Pandemic affected Coal India revenue by Rs 6,054 crore; Coal Production from captive mines likely to hit 120 million tonnes by next fiscal

The negative impact of COVID-19 on the revenue of Coal India Limited is of Rs 6,054.33 crore and on Singareni Collieries Company Ltd (SCCL) is of Rs 5,921 crore, Parliament was informed. “Coal production was impacted due to COVID-19,” Coal Minister Pralhad Joshi said in a reply to the Lok Sabha. To support the industry, measures like […]

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Captive mines can now sell half their minerals in open market; govt removes end-use curbs to lure investments

The mines ministry has amended the mineral auction rules to remove end-use restrictions for mines to be allocated in future through the competitive bidding route, a move that is expected to enhance production and attract private investments into the sector. “The state government shall not reserve any mine for captive purpose or any specific end […]

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JSW Steel pays Rs 19,350 crore to acquire Bhushan Power & Steel; eyes Neelanchal Ispat now

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After completing the acquisition of Bhushan Power & Steel under the insolvency law, Sajjan Jindal-controlled JSW Steel, has thrown its hat in the ring for Neelanchal Ispat Nigam Ltd (NINL). The company has submitted an expression of interest (EOI) for NINL. The due date for EOI submission was March 29.   JSW Steel has paid a total […]

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Indian cabinet approves auctioning of legacy issues non-coal mineral blocks

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The Indian cabinet has approved a proposal to amend the relevant law for auctioning partially or minimally explored mines under current leases, but entangled in legacy issues and litigation through competitive bidding. Over 500 non-coal mineral blocks will be up for grabs now. Further, the employment-intensive, but highly under-invested sector, will get a fillip from […]

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Suggestions on proposed mining reforms in India do not call for legalizing illegal mines

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The government of India has clarified that there is no proposal to certify illegal mining as legal, after receiving a large number of suggestions on the proposed mining reforms. The mines ministry had recently sought suggestions from the general public, mining industry and other stakeholders on the proposed reforms in the Mines and Minerals (Development and Regulation) Act, 1957. […]

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