Page 5 - Mines

Govt plans to auction 17 non-operational mines surrendered by PSUs: Joshi

The government plans to put on auction 17 mines surrendered by public sector undertakings which could not put the blocks into operation, Coal and Mines Minister Pralhad Joshi said on Tuesday. The statement comes in the wake of the government making efforts to ramp up domestic coal production to ensure adequate availability of dry fuel to different sectors. "Just the-day-before yesterday (Sunday) I got 17 blocks back and they are very good blocks and I am putting them for auction now," Joshi said. Speaking during a conference on the Indian minerals and metals industry organised by NMDC and FICCI, the minister said many PSUs in the country in sectors like coal were sitting on big mines. The government decided to take away all those mines from the public sector undertakings which do not get into operation even after the lapse of five to six years and put them on sale. "I talked to the chief ministers and ministers of a few states and asked them the reasons for sitting on mines. These

Naveen Jindal group weighs aluminium foray, plans depend on mine

Company sees consumption rising as electric vehicles increase and light metals become more important

NMDC's steel plant sale may fetch enterprise valuation of up to $4 bn

Lenders, shareholders meeting to demerge steel company on Tuesday

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.

Surat diamond industry pins hope on new mines amid staggered work

With some mines in Botswana being put to work, rough diamond trade could ease by 10% amid US sanctions on Russia's Alrosa which commands 27% global supply

Arbitration hearing set for January in Vedanta-Zambia copper mine dispute

Zambia's government accused Vedanta at the time of failing to honour licence conditions, including promised investment - accusations that Vedanta has denied.

India, Australia hold first Joint Working Group meet on coal, mines

Avenues for B2B collaboration on coal technology, transfer of technology, cooperation on skill development and training, issues related to coking coal import from Australia were discussed

With Taliban in power, China eyes lucrative rare-earth mines in Afghanistan

China appears to be eyeing to clinch lucrative projects to exploit mineral-rich Afghanistan as it calibrated its policy to recognise the Taliban government

Union at BHP's Escondida mine in Chile rejects contract, firm seeks talks

The talks, once confirmed by authorities, will last for 5 to 10 days, according to Chilean labor law. If no agreement is reached, a strike would begin

Govt plans incentive for starting production early from auctioned mines

The mines ministry plans to do the same through amendment of the mining rules and has sought comments and suggestions from stakeholders on the same.

Restarting stalled mines can help achieve $5 trn economy target: Agarwal

Metals and mining magnate Anil Agarwal on Tuesday said around 500 mines in the country are currently not operational due to various disputes

Repealing certain MMDR Act sections to send wrong signal to investors: FIMI

The repealing of certain sections of the MMDR Act amounting to cancellation of mining leases already granted would send a wrong signal to both domestic and global investors, said FIMI

K'taka govt holding extension of Donimalai mine lease unreasonable: NMDC

The Donimalai mine was mired in controversy over renewal resulting in the cancellation of lease last year

11-member panel to examine issues on royalty rates for major minerals

The members of the panel includes mines secretaries from the states like Telangana, Chhattisgarh, Jharkhand, Karnataka, Madhya Pradesh and Odisha

Ferro-alloy industry stares at sizeable job loss as mines shut down

Demand-supply mismatch could further affect domestic steel production

Steel sector may face disruption in iron ore supplies with 232 mines expiry

With the leases of 232 merchant iron ore mines expiring in March next year, the country may face a short-term disruption in supply of the main ingredient used in making steel, Acuite Ratings & Research Ltd said today. "The expiring leases can potentially curtail about 25-30 per cent of the country's iron ore production, taking into account the expiring leases of other states as well," Acuite Ratings & Research Ltd said in its latest report. Iron ore is the main ingredient used in making steel. Consequently, any significant delay with respect to auctions and more specifically lease transfers will affect iron ore supply and prices, thereby putting further pressure on sector profitability. Non-integrated steel companies, which do not have access to captive iron ore mines, will be relatively more vulnerable in the event of such delay. Therefore, a smooth transition in the lease transfers through the upcoming auction process along with the expected increase in pellet availability ..

More than 260,000 people in danger of losing jobs over lapsing mines

The validity of 329 mining leases will cease by March 31, causing job losses for 264,000

Karnataka's Dept of Mines & Geology defers e-auction of Donimalai mine

Move follows an order by the Mines Tribunal staying the Karnataka govt's decision tp cancel the Donimalai mining lease to NMDC

Centre may extend approvals for lapsing mining leases

The step, if implemented, will ensure hassle-free auctions of the mines besides facilitating seamless change in ownership

Speed up plan to develop mines in districts, says Parliamentary panel

The DMF has been created in each district under the provisions of Mines and Minerals Amendment Act, 2015 and falls under the purview of the Ministry of Mines