The iron ore dynamics in India have reversed in the last one year. From a huge surplus until last year, the country has slipped into deficit, thanks to a stern action taken by the government to nab illegal miners.
1%) The government today asked coal companies, including major producer Coal India (CIL), to step up supply to power stations facing shortage of the dry fuel to ensure that the power generation remains uninterrupted. The development follows an emergenc...
-4.98%) Maharatna Coal India today said its profitability would be eroded by about Rs 2,000 crore per annum post enactment of new mines legislation which mandates coal miners to share 26% of their profits with project affected people. "It [new mines
The days are numbered for iron ore mining companies involved in illegal transactions in Karnataka. Some of the mining companies that are already suffering heavy losses with the stoppage of exports for over 14-odd months and regular mining in the last two
-4.98%) Coal India today said it might invest up to Rs 40,000 crore in the 12th Plan Period ending 2017 towards mines' development to augment production. "We will spend anything between Rs 35,000-40,000 crore in the 12th Plan Period for development of
The new Mines Bill, which provides for sharing of profits and royalty with project-affected people, is likely to be introduced in the winter session of Parliament, a senior official said. The Bill, earlier supposed to be tabled during the just concluded
The Planning Commission has estimated the country's coal demand to go up to 1,000 million tonne (MT) by the end of the 12th Plan period (2012-2017), necessitating over 200 MT imports. "... The domestic output is unlikely to exceed 750 MT leaving more
India's competition watchdog CCI has cleared state-run Coal India Ltd of charges of anti-competitive practices while placing orders for supply of mining explosives.
Brushing off fears that commercial mining in coal sector may erode its monopoly and profitability, Coal India (CIL) today said it was geared up to face the challenge and would welcome any such move to open up the sector for private investment.
