Page 24 - Mining Industry
Govt examining provision to bar non-serious players from mining auctions
Union minister Pralhad Joshi on Wednesday said the Centre is contemplating stringent provision in the Mining Act so that non-serious players are terminated and barred from the auction of mines in the future. While addressing the 15th edition of Global Mining Summit and International Mining & Machinery Exhibition, coal and mines minister Joshi said that recently Odisha has completed the successful auction of large number of iron ore mines. However, some of the successful bidders are trying to evade the process of auctions by delaying the production, he informed. "Such cases will be dealt seriously, and in coordination with the state government, we are contemplating to bring stringent provision in the Act so that non-serious players are terminated and barred from future auctions," the minister said. He said that March was a significant month during which leases of large number of working mines expired and they had to be auctioned immediately. The government took a proactive and ...
 "Govt examining provision to bar non-serious players from mining auctions")
Domestic mining-construction equipment biz recovers 22% YoY in Q3CY20: Icra
Though growth is still lower than Q3 CY2018 levels by 14%, it is significant considering the deep demand contraction of 40% in H1CY20, the rating agency says
 "Domestic mining-construction equipment biz recovers 22% YoY in Q3CY20: Icra")
Vedanta Zinc suspends mining at South Africa's Gamsberg mine after accident
Eight of the workers were rescued after the accident on Tuesday
 "Vedanta Zinc suspends mining at South Africa's Gamsberg mine after accident")
L&T bags biggest order ever for construction & mining equipment biz
To supply 46 units of Komatsu Mining Equipment to Tata Steel
L&T bags biggest order ever for construction & mining equipment biz
To supply 46 units of Komatsu Mining Equipment to Tata Steel
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Tata Steel Mining commence operations at two of its Odisha chromite mines
The commissioning of these 'Twin' mines follows the start of operations at Sukinda mine
 "Tata Steel Mining commence operations at two of its Odisha chromite mines")
Industry divided on mineral auctioning; mines' development still a concern
The state exchequer is estimated to earn a total revenue of Rs 8 trillion from the auctioned mineral blocks over the lease period, including an estimated contribution of Rs 6 trillion through auction
 "Industry divided on mineral auctioning; mines' development still a concern")
Mining: Major investors anticipate potential in liberalised rules
Mining companies say the plans to introduce an exploration-cum-production regime that the finance minister announced in May for 500 mineral blocks has not come a moment too soon
 "Mining: Major investors anticipate potential in liberalised rules")
How the SC order on use of natural resources could muffle investments
If a resource has become useful only because someone has improved it through an investment, there should be no reason not to let that addition be counted and the valuation determined accordingly
Digital mining to be source of transformational change, says FIMI
Miners' body FIMI on Thursday said digitalisation is challenging traditional industry lines and business models and there is a need for adoption of technology and digital mining in India
To come out with industry-friendly reforms in mining soon: Pralhad Joshi
The minister also invited investors, explorers and miners to come and explore the huge opportunities that the Indian mining sector offers
 "To come out with industry-friendly reforms in mining soon: Pralhad Joshi")
CII asks Centre to look into additional tax being charged on minerals
CII cited the provisions of the Mines and Minerals (Development and Regulations)Act under which the mining leases in India for both coal and non-coal are granted and governed
 "CII asks Centre to look into additional tax being charged on minerals")
Situation remains uncertain as some states still under lockdown: Coal India
The state-owned miner produced 18.05 million tonnes (MT) of coal from July 1 to July 16 against 19.61 MT produced in the same period last year.
 "Situation remains uncertain as some states still under lockdown: Coal India")
FDI norms to be eased further, other economic reforms in pipeline: Goyal
The minister said that new industrial policy and forest policy would be brought out soon, along with further forms in the mining sector
 "FDI norms to be eased further, other economic reforms in pipeline: Goyal")
Coal India arm terms workers strike illegal, to deduct 8-days of wages
Coal workers affiliated to five trade unions had gone on strike from July 2-4.
Chinese miners deals seen stalling over Canada, Australian regulations
Canada and Australia have recently tightened restrictions on investment by state-backed firms, fearing economic dislocation caused by the pandemic will make it easier to buy strategic asset
 "Chinese miners deals seen stalling over Canada, Australian regulations")
Coal India unions on 3-day strike to protest against commercial mining, FDI
The workers are protesting against commercial mining and the FDI in the coal sector which was implemented last year by the central government
 "Coal India unions on 3-day strike to protest against commercial mining, FDI")
Countries burning fossil fuel can't give sermons on climate change: Joshi
Pralhad Joshi says he will replace mines from the auction if chief ministers object but they should understand this will change the economic situation in states.
Tata Steel slips into red, logs Q4 consolidated pre-tax loss at Rs 1,499 cr
The company had a profit of Rs 4,252.50 crore in the corresponding period last year
 "Tata Steel slips into red, logs Q4 consolidated pre-tax loss at Rs 1,499 cr")
Tenders for nine iron ore and manganese blocks in Odisha likely in July
Timing of auctions critical, premiums unlikely to match merchant mines
 "Tenders for nine iron ore and manganese blocks in Odisha likely in July")