Mining

Midwest Advanced Materials bets ₹1,000 crore on rare earth magnets

Hyderabad-based MAM to start 500-tonne annual rare earth magnet output by December and invest ₹1,000 crore in three years to scale capacity and secure raw material

Automobiles to pharma & healthcare: Earnings winter to persist in Q4FY25

Past champions such as banks, oil & gas and automotive seen as laggards

Rahul Gandhi writes to PM, seeks tenders' cancellation for offshore mining

Leader of Opposition in the Lok Sabha Rahul Gandhi has written to Prime Minister Narendra Modi seeking cancellation of tenders permitting offshore mining along the coast of Kerala, Gujarat, and Andaman and Nicobar Islands. Flagging the threat to marine life, the Congress leader said opening up offshore mining blocks to private players without any rigorous assessment of its impact was concerning. "I write to you to strongly condemn the central government's decision to permit offshore mining along the coast of Kerala, Gujarat, and Andaman & Nicobar," he said in his letter to the prime minister. Gandhi said coastal communities have been protesting against the manner in which tenders for offshore mining have been floated without evaluating its environmental impact. Millions of fisherfolk have expressed grave concerns about its impact on their livelihood and way of life, he said. "I wrote to PM Modi to condemn the permission granted for offshore mining in Kerala, Gujarat, and the ...

India to sign MoU with Israel and Saudi Arabia for critical minerals

Minister Reddy announced the deployment of 20 nodal officers in international locations that have the potential for critical minerals

Vedanta declared preferred bidder for diamond block in Madhya Pradesh

It said it is the highest bidder with a final price offer of 1.10 per cent

India Inc to boost capex as Budget drives infra, manufacturing, mining

The Economic Survey released on Friday emphasised that the private sector must take the lead in driving economic growth

Securing critical minerals: India's new mission for future growth

There is, of course, an important national-security element to this effort. Globally, the extraction and processing of critical minerals are dominated by China

Govt to invest nearly $2 billion to develop critical minerals sector

India identified 30 minerals, including lithium, as critical for its energy transition efforts and to meet the growing demand from industries

Assam mining tragedy: Search, rescue operations in Dima Hasao enter day 7

Rescue operations are being carried out by multiple agencies, including NDRF, SDRF, army and navy personnel, with drones deployed for mapping of the area

16 mining labourers abducted in Pak's Khyber Pakhtunkhwa province

At least 16 labourers working on a uranium and plutonium mining site in Pakistan's restive Khyber Pakhtunkhwa province were abducted by unknown armed men on Thursday, sources said. The labourers were abducted from a vehicle en route to the Atomic Energy Mine Project site in Lakki Marwat district. Later, the abductors set the vehicle on fire in the Qabal Khel area. The gunmen shifted the labourers to an undisclosed location. No group claimed responsibility for the abduction. The banned Tehreek-i-Taliban Pakistan (TTP) is active in the area and has been blamed for such abductions in the past. The TTP, set up as an umbrella group of several militant outfits in 2007, is believed to be close to al-Qaeda. The group has been blamed for several deadly attacks across Pakistan. This incident highlights the deteriorating security situation in the region. In July last year, the Khyber Pakhtunkhwa Home Department issued a travel advisory for government officials and employees in the Bannu ...

Govt to sign pact with Mongolia soon in area of geology and exploration

Mongolia is rich in deposits of copper and coking coal, and India is mostly dependent on imports to meet rising demand for the red metal

Uttarakhand's mining revenue doubles to Rs 650 crore in FY 2024-25

The state government has taken steps to make the mining sector transparent and robust using modern technology

Tamil Nadu vows to block Hindustan Zinc tungsten mining in green zone

Assembly resolution urges Centre to not grant any mining licence without the permission of state governments

Cancel tungsten mining in Madurai district, CM Stalin tells PM Modi

Staunchly opposing the Centre's award of tungsten mining rights in Madurai district, Tamil Nadu Chief Minister M K Stalin on Friday urged Prime Minister Narendra Modi to cancel it and asserted that the state government will not allow mining there considering aspects such as a bio-diversity heritage site and people's opposition. A notified bio-diversity heritage site falls under one of the areas proposed for mining, and commercial mining in densely populated villages will definitely affect the people, who fear that their livelihood may be lost forever and hence, the state would never allow mining there, Stalin said, writing to Modi. Against the backdrop of protests by the people against proposed mining, Stalin pointed to the 'grim situation in Madurai district due to the Union government's award of tungsten mining rights,' and requested the immediate intervention of PM Modi to cancel it. The state had already raised its concerns on such auctioning of mining rights of critical and ...

Revenue implication of Rs 4,162 cr as Odisha's iron-ore grade declined: CAG

The Comptroller and Auditor General of India (CAG) which conducted an audit of six iron-ore mines in Odisha has observed that after the auction of the selected mines, there was an "abrupt and abnormal decline in the grade of iron-ore and its classification", as reported by new lessees. "The decline of grade of iron ore has resulted in a revenue implication of approximately Rs 4,162.77 crore for the financial years 2020-21 and 2021-22 in the form of lesser royalty and premium (post auction)", the CAG said in its report No 6 of the year 2024, which was laid before the Odisha Assembly on Wednesday. Though more than 83 per cent production was reported in the grade of 62-65 per cent Fe (iron) in the pre-auction period, the same came down to approximately 16 per cent in the two years after auction (2020-2022), it said. Similarly, the auditor said, the share of grades 60 per cent Fe and below went up from approximately 11 per cent of total production to more than 60 per cent of total ...

Why taxing mining companies retrospectively is a retrogressive step

States would do well to exercise the discretion that the Supreme Court has given them to leaven the impact of a judgment that benefits them immensely

India to open its 1st lithium mines in Chhattisgarh after GSI confirmation

Lithium, one of the 23 proposed exploration projects, is considered crucial for producing lithium-ion batteries used in electric vehicles, which are in increasing demand

Mining operators face setback as SC permits retrospective state levies

The Supreme Court specified that payment for tax demands, which can be retrospectively applied from April 2005, should be staggered in instalments over a 12-year period, beginning from April 1, 2026

Wayanad landslides: Bhupender Yadav says Kerala allowed illegal mining

The minister said that the Union government has already constituted a committee headed by former Director General of Forests Sanjay Kumar to study the eco-sensitive zone

Govt tables Bill in Lok Sabha to delink petroleum operations from mining

Calls for delinking petroleum operations from mining, renewable projects at oilfields