Pandemic takes a toll on non-coal mining leases; six in 2020-21 against 43 in 2019-20

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During the current fiscal, 2020-21, very few non-coal mining leases were allotted. Compared with 43 blocks successfully auctioned in 2019-20, only six leases could be auctioned out so far in the current fiscal, data from the ministry of mines showed. Since the time mining allocation was made mandatory through the auction route in 2015, a […]

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Nine iron ore and manganese blocks in Odisha likely to be auctioned in July

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After the successful online auctions of 24 merchant mining blocks, the Odisha government is bracing for auctioning nine virgin mineral blocks. The state government is likely to issue Notice Inviting Tenders (NITs) in respect of the nine iron ore and manganese blocks in July this year. The blocks identified are Purheibahal, Chandiposhi, Rengalaberha North-East, Gandhalpada, […]

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Low auto demand in India subdues ferrous metals industry prospects in FY21

After recovering in last quarter (Q4) of fiscal 2019-20, (FY20), the ferrous metals segment is headed for a subdued start in FY21. Analysts believe that strict quarantine measures to enforce lockdown will lead to demand erosion even though the supply side is facing relatively lower disruptions. There are apprehensions that if the nationwide lockdown to […]

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ArcelorMittal Nippon Steel participating in Odisha iron ore mine auctions

To securitise its iron ore requirements, ArcelorMittal Nippon Steel (AMNS) is participating in the ongoing auctions of iron ore mines in Odisha, PTI reports. ArcelorMittal Nippon Steel India (AMNS India) is a 60:40 joint venture between L N Mittal-owned ArcelorMittal and Japan-based Nippon Steel Corporation. “We are participating in ongoing auctions of mines in Odisha,” […]

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Manganese and chromite mines in India facing closure and job loss

With seven manganese and four chromite non-captive mines on their way to shut down by March 2020, the mining industry is staring at a sizeable job loss since the ratio of direct and indirect employment is 1:10. This is just the beginning since mining leases of total 329 mines of private mining companies, including 48 operative and 281 non-operative mines spread […]

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Odisha govt invites bids for 10 iron ore and manganese blocks

The Odisha government has invited financial and technical bids to grant mining leases (ML) for 10 iron ore and manganese blocks, reports Business Standard. The central government had recently approved the revision in mining lease area limits for iron ore and associated minerals in Odisha to 58 square kilometres (sq km), up from 10 sq km prescribed in Section 6 (1) […]

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India’s Odisha state to send Rs.27,000 crore demand notices to non-ferrous mining leaseholders for over extraction

After iron and manganese ore mines which have already been penalised by the state government of Odisha, non-ferrous mine leaseholders might face the wrath of the state government. The government is said to have fixed a penalty of Rs 27,000 crore for non-ferrous mine leaseholders in Odisha for extracting ore “beyond the approved limits”. The Odisha […]

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