Page 3 - Mines

Coal India to bid for 3 mines in critical minerals auctions in February

The world's largest miner has also visited lithium mines in Australia and is in preliminary talks about operating them, Chairman said

299 mines identified as abandoned, discontinued or closed so far: Govt

The government on Friday said it has identified 299 mines as abandoned, discontinued, or closed so far and Coal India Ltd has taken proactive steps towards the closure of these mines. In addition, an expert committee has been appointed to review the existing mine plan guidelines to strengthen the mine closure framework and to adopt best international practices. "A total of 169 pre-2009 and 130 post-2009 mines, considered abandoned, discontinued, or closed, have been identified. "Of these, 68 pre-2009 mines are marked for final closure, with 63 Final Mine Closure Plans (FMCPs) diligently prepared. Additionally, 14 pre-2009 mines are designated for temporary closure, with comprehensive Temporary Mine Closure Plans (TMCPs) developed for each," the coal ministry said in a statement. Mines closed before 2009 often lacked a structured closure framework, leading to non-scientific closures. Acknowledging the physical hazards and environmental consequences associated with these abandoned .

Potential bidders set to get three chances in offshore mineral auction

The Ministry of Mines, has also restricted the bid security for 'Production Lease' to Rs 10 crore, contrasting with the Rs 50 crore limit for onshore auctions

Critical mineral imports rise as shift towards green energy catches pace

India eyeing self-reliance amid supply risks from China

Best of BS Opinion: After 370, The safe bet of underground mining & more

Here is the best of Business Standard's opinion pieces for today

Govt advances ASP standardisation for critical and strategic minerals

The government on November 29 initiated the process to auction the first tranche of Rs 45,000 crore worth of 20 blocks of critical and strategic minerals

Govt to launch first-ever auction of critical mineral blocks on Wednesday

The lack of availability of these minerals or concentration of their extraction or processing in a few countries may lead to supply chain vulnerabilities

Hindalco Industries Q2FY24 results: Net profit flat at Rs 2,196 crore

The company beat street estimates on revenue but missed it on profit reported in the quarter under review

50,000 sq ft of space freed under special campaign: Mines ministry

The mines ministry on Saturday said 50,000 square feet of space has been freed under a special campaign and a revenue of Rs 1.47 crore has been generated from scrap disposal. The ministry and its subordinate organisations have utilised the Special Campaign 3.0 for disposal of pending matters and emphasized on giving back to nature through creative and innovative ways, the ministry said in a release. "Within the first three weeks of the campaign, the ministry has been ranked amongst the top ten for reviewing old physical files/records. It has achieved 100 per cent in easing of rules, processes, disposal of public grievances, inter-ministerial references and references received from state governments. Besides, 75 per cent of the targeted cleanliness campaigns have already been completed," it said. The mines ministry has set targets for disposal of pending matters and stressed on giving back to nature through creative and innovative ways under the campaign. Bird feeders and water pots

Anil Agarwal's Vedanta Resources readies ground for spinoff to tackle debt

As recently as last month, Anil Agarwal in a message to shareholders indicated plans to explore the creation of independent entities for some or all of Vedanta's businesses

NMET allots Rs 2,100 cr for 309 mineral exploration projects, 151 completed

Union Minister for Coal and Mines Pralhad Joshi highlighted that efforts are also made to speed up the auction process of critical minerals in India

Vedanta pledges to pay $250 mn to Zambia creditors before retaking mine

The plan to pay all creditors is "to make sure I win the hearts of the people," billionaire Agarwal said in an interview at Bloomberg's Johannesburg office. "Money will never be a constraint"

Coal India embarks on overseas acquisition of critical mineral assets

In a bold move to diversify its operations and integrate further into the value chain, Coal India Limited (CIL) is targeting the acquisition of lithium, cobalt, and nickel assets abroad. The company has recently amended its Memorandum of Association (MoA) to include non-ferrous and critical minerals, indicating its commitment to expand its presence in new sectors. In the past, the miner's attempt to acquire coal assets aboard did not fructify. In its pursuit of overseas assets, CIL is currently identifying suitable opportunities for mergers and acquisitions, the management informed its shareholders in its latest annual report. The strategic move reflects the company's vision to secure a steady supply of these critical minerals toward the Atmanirbhar mission of India. In 2022, the Ministry of Mines also created a joint venture company, Khanij Bidesh India Ltd (KABIL), with participating interest from NALCO, Hindustan Copper Ltd and Mineral Exploration Corporation Ltd (MECL). KABIL

Madhya Pradesh puts 51 blocks on auctions including 14 of critical minerals

Madhya Pradesh on Friday issued a tender notice for the auction of 51 mineral blocks, including 14 with critical minerals, according to a release. This is the highest number of mineral blocks notified for the auction in a single tranche by any state, the Mines Ministry said in the release. "Madhya Pradesh has announced the largest number ever of mineral blocks for auction. The state has issued Notice Inviting Tender (NIT) for auction of a record number of 51 mineral blocks on July 14th," it said. The 51 blocks comprise 14 minerals including strategic and critical minerals like graphite and vanadium, platinum group of elements (PGE) and also other major minerals such as manganese, bauxite, limestone, iron ore, base metal and gold. "13 blocks are for mining lease and 38 blocks are for composite licence," it said. While mining lease is given for mines with proven reserves, composite licence for mines where some level of exploration is needed. Madhya Pradesh auctioned 29 blocks in ..

Limestone mine collapse: NGT orders Rs 20 lk compensation to victim's kins

The National Green Tribunal has directed the District Magistrate of Bastar to pay a compensation of Rs 20 lakh to the families of each of the six workers who were killed in a limestone mine collapse in Maalgaon village in Bastar district of Chhattisgarh. The tribunal also ordered the district administration to pay a compensation of Rs 2 lakh to the three injured workers and asked the state to review its vigilance and regulatory regime to prevent such incidents in future. The NGT was hearing a matter where it had initiated suo motu (on its own) proceedings based on a media report about the death of six people, including five women, allegedly due to mine collapse. The incident occurred on December 2 last year in the village, which is under Nagarnar police station, around 12 km from Jagdalpur, the district headquarters. A bench headed by chairperson Justice A K Goel said, "We direct that the District Magistrate, Bastar may disburse a further amount of Rs 16 lakh to the heirs of each o

Centre in talks with states for 'pre-embedded' clearance of mines

In a bid to provide ease of doing business to mining players, the Centre is in talks with five states for "pre-embedded clearances" of 21 mines, including those of iron ore, coal and lignite, mines secretary Vivek Bharadwaj said on Tuesday. The government is also in the process to enact the Offshore Areas Mineral (Development and Regulation) Act, 2002, the senior ministry official said. The government is in talks with five states, including Odisha, Rajasthan and Gujarat, for pre-embedded clearance of 21 mines, Bharadwaj told PTI in response to a question about steps being taken for early operationalisation of auctioned mines. The miners will get pre-embedded clearances for various processes included in mining, like approval of the mining plan, forest clearances, environment clearances and other regulatory clearances, he said. "The move will help in early operationalisation of the mines. It takes 5 years (minimum) to make a mine operational. This will come to one-two months," he sai

Govt exploring possibilities of investing in lithium mines abroad

With requirement for lithium rising manifolds, the Central government is exploring the possibilities of investing in mines abroad, especially in Argentina and Australia

Nearly 70 countries still contaminated by mines, people being killed: UN

Landmines, which can be produced for as little as USD 1, do not distinguish between combatants and civilians. Their use violates international human rights and humanitarian laws

Land mine found near Army post in J-K's Poonch, destroyed, says official

A land mine was found near an Army post and subsequently destroyed in a controlled explosion in Jammu and Kashmir's border district of Poonch Saturday, officials said

Mineral production goes up by 9.7% in Nov 2022: Indian Bureau of Mines

The country's mineral production rose by 9.7 per cent in November as compared to the year-ago period, the mines ministry said on Tuesday