Page 2 - Miners

Top Headlines: PM Modi woos US investors, relief for Voda Idea and more

Here are the top business headlines on Thursday morning

Miners want mandatory capex rule relaxed as workers stay away fearing Covid

None of the merchant mines in Odisha whose lease validity expired by March 31 has been able to restart. Though the successful bidders have got LoI, they awaiting formal vesting orders

Miners seek moratorium on dues as lockdown cripples operations

Experts believe Q1 will be a complete washout for the sector; assuming subdued activity during monsoons or Q2, revival is only expected towards the second half of FY21

Navy abandons efforts to pull out decomposed body of miner in Meghalaya

At least 15 miners are trapped inside the mine since December 13 last year after one of them accidentally punctured the wall of the mine

Miners want more bidders for better price discovery at auctions

Mining companies have suggested a string of changes in the bidding parameters to make auctions of mineral blocks more attractive and ensure better price discovery of the auctioned assets. As the Union mines ministry mulls changes in the Mineral Auction Rules-2015, the Federation of Indian Mineral Industries (Fimi), the body lobbying for miners' interest have proposed a slew of changes in the bidding clauses."All technically qualified bidders should be allowed to bid and not merely the top 50 per cent. This will moderate the initial bidding percentages. It will have more number of participants and bidders and enhance competition resulting in better premium over the reserve price", said R K Sharma, secretary general, Fimi.For better understanding and clarity with regard to geological data, Fimi suggested that the tender document should contain all geological reports of different agencies worked in the area including geological reports and maps. The document should also provide digital ..