Page 9 - Mineral Sector

17 mineral mines taken back from states over non-production: Pralhad Joshi

In March, Lok Sabha passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2021

NMDC hikes lump ore rate to Rs 4,100 per ton; fines at Rs 2,910

State-owned NMDC on Thursday hiked prices of lump ore by Rs 200 a tonne and fines by Rs 100 per tonne with immediate effect. The company has fixed the prices of lump ore at Rs 4,100 per tonne and that of fines at Rs 2,910 a tonne. In its last price revision announced on July 12, NMDC had slashed the prices of lump ore and fines by Rs 500 per tonne each to Rs 3,900 and Rs 2,810, respectively. Iron ore is one of the key raw materials used in the manufacturing of steel, and any movement in the prices of the mineral has a direct impact on the rates of steel that has been a matter of concern for the user industries for the past couple of months. Research firm SteelMint attributed the hike to "lower production (of the mineral) owing to monsoons, restocking demand and stability in steel prices are some of the factors supporting iron ore prices". The new rates exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes,

Govt releases Natural Resource Accounting to track mineral, energy deposits

The asset accounts would help identify alternate economic and energy-based resources, and aid in developing an ecosystem for containing illegal mining

State-owned GMDC to expand lignite production as demand increases

Company says 10 million tonnes production this year, sees gaining business from small businesses

Rajasthan enters uranium mining, issues LoI to Uranium Corporation

The Rajasthan government has forayed into the field of uranium mining by issuing a letter of intent (LoI) to Uranium Corporation of India.

NMDC Apr-Feb output jumps 26% to 37.18 MT; sales up 25.5%

In February 2022, the company saw its production growing 11.7 per cent to 4.31 MT from 3.86 MT in the same month last year

Bihar govt to allow exploration of mineral reserves worth Rs 14,594 cr

The Mines and Geology Department has decided to allow exploration of mineral deposit of around 48.40 million tonne of magnetite

Centre wants to loot Jharkhand's minerals, doesn't care development: Soren

Jharkhand Chief Minister Hemant Soren on Friday claimed that the Union government, instead of taking measures for the state's development, is trying to "loot" its rich mineral resources.

Govt notifies amended mineral conservation and development rules

The government has notified the amended mineral conservation and development rules, a move will that will improve mine planning practices

Mineral concession amendments to raise availability, ease pricing pressure

Major changes to mining industry include allowing part surrender of mines, permitting sale of up to 50% of minerals by captive owners and easy transfer of mines

Odisha govt approves projects worth Rs 640.55 crore under OMBADC

The projects worth Rs 640.55 cr were approved under Odisha Mineral Bearing Areas Development Corporation (OMBADC) in the sectors of the development of secondary schools

Need for increase in mineral exploration activities in eastern states: Govt

The Centre has urged Odisha and its neighbouring states to explore untapped mineral resources in order to cater to rising demand and reduce import bills.

Abundant mineral reserves in Raj, need early resolution of issues: Gehlot

Chief Minister Ashok Gehlot said there are abundant reserves of mineral wealth in Rajasthan and using the resources in scientific and environmental-friendly manner can boost the economy of the country

China aims to hurt US by curbing export of rare-earth minerals: Report

Beijing asks industry executives if proposed restrictions will harm western contractors

Boost to production and pvt investment as mining reforms get green signal

Centre removes distinction between captive and merchant mines, will amend the Mines and Minerals (Development and Regulation) Act, 1957 to enforce reforms

Mineral sector's role as essential service acknowledged amid Covid: Govt

The government on Wednesday said the mines and minerals sector is a major employer in rural areas and its role as an essential service has been acknowledged during the coronavirus pandemic

Industry divided on mineral auctioning; mines' development still a concern

The state exchequer is estimated to earn a total revenue of Rs 8 trillion from the auctioned mineral blocks over the lease period, including an estimated contribution of Rs 6 trillion through auction

Cabinet approves pact between India, Finland for cooperation in geology

The MoU aims to provide a framework and a platform to promote and foster cooperation in the fields of geology, and mineral resources between for mutual economic, social and environmental benefit

Mineral sector could be potential driver of high growth: CII to NITI Aayog

A recent study pegged the employment potential of the mining sector at over 4.8 million direct jobs by 2025

Centre asks states to pick 5 new mineral blocks with clearances for auction

The identified blocks would be auctioned along with other blocks without pre-embedded clearances