financially, state Congress spokesperson Sudip Tamankar said to reporters. He said the state government could mop up Rs 300 lakh crore over 20 years of the lease period and this could offset the loss of revenue to the state government beca
Tag: Mining
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Chhattisgarh govt gives sops to steel sector
Chhattisgarh government reduced the entry tax on iron ore, pig iron and steel scrap purchased from outside the state to 0.5 per cent from 1 percent in the budget for 2013-14. The state government also reduced the value-added tax on TMT steel bars from 5 to 3 per cent, while the entry tax on iron ore
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Minister justifies export duty on iron ore
Minister of Mines, Dinsha Patel justified the increase in export duty on iron ore saying that such a measure would discourage export of the key raw material and increase domestic availability of the same. Export of iron ore is regulated through fiscal measure by imposition of export duty. Accordingly the central gove
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KIOCL calls off deal to explore Akjoujt asset
Reports suggest that Kudremukh Iron Ore Corporation (KIOCL) called off a deal with Curve Capital Ventures for developing Akjoujt iron ore asset in the Islamic republic of Mauritania, in the West African desert region. KIOCL and the London-based venture capital fund signed a non-binding agreement for developing the Mau
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CEC may allow auction of ore dumps in Bellary
Informed sources indicate that the Central Empowered Committee (CEC) may allow the auction of 6 million tonne (mn t) of iron ore dumps at various mines in Bellary district of Karnataka. Earlier, the committee visited various mines in the district and estimated that about 6 mn t of dumps could be auctioned. It is learnt that the CEC may allow auction of th
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NMDC seeks equity partner for 3 mn t steel project
Public sector iron ore miner NMDC, which plans to set up a 3 million tonne (mn t) steel plant at Nagarnar in Chhattisgarh, is looking out for an equity partner for the project. The project reportedly faces delay because NMDC whose core competency lies in iron ore mining could not proceed owing to unavailability of a steel maker as a part
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NMDC seeks equity partner for 3 mn t steel project
Public sector iron ore miner NMDC, which plans to set up a 3 million tonne (mn t) steel plant at Nagarnar in Chhattisgarh, is looking out for an equity partner for the project. The project reportedly faces delay because NMDC whose core competency lies in iron ore mining could not proceed owing to unavailability of a steel maker as a part
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Goa govt mulls ban on fresh ore mining
According to an affidavit filed by the Goa government in the Supreme Court, the state government plans to ban completely all fresh excavation of mineral ore. The affidavit, which was filed in response to a public interest litigation (PIL) seeking action against rampant illega
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Goa govt mulls ban on fresh ore mining
According to an affidavit filed by the Goa government in the Supreme Court, the state government plans to ban completely all fresh excavation of mineral ore. The affidavit, which was filed in response to a public interest litigation (PIL) seeking action against rampant illega
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Use of low-grade ore raises cost of steel firms
An agency report quoted Basant Poddar, Vice President of Federation of Indian Mineral Industries (FIMI) as saying that the use of low-grade iron ore by steel firms may raise the operational cost of these firms. On the back of acute shortage of iron ore in the country, steel firms are forced to use low-grade ore to run