Page 3 - Mines

Union Budget 2024: India scraps customs duty on 25 critical minerals

The finance minister added, "I propose to fully exempt customs duties on 25 critical minerals and reduce BCD on two of them"

J&K lithium block fails to secure bids in 2nd attempt as well: Report

The government in February 2023 found its first lithium deposits in Jammu and Kashmir with estimated reserves of 5.9 million metric tons.

Breaking the minerals monopoly

India can draw inspiration from Indonesia's success in nickel to lead globally in critical minerals

Union min G Kishan Reddy holds 1st review meeting of coal, mines ministries

Union Minister G Kishan Reddy has reviewed both the coal and mines ministries after taking charge. "Held a detailed review meeting of the Ministry of Mines ( @MinesMinIndia) in New Delhi," he said on Friday in a post on X (formerly known as twitter). Reddy on Thursday took charge as coal and mines minister and said that India should increase domestic production of the fossil-fuel and reduce coal imports. The minister of state for coal and mines Satish Chandra Dubey and other officials of the mines ministry were also present during the meeting. In another post, the minister said, "Chaired 1st review meeting of the Ministry of Coal after taking charge in New Delhi." Reddy on Thursday told reporters that India should increase domestic coal production and reduce import of fossil fuel. India's coal import rose by 7.7 per cent to 268.24 million tonnes (MT) in FY '24. Reddy further said 10 years ago there was a coal shortage in the country and due to this there was also a shortage of ..

India looks at Russia to secure rare mineral mining tech, partnership

Collaboration part of broader strategy to attract investment, foster cooperation in mineral exploration

Dependency on minerals import risks India's green tech progress: ICRA

According to the report, there has been a gradual shift in global energy policy priorities from fuel and energy security to mineral security

Mines ministry asks Coal India, NMDC to look for lithium mines overseas

Ministry will lead a delegation to Zambia in June and later to Congo to explore joint ventures in critical minerals

All 15 workers rescued from copper mine in Rajasthan, 1 feared dead

Fourteen officials and members of a vigilance team of PSU Hindustan Copper Limited were trapped in a mine in Rajasthan's Neem ka Thana district on Tuesday night when a vertical shaft used for transportation of personnel collapsed, police said. Praveen Nayak, Superintendent of Police of Neem ka Thana district, said that a rescue team has reached the trapped personnel and some of them could be injured. Efforts are on to bring out the personnel who are stuck at a depth of several hundred metres at the Kolihan mine, the police said. According to preliminary information, the incident occurred when the vigilance team along with senior officials of the state-owned company went inside the mine for an inspection. When they were about to come up, a rope of the shaft or 'cage' broke due to which around 14 people were stuck, the police said. Khetri MLA Dharmpal Gurjar reached the site and took stock of the situation. Neem ka Thana district is around 108 km from state capital Jaipur.

India to become leader in offshore mining as govt amends legislation

India will become the leader in offshore mining as not many countries have done much in this area, a government official said on Tuesday. Offshore mining is the process of retrieving mineral deposits from the deep seabed, at a depth of more than 200 metres. Speaking at the Critical Minerals Summit here, Joint Secretary in Ministry of Mines, Veena Kumari D said the government has amended the offshore mining legislation. "We have done amendment to the Act for offshore mining and we are working on the rules for that and India will be the leader in offshore mining because not many countries have done much of offshore mining and we were working on it since August 2023," she added. Mines Secretary V L Kantha Rao in his address on Monday had said that the auction of offshore mines will begin in three months' time. The Offshore Areas Mineral (Development and Regulation) Act, 2002 has been amended to provide an auction route for awarding production leases for offshore minerals. "Currentl

EC's prior nod must for Goa mines dept to execute lease deed: Officials

Goa poll authorities have said it was binding on the state mines department to obtain prior permission of the Election Commission of India (ECI) to execute a lease deed during the period of the model code of conduct (MCC). State Additional Chief Electoral Officer Sunil Masurkar said this in a letter written to the ECI on Wednesday after an NGO complained that the Goa government and Vedanta Limited signed a lease deed on March 22 for the commencement of mining operations. This amounted to violation of the MCC, the Goa Foundation (NGO) claimed. The MCC came into effect on March 16 with the announcement of the Lok Sabha polls. Masurkar on Wednesday wrote to the ECI's principal secretary, claiming the reply filed by the state Directorate of Mines and Geology is "not satisfactory." "The reply filed by the Directorate of Mines and Geology is examined by this office and the same is found not satisfactory," the letter said. "It is observed that the mining lease deed executed by the Depar

Rajasthan's mines department plans to increase revenue during FY25

To implement the strategy, Mines Secretary Anandi recently met the director, Bhagwati Prasad Kalal, and all field officers of the mines and geology department virtually

India's critical and strategic mineral auctions face three-month delay

Final date to select the preferred bidders for remaining seven mineral blocks has been deferred to July 8

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