State-owned mining giant, Coal India, is hoping to recover around 75-80 per cent of its liabilities from customers with whom it has long-term fuel supply agreements (FSAs) after the Supreme Court (SC) allowed states to recover dues retrospectively. A legal recourse, however, is underway. "We are impacted in two states - Jharkhand and Odisha.
'The biggest impact will be on coal and hence on power cost. Then comes iron ore, coking coal, bauxite.'
Faced with one setback after another in expanding the scope of mining in the country, almost all the major miners of the world have wound down their operations in India.
In a bid to attract smaller players to the country's first offshore mineral mining auction, the government is considering easing the regulations related to performance security and upfront payment. The proposed plan involves a cap of Rs 100 crore each for performance security and upfront payment for a production lease (PL). A holder of a composite licence (CL) would only need to pay Rs 50 crore as performance security.
India has upgraded its technical mission in Kabul to an embassy, with External Affairs Minister S Jaishankar acknowledging the Taliban's consideration of India's security concerns. The announcement was made during talks with Afghan Foreign Minister Amir Khan Muttaqi, marking a significant step in advancing ties between the two nations.
The Central Bureau of Investigation filed its first information report (FIR) against former Karnataka Chief Minister B S Yeddyurappa on Tuesday in the illegal mining case.
Tata Steel is in the process of filing a curative petition in the Supreme Court in connection with the apex court ruling which said that states have the power to levy cess on mining and mineral-use activities. The petition by the steel manufacturing firm is aimed at seeking remedy to the order, passed by a 9-judge Constitution Bench of the Supreme Court on July 25. However, Tata Steel's managing director and chief executive officer T V Narendran told Business Standard that there was no demand note on the firm.
A total of 86 metres have to be drilled vertically to prepare an escape passage. Pipes of 1.2 metres in diameter have to be laid vertically through the top of the tunnel on which work began on Sunday as a second option to reach the stranded labourers.
ED officials said that Subhash was produced before a special PMLA court on Sunday morning and was sent to judicial custody.
Trump's method are more destabilising than his policy. So, a good idea these couple of years is to sip Kool-Aid, and savour the joys of Trumplomacy, asserts Shekhar Gupta.
A new law has been put together to actually take control of the mining sector away from the government, specially the Union government, and make regulation by an independent authority the basis of mineral development in India.
The ED, which is probing 'illegal' sand mining under the Prevention of Money Laundering Act apprised the court that it is in possession of credible scientific evidence.
Tata Steel has built an iron ore chest of nearly 600 million tonnes (mt) and will look for more as it prepares for life beyond 2030 when its legacy captive mines come up for auction. The lease for four of its existing iron ore mines -- Joda East, Noamundi, Katamati, and Khondbond -- that feed the domestic operation with low-cost iron ore is going to expire in 2030, following changes in mining regulations. The year will also coincide with Tata Steel's ambitious target of doubling steelmaking capacity in India to 40 mt, increasing the need for iron ore. The company is pushing the pedal to ensure that it has enough resources to meet enhanced needs.
Nine mineral-rich states -- Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Odisha, Tamil Nadu and Telangana -- are readying 75 blocks for auction.
Under current laws, a company cannot sell mines but only transfer leases when it is acquired by another firm.
Centre plans to acquire land and then give it on lease to miners.
A 24-year-old man was killed and his father, a Right to Information activist, was grievously injured after a man accused of illegal sand mining allegedly rammed their scooter with his SUV in Gujarat's Kutch district.
Lignite contributes large part of total royalty income in the state. Lignite production in Gujarat is estimated to be decline by 10 lakh tonnes this year on account of closure of Panandhro mines, according to government sources. Last year, the lignite production in the state stood at 99 lakhs (9.9 million) tonnes resulting into a royalty income of appoximately Rs 50 crore (Rs 500 million).
The changes were made to several regulations in a coordinated manner by the environment ministry, the tribal affairs ministry and the mines ministry over a year.
'On November 8, two women activists were assaulted and left for dead because they were following the illegal mining trail. This is how bad the coal mafia is in Meghalaya.' 'Most politicians own coal mines, some policemen own coal mines and some in the administration own them.' 'So what you have is a nice cocktail and everybody is protecting each other.'
A bill to auction coal mines is also likely to be passed later.
The shift to gross calorific value-based grading of coal aligned domestic prices with international benchmarks.
Soren emphasised that Jharkhand would adhere only to the Chotanagpur Tenancy and Santhal Pargana Tenancy Acts to protect tribal culture, land, and rights.
Channi's nephew Bhupinder Singh alias Honey was arrested in this case by the agency.
A sweeping set of reforms proposed for the country's mining sector have led to a faceoff between the Union law and mines ministries.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
US President Donald Trump has 'America First' as his priorities and this includes making America safe again, making the country affordable, achieving energy dominance, draining the swamp and bringing back American values, the White House said on Monday.
Amid UPA Chief Sonia Gandhi voicing concern over land acquisition norms, a Group of Ministers (GoM) will meet this week to take a view on the new mining bill, which seeks that miners share 26 per cent of profits with those affected by the project.
In order to keep the interest of new and small players intact, the coal ministry is offering only small- and medium-sized coal mines in the second round.
Coal accounts for more than 60 per cent of India's electricity capacity, and the government plans to nearly double annual coal output by 2020, opening a new mine nearly every month
Inefficient concession grant process, including delays and inefficiencies in concession system, forest and other clearances also contribute to illegal mining.
The new mining policy must be rock solid
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.
The apex court had said in previous judgments that only fresh leases were to be granted by the Goa government, not second renewals.
A substantial deposit of petroleum and natural gas has been discovered in Pakistan's territorial waters, a cache so large its exploitation could change the country's destiny, according to a media report. A three-year survey was undertaken in collaboration with a friendly country to verify the presence of the oil and gas reserves, DawnNewsTV quoted a senior security official as saying on Friday.
Operations at 26 mines are set to commence again within a couple of months.
The coal-bearing states shall be getting additional revenue from such coal mines.
Jharkhand mining secretary Pooja Singhal, earlier arrested and remanded to the custody of the ED in a suspected money laundering case, was suspended by the Jharkhand government on Thursday, an official said.
Six bills, including the one to amend the Jammu and Kashmir Reorganisation Act, were introduced in the Lok Sabha on Wednesday amid protests by opposition members over the violence in Manipur.
