New Delhi NMDC has decided to go full throttle in securing at least three mines in Russia for about Rs 1,600 crore. Besides, the navratna company will also invest 1,75,950 Australian dollars (Rs 95,02,162) for buying out 50 per cent stake of Legacy Iron Ore Ltd’s mines in Australia within two months.

In its meeting on April 16, the NMDC Board deliberated extensively on the company’s proposals to acquire the three mines in Russia and directed that the PSU should commence an internal due diligence on acquiring the South Coal project in Rostov owned by Cyprus-based Coal Mining Investments Ltd having reserves of 364 million tonne.

New Delhi The steel ministry has sought the intervention of a Parliamentary Committee in ensuring that the new mining Bill is revised to enable accordance of due priority to state-run companies for mineral concessions.

In a recent note to the Parliamentary Standing Committee on Coal and Steel, the ministry has strongly pitched for reserving mineral-bearing areas for the central PSUs and observed that state-run companies have an bigger role in the socio-economic development of the country.

The coal ministry has told the national auditor that its observations about “windfall gains” to private and state-run entities as a result of allocation of coal blocks without auction were “fallaci

New Delhi The Prime Minister’s Office (PMO) has asked the petroleum ministry to legally examine whether the government can allow the Mukesh Ambani-controlled Reliance Industries (RIL) to increase t

The coal ministry has written to finance minister Pranab Mukherjee to make coal block owners share 26 per cent of their net profits under the newly drafted Mines and Minerals (Development & Reg

Union environment minister, Jayanthi Natarajan, at a recent meeting told the Group of Ministers (GoM) that the system of ‘go’ and ‘no-go’ has not been mandated by the Forest Conservation Act, 1980

A high-level committee set up by the government to examine the

A high-level ministerial panel will meet on Thursday to discuss a March 31 order of the environment ministry that requires holders of coal blocks to seek forest clearances before applying for environmental clearance.

Earlier, forest and environment clearances for blocks in forest land were simultaneously processed by the ministry.

The widening demand-supply gap and depleting production of Coal India Limited has compelled the coal ministry to overhaul the national coal distribution policy.

State-owned mining maharatna National Mineral Development Corporation (NMDC), that is leading India