The government, which currently holds 29.5 per cent stake in HZL and 49 per cent stake in Balco, is looking at exiting from the two firms in which Anil Agarwal-led Vedanta Group holds majority stake.
Select committees on Mines and Minerals Amendment Bill and Coal Mines Bill recommended their approval without any change
The demand for minerals, boulders and sand is so great that it has fueled a black market and the goons who control this trade do not hesitate to kill law enforcement officers and reporters who have tried to expose them.
The next auction for bauxite blocks in Odisha may see heightened interest with Adani Group charting an entry into alumina refining and existing players looking to boost capacity. Hemant Sharma, principal secretary, Odisha industries department, said that three bauxite blocks have been scheduled for auctions this year. Adani Group - which will be setting up a 4-MMTPA alumina refinery and may enter aluminium production - is expected to bid for mines, though raw material linkages shall be available from Odisha Mining Corporation (OMC).
The mining ministry's inordinate delay in giving approval to group firm Hindustan Zinc to buy London-based Anglo American's zinc mines has forced the company to route it through Sterlite.
'I've never seen such cooperation before. Problem solving. Everyone working together. And truthful.' 'Someone from the prime minister's office was there the entire time, at the table, one of the team.' 'Now you have to figure out how to get them out. And I'm just gonna sit here patiently.' 'But if you annoy me, I could actually ruin the whole game for you and for the people in here, which is the avalanche'.
The Coal Ministry has decided to constitute a six-member panel for valuation and assessment of the 42 running coal blocks which were deallocated by the Supreme Court.
In 11 out of 29 coal mines successfully e-auctioned, a number of qualified bidders in the e-auction stage were from the same company/parent subsidiary company coalition/joint venture, CAG said.
A day after the Union ministry of environment and forest suspended the environmental clearances for all the 93 mining leases in Goa, Chief Minister Manohar Parrikar has said that he will appeal to prime minister to "set things right" in the green ministry headed by Jayanti Natarajan.
The Supreme Court order has created a new legal framework for coal mining by ruling that only the Union government and its entities can do it.
Govt to issue ownership rights of 15 coal mines on Mar 23.
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
The Modi government's e-auction policy for coal, meant to shield the consumer against hike in electricity charges, has already led to serious allegations of cartelisation among the bidding corporates. Matters came to such a pass that the government at one point last week was considering inviting the Central Bureau of Investigation to probe the matter, reports Sheela Bhatt/Rediff.com.
Government will start to auction the rights to up to 70 diamond and gold exploration zones to mining companies this year
Favours stricter impact mitigation rules, monitoring.
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
The new mining policy must be rock solid
In a bid to break the monopoly of public sector over coal, the government proposed to introduce legislative changes allowing for private mining while liberalising norms for allotment of captive blocks permitting trading of coal.
India's industrial production slipped to an 18-month low, contracting by 0.8 per cent in August, mainly due to a decline in output of the manufacturing and mining sectors, according to official data released on Wednesday. The data showed that the previous low in industrial output growth was a contraction of 3.2 per cent in February 2021. Factory output, measured in terms of the Index of Industrial Production (IIP), had expanded by 13 per cent in August 2021. The IIP grew by 2.2 per cent in July this year.
'When there was no crime committed, everything had to be fabricated. They see it as a war, and everything is fair in love and war.'
The mines ministry has put a conditional offer to offload 10 per cent stake in Nalco, saying that the money accrued from such a sale would be invested in the PSU.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
The Environment Ministry was hit by controversies in the year gone by which saw clearances for two big ticket projects -- POSCO and Lavasa -- and exit of Jairam Ramesh as the green minister.
Sourcing bauxite from other states to add Rs 600 crore to cost.
'There is a need for a national task force with a singular objective to increase automotive exports.'
After one stop-work order on the Rs 54,000-crore Posco project, a four-member panel appointed by the Union ministry of environment and forests has dealt a body blow to yet another big-ticket investor in Orissa, the London-based Vedanta Resources Ltd.
These are the 15 seats to watch out for in Rajasthan where assembly elections will be held on November 23. The state has 200 constituencies.
India's industrial production growth decelerated to a four-month low of 2.4 per cent in July, mainly due to poor showing by manufacturing, power and mining sectors, according to official data released on Monday. The data showed that the previous low in industrial output growth was recorded at 2.2 per cent in March this year. IIP grew 6.7 per cent in April, 19.6 per cent in May and 12.7 per cent in June.
CM Stalin has a procedural problem. Nominating new ministers would entail his having to seek formal permission from governor R N Ravi. Stalin does not want to interact with the person of this governor, as far as possible, predicts N Sathiya Moorthy.
The sanction by the Government of India is mandatory for intitiating legal suit against any personnel of the security forces for any action taken by them while discharging their duties under section 197(2) Cr.P.C and Section 6 of the Armed Forces Special Powers Act (AFSPA), the release said.
'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'
The mines ministry has sought Prime Minister Manmohan Singh's intervention in bailing out aluminium giant Nalco of the acute paucity of coal, which has forced the PSU to close down two of its captive power plants.
With this the only minister without a portfolio is Oscar Fernandes
Modi held a "productive meeting" with his Ethiopian counterpart Abiy Ahmed Ali on a day when BRICS (Brazil, Russia, India, China and South Africa) leaders officially endorsed Ethiopia's entry into the bloc.
The right-hand man of Russian President Vladimir Putin, Gerasimov was one of only three, including the President and defence minister, who were in charge of plotting the invasion of Ukraine.
The bill has now been sent to the Mines Ministry for fine tuning and the final draft is to be placed before the group of ministers at its next meeting.
'The idea of aligning with different political parties -- parties that are relevant at a particular period -- is opportunistic and unacceptable.'
Coal industry expert Sunjoy Joshi tells Sheela Bhatt/Rediff.com that the NDA's e-auction of coal blocks will not solve the fundamental problems that dog the industry.
India's industrial production grew in double digit for the second month in a row at 12.3 per cent in June mainly due to strong performance by manufacturing, power and mining sectors, according to official data released on Friday. However, the data showed that the industrial output growth is lower than 19.6 per cent recorded in May this year. It was 6.7 per cent in April.
'These are people whom very few give importance and they were doing a mammoth job for the nation.'
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