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 […]
Coal India Ltd, the world’s biggest miner, has temporarily stopped supplies to non-power users, a company official said, as India battles one of its worst power supply deficits in years. “It is a temporary prioritisation of supplies to power plants till stabilisation in stocks is restored,” the source, familiar with Coal India’s plan said. Coal […]
The government has amended rules with a view to allow 50 per cent sale of coal from captive mines. The move is likely to benefit over 100 captive coal and lignite blocks with over 500 million tonnes per annum peak rated capacity as well as all coal and lignite bearing states. “The Ministry of Coal […]
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 […]
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 […]
The Centre has plans to permit sale of 50 per cent of coal/lignite produced by captive blocks, a move aimed at augmenting the production and increasing the availability of dry fuel. The government plans to do so through incorporation of a provision in the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR). “In the […]
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 […]
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. […]
Odisha-based steel firms, which do not have captive mines, have asked the government to make it mandatory for all iron ore miners in the state to sell at least half of their produce to Odisha-based sponge iron and steel units unless they consume 50 per cent for their own captive use, reports Financial Express. Only […]
After a tough fourth quarter of last fiscal, wherein NMDC had to take a Rs 795-crore Vivad Se Vishwas settlement payout, the iron ore mining major is facing new challenges, including in Chhattisgarh and with regard to Donimalai mines in Karnataka. The first quarter of the current financial year, due to Covid-induced lockdown, and the […]
