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 […]
India expects to invest $ 54.5 billion in clean coal projects over the next decade as it seeks to tap domestic energy sources and curb imports, home minister Amit Shah said at a signing ceremony to develop new mines. The investment will be made in clean coal facilities, including coal gasification and coal-bed methane, Shah […]
The Cabinet is likely to consider and approve the mining sector reform proposals, announced in May last year by finance minister Nirmala Sitharaman as part of the Atmanirbhar package. Sitharaman had announced a series of reform proposals for the mining sector. The reforms proposed to offer a comprehensive license as opposed to separate licenses for […]
State-run aluminium maker Nalco will invest around Rs 30,000 crore by financial year 2027-28 on various expansion and diversification plans. Of this proposed investment, the company will spend over Rs 7,000 crore on a fifth refinery, development of Pottangi bauxite mines and transportation and Utkal D&E coal mines. The remaining Rs 22,000 crore will be […]
Global zinc mine output will recover in the coming years following several years of decline, Fitch Solutions forecasts in its latest industry report, adding that after contracting by almost 10% between 2013 and 2020, annual output will commence a multi-year uptrend starting in 2021. High prices by historical standards have encouraged investment into a pipeline of new […]
India’s metals and minerals industry on Friday urged for an easing of production of iron-ore in the country to stem soaring prices of the steel-making material as well as of steel. Prices of iron-ore lumps supplied by state-run NMDC, the country’s largest miner, have increased by 112% in the last six months alone due to a […]
The coal ministry has again invited bids for four coal blocks whose tender process was annulled in the first round of auction for commercial mining, as the number of technically qualified bidder for each mine was just one. Of the four coal blocks, three are in Odisha and one is in Jharkhand. “The nominated authority […]
License to operate (LTO) remains, for the third consecutive year, as the number one issue for miners, according to a survey by Ernst & Young with over 250 executives, while shifting the balance of power among the world’s largest economies has created a new geopolitical risk. The annual EY Top 10 business risks and opportunities — 2021 shows 63% of […]
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. […]
State-owned manganese ore mining firm MOIL Ltd is working on multiple new projects worth cumulatively Rs 581 crore at its mines in Madhya Pradesh and Maharashtra, according to its annual report. The company is aiming to complete these projects by August 2021, the miner said in its Annual Report 2019-20. Manganese is used to make steel which […]
