| Earth is minor minerals | 16-NOV-09 |
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| The Supreme Court (SC) last week dismissed the appeals of Som Datt Builders Ltd against the Allahabad high court judgement raising the question if ‘ordinary earth’ used for filling or levelling in construction of embankments, roads, Railways and building are ‘minor minerals’ inviting royalty. The Centre, in a 2000 notification under the Mines and Minerals (Development and Regulation) Act, has specified minor minerals as an item which attracted royalty. The company in this case entered into a contract with the National Highway Authority of India for widening G T Road in Kanpur region. It bought earth from the farmers and land holders. The Centre demanded royalty on the earth, claiming it to be minor minerals. The company moved the high court which dismissed its petitions. It appealed to the SC. |
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| Visa Steel posts Rs 8.71cr profit | 31-OCT-09 |
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| Visa Steel, part of the Rs 5,000-crore Kolkata-based Visa Group with interests in steel, power, shipping and logistics, has posted a net profit of Rs 8.71 crore during the second quarter (July-September) of this fiscal. The company recorded a revenue of Rs 252.81 crore and EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 44.24 crore during the said period. |
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| Universal Cables & IFGL Q2 results | 31-OCT-09 |
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| Universal Cables Limited, belonging to the M P Birla group, has clocked in a net profit of Rs 6.95 crore for the quarter ended September 30, from a net loss of Rs 1.37 crores in the corresponding quarter of the previous year. Net sales were at Rs 130.11 crore against Rs 157.96 crore in the previous corresponding quarter. |
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| NMDC Q2 net dips 18% at Rs 771 cr | 28-OCT-09 |
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| The company had a net profit of Rs 944.93 crore in the September quarter of FY'09, NMDC said in a filing to the Bombay Stock Exchange. |
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| States may get free hand in mine allocation | 20-OCT-09 |
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| The Centre is planning to introduce sweeping changes in mine allocations, giving states unbridled power in deciding on the beneficiary for all minerals, except coal and atomic minerals. |
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| Govt mulls 10% cess on minerals' royalty | 25-SEP-09 |
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| The government is considering levying up to 10 per cent cess on royalty charged on minerals like iron ore, copper and lead that would be used to promote scientific mining practices — an idea opposed by the mining industry. |
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| The roller coaster ride of metals and minerals | 22-SEP-09 |
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| Metals and minerals without exception have been on a roller coaster ride since the beginning of 2008 with prices in many cases first rising to record levels only to fall rapidly, subsequently causing widespread distress.The swing in fortunes of commodities is a fallout of a big ticket financial crisis hitting the real economy. |
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| Adhunik Metaliks arms to invest Rs 3,350 cr | 11-SEP-09 |
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| Adhunik Metaliks (AML) subsidiaries Orissa Manganese & Minerals and Adhunik Power & Natural Resources will jointly invest Rs 3,350 crore in mining and power business over the next two years, a top company official said today. |
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| McNally to buy German firm's coal biz | 21-AUG-09 |
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| Engineering major, McNally Bharat Engineering today said it will acquire KHD Humboldt Wedag Internationals' world-wide coal and minerals business and its manufacturing facility in Cologne, Germany for an undisclosed amount. |
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| Gurajat NRE Minerals gets NoC to aquire Rey Resources | 13-AUG-09 |
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| Gujarat NRE Minerals Limited (GNM), an Australian Subsidiary of Gujarat NRE Coke Limited, has received a no-objection from the Australian Government under the Foreign Acquisition and Takeovers Act, 1975 for an off-market takeover to acquire entire shares of Rey Resources Limited (REY). This was one of the preconditions set by GNM while making the bid, which has been satisfied with the company getting the approval for acquiring up to 100 per cent of the shares in Rey Resources Ltd. |
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| Gujarat NRE gets green signal from Australian Govt | 12-AUG-09 |
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| Gujarat NRE Minerals (GNM), an Australian subsidiary of Gujarat NRE Coke has received no objection letter from the Australian government under the Foreign Acquisition and Takeovers Act. This has given further boost to the company's plans of an off market takeover to acquire entire shares of Rey Resources (REY) in Australia. |
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| Gujarat NRE to commission its NSW mine soon | 12-AUG-09 |
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| Gujarat NRE Minerals Ltd, Australian subsidiary of Gujarat NRE Coke Ltd, is in the final stages of commissioning its longwall at the Wongawilli hard coking coal mine near Wollongong in New South Wales. |
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