Projects of over two dozen corporates, including NTPC, Coal India, Hindalco, Essar and Adani, to be fast-tracked

The coal ministry has shot down a Planning Commission proposal to formulate a policy to “pool” domestic and international coal prices.

Delays in commissioning of new mines and a historic dip in production from operational mines have thrown coal availability position and the associated power capacity into emergency mode.

To monitor iron ore exports, a cause of illegal mining, the government plans to canalise exports of the mineral.

The government is formulating an iron ore utilisation policy on the lines of a similar policy currently operating in the domestic gas sector.

Even as the government may not be in favour of a blanket ban.

Profit-sharing with tribal people and auctioning of mineral concessions are not the only landmark changes proposed in the new mining Bill.

Granting mining leases will not be the only area where auctioning would be employed as a method of screening corporates, as per a proposed legislation.

The ministry of mines has sought clearance from the Cabinet for making amendments to the existing mining legislation. Besides introducing a benefit-sharing regime for the first time, the proposed law will also be making provisions for regulating mining in the country. The forward movement of the Bill, coming within two months of its approval by a key ministerial group, is likely to disappoint industry groups that were expecting a relaxation in benefit-sharing provisions.

Indian Metals & Ferro Alloys Ltd (IMFA) is planning to spend Rs 6,600 crore over the next five years to set up a 1,320-Mw power plant in Orissa.
With this, IMFA, which currently produces power for its own captive use as a part of its backward integration strategy, will become a commercial power generator. The company is India’s largest producer of ferro alloys, used in manufacturing of stainless steel.