User: anshuman Topic: Mining
Category: Mining
2 new since Aug 28 2014 15:51 IST RSS 2.0
 
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CBI Probe into Mining Scam Can Wait, Says Centre 28.8.2014 The New Indian Express - Odisha - http://newindianexpress.com/states/odisha/
The Minister said he also discussed the issue of SAIL takeover of Neelachal Ispat Nigam Limited
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Post SC verdict, fate of 40 coal blocks in limbo 28.8.2014 deccanherald.com
The Supreme Court order declaring the 218 coal blocks allotted between 1993 and 2010 as illegal has put the future of 40 captive blocks, which are currently under production, in a limbo. "Of the 218 coal blocks allotted, 40 captive coal blocks are currently under production and another 10-12 have signed mining leases with state governments. Power producers have invested Rs 2.87 lakh crore toward exploration. The target production from these mines is 50 million tonnes for 2014-15," an official from Coal Ministry told Deccan Herald. If the Apex Court decides to de-allocate the mines, several big companies, including Hindalco and Jindal Steel and Power, will have to look for alternative sources of coal which may be very expensive, he added. As the court ruling says state govt PSUs cannot undertake commercial coal production, the fate of Singareni Collieries in Telangana also in hangs in balance. The Singareni Collieries, now owned by the Telangana government, has been mining and selling coal since 1886 in ...
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Even under Modi government, it is still environment vs development 28.8.2014 ET: Policy
Mid-sized polluting industries can now operate within 5 km of national parks and sanctuaries — as opposed to the 10 km limit imposed by the Supreme Court.
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Equity markets hit record high 28.8.2014 Asian Age: Business
The equity markets climbed higher and closed at a record high on Wednesday on growing expectation that the European Central Bank (ECB) would be announcing further stimulus measures in its forthcoming policy meeting. This means more funds would flow into emerging market equities with India remaining one of the most attractive investment destinations for global portfolio investors. After opening the day on a strong note, the Nifty gained 31.30 points or 0.40 per cent to end the day at 7,936.05, just 64 points away from its psychological barrier of 8,000 level marks. The Sensex surged 117.34 points or 0.44 per cent to end the day at a new high of 26,560.15. According to the provisional data released by the stock exchanges, foreign portfolio investors purchased shares worth Rs.290.18 crore. “There is a strong possibility of Nifty hitting the 8,000 level mark on Thursday as traders roll over their August derivative positions. Traders had created huge short positions in metal and mining sector stocks after the ...
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Modi ignores RSS on Ghats 28.8.2014 Telegraph: Nation
Thiruvananthapuram, Aug. 27: The Narendra Modi government has ignored concerns raised by the RSS as well as the Kerala unit of the BJP and said it is not considering the recommendations of the Madhav Gadgil Committee for protection of the eco-sensitive Western Ghats.
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Plea for NGT intervention 28.8.2014 The Telegraph : North East
Shillong, Aug. 27: The degradation of the environment allegedly by cement companies will soon reach the National Green Tribunal (NGT) if the Meghalaya government fails to take action against such errant companies.
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India Inc seeks coal clarity 28.8.2014 Telegraph: Business
New Delhi, Aug. 27: India Inc today said the Supreme Court's ruling on coal block allocation would help to weed out defaulting companies but would be a huge setback for the mining sector as a whole. Many companies will remain in the dark over why their leases are illegal, especially if "the reason behind the move is wrong translation of policy".
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Government junks Madhav Gadgil report on Western Ghats 27.8.2014 DNA: Urban Tales
The union ministry of environment and forests (MoEF) has finally buckled under pressure from state governments who had vociferously opposed the Madhav Gadgil report on Western Ghats. The ministry on Wednesday informed the National Green Tribunal (NGT) that it is not processing the Madhav Gadgil report on Western Ghats any further and that it is instead examining and processing the report of the high-level working group (HLWG) headed by Dr K Kasturirangan. Interestingly, Madhav Gadgil himself in an open letter last year slammed K Kasturirangan for diluting his report with a subsequent report. The environment ministry move simply means that a huge area of the ecologically sensitive Westeerrn Ghats area, which runs across several states including Maharashtra, would be open to activities like dams, mining, power plants and irrigation projects. Why was Dr K Kasturirangan report preferred? The basic reason behind Kasturirangan panel being preferred is that his report dilutes the Western Ghat report of Madhav ...
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An Indian PSU success story 27.8.2014 DNA: Recent Columns
The Indian PSU consortium International Coal Ventures Pvt Ltd’s (ICVL) agreement with Rio Tinto to acquire the latter’s coal assets in Mozambique for $50 million is a significant development. ICVL claims that production from the mines acquired will triple in three years to 13 million tonnes after a $300 million investment.  Sixty per cent of this increased output would be shipped to India in a cost-effective manner using a ‘secret’ recipe. ICVL was set up in 2009 by the Indian steel ministry to secure metallurgical/coking coal and thermal coal assets abroad. A consortium of five PSUs – SAIL, RINL, Coal India, NMDC and NTPC -- this is ICVL’s first successful acquisition of an asset abroad since inception. ICVL’s assets are in  Mozambique’s Moatize basin and contain both prime coking coal and thermal coal. Moatize is deemed the most prolific coal basin globally after  Australia’s  Bowen Basin. Prima facie, this is a good acquisition. ICVL gets 65 per cent in the Benga mine – Tata Steel owns the remaining ...
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Supreme Court ruling on coal blocks raises questions over mining joint ventures 27.8.2014 HBL: Home
Captive miner EMTA defends the model
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With no Plan-B, players in coal sector fear ‘dark times’ 27.8.2014 HBL: Home
The worst-hit will be JSPL and its subsidiary, with nearly ₹50,000 cr investments at stake
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Banks fret as coal ruling puts Rs 1 Lcr loans at risk 27.8.2014 Hindustan Times: Business
Power developers and lenders are worried as investments over Rs 15 lakh crore are at risk With a 7030 debtequity ratio for these projects lenders have an exposure of close to Rs 1 lakh crore in these ...
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Government Junks Green Report on Western Ghats That Sought Ban on Mining 27.8.2014 NDTV
The government today junked the report on Western Ghats by environmentalist Madhav Gadgil and said it instead prefers the Kasturirangan Committee's ...
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Government Junks Gadgil Report on Western Ghats 27.8.2014 newindianexpress.com
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Centre considering Posco mining project favourably: Minister 27.8.2014 All News-IANS Stories
Union Mines and Steel Minister Narendra Singh Tomar Wednesday said the central government is considering the mining project of South Korean steel major Posco in Odisha with positivity.
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Hand over coal blocks to Coal India: Hansraj Ahir 27.8.2014 HBL: Home
Govt should promote Coal India, says BJP MP
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Centre asks Odisha to review Posco PL case 27.8.2014 All Specials Stories
State agrees in-principle to provision of auction for bulk minerals
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Oil and natural gas sector records high growth 27.8.2014 All Specials Stories
Petrol consumption grew 14% in June, the second-highest since May 2013
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Centre to act on applications for mining in notified areas 27.8.2014 FirstPost: India

Union Steel and Mines Minister Narendra Singh Tomar on Wednesday said the Centre would act only on applications for mining in notified areas pending amendment to MMDR Act, in view of Shah Commission's recommendations.

The post Centre to act on applications for mining in notified areas appeared first on Firstpost.

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Kasturirangan report to be basis for eco-sensitive areas in Western Ghats 27.8.2014 News
Govt tells green tribunal that it won't pursue the Madhav Gadgil expert panel report on the ghats
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