Business Standard
Thursday, Feb 23, 2012
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||||Economy & Policy||||| 
 Section Home | News Now | Today's Paper | Features & Analysis | Politics & Public Affairs | Q&A | Columnists | BS Says
Home > Economy & Policy Live Markets | Commodities
 

ICFRE for extraction of iron ore up to 30 mt in Karnataka
BS Reporter / Chennai/ Bangalore Jan 06, 2012, 00:57 IST

The macro-level Environment Impact Assessment (EIA) Study conducted by the Indian Council of Forestry Research and Education (ICFRE) in the mining areas of Chitradurga and Tumkur in view of the illegal iron ore mining, has recommended extraction of iron ore to 5 million tonnes (mt) per annum. In its earlier report on Bellary it had recommended for extraction of 25 million tonnes from Bellary district.

The ICFRE has said the ceiling of 5 MT should be permitted provided all environmental and other safeguards are in place and due diligence is exercised by all the agencies concerned.

Taking into account the prevailing situation and demand of iron ore in India, it concluded that only 30 mt of iron ore should be extracted in Karnataka, it said in the report a copy of which is available with Business Standard.

The ICFRE submitted its report on Chitradurga and Tumkur to the Supreme Court in December 2011. The apex court is likely to resume hearing on illegal mining case on January 20, 2012. From 2004 onwards, large quantities of iron ore were removed from the Chitradurga district as a result of a sharp increase in the international demand fuelled by China leading to environmental degradation of the area. The Indian Bureau of Mines (IBM) had given its approval for an upward revision of the quantities of ore that could be removed annually by a number of mines.

For Chitradurga district, this revision was from 3.95 mt to 7.26 mt under various clearances. The IBM had taken its decision based on the data furnished by mine owners.

“There is a need to have an independent assessment of the ore reserves in individual mines and a stringent review of the environmental safeguards installed by the mine before raising the limits of annual extraction of ore. IBM has to keep in mind the ‘inter-generation equity’ while giving its consent for mining as iron ores are finite resources,” ICFRE said.

The study also suggested that IBM must fix an annual cap on ore extraction from the area, keeping in view not only the ore availability but also the ecological sustainability of the area.

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Volatile markets end lower
- Adani to invest $6 bn in overseas expansion by 2015
- Kingfisher, I-T in talks over de-freezing accounts
- Ramlila verdict: Jethmalani demands Chidambaram's resignation
- Midnight crackdown: SC raps Delhi police, Ramdev
  Read Business news in 
- Now property search gets more exciting than ever before!
- High Growth Business Opportunities in Africa - Register to explore
- Medium-sized businesses are the engines of a smarter planet.
- Earn over 30 litres of Free Fuel, click to know more.
- Office 365 for professionals and small businesses.
- Financial Learning now made easier and more convenient.
- Earn fuel worth Rs.2400 with Citi
- India's No. 1 Property Site. Click here to know more..
- Diseases earlier, Saving Costs, Extending Lives. Know More..
- Get 5% cashback on telephone bills with Citi
- I have opened my business to the world. Know more.
- Exim Bank Conclave on India - Africa Project Partnership. Know more..
- Boost the performance of your Sales team
- Creating Wealth made simple the SIP way. Know more..
- Improve Patient Care & Experience. Click here to know more
- Invest in Real Estate. Villas in B?lore starting @ Rs.66 lacs
- Win a Business Class Ticket to Europe..Know more..
- Enjoy the journey as much as the destination. click to know more..
- Now, take your financial classroom wherever you want
Share this Story  
 
 
   Discussion Board / User Comments    
Display Name  Email-Id  
Post your comment
 
 
Latest Messages
SmartInvestor+ E-zine
  Pay Rs.747/- for 3 years and
  get a branded watch FREE

  Subscribe Now
BUDGET POLL
Should diesel cars be taxed more than petrol cars?
  Yes
  No
  Can't say
Submit
Most Popular
Read
E-Mailed
Commented
   
- Bankers refuse lifeline to troubled Kingfisher
- Broad-based rally shows fatigue signs, say experts
- Claude Smadja: Europe will never be the same
- Indicus Analytics: Pulses of the nation
- Banks, cap goods firms dominate BSE Greenex
 
 More  
New Ipad Application
 Business Standard's all new IPad  App
 Click here to download for free
  BS Specials  
    Full coverage of elections in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa
  Hot Searches  
 
IRFC bond |  Antrix-Devas |  Rafale fighter |  Junglee |  IPL 5 |  Dhanlaxmi Bank |  Thomas Cook |  TCS |  Sarfaesi Act |  Vodafone |  Aakash tablet |  Sodexo |  Rupee |  Samsung Galaxy Note |  Kingfisher Airlines |  Silver |  Provident Fund |  income tax refund |  Anna Hazare |  iPhone |  Reliance Industries |  SEBI |  BSNL |  BSE |  NSE |  Mukesh Ambani |  Anil Ambani |  Infosys |  Pranab Mukherjee |  Sonia Gandhi |  Rahul Gandhi |  New Pension Scheme |  Reliance |  RBI |  GDP |  Gold |  Ratan Tata |  ICICI |  B-School |  Sensex |  Tax calculator |  Home Loan |  Personal Finance |  inflation |  oil prices |  Barack Obama |   
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
FOR HOT PRODUCTS
BS Bazaar.com
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us